Bandra-Worli Sea Link Bridge, Mumbai with water in front and city skyline in background

Emerging Markets Research Group

How businesses expand and adapt in a global market
We explore the unique paths companies in emerging economies take to expand internationally, as well as the strategies Western multinationals adopt for doing business in these markets.

About us

The emerging markets, through inward and outward foreign direct investment, has become a key research agenda as the world’s economic focus shifts from developed nations to emerging markets such as China, India and Brazil.

The Emerging Markets Research Group is investigating the strategies of companies in emerging market as well as those of western multinationals expanding into emerging economies. We explore the unique institutional characteristics of emerging markets, the inherent diversity of institutions, and the consequent challenges and opportunities for Western multinationals.

We aim to become a point of contact for Australian businesses already doing business or interested in entering emerging markets, as well as for companies in emerging markets that have an interest in expanding into Australia.

Our people

Meet our academics, researchers and affiliates.

  • Garry Bruton, Professor of Management, Texas Christian University, United States
  • Meena Chavan, Senior Lecturer, Macquarie University
  • Lin Cui, School of Management, Marketing and International Business, Australian National University
  • Jonathan Doh, Associate Dean of Research, Villanova University, Pennsylvania, US
  • Ajai Gaur, Rutgers University, New Jersey, US
  • Helena (Wen) Li, UTS Business School
  • Ram Mudambi, Professor and Perelman Senior Research Fellow, Temple University, Philadelphia, US
  • Debmalya Mukherjee, The University of Akron, Ohio, United States
  • Torben Pedersen, Department of Management and Technology, Bocconi University, Milan, Italy
  • Arpit Raswant, Deakin Business School, Deakin University
  • Pradeep K Ray, The University of UNSW
  • Ravi Sarathy, Northeastern University, Boston, US
  • David Shao, The University of Newcastle
  • Nitish Singh, Saint Louis University, Missouri, US
  • Nishant Tiwary, Stanford Graduate School of Business, Harvard Kennedy School
  • Sunil Venaik, University of Queensland Business School
  • En Xie, Tongji University, China
  • Yifan Zhong, The University of Western Australia

Our activities

Ecosystem-specific advantages in international digital commerce
  • Dr. Liang Chen, University of Melbourne
  • 12 April 2019

This talk will explore the challenges that digital platforms pose to the conventions of international business scholarship. The organization of digital platforms is described as predicated on the bundling of external resources for collective value creation, to such an extent that a platform’s expansion may follow the logic of externalization. We contrast platform-centric ecosystems with network multinationals in terms of their governance. Building on and extending the theory of the ecosystem, we propose the idea of ecosystem-specific advantages (ESAs). Costs and difficulties in the transfer of such advantages to new markets are analyzed, with particular attention to bottlenecks as a key barrier. We will discuss future research directions with regard to users, suppliers of complementary services, platform owners, and notably, the dynamic process of upgrading ESAs.

The chimera of India's digital plays: chasing a billion plus customers
  • Dr. Tejpavan Singh Gandhok, Indian School of Business
  • 5 November 2018

India, with its large billion plus population and ‘growing middle-class’, is perceived as the next major market where the battle for digital dominance can still be won. Accordingly, leading digital players in India (both global and local) are attempting to imitate the US and Chinese tech titan’s strategies and outcomes.

Advancing Emerging Markets Research Conference
  • University of International Business and Economics, Beijing, China
  • 13 June 2018

Emerging economies are undergoing fundamental macroeconomic changes. The institutional transition coupled with the threat of competition by multinational companies has compelled many companies in emerging market to undertake strategic transformation.

View and download the program (pdf, 4.9MB).

Microfinance diversion: Effects of recipient’s individual factors, resource shock and family involvement
  • Dr Seung-Hyun Lee, Naveen Jindal School of Management, University of Texas
  • 8 June 2018

Microfinancing aims to give recipients opportunities to build their businesses and escape poverty. However, prior research documents that funds are often not used for business. We investigate the effects of individual and situational factors of microfinance recipients and their interactions with situational factors in determining how the funds will be used.

Changing patterns of foreign direct investment from developed and emerging economies

  • Prof Dr K Narayanan, IIT Bombay, Mumbai, India
  • 16 May 2018

Many countries embarked on the path of globalisation in the past three decades. This period witnessed greater world trade, international flow of capital and other resources, as well as growing knowledge and technology sharing among developed and emerging economies. This presentation analyses the changing patterns of foreign direct investment flows from both developed and emerging economies. 

Internationalisation and corporate governance: A study of Indian family-owned business groups

  • Associate Professor Dr S Subramanian, Indian Institute of Management Kozhikode
  • 11 April 2018

The current research into the relationship between internationalisation and corporate governance practices in emerging markets broadly indicates a positive relationship. This paper attempts to elaborate how these relationships emerge and to understand the relationship between corporate governance practices and internationalisation using qualitative research methods in the context of family-owned business groups in India.

Advancing Emerging Markets Research
  • University of Sydney Suzhou Campus, Suzhou, China
  • 21 to 22 November 2017

Speakers: JT Li (HKUST), Jane Lu (CEIBS), Daphne Yiu (CUHK), Chris Ahmadjian (Hitotsubashi), Ajai Gaur (Rutgers), Lin Cui (ANU), Tao Bai (XJTLU)

University of Sydney participants: Vikas Kumar, Wu Zhan, Gracy Yang, Chinmay Pattnaik, Yi Li

View and download the program (pdf, 200KB).

Public policymaking in India
  • 20 November 2017

This workshop showcases current research into public policymaking in contemporary India. Papers canvass developments in a variety of public policy domains including renewable energy, employment, consumer protection, credit and food security. 

Reports from the global field: The IMPACT project
  • Professor Jason Shaw, The Hong Kong Polytechnic University
  • 11 October 2017

This presentation outlined the Investigating Merit Pay across Countries and Territories (IMPACT) project, a global study of the psychological reactions to pay increases.

The CAGE around cyberspace? How demand side bricolage strategies accelerate the internationalisation speed of digital start-ups
  • Professor Sali Li, University of South Carolina
  • 3 October 2017

How do digital start-ups internationalise their digital innovations in cyberspace, and what strategies can facilitate their international expansion?

India's economy at a crossroads: Issues and challenges
  • Dr Vinish Kathuria, Shailesh J Mehta School of Management of IIT Bombay
  • 18 September 2017

In May 2014, India ushered in a new era with a centre-right alliance forming the largest majority government in 30 years, paving the way for widespread reforms. This talk briefly delves into some of these reforms and what implications they will have in the short, medium and long-term for the Indian economy.

Effects of corporate social responsibility at home on emerging market multinational enterprises’ outward foreign direct investment
  • Dr Tao Bai, Xi'an Jiaotong-Liverpool University
  • 23 August 2017

Besides liabilities of foreignness, emerging market multinational enterprises face additional legitimation challenges because of liabilities of origin. We examine whether conducting corporate social responsibility activities in a home country could facilitate emerging-market multinationals' internationalisation through gaining legitimacy from global stakeholders.

Latin America in the 21st century: Cultural differences and competitive strategies
  • Professor Christopher J Robertson, Northeastern University Boston
  • 18 August 2017

Exploring the impact of immigration on national differences in Latin America; subcultural differences within nations; unique competitive strategies developed by Latin American multinationals; and coping with economic and political uncertainty. Professor Robertson has focused on Latin America for more than two decades, has lived in Ecuador and Peru, and returns to the region multiple times each year.

Globalisation of research and development and innovation: India's experience
  • Professorial Fellow V W Krishna, University of NSW
  • 19 July 2017

Research and innovation-based networks of transnational companies that were earlier confined to North America, Europe and Japan have expanded into emerging markets. What are the linkages of foreign R&D centres with Indian institutions and companies? What is their impact on Indian companies? How are Indian firms linked with global innovation chains? 

10th Asia Academy of Management Conference
  • Kitakyushu Convention Center, Kitakyushu City, Fukuoka, Japan
  • 20 to 21 June 2017

The Asia Academy of Management and the Taiwan Academy of Management invited papers for the joint conference on the role of context in theory building and exploring new ideas.

International marketing implications of karma and materialism in India
  • Associate Professor Rajat Roy, Bond University
  • 5 May 2017

Extending knowledge of consumer behaviour and international marketing by delving deeper into the underlying process that links karma to materialism. Positing that international marketers and multinationals focusing on the growing Indian middle class may like to embody both karmic belief and materialistic values in their efforts to appeal to Indian consumers.

Turkish multinationals: Market entry and post-acquisition strategies
  • Professor Mehmet Demirbag, University of Essex, Essex Business School, UK
  • 9 February 2017

Discussing the drivers, motives, and internationalisation strategies of Turkish companies and evaluating the adequacy of theoretical perspectives in international expansion.

Asia Academy of Management and Asia Pacific Journal of Management Paper Development Workshop
  • Curtin University, Perth, Australia 
  • 26 to 27 August 2016

Asia Academy of Management (AAOM) and Asia Pacific Journal of Management (APJM) conducted a paper development workshop during the Asia Academy of Management Regional Symposium.

3rd PAN IIM World Management Conference
  • Madhya Pradesha, India 
  • 16 to 18 December 2015

The University of Sydney Business Business is the External Partner for the 3rd Pan IIM Conference.

Internationalization of Business Groups
  • National University of Singapore 
  • 5 to 6 December 2013

The purpose of this workshop was to address the issue of internationalization of business groups from two of the world's largest EEs: China and India.

Global Strategies for an Emergent India
  • Indian Institute of Management, Khozikhode 
  • 27 to 28 December 2012

The rise of India, particularly after its dismantling of the license raj, has led to a renewed interest not only among corporate executives but also among business scholars.

View and download the program (pdf, 291.3KB).

Leveraging India: Strategies for Global Competitiveness
  • Sydney, Australia 
  • 11 to 12 April 2012

India's rise in the global economy has generated interest among corporate executives worldwide as well as management, international business and strategy scholars.

View and download the program (pdf, 134.8KB).

Emerging Market Firm Competitiveness: Internationalization, Innovation and Institutions (3Is)
  • Philadelphia, Pennsylvania 
  • 11 to 12 November 2011

Emerging market firms (EMFs) are increasingly gaining prominence in the global economic arena as a result of the following three inter-related phenomena.

View and download the program (pdf, 131.7KB).


Dr Vikas Kumar
Professor Vikas Kumar
Academic profile

Contact us

Professor Vikas Kumar
  • Room 4137, Abercrombie Building H70, The University of Sydney