The Competitive Advantage of Emerging Market Multinationals

EDITORS:
Peter J. Williamson, Judge Business School, Cambridge
Ravi Ramamurti, Northeastern University, Boston
Afonso Fleury, University of Sao Paulo
Maria Tereza Leme Fleury, Fundação Getulio Vargas, São Paulo



Multinationals from Brazil, Russia, India and China, known as the BRIC countries, are a new and powerful force in global competition and are challenging the incumbency of much older global companies from the developed world. Emerging market multinational enterprises (EMNEs) now account for a quarter of foreign investment in the world, are a prolific source of innovation and make almost one in three cross-border acquisitions globally. Despite this, traditional theories of international business do not provide a satisfactory explanation of their behaviour or performance. The authors of this book shine new light on the rise of the EMNEs and how they have built a competitive advantage through innovation, novel configurations of their international value chains and the acquisition of companies overseas. Any manager, policy maker or researcher who wishes to understand the emergence of this new breed of multinational will find this book an invaluable resource.

• Theoretical insights are illustrated with many examples of innovative practice within the EMNEs
• Provides rigorous analysis of a rich data set by internationally respected experts
• Draws conclusions to guide future business strategy, government policy decisions and research directions

Table of Contents

Introduction Peter J. Williamson, Ravi Ramamurti, Afonso Fleury and Maria Tereza Leme Fleury

Part I. Innovation and Competitive Advantage:
1. Innovation by Brazilian EMNEs Moacir de Miranda Oliveira Junior, Felipe Mendes Borini and Afonso Fleury
2. Innovation by Russian EMNEs Sergey Filippov and Alexander Settles
3. Innovation by Indian EMNEs Nikhil Celly, Jaideep Prabhu and Venkat Subramanian
4. Innovation by Chinese EMNEs Peter J. Williamson and Eden Yin
Commentaries on Part I: i. The contribution of innovation to EMNEs' competitive advantage Bridgette Sullivan-Taylor
ii. Innovation in emerging markets and the rise of emerging market MNEs Ram Mudambi

Part II. Value-Chain Configuration and Competitive Advantage:
5. Value-chain configuration of Brazilian EMNEs Afonso Fleury, Maria Tereza Leme Fleury and Felipe Mendes Borini
6. Value-chain configurations of Russian EMNEs Valery S. Katkalo and Andrey G. Medvedev
7. Value-chain configurations of Indian EMNEs Suma Athreye
8. Value-chain configurations of Chinese EMNEs Kaimei Wang and Yongjiang Shi
Commentaries on Part II: i. How emerging market multinational companies upgrade capabilities using value-chain configuration in advanced economies Alvaro Cuervo-Cazurra
ii. Value-chain configurations of emerging country multinationals Jagjit Singh Srai

Part III. Mergers and Acquisitions and Competitive Advantage:
9. Cross-border M&A and competitive advantage of Brazilian EMNEs Alvaro B. Cyrino and Erika P. Barcellos
10. Cross-border M&A and competitive advantage of Russian EMNEs Kalman Kalotay and Andrei Panibratov
11. Cross-border M&A and competitive advantage of Indian EMNEs Ravi Ramamurti
12. Cross-border M&A and competitive advantage of Chinese EMNEs Peter J. Williamson and Anand P. Raman
Commentaries on Part III: i. Cross-border M&A by the new multinationals: different reasons to 'go global' Simon Collinson
ii. Cross-border acquisitions by EMNEs Ravi Sarathy
Conclusion: rethinking the implications of EMNEs' rise Peter J. Williamson, Ravi Ramamurti, Afonso Fleury and Maria Tereza Leme Fleury

References
Index.