Select research activities
Emerging Multinationals Research Network (EMRN)
The Emerging Multinationals Research Network (EMRN) is a collaboration initiative involving the Emerging Markets Institute and the School of Economics, Business and Accounting of Universidade de São Paulo (FEA-USP, Brazil), EGADE Business School – Tecnológico de Monterrey (Mexico), Universidad de los Andes School of Management(Colombia), Universidad de San Andres (Argentina), and Escola Superior de Propaganda e Marketing (Brazil).
The network aims to create and support academic research outputs about topics related to emerging markets economies, multinationals and international business.
Transnational companies from Latin America and China, a comparative analysis.
A joint research project between the Center for China-Latin America Management Studies, School of Economics and Management, Tsinghua University and the CANIZARES CENTER, SC Johnson Graduate School of Management, Cornell University, financed by the CAF, Development Bank of Latin America, a one-year research project.
“I enjoyed learning about how governance affects investments in different markets and how many institutional investors require stronger governance in their portfolio companies and investments.”
– Luis Fernando Nares Jaramillo, MBA ’22
Emerging Markets Fellow
EMI D-ESG Framework Series
The EMI D-ESG Country Ranking Framework is an innovative system designed to evaluate emerging economies by integrating economic growth, environmental, social and governance (ESG) factors. Its key objectives are:
- Establishing a comprehensive rating system for emerging economies based on economic growth and ESG variables.
- Measuring a country’s progress while benchmarking it against its peer group.
- Creating a user-friendly and transparent framework.
Developed by Cañizares Center faculty and staff, this framework represents an evolution of the widely recognized ESG model by incorporating an additional crucial dimension—“D.” The Emerging Markets Economic Growth and ESG (EMI D-ESG) Framework aims to help emerging markets achieve sustainable development by balancing economic growth with ESG principles.
Published papers and chapters
In Search of an ESG Framework for Emerging Markets. What about Social Challenges? The Case of Nigeria, India and Indonesia
Building on the discussion in ‘In Search of an ESG Framework for Emerging Markets,’ this paper delves into the unique social challenges faced by Emerging Market Economies. It emphasizes the importance of considering social development when evaluating and comparing the performance of these economies, highlighting key initiatives in India, Indonesia, and Nigeria.
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In Search of an ESG Framework for Emerging Markets. What about growth?
As the climate crisis and societal issues like inequality intensify, questions are being raised about the need to focus more on environmental and social concerns as opposed to a single-minded obsession with growth. However, this perspective is hard to accept for many emerging markets where growth matters. But neglecting the environmental and societal concerns is not an option either. There is indeed a need to find an alternative metrics for measuring progress in the Emerging Countries.
The answer of Cornell’s Emerging Markets Institute at the Cornell SC Johnson College of Business is to add a “D” to the very important Environmental, Social and Governance (ESG) acronym. For the past two years, EMI team has been dedicated to developing a unique framework known as the Emerging Markets Economic Growth and ESG (EMI D-ESG) Framework which aims to measure sustainable development in emerging markets by providing guidelines on balancing Economic Growth and ESG (Environmental, Social, and Governance) factors.This working paper discusses the EMI D-ESG Framework explaining the approach and how it is designed for the Emerging Markets.
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In search of a D-ESG Framework for Emerging Markets. What about Environment?
This paper focuses on the importance of an environmental focus for emerging markets, particularly in the context of Latin America. This paper aims to underscore the imperative of environmental factors when assessing and comparing the performance of these economies. It includes an analysis of greenhouse gas emissions, renewable energy adoption, biodiversity protection, and air quality. Additionally, the paper provides valuable insights for investors, policymakers, and other stakeholders interested in the region’s sustainable development. It highlights successful initiatives in Brazil, Mexico, Colombia and Chile and the importance of active branding to enhance the region’s environmental reputation.
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