Triple-loop springboarding: financialization and new forms of emerging economy educational international businesses

Hu, Helen ORCID: 0000-0002-5484-2508, Bryson, John R. and Beaverstock, Jonathan V. (2025) Triple-loop springboarding: financialization and new forms of emerging economy educational international businesses. International Business Review. ISSN 0969-5931 (In Press)

Text (IBR paper 13 Feb 2025) - Accepted Version Pending embargo until 1 January 2100. Available under License Creative Commons Attribution. Download (953kB)

Abstract

This paper examines financialization as a motivation for emerging economy non-financial companies to access, localize, and financialize firm-specific assets (FSAs) obtained from developed market economy enterprises (DMEs) through a triple-loop springboarding process. An abductive methodology was employed, combining both deductive and inductive approaches, and involving five intensive case studies derived from 98 semi-structured interviews focused on the internationalization of emerging market multinational enterprises (EMNEs) in the educational sector. This study identified a triple-loop springboarding process underpinning the internationalization of EMNEs. The first loop involves a financialization motivation, with inward internationalization to form an investment vehicle; the second centers on localization to establish a simulacrum in an emerging economy setting; and the third encompasses outward internationalization, incorporating localization and the creation of additional simulacra in both emerging and developed economy locations. Our findings make an important contribution to the IB literature by highlighting the importance of localization within springboarding theory, as well as the intersections between financialization and localization processes with springboarding—processes notably absent in the existing springboard literature.

Item Type:	Article
Additional Information:	© 2025 The Author(s)
Divisions:	Management
Subjects:	H Social Sciences > HG Finance H Social Sciences > HB Economic Theory L Education
Date Deposited:	13 Feb 2025 17:27
Last Modified:	13 Feb 2025 17:30
URI:	http://eprints.lse.ac.uk/id/eprint/127307

Actions (login required)

View Item