The Internationalization of Asian Firms: An Overview and Research Agenda
As the field of international business has expanded and gathered momentum, it is important to study different problems associated with the internationalization phenomenon. Whenever a company ventures abroad, various decisions have to be made regarding how its business activities in a foreign market should be conducted (Welch, Benito, and Petersen 2008) Traditionally, multinational enterprises from developed countries dominated the research field of international business. However, numerous firms from emerging countries have internationalized their business in recent years by adopting organic and inorganic growth strategies. The successful multinational enterprises from emerging countries use a wide range of entry modes such as exporting, joint ventures and strategic alliances, acquisitions, and greenfield investments. Emerging multinational enterprises dominate many strategically important sectors in the emerging economies such as information technology, automobile, banking, and retailing. At the same time, in some countries, local governments and various local stakeholders have become more critical about the activities and conduct of foreign multinational enterprises in different parts of the world.