In this article, we are looking at why businesses support populism that may become a threat to its interests. To study this phenomenon, we investigate Finnish businesses that were threatened by strikes organized by left-wing populists in the 1920s and 1930s. The strikes were affecting especially international trade i.e., exporting and importing, and to mitigate this challenge, businesses sought cooperation with right-wing populists. However, the relationship between business and right-wing populists broke up eventually, first because some people associated with the populist movement were taking part in illegal actions and later completely when populists as a party started to appeal to working-class voters. This shows us that when business interests are threatened, they can seek support from populists, but when populists go too far or start to adopt ideas that are seen as harmful to the business, they start to oppose populists.

This conceptual paper aims to show firm’s evolution, in the Uppsala model fashion, can benefit from the dynamic capability of international business diplomacy. Dynamic capability is largely consistent with the Uppsala model, but the diplomatic angle that harnesses the trajectory of political and social changes is missing, hence proving an opportunity to discuss the importance of international business diplomacy to firms´ evolution. To advocate international business diplomacy plays a role in firms’ evolution, I bring facts showing that a change in the power relationship between sovereign states and MNEs led the latter to play state-like roles and assume socio-political responsibilities. I evidenced that the adoption of diplomacy and diplomatic dialogue became critical for MNEs to promote and defend their interests and overcome the absence of knowledge on foreign environments and the liability of foreignness. Limitations are due to the nature of conceptual papers themselves. They lack strong empirical evidence and are shaped by authors´ literature preferences. By bringing concepts from allied social science such as international business diplomacy into the international business domain, I step aside of inward-looking and self-referential trends. Moreover, I shed light on issues that are increasingly having profound impacts on society and firm strategies.

Strong nation brands may positively affect the conducts of business and attract investment to countries. Nation brands already exists in the minds of the consumers. However, different stakeholders and instruments may contribute to the creation of a nation brand which in turn may attract more visitors, investments, and businesses. Furthermore, corporate brands not only bring economic benefits to countries but also possess the potential to enhance the reputation of their country of origin, consequently contributing to its nation brand. This paper argues that corporate brands and other stakeholders contribute to the promotion of national culture and enhancement of nation brand from a bottom-up approach. Nowadays, not only governments and diplomats create a nation brand, but also other commercial and non-commercial stakeholders also collaborate. Through empirical evidence and a comprehensive examination of the photo exhibition Catrinas por el Mundo in Prague, this study sheds light on the role of photo exhibitions as an instrument of nation brand creation, exploring the participation of different stakeholders from a bottom-up approach, and evaluating the perceptions and attitudes of visitors towards Mexico’s nation brand.

The digital economy and technology advances – coupled with broader institutional changes – have prompted scholars to re-examine FDI patterns. A debate has emerged with respect to non-traditional market entry modes and firm international involvement in a changing world. We contend that it reveals a research gap with respect to option value creation by international entry, operation and involvement pathways in the knowledge economy. Therefore, we employ a real option theory (ROT) perspective to examine virtual presence, digital platforms or managed ecosystems, and innovation outposts. We discuss how non-traditional modes can entail MNE switching options and growth options in a dynamic world. We also include, for example, ‘closure’ options; exit, re-entry and de-internationalization options; servitization options; information options; and modularity options, as well as their valuation implications. In addition, we discuss how traditional and non-traditional modes contribute to the MNE real options portfolio by considering how a different type of correlation (level of redundancy within a firm’s existing knowledge stock) influences the incremental value of an option within a portfolio.

The international business literature remains largely silent on the internal organisational capacity needed by firms to develop internationally. One notable exception is the 360º framework proposed by Welch and Luostarinen (1988), which proposes six dimensions to determine the degree of internationalisation of a firm: three external dimensions (product, operations and market) and three internal dimensions (personnel, finance and organisational structure). In this on-going study, we apply the 360º framework to a single firm to determine the contemporary validity of the framework as well as identify necessary adaptations. We find that the framework is highly useful for strategic thinking on internationalisation and identify the need to propose two additional internal dimensions: administrative & legal and digital marketing. We also provide empirical evidence of asynchronicities between the firm’s ability to generate international opportunities and to realise them. By identifying these necessary extensions and proposing clarifications and initial measurements for each of the internal organisational capacity dimensions, we highlight the importance of the internal organisational capacity of internationalising firms and contribute to expanding our understanding of it.

This manuscript advocates that countries from the Global South should increase their connectivity level by leveraging their Global Cities to reduce the development divide between the Global North and Global South. This manuscript uses quantitative methods to analyze the relationship between Global, Sustainable, Livable, Smart, Rich, and Cities from the Global North and Global South. We identified that the Global North vs Global South divide can be reduced if Global South countries increase the connectivity level of their most connected cities to improve overall sustainability, livability, smartness, and wealth. This manuscript offers a significant theoretical contribution to scholarly discussion because it suggests that Global Cities are drivers of the overall improvement of their home countries. Moreover, the practical implications are that national policymakers should focus on developing their most connected cities to reduce the Global North-South divide. We offer three paths based on the size of the Global South countries

This paper reassesses foundational concepts in International Business (IB). Revisiting Coase’s (1937) Transaction Costs Approach and Hymer’s (1960/76) seminal work on Foreign Direct Investment (FDI). It claims the need for a macro framework to explain foreign operations control. Despite the longstanding debate on Hymer’s structural and transactional market failure views, there remains a research gap at the macro level. Influential theories, such as Transaction Costs and Internalization, focus primarily on firm-level analysis, neglecting broader perspectives.

We aim to fill this gap by proposing a model to explain international operations control using Coase’s and Williamson’s Transaction Costs Economics (TCE) and Buckley and Casson’s Internalization Theory (INT) at the industry and national levels. It draws on Hymer’s structural market failure perspective, emphasizing the removal of conflict over transactional efficiency. This structural view integrates institutional aspects into transaction cost analysis.

Propositions based on Williamson’s TCE highlight uncertainty in transaction integration rather than asset specificity. The paper provides an overview of Hymer’s assumptions, the conceptual framework, and model constructs. The discussion concludes with insights due to the model’s lack of empirical testing.