Competitive Advantages in a Hostile, Regulated Environment: Four Multinational Banks in India

Abstract International business literature has historically been divided between scholars exploring the local obstacles foreign firms face (thereby overlooking firms’ capacity to deploy advantages locally) and those examining internationalisation of firm-specific peculiarities context in which their advantages). We still do not completely understand process by multinational enterprises (MNEs) – especially service MNEs develop competitive relation host environment. Using a multiple-case study four banking subsidiaries India, this research aims explore variety deployed banks (MNBs) hostile, environment: Indian industry. This article’s main contribution is bridge gap obstacle-oriented advantage-oriented through an exploration comparison comprehensive set locally relevant MNBs studied. introduce concepts global anchoring make sense directionality subsidiaries’ advantages, we broad associations with commercial financial performance. conclude discussing three theoretical lenses, situated at intersection literatures, can potentially account for origins our sample, series propositions future research.