As Asian economies have become a driving force in the world economy, much attention has focused on Asian firms, especially those from emerging markets. This book presents a collection of articles that address the strengths and strategies of the rising Asian firms in the process of internationalization and the challenges they face in fulfilling the promise of an Asian century. As their home markets become increasingly open, these firms have developed rapidly based on a myriad of inward internationalization activities and risen quickly in the international market. However, the trajectory of their future is uncertain. Among the many problems challenging the rising Asian multinationals, several pressing issues warrant greater attention: How can they continue to innovate and move up the value chain? How will they overcome late-mover disadvantages and become viable players in the world market? How will they emerge from their home institutional environments and become global leaders?