競爭優勢定義為特點,特性或一個組織擁有的機會,這將使它比競爭對手更有吸引力鄧寧Ownership-location-internalization理論聲稱為了海外投資成功,公司必須有所有權優勢,可以補償設置的附加成本和操作一個外國值添加操作為例,發達國家跨國公司獲得的競爭優勢大多來自于獨特的產品和工藝，以及高度認可的品牌。來自發達國家的跨國公司通常投資于發展中國家受益于低勞動力成本和其他成本優勢,然而,他們沒有在本國魏和阿龍等指出,許多學者質疑奧利理論通過強調,來自新興國家的跨國公司遲到者的缺乏這樣的所有權優勢在海外投資,而不是利用國外現有的市場資源和資產,新興國家的跨國公司正致力于開發新的資源、技能和知識，以獲得他們所需要的競爭優勢。Athreye和Kapur甚至得出結論，中國的跨國公司并不試圖利用競爭優勢，而是通過在全球市場中學習和運作來解決和減少競爭劣勢。另一種理論觀點是聯系、杠桿和學習(LLL)模型。該模型展示了新興跨國公司如何利用他們的FDIs和全球聯系來利用他們的資源，同時了解新的競爭優勢來源，并通過LLL路徑成為國際競爭者。此外，企業的競爭優勢在很大程度上依賴于其“吸收能力”，即識別、吸收和利用外部知識的能力(Cohen和Levinthal 1990)。由于來自發達國家的外資流入，這些跨國公司產生了一定程度的知識或技術溢出，使中國跨國公司能夠學習并將新知識應用到其運營中(Kotabe和Kothari 2016;優素福2003;邁耶2004)。Niosi和Tschang(2009)指出，通過吸收和利用新知識，中國跨國公司已經逐漸進入包括高科技產品和軟件在內的更高水平的生產。此外，中國跨國公司積極參與與地方政府、公司和大學的網絡活動，以利用來自本土和東道國的新知識(Peng 2012)。例如，“華人”業務是一貫的合作和相互融合。新來者可以學習、跟隨和與現有的人合作。
Competitive advantage is defined as a characteristic, feature or opportunity that an organisation possesses that will make it more attractive than its competitors Dunning’s Ownership-location-internalization theory claimed that in order to invest overseas successfully, the companies must have some ownership advantages that can compensate the additional cost of setting up and operating a foreign value adding operation For instance, the competitive advantages that developed country MNEs acquired are mostly derived from unique products and processes as well as highly recognised brands. MNESs from developed countries normally invested in developing countries to benefit from low cost labour and other cost advantages which they don’t have in their home countries However, Wei and Alon et al pointed out that many scholars have challenged OLI theory by highlighting that the latecomer MNEs from emerging countries are lack of such ownership advantages before they invest overseas, instead of exploiting foreign existing market resources and assets, MNEs from emerging countries are aiming to explore new resources, skills and knowledge to gain their needed competitive advantages. Athreye and Kapur even elicited that Chinese MNEs do not attempt to exploit competitive advantages, but to address and diminish their competitive disadvantages by learning and operating in global markets.Another theoretical view is the linkage, leverage and learning (LLL) model. This model demonstrated how new comer MNEs use their FDIs and global connections to leverage their resources, and simultaneously to learn about new sources of competitive advantages and to become international competitors through the LLL paths . Moreover, a firm’s competitive advantages heavily rely on its “absorptive capacity” which specified the ability to recognise, assimilate and exploit external knowledge (Cohen and Levinthal 1990). Thanks to the inward FDIs from developed countries, those MNEs generated certain level of knowledge or technology spillovers, which allow Chinese MNEs to learn and implement the new knowledge into their operations (Kotabe and Kothari 2016; Yusuf 2003; Meyer 2004). Niosi and Tschang (2009) pointed out that Chinese MNEs has gradually worked its way up into higher-level production that includes high technology products and software by absorbing and utilizing new knowledge. Furthermore, Chinese MNEs proactively engage in networking activities with local governments, firms and universities to leverage new knowledge from both home and host countries (Peng 2012). For instance, the “ethnic Chinese” business are consistently cooperate and integrate with each other. The new comers can learn, follow and cooperate with the existing ones.