“…For example, resourcebased theory identifies how resource needs propel EMFs to go abroad (Deng, 2009;Yamakawa, Khavul, Peng, & Deeds, 2013), but it lacks discussion on the international processes of EMFs in their spatial contexts. In addition, micro-based behaviors of agencies tend to be absent, even though research on micro-level practice can make convincing explanations for macrophenomena such as the processes behind the catch-up strategy of EMFs and their acquisitions of DMFs (Abdelnour, Hasselbladh, & Kallinikos, 2017;Zheng, Wei, Zhang, & Yang, 2016). The springboard perspective (Luo & Tung, 2007 integrates learning with resource-based arguments, but it faces challenges of empirical verification and causal identification (Ramamurti, 2012).…”