Direction of outward FDI of EMNEs: evidence from the Indian pharmaceutical sector

Sumon Bhaumik, Nigel Driffield

Research output: Contribution to journalArticle

Abstract

This article seeks to add to the small but growing literature of emerging-market multinational enterprises (EMNEs). Using two linked large firm-level databases, it seeks to explore the determinants of outward investment of Indian pharmaceutical companies, distinguishing between developed- versus developing-country destinations. It specifically examines the impact of two firm-level characteristics that embody “non-OLI” [ownership, location, and internalization] firm-specific capabilities of EMNEs. The finding of this study is that family firms are keen on investing in other developing countries but much less so in developed countries. However, international linkages in the form of foreign investors offset this.
Original languageEnglish
Pages (from-to)615-628
Number of pages14
JournalThunderbird International Business Review
Volume53
Issue number5
Early online date18 Aug 2011
DOIs
Publication statusPublished - Sep 2011

Bibliographical note

Bhaumik, S., & Driffield, N. (2011). Direction of outward FDI of EMNEs: evidence from the Indian pharmaceutical sector. Thunderbird international business review, 53(5), 615-628. © 2011 Wiley Periodicals, Inc.

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