The American Model of the Multinational Firm and the “New” Multinationals From Emerging Economies

Abstract

The traditional American model of multinational enterprise (MNE), characterized by foreign direct investment (FDI) aimed at exploiting firm-specific capabilities developed at home and a gradual countryby-country approach of internationalization, dominated the global economy during much of the postWorld War II period. In the last two decades, however, new MNEs from emerging, upper-middle-income, or oil-rich countries have followed completely different patterns of international expansion. In this paper we analyze the processes through which these firms became MNEs and to what extent we need a new theory to explain their international growth.

Cross-listing and the scope of the firm

“…Therefore, firms have more resources to allocate to both related diversification by leveraging technological synergy and unrelated diversification by leveraging financial synergy (Hoskisson & Hitt, 1994). Although research in DE suggests that better formal institutions may limit the necessity of unrelated diversification , recent research in EE argues that ambitious firms from EE may have different motivations from conventional DE firms, and these ambitious EE firms will accelerate their expansion by leveraging their capabilities from both DE and EE (Guillen & Garcia-Canal, 2009;Ng, 2007).…”

“…For example, Guillen and Garcia-Canal (2009) propose that it is important for these new MNEs to accelerate the speed of internationalization. While the existing literature has focused on these firms' product market side (which, of course, is crucial), we suggest that cross-listing is an important but previously underexplored channel through which internationalization can be accelerated.…”

O desenvolvimento de competências organizacionais em diferentes modelos gerenciais de subsidiárias de empresas multinacionais Brasileiras

“…Esse resultado reforça a literatura sobre a importância dos relacionamentos das subsidiárias (Andersson & Forsgren, 2006) e o modelo metanacional (Doz et al, 2001), assim como confirma os estudos (Buckley et. al., 2007;Guillén & Garcia-Canal, 2009;Mathews, 2006) que apresentam a habilidade de estabelecer redes de negócios no estrangeiro, como característica diferenciada e superior das multinacionais emergentes.…”

“…Entretanto é importante salientar que para o caso particular das multinacionais emergentes, tais como as brasileiras, é maior a capacidade de adaptação em ambientes institucionais e competitivos adversos, em virtude da herança de origem de países com condições similares (Guillén & Garcia-Canal, 2009;Sull & Escobari, 2004) Felipe Mendes Borini, Maria Tereza Leme Fleury RAC, Curitiba, v. 14, n. 4, art. 1, pp.…”

“…Os estudos ainda não são conclusivos quanto a um modelo para distinguir os diferentes tipos de competências (Andersson & Forsgren, 2000;Holm & Perdersen, 2000); quase a totalidade dos estudos enfoca as subsidiárias de multinacionais tradicionais (1) , (Guillén & Garcia-Canal, 2009), o que deixa uma lacuna a ser explorada: a importância do desenvolvimento, transferência e reconhecimento das competências de subsidiárias para as multinacionais emergentes (2) (Guillén & Garcia-Canal, 2009), tais como as subsidiárias de multinacionais brasileiras.…”