Call for Papers- Emerging Market MNCs: Post Acquisition Strategies

Deadline extended to January 31st, 2017

Guest Editors:

Professor Mehmet Demirbag, University of Essex, UK

Professor Attila Yaprak, Wayne State University, USA

Professor Geoffrey Wood, University of Essex, UK


Multinational companies (MNCs) from the developing and emerging economies
have grown dramatically in recent years in volume, size and scope. For
example, while only 19 firms from emerging and developing economies were
featured in the Fortune Global 500 list in 1990, this number increased to
137 in 2015 (excluding South Korea and Singapore). Amongst these global
challengers, some have even grown to be the market leaders in their
respective industries. In terms of overall revenue, for instance, Huwei
technologies and ZTE, both of China, are now the second and the
fifth-largest global manufacturers of telecom equipment. Similarly, Mexico's
Grupo Bimbo is the largest bread maker in the world and Russia's United
Company Rusal is the largest aluminium producer globally (Boston Consulting
Group, 2012).  The 2015 list of the Forbes Global 2000 included 562
companies from emerging countries (Forbes, 2015). As the profiles of
emerging economies increase, so will their influence, and the global ranking
of their MNCs.  Many observers view these companies not only as the hidden
engines of global trade and economic growth in the near future, but as part
and parcel of fundamental changes in the global economic system, and,
indeed, in relative national political leverage (BCG, 2012). 

There is a foundation of work that deals explicitly with the expansion of
Emerging Market Multinational Corporations (EMNCs); examples would include
Lecraw (1977), Wells (1983) and Lall (1983). More recent studies in the
2000s accelerated this foundational work, including contributions by Khanna
and Palepu (2006 and 2010); Ramamurti and Singh (2009); Meyer (2004);
Mathews (2006); Luo and Tung (2007); Sheth (2008); Cuervo-Cazzura and
colleagues (e.g., Cuervo-Cazzura and Genc 2008); Buckley and colleagues
(e.g., Buckley et al 2008), Demirbag and colleagues (Demirbag et al., 2009;
Demirbag et al., 2010a; Demirbag et al., 2010b; Demirbag and Yaprak, 2015),
Jormanainen and Koveshnikov (2012) and Narula (2012). Although emerging
markets are not a homogeneous group of countries, there appears to be some
common dimensions in the recent upsurge of internationalization of firms
from these countries. For instance, some common challenges these firms face
include a liability of emergingness due to their country of origin, existing
knowledge gaps between themselves and multinational corporations from the
developed countries (DMNCs), their poor image in terms of corporate social
responsibility, and at times, controversial political relations in the
developed markets. At the same time, common contributions they have made to
the new economic order include the new business models, insights, and energy
they have begun to inject into the new global ecosystem. 

It is argued that the challenges EMNCs face motivate them to follow an
accelerated internationalization strategy through aggressive outward FDI,
especially in the form of mergers and acquisitions (M&As). M&As are seen as
strategic vehicles that help EMNCs acquire and possess tangible and/or
intangible strategic assets to compensate for their competitive
disadvantages in being latecomers to international business and lacking the
resources and advanced capabilities required for success in the
international arena  (Luo and Tung, 2007; Rui and Yip, 2008; Deng, 2010;
Zhong et al, 2013). That is, M&As are perceived as effective mechanisms to
catch up with developed market MNCs (Madhok and Keyhani, 2012), secure
established brands, and gain quick access to advanced technology (Demirbag
et al., 2009; Luo and Tung, 2007, Nair and Demirbag, 2015; Nair et al.,
2015a; 2015b). In comparison with strategic alliances and JVs, M&As give
EMNCs more direct control over the operation of, and the returns from, these
acquired strategic assets and offer significant value-creation opportunities
that may not otherwise be available to them (Athreye and Godley, 2009;
Rabbiosi et al 2012).


While EMNCs are gaining a strong foothold in the global economy, we know
very little about their post entry activities such as integration and
associated processes and post-merger innovation trajectories, their
reallocation of production, and reconfiguration of marketing strategies. The
international business literature has focused primarily on Western MNCs.
With relatively lower levels of international experience, it is possible
that EMNCs will face profoundly different challenges when compared to their
Western economy counterparts These include negative country of origin
perceptions and heightened levels of consumer ethnocentrism which may
reflect unfavourably on their products, brands, and marketing strategies. .
This special issue is dedicated to publishing conceptual and empirical
research  that will focus explicitly on these kinds of issues; that is, work
that examines the post entry and growth strategies and post-acquisition
integration and associated processes in acquired subsidiaries of EMNCs. 

Aims and Key Issues

The aim of this special issue is to shed new light on what happens when
firms headquartered in the mature markets are taken over by EMNC.  The
proposed issue seeks to bring together the work of leading scholars from
various disciplines, present recently synthesized work, and in-depth
analyses of MNCs from emerging economies.  Potential topics the special
issue will address will include (but are not be limited to):

-   Evolution of EMNCs through FDI, and the theoretical implications of this

-   Conceptualizations of internationalisation strategies exhibited by EMNCs
in contrast to Western MNCs

-   Motives for international market expansion and internationalization
patterns of EMNCs

-   Market entry strategies of EMNCs: Location choice and entry mode

-   Acquisitions and post-acquisition strategies of EMNCs: Innovation

-   Acquisitions and post-acquisition strategies of EMNCs: Location and
strategies of production

-   Acquisitions and post-acquisition strategies of EMNCs: HRM policies and

-   Acquisitions and post-acquisition strategies of EMNCs: Supply chain and

-   The implications of emergingness on EMNCs' competitiveness and

-   Global expansion strategies of EMNCs: diversification and performance

-   Mature market home country institutions and implications for competitive
strategies of EMNCs

-   Multiple institutional locales and corporate governance of EMNCs

-   State Owned EMNCs and their global expansion strategies

-   EMNCs and sovereign wealth Funds

-   Country of origin image and EMNCs

-   Politics, diplomacy and EMNCs

-   Post-acquisition marketing and branding strategies of EMNCs

-   Customers' perceptions of, and reactions to, products produced/branded
by EMNCs.

-   People management and HRM strategies of EMNCs in acquired mature market

-   Knowledge management and knowledge transfer in EMNCs

-   Emerging Market MNCs, mergers, acquisitions and CSR


The special issue will undergo the normal rigorous, double-blind review
process to ensure relevance and quality in contributions. The key criteria
for acceptance of manuscripts are (1) relevance to the theme of the special
issue, (2) scholarly rigor shown in the question addressed, and (3) the
theoretical managerial, and/or policy contribution to the field. Submitted
papers must be based on original work and not under consideration at any
other journal or scholarly outlet. 

Submission deadline: January 31st, 2017 

Review Process: February through June, 2017

Notification on the acceptance or rejection of papers: July-August, 2017

Guest Editors:

Professor Mehmet Demirbag, University of Essex,
<mailto:[log in to unmask]> [log in to unmask]

Professor Geoffrey Wood, University of Essex,  <mailto:[log in to unmask]>
[log in to unmask]

Professor Attila Yaprak, Wayne State University,
<mailto:[log in to unmask]> [log in to unmask] 


Athreye, S., & Godley, A. (2009). Internationalization and technological
leapfrogging in the pharmaceutical industry. Industrial and Corporate
Change, 18(2), 295-323.


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Cuervo-Cazurra, A., & Genc, M. (2008). Transforming disadvantages into
advantages: Developing country MNEs in the least developed countries.
Journal of International Business Studies, 39, 957-979. 


Cuervo-Cazurra, A., Meyer, K., & Ramamurti, R. (2015). Explaining
internationalization of emerging economy multinationals: The relative
resource specialization of firm and environment mechanism. In M. Demirbag &
A. Yaprak (Eds.), Handbook of Emerging Market MNEs (pp.68-88). Cheltenham:
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Demirbag, M., McGuinness, M., & Altay, H. (2010a). Perceptions of
institutional environment and entry mode: FDI from an emerging country.
Management International Review, 50(2), 207-240.

Demirbag, M., Tatoglu, E., & Glaister, K. W. (2010b). Institutional and
transaction cost determinants of Turkish MNEs' location choice.
International Marketing Review, 27(3), 272-294. 


Demirbag, M., Tatoglu, E., & Glaister, K. W. (2009). Equity-based entry
modes of emerging country multinationals: Lessons from Turkey. Journal of
World Business, 44, 445-462. 


Demirbag, M., Tatoglu, E., & Wilkinson, A. (2015). Adoption of
high-performance work systems by local subsidiaries of developed country and
Turkish MNEs and indigenous firms in Turkey. Human Resource Management,


Demirbag, M., & Yaprak, A. (2015). Handbook of Emerging Market MNEs.
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Madhok, A., & Keyhani, M. (2012). Acquisitions as entrepreneurship:
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Mathews, J. A. (2006). Dragon multinationals: New players in 21st century
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Meyer, K. E. (2004). Perspectives on multinational enterprises in emerging
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Nair, S., & Demirbag, M. (2015). Indian multinationals: Location choice of
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Emerging Market MNEs (pp.154-179). Cheltenham: Edward Elgar.

Nair, S. R., Demirbag, M. & Mellahi, K. (2015a). Reverse knowledge transfer
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Nair, S. R., Demirbag, M. & Mellahi, K. (2015b). Reverse knowledge transfer
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from developing countries. Global Strategy Journal, 2, 188-204. 


Rabbiosi, L., Elia, S., & Bertoni, F. (2012). Acquistions by EMNCs in
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