Introduction Peter J. Williamson, Ravi Ramamurti, Afonso Fleury and Maria Tereza Leme Fleury; Part I. Innovation and Competitive Advantage: 1. Innovation by Brazilian EMNEs Moacir de Miranda Oliveira Junior, Felipe Mendes Borini and Afonso Fleury; 2. Innovation by Russian EMNEs Sergey Filippov and Alexander Settles; 3. Innovation by Indian EMNEs Nikhil Celly, Jaideep Prabhu and Venkat Subramanian; 4. Innovation by Chinese EMNEs Peter J. Williamson and Eden Yin; Commentaries on Part I: i. The contribution of innovation to EMNEs' competitive advantage Bridgette Sullivan-Taylor; ii. Innovation in emerging markets and the rise of emerging market MNEs Ram Mudambi; Part II. Value-Chain Configuration and Competitive Advantage: 5. Value-chain configuration of Brazilian EMNEs Afonso Fleury, Maria Tereza Leme Fleury and Felipe Mendes Borini; 6. Value-chain configurations of Russian EMNEs Valery S. Katkalo and Andrey G. Medvedev; 7. Value-chain configurations of Indian EMNEs Suma Athreye; 8. Value-chain configurations of Chinese EMNEs Kaimei Wang and Yongjiang Shi; Commentaries on Part II: i. How emerging market multinational companies upgrade capabilities using value-chain configuration in advanced economies Alvaro Cuervo-Cazurra; ii. Value-chain configurations of emerging country multinationals Jagjit Singh Srai; Part III. Mergers and Acquisitions and Competitive Advantage: 9. Cross-border M&A and competitive advantage of Brazilian EMNEs Alvaro B. Cyrino and Erika P. Barcellos; 10. Cross-border M&A and competitive advantage of Russian EMNEs Kalman Kalotay and Andrei Panibratov; 11. Cross-border M&A and competitive advantage of Indian EMNEs Ravi Ramamurti; 12. Cross-border M&A and competitive advantage of Chinese EMNEs Peter J. Williamson and Anand P. Raman; Commentaries on Part III: i. Cross-border M&A by the new multinationals: different reasons to 'go global' Simon Collinson; ii. Cross-border acquisitions by EMNEs Ravi Sarathy; Conclusion: rethinking the implications of EMNEs' rise Peter J. Williamson, Ravi Ramamurti, Afonso Fleury and Maria Tereza Leme Fleury; References; Index.