With the FinTech industry being one of heavy expansion, geographic markets have thus far reached varying levels of maturity. This is suggested to favour Born Global firms (BGs) as a common rationale behind their non-domestic inception is to exploit maturity differences among markets. How FinTech BGs internationalize is hence an alluring topic, and albeitFinTech having risen to being amongst the most prominent areas of finance, FinTechmarket expansion has been granted little academic focus. Moreover, amid FinTech BGs often being equity financed and high growth, and the recent years’ favourable capital market conditions combined with surging FinTech valuation multiples, a need for strategically sound market expansion processes may not have existed. Recent trends are however conveying similarities to the dot com crash, and a new climate may be looming, justifying more research within the subject. This thesis hence aimed to enhance the understanding of how FinTechs internationalize in an industry characterised by BG opportunities, and to understand how FinTech BGsshould derive entry strategies to new markets. Through embarking from the academia, a conceptual framework was formed with variables believed to exert influence on FinTech BGs’ market expansion. A qualitative case study of a Swedish FinTech BG was thereafter conducted, examining its applicability,to understand how the BG status affect market expansion endeavors, and how such endeavors should be planned. The findings suggest that the geographical division of FinTech BGs’ ecosystems is the primary source of competitive advantages, and that one should leverage these in expansion endeavors. The thesis further argues that the value encompassed in technology opens opportunities for financially constrained expansion. It moreover adds to the discussion about entry modes in service industries, and argues that there is no vested interest in having distinctive lines among entry modes, and that they should be viewed as compliments. Finally, the study argues that valuation and funding should be granted larger focus in internationalization research. The findings suggest that BGs can exploit the geographical division between M&A targets and their own investors in search of arbitrage opportunities, a topic inviting further research. / Till följd av FinTech-industrins snabba expansion har geografiska marknader uppnått olika mognadsgrader. Ett sådant klimat påstås vara Born Global-företag (BGs) till gagn då deras utländska grundande ofta motiveras av att utnyttja mognadsskillnader mellan marknader. Hur FinTech BGs internationaliserar är därmed ett intressant ämne, men trots att FinTech har vuxit till ett av de mest framträdande områdena inom finans har FinTechs marknadsexpansion beviljats lite akademiskt fokus. Vidare, då FinTech BGs tenderar att vara kapitalfinansierade och snabbt växande, samt med hänsyn taget till de senaste årens starka börsklimat och höga värderingsmultiplar, har ett behov för en strategisk sund marknadsexpansionsprocess kanske inte funnits. Nya trender visar dock på likheter med IT-bubblan, och ett nytt klimat kan därmed vara förestående, vilket motiverar fler studier inom ämnet. Detta arbete syftade därmed till att förbättra förståelsen för hur FinTechs internationaliserar i en industri som kännetecknas av BG-möjligheter, samt att förstå hur FinTech BGs bör utforma en strategi för att expandera till nya marknader. Genom att ta avstamp i akademin skapades ett konceptuellt ramverk innehållande variabler som ansågs påverka FinTech BGs geografiska expansion. En kvalitativ fallstudie på ett svenskt FinTech BG genomfördes därefter, där dess tillämpbarhet undersöktes för att förstå hur BG-kännetecken påverkar marknadsexpansion, samt vad som bör tas i beaktande när sådan expansion planeras. Resultaten tyder på att FinTech BGs geografiskt utspridda ekosystem är deras primära källa till konkurrensfördelar, och att man bör dra nytta av detta när man internationaliserar. Studien argumenterar vidare för att det värde som finns i teknologin öppnar upp möjligheter till marknadsexpansion under finansiella begränsningar. Dessutom adderar rapporten till diskussionen gällande metoder för inträde på nyamarknader inom serviceindustrier, och argumenterar för att det inte finns ett egenintresse med tydliga avgränsningar mellan olika metoder utan att de bör ses som komplement. Slutligen argumenterar studien för att företagsvärdering och finansiering bör bli givna större fokus inom internationaliseringsforskning. Resultaten tyder på att BGs kan utnyttjadet faktum att förvärvskandidater och deras egna investerare befinner sig i olika geografieri sökande efter arbitragemöjligheter, ett område som bjuder in till vidare forskning.

The International Trade Administration reported that 70% of worldwide revenue for American businesses comes from consumers in emergent markets such as India, the Middle East, and Northern Africa. However, the United Arab Emirates (UAE) is a country that many American small business owners are not operating in and capitalizing on the financial opportunities that are available. The purpose of this multiple case study was to explore strategies American small business owners use in successful international entrepreneurship for increased revenue and operational longevity. The study population consisted of 5 American small business entrepreneurs who had succeeded operating in the UAE for at least 5 years. The resource-based view theory was the conceptual framework that grounded this study. Data collection included semistructured interviews and a review of company documents and government records. Data analysis involved coding, word clustering, and the use of qualitative data analytical software to identify patterns. Member checking of interview responses helped to strengthen the integrity of the findings. The use of methodical triangulation enabled a rich analysis and an enhanced trustworthiness of the results. The 4 key themes that emerged from the data analysis were strategic planning, understanding local culture, building relationships, and using digital platforms. Small business owners could use the key themes for the development of international entrepreneurial strategies. The findings from this study and the knowledge generated may influence positive social change by increasing local employment, improving economic conditions, and promoting the development of international business operations for American entrepreneurs.

Scholars in the international business field have presented various findings on international entry mode strategies, yet few were conducted on the Middle East. However, a recent study has presented a new form of entry mode used among multinational corporations (MNCs) in the Middle East where foreign companies tend to form partnership with individuals (local sponsor) rather than corporations when entering the market. The entry mode is presented as “sponsorship” entry mode, which is a new form of entry used by MNCs. It allows MNCs to enter the market in a similar way of joint venture, however, instead of finding a partner to penetrate the market MNCs are required to find a local sponsor. The thesis purpose is to examine the case of United Arab Emirates (UAE) as one of the most attractive countries for foreign investors in the Middle East. In addition, the thesis will provide a deeper understanding of the “Sponsorship” entry mode and the different criteria needed to select a local sponsor. To get a deeper understanding of the subject, a qualitative approach has been followed. Additionally, the data was collected through semi-structured interviews with senior managers and CEOs, which were based on the literature review to get rich findings. The literature review presents several theories and models that helped to analyse the data collected from the interviewees. Moreover, a conceptualize framework was added in the literature review chapter to summarise and illustrate a primary framework that provides an idea on the “sponsorship” entry mode.  By analysing the data that were collected, the outcome of the research reviled various forms of local sponsors that could be chosen based on the criteria needed to guarantee a successful entry. The findings have also provided insightful examples of different challenges that could be faced when establishing a sponsorship through a local sponsor and the different strategies used to cope with such challenges. The outcome of this study has provided a deeper understanding of the “sponsorship” entry mode and the different selection criteria needed to select a local sponsor. Finally, the thesis concluded the study by providing answers to the research questions and summarizing the answers into the revised conceptual framework.

Yes / The largest influx of refugees since German unification has generated new challenges and opportunities in Germany’s society, culture, politics and economy. Theory advocates the advantages for international business of institutional change, migrations and integration. However, a negative public perception can conceal and inhibit resources and opportunities for German multinational enterprises. How did the attitude of Germany towards refugees change in 2015 and 2016? How did formal and informal German institutions react on the EU refugee crisis? How has this affected decision makers in German MNEs in terms of foreign market entry choices? How do German MNEs evaluate the long-term consequences of this crisis? This paper investigates in which ways the influx of refugees and migrants who arrived in Germany has affected the international business strategy of German MNEs. It is divided into two parts. Part One analyses the impact of this crisis on German culture, society, government, politics and economics and examines how it has been perceived and displayed. Part Two will further investigate how German MNEs are influenced by the migration context in Germany and Europe and how this affects their foreign market entry strategies in emerging economies.

Yes / The largest influx of refugees since German unification has generated new challenges and opportunities in Germany’s society, culture, politics and economy. Theory advocates the advantages for international business of institutional change, migrations and integration. However, a negative public perception can conceal and inhibit resources and opportunities for German multinational enterprises. How did the attitude of Germany towards refugees change in 2015 and 2016? How did formal and informal German institutions react on the EU refugee crisis? How has this affected decision makers in German MNEs in terms of foreign market entry choices? How do German MNEs evaluate the long-term consequences of this crisis? This paper investigates in which ways the influx of refugees and migrants who arrived in Germany has affected the international business strategy of German MNEs. It is divided into two parts. Part One analyses the impact of this crisis on German culture, society, government, politics and economics and examines how it has been perceived and displayed. Part Two will further investigate how German MNEs are influenced by the migration context in Germany and Europe and how this affects their foreign market entry strategies in emerging economies.

台灣產險業在西元1991年後，配合台商產業外移擴張及政府南進與西向政策，紛紛於東南亞及中國大陸設立辦事處以服務台商。雖然產險業於海外設立據點已有十九年，但礙於各國保險法令規定及保險業投資限制，致使產險業在國際市場之經營迄今仍無重大突破。 本研究將針對目前產險業在海外東南亞據點及未來最大之保險市場-中國作完整探討，對各國目前經濟成長、保險市場、外資投資保險法令、及台商在該國的投資狀況分析及歸納，以做為台灣產業未來在當地經營發展之參考。 本研究文以日本產險業三井住友保險集團為比較模式，利用多國籍企業與海外市場進入模式，探討保守的日本保險公司如何在海外經營日商業務；進而以購併方式取得海外當地業務，以達到該公司全球策略願景。 台灣產物保險業應根據海外各據點之資源及條件，運用本身的競爭優勢以及自己的需求到不同地區做投資佈局；台灣產險業未來全球佈局的考量應是市場重於成本。 / In view of Taiwanese enterprises’ expansion to world market since 1991 and government’s policy toward Southeast Asia and policy toward West Mainland China, Taiwan non-life insurance companies decided to go abroad to set up office for serving their clients. Although Taiwan non-life insurance companies have 19 years experience in exploring world market, however, they still have no breakthrough in overseas business. In this study, I will bring out my view for the operation of non-life insurance companies in Southeast Asia and Mainland China which will be the biggest market in the future. The analysis for countries economic growth, local insurance market, laws of foreign insurance company entry, Taiwanese enterprise investment is also presented in the study. In order to study Multination Enterprise & Overseas Market Entry Model, Mitsui Sumitomo Insurance Group is taken as a model to analyze how the conservative non-life Japanese insurance company expand their international business and write local accounts by merging to achieve their global perspective. By the analysis, we can find that Taiwan non-life insurance companies shall utilize their advantage and resource to explore their strategy in different countries. Basically, they shall center on market instead of cost when they build global strategy.

In 2001 the Gas Exporting Countries Forum (GECF) was created by some of the world’s leading natural gas producing and exporting countries in order to promote their mutual interests through cooperation, in particular with regard to extracting the maximum value from their natural gas exports. My core research question is: Does cooperation among GECF member countries explain those exporters’ market power in highly import-dependent natural gas consuming countries? To determine the influence of the GECF’s cooperative actions and policies, I study the GECF’s cooperative behaviour and measure the role of (collusive) producer conduct in terms of its contribution to achieving the main GECF objective: attaining gas prices that are measurably above the cost of production and hence help producers earn significant economic rents. I employ a variety of methods from the international relations literature on cooperation and cartelisation, collective action theory and an economic measurement model in three case studies. I find that cooperation among GECF members partly explains their market power in a number of import-dependent gas markets. This is so despite the GECF’s weak degree of institutionalisation. The reasons for the GECF’s influence on effective cooperative results are: first, conducive structural conditions in many gas importing markets favouring cartelisation; second, GECF members use methods such as artificial market entry barriers (e.g. long-term term contracts negotiated in a non-transparent way) to secure their market power and third, the GECF faces less severe internal procedural challenges that plague other cartels such as collective action problems, especially cheating. Cooperation among GECF exporters hence contributes to high(er) prices of natural gas. This causes economic inefficiencies and a transfer of wealth—and political power—from gas consumers to producers. It also hinders climate change mitigation as cleanerburning gas remains too expensive to replace ‘dirty’ coal in power generation.

Background: Companies always look for opportunities to expand their businesses internationally as it is the way for them to grow beyond its current status. Nowadays, emerging markets seem to be very attractive in terms of economic growth. Thus, there is a tendency towards foreign direct investment inflows to emerging market economies. However, these markets can be very risky and there is no guarantee of success. Companies would have to be ready to face challenges and obstacles related to the unfamiliar environment. They would have to deal with the internal confrontation of whether to accept or reject the local rules of the game as well as to face difficulties in terms of maintaining a high standard of business ethics and promoting best corporate governance practices. Overall, the conditions of these markets can negatively affect the ethical behaviour of established foreign companies which in turn can negatively affect the reputation and brand value of these companies.  This paper describes and analyzes the above issues through a case study of two Swedish companies in the market of Kazakhstan: Tele2 and TeliaSonera. Purpose: The aim of this study is to analyze the effects of emerging market economy conditions of Kazakhstan on companies control structure or code of conduct, specifically how they can handle the internal confrontation and maintain a high standard of business ethics and corporate governance practices. Therefore, the tasks were also set to describe and analyze the entry process of two Swedish telecom companies into the market of Kazakhstan in order to improve the understanding of Swedish companies’ preparations, strategy of entry and operations when entering an emerging market of Kazakhstan. Methodology: The research thesis is based on the case study approach which uses a qualitative method to obtain the necessary data. Primary data was collected through interviews with the above mentioned two Swedish telecom companies in Kazakhstan. Secondary data was collected from e-sources. Findings/ Conclusions: In this research, I found that the best entry strategy for entering Kazakhstan is to form a joint-venture with the local partner, but if the company had an earlier experience in similar markets, then the acquisition strategy can be chosen. With regard to the ethical issues, factors such as a weak legal framework, a high level of corruption, poor corporate governance and cultural differences between Sweden and Kazakhstan as well as individual factors of all stakeholders including the manager may have a negative effect on the ethical behaviour of Swedish companies entering and operating in Kazakhstan. It is revealed in this study that Swedish companies manage to confront ethical dilemmas by choosing to “go at it alone”. To be able to confront these issues, companies should set their own bar for how to act as ethically and responsibly. Also, they should ensure the enforcement of codes of conduct, corporate governance, ethics training, ethical role model of top management and whistle-blowers policy.

In the wake of globalization, an increasing amount of firms must consider internationalization strategies to remain competitive. The strategic decision of where to expand is complex by nature. This is particularly true for retailers, and despite this being generally accepted, relatively little is in fact known about retailers ́ choice of foreign markets. Hence, this study investigates international market selection (IMS) strategies of Swedish retailers with global operations. The purpose of this study is twofold; first, to explore which criteria Swedish retailers use upon making international market selection decisions and investigate the relative importance among these criteria. Second, to assess the possibilities of creating a weighted IMS model for retailers, which can be use as guidance for marketing practitioners. The research questions which will be answered are: How do Swedish international retailers select foreign markets? What are the possibilities of creating a weighted IMS model for retailers? The study embraces a qualitative strategy with an exploratory research approach and a multiple case study design. Through extensive literature review, a conceptual framework is constructed, and subsequently developed, post gaining insight in practitioners’ reasoning. The empirical data was gathered through interviews with managers of Swedish retailers with international presence, as well as strategy consultants who routinely work with strategy conformation for Swedish retailers. Our findings show that criteria which influence IMS decisions among Swedish retailers are quite similar among firms and can be arranged under three main categories; market attractiveness, psychic distance and internal factors. Moreover, as a result of the empirical findings, we suggest previous IMS research lack one important factor which influences the IMS decisions, namely “gut-feeling”/coincidence. The relative importance among factors proved to vary among firms. Consequently, four concepts aiming at explaining the variations were developed. The four concepts include firm size, firm objective, industry of the firm, and ownership structure. Finally, with support from respondents, we arrived at a conclusion suggesting that construction of a weighted IMS model for all types of retailers is unfeasible. However, if the scope is limited to only include firms of similar characteristics as proposed by the four concepts, such model could potentially yield solid validity.

The food and beverage industry in Taiwan is becoming increasingly competitive. Companies have therefore been trying to expand their operations abroad to different countries, both emerging and developed economies. How the companies expand and operate abroad is a challenging issue faced by every company that tries to enter foreign countries. This research starts out from the practitioners’ perspectives, and addresses critical management issues. The problems of international expansion are dynamic and fairly complicated due to the fast-changing business environment, which means practical decision rules are valuable. The study tackles this issue by attempting to offer decision rules on three research questions. They include the influence factors on the selection of foreign market entry mode, the mechanism of capturing growth and avoid huge losses and business model innovation in foreign markets. This research discovers entry mode choice should be accompanied by considering the joint effect of influence factors. And at point of entry, adopting real option perspective leads to better performance in the foreign market because it captures growth opportunities. Furthermore, adjusting the key processes in the business model helps companies realize more efficient operations and in some case, leads to better subsequent performance after entering the foreign country.