The thesis is devoted to a comprehensive study of theoretical and practical aspects of creating and sustaining competitive advantages of BRICS countries' transnational corporations in global markets. In the thesis the essence of dynamic competitive advantages is revealed; conditions, factors and mechanism of their creation has been investigated. Significant attention is devoted to the research and analysis of BRICS countries' TNCs peculiarities and their competitiveness. The expansion motives in different stages of transnationalization process are identified. The efficacy of innovative business model through the concept of creating and capturing value is evaluated. The strategic directions of BRICS countries and their priority economic sectors are summarized. Expansion strategies of transnational corporations and their impact on global competitiveness are disclosed. The decade following the turn of the new millennium has been characterized by the emergence of the BRICS countries-Brazil, the Russian Federation, India, China and South Africa-which have come to account for a significant share of economic growth, demand expansion, industrial production and wealth creation in today's world. The success of these regional economic powers in achieving sustained economic growth and poverty reduction has become a reference point both for developing countries to emulate and for industrialized countries to regain economic dynamism. The BRICS countries have a growing importance to the world economy and are characterized by a significant level of internationalization (with inward and outward FDI) and strong presence of transnational corporations. Global challenges and increased competition for tangible and intangible resources lead to the global rearrangement of competitive forces. The BRICS countries' TNCs enjoy the next competitive advantages: prediction and understanding of consumer needs; privileged access to home country resources and profitable market segments; ability to work with institutional and governmental agencies within national markets; ultra low production costs; ability to operate effectively and adapt to adverse market conditions; pioneers advantages; disruptive innovation; supply chain configuration; focus on mergers and acquisitions. In the thesis author confirmed the hypothesis that the TNCs were not a homogeneous group, as the level of development and ways of internationalization, industry and markets, competitive advantages vary quite significantly. On the basis of benchmarking and comparative analysis of BRICS countries' TNCs it is proved that this group of emerging market multinationals masters unique management and organizational characteristics, possesses the ability to synergistically combine inputs, capital flows, qualified staff, innovative solutions with the aim of maximizing profits and achieve sustainable growth. High competitive position of transnational corporations from BRICS countries can be explained due to an effective expansion strategies into global markets. A key strategic goal of TNCs is gaining increasing competitive positions in profitable segments of global markets through the implementation of leading innovation policy and system management effectiveness. The selection of expansion strategies is provided through the evaluation of micro, macro determinants, the speed of expansion to new markets, analysis of cross-cultural differences and aims to consolidate the leadership imperatives in production, finance, science and technology areas. In thesis author has identified conceptual model of alternative expansion strategies for TNCs (aggregation, arbitration, adaptation, affiliation) that unlike existing ones considers not only cultural, political, geographic and economic distance between countries but also synergy effect from using and overcoming differences. It's proved by the author's econometric model that country's global competitiveness is determined by the correlation dependence between GDP and the number of innovation TNCs, expenditures on R&D, research personnel, value added of industrial sectors. It allows to consider firstly the impact of financial, human, industrial and innovation indicators of the leading multinationals in the country's GDP, and secondly, the convergence of BRICS countries in terms of competitiveness. In thesis it has been proved that the structural transformation of the BRICS's economies has differed in terms of direction, speed and economic outcomes. While the manufacturing sector has been the engine of growth, employment generation and poverty reduction in China, services have played a more important role in India, and recently in Brazil. Like the Russian Federation and South Africa, Brazil has also made use of its abundant natural resources to support its growth. Sustaining the pace of economic growth in the years to come will require even the stronger role for manufacturing in all BRICS countries.
