IDEAS home Printed from https://ideas.repec.org/a/taf/oxdevs/v36y2008i1p111-131.html
   My bibliography  Save this article

The Internationalization of Firms From India: Investment, Mergers and Acquisitions

Author

Listed:
  • Deepak Nayyar

Abstract

This paper analyses the rapid expansion in outflows of foreign direct investment from India and the spurt in foreign acquisitions by Indian firms, during the past decade, situated in the wider context of international investment from developing countries. Much of the investment was in manufacturing activities and most of the acquisitions were in industrialized countries. The economic stimulus and the strategic motive for the internationalization of firms from India were provided by a range of underlying factors driving the process, which differed across sectors and firms. The rapid growth in investment and acquisitions by Indian firms were partly attributable to factors implicit in the liberalization of the policy regime and the greater access to financial markets; but it must be recognized that Indian firms could not have become international without the capacity and the ability to compete in the world market. The attributes of Indian firms, which created such capacities and abilities, are embedded in the past and have emerged over a much longer period of time.

Suggested Citation

  • Deepak Nayyar, 2008. "The Internationalization of Firms From India: Investment, Mergers and Acquisitions," Oxford Development Studies, Taylor & Francis Journals, vol. 36(1), pages 111-131.
    • Handle: RePEc:taf:oxdevs:v:36:y:2008:i:1:p:111-131
    DOI: 10.1080/13600810701848219
    as

    Download full text from publisher

    File URL: http://www.tandfonline.com/doi/abs/10.1080/13600810701848219
    Download Restriction: Access to full text is restricted to subscribers.
    File URL: https://libkey.io/10.1080/13600810701848219?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Kumar, Nagesh, 1995. "Changing Character of Foreign Direct Investment from Developing Countries: Case Studies from Asia," UNU-INTECH Discussion Paper Series 1995-16, United Nations University - INTECH.
    2. Sanjaya Lall, 1982. "Developing Countries as Exporters of Technology," Palgrave Macmillan Books, Palgrave Macmillan, number 978-1-349-05435-0, December.
    3. Louis T. Wells, 1983. "Third World Multinationals: The Rise of Foreign Investments from Developing Countries," MIT Press Books, The MIT Press, edition 1, volume 1, number 026273169x, December.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Prema-chandra Athukorala & C. Veeramani, 2017. "Internationalization of Indian Enterprises: Patterns, Determinants, and Policy Issues," Asian Economic Papers, MIT Press, vol. 16(1), pages 142-166, Winter/Sp.
    2. Kumar, Nagesh, 1995. "Industrialization, Liberalization and Two Way Flows of Foreign Direct Investment: The Case of India," UNU-INTECH Discussion Paper Series 1995-04, United Nations University - INTECH.
    3. Sosa Andrés, Maximiliano & Nunnenkamp, Peter & Busse, Matthias, 2013. "What drives FDI from non-traditional sources? A comparative analysis of the determinants of bilateral FDI flows," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 7, pages 1-53.
    4. Yi-Min Chen, 2008. "How Much Does Country Matter?," International Regional Science Review, , vol. 31(4), pages 404-435, October.
    5. Malik, Omar R., 2008. "Adapting to market liberalization: The role of dynamic capabilities, initial resource conditions, and strategic path choices in determining evolutionary fitness of Less Developed Country (LDC) firms," Journal of International Management, Elsevier, vol. 14(3), pages 217-231, September.
    6. Buckley, Peter J. & Munjal, Surender & Enderwick, Peter & Forsans, Nicolas, 2016. "Cross-border acquisitions by Indian multinationals: Asset exploitation or asset augmentation?," International Business Review, Elsevier, vol. 25(4), pages 986-996.
    7. Changsu Kim & Donghyun Park, 2015. "Emerging Asian MNCs," Asia Pacific Business Review, Taylor & Francis Journals, vol. 21(4), pages 457-463, October.
    8. Oludotun Fasanya, David & Ingham, Hilary & Read, Robert, 2022. "Determinants of internationalisation by firms from Sub-Saharan Africa," Journal of Business Research, Elsevier, vol. 144(C), pages 951-965.
    9. Alan Hughes & Ajit Singh, 1988. "The World Economic Slowdown and the Asian and Latin American Economies: A Comparative Analysis of Economic Structure, Policy and Performance," WIDER Working Paper Series wp-1988-042, World Institute for Development Economic Research (UNU-WIDER).
    10. Calestous Juma, 1985. "Market Restructuring and Technology Acquisition: Power Alcohol in Kenya and Zimbabwe," Development and Change, International Institute of Social Studies, vol. 16(1), pages 39-59, January.
    11. Kumar, Nagesh, 1995. "Changing Character of Foreign Direct Investment from Developing Countries: Case Studies from Asia," UNU-INTECH Discussion Paper Series 1995-16, United Nations University - INTECH.
    12. Mike Hobday, 1994. "Export‐led Technology Development in the Four Dragons: The Case of Electronics," Development and Change, International Institute of Social Studies, vol. 25(2), pages 333-361, April.
    13. Densil A. Williams, 2009. "Determinants of Outward Foreign Direct Investments from Small Island Developing States," American Journal of Economics and Business Administration, Science Publications, vol. 1(2), pages 47-56, June.
    14. Subhasis Bera & Shikha Gupta, "undated". "South-South FDI vs North-South FDI: A Comparative Analysis in the Context of India," Indian Council for Research on International Economic Relations, New Delhi Working Papers 238, Indian Council for Research on International Economic Relations, New Delhi, India.
    15. Jan Knoerich, 2017. "How does outward foreign direct investment contribute to economic development in less advanced home countries?," Oxford Development Studies, Taylor & Francis Journals, vol. 45(4), pages 443-459, October.
    16. Yadong Luo & Rosalie L Tung, 2018. "A general theory of springboard MNEs," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 49(2), pages 129-152, February.
    17. Jacques Jaussaud & Serge Rey, 2012. "FDI to Japan and Trade Flows: A Comparison of BRICs, Asian Tigers and Developed Countries," Working papers of CATT hal-01880347, HAL.
    18. Michael McDermott & Chun Hua Huang, 1996. "Industrial State-owned Multinationals from China: The Embryonic Years, 1985--92," Asia Pacific Business Review, Taylor & Francis Journals, vol. 3(1), pages 1-15, September.
    19. Peter J. Buckley & Adam R. Cross & Hui Tan & Liu Xin & Hinrich Voss, 2008. "Historic and Emergent Trends in Chinese Outward Direct Investment," Management International Review, Springer, vol. 48(6), pages 715-748, December.
    20. Deolalikar AB. & Sundaram, A. K., 1985. "Technology choice, adaptation, and diffusion in privately and state-owned enterprises in India," ILO Working Papers 992435323402676, International Labour Organization.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:taf:oxdevs:v:36:y:2008:i:1:p:111-131. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Chris Longhurst (email available below). General contact details of provider: http://www.tandfonline.com/CODS20 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.