Multilatinas, dynamism and their behavior in Asia

Abstract

This dissertation comprises two essays examining Multilatinas, Latin American multinationals, an area of growing academic interest. The first essay conducts a systematic literature review to address gaps in the existing research, specifically focusing on Multilatinas’ trade ties with Asia. It highlights underexplored topics such as the role of the state, impacts on small economies, and the services sector while suggesting future research areas like international agreements and family ownership. The review analyzed 66 articles, presenting key findings in tables and listing Multilatinas active in Asia. This work aims to deepen the understanding of Multilatinas' internationalization processes and identify critical research directions for their evolving global roles. The second essay explores the distinct challenges and opportunities Brazilian and Mexican Multilatinas face in Asian markets. Operating under unique circumstances compared to corporations from developed nations, these Latin American firms offer valuable insights for academia, business, and policy. Using a mixed-methods, non-experimental approach, the study identifies 13 factors influencing their global expansion, spanning both internal and external elements. A Pareto analysis highlights the most critical factors related to foreign trade, while Pearson’s correlation assesses links between financial metrics, efficiency, and export performance. Results show that Mexican Multilatinas generally experience a low negative correlation between exports and profitability, indicating potential challenges to profitability with increased exports. Conversely, Brazilian Multilatinas demonstrates a strong positive correlation, suggesting that higher exports often boost financial performance due to advantageous economic conditions or effective corporate strategies in their internationalization efforts. Both essays emphasize the need for continued research on the strategies and behaviors of Multilatinas, especially in the context of a changing global economy. Future studies should explore variations across different sectors, the impact of corporate culture on internationalization, and the influence of macroeconomic factors on these companies' performance in distant markets. Further exploration into international agreements, family ownership, and state roles in internationalization is recommended. This dissertation not only documents the progress of Multilatinas but also opens new avenues for addressing questions and challenges in their global expansion efforts.