The influence of institutional void and socio-cultural factors on the internationalization of emerging multinationals
Abstract
The process of firm internationalization involves critical decisions regarding location, entry mode, investment levels, and the management of foreign operations. This paper examines the effects of institutional voids and socio-cultural factors on the internationalization of Emerging Multinationals (EMNCs) from the BRICS and MENA regions. We draw on institutional and internationalization theories to explain how socio-cultural factors influence the internationalization of EMNCs. Using the two-step system GMM over a ten-year period (2012–2021), we find that institutional voids, religious diversity, power distance, and a firm's ESG practices at home positively impact internationalization. These findings contribute to the literature by quantifying key variables related to internationalization, cultural diversity, institutional voids, power distance, and ESG engagement.
RAS ID
72566
Document Type
Journal Article
Volume
73
School
School of Business and Law
Copyright
subscription content
Publisher
Elsevier
Identifier
Thao Nguyen: https://orcid.org/0009-0002-9839-8629
Comments
Ettalibi, N., Arunachalam, M., Nguyen, T., & ur Rehman, K. (2025). The influence of institutional void and socio-cultural factors on the internationalization of emerging multinationals. Research in International Business and Finance, 73. https://doi.org/10.1016/j.ribaf.2024.102605