The internationalization of emerging market business groups: an integrated literature review

Purpose The purpose of this paper is to review the extant literature on the institutional, market‐centered, and the resource‐based perspectives on the internationalization of BGs in emerging markets; to suggest that business group affiliation is an important ingredient in the internationalization of emerging market MNCs; and to offer examples of internationalization from one emerging market, Turkey. Design/methodology/approach This is a critical literature review integrating two strands of literature, the institutional, market‐centered and resource‐based theories of internationalization and the OLI and the LLL models of emerging market multinationals' international expansion. Findings The theorizing indicates that an integrated theoretical approach should lead to a better understanding of emerging market business group affiliates' internationalization. Research limitations/implications As a literature integration paper, the paper is limited in its practical implications. Originality/value The paper is a critical literature review and is likely to lead to testable hypotheses about the internationalization of business group affiliates from emerging markets.