As literature remains sparse regarding emerging African multinational corporations (EAMNCs), this article focuses on examining the key pull factors (i.e. host country macroeconomic specifications) influencing the foreign market selection of South African and Egyptian multinational corporations as a case study of EAMNCs. Based on estimation of Random Effect and Negative Binomial models, it has been found that the market size, resources endowment and proximity between home and host country are significant pull drivers of both Egyptian and South African MNCs.
As literature remains sparse regarding emerging African multinational corporations (EAMNCs), this article focuses on examining the key push factors (i.e. home country macroeconomic specifications) influencing the outward foreign direct investment flow from South Africa and Egypt. Based on dynamic panel data model estimation, the empirical research proves that trade openness, patent and the gross domestic product (GDP) and the GDP growth rate of South Africa and Egypt are dominant drivers of their outward foreign direct investment.
As emerging market multinational corporations (EMNCs) tend to remarkably expand their global presence, it is of the utmost importance to explore the salient attributes of such unfolding phenomenon. One of the key findings is that top EMNCs are displaying a leapfrogging internationalisation process. Moreover, natural resources related sectors, in particular energy, have been proven to dominate the non-financial industry structure of EMNCs. In addition, various interesting findings have been concluded by this article.