Abstract
Scholarly interest on scrutinising internationalisation strategies used by multinational enterprises from emerging economies has been swiftly growing. New theoretical frameworks, such as the Linkage-Leverage- Learning (LLL) framework, competing with the traditional ones, such as the Ownership-Location-Internalisation (OLI) framework, have been put forward to explain their idiosyncratic behaviour. Using a database on foreign acquisitions undertaken by Indian multinational enterprises, this study tests these theoretical frameworks and reconciles differences between them
Highlights
This thesis tests the applicability of the OLI (Ownership-Location-Internalisation), and the LLL (Linkage-Leverage-Learning) frameworks in the case of Indian multinational enterprises’ (MNEs) internationalisation through foreign acquisitions
Indian MNEs possess ownership advantages, which are exploited by combining them with resources acquired from foreign networks
The experience of operating in a risky political environment at home has made Indian MNEs resilient towards political risk. This is a country specific advantage which has empowered Indian MNEs to invest in developing economies of Asia, Africa and South America to seek natural resources
Summary
This thesis tests the applicability of the OLI (Ownership-Location-Internalisation), and the LLL (Linkage-Leverage-Learning) frameworks in the case of Indian multinational enterprises’ (MNEs) internationalisation through foreign acquisitions. MNEs exploit their ownership advantages, and form linkages (networks) to augment strategic assets. Indian MNEs possess ownership advantages, which are exploited by combining them with resources acquired from foreign networks.
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