The internationalization process (IP) model argues that companies when venturing abroad build on the resources, capabilities, and connections they have built up at home, especially in the early phases of their internationalization. So, companies that are not exposed to BoP markets domestically, are also less likely to go for such markets elsewhere. However, tit would be consistent with the IP model to predict that companies that serve BoP markets at home, would also do so as they expand internationally.

More generally on the applicability of established theoretical frameworks to the internationalization of emerging market companies, I recommend taking a look at the following articles:

Guillen and Garcia-Canal (2009) "The American model of the multinational firm and the "new" multinationals from emerging economies". Academy of Management Perspectives, 23(2): 23-35.

Meyer and Peng (2016). "Theoretical foundations of emerging economy business research". Journal of International Business Studies, 47(1): 3-22.

Good luck on your research!

Dear Ardian,

Indeed, the literature is vast with regards to internationalization process (i.e Homer's, Dunnings', Uppsala, CAGE, to name a few), but yet there is no consensus, as we live in a very diverse world. Some researches would even argue certain MNEs are born global. Then there is the field of BOP, which as argued by Heng Lou earlier, is becoming a hot topic, specially in frontier markets.

I'm attaching an article I wrote on BOP for Financial Nigeria magazine, which I hope can provide you with some insights. I'm also listing some interesting literature on IP that might be useful. Mind you, this listing is non inclusive, just a few references. There is a lot more on internationalization process out there that needs to be reviewed and sorted out.

Cheers,

MG