In recent years, there has been a fundamental shift in the innovation architecture of global firms. Rapid growth of the middle class in emerging markets, led by China, India, Brazil and Russia, is fueling the need to create affordable innovations in local markets. Such local innovations tend to...

Examines the formation process of international new ventures (INVs)--i.e., firms that are international from the time of their formation. It is discovered that none of the existing theories from the field of international business explain the formation process because they focus on firm-level...