Rethinking Theoretical Frameworks for Understanding Emerging Market Multinational Enterprises: Implications for Management and Policy

Traditional international business (IB) theories are being reexamined due to the rise of emerging market multinational enterprises (EMNEs), which challenge established assumptions about multinational behaviour. These firms, rooted in rapidly developing economies, disrupt conventional strategic frameworks, necessitating novel theoretical models. This study emphasizes the limitations of existing IB theories in explaining EMNE behaviour and proposes a multilevel approach tailored to their distinct characteristics. It offers actionable insights for EMNE managers to adapt strategies, mitigate risks, and seize global opportunities. Policymakers can also leverage these findings to craft environments that foster EMNE growth and competitiveness on the international stage.