Are multinational enterprises from the emerging economies global or regional?

While there is ample statistical evidence that the top 500 multinational enterprises (MNEs) are predominantly home-region-bound or bi-regional, the operations of MNEs from the emerging economies have not been comprehensively analyzed. This constitutes a vital gap since firms from emerging economies have been making prominent acquisitions in recent years, and these economies are expected to post impressive growth despite the global economic slowdown. MNE managers cannot ignore such opportunities and threats. This study analyzes the operations of MNEs from four leading emerging economies - Brazil, Russia, India and China (BRIC). Since aggregated FDI data often tack transparency due to off-shore tax havens, we supplement that analysis by examining 1430 mergers and acquisitions undertaken by MNEs from BRIC economies during 2000-2007. We also develop insights into their dispersion pattern across five industry sectors in six geographical regions. (C) 2009 Elsevier Ltd. All rights reserved.