The paper analyzes the internationalization process of service firms. The analysis of the internationalization of Banco Santander illustrates three arguments. First, the idea that the distance between home and host country determines the selection of countries where to invest varies with the...

We extend the literature on the difficulties of internationalization by discussing their types and specific consequences associated with each type. The types of difficulties can be separated into three main groups based on their cause and specificity: the inabilities to transfer advantage and to...

We study the causes of the difficulties faced by firms when they internationalize in search of new markets. We build on the resource-based theory to argue that the difficulties in internationalization can be separated into three main sets based on their relationship to advantage: loss of an...

This paper studies the sequence of value-added activities in the multinationalization of firms from developing countries. Analysis of twenty Latin American multinational firms, or Multilatinas, reveals three alternative sequences: start multinationalizing with marketing subsidiaries in all...

I study the multinationalization - the decision to establish foreign direct investment (FDI) - of developing country firms, in particular Latin American ones or Multilatinas. Despite a long exporting tradition, many firms in Latin American have only recently become multinational enterprises...

We briefly review the evolution in the analysis of the boundaries of the firm in global strategy. We explain how initial studies that argued that firm boundaries were driven by the minimization of transaction costs were later complemented by analyses that proposed that firm boundaries were...

We study how the country of origin of a firm influences its internationalization, analyzing emerging economy multinational companies (EMNCs) as a laboratory for extending theory. EMNCs have been observed to vary from advanced economy MNCs (AMNCs), suggesting that the home context is the critical...

We analyze how a firm's home country influences its internationalization. We propose two complementary types of influence. First, we conceptualize a firm's international trade as shaped by four drivers: comparative advantage, comparative disadvantage, country-of-origin advantage, and...

We analyze the impact of internationalization on firm performance in emerging economies, proposing that this relationship varies with home country uncertainty. Specifically, building on organizational learning theory and the institution-based view, we argue, first, that in emerging markets...