The Effect of Institutional Evolution on Indian Firms' Internationalization: Disentangling Inward- and Outward-Oriented Effects

We draw upon the institutional theoretical perspective to study Indian firms' internationalization during periods of institutional change. We focus on firms establishing a subsidiary abroad. We delve into the nature of institutional change and propose two categories of institutional change that have impacts of different magnitudes on international investments. We also investigate the case of firms affiliated with domestic business groups. We...