A Conceptual Framework of Internationalization of Family Business Groups: Turkey Context

Resource exploration has been seen as the main reason for the accelerated internationalization of emerging market firms. However, despite their specific contexts and organizational forms, emerging market multinational companies (EM MNCs) literature underestimated the context-specific factors and their effect on foreign direct investment activity so far. EM MNCs in those markets may have their own firm-specific resources that fit their institutional contexts and can eliminate transaction costs, which result from those contexts. For instance, Business Groups (BG) with their unique attributions would have a hybrid internationalization model like their forms, in those markets. This study will try to propose a multi-theoretical perspective, which includes resource, transaction costs and institution-based views for internationalization of family BGs (FBG), which is a dominant form of organizing in Turkey. Hence, the determinants of the internationalization level of FBG will be discussed from different perspectives and proposed.