文献2.4_Internationalization paths of Indian pharmaceutical firms - A strategic group analysis

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1、JournalofInternationalManagement13(2007)338–355InternationalizationpathsofIndianpharmaceuticalfirms—AstrategicgroupanalysisRaveendraChittoor⁎,SougataRayIndianInstituteofManagementCalcutta,Joka,DiamondHarborRoad,Kolkata700104,IndiaReceived1July2006;receivedinrevisedform1April2007;accepted1Ma

2、y2007Availableonline23July2007AbstractThispaperisanattempttothrowlightontheinternationalizationpathsofemergingeconomyfirmsthroughastrategicgroupanalysisofinternationalizingfirmsintheIndianpharmaceuticalindustry.Strategicgroupanalysisofaproprietarydatasetofstrategicvariablesfromfortyfirmsrev

3、ealedsignificantvariationintheirinternationalizationstrategies.Thedistinctstrategiesexhibiteddifferentvaluecreationpotential,butledtosimilarlevelsofperformanceintermsofreturnonassets,thusindicatingequifinalityofdifferentpathstomultinationality.Inductivelydrawingfromin-depthanalysisoffirmsfr

4、omeachofthestrategicgroups,thepaperproposesaconceptualmodelofinternationalizationforemergingeconomyfirmsthroughacombinationofexploitationandexplorationstrategiesalongthedimensionsofproductsandmarkets.Firmsthatareabletosupplementtheconventionalexploitationstrategieswithexplorationthroughnewp

5、roductsandnewmarkets,bytakingadvantageofincreasinglyliberalizedeconomies,couldemergeasThird-worldmultinationalswithcapabilitiesthatcouldpotentiallychallengeevenMNCsfromthedevelopedworld.©2007PublishedbyElsevierInc.Keywords:Internationalizationstrategies;Emergingeconomyfirms;Strategicgroups1

6、.IntroductionTheemergenceoffirmsfromdevelopingcountriesasimportantplayersinglobalmarketshasbeenoneofthedistinctivephenomenaofglobalizationinthetwentyfirstcentury.Comingfromuniqueinstitutionalandresourceenvironments(Hoskissonetal.,2000;KhannaandPalepu,2006),someofthesefirmsaretransformingthe

7、mselvesinto‘emergingmultinationals’by⁎Correspondingauthor.E-mailaddresses:raveendra@iimcal.ac.in(R.Chittoor),sougata@iimcal.ac.in(S.Ray).1075-4253/$-seefrontmatter©2007PublishedbyElsevierInc.doi:10.1016/j.intman.2007.05.008R.Chittoor,S.Ray/JournalofInter