{"title":"The influence of institutional void and socio-cultural factors on the internationalization of emerging multinationals","authors":"Nouhaila Ettalibi , Murugesh Arunachalam , Thao Nguyen , Kashif ur Rehman","doi":"10.1016/j.ribaf.2024.102605","DOIUrl":null,"url":null,"abstract":"<div><div>The process of firm internationalization involves critical decisions regarding location, entry mode, investment levels, and the management of foreign operations. This paper examines the effects of institutional voids and socio-cultural factors on the internationalization of Emerging Multinationals (EMNCs) from the BRICS and MENA regions. We draw on institutional and internationalization theories to explain how socio-cultural factors influence the internationalization of EMNCs. Using the two-step system GMM over a ten-year period (2012–2021), we find that institutional voids, religious diversity, power distance, and a firm’s ESG practices at home positively impact internationalization. These findings contribute to the literature by quantifying key variables related to internationalization, cultural diversity, institutional voids, power distance, and ESG engagement.</div></div>","PeriodicalId":51430,"journal":{"name":"Research in International Business and Finance","volume":"73 ","pages":"Article 102605"},"PeriodicalIF":6.3000,"publicationDate":"2024-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Research in International Business and Finance","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0275531924003982","RegionNum":2,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
引用次数: 0
Abstract
The process of firm internationalization involves critical decisions regarding location, entry mode, investment levels, and the management of foreign operations. This paper examines the effects of institutional voids and socio-cultural factors on the internationalization of Emerging Multinationals (EMNCs) from the BRICS and MENA regions. We draw on institutional and internationalization theories to explain how socio-cultural factors influence the internationalization of EMNCs. Using the two-step system GMM over a ten-year period (2012–2021), we find that institutional voids, religious diversity, power distance, and a firm’s ESG practices at home positively impact internationalization. These findings contribute to the literature by quantifying key variables related to internationalization, cultural diversity, institutional voids, power distance, and ESG engagement.
期刊介绍：
Research in International Business and Finance (RIBAF) seeks to consolidate its position as a premier scholarly vehicle of academic finance. The Journal publishes high quality, insightful, well-written papers that explore current and new issues in international finance. Papers that foster dialogue, innovation, and intellectual risk-taking in financial studies; as well as shed light on the interaction between finance and broader societal concerns are particularly appreciated. The Journal welcomes submissions that seek to expand the boundaries of academic finance and otherwise challenge the discipline. Papers studying finance using a variety of methodologies; as well as interdisciplinary studies will be considered for publication. Papers that examine topical issues using extensive international data sets are welcome. Single-country studies can also be considered for publication provided that they develop novel methodological and theoretical approaches or fall within the Journal''s priority themes. It is especially important that single-country studies communicate to the reader why the particular chosen country is especially relevant to the issue being investigated. [...] The scope of topics that are most interesting to RIBAF readers include the following: -Financial markets and institutions -Financial practices and sustainability -The impact of national culture on finance -The impact of formal and informal institutions on finance -Privatizations, public financing, and nonprofit issues in finance -Interdisciplinary financial studies -Finance and international development -International financial crises and regulation -Financialization studies -International financial integration and architecture -Behavioral aspects in finance -Consumer finance -Methodologies and conceptualization issues related to finance
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