Purpose

This paper aims to study the internationalization path of emerging market multinational enterprises (EMNEs) in their international expansion through the global cities (GCs) phenomenon.

Design/methodology/approach

The authors used a quantitative approach to identify the most used ownership and entry modes, the preferred economic sectors and the level of interconnectedness of GCs.

Findings

The manuscript identified the predominance of the tertiary sector in the selection of GCs as foreign direct investment destinations. Second, the acquisition is the preferred entry mode regardless of the connectivity of the GC and the country of origin of the EMNE. The third is the use of wholly-owned subsidiaries as the preferred ownership mode. Finally, market-seeking is the main driver for the internationalization of Latin American EMNE. Consequentially, some GCs-specific advantages remain untapped by Latin American EMNE.

Research limitations/implications

This manuscript considered each investment into a global city as a single step, although some acquisitions occurred incrementally through several small investments.

Practical implications

The authors developed a road map for the internationalization of Latin American EMNEs through GCs, acquisitions and wholly-owned subsidiaries. Finally, service-oriented EMNEs, such as IT and financial services, target locations with high interconnectedness to maximize the benefits of GCs-specific advantages.

Originality/value

The authors pointed out that market-seeking, not resource-seeking or efficiency-seeking is the primary driver of the internationalization of EMNE into global cities.

中文翻译：

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全球城市和多拉丁裔​​：寻找全球城市特有的优势、建立和所有权进入模式

目的

本文旨在通过全球城市（GCs）现象研究新兴市场跨国企业（EMNEs）在国际扩张中的国际化路径。

设计/方法/方法

作者使用定量方法来确定最常用的所有权和进入模式、首选经济部门以及 GC 的相互关联程度。

发现

该手稿确定了第三产业在选择 GC 作为外国直接投资目的地方面的优势。其次，无论GC的连通性和EMNE的原产国如何，收购都是首选的进入模式。三是以全资子公司为优先的所有制模式。最后，市场寻求是拉美新兴市场国际化的主要驱动力。因此，拉丁美洲 EMNE 仍未开发出一些 GC 特有的优势。

研究限制/影响

这份手稿将每一次对全球城市的投资视为一个步骤，尽管一些收购是通过几项小额投资逐步发生的。

实际影响

作者制定了通过 GC、收购和全资子公司实现拉丁美洲 EMNE 国际化的路线图。最后，面向服务的 EMNEs，如 IT 和金融服务，以高度互联的地点为目标，以最大限度地发挥 GCs 特定优势的好处。

原创性/价值

作者指出，寻求市场，而不是寻求资源或寻求效率是 EMNE 国际化进入全球城市的主要驱动力。