Explaining emerging-market firms’ acquisitions of developed-market firms: A resource based perspective

The recent rise of emerging-market companies’ (EMCs) acquisitions of developed-market companies (DMCs) has triggered a debate on the appropriateness of the traditional internationalization paradigm (i.e., OLI framework or internalization theory) in explaining these contemporary developments. We seek to help reconcile the views, by suggesting that assumptions of the existing paradigm must be adapted for the new phenomenon as the latter exhibits...