9,514
Views
334
CrossRef citations to date
0
Altmetric
Articles

A review of research on outward foreign direct investment from emerging countries, including China: what do we know, how do we know and where should we be heading?

&

References

  • ABS. 2015. Journal Quality List, Chartered Association of Business Schools, United Kingdom. https://charteredabs.org/academic-journal-guide-2015/.
  • Amighini, A. A., and C. Franco. 2013. “A Sector Perspective on Chinese Outward FDI: The Automotive Case.” China Economic Review 27: 148–161.10.1016/j.chieco.2013.09.002
  • Anderson, J., and D. Sutherland. 2015a. “Developed Economy Investment Promotion Agencies and Emerging Market Foreign Direct Investment: The case of Chinese FDI in Canada.” Journal of World Business 50 (4): 815–825.10.1016/j.jwb.2015.04.005
  • Anderson, J., and D. Sutherland. 2015b. “Entry Mode and Emerging Market MNEs: An Analysis of Chinese Greenfield and Acquisition FDI in the United States.” Research in International Business and Finance 35: 88–103.10.1016/j.ribaf.2015.03.008
  • Andreff, W. 2003. “The Newly Emerging TNCs from Economies in Transition: A Comparison with Third World outward FDI.” Transnational Corporations 12 (2): 73–118.
  • Aulakh, P. S. 2007. “Emerging Multinationals from Developing Economies: Motivations, Paths and Performance.” Journal of International Management 13 (3): 235–240.10.1016/j.intman.2007.05.001
  • Awate, S., M. M. Larsen, and R. Mudambi. 2012. “EMNE Catch Up Strategies in the Wind Turbine Industry: Is There a Trade-Off Between Output and Innovation Capabilities?” Global Strategy Journal 2 (3): 205–223.10.1111/gsj.2012.2.issue-3
  • Barney, J. 1991. “Firm Resources and Sustained Competitive Advantage.” Journal of Management 17 (1): 99–120.10.1177/014920639101700108
  • Benito, G. R. G. 2005. “Divestment and International Business Strategy.” Journal of Economic Geography 5 (2): 235–251.10.1093/jnlecg/lbh041
  • Benito, G. R. G. 2015. “Why and How Motives (Still) Matter.” Multinational Business Review 23 (1): 15–24.10.1108/MBR-02-2015-0005
  • Benito, G. R. G., B. Petersen, and L. S. Welch. 2012. “Dynamics of Foreign Operation Modes and their Combinations: Insights for International Strategic Management.” In Handbook of Research on International Strategic Management, edited by A. Verbeke and H. Merchant, 93–115. Cheltenham: Edward Elgar.10.4337/9781781009147
  • Beugelsdijk, S., A. H. L. Slangen, J.-F. Hennart, and R. Smeets. 2010. “Why and How FDI Stocks are a Biased Measure of MNE Affiliate Activity.” Journal of International Business Studies 41 (9): 1444–1459.10.1057/jibs.2010.29
  • Bhasin, N., and J. Paul. 2016. “Exports and FDI. Are they Compliments or Substitutes? Evidence from Asia.” Multinational Business Review 24 (1): 62–75.10.1108/MBR-05-2015-0016
  • Bhaumik, S. K., and C. Y. Co. 2011. “China’s Economic Cooperation Related Investment: An Investigation of its Direction and Some Implications for Outward Investment.” China Economic Review 22 (1): 75–87.10.1016/j.chieco.2010.09.002
  • Bhaumik, S. K., and N. Driffield. 2011. “Direction of Outward FDI of EMNEs: Evidence from the Indian Pharmaceutical Sector.” Thunderbird International Business Review 53 (5): 615–628.10.1002/tie.v53.5
  • Bhaumik, S. K., N. Driffield, and S. Pal. 2010. “Does Ownership Structure of Emerging-Market Firms Affect their Outward FDI? The Case of the Indian Automotive and Pharmaceutical Sectors.” Journal of International Business Studies 41 (3): 437–450.10.1057/jibs.2009.52
  • Blomkvist, K., and R. Drogendijk. 2013. “The Impact of Psychic Distance on Chinese Outward Foreign Direct Investments.” Management International Review 53 (5): 659–686.10.1007/s11575-012-0147-y
  • Bonaglia, F., A. Goldstein, and J. A. Mathews. 2007. “Accelerated Internationalization by Emerging Markets’ Multinationals: The Case of the White Goods Sector.” Journal of World Business 42 (4): 369–383.10.1016/j.jwb.2007.06.001
  • Braunerhjelm, P., L. Oxelheim, and P. Thulin. 2005. “The Relationship Between Domestic and Outward Foreign Direct Investment: The Role of Industry-Specific Effects.” International Business Review 14 (6): 677–694.10.1016/j.ibusrev.2005.09.004
  • Bruton, G. D., M. W. Peng, D. Ahlstrom, C. Stan, and K. Xu. 2015. “State-Owned Enterprises Around the World as Hybrid Organizations.” Academy of Management Perspectives 29 (1): 92–114.10.5465/amp.2013.0069
  • Buckley, P. J., L. J. Clegg, A. R. Cross, X. Liu, H. Voss, and P. Zheng. 2007. “The Determinants of Chinese Outward Foreign Direct Investment.” Journal of International Business Studies 38 (4): 499–518.10.1057/palgrave.jibs.8400277
  • Buckley, P. J., A. R. Cross, H. Tan, L. Xin, and H. Voss. 2008. “Historic and Emergent Trends in Chinese Outward Direct Investment.” Management International Review 48 (6): 715–748.10.1007/s11575-008-0104-y
  • Buckley, P. J., N. Forsans, and S. Munjal. 2012. “Host–Home Country Linkages and Host–Home Country Specific Advantages as Determinants of Foreign Acquisitions by Indian Firms.” International Business Review 21 (5): 878–890.10.1016/j.ibusrev.2011.10.001
  • Cai, K. G. 1999. “Outward Foreign Direct Investment: A Novel Dimension of China’s Integration into the Regional and Global Economy.” The China Quarterly 160: 856–880.10.1017/S0305741000001363
  • Canabal, A., and G. O. White. 2008. “Entry Mode Research: Past and Future.” International Business Review 17 (3): 267–284.10.1016/j.ibusrev.2008.01.003
  • Cheung, Y. W., J. D. Haan, X. Qian, and S. Yu. 2012. “China’s Outward Direct Investment in Africa.” Review of International Economics 20 (2): 201–220.10.1111/roie.2012.20.issue-2
  • Cheung, Y. W., and X. W. Qian. 2009. “Empirics of China’s Outward Direct Investment.” Pacific Economic Review 14 (3): 312–341.10.1111/per.2009.14.issue-3
  • Child, J., and S. Rodrigues. 2005. “The Internationalization of Chinese Firms: A Case for Theoretical Revision?” Management and Organization Review 1 (3): 381–410.10.1111/j.1740-8784.2005.0020a.x
  • Child, J., and S. Marinova. 2014. “The Role of Contextual Combinations in the Globalization of Chinese Firms.” Management and Organization Review 10 (3): 347–371.
  • Chou, K. H., C. H. Chen, and C. C. Mai. 2011. “The Impact of Third-Country Effects and Economic Integration on China’s Outward FDI.” Economic Modelling 28 (5): 2154–2163.10.1016/j.econmod.2011.05.012
  • Chung, C., S. Xiao, J. Lee, and J. Kang. 2016. “The Interplay of Top-Down Institutional Pressures and Bottom-Up Responses of Transition Economy Firms on FDI Entry Mode Choices.” Management International Review 56 (5): 699–732.10.1007/s11575-015-0256-5
  • Collinson, S., and A. M. Rugman. 2007. “The Regional Character of Asian Multinational Enterprises.” Asia Pacific Journal of Management 24 (4): 429–446.10.1007/s10490-006-9035-y
  • Cook, G. A. S., N. R. Pandit, H. Loof, and B. Johansson. 2012. “Geographic Clustering and Outward Foreign Direct Investment.” International Business Review 21 (6): 1112–1121.10.1016/j.ibusrev.2011.12.004
  • Cuervo-Cazurra, A. 2007. “Sequence of Value Added Activities in the Multinationalization of Developing Country Firms.” Journal of International Management 13 (3): 258–277.10.1016/j.intman.2007.05.009
  • Cuervo-Cazurra, A. 2008. “The Multi-Nationalization of Developing Country MNEs: The Case of Multilatinas.” Journal of International Management 14 (2): 138–154.10.1016/j.intman.2007.09.001
  • Cuervo-Cazurra, A., and M. Genc. 2008. “Transforming Disadvantages into Advantages: Developing-Country MNEs in the Least Developed Countries.” Journal of International Business Studies 39 (6): 957–979.10.1057/palgrave.jibs.8400390
  • Cui, L., K. E. Meyer, and H. W. Hu. 2014. “What Drives Firms’ Intent to Seek Strategic Assets by Foreign Direct Investment? A Study of Emerging Market Firms.” Journal of World Business 49 (4): 488–501.10.1016/j.jwb.2013.12.003
  • Cui, L., F. Jiang, and B. Stening. 2011. “The Entry-Mode Decision of Chinese Outward FDI: Firm Resources, Industry Conditions, and Institutional Forces.” Thunderbird International Business Review 53 (4): 483–499.10.1002/tie.v53.4
  • Cui, L., and F. Jiang. 2009. “Ownership Decisions in Chinese Outward FDI: An Integrated Conceptual Framework and Research Agenda.” Asian Business & Management 8 (3): 301–324.10.1057/abm.2009.7
  • Cui, L., and F. Jiang. 2010. “Behind Ownership Decision of Chinese Outward FDI: Resources and Institutions.” Asia Pacific Journal of Management 27 (4): 751–774.10.1007/s10490-009-9136-5
  • Cui, L., and F. Jiang. 2012. “State Ownership Effect on Firms’ FDI Ownership Decisions Under Institutional Pressure: A Study of Chinese Outward-Investing Firms.” Journal of International Business Studies 43 (3): 264–284.10.1057/jibs.2012.1
  • Dacin, M. T., J. Goodstein, and W. R. Scott. 2002. “Institutional Theory and Institutional Change.” Academy of Management Journal 45 (1): 45–56.10.5465/AMJ.2002.6283388
  • Dau, L. A. 2013. “Learning Across Geographic Space: Pro-Market Reforms, Multinationalization Strategy, and Profitability.” Journal of International Business Studies 44 (3): 235–262.10.1057/jibs.2013.5
  • Debaere, P., H. Lee, and J. Lee. 2010. “It Matters Where You Go: Outward Foreign Direct Investment and Multinational Employment Growth at Home.” Journal of Development Economics 91 (2): 301–309.10.1016/j.jdeveco.2009.07.002
  • Demirbag, M., E. Tatoglu, and K. W. Glaister. 2009. “Equity-Based Entry Modes of Emerging Country Multinationals: Lessons from Turkey.” Journal of World Business 44 (4): 445–462.10.1016/j.jwb.2008.11.009
  • Deng, P. 2004. “Outward Investment by Chinese MNCs: Motivations and Implications.” Business Horizons 47 (3): 8–16.10.1016/S0007-6813(04)00023-0
  • Deng, P. 2007. “Investing for Strategic Resources and Its Rationale: The Case of Outward FDI from Chinese Companies.” Business Horizons 50 (1): 71–81.10.1016/j.bushor.2006.07.001
  • Deng, P. 2009. “Why Do Chinese Firms Tend to Acquire Strategic Assets in International Expansion?” Journal of World Business 44 (1): 74–84.10.1016/j.jwb.2008.03.014
  • Deng, P. 2012. “Internationalization of Chinese Firms: A Critical Review and Future Research.” International Journal of Management Reviews 14 (4): 408–427.10.1111/ijmr.2012.14.issue-4
  • Deng, P. 2013. “Chinese Outward Direct Investment Research: Theoretical Integration And Recommendations.” Management and Organization Review 9 (3): 573–539.
  • Dong, B., and G. Guo. 2013. “A Model of China’s Export Strengthening Outward FDI.” China Economic Review 27: 208–226.10.1016/j.chieco.2012.07.003
  • Dreger, C., Y. Schüler-Zhou, and M. Schüller. 2017. “Determinants of Chinese Direct Investments in the European Union.” Applied Economics 49 (42): 4231–4240.10.1080/00036846.2017.1279269
  • Drogendijk, R., and O. Martín Martín. 2015. “Relevant Dimensions and Contextual Weights of Distance in International Business Decisions: Evidence from Spanish and Chinese Outward FDI.” International Business Review 24 (1): 133–147.10.1016/j.ibusrev.2014.07.003
  • Duanmu, J. L. 2014. “A Race to Lower Standards? Labor Standards and Location Choice of Outward FDI from the BRIC Countries.” International Business Review 23 (3): 620–634.10.1016/j.ibusrev.2013.10.004
  • Dunning, J. H. 1988. “The Eclectic Paradigm of International Production: A Restatement and Some Possible Extensions.” Journal of International Business Studies 19 (1): 1–31.10.1057/palgrave.jibs.8490372
  • Dunning, J. H. 2000. “The Eclectic Paradigm as an Envelope for Economic and Business Theories of MNE Activity.” International Business Review 9 (2): 163–190.10.1016/S0969-5931(99)00035-9
  • Dunning, J. H. 2006. “Comment on Dragon Multinationals: New Players in 21st Century Globalization.” Asia Pacific Journal of Management 23 (2): 139–141.10.1007/s10490-006-7161-1
  • Duran, J. J., and F. Ubeda. 2001. “The Efficiency of Government Promotion for Outward FDI: The Intention to Invest Abroad.” Multinational Business Review 9 (2): 24–33.
  • Erkilek, A. 2003. “A Comparative Analysis of Inward and Outward FDI in Turkey.” Transnational Corporations 12 (3): 79–105.
  • Fan, D., L. Cui, Y. Li, and C. J. Zhu. 2016. “Localized Learning by Emerging Multinational Enterprises in Developed Host Countries: A Fuzzy-Set Analysis of Chinese Foreign Direct Investment in Australia.” International Business Review 25 (1): 187–203.10.1016/j.ibusrev.2014.12.005
  • Frost, S. 2006. “Chinese Outward Direct Investment in Southeast Asia: How Big are the Flows and What Does it Mean for the Region?” The Pacific Review 17 (3): 323–340.
  • Fung, K. C., H. A. Garcial, and A. Siu. 2009. “A Comparative Empirical Examination of Outward Foreign Direct Investment from Four Asian Economies: People’s Republic of China; Japan; Republic of Korea; and Taipei, China.” Asian Development Review 26 (2): 86–101.
  • Gammeltoft, P. 2008. “Emerging Multinationals: Outward FDI from the BRICS Countries.” International Journal of Technology and Globalisation 4 (1): 5–22.10.1504/IJTG.2008.016184
  • Gao, L., X. Liu, and H. Zou. 2013. “The Role of Human Mobility in Promoting Chinese Outward FDI: A Neglected Factor?” International Business Review 22 (2): 437–449.10.1016/j.ibusrev.2012.06.001
  • Gaur, A., and V. Kumar. 2010. “Internationalization of Emerging Market Firms: A Case for Theoretical Extension.” Advances in International Management 23: 603–627.10.1108/S1571-5027(2010)00000230031
  • Ghemawat, P. 2001. “Distance Still Matters.” Harvard Business Review 79 (8): 137–147.
  • Goh, S. K., K. N. Wong, and S. Y. Tham. 2013. “Trade Linkages of Inward and Outward FDI: Evidence from Malaysia.” Economic Modelling 35: 224–230.10.1016/j.econmod.2013.06.035
  • Goh, S. K., and K. N. Wong. 2011. “Malaysia’s Outward FDI: The Effects of Market Size and Government Policy.” Journal of Policy Modeling 33 (3): 497–510.10.1016/j.jpolmod.2010.12.008
  • Globerman, S., and D. Shapiro. 2009. “Economic and Strategic Considerations Surrounding Chinese FDI in the United States.” Asia Pacific Journal of Management 26 (1): 163–183.10.1007/s10490-008-9112-5
  • Hattari, R., and R. S. Rajan. 2010. “India as a Source of Outward Foreign Direct Investment.” Oxford Development Studies 38 (4): 497–518.10.1080/13600818.2010.524695
  • Hayakawa, K., T. Matsuura, K. Motohashi, and A. Obashi. 2013. “Two-Dimensional Analysis of the Impact of Outward FDI on Performance at Home: Evidence from Japanese Manufacturing Firms.” Japan and the World Economy 27: 25–33.10.1016/j.japwor.2013.03.006
  • He, W., and M. A. Lyles. 2008. “China’s Outward Foreign Direct Investment.” Business Horizons 51 (6): 485–491.10.1016/j.bushor.2008.06.006
  • Hernández, V., and M. J. Nieto. 2015. “Inward–Outward Connections and their Impact on Firm Growth.” International Business Review 25 (1): 296–306.
  • Herzer, D. 2008. “The Long-Run Relationship Between Outward FDI and Domestic Output: Evidence From Panel Data.” Economics Letters 100 (1): 146–149.10.1016/j.econlet.2007.12.004
  • Herzer, D. 2011a. “The Long-Run Effect of Outward FDI on Domestic Output in Developing Countries.” Applied Economic Letters 81 (4): 1355–1358.10.1080/13504851.2010.537620
  • Herzer, D. 2011b. “The Long-Run Relationship Between Outward Foreign Direct Investment and Total Factor Productivity: Evidence for Developing Countries.” Journal of Development Studies 47 (5): 767–785.10.1080/00220388.2010.509790
  • Hillman, A. J., M. C. Withers, and B. J. Collins. 2009. “Resource Dependence Theory: A Review.” Journal of Management 35: 1404–1427.10.1177/0149206309343469
  • Holtbrügge, D., and H. Kreppel. 2012. “Determinants of Outward Foreign Direct Investment From BRIC Countries: An Explorative Study.” International Journal of Emerging Markets 7 (1): 4–30.10.1108/17468801211197897
  • Hong, E., and L. Sun. 2006. “Dynamics of Internationalization and Outward Investment: Chinese Corporations’ Strategies.” The China Quarterly 18 (7): 610–634.10.1017/S0305741006000403
  • Hu, H. W., and L. Cui. 2014. “Outward Foreign Direct Investment of Publicly Listed Firms from China: A Corporate Governance Perspective.” International Business Review 23 (4): 750–760.10.1016/j.ibusrev.2013.11.003
  • Huang, X., and C. Renyong. 2014. “Chinese Private Firms’ Outward Foreign Direct Investment: Does Firm Ownership and Size Matter?” Thunderbird International Business Review 56 (5): 393–406.10.1002/tie.2014.56.issue-5
  • Huang, Y., and B. Wang. 2011. “Chinese Outward Direct Investment: Is There a China Model?” China & World Economy 19 (4): 1–21.10.1111/j.1749-124X.2011.01254.x
  • Huang, Y., E. Xie, Y. Li, and K. S. Reddy. 2017. “Does State Ownership Facilitate Outward FDI of Chinese SOEs? Institutional Development, Market Competition, and the Logic of Interdependence Between Governments and SOEs.” International Business Review 26 (1): 176–188.10.1016/j.ibusrev.2016.06.005
  • Jindra, B., S. S. Hassan, J. Günther, and U. Cantner. 2015. “European Integration and Outward FDI from Central and Eastern Europe – Is There Any Evidence of Knowledge-Seeking?” Journal of Common Market Studies 53 (6): 1248–1267.10.1111/jcms.12260
  • Johanson, J., and J. E. Vahlne. 1977. “The Internationalization Process of the Firm-a Model of Knowledge Development and Increasing Foreign Market Commitments.” Journal of International Business Studies 23–32.
  • Jormanainen, I., and P. C. A. Koveshnikov. 2012. “International Activities of Emerging Market Firms.” Management International Review 52 (5): 691–725.10.1007/s11575-011-0115-y
  • Kalotay, K. 2006. “Outward Foreign Direct Investment from Russia in a Global Context.” Journal of East-West Business 11 (3–4): 9–22.10.1300/J097v11n03_02
  • Kalotay, K., and A. Sulstarova. 2010. “Modelling Russian Outward FDI.” Journal of International Management 16 (2): 131–142.10.1016/j.intman.2010.03.004
  • Kedia, B., N. Gaffney, and J. Clampit. 2012. “EMNEs and Knowledge-Seeking FDI.” Management International Review 52 (2): 155–173.10.1007/s11575-012-0132-5
  • Keupp, M. M., and O. Gassmann. 2009. “The Past and the Future of International Entrepreneurship: A Review and Suggestions for Developing the Field.” Journal of Management. 35 (3): 600–633.10.1177/0149206308330558
  • Kevin, G. C. 1999. “Outward Foreign Direct Investment: A Novel Dimension of China’s Integration into the Regional and Global Economy.” The China Quarterly 160: 856–880.
  • Kotabe, M., H. Teegen, P. S. Aulakh, M. C. Coutinho de Arruda, R. Santillán-Salgado, and W. Greene. 2000. “Strategic Alliances in Emerging Latin America: A View from Brazilian, Chilean, and Mexican Companies.” Journal of World Business 35: 114–132.10.1016/S1090-9516(00)00028-6
  • Kolstad, I., and A. Wiig. 2012. “What Determines Chinese Outward FDI?” Journal of World Business 47 (1): 26–34.10.1016/j.jwb.2010.10.017
  • Kumar, N. 2007. “Emerging TNCs: Trends, Patterns and Determinants of Outward FDI by Indian enterprises.” Transnational Corporations 16 (1): 1–26.
  • Lall, S. 1983. The New Multinationals: The Spread of Third World Enterprises. New York, NY: Wiley.
  • Lai, H., S. O’Hara, and K. Wysoczanska. 2015. “Rationale of Internationalization of China’s National Oil Companies: Seeking Natural Resources, Strategic Assets or Sectoral Specialization?” Asia Pacific Business Review 21 (1): 77–95.10.1080/13602381.2014.939896
  • Lecraw, D. J. 1977. “Direct Investment by Firms From Less Developed Countries.” Oxford Economic Papers 29 (3): 445–457.
  • Lecraw, D. J. 1993. “Outward Direct Investment by Indonesian Firms: Motivation and Effects.” Journal of International Business Studies 24 (3): 589–600.10.1057/palgrave.jibs.8490247
  • Li, F., and D. Z. Ding. 2013. “The Effect of Institutional Isomorphic Pressure on the Internationalization of Firms in an Emerging Economy: Evidence from China.” Asia Pacific Business Review 19 (4): 506–525.10.1080/13602381.2013.807602
  • Li, J., Y. Li, and D. Shapiro. 2012. “Knowledge Seeking and Outward FDI of Emerging Market Firms: The Moderating Effect of Inward FDI.” Global Strategy Journal 2 (4): 277–295.10.1111/gsj.2012.2.issue-4
  • Li, J., A. Newenham-Kahindi, D. M. Shapiro, and V. Z. Chen. 2013. “The Two-Tier Bargaining Model Revisited: Theory and Evidence from China’s Natural Resource Investments in Africa.” Global Strategy Journal 3 (4): 300–321.10.1111/gsj.2013.3.issue-4
  • Li, M. H., L. Cui, and J. Lu. 2014. “Varieties in State Capitalism: Outward FDI Strategies of Central and Local State-Owned Enterprises from Emerging Economy Countries.” Journal of International Business Studies 45 (8): 980–1004.10.1057/jibs.2014.14
  • Li, M. H., L. Cui, and J. Lu. 2017. “Marketized State Ownership and Foreign Expansion of Emerging Market Multinationals: Leveraging Institutional Competitive Advantages.” Asia Pacific Journal of Management 34 (1): 19–46.10.1007/s10490-015-9436-x
  • Liang, X., X. Lu, and L. Wang. 2012. “Outward Internationalization of Private Enterprises in China: The Effect of Competitive Advantages and Disadvantages Compared to Home Market Rivals.” Journal of World Business 47 (1): 134–144.10.1016/j.jwb.2011.02.002
  • Liu, W. H., P. L. Tsai, and C. L. Tsay. 2015. “Domestic Impacts of Outward FDI in Taiwan: Evidence from Panel Data of Manufacturing Firms.” International Review of Economics & Finance 39: 469–484.10.1016/j.iref.2015.07.011
  • Liu, X., T. Buck, and C. Shu. 2005. “Chinese Economic Development, the Next Stage: Outward FDI?” International Business Review 14 (1): 97–115.10.1016/j.ibusrev.2004.12.003
  • Liu, X., J. Lu, and A. Chizema. 2014. “Top Executive Compensation, Regional Institutions and Chinese OFDI.” Journal of World Business 49 (1): 143–155.
  • Liu, X., C. Wang, and Y. Wei. 2001. “Causal Links Between Foreign Direct Investment and Trade in China.” China Economic Review 12 (2): 190–202.10.1016/S1043-951X(01)00050-5
  • Liu, Y., and M. Woywode. 2013. “Light-Touch Integration of Chinese Cross-Border M&A: The Influences of Culture and Absorptive Capacity.” Thunderbird International Business Review 55 (4): 469–483.10.1002/tie.v55.4
  • Lu, J., X. Liu, and H. Wang. 2011. “Motives for Outward FDI of Chinese Private Firms Firm Resources, Industry Dynamics, and Government Policies.” Management and Organization Review 7 (2): 223–248.10.1111/j.1740-8784.2010.00184.x
  • Luo, Y., and R. L. Tung. 2007. “International Expansion of Emerging Market Enterprises: A Springboard Perspective.” Journal of International Business Studies 38 (4): 481–498.10.1057/palgrave.jibs.8400275
  • Luo, Y., Q. Xue, and B. Han. 2010. “How Emerging Market Governments Promote Outward FDI Experience from China.” Journal of World Business 45 (1): 68–79.10.1016/j.jwb.2009.04.003
  • Luo, Y., and H. Zhang. 2016. “Emerging Market MNEs: Qualitative Review and Theoretical Directions.” Journal of International Management 22 (4): 333–350.10.1016/j.intman.2016.05.001
  • Lyles, M., D. Li, and H. Yan. 2014. “Chinese Outward FDI Performance: The Role of Learning.” Management and Organization Review 10 (3): 411–437.
  • Lynch, R., and Z. Jin. 2015. “Knowledge and Innovation in Emerging Market Multinationals: The Expansion Paradox.” Journal of Business Research 69 (5): 1593–1597.
  • Mathews, J. A. 2002. “Competitive Advantages of the Latecomer Firm: A Resource-Based Account of Industrial Catch-Up Strategies.” Asia Pacific Journal of Management 19 (4): 467–488.10.1023/A:1020586223665
  • Mathews, J. A. 2006. “Dragon Multinationals: New Players in 21st Century Globalization.” Asia Pacific Journal of Management 23 (1): 5–27.10.1007/s10490-006-6113-0
  • Meyer, K. E., Y. Ding, J. Li, and H. Zhang. 2014. “Overcoming Distrust: How State-Owned Enterprises Adapt their Foreign Entries to Institutional Pressures Abroad.” Journal of International Business Studies 45 (8): 1005–1028.10.1057/jibs.2014.15
  • Meyer, K. E., and O. Thaijongrak. 2013. “The Dynamics of Emerging Economy MNEs: How the Internationalization Process Model can Guide Future Research.” Asia Pacific Journal of Management 30 (4): 1125–1153.10.1007/s10490-012-9313-9
  • Morck, R., B. Y. Yeung, and M. Zhao. 2008. “Perspectives on China’s Outward Foreign Direct Investment.” Journal of International Business Studies 39 (3): 337–350.10.1057/palgrave.jibs.8400366
  • Nam, K. M., and X. Li. 2012. “Out of Passivity: Potential Role of OFDI in IFDI-Based Learning Trajectory.” Industrial and Corporate Change 22 (3): 711–743.
  • Narayanan, K., and S. Bhat. 2011. “Technology Sourcing and Outward FDI: A Study of IT Industry in India.” Technovation 31 (4): 177–184.10.1016/j.technovation.2010.06.002
  • Narula, R. 2012. “Do We Need Different Frameworks to Explain Infant MNEs from Developing Countries?” Global Strategy Journal 2 (3): 188–204.10.1111/gsj.2012.2.issue-3
  • Paul, J. 2015. “Does the WTO Increase Trade and Cause Convergence?” International Trade Journal 29 (4): 291–308.10.1080/08853908.2015.1053632
  • Pradhan, J. P. 2004. “The Determinants of Outward Foreign Direct Investment: A Firm Level Analysis of Indian Manufacturing.” Oxford Development Studies 32 (4): 619–639.10.1080/1360081042000293371
  • Prahalad, C. K., and G. Hamel. 1994. “Strategy as a Field of Study: Why Search for a New Paradigm?” Strategic Management Journal 15 (S2): 5–16.
  • Pradhan, J. P. 2008. “Outward Foreign Direct Investment from India: Recent Trends and Patterns.” International Journal of Technology and Globalisation 4 (1): 70–86.10.1504/IJTG.2008.016188
  • Radlo, M. J. 2012. “Emerging Multinationals and Outward FDI Development: The Case of Poland.” Eastern European Economics 50 (2): 59–84.10.2753/EEE0012-8775500204
  • Radlo, M., and M. Sass. 2012. “Outward Foreign Direct Investments and Emerging Multinational Companies from Central and Eastern Europe.” Eastern European Economics 50 (2): 5–21.10.2753/EEE0012-8775500201
  • Ramamurti, R. 2012. “What is Really Different About Emerging Market Multi-Nationals?” Global Strategy Journal 2 (1): 41–47.10.1002/gsj.v2.1
  • Ramamurti, R., and J. V. Singh, eds. 2009. Emerging Multinationals in Emerging Markets. Cambridge: Cambridge University Press.
  • Ramasamy, B., M. Yeung, and S. Laforet. 2012. “China’s Outward Foreign Direct Investment: Location Choice and Firm Ownership.” Journal of World Business 47 (1): 17–25.10.1016/j.jwb.2010.10.016
  • Rasiah, R., P. Gammeltoft, and Y. Jiang. 2010. “Home Government Policies for Outward FDI from Emerging Economies: Lessons from Asia.” International Journal of Emerging Markets 5 (3/4): 333–357.10.1108/17468801011058415
  • Rienda, L., E. Claver, and D. Quer. 2013. “The Internationalisation of Indian Multinationals: Determinants of Expansion Through Acquisitions.” Journal of the Asia Pacific Economy 18 (1): 115–132.10.1080/13547860.2012.742705
  • Robins, F. 2013. “The Uniqueness of Chinese Outward Foreign Direct Investment.” Asian Business and Management 12 (5): 525–537.10.1057/abm.2013.15
  • Rugman, A. M., and J. Li. 2007. “Will China’s Multinationals Succeed Globally or Regionally?” European Management Journal 25 (5): 333–343.10.1016/j.emj.2007.07.005
  • Rugraff, E. 2010. “Strengths and Weaknesses of the Outward FDI Paths of the Central European Countries.” Post Communist Economies 22 (1): 1–17.10.1080/14631370903525561
  • Rui, H., and G. S. Yip. 2008. “Foreign Acquisitions by Chinese Firms: A Strategic Intent Perspective.” Journal of World Business 43 (2): 213–226.10.1016/j.jwb.2007.11.006
  • Sartor, M. A., and P. W. Beamish. 2014. “Offshoring Innovation to Emerging Markets: Organizational Control and Informal Institutional Distance.” Journal of International Business Studies 45 (9): 1072–1095.10.1057/jibs.2014.36
  • Scott, W. R. 1987. “The Adolescence of Institutional Theory.” Administrative Science Quarterly 32 (4): 493–511.10.2307/2392880
  • Scott, W. R. 2001. Institutions and Organizations. New York: Sage.
  • Singal, A., and A. K. Jain. 2012. “Outward FDI Trends from India: Emerging MNCs and Strategic Issues.” International Journal of Emerging Markets 7 (4): 443–456.10.1108/17468801211264342
  • Stoian, C. 2013. “Extending Dunning’s Investment Development Path: The Role of Home Country Institutional Determinants in Explaining Outward Foreign Direct Investment.” International Business Review 22 (3): 615–637.10.1016/j.ibusrev.2012.09.003
  • Sun, S. L., M. W. Peng, R. P. Lee, and W. Tan. 2015. “Institutional Open Access at Home and Outward Internationalization.” Journal of World Business 50 (1): 234–246.10.1016/j.jwb.2014.04.003
  • Tan, D. E., and K. E. Meyer. 2010. “Business Groups’ Outward FDI: A Managerial Resources Perspective.” Journal of International Management 16 (2): 154–164.10.1016/j.intman.2010.03.006
  • Taylor, R. 2002. “Globalization Strategies of Chinese Companies: Current Developments and Future Prospects.” Asian Business & Management 1 (2): 209–225.10.1057/palgrave.abm.9200011
  • Taylor, R., and B. Andreosso-O’Callaghan. 2016. Emerging Asian Economies and MNCs Strategies. Cheltenham: Edward Elgar.10.4337/9781785364068
  • Terjesen, S., J. Hessels, and D. Li. 2013. “Comparative International Entrepreneurship: A Review and Research Agenda.” Journal of Management 20 (10): 1–46.
  • Thomas, D. E., L. Eden, M. A. Hitt, and S. R. Miller. 2007. “Experience of Emerging Market Firms: The Role of Cognitive Bias in Developed Market Entry and Survival.” Management International Review 47 (6): 845–867.10.1007/s11575-007-0055-8
  • The Economist. 2010, 9th October. Special Report on the World Economy, pp. 3–30.
  • Tian, W., and M. Yu. 2012. “Outward Foreign Direct Investment and Productivity: Firm-Level Evidence from China.” China Economic Quarterly 11 (2): 51–93.
  • Tolentino, P. E. 2010. “Home Country Macroeconomic Factors and Outward FDI of China and India.” Journal of International Management 16 (2): 102–120.10.1016/j.intman.2010.03.002
  • Tung, R. L. 2007. “The Human Resource Challenge to Outward Foreign Direct Investment Aspirations from Emerging Economies: The Case of China.” International Journal of Human Resource Management 18 (5): 868–889.10.1080/09585190701249198
  • UNCTAD. 2006. “United Nations Conference on Trade and Development.”, Geneva, September 22, 2015. unctad.org.
  • UNCTAD. 2015. World Investment Report. unctad.org on January 28, 2016 and Global Investment Trends Monitor, retrieved from unctad.org on May 29, 2015.
  • Wernerfelt, B. 1984.“A Resource-Based View of the Firm.” Strategic Management Journal 5 (2): 171–180.10.1002/(ISSN)1097-0266
  • Wang, C., J. Hong, M. Kafouros, and A. Boateng. 2012a. “What Drives Outward FDI of Chinese Firms? Testing the Explanatory Power of Three Theoretical Frameworks.” International Business Review 21 (3): 425–438.10.1016/j.ibusrev.2011.05.004
  • Wang, C., J. Hong, M. Kafouros, and M. Wright. 2012b. “Exploring the Role of Government Involvement in Outward FDI from Emerging Economies.” Journal of International Business Studies 43 (7): 655–676.10.1057/jibs.2012.18
  • Warner, M. 2014. Understanding Chinese Management: Past, Present and Future. London and New York: Routledge.
  • Wee, K. H. 2007. “Outward Foreign Direct Investment by Enterprises from Thailand.” Transnational Corporations 16 (1): 89–116.
  • Wei, Y., N. Zheng, X. Liu, and J. Lu. 2014. “Expanding to Outward Foreign Direct Investment or Not? A Multi-Dimensional Analysis of Entry Mode Transformation of Chinese Private Exporting Firms.” International Business Review 23 (2): 356–370.10.1016/j.ibusrev.2013.06.001
  • Wei, Z. 2010. “The Literature on Chinese Outward FDI.” Multinational Business Review 18 (3): 73–112.10.1108/1525383X201000016
  • Witt, M. A., and A. Y. Lewin. 2007. “Outward Foreign Direct Investment as Escape Response to Home Country Institutional Constraints.” Journal of International Business Studies 38 (4): 579–594.10.1057/palgrave.jibs.8400285
  • Wu, H. L., and C. H. Chen. 2001. “An Assessment of Outward Foreign Direct Investment from China’s Transitional Economy.” Europe-Asia Studies 53 (8): 1235–1254.10.1080/09668130120093219
  • Xia, J., X. Ma, J.W Lu, and D. W. Yiu. 2014. “Outward Foreign Direct Investment by Emerging Market Firms: A Resource Dependence Logic.” Strategic Management Journal 35 (9): 1343–1363.10.1002/smj.2014.35.issue-9
  • Yang, D. 2005. China’s Offshore Investments – A Network Approach. Cheltenham: Edward Elgar.
  • Yao, S., and P. Wang. 2014. “Has China Displaced the Outward Investments of OECD Countries?” China Economic Review 28: 55–71.10.1016/j.chieco.2013.11.002
  • Zhan, J. 1995. “Trans-Nationalization and Outward Investment: The Case of Chinese Firms.” Transnational Corporations 43: 67–100.
  • Zhang, J., C. Zhou, and H. Ebbers. 2011. “Completion of Chinese Overseas Acquisitions: Institutional Perspectives and Evidence.” International Business Review 20 (2): 226–238.10.1016/j.ibusrev.2010.07.003
  • Zhang, X., and K. Daly. 2011. “The Determinants of China’s Outward Foreign Direct Investment.” Emerging Markets Review 12 (4): 389–398.10.1016/j.ememar.2011.06.001
  • Zhao, W., L. Liu, and T. Zhao. 2010. “The Contribution of Outward Direct Investment to Productivity Changes Within China, 1991–2007.” Journal of International Management 16 (2): 121–130.10.1016/j.intman.2010.03.003

Reprints and Corporate Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

To request a reprint or corporate permissions for this article, please click on the relevant link below:

Academic Permissions

Please note: Selecting permissions does not provide access to the full text of the article, please see our help page How do I view content?

Obtain permissions instantly via Rightslink by clicking on the button below:

If you are unable to obtain permissions via Rightslink, please complete and submit this Permissions form. For more information, please visit our Permissions help page.