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The Competitive Advantage of Emerging Market Multinationals

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Peter J. Williamson, Ravi Ramamurti, Afonso Fleury, Maria Tereza Leme Fleury, Moacir de Miranda Oliveira Junior, Felipe Mendes Borini, Sergey Filippov, Alexander Settles, Nikhil Celly, Jaideep Prabhu, Venkat Subramanian, Eden Yin, Bridgette Sullivan-Taylor, Ram Mudambi, Valery S. Katkalo, Andrey G. Medvedev, Suma Athreye, Kaimei Wang, Yongjiang Shi, Alvaro Cuervo-Cazurra, Jagjit Singh Srai, Alvaro B. Cyrino, Erika P. Barcellos, Kalman Kalotay, Andrei Panibratov, Anand P. Raman, Simon Collinson, Ravi Sarathy
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  • Date Published: May 2013
  • availability: In stock
  • format: Paperback
  • isbn: 9781107659414

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About the Authors
  • Multinationals from Brazil, Russia, India and China, known as the BRIC countries, are a new and powerful force in global competition and are challenging the incumbency of much older global companies from the developed world. Emerging market multinational enterprises (EMNEs) now account for a quarter of foreign investment in the world, are a prolific source of innovation and make almost one in three cross-border acquisitions globally. Despite this, traditional theories of international business do not provide a satisfactory explanation of their behaviour or performance. The authors of this book shine new light on the rise of the EMNEs and how they have built a competitive advantage through innovation, novel configurations of their international value chains and the acquisition of companies overseas. Any manager, policy maker or researcher who wishes to understand the emergence of this new breed of multinational will find this book an invaluable resource.

    • Theoretical insights are illustrated with many examples of innovative practice within the EMNEs
    • Provides rigorous analysis of a rich data set by internationally respected experts
    • Draws conclusions to guide future business strategy, government policy decisions and research directions
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    Reviews & endorsements

    "This volume is an important and thoughtful contribution toward understanding the roots, evolution and current extent of the competitive advantages that help emerging market multinationals to become global players in the world FDI market." - Karl P. Sauvant, Vale Columbia Center on Sustainable International Investment, Columbia Law School

    "Emerging market multinationals (MNEs) are seizing with gusto the opportunities of globalization and of the global economic crisis. They spread their wings, deploy their ownership advantages, acquire the assets they lack, such as brands, patents and distribution channels, and take market share from multinationals headquartered in developed economies. The Competitive Advantage of Emerging Market Multinationals analyses the processes that are driving the fast accumulation of global capabilities and networks by BRIC-based MNEs. The reassessment of the explanatory power of existing theories of international business will be of great value to scholars and students; managers and policy makers will also find useful insights that can hopefully lead to better decision-making for all interested stakeholders." - Andrea Goldstein, OECD

    "The Competitive Advantage of Emerging Market Multinationals investigates how firms based in Brazil, Russia, India and China are developing new products and processes, configuring their international value chains, and acquiring and exploiting capabilities through mergers and acquisitions. One exciting feature of this book is the parallel treatment of the strategies used by Brazilian, Russian, Indian and Chinese firms in these three areas. This book is must-read for anyone eager to understand the international expansion of firms based in these four countries." - Jean-François Hennart, Center for Research in Economics and Business, Tilburg University, The Netherlands

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    Product details

    • Date Published: May 2013
    • format: Paperback
    • isbn: 9781107659414
    • length: 374 pages
    • dimensions: 229 x 142 x 17 mm
    • weight: 0.6kg
    • contains: 21 b/w illus. 32 tables
    • availability: In stock
  • Table of Contents

    Introduction Peter J. Williamson, Ravi Ramamurti, Afonso Fleury and Maria Tereza Leme Fleury
    Part I. Innovation and Competitive Advantage:
    1. Innovation by Brazilian EMNEs Moacir de Miranda Oliveira Junior, Felipe Mendes Borini and Afonso Fleury
    2. Innovation by Russian EMNEs Sergey Filippov and Alexander Settles
    3. Innovation by Indian EMNEs Nikhil Celly, Jaideep Prabhu and Venkat Subramanian
    4. Innovation by Chinese EMNEs Peter J. Williamson and Eden Yin
    Commentaries on Part I: i. The contribution of innovation to EMNEs' competitive advantage Bridgette Sullivan-Taylor
    ii. Innovation in emerging markets and the rise of emerging market MNEs Ram Mudambi
    Part II. Value-Chain Configuration and Competitive Advantage:
    5. Value-chain configuration of Brazilian EMNEs Afonso Fleury, Maria Tereza Leme Fleury and Felipe Mendes Borini
    6. Value-chain configurations of Russian EMNEs Valery S. Katkalo and Andrey G. Medvedev
    7. Value-chain configurations of Indian EMNEs Suma Athreye
    8. Value-chain configurations of Chinese EMNEs Kaimei Wang and Yongjiang Shi
    Commentaries on Part II: i. How emerging market multinational companies upgrade capabilities using value-chain configuration in advanced economies Alvaro Cuervo-Cazurra
    ii. Value-chain configurations of emerging country multinationals Jagjit Singh Srai
    Part III. Mergers and Acquisitions and Competitive Advantage:
    9. Cross-border M&A and competitive advantage of Brazilian EMNEs Alvaro B. Cyrino and Erika P. Barcellos
    10. Cross-border M&A and competitive advantage of Russian EMNEs Kalman Kalotay and Andrei Panibratov
    11. Cross-border M&A and competitive advantage of Indian EMNEs Ravi Ramamurti
    12. Cross-border M&A and competitive advantage of Chinese EMNEs Peter J. Williamson and Anand P. Raman
    Commentaries on Part III: i. Cross-border M&A by the new multinationals: different reasons to 'go global' Simon Collinson
    ii. Cross-border acquisitions by EMNEs Ravi Sarathy
    Conclusion: rethinking the implications of EMNEs' rise Peter J. Williamson, Ravi Ramamurti, Afonso Fleury and Maria Tereza Leme Fleury
    References
    Index.

  • Editors

    Peter J. Williamson, Judge Business School, Cambridge
    Peter J. Williamson is Professor of International Management at the Judge Business School, University of Cambridge. He also consults on global strategy, M&A and Chinese business, and serves as non-executive director of several companies spanning financial services through to green energy.

    Ravi Ramamurti, Northeastern University, Boston
    Ravi Ramamurti is the CBA Distinguished Professor of International Business and Strategy and Director of the Center for Emerging Markets at Northeastern University, Boston. His previous publications include Emerging Multinationals in Emerging Markets (Cambridge University Press, 2009).

    Afonso Fleury, University of Sao Paulo
    Afonso Fleury is a professor in the Production Engineering Department at the University of São Paulo. He is also a consultant to Brazilian public and private firms as well as subsidiaries of multinationals. His previous publications include Brazilian Multinationals (Cambridge University Press, 2011).

    Maria Tereza Leme Fleury, Fundação Getulio Vargas, São Paulo
    Maria Tereza Leme Fleury is Dean of the School of Business Administration at Fundacio Getulio Vargas in São Paulo. Her previous publications include Brazilian Multinationals (Cambridge University Press, 2011).

    Contributors

    Peter J. Williamson, Ravi Ramamurti, Afonso Fleury, Maria Tereza Leme Fleury, Moacir de Miranda Oliveira Junior, Felipe Mendes Borini, Sergey Filippov, Alexander Settles, Nikhil Celly, Jaideep Prabhu, Venkat Subramanian, Eden Yin, Bridgette Sullivan-Taylor, Ram Mudambi, Valery S. Katkalo, Andrey G. Medvedev, Suma Athreye, Kaimei Wang, Yongjiang Shi, Alvaro Cuervo-Cazurra, Jagjit Singh Srai, Alvaro B. Cyrino, Erika P. Barcellos, Kalman Kalotay, Andrei Panibratov, Anand P. Raman, Simon Collinson, Ravi Sarathy

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