Do It Right the First Time? Exploring the First Cross-border Acquisition and Expansion Frequency of Emerging Market Multinationals

Do it right the first time! But, how? Current dialogue on the expansion of emerging market multination enterprises (EMNEs) is pervasive. Nonetheless, it ought to have examined strategic attributes and t speed of implementing different strategies for their first venture. Drawing on the springboard perspectiv this study tests the impact of EMNEs’ first cross-border acquisition (CBA) strategy and speed on their co sequential expansion frequency and performance. We also examine the boundary conditions of comparati nationalism between countries, in view of the resurgence of nationalism in an era of deglobalization. Findin reveal that EMNEs’ rapid adoption of a focused strategy for their first CBA increases their expansion fr quency, while the adoption of a conglomerate strategy decreases it. These relationships are affected in rever by high comparative nationalism, and the performance consequences of expansion vary with firms using di ferent strategies for their first attempt. This study enriches the EMNE literature and highlights the role national ideologies in international business research.