Internationalization of emerging market multinational enterprises: A systematic literature review and future directions

Abstract

Emerging market multinational enterprises (EMNEs) has received an increased scholarly inquiry considering its unprecedent rise that shape the new worldwide economy. In response, this study is aimed to synthesize empirical findings by conducting a systematic and an integrative review of the existent research on the internationalization in the context of emerging market multinationals during the period 1994–2020. Relying upon a systematic review methodology, 77 studies were subjected to a critical assessment of theoretical, methodological, and empirical aspects, covering conceptual approaches, antecedents, dynamics, and outcomes of internationalization, within the context of emerging multinationals. Empirical evidence elucidates that internationalization of EMNEs is still far from reaching maturity due to the lack of a synthetic theoretical foundations, discrepancies among research methodologies, and the fragmented nature of research results. To strengthen these areas, this paper signals fruitful future research endeavours that are particularly worth exploring.