The Uppsala model explains the traditional internationalisation process of multinational enterprises (MNEs), which gradually begin to internationalise from countries with smaller psychic distances. However, in the turbulent global economy, an increasing number of MNEs from emerging markets (EMNEs) adopts a more radical and aggressive approach, strategically using international expansion as a springboard to enter an overseas market and radiate surrounding countries and regions. By combining the springboard perspective and the Uppsala model, we analyse a series of processes from EMNE’s first entry into an overseas market to the successful localisation and expansion of international business. This radical model of international expansion has not been thoroughly studied. This empirical study aims to address this research gap by using a qualitative method and an in-depth case study. This paper conducted a semi-structured interview with 16 expatriates, executives, and middle-level managers from the case company in 2016. As one of the few single case studies that systematically studies the internationalisation process of EMNEs and provides first-hand empirical evidence, it contributes to practice and provides a contextual reference for EMNEs.

Emerging market multinational enterprises (EMNEs) play a vital role in global economic development and usually adopt aggressive internationalization strategies. However, the volatile global environment has caused EMNEs to face various risks in their overseas expansion. To maximize the competitive advantages and achieve successful expansion, EMNEs should choose the most suitable foreign entry mode. Therefore, EMNEs need to understand what environmental factors affect their decision-making and how they influence the choice of entry modes, especially in a volatile environment. This review examines 44 selected journal articles from 1996 to June 2021 on the environmental volatility determinants of EMNEs’ entry mode choice. The entry mode choice we examined is mainly wholly-owned subsidiary versus international joint venture. We categorized the environmental volatility determinants investigated in the literature we reviewed into country-level factors (such as cross-national distance) and industry-level factors (such as industry condition). The main contributions are: (1) the review reveals three research gaps in extant studies, which are lack of research on external environmental factors, lack of research on multinationals from less concerning emerging economies, and lack of research on small-to-medium (SMEs) enterprises. (2) Practically, the study highlights the importance of understanding external environmental factors for EMNEs to make the most suitable entry mode decisions.

The past two decades have witnessed the significant growth of emerging markets and the rise of emerging market multinational enterprises (EMNEs) (Luo and Tung 2007)

This paper aims to explore the effectiveness of carbon emissions trading system by using mixed method research. In the past 5 years, the development level of carbon finance in Hubei Province is in the first tier. Hubei carbon emission trading center was established in September 2012, and now ranks top in the trading volume and total transaction amount of China’s seven pilot exchanges. Therefore, choosing Hubei Province as a sample to study the carbon emissions trading system has good externalities, that is, the research conclusions are highly representative. In order to make an in-depth analysis of the system construction and operation effect of the environmental equity trading market of carbon emission rights, this paper uses the closure of Hubei Province as an instrumental variable to alleviate the endogeneity in previous studies, and makes an empirical study on the effectiveness of the carbon emission trading system. The study finds that: after alleviating endogeneity, the current carbon emissions trading has reduced air quality. At the same time, this paper theoretically and statistically verifies the correlation and exogenous of the instrumental variable of city closure to ensure the credibility of the results. This paper further analyzes and finds that the lower the degree of industrialization and the worse the air quality, the higher the degree of air quality reduction. In addition, this paper conducted a series of robustness tests, such as adding new traffic related control variable, replacing variable indicators of air quality, conducting placebo test, and conducting lag regression, which verifies that the benchmark regression results are still valid. In the mechanism part, this paper uses the methods of interview and case analysis to analyze the causal mechanism of this phenomenon from the perspective of the system itself and the challenges in the implementation process. As far as the system itself is concerned, this paper believes that the current carbon emissions trading system does not cover a comprehensive range, there are defects in the way of carbon quota allocation, and the accuracy of the current verification method needs to be tested; In the process of implementation, there are “local protectionism” and information asymmetry.