IDEAS home Printed from https://ideas.repec.org/p/hal/journl/halshs-01287431.html
   My bibliography  Save this paper

Maturing Strategies Of Russian Multinational Companies: Comparisons With Chinese Multinationals

Author

Listed:
  • Wladimir Andreff

    (CES - Centre d'économie de la Sorbonne - UP1 - Université Paris 1 Panthéon-Sorbonne - CNRS - Centre National de la Recherche Scientifique)

Abstract

The present chapter first reminds in which circumstances Russian companies grew multinational and then started booming, and how they were muddling through the financial crisis that burst out in 2008; in this respect, they do not compare too bad with MNCs from other transition countries. The geographical and industrial specificities of their expansion abroad are pointed out as well as the major determinants of their outward foreign direst investment (OFDI). In the past decade, their strategies have evolved from total opacity to more transparency and, in some cases have matured enough to get closer to genuine global strategies while their relationships with the Russian government have strengthened. Thus Russian MNCs make up for major pillars of state capitalism in Russia. A comparative assessment with Chinese MNCs shows deeper similarities than differences in spite of the first mover advantage that has benefited to OFDI from China over OFDI from other transition economies, of which Russia.

Suggested Citation

  • Wladimir Andreff, 2015. "Maturing Strategies Of Russian Multinational Companies: Comparisons With Chinese Multinationals," Post-Print halshs-01287431, HAL.
    • Handle: RePEc:hal:journl:halshs-01287431
    DOI: 10.1142/9789813140295_0005
    Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-01287431
    as

    Download full text from publisher

    File URL: https://shs.hal.science/halshs-01287431/document
    Download Restriction: no
    File URL: https://libkey.io/10.1142/9789813140295_0005?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
    ---><---

    References listed on IDEAS

    as
    1. Huaichuan Rui & George S. Yip & Shameen Prashantham, 2010. "How Different Are Chinese Foreign Acquisitions? Adding an Indian Comparison," Palgrave Macmillan Books, in: Karl P. Sauvant & Geraldine McAllister & Wolfgang A. Maschek (ed.), Foreign Direct Investments from Emerging Markets, chapter 0, pages 173-195, Palgrave Macmillan.
    2. Randall Morck & Bernard Yeung & Minyuan Zhao, 2008. "Perspectives on China's outward foreign direct investment," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 39(3), pages 337-350, April.
    3. Wladimir Andreff, 2013. "La mondialisation, stade suprême du capitalisme ? En hommage à Charles-Albert Michalet," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00794033, HAL.
    4. Deng, Ping, 2007. "Investing for strategic resources and its rationale: The case of outward FDI from Chinese companies," Business Horizons, Elsevier, vol. 50(1), pages 71-81.
    5. Wladimir Andreff & Giovanni Balcet, 2013. "Emerging countries’ multinational companies investing in developed countries: at odds with the HOS paradigm?," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 10(1), pages 3-26, April.
    6. Wladimir Andreff, 2007. "Economie de la transition : La transformation des économies centralement planifiées en économies de marché," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00270037, HAL.
    7. Carlos Rodríguez & Ricardo Bustillo, 2011. "A Critical Revision of the Empirical Literature on Chinese Outward Investment: A New Proposal," Panoeconomicus, Savez ekonomista Vojvodine, Novi Sad, Serbia, vol. 58(5), pages 715-733, December.
    8. Kálmán Kalotay, 2004. "Outward FDI from Central and Eastern European Countries," Economic Change and Restructuring, Springer, vol. 37(2), pages 141-172, June.
    9. K. C. Fung & Alicia Garcia-Herrero, 2012. "Foreign Direct Investment Outflows From China And India," China Economic Policy Review (CEPR), World Scientific Publishing Co. Pte. Ltd., vol. 1(01), pages 1-15.
    10. Song-Hua Hu & Hai-Yan Ma & Guang-Tao Zen, 2012. "The Influence of Host-Country¡¯s Enviroments on the FDI Entry Mode Choice of Chinese Companies," Business and Management Research, Business and Management Research, Sciedu Press, vol. 1(2), pages 39-47, June.
    11. Peter Rutland, 2008. "Putin's Economic Record: Is the Oil Boom Sustainable?," Europe-Asia Studies, Taylor & Francis Journals, vol. 60(6), pages 1051-1072.
    12. Wladimir Andreff, 2013. "Emerging countries' multinational companies investing in developed countries: at odds with the HOS paradigm?," Post-Print halshs-00874480, HAL.
    13. Yadong Luo & Rosalie L Tung, 2007. "International expansion of emerging market enterprises: A springboard perspective," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 38(4), pages 481-498, July.
    14. Shujie Yao & Dylan Sutherland & Jian Chen, 2010. "China's Outward FDI and Resource-Seeking Strategy: A Case Study on Chinalco and Rio Tinto," Asia-Pacific Journal of Accounting & Economics, Taylor & Francis Journals, vol. 17(3), pages 313-325.
    15. Wladimir Andreff, 2013. "La mondialisation, stade suprême du capitalisme ? En hommage à Charles-Albert Michalet," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-00854055, HAL.
    16. Wladimir Andreff, 2003. "The newly emerging TNCs from economies in transition: a comparison with Third World outward FDI," Post-Print halshs-00274654, HAL.
    17. Wladimir Andreff, 2003. "Las empresas multinacionales rusas : Inversion directa de Rusia en el exterior," Post-Print halshs-00274956, HAL.
    18. Jan Johanson & Jan-Erik Vahlne, 1977. "The Internationalization Process of the Firm—A Model of Knowledge Development and Increasing Foreign Market Commitments," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 8(1), pages 23-32, March.
    19. Stefan Hedlund, 2001. "Property Without Rights: Dimensions of Russian Privatisation," Europe-Asia Studies, Taylor & Francis Journals, vol. 53(2), pages 213-237.
    20. Frye, Timothy & Shleifer, Andrei, 1997. "The Invisible Hand and the Grabbing Hand," American Economic Review, American Economic Association, vol. 87(2), pages 354-358, May.
    21. John Dunning, 1981. "Explaining the international direct investment position of countries: Towards a dynamic or developmental approach," Review of World Economics (Weltwirtschaftliches Archiv), Springer;Institut für Weltwirtschaft (Kiel Institute for the World Economy), vol. 117(1), pages 30-64, March.
    22. Wladimir Andreff, 2013. "Emerging countries' multinational companies investing in developed countries: at odds with the HOS paradigm?," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00874480, HAL.
    23. Wladimir Andreff, 2007. "Economie de la transition : La transformation des économies centralement planifiées en économies de marché," Post-Print halshs-00270037, HAL.
    24. Wladimir Andreff, 2009. "Outsourcing in the new strategy of multinational companies: Foreign direct investment, international subcontracting and production relocation," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-00443699, HAL.
    25. Wladimir Andreff, 2009. "Outsourcing in the new strategy of multinational companies: Foreign direct investment, international subcontracting and production relocation," Post-Print halshs-00443699, HAL.
    26. Wladimir Andreff, 2002. "The new multinational corporations from transition countries," Post-Print halshs-00274655, HAL.
    27. Andrei Shleifer & Daniel Treisman, 2005. "A Normal Country: Russia After Communism," Journal of Economic Perspectives, American Economic Association, vol. 19(1), pages 151-174, Winter.
    28. Andreff, Wladimir, 2002. "The new multinational corporations from transition countries," Economic Systems, Elsevier, vol. 26(4), pages 371-379, December.
    29. Wladimir Andreff, 2013. "La mondialisation, stade suprême du capitalisme ? En hommage à Charles-Albert Michalet," Post-Print halshs-00794033, HAL.
    30. Elina Pelto & Peeter Vahtra & Kari Liuhto, 2003. "Cyp‐Rus investment flows to central and Eastern Europe ‐ Russia's direct and indirect investments via Cyprus to Cee," Journal of Business Economics and Management, Taylor & Francis Journals, vol. 5(1), pages 3-13, November.
    31. Wladimir Andreff & Madeleine Andreff, 1997. "Foreign Direct Investment in Russia and CIS Countries: Employment and Attractiveness," Post-Print halshs-00274665, HAL.
    32. Kalotay, Kalman, 2008. "Russian transnationals and international investment paradigms," Research in International Business and Finance, Elsevier, vol. 22(2), pages 85-107, June.
    33. Christopher J. S. Gentle, 1996. "Europe in 2010," Palgrave Macmillan Books, in: After Liberalisation, chapter 7, pages 121-132, Palgrave Macmillan.
    34. Wladimir Andreff, 2005. "Russian Privatisation at Bay: Some Unresolved Transaction and Governance Cost Issues in Post-Soviet Economies," Post-Print halshs-00270372, HAL.
    35. Kalotay, Kalman & Sulstarova, Astrit, 2010. "Modelling Russian outward FDI," Journal of International Management, Elsevier, vol. 16(2), pages 131-142, June.
    36. Wladimir Andreff, 2013. "La mondialisation, stade suprême du capitalisme ? En hommage à Charles-Albert Michalet," Post-Print hal-00854055, HAL.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Wladimir Andreff & Madeleine Andreff, 2017. "Multinational companies from transition economies and their outward foreign direct investment," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) hal-03207032, HAL.
    2. Wladimir Andreff & Madeleine Andreff, 2017. "Multinational companies from transition economies and their outward foreign direct investment," Post-Print hal-03207032, HAL.
    3. Olga Yu. Gorodetskaya & Gulnara I. Alekseeva & Kira A. Artamonova & Natalia A. Sadovnikova & Svetlana G. Babich & Elvira N. Iamalova & Anatoliy M. Tarasov, 2021. "Investment Attractiveness of the Russian Energy Sector MNCs: Assessment and Challenges," International Journal of Energy Economics and Policy, Econjournals, vol. 11(2), pages 199-207.

    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. Wladimir Andreff, 2016. "Outward Foreign Direct Investment from BRIC countries: Comparing strategies of Brazilian, Russian, Indian and Chinese multinational companies," Post-Print halshs-01342391, HAL.
    2. Wladimir Andreff, 2016. "Outward Foreign Direct Investment from BRIC countries: Comparing strategies of Brazilian, Russian, Indian and Chinese multinational companies," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-01342391, HAL.
    3. Wladimir Andreff, 2015. "Outward Foreign Direct Investment from BRIC countries: Comparing strategies of Brazilian, Russian, Indian and Chinese multinational companies," European Journal of Comparative Economics, Cattaneo University (LIUC), vol. 12(2), pages 79-131, December.
    4. Andreff, Wladimir & Andreff, Madeleine, 2017. "Multinational companies from transition economies and their outward foreign direct investment," Russian Journal of Economics, Elsevier, vol. 3(4), pages 445-474.
    5. Alessia Amighini & Claudio Cozza & Elisa Giuliani & Roberta Rabellotti & Vittoria Scalera, 2015. "Multinational enterprises from emerging economies: what theories suggest, what evidence shows. A literature review," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 42(3), pages 343-370, September.
    6. Stoian, Carmen, 2013. "Extending Dunning's Investment Development Path: The role of home country institutional determinants in explaining outward foreign direct investment," International Business Review, Elsevier, vol. 22(3), pages 615-637.
    7. Damijan, Jože & Kostevc, Crt & Rojec, Matija, 2014. "Outward FDI and company performance in CEECs," Working Paper Series in Economics and Institutions of Innovation 381, Royal Institute of Technology, CESIS - Centre of Excellence for Science and Innovation Studies.
    8. Wladimir Andreff, 2014. "Outward foreign direct investment by Brazilian and Indian multinational companies: comparison with Russian-Chinese multinationals," Université Paris1 Panthéon-Sorbonne (Post-Print and Working Papers) halshs-01279896, HAL.
    9. Csaba Weiner, 2017. "International expansion of Russian multinationals - a focus on home-country push factors, Europe and five CEE countries," IWE Working Papers 236, Institute for World Economics - Centre for Economic and Regional Studies.
    10. Björn Jindra & Sohaib S. Hassan & Jutta Günther & Uwe Cantner, 2015. "European Integration and Outward FDI from Central and Eastern Europe – Is There Any Evidence of Knowledge-seeking?," Journal of Common Market Studies, Wiley Blackwell, vol. 53(6), pages 1248-1267, November.
    11. Wladimir Andreff, 2014. "Outward foreign direct investment by Brazilian and Indian multinational companies: comparison with Russian-Chinese multinationals," Post-Print halshs-01279896, HAL.
    12. Stoian, Carmen & Mohr, Alex, 2016. "Outward foreign direct investment from emerging economies: escaping home country regulative voids," International Business Review, Elsevier, vol. 25(5), pages 1124-1135.
    13. Nádia Campos Pereira Bruhn & Juciara Nunes de Alcântara & Dany Flávio Tonelli & Ricardo Pereira Reis & Luiz Marcelo Antonialli, 2016. "Why Firms Invest Abroad? A Bibliometric Study on OFDI Determinants from Developing Economies," Global Business Review, International Management Institute, vol. 17(2), pages 271-302, April.
    14. Barnard, Helena & Luiz, John M., 2018. "Escape FDI and the dynamics of a cumulative process of institutional misalignment and contestation: Stress, strain and failure," Journal of World Business, Elsevier, vol. 53(5), pages 605-619.
    15. Wladimir Andreff & Madeleine Andreff, 2017. "Multinational companies from transition economies and their outward foreign direct investment," Post-Print hal-03207032, HAL.
    16. Éltető, Andrea & Sass, Magdolna & Kalotay, Kálmán & Weiner, Csaba, 2015. "Orosz befektetések a visegrádi országokban. Az elméletek temetője? [Russian investment in the Visegrád countries - a cemetery for extant theories?]," Közgazdasági Szemle (Economic Review - monthly of the Hungarian Academy of Sciences), Közgazdasági Szemle Alapítvány (Economic Review Foundation), vol. 0(5), pages 565-586.
    17. Gnangnon, Sèna Kimm, 2018. "Effect of multilateral trade liberalization on foreign direct investment outflows amid structural economic vulnerability in developing countries," Research in International Business and Finance, Elsevier, vol. 45(C), pages 15-29.
    18. Ricard, Antonin & Shimizu, Katsuhiko & Vieu, Marion, 2021. "Deepening the timing dimension of emerging market multinational companies’ internationalization – An exploratory perspective," Journal of International Management, Elsevier, vol. 27(3).
    19. Kuznetsov, Alexey, 2010. "Urgent tasks for research on Russian TNCs," MPRA Paper 42702, University Library of Munich, Germany.
    20. Fu, Xiaolan & Hou, Jun & Liu, Xiaohui, 2018. "Unpacking the Relationship between Outward Direct Investment and Innovation Performance: Evidence from Chinese firms," World Development, Elsevier, vol. 102(C), pages 111-123.

    More about this item

    Keywords

    outward foreign direct investment; multinational companies; BRICs; Russia; China;
    All these keywords.

    NEP fields

    This paper has been announced in the following NEP Reports:

    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:hal:journl:halshs-01287431. 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: CCSD (email available below). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    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.