A co-evolution perspective of EMNE internationalization and institutions: an Integrative Framework of 5Cs

Research output: Contribution to journalArticlepeer-review


External organisations

  • Southwestern University of Finance and Economics
  • Leeds University Business School


While significant progress has been made on the contextual role of institutions, scholarly research on the dynamic process of emerging economy multinational enterprises’ (EMNEs) international activities interacting with home country and host country institutions still seems to be in its infancy. Therefore, in order to move the current academic debate forward, we examine the intersection between the internationalization of EMNEs and their institutional environments by undertaking a critical review of the existing literature, given that institutional forces not only shape organizational behavior but also affect EMNEs’ internationalization strategies and organizational outcomes. We propose an integrative framework of 5Cs (context, capability, change, concomitance and configuration) underlying the co-evolution of EMNEs’ internationalization and institutions, and position all the papers included in this Special Issue within this framework in order to point towards a number of directions for future scholarship.


Original languageEnglish
Article number101843
JournalInternational Business Review
Early online date16 Mar 2021
Publication statusE-pub ahead of print - 16 Mar 2021


  • Co-evolution, Emerging economies, Emerging economy multinational enterprises, Institutions, Internationalization