Expansión internacional de empresas colombianas: entendiendo su “surgimiento” en los mercados extranjeros
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may 6, 2016
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Resumen
En este estudio se muestra que aunque no hay evidencia de un patrón generalizable en el proceso de internacionalización de compañías colombianas, hay algunos rasgos comunes en la mayoría de las empresas observadas: la elección de exportaciones como el modo de entrada inicial, el ingreso a países con baja distancia psicológica y geográfica, y el desarrollo de ventajas estratégicas locales que eventualmente se replican en el exterior. Se utilizaron una encuesta y una entrevista estructurada que incluyen variables numéricas y categóricas seguido de un análisis cruzado de casos. También se encontró que las decisiones de internacionalización operan bajo una base ad-hoc y dependen de la experiencia y la intuición de los altos ejecutivos de las empresas
Keywords
entry mode decisions, internationalization., multilatinasdecisiones de modo de entrada, internacionalización., multilatinasmultilatinas, decisões de modo de entrada, internacionalização.
References
Aguiar, M.; Becerra, J.; De Juan, J.; Leone, E.; Nieponice, G.; Peña, I.; Pikman, M. and Ukon, M. (2009). The 2009 BCG Multilatinas: A Fresh Look at Latin America and How a New Breed of Competitors Are Reshaping the Business Landscape. Boston: The Boston Consulting Group.
Amann, E. (2009). Technology, public policy and the emergence of Brazilian multinationals. In Brazil as economic superpower? Understanding Brazil’s changing role in the global economy. The Brookings Institution: Washington. 187-203.
AmericaEconomia. (2015). Ranking Multilatinas 2015. AmericaEconomia. Retrieved on April 15th 2016 from http://rankings.americaeconomia.com/multilatinas-2015/
Arbix, G. and Caseiro, L. (2011). Destination and strategy of Brazilian multinationals. Economics, Management and Financial Markets, 6(1), 207-238.
Aybar, B. and Ficici, A. (2009). Cross-Border acquisitions and firm value: An analysis of emerging-market multinationals. Journal of International Business Studies, 40, 1317-1338.
Banco de la República de Colombia. (2015). Flujos de inversión directa. Retrieved on December 11th From: http://www.banrep.gov.co/seriesestadisticas/ see_s_externo.htm#flujos
Bandeira-de-Mello, R.; Arreola, M.F. and Marcon, R. (2012). The importance of nurturing political connections for emerging multinationals: Evidence from Brazil. International Business and Management, 28, 155-171.
Bandeira-de-Mello, R.; Fleury, M.T.L; Aveline, C.E.S. and Gama, M.A.B. (2016). Unpacking the ambidexterity implementation process in the internationalization of emerging market multinationals. Journal of Business Research, 16(6), 2005-2017.
Barkema, H. G., Bell, H. J. H., and Pennings, J. M. (1996). Foreign entry, cultural barriers, and learning. Strategic Management Journal, 17 (2), 151-166.
Bianchi, C. (2014). Internationalisation of emerging market firms: an exploratory study of Chilean companies. International Journal of Emerging Markets, 9 (1), 54-78.
Borini, F. M. and Fleury, M.T.L (2011). Development of non-local competence in foreign subsidiaries of Brazilian multinationals. European Business Review, 23 (1), 106-119.
Borini, F. M.; Fleury, M.T.L. Leme and Fleury, A. (2009). Corporate competence in subsidiaries of Brazilian multinationals. Latin American Business Review, 10 (2-3), 161-185.
Buckley, P., and Casson, M. (2009). The internalisation theory of the multinational enterprise. A review of the progress of a research agenda after 30 years. Journal of International Business Studies, 40 (9), 1563-1580.
Buckley, P. J. and Mirza, H. (1988). The strategy of Pacific Asian multinationals. The Pacific review, 1 (1), 50-62.
Casanova, L. (2009). Global Latinas: Latin America’s Emerging Multinationals. Palgrave McMillan: New York.
Cantwell, J., Dunning, J. H., and Lundan, S. M. (2010). An evolutionary approach to understanding international business activity : The co-evolution of MNEs and the institutional environment. Journal of International Business Studies, 41 (4), 567-586.
Castro Olaya, J.; Castro Olaya, J., and Jaller, I. (2012). Internationalization patterns of multilatinas. Ad-minister, 21, 33-54.
Chen, H., and Chen, T. J. (1998). Networks linkage and location choices in foreign direct investment. Journal of International Business Studies, 29 (3), 445-468.
Chunovsky, D., and López, A. (2000). A third wave of FDI from developing countries: Latin American TNSs in the 1990s. Transnational Corporations, 9 (2), 31-74.
Ciravegna, L.; Fitzgerald, R., and Kundu, S. (2013). Operating in emerging markets. Financial Times (FT) Press, Pearson, New York, USA.
Collinson, S., and Rugman, Alan M. (2007). The regional character of Asian multinational enterprises. Asia Pacific Journal of Management, 24, 429-446.
Cuervo-Cazurra, A. (2007). Sequence of value-added activities in the multinationalization of developing country firms. Journal of International Management, 13(3), 803-822.
Cuervo-Cazurra, A. (2008). The internationalization of developing country MNEs: The case of Multilatinas. Journal of International Management, 14 (2), 138-154.
Cuervo-Cazurra, A. (2010). Multilatinas. Universia Business Review, 25, 14-33.
Cuervo-Cazurra, A. (2011). Selecting the country in which to start internationalization: The non-sequential internationalization model. Journal of World Business, 46, 426-437.
Cuervo-Cazurra, A. (2012). Extending theory by analyzing developing country multinational companies: Solving the goldilocks debate. Global Strategy Journal, 2, 153-167.
Cuervo-Cazurra, A., and Genc, M. (2008). The multinalization of developing country MNES: The case of multilatinas. Journal of International Business Studies, 39, 957-979.
Dakessian, L.C., and Feldman, P.R. (2013). Multilatinas and value creation from cross-border acquisition: An event study approach. BAR-Brazilian Administration Review, 10 (4), 462-489.
DANE. (2015). Comercio Exterior. Retrieved on December 11th from http://www.dane.gov.co/index.php?option=com_contentandview=articleandid=48andItemid=56
Dunning J. H., Kim C., and Park D. (2008). Old wine in new bottles: a comparison of emerging-market TNCs today and developed-country TNCs thirty years ago. In: The Rise of Transnational Corporations from Emerging Markets: Threat or Opportunity? Edward Elgar: Northampton, MA.
Dunning, J. H. (1977). Trade, location and economic activity and the MNE: A search for an eclectic approach. In The International Allocation of Economic Activity. Macmillan: London.
Dunning, J. H. (1980). Explaining changing patterns of international production: In defense of the eclectic theory. Oxford Bulletin of Economics and Statistics, 41 (4), 269-295.
Dunning, J. H. and Narula, R. (2004). Relational assets: the new competitive advantage of MNEs and countries. Multinationals and Industrial Competitiveness: A New Agenda. Edward Elgar: Cheltenham and Northampton.
Economist (2014, August 2nd). Passing the baton. Available online at: http://www.economist.com/news/finance-and-economics/21610305-colombia-overtakes-peru-become-regions-fastest-growing-big-economy-passing
Eisenhardt, K. M. (1989). Building theory from case study research. The Academy of Management Review, 14 (4), 532-550.
Fleury, A. and Fleury, M.T.L (2009). Brazilian multinationals: surfing the waves of internationalisation. In: Emerging multinationals in emerging markets (pp. 200-243). Cambridge University Press: Cambridge.
Fleury, A. and Fleury, M.T.L. (2011). Brazilian multinationals: Competences for Internationalization. Cambridge University Press: Cambridge.
Fleury, A.; Fleury, M.T.L., and Reis, G. G. (2010). The path is made by walking: The trajectory of Brazilian multinationals. Universia Business Review, 25, 34-55.
Gammeltoft, P.; Pradhan, J. P., and Goldstein, A. (2010). Emerging multinationals: home and host country determinants and outcomes. International Journal of Emerging Markets, 5 (3), 254-265.
Goldstein, A. (2009). Multinational companies from emerging economies composition, conceptualization and direction in the global economy. Indian Journal of Industrial Relations, 45 (1), 137-147.
Gonzalez-Perez, M. A., and Velez-Ocampo, J. F. (2014). Targeting one’s own region: Internationalisation trends of Colombian multinational companies. European Business Review, 26 (6), 531-551.
Guillén, M. F., and García-Canal, E. (2009). The American model of the multinational firm and the “new” multinationals from emerging economies. The Academy of Management Perspectives, 23 (2), 23-35.
Hymer, S. (1960). The international operations of national firms: A study of foreign direct investment. Cambridge, MA: MIT Press.
Hymer, S. (1968). La grande “corporation” multinationale: Analyse de certaines raisons qui poussent à l'intégration internationale des affaires. Revue économique, 14 (6), 949-973.
Johanson, J. and Vahlne, J. E. (1977). The internationalization process of the firm-a model of knowledge development and increasing foreign market commitments. Journal of International Business Studies, 8 (1), 23-32.
Johanson, J. and Vahlne, J. E. (2009). The Uppsala internationalization process model revisited: From liability of foreignness to liability of outsidership. Journal of International Business Studies, 40, 1411-1431.
Kiss, A. N.; Danis, W. M. and Cavusgil, S. T. (2012). International entrepreneurship research in emerging economies: A critical review and research agenda. Journal of Business Venturing, 12 (3), 213-225.
Kotabe, M., Teegen, H., Aulakh, P., Coutinho de Arruda, M., Santillan, R. and Greene, W (2000). Strategic alliances in emerging Latin America: A view from Brazilian, Chilean, and Mexican Companies. Journal of World Business, 35, 114-132.
Kumar, K. and Kim, K. Y. (1984). The Korean manufacturing multinationals. Journal of International Business Studies, 15 (1), 45-61.
Kunhardt, J. B. and Gutiérrez-Haces, M. T. (2013). Updated features of large Mexican Multinationals, 2012. Vale Columbia Center on sustainable investment. Available online at: http://www.vcc.columbia.edu/files/vale/documents/EMGP_-_Mexico_Report_-_December_2013_-_FINAL_1.pdf
Lessard, D. R. and Lucea, R. (2009). Mexican multinationals: Insights from CEMEX. In: Emerging multinationals in emerging markets (pp. 280-312). Cambridge University Press: Cambridge.
Lopez, L. E., Kundu, S. K., and Ciravegna, L. (2009). Born global or born regional? Evidence from an exploratory study in the Costa Rican software industry. Journal of International Business Studies, 40 (7), 1228-1238.
Losada-Otálora, M., and Casanova, L. (2014). Internationalization of emerging multinationals: The Latin American case. European Business Review, 26 (6), 588 -602.
Luo, Y., and Tung, R. L. (2007). International expansion of emerging market enterprises: A springboard perspective. Journal of International Business Studies, 38 (4), 481-498.
Matthews, J. A. (2006). Dragon multinationals: New players in the 21st century globalization. Asia Pacific Journal of Management, 23, 5-27.
Miles, M. B., and Huberman, A. M. (1994). Qualitative Data Analysis. 2nd edn. Thousand Oaks: Sage Publications.
Narula, R. (2012). Do we need different frameworks to explain infant MNEs from developing countries? Global Strategy Journal, 2 (3), 188-204.
Oliveira, M. M. and Borini, F. M. (2012). The role of subsidiaries from emerging economies: a survey involving the largest Brazilian multinationals. Thunderbird International Business Review, 54 (3), 361-371.
Pangakar, N. (1998). The Asian multinational corporation: Strategies, performance and key challenges. Asia Pacific Journal of Management, 15, 109-118.
Pla-Barber, J.; Camps, J., and Madhok, A. (2011) Springboard country and springboard subsidiary: a new perspective in the internationalization of European Multinationals in Latin America. Journal of Economic Geography, 12 (2), 519-538.
Ramamurti, R. (2009). What have we learned about emerging-market MNEs? In Emerging Multinationals in Emerging Markets (pp. 399-426). Cambridge University Press: Cambridge, U.K..
Ramamurti, R. (2012). What is really different about emerging market multinationals? Global Strategy Journal, 2, 41-47.
Ramamurti, R. and Singh, J. V. (2009). Emerging multinationals in emerging markets. Cambridge University Press: Cambridge, U. K.
Ramsey, J. R.; de Magalhães A. F.; Forteza, J. H. and Junior, J. F. (2010). International value creation: An alternative model for Latin American Multinationals. GCG: Revista de Globalización, Competitividad and Gobernabilidad, 4 (3), 62-83.
Ramstetter, E. (1999). Comparison of foreign multinationals and local firms in Asian manufacturing over time. Asian Economic Journal, 13 (2), 163-203.
Rugman, A. (2009). Theoretical aspects of MNEs from emerging economies. In: Emerging multinationals in emerging markets (pp. 3-22). Cambridge University Press: Cambridge, U. K.
Rugman, A. M., and Verbeke, A. (2004). A perspective on regional and global strategies of multinational enterprises. Journal of International Business Studies, 35 (1), 3-18.
Santiso, J. (2014). El auge de las multilatinas ¿Una oportunidad para España? Harvard Deusto Business Review, 240, 20-30.
Sargent, J. and Ghaddar, S. (2001). International success of business groups as an indicator of national competitiveness: The Mexican case. Latin American Business Review, 2 (3-4), 97-121.
Silva, J. F.; Rocha, A., and Carneiro, J. (2009). The international expansion of firms from emerging markets: Toward a typology of Brazilian MNEs. Latin American Business Review, 10 (2-3), 95-115.
Sol, P. and Kogan, J. (2007). Regional competitive advantage based on pioneering economic reforms: The case of Chilean FDI. Journal of International Business Studies, 38, 901-927.
Tan, D. and Meyer, K. E. (2010). Business groups’ outward FDI: A managerial resources perspective. Journal of International Management, 16 (2), 154-164.
Vargas-Hernández, J.G.. and Reza Noruzi, M. (2010). An exploration of the status of emerging multinational enterprises in Mexico. International Business and Management, 1 (1), 28-29.
Williamson, P., and Zeng, M. (2009). Chinese multinationals: emerging through new global gateways. In: Emerging Multinationals in Emerging Markets. Cambridge University Press: Cambridge, U.K.
Yeung, H. W. (2000). The globalization of business firms from emerging economies. Edward Elgar: Cheltenham, UK.
Amann, E. (2009). Technology, public policy and the emergence of Brazilian multinationals. In Brazil as economic superpower? Understanding Brazil’s changing role in the global economy. The Brookings Institution: Washington. 187-203.
AmericaEconomia. (2015). Ranking Multilatinas 2015. AmericaEconomia. Retrieved on April 15th 2016 from http://rankings.americaeconomia.com/multilatinas-2015/
Arbix, G. and Caseiro, L. (2011). Destination and strategy of Brazilian multinationals. Economics, Management and Financial Markets, 6(1), 207-238.
Aybar, B. and Ficici, A. (2009). Cross-Border acquisitions and firm value: An analysis of emerging-market multinationals. Journal of International Business Studies, 40, 1317-1338.
Banco de la República de Colombia. (2015). Flujos de inversión directa. Retrieved on December 11th From: http://www.banrep.gov.co/seriesestadisticas/ see_s_externo.htm#flujos
Bandeira-de-Mello, R.; Arreola, M.F. and Marcon, R. (2012). The importance of nurturing political connections for emerging multinationals: Evidence from Brazil. International Business and Management, 28, 155-171.
Bandeira-de-Mello, R.; Fleury, M.T.L; Aveline, C.E.S. and Gama, M.A.B. (2016). Unpacking the ambidexterity implementation process in the internationalization of emerging market multinationals. Journal of Business Research, 16(6), 2005-2017.
Barkema, H. G., Bell, H. J. H., and Pennings, J. M. (1996). Foreign entry, cultural barriers, and learning. Strategic Management Journal, 17 (2), 151-166.
Bianchi, C. (2014). Internationalisation of emerging market firms: an exploratory study of Chilean companies. International Journal of Emerging Markets, 9 (1), 54-78.
Borini, F. M. and Fleury, M.T.L (2011). Development of non-local competence in foreign subsidiaries of Brazilian multinationals. European Business Review, 23 (1), 106-119.
Borini, F. M.; Fleury, M.T.L. Leme and Fleury, A. (2009). Corporate competence in subsidiaries of Brazilian multinationals. Latin American Business Review, 10 (2-3), 161-185.
Buckley, P., and Casson, M. (2009). The internalisation theory of the multinational enterprise. A review of the progress of a research agenda after 30 years. Journal of International Business Studies, 40 (9), 1563-1580.
Buckley, P. J. and Mirza, H. (1988). The strategy of Pacific Asian multinationals. The Pacific review, 1 (1), 50-62.
Casanova, L. (2009). Global Latinas: Latin America’s Emerging Multinationals. Palgrave McMillan: New York.
Cantwell, J., Dunning, J. H., and Lundan, S. M. (2010). An evolutionary approach to understanding international business activity : The co-evolution of MNEs and the institutional environment. Journal of International Business Studies, 41 (4), 567-586.
Castro Olaya, J.; Castro Olaya, J., and Jaller, I. (2012). Internationalization patterns of multilatinas. Ad-minister, 21, 33-54.
Chen, H., and Chen, T. J. (1998). Networks linkage and location choices in foreign direct investment. Journal of International Business Studies, 29 (3), 445-468.
Chunovsky, D., and López, A. (2000). A third wave of FDI from developing countries: Latin American TNSs in the 1990s. Transnational Corporations, 9 (2), 31-74.
Ciravegna, L.; Fitzgerald, R., and Kundu, S. (2013). Operating in emerging markets. Financial Times (FT) Press, Pearson, New York, USA.
Collinson, S., and Rugman, Alan M. (2007). The regional character of Asian multinational enterprises. Asia Pacific Journal of Management, 24, 429-446.
Cuervo-Cazurra, A. (2007). Sequence of value-added activities in the multinationalization of developing country firms. Journal of International Management, 13(3), 803-822.
Cuervo-Cazurra, A. (2008). The internationalization of developing country MNEs: The case of Multilatinas. Journal of International Management, 14 (2), 138-154.
Cuervo-Cazurra, A. (2010). Multilatinas. Universia Business Review, 25, 14-33.
Cuervo-Cazurra, A. (2011). Selecting the country in which to start internationalization: The non-sequential internationalization model. Journal of World Business, 46, 426-437.
Cuervo-Cazurra, A. (2012). Extending theory by analyzing developing country multinational companies: Solving the goldilocks debate. Global Strategy Journal, 2, 153-167.
Cuervo-Cazurra, A., and Genc, M. (2008). The multinalization of developing country MNES: The case of multilatinas. Journal of International Business Studies, 39, 957-979.
Dakessian, L.C., and Feldman, P.R. (2013). Multilatinas and value creation from cross-border acquisition: An event study approach. BAR-Brazilian Administration Review, 10 (4), 462-489.
DANE. (2015). Comercio Exterior. Retrieved on December 11th from http://www.dane.gov.co/index.php?option=com_contentandview=articleandid=48andItemid=56
Dunning J. H., Kim C., and Park D. (2008). Old wine in new bottles: a comparison of emerging-market TNCs today and developed-country TNCs thirty years ago. In: The Rise of Transnational Corporations from Emerging Markets: Threat or Opportunity? Edward Elgar: Northampton, MA.
Dunning, J. H. (1977). Trade, location and economic activity and the MNE: A search for an eclectic approach. In The International Allocation of Economic Activity. Macmillan: London.
Dunning, J. H. (1980). Explaining changing patterns of international production: In defense of the eclectic theory. Oxford Bulletin of Economics and Statistics, 41 (4), 269-295.
Dunning, J. H. and Narula, R. (2004). Relational assets: the new competitive advantage of MNEs and countries. Multinationals and Industrial Competitiveness: A New Agenda. Edward Elgar: Cheltenham and Northampton.
Economist (2014, August 2nd). Passing the baton. Available online at: http://www.economist.com/news/finance-and-economics/21610305-colombia-overtakes-peru-become-regions-fastest-growing-big-economy-passing
Eisenhardt, K. M. (1989). Building theory from case study research. The Academy of Management Review, 14 (4), 532-550.
Fleury, A. and Fleury, M.T.L (2009). Brazilian multinationals: surfing the waves of internationalisation. In: Emerging multinationals in emerging markets (pp. 200-243). Cambridge University Press: Cambridge.
Fleury, A. and Fleury, M.T.L. (2011). Brazilian multinationals: Competences for Internationalization. Cambridge University Press: Cambridge.
Fleury, A.; Fleury, M.T.L., and Reis, G. G. (2010). The path is made by walking: The trajectory of Brazilian multinationals. Universia Business Review, 25, 34-55.
Gammeltoft, P.; Pradhan, J. P., and Goldstein, A. (2010). Emerging multinationals: home and host country determinants and outcomes. International Journal of Emerging Markets, 5 (3), 254-265.
Goldstein, A. (2009). Multinational companies from emerging economies composition, conceptualization and direction in the global economy. Indian Journal of Industrial Relations, 45 (1), 137-147.
Gonzalez-Perez, M. A., and Velez-Ocampo, J. F. (2014). Targeting one’s own region: Internationalisation trends of Colombian multinational companies. European Business Review, 26 (6), 531-551.
Guillén, M. F., and García-Canal, E. (2009). The American model of the multinational firm and the “new” multinationals from emerging economies. The Academy of Management Perspectives, 23 (2), 23-35.
Hymer, S. (1960). The international operations of national firms: A study of foreign direct investment. Cambridge, MA: MIT Press.
Hymer, S. (1968). La grande “corporation” multinationale: Analyse de certaines raisons qui poussent à l'intégration internationale des affaires. Revue économique, 14 (6), 949-973.
Johanson, J. and Vahlne, J. E. (1977). The internationalization process of the firm-a model of knowledge development and increasing foreign market commitments. Journal of International Business Studies, 8 (1), 23-32.
Johanson, J. and Vahlne, J. E. (2009). The Uppsala internationalization process model revisited: From liability of foreignness to liability of outsidership. Journal of International Business Studies, 40, 1411-1431.
Kiss, A. N.; Danis, W. M. and Cavusgil, S. T. (2012). International entrepreneurship research in emerging economies: A critical review and research agenda. Journal of Business Venturing, 12 (3), 213-225.
Kotabe, M., Teegen, H., Aulakh, P., Coutinho de Arruda, M., Santillan, R. and Greene, W (2000). Strategic alliances in emerging Latin America: A view from Brazilian, Chilean, and Mexican Companies. Journal of World Business, 35, 114-132.
Kumar, K. and Kim, K. Y. (1984). The Korean manufacturing multinationals. Journal of International Business Studies, 15 (1), 45-61.
Kunhardt, J. B. and Gutiérrez-Haces, M. T. (2013). Updated features of large Mexican Multinationals, 2012. Vale Columbia Center on sustainable investment. Available online at: http://www.vcc.columbia.edu/files/vale/documents/EMGP_-_Mexico_Report_-_December_2013_-_FINAL_1.pdf
Lessard, D. R. and Lucea, R. (2009). Mexican multinationals: Insights from CEMEX. In: Emerging multinationals in emerging markets (pp. 280-312). Cambridge University Press: Cambridge.
Lopez, L. E., Kundu, S. K., and Ciravegna, L. (2009). Born global or born regional? Evidence from an exploratory study in the Costa Rican software industry. Journal of International Business Studies, 40 (7), 1228-1238.
Losada-Otálora, M., and Casanova, L. (2014). Internationalization of emerging multinationals: The Latin American case. European Business Review, 26 (6), 588 -602.
Luo, Y., and Tung, R. L. (2007). International expansion of emerging market enterprises: A springboard perspective. Journal of International Business Studies, 38 (4), 481-498.
Matthews, J. A. (2006). Dragon multinationals: New players in the 21st century globalization. Asia Pacific Journal of Management, 23, 5-27.
Miles, M. B., and Huberman, A. M. (1994). Qualitative Data Analysis. 2nd edn. Thousand Oaks: Sage Publications.
Narula, R. (2012). Do we need different frameworks to explain infant MNEs from developing countries? Global Strategy Journal, 2 (3), 188-204.
Oliveira, M. M. and Borini, F. M. (2012). The role of subsidiaries from emerging economies: a survey involving the largest Brazilian multinationals. Thunderbird International Business Review, 54 (3), 361-371.
Pangakar, N. (1998). The Asian multinational corporation: Strategies, performance and key challenges. Asia Pacific Journal of Management, 15, 109-118.
Pla-Barber, J.; Camps, J., and Madhok, A. (2011) Springboard country and springboard subsidiary: a new perspective in the internationalization of European Multinationals in Latin America. Journal of Economic Geography, 12 (2), 519-538.
Ramamurti, R. (2009). What have we learned about emerging-market MNEs? In Emerging Multinationals in Emerging Markets (pp. 399-426). Cambridge University Press: Cambridge, U.K..
Ramamurti, R. (2012). What is really different about emerging market multinationals? Global Strategy Journal, 2, 41-47.
Ramamurti, R. and Singh, J. V. (2009). Emerging multinationals in emerging markets. Cambridge University Press: Cambridge, U. K.
Ramsey, J. R.; de Magalhães A. F.; Forteza, J. H. and Junior, J. F. (2010). International value creation: An alternative model for Latin American Multinationals. GCG: Revista de Globalización, Competitividad and Gobernabilidad, 4 (3), 62-83.
Ramstetter, E. (1999). Comparison of foreign multinationals and local firms in Asian manufacturing over time. Asian Economic Journal, 13 (2), 163-203.
Rugman, A. (2009). Theoretical aspects of MNEs from emerging economies. In: Emerging multinationals in emerging markets (pp. 3-22). Cambridge University Press: Cambridge, U. K.
Rugman, A. M., and Verbeke, A. (2004). A perspective on regional and global strategies of multinational enterprises. Journal of International Business Studies, 35 (1), 3-18.
Santiso, J. (2014). El auge de las multilatinas ¿Una oportunidad para España? Harvard Deusto Business Review, 240, 20-30.
Sargent, J. and Ghaddar, S. (2001). International success of business groups as an indicator of national competitiveness: The Mexican case. Latin American Business Review, 2 (3-4), 97-121.
Silva, J. F.; Rocha, A., and Carneiro, J. (2009). The international expansion of firms from emerging markets: Toward a typology of Brazilian MNEs. Latin American Business Review, 10 (2-3), 95-115.
Sol, P. and Kogan, J. (2007). Regional competitive advantage based on pioneering economic reforms: The case of Chilean FDI. Journal of International Business Studies, 38, 901-927.
Tan, D. and Meyer, K. E. (2010). Business groups’ outward FDI: A managerial resources perspective. Journal of International Management, 16 (2), 154-164.
Vargas-Hernández, J.G.. and Reza Noruzi, M. (2010). An exploration of the status of emerging multinational enterprises in Mexico. International Business and Management, 1 (1), 28-29.
Williamson, P., and Zeng, M. (2009). Chinese multinationals: emerging through new global gateways. In: Emerging Multinationals in Emerging Markets. Cambridge University Press: Cambridge, U.K.
Yeung, H. W. (2000). The globalization of business firms from emerging economies. Edward Elgar: Cheltenham, UK.
Cómo citar
Veléz-Ocampo, J., & Gonzalez-Perez, M. A. (2016). Expansión internacional de empresas colombianas: entendiendo su “surgimiento” en los mercados extranjeros. Cuadernos De Administración, 28(51), 189–215. https://doi.org/10.11144/Javeriana.cao28-51.iecf
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