BazEkon - Biblioteka Główna Uniwersytetu Ekonomicznego w Krakowie

BazEkon home page

Meny główne

Sass Magdolna (Hungarian Academy of Sciences, Budapest, Hungary), Éltető Andrea (Hungarian Academy of Sciences, Budapest, Hungary), Antalóczy Katalin (Budapest Business School)
Outward FDI from Hungary : the Emergence of Hungarian Multinationals
Entrepreneurial Business and Economics Review, 2014, vol. 2, nr 3, s. 47-62, rys., bibliogr. 29 poz.
Tytuł własny numeru
FDI in Central Europe
Słowa kluczowe
Inwestycje bezpośrednie, Inwestycje zagraniczne, Inwestowanie
Direct investments, Foreign investment, Investing
Objective: Hungary is a leading outward foreign investor among the new member states of the European Union. Our research question is what those factors are which enabled Hungarian companies to expand abroad successfully.

Research Design & Methods: Our methodology is based on company case studies of the leading investors and other randomly selected companies with foreign investment.

Findings: Our main findings include the specific ownership advantages (OA) of privatised companies, with links to their heritage from the pre-transition period.

Implications & Recommendations: For companies established after 1990, OA is more similar to that of "traditional multinationals." Second, we make a link between "virtual indirect" investors and this specific OA, showing how the strong position and specific knowledge of the management are interrelated in developing and changing the OA.

Contribution & Value Added: On the basis of our research, the policy dimension concerns, first of all, the role of increasing local competition due to increased investments by foreign multinationals. This enables a few local companies to enhance their level of competitiveness to such level where they themselves will be able to become successful foreign investors. Second, highly innovative companies in small market niches are able to internationalise successfully even in the post-transition environment. Fostering R&D is thus an important tool for trade and investment policy as well. (original abstract)
Dostępne w
Biblioteka Główna Uniwersytetu Ekonomicznego w Krakowie
Biblioteka Szkoły Głównej Handlowej w Warszawie
Biblioteka Główna Uniwersytetu Ekonomicznego w Katowicach
Biblioteka Główna Uniwersytetu Ekonomicznego we Wrocławiu
Pełny tekst
  1. Antalóczy, K. (2008). Állami piacteremtés - nemzeti bajnok teremtése: a Richter Gedeon Nyrtesete. Külgazdaság, 52(7-8), 41-80.
  2. Aulakh, P.S. (2007). Emerging multinationals from developing economies: Motivations, paths and performance. Journal of International Management, 13, 235-240.
  3. Buckley, P.J., & Casson, M. (1995). The Economic Theory of Multinational Enterprise. New York: St- Martin's Press.
  4. Contessi, S., & El-Ghazaly, H. (2010). Multinationals from Emerging Economies. Growing but little understood. The Regional Economist, July.
  5. Dunning, J. (1993). Multinational Enterprises and the Global Economy. Reading, MA: Addison- Wesley Publishing Company.
  6. Eisenhardt, K.M. (1989). Building theories from case study research. Academy of Management Review, 14(4), 532-550.
  7. Gaur, A., Kumar V., & Singh, D. (2014). Institutions, resources and internationalization of emerging economy firms. Journal of World Business, 9, 12-20.
  8. Goldstein, A. (2007). Multinational Companies from Emerging Economies. Composition, Conceptualization and Direction in the Global Economy. Palgrave Macmillan.
  9. Johanson, J., & Vahlne, J.E. (1977). The internationalization process of the firms. Journal of International Business Studies, 8, 23-32.
  10. Knight, G.A., & Cavusgil, S.T. (1996). The born global firm: a challenge to traditional internationalization theory. Advances in International Marketing, 8, 11-26.
  11. Lessard, D., & Lucea, R. (2009). Mexican multinationals: insights from CEMEX. In Emerging Multinationals in Emerging Markets (pp. 280-311). Cambridge: Cambridge University Press.
  12. Li Sun, S., Peng, M.W., Ren, B., & Yan, D. (2012). A comparative ownership advantage framework for cross-border M&As: The rise of Chinese and Indian MNEs. Journal of World Business, 47. 4-16.
  13. Madsen, T.K., & Servais, P. (1997). The internationalization of Born Globals: an evolutionary process?. International Business Review, 6, 561-583.
  14. Mathews, J.A, (2006), Dragon Multinationals: New players in 21. century globalisation. Asia Pacific Journal Management, 23, 5-27.
  15. Mathews, J.A. (2002), Dragon Multinational: A New Model for Global Growth. New York: Oxford University Press.
  16. Morgan-Thomas, A., & Jones, M.V. (2009). Post-entry internationalization dynamics. Differences between SMEs in the development speed of their international sales. International Small Business Journal, 27(1), 71-97.
  17. MKIK (2013). Exporters Of The Year Awards 2013 Handed Over. Hungarian Chamber of Commerce. Retrieved on January 1, 2014 from
  18. Nocke, V., & Yeaple, S. (2008). An assignment theory of foreign direct investment. Review of Economic Studies, 75(2), 529-557.
  19. Oviatt, B.M., & McDougall, P.P. (1994). Toward a theory of international new ventures. Journal of International Business Studies, 25(1), 45-62.
  20. Oviatt, B.M., & McDougall, P.P. (2005). Defining International Entrepreneurship and Modeling the speed of Internationalization. Entrepreneurship Theory and Practice, 29(5), 537-554.
  21. Ramamurti, R., & Singh, J.V. (2008), Emerging Multinationals from Emerging Markets. Cambridge, UK: Cambridge University Press.
  22. Ramamurti, R. (2012). What is really different about emerging market multinationals? Global Strategy Journal, 2, 41-47.
  23. Rugraff, E. (2010). Strengths and weaknesses of the outward FDI paths of the Central European countries. Post-Communist Economies, 22(1), 1-17.
  24. Sass, M. (2012). Internationalisation of innovative SMEs in the Hungarian medical precision instruments industry. Post-Communist Economies, 24(3), 365-382.
  25. Sass, M., Antalóczy, K., & Éltető, A. (2012). Emerging multinationals and the role of virtual indirect investors: the case of Hungary. Eastern European Economics, 50(2), 41-58.
  26. Sass, M., & Kalotay, K. (2011), Hungary: outward FDI and its policy context 2010. In K.P. Sauvant, Jost, T., Davies, K.,& Poveda Garcés, A.-M. (Eds.), Inward and outward FDI country profiles (pp. 115-129). New York: Vale Columbia Center on Sustainable International Investment.
  27. Sass, M., & Kovács, O. (2013). A Snapshot of the Leading Hungarian Multinationals 2011. Emerging Market Global Players project led by Columbia University, The Vale Columbia Center on Sustainable International Investment. Retrieved on March 15, 2014, from: AL.pdf
  28. Svetlicic, M. (2004). Transition Economies' Multinationals - Are They Different from Third World Multinationals? In: Ch. Chakraborty (Eds.), Proceedings of the 8th International conference on Global Business and Economic Development, January 7-10, 2004, Guadalajara - Montclair: Montclair State University.
  29. Williamson, O.E. (1975). Markets and Hierarchies: Analysis and antitrust implications. New York: The Free Press.
Cytowane przez
Udostępnij na Facebooku Udostępnij na Twitterze Udostępnij na Google+ Udostępnij na Pinterest Udostępnij na LinkedIn Wyślij znajomemu