Born global firms (BGs) in emerging markets differ in significant ways from those in developed countries and this study aims to comprehensively examine those differences. To do this, we conduct a systematic literature review that analyses 148 empirical research articles published during 2010–2023, highlighting how BGs from developed and emerging economies differ in terms of their firm and entrepreneurial characteristics, as well as their operating environments. We find that these differences shape the BG's disposition to distance, liabilities and risks, with BGs from emerging economies facing additional liabilities and demonstrating a greater tolerance for risk and distance compared with BGs from developed economies. This leads to particular outcomes with regard to the BG's strategic choice of host country and internationalization mode, as well as its performance. The paper concludes by suggesting pathways for future research.

中文翻译：

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解释新兴经济体和发达经济体诞生的全球企业之间国际化的差异：系统文献综述和前进方向


新兴市场的天生全球化企业 (BG) 与发达国家的企业存在显着差异，本研究旨在全面审视这些差异。为此，我们进行了系统的文献综述，分析了 2010 年至 2023 年期间发表的 148 篇实证研究文章，强调了发达经济体和新兴经济体的企业集团在企业和创业特征以及运营环境方面的差异。我们发现，这些差异影响了企业集团对距离、负债和风险的处置，新兴经济体的企业集团面临着额外的负债，并且与发达经济体的企业集团相比，对风险和距离的容忍度更高。这对集团东道国、国际化模式的战略选择和绩效产生特定的影响。该论文最后提出了未来研究的路径。