This compares with percentages above 30 per cent just a couple of
years ago. Lower interest in NEMs might be related to recent re-shoring trends and their underlying factors: favorable production conditions in
developed economies and rising production and management costs in
distant overseas markets.On the other hand, this could also signal
better conditions for equity modes. In fact, after a difficult year on the
equity markets, the importance of M&As seems to have recovered, as
almost 30 per cent of respondents considered M&As an important mode
of entry in 2013, and this increases to 38 per cent of respondents who
considered M&As to be important by 2016. Greenfield and brownfield
investments maintained their relevance in TNCs’ internationalization
strategies with 30−40 per cent of TNCs rating them as important;
however, both modes lost some ground in importance compared with
previous years when these percentages were about 5 to 10 points
higher. Nevertheless, greenfield investments, as in the case of M&As,
are set to grow. On the other hand, brownfield projects are expected to
remain constant between 2013 and 2016. Similar to last year’s results,
exports seem to be the most preferred mode of entry, selected by 40
per cent of respondents as important in 2013 and set to increase in the
following years