Legal form of the firm and overseas market choice in India’s software and IT industry

Inward–outward connections and their impact on firm growth

“…The reasons for this result may lie in the fact that private limited enterprises are halfway along the road to public limited enterprises, partnerships and sole proprietors. Thus, private limited enterprises may enjoy better growth prospects, because they have easier access to capital compared to partnerships or enterprises with sole proprietors (Majumdar, Vora, & Nag, 2012).…”

Emerging Multinationals from Mid‐Range Economies: The Influence of Institutions and Factor Markets

“…Within the complex interplay between institutional environments and factor market development in Figure , corporate governance of the incumbent firm and its overseas subsidiaries may play an important role in setting the internal framework for resource orchestration and strategic decisions (Filatotchev et al., ; Gammeltoft et al., ; Majumdar et al., ; Tsao and Chen, ; Zhou and Delios, ). Corporate governance at the headquarters level and of a headquarters–subsidiary relationship forms an integral part of the strategic fit between the firm and its external environments which has been largely unexplored by studies in IB.…”

“…Some Indian firms have used OFDI to overcome India's lack of infrastructure development. They have taken advantage of their natural resources and understanding of better market institutions to develop new MNEs in global markets (Majumdar et al., ). Indian acquisitions in developed economies tend to be undertaken by private firms, which are more receptive in host countries.…”

“…A substantial body of research has focused on the governance roles of dominant blockholders, especially in the environment of emerging and less developed economies (Claessens et al., ; Jiang and Peng, , ). In Southeast Asia and elsewhere, family owners and other blockholders have been identified as an important governance constituency that can shape strategic decisions, including internationalization (Boyd and Hoskisson, ; Claessens et al., ; Filatotchev et al., ; Globerman et al., ; La Porta et al., ; Majumdar et al., ; Peng and Jiang, ). For example, presence of foreign institutional shareholders, rather than pure family ownership or non‐family insider ownership, is generally associated with high commitment entry modes (Filatotchev et al., ).…”

“…These diverse research streams suggest that corporate governance parameters of emerging multinationals may have a significant impact on business strategies such as M&As and corporate entrepreneurship (Majumdar et al., ). The traditional internalization theory approach limits our understanding of the behaviour of emerging multinationals.…”