Journal
INTERNATIONAL BUSINESS REVIEW
Volume 31, Issue 6, Pages -Publisher
ELSEVIER
DOI: 10.1016/j.ibusrev.2022.102013
Keywords
EMNEs; OFDI; China; India; Heterogeneity; Drivers and trends
Categories
Funding
- Mason Lake Fellowship Program Fund 2019 (MLFP-2019)
- [DFAT-AJF2020097]
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This study examines the differences and similarities between Chinese and Indian multinational enterprises' OFDI activities, illustrating the impact of heterogeneity on OFDI patterns and behaviors.
Previous research has identified a distinction between the internationalization of emerging market multinational enterprises (EMNEs) and their advanced-economy counterparts. However, the question as to whether EMNEs conduct outward foreign direct investment (OFDI) in a uniform manner remains under-studied. Prior studies have grouped together all emerging markets but have ignored the essential heterogeneity of EMNEs that leads to their diverse OFDI patterns and behaviours. In this study, we illustrate the drivers and related phenomena of heterogeneity by exploring differences and similarities between Chinese and Indian MNEs' OFDI activities, namely, investment destinations (i.e., advanced vs. emerging economies), the level of political relationships with host countries, industry sectors supported by institutional patronage, and the primary motivations of investment projects. We suggest that the heterogeneity in OFDI is the result of the institutional environment and the strategic priorities of the industry sector.
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