O ambiente político e institucional na internacionalização de multinacionais brasileiras em mercados emergentes: um estudo de caso sobre a Artecola na Argentina, no México e na China

Abstract

The objective of this work is to analyse the interference of political and institutional environment of Argentina, Mexico and China in outside direct investment (FDI) of the Artecola company in these countries. For achieving this goal, the study sought to describe the entry modes used by Artecola in those countries, its perception about the political and institutional environment of the referred countries, as well as the interference perceived by the company because of these environments in FDI. The analysis also includes the understanding of the company’s experience in Brazil about the adaptation process in the destination countries. To achieve this aim, the study visited the main theoretical constructs able to support the analysis. This work was performed using a qualitative descriptive study using a single case study. The analysis was based on the documental data collect and in depth interviews. According to the analysis, it was found out that Argentina and Mexico’s institutional environments directly interfered in the operation, especially with regard to the country collection system and environmental and social institutions. The interferences demanded strategic and operational flexibility of the company to adapt to the environment. Regarding the political environments of these countries, the interference was considered positive and was not unexpected by Artecola. Regarding China, internationalization was only carried forward due to the joint venture formed with the partner Orisol, which helped to reduce the perceived risk a priori. Artecola’s adaptation capacity is attributed to its experience in Brazil, where it acted in volatile political environments and institutional uncertainties.