The influence of institutional void and socio-cultural factors on the internationalization of emerging multinationals

Author Identifier

Thao Nguyen: https://orcid.org/0009-0002-9839-8629

Document Type

Journal Article

Publication Title

Research in International Business and Finance

Volume

73

Publisher

Elsevier

School

School of Business and Law

RAS ID

72566

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

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.

DOI

10.1016/j.ribaf.2024.102605

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