Institutional theory explains how interactions between organizations and institutions shape economic activity and consequently managerial performance and strategies. The institutional setting of most emerging countries is in transition, whereby a relationship-based transaction mode is gradually...

This article looks at the reasons for the rapid rise of emerging country multinationals (EMNCs) in the global competitive landscape, despite their ‘late mover' status. We identify two predominant factors in the rise of these companies: the influence of the institutional environment on the...