AIB Insights Call for Papers: How Really Unique are Emerging Markets and their Firms?

Deadline extended to April 5

Special Issue Co-editors:
Snehal Awate (Indian Institute of Technology Bombay)
Kristin Brandl (University of Victoria and Copenhagen Business School)
Bersant Hobdari (Copenhagen Business School)
William Newburry (Florida International University), AIB Insights Editor
Elizabeth L. Rose (Indian Institute of Management Udaipur), AIB Insights Associate Editor

AIB Insights is a peer-reviewed journal that publishes Actionable International Business Insights. Short, topical, thought-provoking articles should be akin to written “TED Talks”, with an applied/actionable focus; articles should be heavy on insights, but light on references, jargon, methods, and theory. These insights must be relevant to the international business community of researchers, practitioners, policymakers, and educators. With this call for papers, we collaborate with the AIB Emerging Markets Shared Interest Group (EM-SIG) and invite submissions on the topic: How really unique are emerging markets and their firms?

There is an ongoing debate among IB scholars, practitioners, and policymakers on how unique emerging markets (EMs) and their firms really are, and if this uniqueness warrants or requires special attention, distinct policies, and new theories. The arguments for the uniqueness of EMs are often grounded in their country contexts, i.e., economic and institutional differences that affect how businesses operate and investments perform in these markets (Kumar, Mudambi, & Gray, 2013). EMs frequently face governance-related challenges, such as political instability, corruption, and policy uncertainty, which can affect economic performance, trade, and investment activities in profound ways (Doh, Rodrigues, Saka-Helmhout, & Makhija, 2017). However, EMs include a large group of countries, which defy a uniform narrative. The absence of an agreed-upon formal definition of EMs also allows for vague boundaries between mature and emerging markets, based on ambiguous attributes such as income levels, sustained market access, and global economic relevance. The distinctions between EMs and mature markets may not always be salient, depending on the markets and characteristics being compared. We also can observe increasing convergence among many of these markets, although meaningful differences still remain between most emerging and most developed markets, as well as between emerging markets in different regions. Thus, how truly unique are EMs as a group, and why do we need to consider these differences? What impact do key characteristics have on international business?

Similarly, multinational enterprises (MNEs) from EMs – EMNEs – have been identified as unique, displaying unusual characteristics and internationalization approaches. Their internationalization has been argued to differ from the classic internationalization approach of many MNEs from mature markets, i.e., it is based on a deep understanding of emerging market conditions and dynamics (Ramamurti & Singh, 2009). Moreover, the objectives of their internationalization have been argued to vary widely, resulting in various unanticipated entry modes and times, based on existing theoretical frameworks (Mathews, 2006; Luo & Tung, 2007). However, general principles of IB theory that distinguish firm-specific and location-specific advantages are argued to apply to EMNEs (Rugman, 2010). This raises the question of whether they really are so different to MNEs from mature markets to require new considerations and theories, or do we just need to extend existing theories (as suggested by Cuervo-Cazurra, 2012)?

This special issue of AIB Insights aims to take stock of research on EMs and EMNEs and debate if they are as unique as claimed. The goal is to offer international managers, policymakers, and scholars in the IB field insights into the specificity of these markets and firms. The special issue will feature contributions that have a decidedly managerial orientation, but that draw from theory and/or observable characteristics of these markets and firms. Below is a list of illustrative topics that could be addressed and debated:

• What and who classifies an emerging market? What are the characteristics of an emerging market? How does this classification affect the international business strategies and decisions of MNE managers?
• From what are these countries emerging, and when are they mature? What recommendations can we provide to EMNE managers, to assist in their strategic decision-making with respect to this development process?
• What is(are) the difference(s) between an emerging market and a mature market? How can we better advise MNE managers and government policymakers in terms of these differences?
• Do we need new theories and frameworks to explain EMNEs? If so, what new insights can these new theories and frameworks provide to EMNE managers and government policymakers? What advice can we provide to IB researchers, based on these theoretical frameworks?
• To what degree do EMs differ between geographic regions, and how can we better advise stakeholders operating across these regions?
• How does policymaking differ from markets that are classified as emerging and those that are classified as mature? What advice can we provide to policymakers with respect to addressing these differences?
• How can stakeholders (managers, policymakers, researchers, etc.) better address the UN Sustainable Development Goals (SDGs) in the context of EMs?
• What unique problems are EMs facing that are not evident in mature markets? What implications do these differences have for policymakers?
• How can we improve education regarding EMs and EMNEs?

Submission Process
AIB Insights is an official publication of the Academy of International Business that provides an outlet for short (around 2500 words), interesting, topical, current, and thought-provoking articles. Colleagues interested in submitting to this Special Issue should consult the AIB Insights Editorial Policy and use the Online Manuscript Submission System. Please mention “Special Issue: Unique Emerging Markets” in your cover letter when submitting your manuscript.

Deadline
The deadline for full manuscript submissions has been extended to April 5, 2024. The expected publication of the Special Issue is late 2024. Note that, in order to accelerate the process, manuscripts submitted prior to the submission deadline will be reviewed upon receipt.

References
Cuervo‐Cazurra, A. 2012. Extending theory by analyzing developing country multinational companies: Solving the Goldilocks debate. Global Strategy Journal, 2(3), 153-167.
Doh, J., Rodrigues, S., Saka-Helmhout, A., & Makhija, M. 2017. International business responses to institutional voids. Journal of International Business Studies, 48, 293-307.
Kumar, V., Mudambi, R., & Gray, S. 2013. Internationalization, innovation and institutions: The 3 I’s underpinning the competitiveness of emerging market firms. Journal of International Management, 19(3), 203-206.
Luo, Y., & Tung, R. L. 2007. International expansion of emerging market enterprises: A springboard perspective. Journal of International Business Studies, 38, 481-498.
Mathews, J.A. 2006. Dragon multinationals: New players in 21st century globalization. Asia Pacific Journal of Management, 23: 5-27.
Ramamurti, R., & Singh, J. 2009. Emerging Multinationals in Emerging Markets. Cambridge University Press: Cambridge, U.K.
Rugman A. M. 2010. Do we need a new theory to explain emerging market MNEs? In: Foreign Direct Investments from Emerging Markets: The Challenges Ahead, Sauvant, K. P., Maschek, W.A., & McAllister, G. A. (eds). Palgrave McMillan: New York.