This study suggests a set of Causal Loop Diagram (CLD) of Causality Mechanism which integrates the matter of characteristics of emerging market and its expansion strategies. In order to make CLD more objective, all causalities are articulated from recent 55 studies (2000~2012) of SSCI Top Journals. This approach is valuable in that it is a first try to draw all the causalities from rigorous literature review regarding emerging market strategy. The 5 CLDs will show and clarify the strategies of how to expand into emerging market for MNCs. In sum, political activity and institutional void is a critical factor related to characteristics of emerging market, and CSV and cultural distance should be considered as a leverage point. For all this study`s contribution to clarify the causality of emerging market strategies with abundant literature review, the study has its limits in integrating and testing CLD.