This article addresses the under-researched issue of how local firms in merging markets can counter the threat posed by the entry of multinational corporations (MNCs). Prior literature on this topic argues that the appropriate strategy for a local firm is dependent on its industry...

In this study, we explore the extent to which industry globalization affects the performance of firms in China, an emerging market. We focus on the period between 1996 and 2001 and track the globalization levels for six different Chinese industries as well as the performance of 166 public listed...