Neither developed nor emerging: Dual paths for outward FDI and home country innovation in emerged market MNCs |
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| Institution: | 1. Department of Management and International Business, Florida International University College of Business, United States;2. Naveen Jindal School of Management, University of Texas at Dallas, United States;3. University of Kent Business School, Kent ME4 4AG, United Kingdom;4. Faculty of Business Administration, University of Macau, Macao;5. Faculty of Business and Economics, Monash University, Australia;6. Department of Management, City University of Hong Kong, Hong Kong;1. School of Business Administration, Dongbei University of Finance and Economics, China;2. Rutgers Business School, Rutgers University, United States;3. School of Statistics, Jilin University of Finance and Economics, China;4. Nottingham University Business School, University of Nottingham, United Kingdom |
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| Abstract: | 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. |
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| Keywords: | Cross-border knowledge transfer Crowding out effect Emerged market multinational corporations Industry peers Outward foreign direct investment Post-emerging economies Spillover effect |
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