Abstract
Using a unique dataset of Chinese listed firms, this paper examines the determinants of the internationalization strategies of firms in emerging markets from a strategic management perspective. We report that the degree and scope of internationalization are jointly determined by domestic industrial and geographic diversification, and top management teams (TMTs)' political capital and international experiences. Our findings also show that TMTs' international experiences strengthen, whereas TMTs' political capital weakens, the impact of competitive advantages derived from domestic diversification on firms' international diversification.