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Foreign investment has surged across emerging markets. This unique
comparative study presents the first systematic evidence on the
entry mode, business environment and their interrelationships in
emerging markets. It integrates strategic management and economic
policy analysis, and provides new insights for both business
managers and government policymakers. The book investigates foreign
direct investment (FDI) strategies in four important emerging
economies: Egypt, India, South Africa and Vietnam. These countries
liberalized their economies in the 1990s with the intention of
attracting greater FDI inflows. This book assesses whether they
have been successful in achieving this goal. The authors adopt a
comparative perspective, and use a large enterprise survey plus
three individual case studies in each country. They investigate the
strategies of foreign direct investors, focusing on the
relationship between the investment climate, the mode of entry
(acquisition, greenfield or joint venture), company performance,
and spillovers to the host economy. The book outlines how the
interactions between international businesses and the local policy
environment influence the entry strategies of firms. Academics and
researchers with an interest in international business, emerging
markets, economic development and strategic management will find
this book informative and insightful.
Multinational enterprises (MNEs) invest in a variety of host
economies, and closely interact with local businesses and society
at large. This role has become the focus of policy debates of all
sorts, as MNEs are seen as a primary conduit of globalization, thus
spreading both its benefits and its negative side effects.This
selection offers an interdisciplinary perspective on MNEs and host
economies. Theoretical models are provided by economics research,
yet some of the more subtle and complex forms of impact are hard to
analyse using economics methodologies. A range of other disciplines
such as management, sociology and ethics thus contribute to the
discussion of these wider issues. The articles in this collection
cover theoretical and empirical studies on the horizontal and
vertical impact on local firms, to issues of labour standards and
the natural environment, and normative issues.
Guided by the overarching question ''how and why does the emerging
economy context matter for business?'', this collection brings
together key contributions of Klaus Meyer on multinational
enterprises (MNEs) competing in, and originating from, emerging
economies. From theoretical to process perspectives, the book also
explores how outward investment strategies contribute to building
internationally competitive MNEs. It looks at the process by which
foreign MNEs pursue distinct opportunities in each emerging economy
by adapting their strategies to the specific business ecosystem.
This includes, inter alia, the location of production, choice of
entry mode, forms of equity and non-equity partnerships and market
positioning. Conversely, when local firms set their ambitions
beyond national boundaries, their own resources and capabilities
are shaped by the business ecosystem of their home country. The
author's theoretically grounded empirical research in Multinational
Enterprises and Emerging Economies gives MSc students, PhD students
and junior scholars the opportunity to dig deeper into the study of
MNE growth. Keywords: Business in emerging economies book /
emerging markets book Multinational enterprises Foreign entry in
emerging economies Emerging economy multinationals Institutional
theory Context of business
This in-depth analysis of direct investment in transition economies
provides not only original insights for economic policy in Central
and Eastern Europe, but challenges some of the theoretical
foundations of the multinational firm. Foreign investment is
important in promoting economic growth and development, and this
book examines the determinants of foreign direct investment under
the unique conditions of the transition from central planning to
market economies. It begins by reviewing the business environment
and the conditions facing foreign investors, and assessing the
existing statistical and qualitative evidence. Dr Meyer then
analyses the theoretical literature and extends this in an
empirical analysis investigating the investment decision of firms
entering Central and Eastern Europe. The book also critically
examines transaction cost theory and the theory of the
multinational firm under the special conditions of economic
transition. It points to a reorientation of international business
research which will need to focus on firms as organizations rather
than firms as substitutes for imperfect markets. Direct Investment
in Economies in Transition will be essential reading for students
and scholars of international business and transition economics. It
will provide valuable insights for policymakers within the region
about the forces driving foreign investment.
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