- Title
- Neither developed nor emerging: Dual paths for outward FDI and home country innovation in emerged market MNCs
- Creator
- Lee, Eun Su; Liu, Wei; Yang, Jing Yu
- Relation
- International Business Review Vol. -, Issue 23 September 2021, no. 101925
- Publisher Link
- http://dx.doi.org/10.1016/j.ibusrev.2021.101925
- Publisher
- Elsevier
- Resource Type
- journal article
- Date
- 2021
- Description
- Emerged market multinational corporations (EDMNCs) ‒ those based in emerged markets that have transitioned out of emerging economic status ‒ have received little research interest from the international business scholarship, despite their growing presence in the global market. EDMNCs face significant competitive pressure to leverage cross-border knowledge to innovate and leapfrog their middle-zone status between emerging and developed market multinational corporations. Analyzing 174 publicly listed South Korean MNCs and their outward foreign direct investment (OFDI), we find that an EDMNC's OFDI into developed and emerging markets contributes unequally to its home-country innovation. We also elaborate on the moderating effect of industry peers’ OFDI into developed countries through crowding out and spillover effects. These findings have implications for the OFDI and innovation literature in general, and particularly for international business scholarship focusing on an under-investigated category of MNCs that are increasingly becoming successful in international competition.
- Subject
- cross-border knowledge transfer; crowding out effect; emerged market multinational corporations; industry peers; outward foreign direct investment; post-emerging economies; SDG 9; Sustainable Development Goals
- Identifier
- http://hdl.handle.net/1959.13/1441123
- Identifier
- uon:41326
- Identifier
- ISSN:0969-5931
- Language
- eng
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Goal 9: Industry, Innovation and Infrastructure
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