Converting Country-Specific Advantages into Firm-Specific Advantages in Emerging Markets

Scholars have suggested that the origins of firm-specific advantages (FSAs) are the local environment in which a firm is based. However the extant literature has not explained how to convert country-specific advantages (CSAs) in the local environment into FSAs. Drawing on the resource-based view of the firm, in this research we develop an overarching framework explaining how local firms in emerging markets first access CSAs, and then transform CSAs into unique FSAs. We thus shed light on central issues in the dynamic theory of strategy