Asian emerging multinationals and the dynamics of institutions and networks

Multinationals from developing Asia originate from highly diverse countries. Their rise challenges various existing theoretical concepts on the internationalisation of MNEs, their institutional background and context-specific features. We suggest here that the role of institutions and firm networks must be better conceptualised to reflect the internationalisation of MNEs from developing Asia. In particular, we propose that a key driver for internationalisation is explained not just by social networks but also by dynamic evolution in network relationships within industry value chains. We also argue, given the context of increased regional integration, that institutional boundaries should be expanded from country to region.