Institutions, resources, and internationalization of emerging economy firms

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275 Scopus citations


An important step in the internationalization process of emerging economy firms is the shift from exports to foreign direct investment (FDI). We integrate the resource- and institution-based views to suggest that firms that can use unique institutional advantages are more likely to make this shift. We test these arguments with a longitudinal sample of 28,563 firm-year observations (1989-2005). We found that firms that are affiliated with a business group, have more firm- and group-level international experience, have more technological and marketing resources, and operate in service industries are more likely to shift from exports to FDI.

Original languageEnglish (US)
Pages (from-to)12-20
Number of pages9
JournalJournal of World Business
Issue number1
StatePublished - Jan 2014

All Science Journal Classification (ASJC) codes

  • Business and International Management
  • Finance
  • Marketing


  • Emerging economy firms
  • Exports
  • FDI
  • Institutional theory
  • Internationalization process
  • Resource based view


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