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The purpose of this paper is to address the internationalization of Russian multinationals by critically challenging existing assumptions about “springboard” foreign market selection by emerging market firms.

The authors studied foreign market selection decisions for 497 international merger and acquisition (M&A) and joint venture (JV) deals completed by Russian multinational enterprises (MNEs) between 1997 and 2009. The statistical model tests the impact of the geographic, political and economic distances of the host country from Russia on Russian MNEs' foreign market selection decisions.

Contrary to existing assumptions, the host country's geographic closeness to Russia, and its being an ex‐USSR republic or a tax haven, positively affected the country's probability of attracting an M&A or JV deal by a Russian MNE, while the similar level of economic development did not significantly influence the MNEs' foreign market selection decisions. The patterns of significance among the explanatory variables vary for Russian MNEs operating in the natural resources industries.

Further studies may extend the observation period, enlarge the database with Greenfield and export deals by Russian MNEs, and add cross‐country cultural distances to the explanatory variables.

Russian managers should consider the “distances” that might influence firms' foreign investment decisions. This paper also allows host country governments willing to formulate policies aimed at the attraction of Russian outward foreign direct investments to obtain a better understanding of Russian MNEs' international strategies.

One of the few quantitative studies on the topic, this research suggests that Russian MNEs choose their own means of foreign market selection, combining gradual and leapfrog approaches to internationalization.

This study aims to explore critical success factors contributing to the selection of beneficial foreign markets by Arabian international firms.

Multiple case study method was adopted in the study, and thus, two rich-information comparative case studies were purposefully selected from Arabian large firms. Additionally, seven international market selection (IMS) decisions were examined through relying on personal interviews and archival data, and field notes as secondary data resources. Two main stages of analysis were undertaken, i.e. within and cross-case analyses.

The results showed four critical factors contributing to the selection of beneficial international markets by Arabian firms, i.e. international business experience of the selected management team, the market knowledge about the potential international markets, in-house and external consultations with international business experts and identification of a trustworthy and internationally experienced manager for the international operation.

The results have important implications to business managers by improving their foreign market selection behavior. Further, the research’s findings can assist less-experienced firms, willing to internationalize their businesses, in enhancing their decision-making process to arrive at beneficial country for their international operations.

The research findings provide significant theoretical contribution to literature review on the internationalization process of firms through addressing critical success factors in IMS decision process. Further, it provides significant methodological contributions in relation to the effectiveness of the case study approach in capturing elements of the IMS process.

This study aims to examine the international market selection process of entrepreneurs operating internationally.

Four small and medium-sized comparative and rich-information case studies were purposefully selected from among Australian and Arabian firms. Data were collected via in-depth personal interviews, follow-up interviews and questionnaire instrument.

The results revealed that entrepreneurs used a four-stage systematic decision-making process to attain profitable foreign market choices. The decision process was influenced by cognitive boundaries as entrepreneurs relied on the availability experiential, anchoring and adjustment heuristic.

The research’s findings and the proposed decision model will, significantly, assist entrepreneurs, willing to expand internationally, in enhancing their decision-making to attain profitable foreign market choices. Further, it provides benefits to foreign investment policymakers in host countries by assisting them to attract more inward foreign direct investments, and, accordingly, enhance the economic and social development movement in their countries.

This study provides a significant theoretical contribution to the literature on the internationalization process of entrepreneurs and small- and medium-sized enterprises through developing a decision model for selecting and entering foreign markets by entrepreneurs in a cross-country context. Further, the study provides significant methodological contributions with regard to the effectiveness of the qualitative case study method in capturing elements of the foreign market selection process.

The purpose of this paper is to explore how firms that do both sourcing and selling choose which countries to source from and to which countries to sell. It also looked at the role of competitive strategy, vertical integration, and foreign involvement in the decision‐making.

A survey instrument that was designed based on personal interviews with 20 German garment industry executives was administered to 750 German, Austrian and Swiss garment manufacturers. In total, 93 questionnaires were usable. Factor analysis was employed in evaluating the data.

The results indicate that firms that both source and sell at the same time have more complex decision making than normative models suggest. These decisions tend not to be isolated decisions. The factors that are considered in sourcing are different in the decision as to where to sell. Foreign involvement, competitive strategy, and vertical integration influence the firms' decision making.

The study is exploratory in nature and it is limited in its application. Moreover, the disproportionately large number of German respondents may skew the results. In addition, the total number of respondents is relatively small. The study may also suffer from any or all of the following deficiencies: lack of reliability and validity test, having only one executive per firm respond to the survey, not considering country‐specific characteristics, and lack of control for the market‐entry strategy and market size variables.

Most research in this area focuses on either the sourcing or the selling side. This study looks at how sourcing and selling decisions are made by firms engaged in both activities. Additionally, the roles of competitive strategy, vertical integration, and foreign involvement in relation to the decision making are investigated.

This research examines factors that affect media selection decisions for foreign markets as perceived by advertising executives of U.S. multinational corporations. The main objective is to determine whether cultural factors play a significant role in the selection process. The study investigates the opinions of 84 advertising executives of U.S. consumer durable product manufacturers. Findings reveal that managers place more importance on general factors (type of product, target audience, budget size, cost efficiency, reach and frequency, and competition) than they place on specific non‐domestic factors (media availability, language diversity, legal constraints, level of economy, literacy, and cultural considerations). Findings also suggest that executives tend to be more involved in establishing objectives and budgets than in creative strategy and media selection.

The purpose of this paper is to identify patterns for the intra-market expansion of international branded retailers on a continent-sized emerging market using the network approach.

A multiple-case study design of four foreign branded retailers that have expanded onto regional markets in Brazil is used.

The intra-market expansion process shares similarities with the cross-market expansion process; is influenced by the relationships of foreign branded retailers with local competitors and shopping mall firms; and market selection, mode of operation and store location decisions are interrelated and conjointly taken, instead of forming a three-stage process. Additionally, the importance of relationships with host market shopping malls firms is highlighted.

This paper advances a conceptual model of the intra-market expansion process, which comprises a system of interrelated decisions – (regional) market selection, mode of operation and store location – influenced by several network effects.

Managers of foreign branded retail suffer from liability of foreignness when undertaking intra-market expansion. Although Brazil is a large market, the retail community is highly connected because of managers’ personal relationships. Brazilian shopping malls dominate suitable store locations, and represent a valuable source of knowledge and resources for the foreign branded retailer.

This paper addresses two under-researched aspects of international retail: branded retailers – manufacturers that develop brands and operate stores – and intra-market expansion (i.e. to geographic regions of a given foreign country). It also discusses the challenges of intra-market expansion in continent-sized emerging markets, with considerable regional diversity (culture, infrastructure and institutions).

Traditional market selection analysis relies on purely macroeconomic and political factors and fails to account for an emerging market's dynamism and future potential. The objective of this paper is to present a tool composed of four criteria specific to the preliminary assessment of emerging markets (EM) as international expansion opportunities.

Based on the literature pointing out the limitations of international market selection (IMS) models and the need for a specialized approach, additional criteria are introduced to assess emerging market potential. Review of prior work on internationalization, EM and market selection provided the rationale for the selected criteria. Using secondary data and primary data from a sample of 500, the proposed criteria are applied to the assessment of an emerging market for US apparel specialty retailers.

Assessment of the emerging market with the criteria introduced revealed growth and sourcing opportunities that might otherwise have been overlooked. Case application exposed strong future market potential, manageable level of cultural distance, supportive and developing local industry and positive customer receptiveness for foreign products and business. The findings illustrate the need to improve and supplement assessment criteria of traditional analysis for EM.

Follow‐up studies validating, integrating and determining the relative importance of the criteria introduced will contribute to the development of an assessment model for EM.

A useful complementary tool for international marketers.

The paper develops the body of knowledge on IMS by addressing the shortcomings of traditional analysis and expands the two prior studies on emerging market potential.

This study addresses foreign markets selection decisions by Russian mobile telecommunications operators and the impact of top management team composition on the degree of firms’ internationalization.

The qualitative exploratory study analyzed 24 foreign market entry decisions and the composition of the top management team of the two leading Russian mobile telecommunications operators, VimpelCom and Mobile Telesystems (MTS/AFK Sistema).

Russian mobile telecommunications operators adopted a gradual approach to foreign market selection, as the study revealed the positive impact of the target market’s geographic proximity to Russia on the investment decision. The international background of the top management team was positively related to the increasing distance of the selected foreign markets.

Further studies may include quantitative evaluation of investment decisions by mobile telecommunications operators from other emerging-market firms, as well as a longer observation period and investment decisions by firms operating in other industries.

Russian and other emerging-market firms should evaluate the importance of the top management team composition and international experience prior to initiation of the internationalization process.

Russian multinationals represent a relatively understudied phenomenon, despite the importance of outward foreign direct investments from Russia among other emerging-market firms.

Despite the increasing volume of scholarly work in international advertising, media selection has received very little attention. This study seeks to address three fundamental issues in media selection for non‐domestic markets: the relative importance of cultural factors, the relationships between organization structure, and the relative weight that executives place on cultural and non‐cultural factors in their media selection, and the relationships between cultural orientations of advertising executives and their perceptions of specific non‐domestic factors of media selection.

A mail survey of executives for US consumer durable manufacturers operating internationally was conducted. The sample involved managers responsible for media selection in 106 firms listed in the Fortune directory of the 500 largest industrial multinational corporations (MNCs). Three waves of the same questionnaire were sent. Of the selected executives, 84 returned the questionnaire, making the response rate 79.25 percent.

The findings reveal that advertising executives of US MNCs place more importance on general environmental factors (type of product, target market, budget size, cost efficiency, reach and frequency, and competition) than on specific non‐ domestic factors (media availability, language diversity, legal constraints, level of economy, literacy and cultural considerations). Furthermore, managers in centralized decision firms and managers in decentralized decision firms do not differ significantly in their assessment of the relative importance of general and specific non‐domestic factors. However, non‐culturally oriented managers in contrast to their culturally oriented counterparts place greater importance on media availability when determining and executing media‐selection decisions. The surveyed executives also tend to be more involved in establishing objectives and setting budgets than in designing creative strategies and selecting specific media for international advertising campaigns.

Although localized and globalized marketing campaigns have steadily increased in the last 20 years, very few studies have examined MNC advertising managers' views about media selection. The research adds new insights to the understanding of this critical‐decision process.

The purpose of this study is to examine the decision-making process for entrepreneurial firms when entering foreign markets and how and why they entered those markets.

A nascent theory in entrepreneurship called effectuation is combined with internationalization process theory as the conceptual framework to study decision-making under uncertainty. The central concept in both these theories is relationships and how they can be used to gain knowledge and thus reduce uncertainty and in the case of effectuation to co-create opportunities to enter foreign markets. The research design involves a multiple case study of software firms from Finland and New Zealand.

It was found that entrepreneurs differentiate between foreign market selection and foreign market entry during their internationalization process, potentially using different decision-making processes in them. They tend to interweave effectuation and causation logics as substitutes in their decision-making. Uncertainty during foreign market entry is not always a barrier because it can provide opportunities depending on the logic used. In addition, there is evidence that entrepreneurs who have existing relationships in foreign markets tend to use effectuation to select and enter foreign markets.

This paper transposes effectuation from its original field of entrepreneurship research to the context of internationalizing entrepreneurial firms. Consequently, it contributes toward understanding the decision-making process for selecting and entering foreign markets.