We contribute to the discussion on internationalization speed (IS) by looking at it through a firm’s development through changing historical contexts over a period of 150 years. In practice, we explore how a firm’s internationalization timing, pace and rhythm varied in connection to major trade regime changes. To provide contextualized explanation of the IS, we draw from imprinting theory to depict how the founding context was imprinted in the firm and if and how the original imprint persisted and got new manifestations in critical junctures over time. As a result, we depicted the imprint of geopolitical synchronization defined as the way of acting imprinted at founding on the organization and through its manifestations amidst external changes providing explanation of the firm’s IS. We show about trade regime changes through managerial reasoning how different manifestations of the original imprint emerged in the critical junctures. This altogether builds a contextualized understanding of IS.

We examine the impact of transitions in geographic diversification strategies on firm performance using a longitudinal Difference-in-Differences analysis. Our results show that the impact of geographic diversification is path-dependent and is decisively influenced by the strategy of product diversification. Contrary to extant research, we find the negative impact of a strategy of unrelated geographical diversification to be most detrimental in the case of a single-product strategy. Furthermore, we show that firm-specific assets exacerbate the negative effect of unrelated geographical diversification. Our findings challenge the knowledge-based perspective of MNCs as an efficient vehicle for the internalized transfer of knowledge.

Regulatory changes induced by host governments may have a notable impact on multinational enterprises (MNEs) strategic choices and political activities. These emerging responses are traditionally seen to be either adaptive or proactive. As a third option, however, an MNE can also make a strategic choice of withholding a concrete response for strategic reasons – to maintain strategic flexibility, for instance. This study draws from the concept of 'strategic forbearance' to understand such responses within corporate political activities (CPA) of MNEs. Employing a microhistorical approach, our analysis of rich archival data from the Guinness archives reveals that Guinness's forbearance did not mean standing idle. We show how strategic forbearance (1) involved an active utilization of different CPA tactics, (2) was driven by the interrelated dynamics of these underlying CPA tactics where any given tactic shaped other tactics’ boundaries, motivations, and goals, and (3) was shaped by the different characteristics of passiveness, materialized, and considered CPA tactics. Thus, we advance the CPA literature by explicating how strategic forbearance emerges as a viable response strategy to regulatory changes.

Family firms’ orientation towards non-financial goals and their idiosyncratic characteristics make their internationalization processes unique. In a similar vein, they also differ in establishing business networks and developing embeddedness over time. Hence, we outline a single case study of the internationalization and network embeddedness processes of a 5th generation Italian family business operating in the wine industry. In so doing, we aim to investigate how embeddedness and internationalization processes co-evolve over time, and thus identify the interdependencies and interactions emerging between the two processes. Based on our case findings, we advance a three-staged process model of network embeddedness in the context of a family firm’s internationalization process. We found that the family firm’s pursuit of socio-emotional wealth (SEW) creates some dialectical tensions between different stages of the two processes, locking family managers in a condition of over-embeddedness. With the present study, we seek to contribute to the intersection of the IB and family business literature, by integrating insights from a SEW perspective into social embeddedness theory in the context of a family firm’s internationalization.

In this paper, we investigate the different types of liabilities that network organizations face when developing in the home and host countries. Drawing from IB literature, we built a longitudinal case study of a French organization who has developed a network of 27,000 ambassadors to promote the city of Lyon. The empirical study is based on 41 interviews with managers, partners and ambassadors of the organization, observations over a seven-year period and secondary data. Our findings show that network organizations who develop domestically and internationally have to deal with the liability of smallness, but also with another form of liability that we call the liability of largeness. We propose a three-stage model that can help network organizations to overcome both the liabilities of smallness and largeness. Our study provides novel insights into the liabilities faced by network organizations.

This study combines network characteristics from the social network theory and the resource-based view of the firm to examine how internationalizing SMEs can leverage their knowledge networks for improved international performance. Utilizing partial least structural equation modelling (PLS-SEM) on a unique data set derived from social network analysis (SNA) of Finnish internationalizing SMEs' knowledge networks, this research contributes to the international business (IB) literature in several ways. First, by applying a structural view of networks, it advances the understanding of valuable external knowledge sources by demonstrating how partners' network characteristics are associated with knowledge accumulation. Second, by focusing on the resources obtained from networks, it offers a nuanced understanding of how network structure associates with SMEs' international performance outcomes. Third, it demonstrates SNA as an effective method for analyzing networks in the context of SME internationalization. The findings provide valuable insights into how SMEs can strategically leverage their networks to support international expansion.

We investigate the reasons why some firms, called born globals (BGs), can quickly expand their foreign sales. International entrepreneurship (IE) scholars believe that BGs are high technology firms founded by internationally oriented entrepreneurs leveraging their foreign networks. Hennart (2014) and Hennart, Majocchi and Hagen (2021) advance that fast foreign growth can be explained by the firm’s business model (BM): slow-internationalizing ones have a mass market BM, while BGs have a global niche one. Internationally-experienced founders are not necessary. We investigate what accounts for differences in the speed at which a sample of Italian startups ramped their foreign sales. We use fuzzy-set Quantitative Comparative Analysis (fsQCA) to allow for the simultaneous presence of more than one explanation. We find that there are two configurations of antecedents that allow a firm to become a BG: In one, consistent with Hennart (2014), BGs are high-tech startups with a global niche BM. In the other, they do not have a strong niche BM and are low technology. International networks are antecedents in both configurations but, contrary to the predictions of the IE literature, the international experience of founders is not.

We conducted a systematic review of what has been done on “embeddedness” in international entrepreneurship over last 20 years (with 276 selected papers) to explore the concept and its dynamic roles. We clarify the overlapping concepts, the measurement, the mechanisms and the outcome related to embeddedness in a proposed framework. Our mapping identifies how embeddedness can add value to business ventures overtime and how to nurture and develop it as an adaptive capability. Our finding shows that the complexity of embeddedness is under researched and the interaction between embeddedness, international entrepreneurs, and the dynamic environment requires consolidated study. We propose that embeddedness should be studied from a dynamic process perspective, how it originated, evolved and is leveraged. Using the entrepreneurial process lens, our review shows that embeddedness emerged through three entrepreneurial phases under different roles, from (i) cognitive form at the idea generation stage to (ii) actual business engagement in fund raising and (iii) as impactful outcome (internationalization and innovation) at growth stage. The multilevel of embeddedness including intensity, depth, and breadth can be modified via the entrepreneurial learning/unlearning mechanisms and leveraged to its highest value when integrating in a system orchestrating the dynamic of individuals, organizational, and societal attributes.

Using a historical case study of Telecom Finland, I contribute to the research on firm internationalization processes by moving beyond the simple notion of history matters to how past internationalization influences future internationalization. I decompose the influence of the past into junctures—brief periods when organizations develop routines and structures that carry the influence of the past—and processual periods—long periods other than junctures when routines and structures remain stable or change gradually. I characterize internationalization as a multipath process where junctures create opportunities for path creation which are either realized or unrealized during the following processual periods. I argue that internationalization path creation is especially challenging when there is an ongoing internationalization path in which routines and structures are strengthened, i.e., the influence of past internationalization on future internationalization is getting stronger. I also contribute to our understanding of the interactions between internationalization processes and managerial agency by exploring how structures direct agency during junctures and processual periods. During junctures, organizations are more sensitive to the redefinition of internationalization routines and structures giving a significant role to agency. Whereas during processual periods agency tends to be limited to smaller adaptations to changes in the environment.

The study addresses the open questions of what aspects of a market need to change and what types (groups) of re-entries are there, using a unique dataset of over 140 re-entries. Five factors have been identified by the study as potentially leading to re-entry: change in strategy, partner/operation mode/business model, financial condition, market attractiveness, and regulation. These variables allow six re-entry groups to be distinguished from one another. The study demonstrates how those six groups correspond to different re-entry timepoints.

The value of internationalization is not straightforward for family firms but requires an assessment of the endeavor in light of their preferences in socioemotional wealth. Families, as the dominant coalition, guide managers’ internationalization decision by providing reference points that suggest the family’s temporal orientation, which may align with or contradict internationalization. However, extant research tends to omit the heterogeneity among family firms and therefore produces inconclusive results about their internationalization behavior. We build on the Attention-based view and focus on differences in narratives as a situation’s peculiarity that causes heterogeneity in decision-making. Applying the information-processing lens of the Attention-based view and shifting the focus on the microfoundations of internationalization decisions allows understanding varying behavior of family firms. Integrating literature about motivated reasoning, we propose a cognitive mechanism that links firms’ temporal orientation, managers’ attentional engagement, and their internationalization decision for the family firm. Empirically, we aim to test this relationship in an experimental vignette design with approximately 120 managers from Austrian family firms and incorporate elements from MouselabWeb, which allows tracing managers’ information processing. This study therefore contributes to a better understanding of the sources of heterogeneity in family firm internationalization and enriches recent literature about the managers’ situated attention.

Circular economy emerged from economics and environmental wellbeing, is one of the most relevant contemporary trends of the global society. Tensions and risks of existing linear eco-nomic systems has explicitly made these systems unsustainable and human being life on the planet confronted with serious environmental, economic and social warnings. At the same time with the global call, research on areas involving circular economy is growing, accelerating this transition, including emergence of circular business models for implementing circular economy strategies. In this study, we aim to identify and classify circular strategies in business models through qualitative analysis of previous studies. We form a framework of circular business model activities and elements that can be further used to develop a circular business model pos-sibly with other cross-disciplinary areas, for leaders and entrepreneurs who aim to circularize their businesses.

This paper investigates the impacts of circular economy (CE) policies on global value chains (GVCs) with a focus on the French textile industry. The primary objective is to understand how CE policies influence firm strategies, GVC structures, and environmental outcomes. We focus on textiles, as it is one of the most resource intensive and polluting global industries and thus firms face strong pressures from governments and consumers to reduce their impact. The theoretical framework integrates firm-level circular business model innovation and the multi-actor GVC framework. The study employs a qualitative methodology, based on semi-structured interviews conducted in 2024. Key findings reveal that CE policies at national and EU level can drive significant restructuring of GVCs by promoting circular business models, although economic and policy coherence challenges remain. These results suggest that harmonized CE policies and regulations at the EU level are essential for building decoupled European circular loops which minimize the need for virgin resources.

This study analyzes the impact of the Covid-19 pandemic on a firm's total factor productivity (TFP) using Korean firm-level data from 2016 to 2022. The study reveals that the pandemic had a heterogeneous impact on firm TFP depending on the firm's operational characteristics, specifically whether the firm is a multinational enterprise (MNE) or a pure exporter (non-MNE). While the pandemic had a more significant negative impact on the TFP of pure exporters than other firms, MNEs were less affected by the pandemic shock than pure exporters. This implies that while both firms were exposed to negative demand shocks on a global scale, MNEs were better equipped to handle supply-side uncertainties through international diversification. The study identified certain characteristics of MNEs that helped buffer the pandemic shock, such as shedding labor, high R&D intensity, and more diversification via foreign subsidiaries. These characteristics enabled MNEs to mitigate the pandemic shock and even increase their TFP during the pandemic.

In the contemporary business landscape, marked by uncertainty and disruption, resilience has become a focal point for managing multinational enterprises (MNEs). This study investigates the trade-off between organizational resilience and innovation performance, exploring whether firms can be resilient and innovative simultaneously. We analyze S&P 500 firms, using cumulative abnormal returns (CAR) from the first COVID-19 wave as a measure of resilience and patent data to measure innovation. Our findings reveal a negative impact of resilience on innovation, highlighting the challenges firms face in balancing stability and creativity. The degree of internationalization further exacerbates this negative relationship, indicating that globally dispersed operations heighten complexity and risk, thereby prioritizing resilience over innovation. Conversely, while openness to external partners shows a tendency to negatively influence the resilience-innovation relationship, this effect is not statistically significant. These results suggest that firms focused on resilience may inadvertently reduce their innovative capabilities, a crucial insight for managers aiming to navigate the dual demands of maintaining stability and fostering innovation. This study contributes to literature by providing empirical evidence of the resilience-innovation trade-off and offers practical implications for strategic resource allocation and organizational ambidexterity in disruptive environments.

This study examines the impact of managerial experiences and digital competencies on the adoption of de-risking strategies by Multinational Enterprises (MNEs) amidst amplified global uncertainties and geopolitical tensions. We draw on the revised Uppsala Model (UM), which integrates risk management with experiential learning, to analyze how managers' characteristics influence their preferences for digital technologies (DTs) and relocation strategies in internationalization processes. By employing a Vignette Study design, we present hypothetical scenarios to 52 MNE managers with manufacturing experience, simulating strategic decision-making under controlled conditions. Our empirical analysis, generating a comprehensive dataset of 624 observations, employs a random-intercept model to assess how variations in international experience and digital knowledge affect strategic judgments. Findings reveal that managers with extensive digital competencies and international experience are more likely to combine DTs with nearshoring strategies, enhancing operational resilience and competitive positioning. This alignment supports the revised UM’s emphasis on experiential learning and risk management in shaping internationalization paths. Further, our research highlights the significance of managerial cognition in shaping effective de-risking strategies, contributing to both theoretical and practical understanding of international business management in turbulent times.

This panel proposal clearly focuses on global value chains (GVC), which is a crucial topic in international business. Navigating paradoxes suggests a focus on the complexities and contradictions that multinational firms often face in global value chains. Indeed, on the one hand, seizing resilience emphasizes the importance of developing robust strategies to maintain and enhance business resilience in an ever-changing global landscape. On the other hand, this can imply a compression of the efficiency and profitability of the firms that are part of the GVCs.

This panel will examine conflicting demands within GVCs, identifying and examining key challenges, and highlight strategies for building resilience in global value chains.

E-commerce firms (ECFs) need to standardize or adapt their market operations in host countries while research has studied only website elements such as design or content. Surprisingly little is known about the degree of standardization of ECFs’ important online offers, such as assortments or prices, and of online services, such as customer chats or payment options. The authors close this gap by analyzing the standardization of both operations dependent on institutional distances, whose role in online markets is debatable. They analyze how distances (general formal or informal and added formal or informal) impact both decisions differently. This study refers to data on 1,921 standardization decisions of 207 leading ECFs. The results show that added formal insti-tutional distance is generally the main antecedent, while further institutional distances have dif-ferent effects on online offers and services. The results provide direct suggestions for managers interested in ECFs’ standardization decisions and the role of institutional distances.

The purpose of this paper is to develop a conceptual framework that incorporates institutional theory and Oliver’s (1991) framework of responses to institutional processes in a single industry, retail. The research literature on institutional theory and Oliver’s (1991) framework is used to predict retailers’ strategic responses to institutional pressures. We identify a set of institutional factors exerting pressures on transnational retailers in a host market and develop a conceptual framework along with ten propositions for further examination. These propositions are related to unique institutional dimensions - regulatory, normative, and cognitive institutions in the context of retailing. The paper's main contribution is the application of institutional theory and Oliver’s (1991) framework of strategic responses to institutional processes to highlight the specifics of international retailers’ strategic responses to regulatory, normative, and cognitive institutional pressures in international retailing.

The aim of this paper is to enhance our knowledge on how executive expectation affect the firm’s internationalisation process, namely, by offering explanations to sudden major investments/ divestments that deviate the process from commonly presumed incrementality. The theoretical view developed in this study is founded upon Johanson and Vahlne’s (1977) internationalisation process model and complemented with the concept of executive expectation. Through a longitudinal comparative case study, enriched with archival data and interviews, this paper emphasises the dynamics of the firm’s internationalisation process. This aids to provide some answers on how changes in the composition of executives, such as the replacement of key personnel, can drive the firm’s internationalisation process into a different path when succeeding executives do not share similar expectations to their predecessors.

To understand how the institutional environment influences multinational enterprise (MNE) decisions regarding tax havens, we build a theoretical framework that links democracy and natural resource endowments with the use of tax havens in emerging markets. This enables a broader understanding of the institutional factors that influence MNE behaviour towards tax haven locations. Using data drawn from 4,630 emerging market MNEs (EMNEs) from 2008-2018, we empirically test these hypotheses using regression analysis. We find that higher levels of democracy in the home country of an EMNE is associated with a reduction in tax haven use. However, the use of tax havens by EMNEs is positively related to higher natural resource rents in their home economies. Moreover, higher natural resource rents moderate the impact of democracy on tax haven use by EMNEs, such that the natural resource curse undermines the impact of democracy on firm behaviour. Our results have several managerial and policy related implications.

Multinationals’ (MNEs) strategies to reduce carbon emissions require substantial investments in new energy technologies, however, short-term profitability losses create barriers for long-term investments to improve corporate carbon performances (CCP). This study investigates the

impact of investor horizons and investor climate sentiment on the carbon emissions of large multinational firms. Drawing on institutional theory and on the varieties of capitalism literature, we argue that investor horizons are constrained by national capital markets, and investor sentiments are shaped by national climate policy stringency. Our sample contains 1961 firm-year observations of 197 MNEs with an average panel length of 9 years. We find support for our hypotheses and highlight that the impact of investors on carbon-reducing action differs between liberal and coordinated economies. We discuss the complex interrelation between institutions, policies and investors for MNEs’ carbon performances.

In response to growing societal pressure to address climate change, several banks are stating their commitments to transitioning their business models towards net-zero emissions and even carbon-neutrality. However, they continue financing fossil fuel industry through loans and underwriting arrangements, leading to accusations they are “greenwashing”. Since, greenwashing impacts consumer and investor confidence, the decarbonization of the financial industry, and the promotion of sustainable investments, it is crucial for regulators, investors, and consumers to understand its drivers in the global banking industry. This study explores the bank and institutional conditions that contribute to greenwashing in global banking by employing institutional theory and the resource-based view (RBV). We analyse an international sample of the largest banks from both emerging and advanced countries from 2016 to 2022. We define greenwashing by focusing on a single dimension of corporate social performance: environmental pollution, which we proxy by the bank’s total exposure to the fossil fuel industry. We propose that (i) greater global diversity in banks is positively linked to greenwashing; (ii) strong and well-enforced financial regulations are negatively correlated with greenwashing; (iii) a common law origin is positively associated with greenwashing in global banking. Our results provide empirical support for these arguments.

Multinational enterprises (MNEs), like individuals, strategically shape their public image through organizational impression management, often misleading stakeholders. This research investigates why boards, typically seen as oversight bodies, might overlook such tactics. It suggests that increased media visibility could prompt directors to prioritize positive public images, leading to tolerance of impression management behaviors.

We constructed and analyzed a dataset of 164,416 media articles on external directors from the Shanghai and Shenzhen Stock Exchanges (2010-2021) using a natural language processing tool (LIWC) to analyze the articles. This generated 7,158 firm-year observations from 2,165 MNEs. Our findings reveal a complex link between media attention and impression management: more media focus on board members correlates with reduced earnings manipulation but increased bribery. Disproportionate media attention among board members leads to more earnings manipulation but less bribery, while positive portrayals are associated with increased earnings manipulation but reduced bribery.

This study contributes to corporate governance literature by highlighting the intricate effects of media coverage on organizational impression management.

This panel proposal for the 50th EIBA Conference seeks to explore the transformative potential of Collaborative Online International Learning (COIL) in fostering innovation within academic and professional contexts. COIL programs, which facilitate cross-cultural learning and collaboration through digital platforms, have been increasingly recognised for enhancing students and professionals' global competencies, critical thinking, and problem-solving skills. The panel will feature diverse perspectives from leading educators and practitioners successfully implementing COIL initiatives. Discussions will focus on the pedagogical frameworks, technological tools, and collaborative strategies that underpin effective COIL programs. Additionally, the panel will examine the impact of COIL on participants' intercultural understanding, its potential to drive inclusive and sustainable innovation and how COIL can impact the International Business Schools Industry. Through an interactive discussion, attendees will gain insights into best practices for designing and executing COIL projects that bridge geographical and cultural divides. The panel aims to inspire educators, researchers, and industry professionals to leverage COIL to cultivate a more interconnected and innovative IB community.

This paper draws on the three-dimensional power theory and interviews with 32 local-hired and expatriate parent country national (PCN) employees to abductively examine how and why language proficiency enhances the development and maintenance of multi-faceted dimensions of power in Chinese foreign subsidiaries in Japan. Our analysis shows that Chinese proficiency provides expatriate and local-hired PCN employee groups with three interrelated dimensions of power: (1) decision-making power (visible power), (2) non-decision-making power (hidden power), and (3) ideological power (invisible power). This study contributes to international business research by demonstrating how language proficiency leads to asymmetrical expressions of power by PCNs in foreign subsidiaries, elucidating the sustained language-based advantageous positions of PCNs in foreign subsidiaries, and demonstrating that power is a conduit or mediator for acquiring influence from other power dimensions.

This paper draws on social identity theory and its derivatives in sociolinguistics to link English proficiency to language discrimination, emotional exhaustion, and voluntary turnover in two studies with independent samples. Study 1 uses data from 498 local employees at three-time points over 17 months in 346 foreign subsidiaries in Japan. The findings show that language discrimination by expatriates mediates the positive relationship between local employees’ low English proficiency and voluntary turnover. The findings also suggest that the higher relative standing of expatriate managers to local ones moderates the positive low English proficiency-language discrimination relationship such as that the relationship is stronger when low English proficiency is high. Study 2 uses data from 330 local employees at three-time points over 17 months in 264 foreign subsidiaries in Japan. The findings show that local employees’ emotional exhaustion mediates the positive relationship between language discrimination and voluntary turnover. The findings also show that power distance orientation moderates the positive language discrimination-turnover relationship such that the relationship is stronger when power distance orientation is low. This paper contributes to IB research by linking language discrimination to turnover and elucidating power-related aspects of language discrimination by a small but powerful minority – expatriates – in foreign subsidiaries.

Over the past four decades, research has identified numerous determinants of expatriate success, highlighting the critical factors that contribute to expatriates’ effective integration and performance in international assignments. Previous research has suggested that expatriates’ foreign language proficiency is a crucial factor in expatriate success, yet the findings have been inconclusive. Drawing on self-efficacy theory and job embeddedness theory, we examine the direct relationship between language proficiency and a comprehensive set of five work-related outcomes throughout the expatriation process, including expatriation intention, cross-cultural adjustment, job satisfaction, job performance, and turnover intention. Furthermore, we analyze the mediating role of cross-cultural adjustment in these relationships. Based on experiential learning theory, we theoretically propose and empirically test the moderating roles of expatriation experience and host country tenure. Our framework is tested through a meta-analysis that integrates the findings of 100 studies (112 independent samples and 24,798 individuals). Our results demonstrate significant associations between language proficiency and expatriation intention, cross-cultural adjustment, and job performance. Further, we reveal the mediating role of cross-cultural adjustment and show that these associations remain stable across different levels of experience and tenure. Our meta-analytic findings highlight the critical role of expatriates’ foreign language proficiency in work-related outcomes.

This panel will discuss the magnitude and breadth of two unprecedented disruptions across the globe that are significantly affecting the innovation activities and strategies of multinational enterprises (MNEs): 1) the advent of digital innovations such as blockchain, artificial intelligence (AI) and machine learning, cloud and quantum computing, and the internet of things (IoT), and 2) the growing geopolitical tensions between major economies that are redefining the international competitive landscape. Each discussant will illustrate relevant areas of research and specific research questions to investigate the topic.

Recent trends show a global resurgence in industrial policy, where state power promotes specific industries, substantially impacting international market dynamics as a nonmarket force. Our analysis centers on industrial policies to enable home-country firms to participate in international economic activities and views firm nonmarket strategies as an important driver. Through a history-to-theory approach and microhistorical analysis, we examine Finnish shipbuilders’ nonmarket strategies to leverage industrial policy for competing internationally (1946-2000). Drawing from New Institutional Economics, we view outward-oriented industrial policy measures as additional country-level institutions that shape and alter cross-border transaction costs within international markets to benefit firms from the implementing country. We uncover the mechanisms and adaptation of industrial policy institutions, identifying nonmarket efforts termed ‘manufacturing national consent’ as crucial driver to policy implementation. We propose a theoretical model detailing the structural conditions conducive to industrial policy development, the role of nonmarket strategies, and their impacts on international competitive advantages. Overall, our aim is to rekindle a more nuanced discussion on industrial policy within the IB community and showcase the potential of historical research in our field.

The rise of populism affects more than a quarter of the world's population and has substantial impact on international business (IB) and multinational enterprises (MNEs). Our study analyzes how home-country populism affects MNE internationalization, raising significant theoretical implications for both MNE (market and non-market) strategy and IB policy literature. Examining data from over 20,000 MNEs across 44 countries in the period between 2013 and 2022, we investigate how different types of populism, especially from right-wing centered parties, influences MNEs’ internationalization patterns. We further also distinguish between different types of internationalization behaviours – both in terms of exporting vs. outward foreign direct investments (OFDIs) and in terms of greenfield vs. acquisition projects under the OFDI umbrella. Drawing on institutional theory and social identity theory, our study adds to the recent calls for greater theoretical scrutiny of political risks and their mechanisms, especially populism. We add theoretical nuance to still limited understanding of why and how populism impacts specific MNE internationalization patterns. Our study distinguishes between center, left- and right-wing types of populism. We have found a surprising result – the expected negative impact of populism on greenfield investments actually weakens under right-wing populist regimes.

Conventional partisan political risk theories in international business assume that host-country governments led by right-wing parties pose less risk to foreign and domestic investors. We challenge that convention by developing a framework adding populist political risk assumptions emphasizing anti-foreign investor policy priorities. That addition prompts a “right-wing shift” increasing risk for foreign relative to domestic investors. We document support for this theorized shift through capital structure analyses of 596 investment projects announced for construction and operation in 27 European countries from 1990-2020. Projects involving foreign or domestic investing project “sponsors” are financed with less equity indicative of less investment risk when announced in host countries with governments led by right-wing parties. When recent elections see increased vote shares for right-wing populist parties, follow-on projects involving only domestic sponsors again include less equity indicative of lower investment risk, but projects involving at least one foreign sponsor include more equity indicative of higher investment risk. We contribute novel theory and evidence about populist party influence on government policies affecting investment risk. Theoretically, we identify important boundary conditions for populist party influence related to partisan orientation. Empirically, we identify alternative methods for assessing populist party influence related to recent electoral outcomes.

The dynamic view of institutional theory raises new questions on how institutional change influences firms’ strategies and success. As prior research has disagreed over the effect of pro-market reforms on firm’ performance, the conflicting findings lead to the argument that prior studies mainly focused on the scope of pro-market reforms, without acknowledging that the process of institutional change matters. However, how does the process of institutional change in the European Union influences firm performance remains unanswered. The purpose of this study is to further disentangle the process of institutional change and understand how the speed, predictability, and synchronization of institutional change defines the level of institutional fragility and influence firm performance in the European Union. We argue that an institutional environment is deemed fragile when different institutional dimensions are not progressing equally and thus causing additional friction, conflict, and complexity. Our results show that a predictable and synchronized process of institutional change is preferable to further improving firm performance in the EU. We contribute to the literature on the dynamics of institutional change and firm performance by proposing a disentangled process of institutional change in the EU.

In the past two decades, cluster policies have become key tools for fostering competitiveness and economic development globally. The EU's Next Generation EU program and Spain's Strategic Projects for Economic Recovery and Transformation (PERTE) exemplify these efforts. These policies, encompassing project calls and grants at various levels, target specific company populations meeting economic significance and associativity criteria.

Cluster management organizations (CMOs) play crucial roles in these policies, guiding project development and cluster activities. Despite progress, significant challenges persist in CMO management, particularly in company internationalization.

This work analyzes biases and barriers in cluster policy implementation, focusing on Spain and internationalization. Data from 108 CMOs representing over 13,000 members reveal heterogeneous spatial and productive dispersion across Spain, explaining the varied international strategies of clusters. These findings enhance our understanding of cluster policies and can influence future policy decisions.

Prior studies examining the impact of government-created advantages on Outward Foreign Direct Investments have overcome to apply it to Inward Foreign Direct Investments (FDI). This paper advocates that this lack of association is due to insufficient data to capture policies that produce incentives. Drawing upon New Institutional Economics, the paper argues that the Turkish government is incentive-driven and improves the FDI attraction in the country. Next, the paper constructs Regulation, Promotion & Service (Marketing), and Supervision Policies (indices) based on two criteria: the department number and the policy content. The sample consists of 173 IFDI policies concluded between 1980 and 2022 by the Turkish government. Last, the study articulates four research hypotheses. Results indicate that Regulation, Promotion, and Service Policies improve Turkish IFDI, whereas, Supervision Policies do not affect the Turkish IFDI level. Managerial Implications and Avenues for Future Research are presented.

Using a historical case study, we explore how international legal challenges can trigger unexpected consequences for local industries, leading to member mobilization and industry restructuring. It examines the case of the Canadian wine kit manufacturing industry's response to a legal challenge from French Institut National des Appellations d’Origine (INAO) over the use of geographical trademarks of French wines on Canadian wine kits following the introduction of Trade-Related Aspects of Intellectual Property Rights (TRIPS) agreement. We show how the adoption of TRIPS exposed Canadian wine kit manufacturers to a legal challenge from France. How the manufacturers responded by creating a peak organization - Canadian Home Wine and Trade Association (CHWTA) to represent their interest in the litigation, and how this peak organization, once the dispute was resolved, strategically pivoted towards a more aggressive market expansion activities. We contribute to research in international business and non-market strategy by highlighting the impact of international legal challenges on local industries and explicating the role of peak organizations in industry mobilization and strategic adaptation.

Based on an integrated conceptual model combining institutional theory and strategic asset seeking we study the effects of formal institutional distance and Technological prowess on the probability of completion of cross-border M&As.

This study uses cross-sectional firm-level secondary data from developed and developing Asian acquisitions of EU28 and US target companies during the period from 2010 to 2019. The determinants of M&A completion are analyzed using a logit model to test the hypotheses.

The likelihood of M&A completion by Asian companies showed to be lower in the case of higher institutional distance between acquirer and target countries. It is higher in the higher tech target industries, which points to a clear asset seeking motivation.The direction of the institutional distance between the acquirer and the target country matters. If the Asian acquirer has a lower formal institutional profile than its EU or US target, this enhances the probability of M&A completion in higher technology intensive target industries. This effect can not be acknowledged for Asian acquirers originating from a country with a higher institutional profile than its target.

Emerging digital technologies play a central role in tackling grand challenges. However, the increasing development of digital technologies demand significant resources, including energy, exacerbating environmental challenges. Literature has defined this as a dark side of digital innovation. This gives origin to a paradox related to, on the one hand, responding to the environmental grand challenge through digital technologies, and, on the other hand, the negative impact of such technologies to the environment. The semiconductor industry plays a key role in this context, and companies introduce circular innovations, which aim to deal with sustainability, and in particular, environmental related issues. In order to tackle the paradox of transitioning to circularity while developing digital technologies, MNEs resort to collaborations with other actors (other companies, research centers, universities, individuals, and governmental institutions) whose combinations evolve over time, to adapt to the maturity level of the innovation processes. Our empirical analysis analyses the innovative activities and the relevant collaboration portfolio performed by European Semiconductor Equipment Manufacturers (SEMs) in the past decade (2014-2023).

Crowdfunding has become a vital financial mechanism for new ventures, with significant growth anticipated by 2030. This method is particularly beneficial for sustainable ventures, which often struggle to access traditional funding. This paper investigates the intricate dynamics of investment behavior in sustainable crowdfunding campaigns, focusing on how elements such as campaign confidence, venture sustainability orientation, and specific campaign features affect the size of individual backer contributions. Moreover, it examines the moderating roles of backer experience and risk tolerance in these dynamics. The study employs a mixed-methods approach, analyzing a distinctive dataset from a successful sustainable venture, incorporating both primary and secondary data from over 1600 backers who collectively raised over 3 million euros. Through a detailed examination of backer motivations and the impact of various factors on investment levels, this research addresses critical gaps in existing literature and offers valuable insights for refining crowdfunding strategies. The findings aim to enhance our understanding of the determinants of backer investment decisions in crowdfunding campaigns and to support the creation of more effective promotional strategies, especially for sustainability-oriented initiatives.

Regarding why firms report voluntary initiatives to reduce greenhouse gases (GHG), little is known about interactions between the institutional configuration of the origin of FDI and host countries' institutions. Drawing on the New Institutional Economy and Varieties of Capitalism, we argue that FDI has a differentiated impact depending on its origin. FDI is positively externalizing the home institutions of the coordinated economies where it comes from. Host institutions, divided into economic freedom, environmental regulation, and informal institutions, play diverse roles. Environmental regulation and informal institutions moderate the negative impact of the FDI from liberal economies on these voluntary initiatives. The publicized economic freedom has adverse direct and indirect effects on these, the former being minimized by host informal institutions. Panel data models with dichotomous dependent variables receive strong support in this study on 1322 companies from twenty emerging countries that have reported GHG emission reduction initiatives as part of their involvement in the United Nations Global Compact (UNGC) program.

This panel symposium aims to highlight the impact of geopolitical risk on the environmental impact of multinational enterprises (MNEs) in an increasingly interconnected world. Given that MNEs are 'border-crossing multi-locational enterprises,' increasing geopolitical risk due to increasing cross-border conflicts, populist governments, or protectionist policies can negatively affect MNE activities generally but have particularly deleterious consequences for the environmental performance of the MNEs. Some of the key issues we discuss in this panel are how geopolitical conflicts are reshaping the sustainability-driven environmental policies of governments and the ability of MNEs to adopt or innovate environmentally-friendly processes and technologies. Additionally, we consider how the environmental impact of MNE activities in this complex geopolitical landscape is negatively affected by industrial policy misalignment when driven by ideological concerns and why regional industrial policies must be coordinated to mitigate the environmental impact of MNE activities.

In this panel, we focus on the development of Nordic IB scholars through cross-border collaboration and its influence on IB research and education. We specifically reflect on the experiences of the Nordic Research School of International Business (Nord-IB), as we celebrate the 25th anniversary of the official inauguration. We discuss the motivation behind the establishment, its influence on research and cross-border collaboration. Furthermore, considering European Universities are increasingly adapting to the American model of “publish or perish”, we will reflect on how much Nordic research has adapted this change and what implications this might have on the future of Nordic scholarship for the coming 50 years.

This panel will introduce the novel and interesting idea of taking a modular approach to microfoundations studies in IB, the subject of a forthcoming perspectives paper and special issue in a premier IB journal. We explain our conceptualisation of micro foundations and systematically identify and illustrate a modular microfoundations perspective and what it means in IB (Pamela Sharkey Scott), reveal how this approach can be applied and bring together a range of IB studies (Randi Lunnan), offers promise for expanding mainstream IB theories (Emre Yildiz), and bring together existing and future studies, and contribute to solving the grand challenges(Ulf Andersson). The panel aims to call for IB scholars to adopt this new modular microfoundations perspective to better tackle contemporary challenges in global business and society over the coming years.

This panel illustrates alternative approaches to theorizing by drawing on Reijo Luostarinen’s – Professor of International Business at the Helsinki School of Economics and EIBA Fellow – experiences. His research is one of the neglected treasures of the International Business (IB) field. Compared to the Uppsala Model of internationalization, which was also developed at the same time in the 1970s, Luostarinen’s theory is as groundbreaking but more comprehensive and far less known within the IB community. This panel raises the question: What can we learn about theorizing from the original example set by Reijo Luostarinen? The panel introduces four alternative perspectives on the process of theorizing inspired by Reijo Luostarinen’s experiences, with each panelist representing one perspective: i) a pragmatic approach to theorizing (Joep Cornelissen); ii) a phenomenon and agent-based approach to theorizing (Khadija van Straaten); iii) a location-based approach to theorizing (Rebecca Piekkari); and iv) a meta-theoretical (systems) approach to theorizing (Catherine Welch). This design gives coherence to the panel.

This panel is motivated by calls to action for international business (IB) research to encompass a greater diversity of phenomena in the world so we can better understand and address contemporary global issues. Empirical settings in emerging markets, in particular, have been identified as under-researched, thereby limiting our collective capacity for IB theory development. Qualitative research methods are well-suited to opening up under-researched phenomena to the scholarly community; however, established practices have largely been developed in market settings. This panel addresses important challenges in their use in emerging markets and provides recommendations for how these challenges may be overcome. Thus, the panel is focused on pushing the boundaries of our field to make it more interesting and impactful, and therefore is strongly aligned with the conference theme.

Motivated by the high risk and growing disinterest of countries and organizations in investing in the Olympics, this study aims to analyze what are the risks and opportunities to long-term equity investments of companies and governments engaged in an Olympic agenda? This research used qualitative methodologies such as the case study, which included a total of 38 in-depth interviews with companies and entities affected by the phenomenon being studied, which together formed the cases of Rio 2016 and Tokyo 2020. As a result, a theoretical framework emerged in a better way to understand (1) the logic behind investment flows in the context of mega-events; (2) new competitive pressures from specific industry sectors most affected by the Olympic Games; and (3) threats and trends that are likely to affect the future of the Olympic movement. Was verified that the gigantism assumed by past editions has put a lot of pressure over organizers and companies for new management practices and better planning over its investments, in a way to ensure not only a minor impact of the event on the environment, but also an economic sustainability of the Olympics and other international sport mega-events.

Exploring Space as a new domain for international business (IB) research tests the relevance of existing theories regarding firm investment behavior, governance, regulations, and the dynamics of competition and cooperation within the Space Value Chain. Unlike other contexts, Space introduces a unique set of challenges that fundamentally question our current theoretical frameworks' explanatory and predictive capabilities. We argue that while established IB theories provide a useful foundation. This new frontier offers a significant opportunity for scholars to conduct impactful research that addresses societal needs. Understanding the implications of a crowded, contested, and hyper-competitive outer Space environment to the Space Value Chain can enhance our ability to tackle related terrestrial issues, leveraging IB’s expertise in managing global complexities.

Achieving success in the "New Space" race has become a significant challenge not only for states, but also for non-state actors. This competitive landscape has led to the increased creation of international strategic alliances (ISAs). Building from the literature on firm motivations for forming strategic alliances, we highlight the importance of the geopolitical context and how it shapes ISA formation in highly strategic sectors. Based on a single case study of the establishment of a strategic alliance between a US-based firm and a European firm in the global satellite industry, our findings reveal that the geopolitical motives lying below this phenomenon can be categorized into three types: (1) alignment of partner firms’ and states’ interests, (2) reinforcement of states’ competitive positions, and (3) enhancement and legitimization of the leadership of partner firms and states in the "New Space" race. We contribute to extant research on strategic alliances by identifying a new type of motivations, namely geopolitical motives, which strengthen the strategic positioning of all actors involved in such collaborations. Additionally, we provide implications for policymakers and managers in the satellite industry by offering a deeper understanding of the cross-cutting public-private interests that shape the formation and deployment of ISAs.

The institution-based view propagates that institutional frameworks and transitions matter in shaping firm internationalization. However, studies on the interaction processes between institutional change and emerging market firm internationalization remain scarce. This study adopts a historical lens and case study approach to analyze how an emerging market transitioned from a small-and-medium enterprise to a multinational through internationalization under different phases of institutional change. It develops a process model to demonstrate how emerging market firms creates growth pathways by utilizing components of dynamic institutional changes domestically and abroad. The theoretical implication is that E-E firms’ internationalization strategies are contingent upon their flexibility in exploiting institutional changes and treating them as entrepreneurial opportunities, rather than as institutional voids that need escaping from.

Purpose:

This research explores the phenomena of ‘artisan female migrant entrepreneurs’ (FMEs) strategies for surviving in Finland and the utilization of digital tools to set up business for becoming financially independent particularly in North part.

Design/methodology/approach:

The paper employs a qualitative research approach based on eight case studies in Finland. The in-depth interviews in two phases (face-to-face and telephonic) were conducted with the artisan FMEs.

Findings:

The findings reveal how these artisans are coping with challenges with regards to language barriers, cultural gap and mentally well-being. Along with how digitalization enables them to leverage online platform, digital tools to promote their products and services and establish resilient their network in the host country.

Originality:

This research highlights the unique aspect of self-employment and financial independence. This research sheds light on how these female migrant entrepreneurs (FMEs) emphasize their contribution not only to the socio-economy but also sustainable development. Through case studies, this research explores various aspects, including the reason for migration to Finland, how they turned their hobbies into business, the adaptation of creative strategies, customers acquisition for financial sustainability and awareness of governmental benefit.

Paper type: Research paper (under development)

As international entrepreneurship is becoming more complex and superdiverse, its theorizing requires novel attention. Contemporary founders who develop international opportunities and establish international ventures are increasingly digital and global in their venturing, but also as individuals with specific experiences, heritages and networks. Recent studies indicate that the field of international entrepreneurship (IE) may benefit from advanced theorizing that captures the concepts and contexts in a more nuanced manner. We lack an integrated understanding of the IE landscape and how entrepreneurial learning may differ across the landscape. We address this by reflecting theories from entrepreneurial learning and by exploring archetypes of entrepreneurship that have international dimensions in terms of people, places, processes and international migration. Our conceptual paper contributes to advancing theorizing, analysis and categorization, providing clarity to this interdisciplinary nexus.

This research project aims to conduct a comparative analysis of urban Indigenous international entrepreneurship across Canada, the United States, Australia, and New Zealand. Indigenous peoples have a rich history of international entrepreneurship that predates colonial disruptions, and they continue to engage in global business activities despite ongoing challenges. The study seeks to uncover the unique factors that promote or hinder international entrepreneurship within Indigenous communities situated in urban environments.

Globalization has contributed to the increase of a firm’s internationalization as a way to pro-mote growth and boost sales. Several studies have explored this phenomenon. As awareness about gender issues has grown and studies on the role of gender have gained prominence, there is a growing need to explore the relationship between a firm’s manager's gender and a firm’s internationalization. Specifically, we investigate the influence of manager gender on a firm’s export. Our study centers on Portuguese firms, as there appears to be a gap in the literature concerning this specific context. While similar research has produced mixed results for other countries, we aim to shed light on this matter for Portugal. Based on a sample of 22,356 manu-facturing firms the results obtained through a probit model indicate that gender does indeed have a negative impact on a firm's likelihood to engage in exports. The same occurs with firm’s age. Conversely, our findings highlight that larger and more productive firms have a greater pro-pensity for exporting. These results have important practical and policy implications.

Drawing on research on the microfoundational processes affecting the roles of strategic leaders in international business and research on political psychology, we explore how the political ideology of the CEO influences firm FDI decisions. Asymmetries between liberals and conservatives in their epistemic motives, relational motives, and dispositional preferences interact with the additional sources of bounded rationality in a multinational context to influence internationalization strategy. Specifically, we argue that firms led by liberal CEOs engage in more FDI than those led by conservative CEOs because (1) they are more likely to direct their attention abroad, and (2) they are more likely to find opportunities abroad attractive. Moreover, because internationalization decisions require the approval of multiple stakeholders, the managerial ability of the CEO to legitimize their preferences serves as a key moderator of this relationship. Finally, integrating additional insights from the literature on home-country institutions, we find that the divergence between CEO ideologies and the national political institutions in their home country can lead to increases in FDI. We test our hypotheses using an unbalanced panel of 455 firms in years 2009-2020. Overall, we find support of our hypotheses which underscore the importance of the CEO’s political ideology in influencing firm internationalization.

We elucidate the moderating impact that the foreign subsidiary’s internal technological embeddedness plays on the relationship between the foreign subsidiary’s innovation performance and its foreign divestment propensity. Because the innovation capabilities of firms are important means to build/sustain competitive advantages, increase overall organizational performance, and are hence considered crucial for foreign subsidiary survival, we hypothesize that there is a negative relationship between a foreign subsidiary’s innovation performance and its foreign divestment probabilities. Moreover, we aim to elucidate under which conditions this negative association can be weakened. To answer this puzzle, we integrate the business network view and the resource dependence theory to propose that the internal technological embeddedness of foreign subsidiaries within their internal MNE networks, as a strategic valuable resource, matters in the subsidiary’s innovation performance – foreign divestment relation. Previous research has treated foreign divestment as an aggregated construct, not differentiating its various forms, leading to an oversimplification of the phenomenon. Responding to a call, we focus on two types of foreign divestments: full foreign divestment through subsidiary sales and subsidiary liquidations/closures. We test our hypotheses in a sample of 1,056 foreign-owned subsidiaries operating in a European country over the period from 2008 to 2016.

Geopolitical conflicts pose challenges for multinationals with operations in conflicting countries, as they have to provide legitimate justifications for their actions and decisions under the scrutiny of stakeholders and the international community. This study explores the co-construction of corporate (il)legitimacy during a geopolitical conflict. We trace the legitimation-seeking process in the case of a Finnish multinational that, prior to the Russian attack on Ukraine, had the majority of its manufacturing in Russia. We analyze how corporate (il)legitimacy was co-constructed in a discursive interaction between the multinational seeking to legitimize its presence in Russia and the media questioning and problematizing the multinational’s actions. We show that (il)legitimacy is co-constructed through a range of legitimation strategies employed by both the multinational and the media. It consists of both the discursive realm that provides the discursive and rhetorical resources for the strategies (e.g., moral arguments) and the material realm that frames the strategies by enabling or constraining their potency (e.g., consumer boycotts). Our analysis shows that while the multinational’s actions in Russia were co-constructed as relatively legitimate in the first months after the invasion, changes in the material realm of legitimation tilted the co-construction toward illegitimacy, leading the multinational to exit from Russia.

Although business school internationalization is not a novel development, it remains inadequately explained conceptually. Previous studies have predominantly delved into specific cases, lacking comprehensive theoretical underpinnings for this growing trend. In this study, we adopt one of the fundamental theories of international expansion, the eclectic paradigm, to investigate how top business schools establish their regional and global presence. Leveraging insights from the literature on knowledge-intensive multinationals (KIMs), we shed light on the process and demonstrate that business schools expand into global cities with robust connectivity to mitigate the liability of outsidership through concerted networking efforts. We refer to this pattern as OLIN: Ownership-Location-Internalization-Network.

How to choose the most appropriate distance perspective for practical applications? The concept of distance has been widely used for international location decisions but with inconclusive empirical results in the leading debates, e.g., cultural vs institutional distance, psychic distance, geographic distance, and distance in global value chains. However, practical applications of the concept, e.g., market entry strategies, supply chain management, cross-cultural management, and customer relationship management, are becoming more relevant for practitioners.

We take the theoretical perspectives that involve the CAGE framework, the Uppsala Model, the Institutional Theory, the Transaction Cost Economics, and the Resource-Based View to compare five perspectives of distance and assess their advantages for practitioners. We also examine the relationship between distance dimensions and the characteristics of various issues involved in distance investigations, i.e., industry, ownership, type, motive, and timing of internationalization. We propose that distance represents the disadvantages of host countries for international location decisions; as such, it should be used in conjunction with factors that represent host country attractiveness or advantages. Our research suggests that an inappropriate selection of the distance perspective and neglect of attractiveness factors in the analysis could be additional alternative explanations for mixed empirical results in prior studies.

This study explores how different types of mandates (competence-creating and competence-exploiting) shape subsidiary coopetitive behavior and the role subsidiary managers play in this process. We conducted an in-depth qualitative study investigating 50 episodes of competition and cooperation observed across five headquarters–subsidiary relationships. Findings demonstrate that a competence-creating subsidiary mandate role tend to influence more competitive behavior, since the role brings status and prestige, whereas cooperative behavior is observed for subsidiaries involved in competence-exploiting mandate role as a response to the need for survival. By examining the influence of different mandates and the role of subsidiary managers, this study enhances our comprehension of how competence-creating and competence-exploiting mandate roles impact subsidiary behavior. Additionally, we address the crucial role subsidiary managers play in shaping the mandate dynamics within MNEs, as their aspiration for career development motivates them to engage strategically in competition and cooperation with their peers at different times. Understanding these dynamics can help MNE managers to make more informed decisions regarding resource allocation, innovation strategies, and subsidiary role development, ultimately contributing to the MNE’s competitiveness and success.

Although middle managers are crucial as change agents throughout organizations, there has been little research how middle managers’ ambidextrous behaviors affect higher level outcomes such as strategic renewal activities. Quite surprising, as job demands are drastically increasing in complexity and contradiction especially in the midfield of organizations and multi-level studies tend to better explain the effects of ambidexterity in organizations. As a result, this multi-level study explores the relationship between middle managers’ ambidexterity and strategic renewal in the business unit. We conceptualize middle managers’ upward and downward influencing behaviors as mediators in this relationship. An empirical analysis of 277 middle managers from Germany indicate that middle managers’ ambidexterity may lead to higher strategic renewal in the business unit. However, as we show a full mediation effect, this may be highly dependent upon middle managers’ level of upward and downward influence. Our findings underscore the importance of strategic influence as a mechanisms through which middle managers translate ambidextrous behaviors to higher strategic renewal performance in the unit. At the same time, we unravel individual ambidexterity as a behavioral tool for middle managers to cope with risings tensions in their strategic roles.

Multinational enterprise (MNE) subsidiaries are embedded in both their headquarters (HQ) and the host country, necessitating the fulfillment of demands from both to maintain legitimacy. This dual embeddedness can create a legitimacy dilemma when demands conflict, as satisfying one set may oppose the other. This study employs a microfoundations perspective to examine how MNE subsidiaries perceive and navigate differing CSR demands from HQ and host countries. Through interviews with 26 informants, we find that subsidiary CSR managers perceive fewer tensions between HQ and local demands but more significant tensions regarding CSR value, manifesting in conflicts between HQ CSR units and local business functions. Instead of experiencing dual embeddedness as a constraint, subsidiary managers leverage their dual embeddedness to legitimize their CSR practices. Our research contributes to the literature on MNE CSR, subsidiary management, and organizational responses to conflicting institutional demands.

Latest advances in network literature outline the growing interdependencies across multiple business networks of the MNE operating in the globalized marketplace. However, multiple network context of the MNEs used to remain faceless. Prior studies mostly adopt the local network perspective. The present study is driven by an interest in understanding the complexity of the multiple business network context: the type of network actors and the nature of their cross-border interdependencies. We also seek to empirically explore how the MNE leverages multiple network connectivity to pursue its business development. The empirical study is based on three case studies with 34 interviews conducted with the respondents from the HQ and several foreign subsidiaries within each case firm. The findings provide the insights about the nature of cross-country interdependencies within the international customer network of the MNEs (1), suggest a nuanced perspective of local embeddedness (2), expand the conceptualization of multiple embeddedness patterns (3).

This study aims to explore the challenges faced by multinational corporations (MNCs) when they plan to move from traditional organizational structures to agile ones at the subsidiary level. We focus on reducing organizational hierarchies in an environment in which respect for social hierarchy is culturally engrained. Thirty-two in-depth qualitative interviews with Korean-subsidiary-level decision makers of German and French MNCs are conducted. Our findings show that some subsidiaries failed and reintroduced their former hierarchy-oriented organizational design. Others succeeded in building agile structures and flattened the organizational hierarchy through job title remove in the Korean subsidiaries. This study has identified the challenges in building the agility in the Korean subsidiaries of European MNC, which is related to the interplay between formal and informal hierarchies. We further suggest an agility matrix that assists change leaders to identify suitable options for their subsidiaries to become agile. Further, we develop a process model for subsidiaries of MNCs to implement agile features across seven stages in their agile transition journey.

The purpose of this paper is twofold. Firstly, it seeks to explore the perceptions of the dynamics of power and potential shifts in governance they generate in a producer-driven industry. Secondly, it aims to identify how subcontracting SMEs, faced with changes that are raising into question their local big contractors’ dominance, strategically respond to this new Global Value Chain (GVC) reality. The methodology is based on a design of narratives and a qualitative case study of four subcontracting SMEs from the upstream segment of the space industry in France. Our findings reveal the way the transformative force of dynamics of power in the space industry initiated in one country (USA) is perceived and operationalized in other countries (France, Europe) that are implicated in the GVC. Secondly, we demonstrate that these dynamics, although visible at all levels, do not result in a change in governance and instead create uncertainty, which constitute sources of friction for subcontracting SMEs. Thirdly, we expose SMEs’ strategic responses to these frictions, which are based on increased engagement in technology and international expansion. For this purpose, subcontractors maintain solid relationships with local prime contractors whilst structuring innovation capabilities and increasing network visibility on foreign markets.

This study explores how multinational firms configure their subunits operating in diverse intellectual property rights (IPR) contexts. While prior research suggests that partitioning decision rights can mitigate misappropriation risks, we argue that decision delegation more aptly reflects the balance between knowledge protection and creation. We propose that the effect of IPR differences on decision delegation is mediated by subunits’ knowledge strategy, namely local knowledge openness and internal supply flows. These arrangements suppress the direct influence of IPR. We find support for our arguments from data on 401 foreign subunits. This study advances understanding of the complex considerations shaping decision delegation in multinational firms as corporate parents configure subunits for competitiveness. The findings highlight the importance of aligning strategies and structures to manage diverse institutional conditions.

This viewpoint piece seeks to advance the understanding of game-changer business models and emphasizes the need to scale them globally to tackle grand challenges. It explores factors that facilitate (or constrain) their global scaling and how they harness Industry 4.0 technologies in addressing grand challenges. The paper draws on existing literature from global scaling and sustainable business model innovation research to outline a conceptual framework. This framework includes their facilitators (or constraints), how they employ Industry 4.0 technologies to transform their business model components, sustainability outcomes and their various manifestations. To exemplify the framework, the paper provides four case examples from the energy sector. The proposed conceptual framework is instrumental for international business scholars to empirically investigate and enhance the understanding of game-changer business models. Furthermore, the paper offers managerial and policy implications to facilitate the rapid scaling of these models.

Consumer boycotts have a long history as expressions of dissatisfaction with organizational tactics, government policies, or social issues. However, existing models of boycott motivation are incomplete, focusing solely on beliefs and attitudes. To address this gap, this article investigates Portuguese consumers’ boycott of Russian products in response to the ongoing conflict in Ukraine. The study examines the impact of six different variables on Portuguese consumers' intention to boycott.

A survey allowed the collection of 163 valid responses that were analyzed through Structural Equation Modeling. The results reveal that the primary trigger for Portuguese consumers to boycott is the desire to make a difference. Animosity towards Russia and social influence also play significant roles, while perceived effectiveness, ethical idealism, and counterarguments were not significant in the decision to boycott.

The findings provide a detailed analysis of the motivations behind Portuguese consumers' boycotts of Russian products and complement previous studies by focusing on individual consumer perspectives rather than financial market reactions, contributing to the broader body of knowledge on consumer behavior in response to geopolitical conflicts.

For companies operating in countries facing conflict, understanding these motivations is crucial for navigating political tensions. The findings offer valuable insights for companies affected by boycotts.

This paper focuses on financial (bank) firms’ internationalization. We utilize and integrate literature from international dynamic marketing capability with business network theory. Financial firms in their internationalization quest need to offer competitive services to local customers but local regulations, lack of knowledge of local culture, and language, and other business-level obstacles such as the lack of knowledge about customers and the competitive environment of the target market hamper the path to be able to do so. Therefore, this paper aims to explore how a firm develops international dynamic marketing capability and penetrates foreign markets and networks by absorbing local capabilities into their organization. Based on qualitative case study research. We found that the focal firm already has different marketing capabilities but utilizing their business networks also can absorb local capabilities that enhance their international dynamic marketing capability and penetrate foreign networks.

Sponsoring international and global sports events is a crucial marketing strategy for corporations seeking to expand their global influence. Our goal is to analyse the sponsorship patterns in the Football European Championships between 1992 and 2024. The analysis emphasizes notable shifts in the sponsorship environment, such as the increasing importance of multinational corporations (MNEs) and state-owned enterprises (SOEs) as global sponsors. We utilized data from UEFA and other sources, analysing 151 sponsorship cases across nine championships employing cross-tabulation analyses to track trends and industry patterns.

While European and North American firms initially dominated the sponsorship landscape, Asian sponsors gradually increased their presence, reflecting regional economic growth. The dominance of manufacturing companies in sponsorships remained strong, with sectors such as Consumer Durables & Apparel regularly taking the lead, demonstrating a concentration on the consumer market. A notable trend was the rise of Asian state-owned enterprises using sports as soft power diplomacy, contrasting with the historical dominance of private enterprises. By 2024, sponsorship patterns saw a rebound in consumer-driven sectors post-pandemic, with Asia and Europe leading the way. Overall, these changes highlight evolving global economic dynamics and strategic shifts in sponsorship objectives towards brand awareness and diplomatic influence.

Helsinki is the capital of Finland, and it has enough power and resources to undertake extensive city branding strategies and actions. This study will examine the city brand of Helsinki from two perspectives: the city brand managers and those who experience the city brand. This study aims to examine the city branding of Helsinki from the city managers’ point of view and to understand how the city brand of Helsinki is perceived among international students. The study uses a mix of qualitative and quantitative research. A set of interviews with the city brand managers is conducted and a survey is distributed among international students in Finland. The most important associations of Helsinki’s brand image are the Helsinki Cathedral, the port and sea, and the cold weather. The study identifies that sustainability and functionality are two relevant cornerstones of the brand identity of Helsinki. However, other cornerstones of the city brand identity still need to be strengthened such as being free, quirky, and urban wilderness. My Helsinki website and social media are the most important media in building the city brand.

This paper investigates the impact of Internet marketing capabilities on export performance, utilising the Strategy Tripod framework to specifically consider the moderating effects of technological intensity, competition intensity, and institutional characteristics of export markets. Drawing on a sample of 500 Polish exporters from the industrial manufacturing sector, the quantitative study reveals that Internet marketing capabilities significantly enhance export performance, particularly in medium-tech sectors. Additionally, the study highlights that high competition intensity amplifies the benefits of Internet marketing capabilities, suggesting that firms in highly competitive sectors can leverage these capabilities to gain a competitive edge. Conversely, the research indicates a complex relationship between the structure of export market portfolios of exporting firms portfolio and Internet marketing capabilities, with an unexpected positive effect for exporters focusing predominantly on institutionally less advanced markets. These insights lead to the discussion of a number of implications for future research. 

This study explores (international marketing) strategies of digital platform-based scaleups focusing on critical factors that drive successful international scaling. Utilizing a longitudinal multiple case study design, we analyze two Western companies in the tourism and digital payment sectors, tracing their growth from 2006 to 2023, to understand how (marketing) strategies affect and influence international scaling. Our findings underscore the importance of identifying global unmet needs, the adoption of a hybrid strategy of global replication with local responsiveness, and the leverage of partnerships for rapid and sustainable growth. Strategic agility—rapidly responding to and anticipating market demands—emerges as critical for scaling. Finally, drawing on Ansoff’s (1965) product-market matrix, we argue that it is important to adopt a circumcentric growth, employing different combinations of growth strategy over time, to pursue and sustain international scaling. Our study also highlights tensions in international marketing strategies, suggesting avenues for future research. We contribute to the nascent literature on international scaling by detailing the unique processes and strategies that facilitate this challenging yet rewarding endeavor. Furthermore, we enhance international marketing literature by demonstrating how established paradigms can be adapted to the context of international scaleups.

Based on the resource-based view, this study investigates how marketing capabilities and marketing mix adaptation affect the international growth of manufacturing companies and explores the impact of family influence on these relationships. Data were collected from 431 Portuguese manufacturing Small and Medium-sized Enterprises (SMEs) across different industries and analyzed using ordinary least-squares analysis. The results indicate that, in general, both marketing capabilities and marketing mix adaptation enhance the international growth of manufacturing SMEs, but the influence of family weakens these relationships. Furthermore, it appears that when companies pursue a marketing mix adaptation strategy, the relationship between marketing capabilities and international growth is weakened. We also find that the family influence diminishes this moderation, thereby reinforcing the relationship between marketing capabilities and international growth.

This study employs advanced natural language processing (NLP) techniques to conduct a comprehensive computational literature review within the domain of country-or-origin (COO) research. The aim is to identify, cluster, and subsequently analyze relevant studies of COO research based on semantic similarity, uncovering the evolution and structure of extant research communities that developed over time. We apply cutting-edge NLP methodologies to extract and process textual data from scholarly articles spanning several decades. Through semantic clustering, we delineate prominent research themes and their development trajectories within the published COO research domain. Our findings reveal several distinct communities of studies and their evolution, highlighting pivotal studies and influential development trends. We conclude by proposing a future research agenda based on gaps identified through our computational analysis. This study contributes to both methodological advancements in computational literature reviews and substantive insights into the evolving landscape of COO research.

This study focuses on the transaction cost implications for firms with private equity ownership within developing economies. Focusing on a recently advanced emerging market private equity business model, we develop this through the application of the ownership competency theory of Foss, Klein, Lien, Zellweger & Zenger (2021). Our sample is unique and hand-collected 146 listed firms from eight national Caribbean securities exchanges. We find private equity ownership increases firm transaction costs, as reflected in estimated bid-ask quoted price spreads, which is negatively moderated by both the firm having a related party located in an offshore jurisdiction and the adoption of shareholder value governance. Our analysis sheds light on PE financing’s impact in stimulating entrepreneurial regeneration of small island economies and facilitating further broader investment, as well as maturity and exit in PE investment cycles

Financial management concerns decisions regarding retained earnings, debts, investments, dividends, valuation, cash-holding, and other transactions impacting firms’ financial status. Building on the theory of institutional logic, we propose a reformation of financial management informed by stakeholder capitalism, replacing the current practice rooted in ideas of shareholder capitalism. By prescribing a mindset valuing the margin of safety, we gainsay conventional financial thinking and the ultimate strive for financial efficiency and profit maximization. We justify such a shift in practice by portraying predictions as treacherous and the conventional understanding of risk as hazardous. Although we recognize that financial decisions are contextual and influenced by circumstances, we advocate for a generic mindset striving for financial sufficient before financial efficiency, intending to engender increased global economic resilience. As a result, we rationalize the need to replace the current mathematical optimization doctrine with a sufficient doctrine recognizing firms’ responsibility toward stakeholders and society. Anchored in such a mindset, we propose eight guiding principles for the global practice of financial management that we believe will contribute to a more economically sustainable society.

This study investigates the impact of foreign exchange reserve accumulation on corporate leverage, focusing on the moderating roles of global diversification and the exchange rate correlation within subsidiary networks. Using data from Chinese listed firms from 2011 to 2023, a positive effect of foreign exchange reserve accumulation on leverage is found. Employing a policy shock, i.e., China’s foreign exchange rate regime reform in 2015 which led to a sharp decrease in foreign exchange reserves, this study identifies an asymmetric treatment effect of the decrease in reserves led by the policy shock on firms with different subsidiary network exchange rate correlations. Notably, firms with subsidiaries in less correlated host markets exhibit lower sensitivity of leverage to reserve changes. Meanwhile, global diversification shows a weak and ambiguous influence on this sensitivity.

In this systematic literature review, we analyze 203 articles on the topic of identity, identity work, or identification in the context of multinational corporations (MNCs) or MNC-related phenomena, published in major international business (IB), international management (IM), and management journals. The purpose of this review is to synthesize the literature and identify different conceptualizations of identity found in IB literature related to MNCs, and to further explore the phenomena covered, research methods used, and the epistemological assumptions employed in connection to these conceptualizations. Through a qualitative content analysis of the identified articles, we explicate four conceptualizations of identity in the context of MNCs: (1) identity as a static, pre-given or acquired individual or collective characteristic (essentialist conceptualization); (2) identity as identification with a group, unit, or organization (relational conceptualization); (3) identity as individual or collective identity work, doing identity, and resistance (discursive conceptualization); and (4) identity as regulation, subjugation, domination by others and/or the environment (e.g. ideology) (power-laden / ideological conceptualization). Based on an analysis of these conceptualizations, we put forward a future research agenda for identity research in and around MNCs.

Drawing on identity theory, we conceptualize repatriates’ knowledge provision as a means to enact their international employee identity. We expect that repatriates’ international identity strain makes them less likely to provide international knowledge to their colleagues, leading colleagues to consider this knowledge as less useful. Our study of 91 repatriates and 118 colleagues shows that knowledge provision mediates the negative relationship between repatriates’ identity strain and colleague perceptions of knowledge usefulness. Further, the negative consequences of identity strain persist at low levels of repatriates’ self-efficacy and colleagues’ trust in the repatriate but disappear at high levels of either moderator.

Previous research has thoroughly explored how informal networks contribute to creating and reinforcing gender inequality in the workplace. However, it has only begun to shed light on the micro-level processes that lead to gendered networks/networking. This paper employs a feminist constructionist perspective on gender and looks into how a social networking practice in China – cigarette smoking – was spatiolinguistically enacted and negotiated as a deeply masculine, legitimate organizational practice. Drawing on an ethnographic study in the Chinese R&D unit of a Finnish engineering multinational, this paper illustrates how the act of smoking, the smoking room, and the smoking circle collectively reinforce and perpetuate a societal-level ideology of masculinity, thereby contributing to the exclusion of women from core networks. Our paper not only shows informal networks (including guanxi) as emplaced, embodied, discursive practices that are simultaneously gendered and gendering, but also highlights their interaction with broader sociocultural contexts. This study contributes to the development of inclusive corporate policies, highlights the significance of informal spaces in perpetuating the gender order, and calls for a multidisciplinary agenda that could be potentially valuable for theorizing gender in management studies.

The green deal policy aims to decarbonize economic growth by 2050. Green economic growth might be an important element of development strategy for the EU countries. But EU has disparities and gaps in reducing carbon emission and in achieving green growth even though they do use coherent policies. This is due to their differences in macroeconomic conditions (labour, capital, GDP) and of targeted implementation of the sustainable development goals. In this paper, we explore the effects of greenfield investment on green economic growth. In particular, we examine the potential nonlinear impact of greenfield FDI investment on green economic growth and the mediating effect which could be caused by other variables such as corruption, governance efficiency, regulation, and economic openness. Results point to non-linearities in all groups examined. This means that greenfield FDI may affect positively and negatively green growth based as it accumulates. Obviously, the regulatory framework and institutional quality of countries plays a key role on these effects, hence there is room for policy consideration and intensification.

The increasing global focus on environmental issues has led governments and public institutions to enforce stricter regulations in recent decades, pushing the private sector towards eco-friendly solutions and innovations. While some scholars posit that stringent environmental policies cause polluting industries to relocate to countries with less rigorous standards, other research emphasizes that government pressure is crucial for achieving environmental goals and reducing private-sector impacts.

This study assesses how environmental policy stringency influences eco-innovation performance in firms headquartered within a country. Using descriptive statistics and data from the COR&DIP database and the Environmental Policy Stringency (EPS) index provided by the OECD, the study finds a small positive effect of policy stringency on eco-innovation performance. It also underscores the importance of accurately analyzing historical environmental policies to gauge their impact on private sector innovation. The findings contribute to the literature on national environmental policies and eco-innovation, offering valuable insights for companies navigating environmental regulations and policymakers developing effective regulations to encourage green technologies.

Academia has long played an essential and interwoven role in fostering economic growth and business development, often on an international scale. As global economies increase in complexity, they face a variety of economic and humanitarian challenges that must be addressed through strategic and timely policy development. Sectors such as healthcare, housing, and energy are experiencing crisis-level demand in most developed economies, exacerbated by the ongoing global green transition. The Triple Helix Model of Innovation, which elucidates the interplay between Government, Industry, and Academia, has significantly advanced our understanding of how innovation is produced and sustained. This study explores whether strategic changes in

public policy can be utilized to accelerate the rate of innovation within the Triple Helix model or if such efforts might disrupt the natural balance and stifle innovation. By examining innovation metrics, considering the degree of interaction between Triple Helix actors, and analyzing strategic policy interventions, the research herein aims to advance the understanding and utilization of these dynamics. The findings will provide critical insights and support policymakers seeking sustainable economic growth through informed and effective policy decisions.

A company’s decision to internationalize is influenced by a multitude of formal and informal institutions. While current institutional constraints are extensively studied in the IB literature, past institutional influences are often neglected so far. We aim to fill this research gap by investigating the effects of institutional legacies from the communist and capitalist eras on the FDI strategies of German firms. Germany is used as a natural experiment setting to examine differences in the internationalization of small and medium-sized enterprises (SME) within two institutional fields: East and West Germany. Building on neo-institutional theory, we suggest that isomorphism leads to similar firm behavior within each institutional field. We expect that due to the socialist legacy, East German SMEs are less internationalized than West German SMEs. Based on an empirical analysis of 2,437 SMEs, our hypothesis is largely supported. Our findings indicate that firms in the former communist area exhibit distinct internalization strategies compared to those in the capitalist area, suggesting the persistence of institutional legacies.

Civil discourse on social media provides an unfiltered and democratic reflection of a company's stance on controversial sociopolitical issues. Our analysis of social media discussions from 2005 to 2024 offers insights into public perceptions of corporate sociopolitical activism. From 2008 to 2024, there was a notable increase in posts discussing how technology companies manage their workforce and adhere to ethical labor practices. Positive sentiment slightly outweighed negative sentiment overall, but negative sentiment regarding employee compensation and management increased post-2021. In the social practice and politics theme, there was a decrease in neutral posts between 2021 and 2022, indicating more polarized opinions and stronger public reactions to significant events. This study highlights that social media discourse analysis enhances our understanding of corporate effectiveness in engaging with societal stakeholders on contentious issues.

Over the past few decades, Central and Eastern Europe (CEE) has emerged as a crucial geopolitical area holding a significant potential for advancing international management scholarship. Its potential as a testing lab for old theories and springboard for new theories was emphasized by many scholars since the early 90s (Puffer, 1994; Elenkov, 1998; Puffer, McCarthy, Zhuplev, 1998; ) and underlined especially in the notable paper by Meyer & Peng (2005: 600-601): “CEE provides and interesting laboratory for developing and testing theories, because the transition processes provide a series of unique societal quasi-experiments. Even among emerging economies, CEE is special owning to the radical switch from central planning to market competition and high degree of industrialization”. However recent reflections question whether CEE has lived up to its promise as a hub for innovative research in international management.We propose in our panel to do discuss this issue, evaluate the stock of IB results and focus on three topics that CEE region might become particularly suitable location to study: the importance of political ties and capabilities, nationalism and populism, and pivoting international strategies and risk management during the time of sanctions, conflicts and wars.

An important challenge for climate policy is to encourage the transfer of climate-friendly technologies to countries at the periphery, where firms often still use less innovative and more outdated technology. Licensing out foreign technology to these firms could represent a promising channel, but it remains unclear what periphery country firms do with the technologies they obtain through licensing agreements, and under what conditions they actually take measures to reduce their environmental impact. I aim to address these unknowns by developing an ability-motivation-opportunity framework of periphery country firms’ adoption of environmental measures following the transfer of licensed foreign technology, for which I draw on insights from literature on resource recombination, instrumental stakeholder theory, and the attention-based view. Testing my framework on a sample of 2,237 firms from 30 countries in Eastern Europe and Central Asia, I find support for my framework. My study thereby sheds new light on the conditions under which the international transfer of technology to small- and medium-sized firms at the economic periphery leads these firms to more extensively adopt measures to reduce their environmental impact, and offers a more nuanced perspective of international business’ impact on the climate and sustainable development more broadly.

Green ventures should play an important role in the needed transition towards more environmentally sustainable economies. Theoretical arguments on the relative sustainability of new ventures are often conflicting, however, and empirical evidence is limited. We address this debate by analyzing the adoption of environmentally sustainable practices by new ventures, including the potential moderating effects of the use of digital technologies (DTs) and participation in global value chains (GVCs). Using EU-wide data, we find that new ventures are on average less likely than mature organizations to adopt sustainable business practices. This suggests that a ‘sustainability learning curve’ exists and that organizations need time to develop environmentally efficient products and operations. We also find that Blockchain technology and GVCs positively moderate the ‘new venture-sustainability’ relation, shortening the learning curve and enabling sustainability upgrading in new enterprises. A key finding of this study is that a small but relevant sub-group of new ventures—born with digitalization and a global outlook imprinted in their DNA—are leading the way to environmentally sustainable business operations.

In this study, we examine how increasing climate risk in potential host locations impacts MNEs’ location choice for foreign direct investments (FDIs) and consider how the network contingencies, the connectedness of MNEs in the industrywide collocation network, and the connectedness of MNEs' country of origin (COO) in the global outward FDI network, moderate this relationship. using a novel dataset from the global automobile industry between 2003 and 2019 we argue and demonstrate that the negative externalities of climate risk reduce the likelihood of MNEs locating their FDI in high-climate-risk locations. Further, we find that increasing COO connectedness increases the MNEs’ informational advantages and amplifies the negative impact of increasing climate risk in host locations on MNEs' FDI location choices. Thus, MNEs from more connected COOs are less likely to locate their FDI in high-climate-risk locations. However, the increasing MNE connectedness increases isomorphic pressures and imitative tendencies among collocated MNEs. This attenuates the negative impact of increasing climate risk in host locations on MNEs' FDI location choices. Thus, MNEs more embedded in FDI collocation networks are more likely to locate their FDI in high-risk locations.

Internationalizing research and development (R&D) activities allows firms to access diverse knowledge and expertise, enhancing their innovative capacities. While advanced economy multinational enterprises (AMNEs) have historically led in R&D foreign direct investments, emerging-country multinational enterprises (EMNEs) are increasingly engaging in this trend despite facing challenges such as regulatory restrictions and a lack of firm-specific advantages. By investigating the evolutionary journey of EMNEs, particularly from restrictive outward foreign direct investments (OFDI) environments, this exploratory case study seeks to understand how these firms navigate and succeed in the global R&D landscape compared to their advanced counterparts. A process-tracing approach explores the evolution of the R&D internationalization trajectory of both firms. Our case company from an emerging country with a restrictive regulatory environment uses resource augmentation through collaborative partnerships to engage in R&D internationalization and innovate despite financial restrictions. Conversely, a company from a supportive advanced economy benefits from direct investment from its home country and follows a traditional R&D internationalization strategy. These strategies highlight the importance of contextual factors in shaping firms' paths to enhance their competitive edge and innovative capacities, particularly for emerging country firms overcoming regulatory challenges to catch up with AMNEs.

How does a business group’s level of diversification influence the international growth of its affiliated firms? This question extends beyond the corporate diversification literature given the unique features of business groups (BGs), and at the same time it engenders questions about whether BGs possess resources that can be transferred across its affiliated entities to facilitate their growth. We argue that certain specific resources within a BG that emerge from group level diversification can facilitate the overseas equity-based expansions by its affiliates. We introduce two group-level contingent resources: (1) foreign market knowledge and (2) foreign technology knowledge. We test our posited relationships using data on the international subsidiary establishments of 3,204 Indian BG affiliated firms in the 2006–2014 period.

This work aims to explore the theoretical foundations supporting scientific progress regarding the challenges faced by SMEs in emerging markets during their internationalization process, particularly in the context of a digitized global economy. The central focus of this research is to thoroughly analyze the dynamic capabilities of the international entrepreneur, considering them as a crucial to optimize the utilization of resources, focus on international returns. The intensive use of the Internet and new information has introduced new business models and innovative forms of business management.

To identify the most relevant topics for research, bibliometric analysis and metanalysis are conducted on major scientific databases. This allows identifying the main topics, as well as the most relevant theories and schools studying the addressed issues. The empirical research focuses on Peruvian companies with the participation of 156 interviewees.

The results emphasize the role of the dynamic capabilities of managers in the impact on international performance. Conclusions from pilot survey and interviews highlight the urgent need for managers to acquire soft skills and specific knowledge in international trade and business. The importance of training in specific phases of the internationalization process, and how dynamic capabilities become a positive key factor for international business success

This paper explores the relationship between institutional quality and the internationalization of emerging market firms (EMFs), focusing on the role of digital technologies, particularly mobile money, in Sub-Saharan Africa. Two divergent perspectives exist: one that argues stronger institutions facilitate internationalization, and another that contends institutional voids drive EMFs to international markets to escape domestic challenges. By analyzing a dataset from the World Bank Enterprise Survey covering 5,346 firms across 16 Sub-Saharan African countries from 2012 to 2020, we propose and find that institutional voids are positively associated with the adoption of mobile money. Moreover, mobile money significantly enhances the internationalization of these firms by reducing export costs, improving access to financial services, and facilitating cross-border trade. Our findings suggest that digital technologies mediate the relationship between institutional voids and internationalization, providing a potential resolution to the "institutions-internationalization conundrum." This study contributes to the international business and emerging markets literatures by highlighting the critical role of digital solutions in enabling EMFs to overcome institutional challenges and successfully enter foreign markets.

The proposed panel champions the need to re-evaluate current knowledge and challenge traditional wisdom in the area of corporate political activity (CPA) in MNEs – by providing a novel multilevel conceptualization in this area. Mirroring the EIBA 2024 Call for Papers, we seek to uncover new insights into the political roles and activities of MNEs – by emphasizing the neglected but key role of the micro-level managerial actors. The key role of influential corporate actors can be observed by several recent examples of influential individuals in international firms – such as Elon Mask in Tesla, Sam Altman in Open AI, Bill Gates in Microsoft, Ren Zhengfei in Huawei, and others. These micro actors and their political activities may play a significant role for their MNEs global political influence – and eventually their approach in dealing with global grand challenges in both home and emerging markets. In addition, macro level factors such as trade wars, policies at the macro country level, political social responsibility initiatives or new regulations fighting greenwashing, may act as key contingencies on how these actors influence MNE political behavior. The key role of these actors in affecting MNEs' CPA in developed and emerging markets will be discussed.

The purpose of this panel is to offer a forum to discuss how to foster young and mid-career scholars to develop interesting research and career. There is a large body of literature as well as training manuals on young and mid-career scholars’ competence upgrading and career development. However, this panel differs from most other existing contributions to this and other similar topics in terms of four aspects.

First, all the panelists have been earlier and/or are currently involved in the Young IB Scholars Workshops organized annually since 2021.

Second, we view young and mid-career scholars not only as people who are in need of care, attention, and assistance, but also as potential problem solvers.

Third, we discuss the importance of producing more disruptive knowledge in IB research that has the vision and courage to doubt, question and challenge established theories, assumptions and paradigms.

Fourth, we link research to career development by discussing, among other things, if and how interesting research can lead to the researcher’s interesting and sustainable career development in the IB world.

The COVID-19 pandemic was a catalyst for the growth of online and hybrid instruction. Demand for online and hybrid IB and management courses at colleges and universities is at an all-time high. But while the quantity of such courses has increased dramatically, their quality has often lagged, with both students and faculty expressing frustration at the limitations imposed by Zoom and other technological platforms. Meanwhile, the advent of new technologies such as ChatGPT has made it easier than ever before for students to engage in cheating and other forms of unethical conduct. With that in mind, we propose an online/hybrid teaching perspectives panel that will examine recent technological trends in online IB education and instructor strategies for making online courses richer, more interactive, and more engaging for students.

Editors: Rebecca Piekkari and Catherine Welch

The book introduces the Helsinki Model of internationalization processes of the firm to a global audience. This model was originally developed by Reijo Luostarinen, who was Professor at the Helsinki School of Economics. Luostarinen’s research is one of the neglected treasures of the field of international business. It has been overshadowed by the Uppsala Model, which is the better-known process model of firm internationalization from the Nordic region. Yet the Helsinki Model has much to offer. Grounded both in a uniquely comprehensive longitudinal study of the internationalization of Finnish companies and Reijo’s practical experience of working closely with companies and policymakers, the Helsinki Model portrays firm internationalization as a systemic organizational change process of the entire company. In this book, contributors explore Luostarinen’s legacy, and show how it can be used to re-energize the research agenda on firm internationalization processes.

The understanding of ecological systems requires to clearly comprehend spatial scales and scaling, through time (Bitsch 2024b). Understanding coexistence, requires accounting for context. Issues of management require predictions on a range of timescales for time internalization (Bitsch 2024a). In business it is very seldom discussed the biological relevance of emotions, because these are assumed to be irrational, often natural, mostly contextually-relevant. Yet emotions can only be considered irrational to the extent that their microbiological metabolic origins remain voluntarily blinding. Emotions are produced through the biological signaling of the immune system. An informed brain is ultimately able to influence, which microbial cell will survive in the cell forming symbiosis (Berry 2019, 2022) giving birth to further energy flows, induced by the visceral system (Sonnenburg & Sonnenburg 2015); some neurological pathways are not responding to the microbiome signalling (Sharon et al. 2016).

The paper is a review on the role of the emotional aspect in the main journal of IB, the Journal of Internaltional Business Studies. The contribution of the paper is to introduce: the business relevance for Life sciences, the understanding of the microbiological origin of emotions.

In the wake of rising refugee movements, savvy business leaders see potential in integrating refugees into their workforce, both as a way to help others and to address labor shortages. But most managers have minimal experience integrating refugee employees, leading to outcomes ranging from triumphs to trials. This poster explains how companies can succeed in refugee workplace integration by drawing lessons from a three-year case study of a refugee integration program at a German manufacturing firm during a significant period of refugee arrivals. This poster presents a process model aimed at providing actionable guidance for practitioners involved in workplace integration.

High-technology firms and their internationalization process have been a controversial topic in IB and entrepreneurship fields. Studies indicate that the internationalization process and technology development process are closely intertwined and have an influence on each other. In other words, it is not possible to fully understand a company's international growth without considering how its technology developed. In a similar vein, understanding a firm's technological development requires considering its international activities (Filipescu et al., 2009).

The purpose of this dissertation is to contribute to knowledge on the internationalization patterns of firms with new-to-the-world technologies and to highlight the uneven and discontinuous nature of their internationalization. Moreover, despite the increasing number of high-tech firms with technology at the highest degree of novelty, the understanding of to what extent the process of developing a new technology affects a firm internationalization seems to be both unclear and inadequate. This research project aims to contribute to the evolving discourse and provide the needed theoretical contribution to the field by unboxing the construct of a high-tech firm’s internationalization process on both early-stage startups and multi-national enterprises.

As the nature of international assignments and work becomes increasingly dynamic, short-term assignments have emerged as a form of expatriate assignment that provides pivotal experiences that contribute to an individual's career capital. This qualitative study uses experiential learning theory (ELT) to explore how career capital is developed during short-term assignments. It aims to provide insights into how these assignments can be strategically used for career advancement and professional growth.

By applying ELT, we clarify the processes and mechanisms through which experiential learning in these contexts enhances career capital, providing insights into the interplay between structured learning processes and career development. Integrating ELT principles into career development practices offers a robust framework for understanding short-term assignments as an organizational phenomenon while expanding the literature on career capital development in international assignments.

The study design methodology and approach draw on in-depth interviews with short-term assignment participants within organizations to explore how ELT components like concrete experiences, reflective observations, abstract conceptualizations, and active experimentation within these assignments contribute to an individual's career capital development.

The findings of this study have significant implications for academics, individuals and organizations. Organizations can use these insights to design and implement short-term assignments that foster better employee experience, development and retention.

The work seeks to propose a methodology that allows characterizing the Deep Tech ecosystem in emerging economies, prioritizing the research and development niches of Deep Tech entrepreneurship. The main actors or potential public and private actors of the Deep Tech entrepreneurship ecosystem are identified, and designs a survey that allows access to information that allows describing and delving into the characteristics of the actors in the ecosystem. In this way, indicators can be designed and applied to evaluate the Deep Tech entrepreneurship ecosystem based on the components: public and private financing for different stages of maturity of the ventures, capacity to produce research or technological results, demand analysis. market of prioritized verticals.

Drawing on both Bourdieu's social and human capital theories, follows a two case study analysis to examine how Palestinian and Sudanese refugees harness skills to boost community and social-economic well being in France. Data was collected from 22 semi-structured interviews with refugees and refugee support service providers. Results reveal seven thematic categories : The first four categories include, (i) structural in the form of incubator internal and external networks, (ii) cognitive and symbolic, (iii) relational capital such as cultural-ethnic, diaspora, transnational, and host community networks in addition to (iv) human capital resources such as past entrepreneurial habitus and educational background. The second thematic categories are related to Palestinian and Sudanese refugee entrepreneurial contributions to the social and economic welfare of their target groups. These are aggregated into (v) ethnic enclave contributions, (vi) community contributions, and (vii) host country contributions. study exposes the new realities in refugee entrepreneurship research by integrating social and human capital perspectives to address how Palestinian and Sudanese refugees leverage their skill sets to benefit their communities. This study adds to scholarhsip by demonstrating how refugee ventures contribute to the social and economic welfare of their host economies beyond their local refugee communities .

Despite growing awareness of the gender funding gap in entrepreneurship, significant disparities persist in startup funding between female and male-led startups. To investigate the varying reasons for this, our systematic literature review (SLR) aims to consolidate research on the gender funding gap in the startup ecosystem. We analyze 139 studies from leading academic journals using a hybrid bibliometric and Theory-Context-Characteristics-Methodology approach. Our bibliometric coupling identified six thematic clusters: 1) Gender bias of investors, 2) Gender disparities in funding, 3) Crowdfunding success for females, 4) Cultural context and influences, 5) Female characteristics and language, and 6) Other environmental factors. The review reveals that female entrepreneurs face systemic biases when applying for funding exacerbated by gender homophily, cultural norms, network barriers, and investor behavior. Furthermore, we highlight cultural differences, showing that irrespective of a country’s economic development females are consistently more disadvantaged than males. Crowdfunding, however, mitigates gender inequalities and supports female-like behavior. This review deepens understanding of the gender funding gap’s origins, offering a framework for future research and action. Policymakers, investors, and support organizations can leverage these findings to promote equal startup ecosystems. Future research should examine the impact of long-term bias and develop strategies to support marginalized entrepreneurs.

Drawing on upper echelons theory, we argue that target firm CEO aesthetics play a meaningful role in M&A deal making. Considering the halo effect that may produce fairer treatment toward attractive individuals, we argue that those M&As with more attractive target firm CEOs will be perceived as more worthy, promising, and profitable. As such, those M&As will receive higher a premium compared to those with less attractive CEOs. Additionally, drawing upon the information economics literature, we argue that the positive association between target CEO attractiveness and acquisition premium will be more pronounced in the presence of higher information asymmetry (unrelated, cross-border acquisitions) when acquirers need to rely more on publicly available signals of target quality. Finally, integrating social identity theory, we argue that acquirers who perceive target firm CEOs to be more similar in terms of attractiveness will see more value in the target and thus pay a higher premium. We are collecting data on M&As between 2010-2019 from the Securities Data Company database, matched with financial and market return data from the COMPUSTAT and the Center for Research on Securities Pricing, and with hand collected CEO pictures.

Global Virtual Teams (GVTs), comprised of geographically dispersed individuals, face challenges related to conflict resolution and sensemaking. The integration of Artificial Intelligence (AI) into these teams introduces new complexities, altering team communication and problem-solving processes. While task conflicts can enhance team performance, relationship conflicts often undermine cohesion. This research addresses a significant gap by investigating how AI impacts conflict dynamics and sensemaking in GVTs. Drawing on sensemaking theory (Weick, 1995) and conflict theory (Jehn, 1995; De Dreu & Weingart, 2003), the study explores the role of AI in managing task, process, and relationship conflicts. Using socio-technical systems theory (Baxter & Sommerville, 2011), the study further examines how AI facilitates communication and conflict resolution while exploring the limits of AI in emotionally charged conflicts. The research objectives focus on how AI alters sensemaking, how it is perceived by human team members, and how it can contribute to effective conflict resolution strategies. Through a mixed-methods approach, this study proposes an AI-Integrated Conflict Sensemaking Model that highlights the potential benefits and limitations of AI as a mediator in GVT conflicts.

This poster shares a fresh methodological proposal for conducting multiple case study analysis in management research, incorporating the use of abduction and mind maps. Case studies are vastly used in management research, with Eisenhardt and Yin regarded as the two dominant authorities. While their works have contributed significantly to positioning the case study as a legitimate approach, critical scholars have noted limitations to their propositions by being positivist and linear and thus serving only one type of case study research. Another pitfall is that case researchers have sometimes turned to the mechanistic implementation of a technique with concrete procedures or templates. Being wary of this trend and acknowledging the contextual richness of case studies, I propose one alternative method that incorporates an abductive approach to the analysis of case study evidence, to conduct within-case and cross-case analysis with the use of recordings and mind maps. It allows keeping two conversations active and alive for a longer period. First, the use of recordings during analysis keeps the dialogue between researcher and participants alive, bringing the former back to the instance in which that conversation took place. Second, an abductive reasoning approach enables an active conversation between theory and empirical evidence.

This study examines the role of public funding in promoting internationalization and gender equity in university spin-offs (USOs) from the State University of Campinas (Unicamp) in Brazil. Using data from Inova, Unicamp’s technology transfer office, it explores how gender affects spin-offs’ international expansion, particularly regarding access to funding and collaborations. Public funding, especially from the São Paulo Research Foundation (FAPESP), is critical in fostering internationalization for technology-driven ventures. Spin-offs with public investment are more likely to engage in global activities. However, gender disparities remain, with male-led spin-offs more frequently involved in international ventures. Public funding helps bridge this gap by enhancing collaboration between spin-offs and universities, supporting female-led ventures' growth and international ambitions. The research highlights the need for gender-responsive policies that support global expansion and inclusivity within entrepreneurial ecosystems.

This study aims to investigate the relationship between the level of allocation of corporations' employees abroad of their home country and their foreign sales. Given the increasing mobility of employees and the unstable geopolitical situation in the world, an important and interesting aspect for research in this area is to understand for companies how such mobility can affect companies' revenue. Given such data, companies can plan how, by allocating employees to international subsidiaries, they can improve their financial performance. The sample of the top 100 largest non- financial corporations ranked by foreign assets for 2023 by UN Trade and Development (UNCTAD) was selected as the sample for the study. The results of the study showed a high positive correlation between the ratio of companies' foreign employees and foreign sales in this sample.

It is well established that firms’ internationalization journeys often exhibit irregularities, including foreign market exits and re-entries. The role of critical events or discontinuous ‘happenings’ that affect firms’ internationalization pathways is less well-understood. Based on a qualitative study of Brazilian exporters, our study sheds light on how irregular and interrupted internationalization ensues, why this occurs, and what triggers firms to exit and re-enter international markets. We advance the view that interruptions to internationalization journeys are often triggered by critical events that emerge at environmental, organizational, and individual levels and are novel, disruptive, critical, and bound in space and time.

The international opportunity identification (IOI) has become a central concept in International Entrepreneurship (IE) and International Business (IB) literature, and there is now a critical and disperse mass of literature related to this concept that needs to be organized and critically analyzed. Following a narrative review on its conceptualization, its levels of analysis (“the company” and “the individual”) and its two perspectives (active and passive IOI), this study pretends to consolidate the existing body of information on IOI through a systematic literature review (SLR) employing the SPAR-4-SLR methodology. Specifically, from a multilevel and multi-perspective analysis, I focus on (i) analyzing its antecedents and effects on subsequent stages of the international entrepreneurial process and firm performance and (ii) examining the different measurement approaches used to measure IOI, an issue that generates constant debate regarding this concept. To this aim, an extensive search was conducted using the Web of Science and Scopus databases, carefully selecting 104 publications related to IOR from 2004 to June 2024. I would like to emphasize that this study is in an early-stage of development, specifically in the assessing stage (evaluation sub-stage) of the SPAR-4-SLR methodology.

Multinational teams, characterized by members with diverse linguistic backgrounds, commonly select a shared working language, often English. While existing research has predominantly highlighted the negative impacts of foreign language use - such as trust issues, power struggles, and anxiety - little attention has been paid to how team members navigate and overcome these challenges. This study explores the role of humor as a shared language within a multinational team, drawing on ethnographic research conducted with a six-member creative team from five nationalities using English as their non-native common language. Contrary to previous findings, humor emerged as a dominant and thoroughly positive element in team interactions, leveling out language barriers. The study identifies various forms of humor, including coping with challenges, integrating outsiders, and embracing cultural diversity through self-irony. This humor fostered inclusion and a supportive atmosphere. The findings suggest that humor can cut across cultural and linguistic boundaries, acting as a unifying force within multinational teams. Despite limitations, such as the specific team context in a low power distance country, this research offers a positive perspective on foreign language use in multinational teams, highlighting humor’s potential to enhance communication and team spirit.

This study researches how leading multinational enterprises (MNEs) are integrating responsible artificial intelligence (AI) practices into their international marketing (IM) strategies. Although there is significant discourse on AI ethics, its specific application within IM remains underexplored. Our research addresses the question: How do MNEs use AI responsibly in IM decision-making? We analyze the ethical guidelines of the top ten MNEs listed in the Fortune Global 500, evaluating the comprehensiveness of their AI-driven marketing practices against the OECD AI principles, which promote innovation, trustworthiness, and respect for human rights and democratic values. By comparing these MNEs' practices with global ethical frameworks, our study offers valuable insights into the current state of AI ethics in international marketing. The findings highlight the crucial role of ethical compliance in maintaining trust across diverse markets and identify key areas for improvement. Additionally, the research underscores the need for further studies, particularly focusing on MNEs operating in regions with stricter regulations, to better understand the implementation of AI ethics in practice.

This paper draws on emerging research on paraprofessional translators to contextualize their practices in the global operation of multinational corporations (MNCs). Paraprofessional translators are employees who, while not hired as professional translators, undertake various translation tasks in the course of their everyday work. However, paraprofessional translation is likely to vary across contexts and only a handful of context-sensitive empirical studies exist in both Translation Studies and IB. Drawing on a case study of corporate R&D centers within a Nordic engineering multinational, we identify four translatorial spaces where linguistic, cultural, organizational, or knowledge-based boundaries were crossed within our case multinational. Furthermore, our case study sheds light on the key communicative acts of paraprofessional translators, which include translation decisions relating to mundane yet synergistic tasks to more complex and strategic activities. By doing so we demonstrate how the perspective of paraprofessional translators and translatorial spaces contributes to a better understanding of MNC operations on the ground.

Digitalization and the development of artificial intelligence (AI) have profoundly reshaped international sales and marketing, particularly for technological industrial products (Fischer et al., 2022; Moradi & Dass, 2022). This study explores how small and medium-sized enterprises (SMEs) in the heating, ventilation, and air-conditioning (HVAC) industry are navigating this shift. It focuses on the challenges these SMEs face in transitioning from traditional, resource-intensive account-based marketing (ABM) to AI-driven approaches (Burgess & Munn, 2021; Burgess & Shercliff, 2022). The research identifies a gap in understanding how SMEs are integrating AI-driven ABM to overcome hurdles in international customer acquisition in a digital global market. Through a multiple case study approach involving three HVAC companies, the study employs qualitative methods including semi-structured interviews and observational studies (Yin, 2009; Creswell, 2022; Stebbins, 2001, Morgan et. al., 2016). Findings reveal that while digitalization has empowered buyers to conduct extensive pre-purchase research independently (Keegan et al., 2022), marketers must now leverage AI to provide personalized, timely responses that align with buyers' specific needs and regulatory requirements (Pascucci et al., 2023; Golec, Isaacson & Fewless, 2019). This study contributes to the theoretical understanding of how digitalization and AI reshape cross-border buyer-marketer relationships and international marketing strategies.

Business accelerators are fixed-term, cohort-based programs that provide mentorship and culminate in public pitch events. While research on accelerators is still limited, their role in driving growth and sustainability for small—and medium-sized enterprises (SMEs) is underexplored. This study examines how business accelerators can foster sustainable international growth among small Finnish companies through a Triple Bottom Line (people, planet, and profit) approach. The qualitative data was collected longitudinally in January-August 2024 from seven Finnish small companies participating in an EU-funded accelerator program.

The study reveals that the program catalyzed change, particularly in internationalization goals and strategies related to the market niches and internal processes. While financial training laid the groundwork for international expansion, the socially and environmentally focused modules enabled the development of the companies' softer business aspects. The findings contribute to the Resource-Based View (RBV) in international entrepreneurship and offer insights for policymakers on enhancing financial instruments for SMEs seeking sustainable growth. The study also informs entrepreneurs about accelerator programs' value in driving business growth and sustainability objectives.

The growing trends in natural and upscale cosmetics have prompted a deeper investigation into the brand-consumer relationship within this sector. This study focuses on the key elements that Nordic upscale natural cosmetics small- and medium-sized enterprises (SMEs) consider when forming their global brand identity and image and consumers' primary associations and perceptions regarding these brands’ identities.

Using a qualitative approach and Brand Identity Prism, we analyze two natural upscale cosmetics brands from Finland and Sweden with the data collected in the summer of 2024. Their strategic brand identity and brand image elements were holistically studied from both company and consumer perspectives. Our findings indicate that the brand identities of these SMEs are built around eco-friendly practices and natural and ethically sourced ingredients while embracing strong and visible connections to Nordic nature and particular countries of origin. Consumers associate these brands with purity, quality, and environmental consciousness while experiencing that brand personalities and interaction with the brand are currently weakly managed in both SMEs. The implications for the internationalization process and policymaking will be drawn out of these results.

The study explores the role of sensemaking in the business model innovation (BMI) of internationally operating small and medium-sized enterprises (SMEs). Sensemaking is crucial for international entrepreneurship, as it helps firms interpret complex international environments, enabling the identification and capitalization of international opportunities. The research hypothesizes that increased sensemaking positively impacts both BMI and international performance, with BMI acting as a mediator between sensemaking and international performance. Using a sample of 162 Finnish SMEs, the study applies quantitative methods to examine the relationships between sensemaking, BMI, and international performance. The results indicate that cultural sensemaking influences BMI, while communication sensemaking affects international performance. Moreover, BMI is confirmed as a mediator between sensemaking and international performance. The findings emphasize the importance of cultural competence and communication strategies for SMEs entering foreign markets. The study thus contributes to international entrepreneurship research by providing empirical evidence on the role of sensemaking in BMI and its subsequent impact on the international performance of SMEs.

There is a growing interest in involving people with disabilities (PWD) in entrepreneurial activities globally, driven by international policies and research. Geopolitical challenges, such as economic uncertainty and migration crises, have heightened the need for inclusive entrepreneurial ecosystems. However, PWD face numerous barriers, including financial constraints, limited education, and a lack of digital competencies. Entrepreneurship offers a path to economic self-sufficiency for PWD, but they often encounter institutional barriers, network limitations, and self-esteem issues, making them “missing entrepreneurs.” Inclusive entrepreneurial ecosystems, which focus on social inclusion, are essential for addressing these challenges. Our research aims to explore the role of international opportunities in fostering these ecosystems. We conducted a systematic literature review to understand the current knowledge on inclusive entrepreneurial ecosystems for PWD. Our findings highlight the importance of institutional leaders, family support, and informal networks in overcoming barriers. International opportunities can inspire and guide the development of local ecosystems, providing access to global markets and best practices. Our study underscores the need for a comprehensive approach to fostering inclusive entrepreneurial ecosystems, emphasizing the symbiotic relationship between disabled and non-disabled individuals and the critical role of international opportunities.

This study explores how different strategic orientations influence entrepreneurial decision-making in internationalizing small and medium-sized enterprises (SMEs). It focuses on three strategic orientations: entrepreneurial orientation, learning orientation, and environmental orientation. Entrepreneurial orientation is characterized by innovative, proactive, and risk-seeking behavior, while learning orientation emphasizes organizational culture supportive to employees learning. Environmental orientation in turn focuses on sustainability, which is increasingly relevant in international business. The study examines how these orientations impact effectuation, a decision-making logic central to international entrepreneurs. Additionally, the study also assesses how these orientations influence causation, a more structured decision-making logic.

Using a survey of 148 Finnish SMEs, the findings show that entrepreneurial and learning orientations positively predict effectuation, while only entrepreneurial orientation predicts causation. Environmental orientation did not significantly impact either decision-making logic. The study contributes to the literature by offering a more holistic view of how strategic orientations influence decision-making processes in internationally entrepreneurial firms, addressing a gap where previous research focused on individual orientations. The results highlight the importance of strategic orientations in explaining effectual and causal decision-making in international entrepreneurship.

In the past two decades, there has been increasing interest among scholars in sustainable careers. However, up until now, this body of research remains quite fragmented. To address this issue and to come up with well-grounded recommendations for future work, a systematic review of the existing empirical work on sustainable careers is necessary. In particular, this review focuses on two questions: 1) What indicators have been used in empirical studies to measure sustainable careers, and 2) Which key antecedents of sustainable careers have been identified. By delving into these questions, we aim to uncover the foundational elements that both contribute to and indicate one’s career sustainability. Additionally, we will analyze the theoretical frameworks that have been adopted to study sustainable careers. Finally, we propose a general future research agenda, and then two focus areas that emphasize the temporal character and international context of sustainable careers.

This study investigates how time pressure, environmental sustainability, and the country of origin image (COI) interact in the internationalization process of companies. Organizational and environmental complexity affects international performance due to time constraints in developing absorptive and adaptive capacities. Time pressure can accelerate internationalization but also introduces risks, influencing strategic decisions such as sustainable practices and the use of COI. In high-uncertainty contexts, such as those faced by companies from emerging markets, flexibility and resilience can be critical factors. The research adopts a processual and contextual approach to time, emphasizing its influence on international market permanence, sustainable adaptation, and the construction of COI as a strategic resource. Using theoretical and empirical methods, the proposal includes an integrative literature review and multiple case studies in sectors such as wine and cocoa. We contribute to international business literature by exploring the interactions between time, sustainability, and COI, and their influence on the success of the internationalization of Brazilian and French companies.

This study will examine how managerial cognition shapes decision-making in platform ecosystem internationalization, with a focus on cognitive shifts during the early stages of strategic development. While most international business (IB) research explores firm or market-level factors, this study will investigate the often-overlooked cognitive processes behind these decisions. By applying a microfoundation perspective, we will explore how fragmented cognitive frames among ecosystem participants evolve and align, shaping both platform development and internationalization strategies. The research will offer a methodological contribution by using cognitive mapping to capture real-time shifts in managers' thought processes. This approach will reveal how different experiences, firm sizes, and digital capabilities drive cognitive alignment within ecosystems. By doing so, we aim to provide new insights into how these cognitive processes impact strategic decisions in international markets. Our findings will not only bridge the gap between platform ecosystem and internationalization research but also challenge traditional data collection methods in IB, advocating for a more dynamic approach to understanding decision-making. Ultimately, this study aims to provide a nuanced view of how managerial cognition influences the development and internationalization of digital platform ecosystems.

This paper discusses the growing importance of research on international migration, focusing on the challenges faced by highly skilled migrants (HSM) in small developed countries. The study aims to examine the migration context and experiences of HSM in Finland and Slovenia, two countries characterized by strict migration policies, culturally inaccessible environments, and complex languages. The research seeks to contribute to the understanding of how formal and informal institutions, particularly cultural tightness and accessibility, shape migrants' experiences during the acculturation process. The study employs a qualitative approach and uses theoretical sampling to compare and analyze the cases of Finland and Slovenia, which share similar outcomes in terms of ineffective immigration policies for attracting HSM but present distinct cultural and institutional conditions.

This study investigates how globalisation has affected international artists in the music industry on a global scale. Analysis was carried out on the Billboard Hot 100, a dataset which encompasses the consumption of music from all over the world and ranks the top 100 songs that are globally trending. The paper has focused on three core aspects of the music industry; changes in music distribution, consumption patterns and cultural influences in order to analyse the effects of globalisation as thoroughly as the constraints of this paper have allowed. The findings of this paper concluded that only the most recent technological change — the introduction of streaming services - has made a noticeable impact on the success of international artists, the change from physical to digital (with the introduction of MP3) was not significant enough. Consumption pattern changes hold a major importance in reducing the domination of artists from the USA within global charts and giving international artists a chance to be discovered, the vast increase in ways consumers can discover music is no longer limited to country barriers or technological drawbacks, they are free to consume music internationally from their devices at home.

The paper explores the integration of real options theory (ROT) into project finance loan structures, aiming to enhance flexibility and improve risk management. Project finance is commonly used to fund large-scale infrastructure projects, which often face uncertainties and risks. ROT provides a framework for managing these uncertainties by allowing investors and lenders to adapt decisions based on changing market conditions. Through a conceptual literature review, this research identifies the limited application of real options in project finance and proposes a framework to incorporate them into loan contracts. The findings offer both theoretical insights and practical applications, suggesting a more flexible approach to structuring project finance deals.

This study aims to elucidate the characteristics of the internationalization process in indie game development organizations. While internationalization processes have been extensively researched across various organizations and industries based on frameworks such as the Uppsala model and Born Global theory, there is a notable lack of research focusing on the game industry, particularly the rapidly growing sector of indie game development organizations. The indie game market involves unique elements, including relationships with large-scale platforms and the utilization of AI technologies, suggesting that its internationalization process may be distinctive. From this perspective, this research analyzes how indie game development organizations based in Japan have internationalized and successfully diffused their games globally. The method employs qualitative analysis of secondary sources, including interviews with developers. The findings reveal the existence of multiple internationalization processes, and consequently, game diffusion processes within the indie game market.

This study aims to elucidate the recent changes in international management practices, such as overseas expansion and expatriate assignments. Research on reshoring suggests that COVID-19 may accelerate corporate reshoring initiatives. Similarly, expatriate studies indicate potential shifts in management approaches. While past studies point to various possible changes in international management practices, quantitative data on specific changes, such as the number of companies or expatriates, are seldom reported. This study reanalyzes publicly available data on Japanese companies to examine the structural changes in international management practices following the onset of COVID-19. Our analysis yields two primary findings. First, the trends in overseas expansion and withdrawal of Japanese companies since COVID-19 vary by region. Second, while the overall number of expatriates has decreased, some companies have increased their expatriate assignments.

The concept of a circular economy, which aims to achieve zero waste, is gaining momentum among many nations. Transitioning from a linear to a circular economy in the industrial sector are believed to greatly enhance global economic resilience. In this context, Industrial Symbiosis emerges as a crucial tool to facilitate the shift towards a circular economy (Herczeg et al., 2018). To address the research question: How may industrial symbiosis strengthen the resilience in global value chains? we have chosen a qualitative approach. We will investigate how companies in two different clusters (e.g. maritime and furniture) are collaborating in developing industrial symbiosis within and between each cluster. Data will be collected through semi-structured interviews of key informants of organizations in the mentioned clusters and from companies in the construction industry. The context for our study derived from observing the tremendous amount of usable waste (e.g., sand, wood, and alike) that occupies large pieces of land (or warehouses), while companies are importing similar raw materials from all over the world. These two clusters were chosen because they are among Norway’s largest exporting industries with a significant global reach. Additionally, their extensive network of suppliers is integrated into a global value chain

The purpose of this research is to clarify the factors influencing the localization of top management in subsidiaries of Japanese multinational enterprise (MNEs). From reviewing previous research on international human resource allocation, the elements required for top management in foreign subsidiaries vary depending on factors such as the subsidiary's age and role, the relationship between the parent company and the subsidiary, and the balance between global integration and local responsiveness. However, few studies have addressed the long-term transition of top management within a single company. Furthermore, quantitative research has limitations in identifying the underlying factors driving changes in top management. Therefore, this study presents a case study of Kuozui Motors, a vehicle manufacturing subsidiary of Toyota in Taiwan, to elucidate the changes in top management and the factors influencing them. As a significant finding of this study, Kuozui’s launch of exports to the GCC countries meant that the company needed to continuously enhance its organizational capabilities with a view to global competition, which became a driving factor for the localization of the CEO.

This study explores how Estonian wood manufacturing firms can successfully integrate into German value chains, focusing on alliances and digitalization strategies. Germany’s high demand for sustainable wood products and advanced manufacturing technology makes it a key target market. However, Estonian firms face challenges such as information asymmetry, regulatory compliance, and limited market access. Using firm theory, business model innovation, and Industry 4.0 frameworks, this research investigates how Estonian firms can overcome these barriers through strategic alliances, institutional collaboration, and digital platforms like blockchain for supply chain transparency.

A mixed-method approach, including qualitative comparative analysis (QCA), is employed to gather insights from interviews and quantitative data analysis. Preliminary findings suggest that reducing information asymmetry through digital tools and forming strategic alliances are crucial for successful integration. The study offers recommendations for Estonian firms to adopt Industry 4.0 technologies, pursue sustainability certifications, and actively engage in German industry networks.

This research contributes to the understanding of how small and medium-sized enterprises (SMEs) from smaller economies can enter the value chains of larger markets. Future research will evaluate the long-term impact of strategic alliances and foreign direct investment on export growth and explore the model’s applicability across different industries.

Repeated external shocks emerging from differentiated sources are posing significant challenges to multinational enterprises and to smaller firms in a wide variety of sectors and nations. The aim of this study is to explore the dynamics and possible evolutionary paths of global value chains (GVCs) in which smaller Italian manufacturing companies are involved. The study will employ an exploratory research methodology based on multiple case studies. We will create a panel of business cases with an in-depth analysis of a set of pilot case studies. We will also simulate alternative scenarios in order to highlight the different possible growth trajectories, strategies, and business models of SMEs as key actors in these GVCs. This research will contribute to the research streams studying the relational dynamics within the GVCs between lead firms and subcontracting companies. From managerial implications, this study will enable SMEs to make better-informed decisions regarding their business models and strengthen their capacity to respond to abrupt shocks within the GVC of lead firms.

This study explores how managers justify their foreign market entry decisions by examining the reasoning behind the market selection. The selection of international markets (IMS) represents a foundational decision in the firm internationalisation. Prior IMS research is either based on firm/market level drivers of the market selection identified via surveys, or on managerial factors based on interviews. We focus on identifying the dominant elements managers apply in their decision making while reasoning their decisions. By combining experimental research design both with open ended questions about reasoning and with traditional survey data about company’s past internationalisation behavior, we are able to gain deeper and richer insights regarding the decision making behind the choices made at the moment of the decision making. By examining the distinct characteristics within the reasoning process, we aim to elucidate how decisions are made, emphasising the unique elements associated with decisions and how these elements co-emerge. Through this analysis, we hope to shed more light on the ways decision-makers formulate their choices (Slovic, 1995). Results suggest subtle differences in reasoning depending on the prevailing environment and managers’ level of certainty about the success of the entry.

In the growth and capability development of organizations, exploring a wide range of technologies helps accumulate diverse knowledge, improving adaptability. However, focusing on specific areas enhances agility by allowing quicker responses to market changes. Organizations often face the challenge of balancing the deepening of expertise with expanding their exploration scope, all while managing limited resources.

In the fast-paced electronics industry, EMS (Electronic Manufacturing Services) companies in the Global Value Chain (GVC) must handle a broad range of technologies to meet the demands of rapid product introductions from brand manufacturers while maintaining agility.

This study examines the relationship between expanding exploration scope and agility in responding to environmental changes, focusing on EMS companies' challenges. It uses a qualitative analysis of Hon Hai Precision's (Hon Hai) patent data and historical records to explore how the company’s exploration scope affects its agility in R&D and capability development.

I aim to contribute to migrant research by exploring business expatriates and refugee workers in Finland. This study adds to community and social group research. Communities are rarely scrutinized from the view of symbolic boundary formation. This study of business expatriates and refugee workers gives a unique comparative view of symbolic boundary formation. The boundary formation opens the causes of being part of communities on and off the job -and the opposite, without being a part of a community. This study explores the kind of communities and loose social groups among migrants and the issues of symbolic boundary formation in different communities. The theory used in this study is based on the theory of symbolic boundaries (Lamont and Molnár, 2002; Pachucki et al., 2007). The research subjects are business expatriates sent to Finland by foreign organizations and refugee workers who have had to move abroad. Empirical research uses ethnographic and qualitative methods. Several steps are needed to be used in the analysis. Finally, a comparative approach arranges the results.

For an early internationalizing small firm, gaining legitimacy among its international customers is crucial. Legitimacy refers to the social judgment by stakeholders that an organization fulfills their expectations and is to be taken seriously. One way for new organizations to gain legitimacy is to imitate the identities of existing organizations to define who they are as an organization. This study, based on a qualitative single case study and an interpretive approach, aims to contribute to the language-sensitive literature in International Business. It illustrates how a small software-as-a-service firm, based in Finland, communicates its international identity through language choices similar to its competitors and customers, predominantly multinational enterprises based in Europe and North America. According to the company's self-description, it is indeed international as it serves customers worldwide and employs individuals who speak various native languages. However, the firm has shifted away from a multilingual approach and now emphasizes English in its external communications. Semi-structured interviews reveal a narrative where English is portrayed as the language of international firms. Consequently, the firm's language choices are a way to establish itself as a legitimate actor among other international firms.

International dynamic marketing capabilities (IDMCs) have emerged as a crucial determinant of organizational success in foreign markets. This study examines external and internal factors as antecedents of IDMCs, focusing on a sample of Polish export manufacturers (n=277). Our findings indicate that both external and internal factors significantly contribute to the development of IDMCs. Notably, technological turbulence and organizational slack are positively related to IDMCs, both directly and indirectly. This research adds to the existing literature by underscoring the importance of maintaining slack resources as a means to enhance organizational agility and partnering capabilities, which in turn lead to stronger IDMCs and improved performance in international markets. Additionally, it highlights the pivotal role of technological turbulence, in shaping IDMCs, thereby contributing to the broader debate on determinism versus strategic choice in organizational development. Given that IDMCs reflect a firm's ability to proactively seize new opportunities in international markets, the study raises an intriguing question: What are the roles of external and internal antecedents, and to what extent can they be analyzed independently? Our results suggest that a comprehensive understanding requires considering both sets of factors, with technological turbulence and the often-overlooked role of organizational slack being particularly significant.

The well-being of retail employees is crucial for improving productivity and reducing turnover in companies around the world. Previous research has primarily focused on the impact of workplace conditions, employee engagement, mental well-being and organisational support on employees’ overall well-being. This review focused on the literature on physical well-being and sport-based interventions in the workplace. In searches of the EBSCO, Web of Science and Scopus databases as well as Google Scholar, we found only two qualitative and five quantitative articles that fit our inclusion criteria. The central findings indicated that well-being interventions, such as walking and table tennis; flexible work schedules; and employee recognition programmes significantly enhance job satisfaction, reduced stress and improved physical health and well-being. Furthermore, improved physical well-being led to increased productivity. Despite positive outcomes, there is a notable lack of both comprehensive research on the long-term effects and their impacts. Comparison of the effects of diverse retail employee demographics, such as insurance or work culture characteristics. Topic is vital for supervisors, human resource management (HRM) and company leaders because investing in well-being initiatives not only fosters a healthier and more motivated workforce, but also drives better business outcomes as well as employee retention.

EIBA Conference 2024

Poster Abstract

The European collaborative RDI program for a science, culture and arts driven growth and dynamism based on regions, cities and localities as ecosystems

We propose a European-wide RDI networks for universities, firms, public agencies, regions, and cities. These are experimentative and participative RDI networks of ecosystems that bring about new value-driven and immaterial economic growth in Europe.

The networks are focused on strengthening the role of European sciences, culture and arts in the future development.

Our proposed network of experimentative and participative RDI ecosystems may improve European regional vitality as a source for qualitative growth that is sustainable and improves social stability, security, and wellbeing of people and the Nature.

European firms, regions, and cities may together provide new insights about the future opportunities even globally. This may be done by local anchoring of experimentative and participative RDI for future growth.

The locally anchored European collaboration of firms, regions, and cities in experimentative RDI may balance the overall development by providing new paths even for the Big Tech and global economy driven RDI.

In the extant literature on multinational enterprises, parent headquarters (HQs) are primarily attributed benevolent roles with regard to their perceived and actual intentions (Foss et al., 2012). While agency scholars acknowledge that principals can behave opportunistically (Perrow, 1986; Wiseman et al., 2012), 'principal opportunism' has received little attention in the context of headquarter-subsidiary (HQS) relationships (Hoenen & Kostova, 2015). This study addresses this gap by exploring manifestations and consequences of HQ opportunistic behavior. Using a qualitative approach, we conducted first semi-structured interviews with managers from HQs and subsidiaries across Europe and North America. Our preliminary findings suggest that HQs tend to behave opportunistically towards strategically important and geographically close subsidiaries. In response, subsidiaries engage in counter behaviors. These preliminary findings challenge traditional assumptions and highlight the complex power dynamics that shape HQS relationships.

International strategic alliances (ISAs) have been a research focus for more than three decades, yet the literature on non-equity ISAs is rather sparse. The area warrants further investigation, given that ISAs are still frequently emerging under environmental turbulence and technological advancements and that non-equity ISAs particularly present tensions. Focusing on non-equity ISAs, this paper examines sample features, constructs, and mechanisms to develop a holistic view of existing research. It looks at past ISA characteristics and activities to identify how today’s practice differs; it seeks to mirror how relevant research has evolved to date. The study adopts a systematic literature review approach. Articles from top journals are selected with specific criteria and analyzed through content coding. Critical issues including ISA formation, governance mode choices, contractual and relational mechanisms, knowledge transfer, and performance are reviewed. The motives, antecedents, or determinants of the processes and outcomes, as well as the moderators that condition the various relationships, are assessed. Based on the synthetic analysis of existing studies, the paper offers insights into the intricate dynamics and contexts of ISAs and proposes several future research directions such as more emphasis on operational-level employees, decision alignment processes, and broader governance tools.

This early-stage research project addresses Zahra et al’s (2024) call for more context-embedded “big T theorizing” in entrepreneurship research that challenges prevailing assumptions about entrepreneurship. Examining digital entrepreneurship, effectuation and internationalization within the global dog training industry – focused on the fear-free/positive reinforcement (FF/R+) movement, conceptualized as a global virtual community of practice – this research seeks to uncover what motivates knowledge-intensive business service (KIBS) entrepreneurs to internationalize, what challenges they face and how internationalization allows them to shape industry evolution, emerging regulations, social change and accepted ethical principles. It builds on existing research about internationalizing service entrepreneurs, whose internationalization paths may emerge as a byproduct of network development (see Johanson & Vahlne, 2009; Turunen & Nummela, 2017). As a prolific consumer of FF/R+ dog training services embedded in this community of practice, the author will collect in-depth qualitative data through interviews with dog trainers who serve an international customer base and dog owners who consume their services. In addition to a more nuanced understanding of the internationalization paths of KIBS businesses, this paper also responds to Heinonen’s (2024) call for researchers to examine how foundational service marketing theories may be applied and adapted in complex and dynamic market contexts.

This study explores how EU membership affects income inequality in post-socialist countries that joined in 2004, 2007, and 2013. It assesses whether EU accession has reduced income disparities by comparing these member states with non-members and examining changes in inequality before and after accession.

The purpose of this article is to examine to what extent the impact of the channels influencing the level of the Gini coefficient, and affected by membership in the European Union differed after accession from their impact before it and the post-socialist countries that did not join the community. The approach seeks to examine whether, if the countries studied had not undergone accession, but had obtained the same results in terms of economic development, education, social security and migration, the level of the Gini coefficient might have been higher. To this end, an assumption is also made that the determinants which, according to the literature, led to an increase in polarization had a weaker effect than in the counterfactual scenario.

The study found that EU membership led to statistically significant differences in income distribution compared to non-member post-socialist countries and to the years before accession, indicating that without joining, income polarization would likely have been higher.

Over the past five decades, globalization surged, with multinational corporations and, more recently, small and medium-sized enterprises expanding internationally. Key drivers included economic liberalization in the Western countries, the rise of Asian economies, and China’s “open door” policy. Outsourcing and offshoring became strategic tools for firms to leverage global advantages.

Researchers and managers agree that the location of a firm’s operations is an important strategic determinant affecting production costs, diversification, global outreach, and overall competitiveness. In this context, outsourcing and offshoring emerge as deliberate strategies firms adopt to harness the benefits of comparative global location advantages. However, recent events like the US-China trade disputes, the Covid-19 pandemic, and Russia’s invasion of Ukraine have disrupted globalization, leading to increased nationalism and protectionism. These disruptions have exposed vulnerabilities in global supply chains, prompting firms to consider “reshoring”—bringing operations back to their home countries.

This study explores 1) how the recent VUCA environment has affected the drivers of reshoring decisions and 2) How managers foresee the prospects for reshoring in the near future.

We will study the reshoring behaviour of Western European and North American firms in reaction to recent VUCA events.

The traditional focus of International Business (IB) research has been on Multinational Enterprises (MNEs) and their economic interactions with various environments, including regulatory barriers. However, with growing geopolitical tensions, many countries now view certain Foreign Direct Investments (FDIs) as potential threats to national security. FDI screening mechanisms, which allow governments to scrutinize and block certain investments, have become more common in regions such as the USA, China, and the European Union. This study reviews key arguments around FDI screening, particularly in industries like healthcare, food supply, energy, telecommunications, and transportation. These sectors are susceptible to risks such as inequity, espionage, and infrastructure control, which can impact national security and societal functionality. As nations adopt stricter measures to protect critical industries, MNEs must navigate a shifting landscape. The paper highlights the need for IB scholars and practitioners to consider national security concerns as a significant factor in international business decisions.

Our study explores sales failure, its definition, and factors leading to it in the international sales setting. Sales failure causes long-term consequences, and lost sales can significantly impact the company's success (Dixon et al. 2001); sales management research has largely focused on sales performance, not sales failures (Fine, 2007). In particular, research on failure is very rare in international sales. Johnson et al. (2016) point out that sales failure causes different outcomes. At the beginning of the sales process, it is important to recognize whether the prospect is worth pursuing. The sales process can be stopped at the initial stage (i.e., failing fast) to free up resources for more promising sales opportunities (Friend et al., 2019). Our study aims at contributing to sales management literature and bringing new insights how to manage sales failures.

As the space industry experiences a paradigm shift from government-led to private-dominated exploration, Low Earth Orbit (LEO) is becoming increasingly privatized. The rapid growth of satellites in LEO, expected to grow over 100,000 in the next decade (Hall, 2021), is primarily driven by the emergence of small satellite constellations developed, manufactured, launched, and operated by small businesses. While these constellations, referring to groups of satellites that have similar types of functions such as GPS, offer immense potential for technological advancements and societal benefits, their rapid growth also creates significant challenges. These challenges include the potential for increased orbital debris, satellite collisions, astronomical interference, and increased emissions from rocket launches and satellite reentries (Bernhard et al., 2023). In this paper, we study the dynamic and evolving landscape of satellite Earth Observation (EO) constellations owned by small businesses, emphasizing the critical need for sustainability in their design, deployment, and operation. EO refers to the use of remote sensing technology to monitor the Earth’s characteristics (EUSPA, 2023, 2024). We are especially interested in satellite-based EO as the data acquired through EO constellations can be processed and analyzed to be employed in a wide range of applications and industries.

This study aims to understand how employees construct their national identity in interactions with and in relation to their local and overseas counterparts in multinational corporations (MNCs). I study the phenomena of Chinese employees’ use of English names, mixed use of English and Chinese language, and dress in offices in multinational organizations. Drawing on a hybridization processes lens, I elaborate on how identity work evolves by looking into how Chinese employees initiated to adopt an English name, mix the use of Chinese and English language, and apply to dress code policy at work and how these phenomena develop with contextual change. I found that contextual conditions are essential to the identity work evolving process.

Purpose: To explore the acceptance of the Work From Anywhere (WFA) model among students from Czechia, Estonia, Poland and to understand the factors influencing their preferences and attitudes towards this work mode.

Design/Methodology/Approach: The study was conducted using an online survey among students from economics and business schools in the three countries. Correlations between work mode preferences (remote, hybrid, office) and key factors such as flexibility, work-life balance, and social influences were analyzed, also the SEMl (with Smart PLS) based on Technology Acceptance Model was prepared to analyze the relation between social factors, perceived usefulness, perceived ease of use of WFA and attitudes and behavioral intentions towards WTA.

Findings: PU and PEOU were found to be key factors influencing the acceptance of the WFA model. Social influences varied by country, and work mode preferences significantly impacted expectations related to flexibility and collaboration.

Practical Implications: Employers should communicate the benefits of remote work and adapt strategies to specific cultural contexts to effectively attract and retain Generation Z talent.

Originality/Value: This study provides unique insights into the preferences of the younger generation regarding WFA, highlighting the importance of technology and social influences in the acceptance of flexible work models.

The idea of friendshoring is examined in this work along with its importance to global value chains (GVCs) and the strategic operations of multinational corporations (MNEs). Amidst growing global trade instability, geopolitical tensions, and the COVID-19 pandemic's effects, friendshoring emerges as a critical strategy. It is a practice of relocating supply chain activities to countries that are politically and economically aligned with one's own country. Through an analysis of theoretical underpinnings and effects on GVCs, this article demonstrates how friendshoring improves supply chain performance. Its distinct benefits are shown by comparisons with offshoring, nearshoring, and reshoring. In addition, it suggests future research avenues. Ultimately, friendshoring is portrayed as a progressive strategy that can tackle current global issues and positions MNEs for long-term success and sustainable growth in a challenging global environment. This analysis adds insights into the debate about international corporate strategy as well as its practical implementations.

International virtual teams (IVTs) are a very dynamically developing form of work organization within or across the structures of international organizations, often undertaking projects crucial to these organizations. The effectiveness of international virtual teams IVTs depends on many factors, of which the leadership style in the team is of key importance. This paper presents research dedicated to identification of the most desirable leadership style in IVTs, supporting teams effectiveness in the context of their virtualization, spatial dispersion, and international cultural diversity of their members. The study shows results of testing hypotheses regarding the influence of three leadership styles (transformational, transactional, and laissez-faire) on team effectiveness and the influence of teams’ virtualization, spatial dispersion, and international cultural diversity on the strength of these relationships. Empirical results of surveys with 300 employees of international organizations indicate a positive influence of transformational leadership on the effectiveness of IVTs and a negative influence of laissez-faire leadership. The hypothesis regarding the positive influence of transactional leadership on the effectiveness of IVTs is not supported. The study also shows that the degree of team virtualization, spatial dispersion and international cultural diversity have divers effect on the studied relationships between leadership styles and team effectiveness.

Over the past decade, research on sustainable careers has gained significant interest among scholars and practitioners alike, leading to a notable rise in scholarly work in this field. However, up until now, this body of research remains quite fragmented. To address this issue and to come up with well-grounded recommendations for future work, a systematic review of the existing empirical work on sustainable careers is necessary. In particular, this review focuses on two questions: 1) What indicators have been used in empirical studies to measure sustainable careers, and 2) Which key antecedents of sustainable careers have been used. By delving into these questions, we aim to uncover the foundational elements that both contribute to and indicate one’s career sustainability. Additionally, we will analyze the theoretical frameworks that have been adopted to study sustainable careers. Finally, we propose a future research agenda that emphasizes the temporal character and international context of sustainable careers.

As global supply chains evolve towards complex multi-tier networks, integrating sustainability and innovation becomes imperative. Yet, the specific contributions of boundary-spanning infrastructures, comprising diverse stakeholders beyond traditional supply chain actors, remain underexamined in these international contexts. So, this research examines the role of boundary-spanning infrastructures in fostering sustainability innovations within complex, multi-tier sustainable international supply networks involving SMEs. By focusing on these infrastructures as structured networks of diverse elements, the study explores how their dynamics and tensions, arising from diverse stakeholder interests and institutional logics, influence sustainability innovations. Our qualitative research, employing a multiple-case study design and abductive logic in a real contextual setting, utilizes thematic analysis and semi-structured interviews, focusing on multi-tier international energy supply networks whose focal firms are SMEs located in Finland. This research extends the focus beyond previous research by offering empirical evidence from SMEs within these networks. By elucidating the mechanisms through which infrastructures affect sustainability innovations across multi-tier international sustainable supply networks, this study contributes to both theoretical advancements and practical implications for the research domains.

This paper examines dependencies in global value chains (GVCs) within the context of pharmaceutical industry, focusing on the generic drug segment. The COVID-19 pandemic exposed critical vulnerabilities and dependencies in pharmaceutical supply chains, particularly in the reliance on China and India for active pharmaceutical ingredients (APIs) and finished formulations. Drawing on resource dependence theory (RDT) and supplier-centric GVC governance, we propose a nuanced typology of dependencies in GVCs, categorizing them into interfirm, locational, and strategic dependencies. These dependencies correspond to distinct units of analyses, but also interact across different wavelengths. We use firm-, country-, and product-level data to map the global structure of the generic pharmaceuticals value chain in an exploratory fashion. We then apply our novel typology to the main actors of the generic pharmaceuticals GVC. Our analysis reveals that while developed economies face strategic dependencies on certain pharmaceutical imports, less-developed regions suffer acute vulnerabilities impacting public health. We emphasize the high levels of heterogeneity within the industry, distinguishing between producers of finished formulations and APIs. The findings suggest that the segmented nature of pharmaceutical GVCs necessitates tailored policy responses to mitigate dependency risks. The research contributes to the intersection between international business (IB) and GVC literature.

Abstract. The well-being of retail employees is crucial for improving productivity and reducing turnover in companies around the world. Previous research has primarily focused on the impact of workplace conditions, employee engagement, mental well-being and organisational support on employees’ overall well-being. This review focused on the literature on physical well-being and sport-based interventions in the workplace. In searches of the EBSCO, Web of Science and Scopus databases as well as Google Scholar, we found only two qualitative and five quantitative articles that fit our inclusion criteria. The central findings indicated that well-being interventions, such as walking and table tennis; flexible work schedules; and employee recognition programmes significantly enhance job satisfaction, reduced stress and improved physical health and well-being. Furthermore, improved physical well-being led to increased productivity. Despite positive outcomes, there is a notable lack of both comprehensive research on the long-term effects and their impacts. Comparison of the effects of diverse retail employee demographics, such as insurance or work culture characteristics. Topic is vital for supervisors, human resource management (HRM) and company leaders because investing in well-being initiatives not only fosters a healthier and more motivated workforce, but also drives better business outcomes as well as employee retention.

Much of the international business literature on industrial location, internationalization and innovation is based on firm- or network-level research, but does not consider the role of professional communities that can be crucial in providing access to knowledge, resources and personal networks. This paper focuses on the role of local communities, the individuals that collectively form them, and on how they connect with international communities and become crucial facilitators of the internationalization processes of firms. In a co-evolutionary perspective, we investigate the role of local professional communities, international professional communities, and their local-global interfaces. In a conceptual survey, we propose that local-international community connections are crucial to the capacity to engage in foreign direct investments, international trade, production and innovation. We explore: who are the members of local professional communities and how do they create knowledge?; where do such communities emerge and how do they develop?; and how are local professional communities reproduced? We conclude by arguing that the interrelationship between local and international communities is a critical part of an environment that facilitates successful corporate internationalization, and this favorable interaction in the relevant industrial environment improves the development prospects of the city-regions in which local communities are located.

If great strategies can stem from personal values (Rindova & Martins, 2018), why are values so understudied in international business research? We use archival data from the 1930s and 1940s to examine how the personal values of a design company’s co-founders are linked to the firm’s initial decades of international activity. This reveals a set of six personal values in the founding team and a set of four complementary nonmarket strategies underpinning internationalization. Notably, the nonmarket strategies are values-based, and they differ from those typically addressed in international business research on MNEs.

Drawing on EIBA 2024 motto (‘It’s interesting!’) and paraphrasing Davis’ (1971), we argue that our endeavor is interesting, as it is “worth studying” and likely to engage the reader’s attention. This paper is a spin-off of the EIBA history book (Simões, Cantwell & Gugler, 2024, forthcoming), though with significant twists. It starts with the identification of the characteristics and evolution of the IB context over the 50 years of EIBA’s life. This provides the frame to analyse the evolution of IB research and EIB. Based on the previous analysis, we advance four potential courses of action regarding the IB context by 2050. Their implications for both IB research and EIBA are then discussed. The contribution of this paper is three-fold: to put IB research and EIBA history into perspective, by inscribing them in the periods identified in the wider IB context [from a fragmented world to the dawn of globalisation (1974-1988); heading towards globalisation (1989-2011); and globalisation in retreat (2012-2024)]; to advance, on the basis of the evolution of the IB context four potential courses of action up to 2050 (‘Slowbalisation’; Partial decoupling; Full decoupling; and Multipolarisation); and to assess their main implications for IB research and EIBA’s future.

The past few years have witnessed a plethora of scholars and practitioners embracing the concept of deglobalization. Our literature review reveals that authors have used different definitions of deglobalization, different metrics, and different levels of aggregation, looking at different institutional origins and different timeframes. To provide a more comprehensive assessment, we performed a series of analyses with metrics commensurable to the conceptualization of globalization on a multi-country dataset consisting of 3,303 unique firms from the top 16 home markets of the Fortune Global 500 firms over the 2001-2022 period (n=35,042). We introduce the difference between equally-weighted degree of internationalization which tracks the evolution of the average firm, and value-weighted degree of internationalization which better captures the evolution at the macroeconomic level. We find that using such distinct metrics leads to different judgements on the development of deglobalization. On the one hand, we identify an overall upswing of globalization for the average firm, a pattern that is robust across different economies. On the other, our analysis of value-weighted degree of internationalization highlights that different economies underwent distinct and even contradictory paths of (de)globalization. We identify the research implications.

The world is facing a ‘perfect storm’ - a combination of largely man-made crises that puts the governance of the global economic, political, social and health system as developed since the 1990s under increasing pressure. The perfect storm confronts engaged IB scholars in their teaching and research activities with fundamental organizational and intellectual choices on what phenomena to focus on and how to link their coverage of multinational strategies to relevant societal outcomes. There is a growing pressure on universities to engage in ‘big societal questions’. By focussing exclusively on a neutral position towards grand challenges, management and IB scholars are increasingly reproached by business leaders and policy makers to lose track of societal relevance which lowers their ability to create global societal impact (Doh et al., 2023). This panel considers the extent to which these challenge require a new type of IB scholarship. We will in particular explore what ‘engaged IB scholarship’ entails and what type of enabling conditions have to be created in order to gain relevance.

Despite decades of research, we know little about how managerial mindsets influence SME export channel choice decisions and how these decisions are altered by the local conditions of a foreign target market. Managerial mindsets are the cognitive mental model managers rely on for processing and evaluating information and making decisions. In this paper we develop and test the notion that, in addition to the influence of transaction cost factors, the global mindset of top managers has a significant impact on the export channels that SMEs use. We also suggest that this relation is sensitive to the level of political instability in the target market. A multinomial regression analysis was used to analyze the responses of a sample of 208 Chinese SMEs. The two hypotheses of the study were supported. In this way we contribute to a better understanding of how managerial thinking can influence the strategic choices that are made and the boundary conditions that exist when SMEs expand abroad.

This study contributes to international business literature by exploring how seven Finnish micro, small, and medium-sized enterprises (MSMEs) define and measure success and failure in their export performance using an Interpretative Phenomenological Approach. Through in-depth interviews, the research identifies several core themes, including growth, innovation, sustainability, digital readiness, agility, resilience, and customer satisfaction. Success in international markets was assessed by the capacity to broaden market reach, preserve brand integrity, and adapt to local markets. The findings highlight the importance of high standards in supplier and buyer relationships, emphasizing dependability, quality, and sustainability. The study concludes that Finnish MSMEs perceive success as a holistic integration of growth, customer engagement, innovation, and environmental responsibility, aiming for long-term sustainability and resilience in a dynamic business environment.

This paper aims to find out how the decision-making logic of Italian micro exporters evolved in the turbulent business environment. It focuses on the dynamics of decision-making in a matched-pair case study of two Italian micro exporters active in the medical diagnostics industry, encompassing the period before, during and after the Covid-19 pandemic as it is a suitable example of the volatility, uncertainty, complexity and ambiguity (VUCA) in the business environment that reflected in managerial decision-making. The paper found that in turbulent times (but also before) both firms used a combination of decision-making logics: they mixed causal and effectual decision-making. The two logics developed parallelly to each other: the use of some elements of both effectual and causal logics increased or decreased at the same time.

SMEs and their ability to

internationalize and innovate are critical drivers of sustainable growth. This Systematic Literature Review

(SLR) delves into how inter-firm cooperation shapes innovation and collaboration among SMEs across

diverse regions.

This SLR will investigate the dynamics and implications of interfirm cooperation between SMEs in

Latin America (LAC) and regions and other regios. Through a comprehensive review of existing literature on cooperation patterns, case studies, and

empirical evidence, the research to identify trends, challenges, and opportunities for interregional

collaboration as driver of innovation.

In particular the methodology of SLR employs a multi-step approach to explore the impact of international

collaboration on innovation and technological development in LAC SMEs. First, clear inclusion and

exclusion criteria will be established to ensure the selection of relevant, high-quality studies. Whit a thematic analysis will synthesize the

extracted data to identify recurring themes and patterns, ultimately providing a nuanced understanding of

the research topic.

That provide insights and tendencies as main drivers on international collaboration for SMEs

innovation and technology crucial to understand the dynamic and complexity of the topic and main

concepts as innovation process, entrepreneurship and regional development investigation lead to

contributions on the field.

The market entry in Japan has always been perceived as challenging, especially by western

companies. Specific market entry barriers, such as keiretsu structures as well as access to local

distribution channels and to the local work force, prevented MNCs from succeeding in the

Japanese market. Due to these radical changes during the last 30 years, foreign companies are

expected to have adapted their market entry strategies. More precisely, the need to develop

experiential knowledge, as described in the Uppsala model, should have been decreased,

resulting in a turn away from internationalization patterns such as the establishment chain. An

empirical study has been conducted, including 38 German companies that had entered the

Japanese market. Against the expectations of changed market entry forms and subsequent entry

forms, the market commitment has been generally low, making mostly use of exporting

activities. However, in line with the theoretical foundation of timing strategies, pioneers show

superior performance effects compared to following companies.

The growing number of studies at the intersection of business model (BM) research and international business (IB) predominantly look at various change processes within BMs of internationalizing firms. We find this emphasis on change relevant but overgeneralized as it overlooks stability that is essential for staying competitive in new foreign markets. Hence, we

aim to examine BMs of international firms and identify changing and stable BMs elements as

well as the inter-relations between these elements. We conduct a longitudinal qualitative study

of three international firms from Finland. We build on the framework by Onetti et al. (2012) and recognize the changing BM components of focus, modus, and locus. However, we identify a stable core and unchanging element of BM nucleus. We provide a model that depicts how stable nucleus bounds and enacts changes in focus, modus, and locus of a BM of an international firm. These results provide important theoretical implications both for BM research in IB and for BM research in general.

The goal of the proposed panel is to discuss the present status and likely future of international business (IB) as an academic field. Fifty years after EIBA’s foundation, the time seems ripe for an appraisal of where we have been and are going. The panel will start with a short presentation by the organizer, Jean-Francois Hennart, on what the empirical evidence tells us is the present status of IB and its likely future. Hennart will then pose 5 specific questions to a panel of three senior IB scholars, Grazia Santangelo, Sjoerd Beugelsdijk and Alain Verbeke. Then the floor be open to the audience. The background data on IB’s status and prospects and the five specific questions are part of the panel submission and have been communicated to the panel members who have agreed to focus on them. I believe that this approach joined to the high quality of the panel members will attract a large audience.

Research has shown that, due to the various challenges associated with the compounded distance of expanding across regional areas, the world’s largest multinational enterprises (MNEs) place their economic activity mainly on their home regional area – the so called regionalization phenomenon. We move a step further to argue that a firm’s ability to grow outside its home region depends on a key structural strategic leadership form – the presence of executives with regional responsibility (regional heads) in the MNE’s corporate leadership. We argue that by having a regional head in the top management team (TMT) at the head office, strategic leaders economize on the bounded rationality (BRat) and bounded reliability (BRel) of growing in host-regions – an aspect that drives them to move away home-regional borders. We also postulate that this effect becomes more pronounced when: (a) the regional head in the TMT is not facing role multiplicity, (b) the MNE is led by a foreign CEO and (c) the region experiences high growth. Data from international automotive companies between 2003-2019 support most of our predictions.

Today’s tumultuous economic and political landscapes significantly impact multinational corporations (MNCs) and their approach to organizing innovation and technology in their globally distributed research and development (R&D) units. Drawing upon international business, strategy, and innovation literature, this paper employs a case study of a Danish MNC with a long-term presence in China. It presents an integrative framework for managing MNCs’ innovation activities in foreign locations increasingly exposed to growing global tensions and bifurcation. This framework encompasses governance mode, mandate, strategic goals, footprint, and innovation output, highlighting the importance of balancing conflicting centripetal forces pushing for more centralized and concentrated MNC operations and centrifugal forces supporting strong global dispersion and openness. From this, a new conceptualization of international organizing emerges—not as a single dominant mode but as an ever-evolving, complex constellation of modes. This finding emphasizes the dynamic nature of balancing these forces and its implications for refocusing MNC management capacity to deal adequately with this balance across business units and geographies.

Foreign survival literature emphasizes the critical role of organizational learning capabilities in survival, yet varied impacts of foreign subsidiary age on survival are reported. Elaborating on the organizational learning perspective, we delve into these diverse effects across different subsidiary life stages, examining resource endowments, learning capabilities, liabilities of newness and foreignness, and challenges of senescence and obsolescence. We further propose that subsidiary relatedness modifies the age-survival relationship, influencing resource development and learning capabilities. Our study examines Finnish MNEs and their foreign subsidiary survival from 1970 to 2018 to test these hypotheses. Our findings show survival rates change across life stages, with relatedness shaping these dynamics. This study extends organizational learning theory and informs MNE executives that foreign survival rates are dynamic and influenced by subsidiary relatedness.

In this paper, we consider how knowledge distance affects the MNEs' decision to

divest their foreign operations. We argue that, given the embedded nature of knowledge in a

given context, MNEs aiming to source knowledge in a foreign country characterised by a high

level of knowledge distance will be less likely to divest their operations in these countries. We

also consider how linguistic distance positively moderates the relationship between knowledge

distance and foreign survival. Results from a comprehensive panel of Finnish MNEs and their

worldwide subsidiaries reveal robust support for these arguments. This paper extends our

understanding of the link between foreign divestment and knowledge distance between the

home and host countries.

Focusing on US multinational enterprises from 2010 to 2020, the study explores the role of the firm-specific real option capacity in determining the equity share in cross-border acquisitions. We find that under high levels of exogenous uncertainty, firms engaged in cross-border acquisitions seek lower equity shares in foreign target firms. We also find that real option capacity strengthens the negative relationship between exogenous uncertainty and equity share in cross-border acquisitions. This study provides insights into the heterogeneous nature of firms’ real option-related capabilities and their influence on equity commitment choices in international business contexts, particularly in cross-border acquisitions.

Supply contracts and sales contracts are interconnected in modern manufacturing. It remains unclear how they collectively respond to external shocks. In this paper, we present some interesting empirical findings on how international outsourcing and ordinary international trade (export prices) change under external shocks (exchange rate fluctuations), propose related theory to explain the findings, and explore their implications for business’s strategy on how to manage their GVCs and international collaborations more effectively under external shocks.

Existing studies in the patent litigation literature have focused on firms’ behavior in navigating and responding to legal challenges. However, scant attention has been given to the outcomes of patent litigation and crucially, how they influence firms’ strategic decisions, particularly when entering diverse geographic markets. Drawing on transaction cost arguments, this study contends that firms’ patent litigation outcomes, particularly unfavorable ones, impact entry decisions. Furthermore, by leveraging on the organizational learning literature, we propose that firms learn both experientially and vicariously from their own patent litigation and those of their competitors. These learnings impact firms’ market entry decisions when faced with unsuccessful patent litigation outcomes. Additionally, we investigate how intellectual property protection (IP) distance, as a measure of institutional differences between home and host countries, moderates the relationship between unsuccessful patent litigation outcomes and entry decisions. Our findings reveal that high rates of unsuccessful patent litigation is associated with a reduced likelihood of market entry, with learning experience— experiential and vicarious— moderating this relationship. Moreover, the increased IP protection distance between the home and host countries reduces the likelihood of firms’ market entry in the presence of high unsuccessful patent litigation outcomes.

Assessing what consumers value in an ad is essential for developing effective strategies across cultures. This study applies the advertising value model to analyze consumer perceptions in Portugal and Belarus. Findings indicate perceived informativeness, credibility, favorable predisposition towards advertising (FPTA) as positive antecedents of the perceived value of an ad (PVA), which has a positive influence on brand image, that in turn enhances word of mouth (WOM). Results show that the model allows the evaluation of general perceptions about advertising in diverse mediums and cultures and introduces the new antecedent FPTA. Theoretical and managerial implications are provided.

Social media is a part of internet users’ lives and became a key element of brands’ communication strategies. However, the increasing selectiveness – and even resistance – of consumers to digital content, and boundaries transcending potential of social media bring significant challenges to this purpose. Building on the hierarchy of effects theory and the expectancy-value theory of gratifications, this research examines international social media processes and investigates the moderating role of culture and social media types. To test the hypotheses, survey data from three countries – Portugal, Sweden and UK – and structural equation models were used. Results show that value of SMA mediates the SMA belief–attitude relationship. Further, culture, namely individualism and long-term orientation, moderate the SMA credibility-value and SMA infotainment-attitude relationships. As for social media type, it moderates the link between beliefs and attitudes, with significant differences between the analysed countries. This study provides valuable insights for both brand researchers and managers and unveils interesting future research paths.

Small and medium-sized enterprises (SMEs) face significant challenges in overcoming internationalization barriers, including the liability of foreignness and outsidership. Although the potential competencies of migrants in SMEs are often overlooked, our study demonstrates how their ability to develop and access informal networks in their home countries can be crucial for successful SME internationalization. By integrating insights from informal network and relational boundary-spanning research into SME internationalization theory and drawing on 20 in-depth interviews with migrant managers from the Middle East and North Africa (MENA) region working in French SMEs, we identify three key migrant roles: “accelerator,” “facilitator,” and “sustainer” These roles enable migrants to overcome barriers to entering MENA markets, facilitating and sustaining business development. Our findings advance SME internationalization theory by refining the importance that a distinct type of informal network (i.e., wasta, a culturally embedded informal network pervasive in MENA countries) plays, , and highlighting the migrant-owned competencies necessary to activate and utilize wasta, which are critical for SME international expansion in the MENA region.

We investigate consumers’ stereotypes and service quality expectations of employees with a local vs. non-local accent when visiting a foreign country as tourists. Furthermore, we account for consumer- (home country, cultural openness) and situation-specific (accent–service cultural congruence) boundary conditions. For this purpose, we conducted a 3 x 2 online experiment with Austrians and Mexicans and audio scenarios as stimuli. Results suggest that negative social stereotypes (Mexicans look down on Mexican migrant employees abroad) overshadow in-group national favoritism, but that service expectations are unaffected by this. Accent–service cultural congruence plays an important role in this context. The moderating role of tourists’ cultural open-mindedness depends on their home country and the considered stereotype dimensions (i.e., superiority, attractiveness, or dynamism). This work is the first attempt at exploring employee accent effects among international visitors of a country. By suggesting that Mexican tourists appear to look down on Mexican migrant employees abroad despite originally being from the same country, our findings call for a multifaceted and more nuanced view of the in-group/out-group dichotomy. It appears that social distance perceptions sometimes outweigh cultural closeness perceptions in the classification of others, which yields important implications for frontline personnel management in culturally diverse firms.

With an influx of highly educated migrants comes an increase in cultural breadth, ideas, and perspectives in organizations, which in turn is linked to a variety of positive effects and outcomes, such as innovation. In this paper, we study highly educated migrant innovativeness. Building on the idea that migrants’ experiences prior to migration, specifically their exposure to hardships and lack of opportunities (what we refer to as “developmental deprivation”) may be a driving force behind generating novel and useful ideas in their destination countries. We draw on self-determination theory and decision-making inclusion literature to develop our hypotheses, which are supported in a study of highly educated migrants from 45 countries working in the private and public sectors of Sweden. First and foremost, there is a significant relationship between high levels of developmental deprivation and high levels of innovativeness in the destination country. In addition, to be included in decision-making is critical for high innovativeness among those migrants who have not experienced developmental deprivation to any larger degree. However, for those who have experienced developmental deprivation in their origin country, their innovativeness is higher at low levels of decision-making inclusion. Contributions, limitations and future research are discussed before concluding the paper.

The managerial labor market is becoming increasingly global, but whether and how managers' home countries affect their evaluations remains unclear. This article argues that the status of a manager's home country affects the likelihood of that manager being dismissed. Managerial performance is difficult to assess, and employers often rely on organizational performance cues to evaluate managers. To what extent managers cause a performance shortfall, however, is ambiguous. Due to this causal ambiguity, we argue that employers tend to rely on ascribed status as a proxy for managerial ability. Managers from high-status countries may, in turn, be held to a lower performance standard than managers from low-status countries. In the event of a performance shortfall, managers from low-status countries may thus be more likely to be dismissed than equally performing managers from high-status countries. We test this hypothesis using data from the German men's football league, the Bundesliga. Our findings suggest that ascribed status plays a significant role in managerial dismissal decisions. However, our findings also suggest that this home country status bias weakens with employers' exposure to migrant workers.

Over the past three decades, the significance of language in international business (IB) and management has increased substantially and the now mature stream of ‘language-sensitive IB research’ recognizes the crucial role of language in shaping various aspects of international business operations and outcomes. With this panel, we take stock of this body of research while looking ahead and reflecting upon future directions in the field. The panelists consist of a combination of senior and junior scholars, all working with language and linguistic diversity in various capacities. Through a combination of presentations and interaction with the panelists, we will discuss topics that are central not only to the future of language-sensitive research and business, but also to issues of sustainability and societal impact in a world characterized by increased polarization and grand challenges associated with migration, in particular. As we look towards the next 50 years in IB, there is much potential for language research to illuminate our understanding of what goes on inside international business organizations. We hope to engage and involve the audience with inspiring discussions on the future of language-sensitive IB research and its implications on both business and society.

As we look forward to the next 50 years of international business research, it is imperative to consider the role of women in this evolving field. Our WOMEIBA panel aims to discuss the changing options for career and research development for women as IB scholars and experts. First, as these roles, perspectives and potentials of women in international business are very diverse, contextual and even developmental-related, we wish to shed light on the different trajectories and how those could be managed for more equality. It is a well-known fact that the academic talent pipeline has a gender leakage as careers progress, but at the same time there are increasing numbers of women filling the early scholarly positions, many of whom are looking to advance their careers in academia. Second, as international business engages with grand challenges of our times, women and not only men, are becoming more important in tackling those challenges and developing respective knowledge. Thus, we wish to exchange views on key challenges and opportunities at different career stages and propose strategies for fostering a more inclusive, diverse, and supportive environment for women in international business.

The study delves into factors shaping the success of Horizon 2020 research projects, particularly in health digitalization, offering crucial insights into R&D project innovation dynamics. 1,162 projects, which are classified as projects from the health section of Horizon 2020, were selected for analysis. Two modelling techniques are applied, depending on the data specificity of the outcome categories: negative binomial regression and zero-inflated negative binomial regression Our findings emphasize the significance of collaborative networks, expressed as the number of participants compared to project budget size, for driving success across various outcome categories. Notably, while peer-reviewed publications enhance project outcomes, they divert resources from the generation of alternative outputs. Collaborative partnerships, rather than geographical or technological factors, are pivotal for project innovation. These findings challenge assumptions about the impact of co-financing and geographical diversity on project outcomes. Balancing finance resource allocation and supporting diverse knowledge dissemination among participants are crucial for maximizing project impact. Ultimately, the study underscores the importance of collaborative dynamics, resource allocation strategies, and project management in driving R&D project innovation, particularly in health digitalization under Horizon 2020. These insights inform project management, funding strategies, and policy interventions to foster innovation and research excellence in health digitalization and beyond.

The dual transition to a sustainable and digital world compels firms to innovate their business models if they want to be competitive. However, the understanding of how international business, digital transformation and sustainable business model innovation (SBMI) are related is still very limited with scarce and fragmented empirical evidence. In this study, we aim to deepen these relationships. First, as regards the link between international business and the development of SBMI, we examine two distinct mechanisms and we discuss pull and push factors. One is through the firm’s participation in a GVC and the other happens via a firm’s exposure to international markets through exports. Second, as regards digital transformation, we discuss twofold roles: one related to how digital transformation may directly promote the development of SBMI (acting as a driver), and the other how the adoption of digital technologies may enhance the link between internationalization and SBMI (acting as anenabler). Our empirical findings, based on a large sample of European and non-European firms, support the proposed positive direct relationships. Contrary to our expectations, digital transformation weakens the relationship between international exposure (both in terms of GVC participation and exports) and the development of SBMI.

Green innovation is regard as an essential way to achieve sustainable development strategy in China. However, the role of Chief Executive Officers’ (CEOs’) majors and educational backgrounds have been little attention. Using data of Chinese public companies from 2013 to 2022 (amounting to 7,457 firm-year observations) and adopting imprinting theory, we show reliable evidence that a positive association between CEOs’ environment-related major and green innovation performance. The CEOs’ educational levels are also positive influence on corporate green innovation. Further outcomes confirm that the positive correlation is more pronounced when CEOs with longer tenure. Specifically, based on resource-based view, it is shown that government subsidies positively moderate this association between CEOs’ educational levels and green innovation. Collectively, the observations in this study provide not only theoretical significance but also practical suggestions for company green innovation in China context.

This paper explores how firms in digital cultural sectors address idiosyncratic challenges associated with the distinctive nature of their products due to their authentic and symbolic characteristics and succeed in the international expansion. Specifically, we draw attention to the concept of value of cultural digital offerings and explore how it is transferred internationally. Theoretically, we build on the traditional internationalization literature and attempt to develop a conceptualization of novel type of firm-specific advantage (FSA), labeled as cultural FSA. Empirically, we conduct an explorative case research in the setting of two cultural segments in Finnish context: video gaming and gamified digital education. This study expands the understanding about how cultural products’ internationalization can enrich assumptions about different types of FSA. Furthermore, it extends the knowledge about digital internationalization by showing the role and the extent of the use of non-digital mechanisms in the expansion of the entirely digital offerings. Lastly, this research sheds light on the relevance of the liability of foreignness and localization consideration for digital cultural internationalization.

MNE-state bargaining theory explains how the benefits of foreign direct investment (FDI) are divided between multinational enterprises (MNEs) and host economies. Extant theory relies on the use of outside options – the second-best utilization of the resources committed to an FDI project – to bound the bargaining space between MNE and state. In practice, however, the second-best option for a specific FDI project frequently is another FDI project, with its value distribution in turn depending on the value distribution of the original project. We propose a solution to this circular reasoning, by reinterpreting MNE-state bargaining as a matching game between an industry’s MNEs and host countries. This resolves the issue of circularity and clarifies that the structure of an FDI market has a significant influence on each side's bargaining power. We propose that an industry's geographic and corporate concentration and the heterogeneity of its production functions determine its structural bargaining power balance. Relying on recent advances in maximum score estimation, we estimate structural bargaining power in 2203 industry-years between 2013 and 2023 covering a total of 101,785 FDI events and find support for our hypothesis.

We examine how domestic and foreign firms strategically respond through clean innovation to the same environmental regulation change in a regional market. We leverage the unique context of the European automotive industry and its first mandatory CO2 emission standards regulation for new passenger cars adopted in 2009. Using an array of estimations and operationalizations, we find that foreign firms respond by introducing substantially more clean innovation than domestic firms. This effect is even stronger in the presence of high regulatory uncertainty associated with the heterogeneous implementation of the regulation across the countries in the regional market. Our proposed rationale is that foreign firms are more responsive, because less capable of resolving regulatory uncertainty and in a greater need to maintain their legitimacy than domestic firms.

The configurational nature of institutions views the interrelationship of institutions as configurations that influence firms’ behavior and success, even though firms differ in their ability to deal with each institutional configuration. However, our understanding of how institutional and firm-level conditions complement each other, and influence firms’ performance remains scarce. We argue that firms achieve high firm performance by relying on the complementary and substitutive benefits provided by the effective institutional configurations, and by relying on firms’ specific advantages as mechanisms to cope with ineffective institutional configurations. Thus, we employ an inductive theoretical approach using fsQCA on a dataset of EU firms. Our results advance a theoretical framework with different combinations of institutional and firm-level conditions that yield different pathways toward high firm performance. We contribute to further understanding the institutional complexities on firms’ performance, namely advancing it is contingent on the firms’ ability to deal with the institutional configuration.

There has been a growing and persistent narrative in political and economic spheres consulting that the Global South experiences an ever-increasing economic ascent. Consequently, the rise of the Global South is currenttly considereded as a major factor in contemporary economic and political areas worldwide having started and perpetuating significant challenges and changes to the existing world order. The countries in the Global South challenge and change the world economic and political systems via infuriating the current institutional structures; means and directions of international interactions, including all areas of IB activities; as well as the established international rules and their implementation. Consequently, the above stated issues challenge the established IB paradigms, interfere with trade and investment flows, the functioning of the global supply and global value chains, just mention but a few. All of them set new requirements to IB research with subsequent implications for IB teaching. Current review of extant publications exemplifies that, rather than using the Global South to signify a rigid grouping of nations, it is more appropriate to refer to it as an initial, yet flexible, principle to direct our understanding of the changing international economy and world order.

When does geopolitics negate political capabilities? This paper examines how evolving home-host country relations shape foreign direct investment (FDI) strategies of multinational enterprises (MNEs), focusing on the interplay of political capabilities in the context of South-South geopolitics. Analyzing 877 greenfield investments from 2003 to 2019, our findings reveal that MNEs’ political capabilities increase the likelihood of FDI when investing in countries that share the same colonizer with their home countries. However, we also find that political affinity in current home-host country relations diminishes the value of these political capabilities, demonstrating a substitutability effect. This study contributes to international business and international relations literature by highlighting the contrasting value of political capabilities for historical and present-day geopolitical landscapes in the global South.

We examine how multinational enterprises (MNEs) respond to changing

corruption practices in a sudden transition of political systems in an

emerging market. We draw on the political science and corporate political

activity literatures in explaining how local subsidiary firms of MNEs

(subsidiaries) adapted their political activities during the transformation

of Indonesia’s political landscape from an autocratic regime (1967-1998)

to a democratic and decentralized system. Based on multiple qualitative

case studies of Western European subsidiaries, we found that MNEs

adapted their political strategies to manage evolving power structures in

an environment of arbitrary and pervasive corruption. Under Suharto,

MNEs sought to develop relations with his regime, while also seeking to

avoid informal transaction costs. From 1998, MNEs began to conduct

survival strategies by partnering with competitors, leveraging political

networks, and outsourcing corrupt practices. Later, however, MNEs

developed alternatives to ethically suspect political strategies, for

example by leveraging government partnerships that focused on

environmental sustainability, supporting national interests, and forming

relationships with local communities. We show that corruption in

transitioning political systems is a dynamic, evolving phenomenon. In this

landscape, MNEs have more room for active agency in managing corrupt

demands in ethical ways than the literature has suggested.

The ownership decision in cross-border acquisitions (CBAs) is a critical strategic choice for emerging market multinational enterprises (EMNEs) operating in countries with varying intellectual property rights (IPR) regimes. This study integrates insights from transaction cost economics, institutional theory, and the springboard perspective to examine the ownership levels EMNEs choose when acquiring companies in countries with stronger IPR regimes than their home country. We argue that EMNEs are more likely to secure a higher ownership stake when the target firm is in a host country with a more robust IPR regime compared to their home country. However, this relationship is negatively moderated by the degree of IPR robustness differences between home and host countries. Additionally, the study introduces a three-way moderation effect, suggesting that state-ownership may mitigate this negative moderating impact. State-owned EMNEs tend to maintain higher ownership stakes, even when acquiring firms in countries with highly stringent IPR regimes than their home country, compared to private firms. Overall, this study provides a more nuanced understanding of the ownership strategies employed by EMNEs in the context of CBAs across different IPR regimes.

Past research suggests that institutional distance has asymmetric impacts on decisions made by multinational enterprises (MNEs) depending on the direction of the distance. A positive distance refers to an institutionally more developed host country, while a negative distance is associated with an institutionally weaker target country. Drawing on the directionality logic of institutional distance, this article investigates these asymmetric effects on Chinese MNEs’ decisions on establishment mode. This study analyzes the influence of the direction of institutional distance on the choice between acquisitions and greenfield investments as an establishment mode. It also addresses the potential effect of the Belt and Road Initiative (BRI) and state ownership as moderators. The empirical research uses data from 1,162 foreign direct investments by Chinese firms during 2013-2022. The results show that Chinese MNEs will be less likely to prefer acquisitions over greenfield investments as positive institutional distance increases. Moreover, this negative association is lower in BRI countries and higher for state-owned enterprises.

Informal power structures behave differently in Latin America from the rest of the world. Firms’ directors tend to create informal mechanisms for control and influence, establishing ties with other companies by sitting on their boards. These corporate connections are called Interlocking Directorates (IDs). This study is focused on the analysis of the Peruvian corporate network of IDs, and its evolution during 2000, 2005, 2010, and 2015. The sample includes 5,591 board seats, 2,689 directors, and 298 different firms distributed over the four periods mentioned. The study uses social network analysis to get the main structure and characteristics of the Peruvian corporate network over time. Main findings suggest the existence of an evolving Peruvian corporate network of large firms connected through IDs. In addition, the research results provide evidence that this Peruvian corporate network of IDs would be resilient to global economic crises, while being more sensitive to local political crises. Insights on how power structures in emerging economies could be affected by international affairs are discussed.

The purpose of this paper is to map and assess the conceptual development of the literature on the relationship between innovation and performance in emerging countries (EMES). A bibliometric analysis was performed using RStudio, Biliometrix and Biblioshiny packages to accomplish it. It was assessed 756 articles published between 1996 and 2023 in the Web of Science and Scopus databases. The main findings are that research on innovation and performance in EMES has two main theoretical foundations that stand out: the resource-based-view and dynamic capabilities, the absorptive capacity and knowledge-based theory, and a third strand relative to the institutional view. These reinforce the necessity, in EMES, to develop their resources and capabilities to get a better performance, the firm’s capacity to absorb external knowledge and commercialize this knowledge to have a greater performance in EMEs and its complexity and the importance of this institutional framework to improve the innovation and performance of companies in these economies. A framework was developed from these results to help the evolution of the concepts and applicability in future research.

Emerging market manufacturers (EMMs), typically positioned at the lower end of global value chains (GVCs), confront numerous challenges, including how to address environmental degradation and social instability. In response to environmental issues, such as biodiversity loss, clean water scarcity, and air and soil pollution, EMMs must navigate a complex landscape where economic viability intersects with environmental responsibility. In this study, we explore how EMMs gradually upgrade their GVC position to capture greater value and enhance competitiveness. Using a recursive approach to theorizing temporal processes, we propose a framework that integrates economic, social, and environmental dimensions, portraying GVC upgrading as a three-step cyclical process. We suggest that within GVCs, EMMs begin by refining their products and processes to raise value creation and appropriation. Subsequently, they adapt flexibility to perform either upstream or downstream functions, ultimately transferring their capabilities and knowledge to another node within the value chain to forge extended connections. We also explore the expected outcomes and challenges EMMs face at each stage. By illuminating the dynamic interplay among several dimensions, we aim to advance conceptualizations of EMMs’ GVC upgrading processes and offer insights for policymakers and practitioners in developing countries to foster sustainable development within GVCs.

This study investigates paradoxes presented by artificial intelligence (AI) in management education as revealed by the experience of a large-scale exercise in which students work in global virtual teams (GVTs). While the role of AI is growing exponentially in most fields, with a simultaneous increase in demand for students to develop competencies in using AI, the role of artificial intelligence (AI) in management education remains controversial. Often, AI is partially or completely forbidden to students because it is considered unethical or harmful to creativity and learning. This situation creates an increasing tension between AI's growing potential and the limitations and hesitations associated with its adoption. We employ an experimental design to compare the satisfaction, performance and creativity of students randomly assigned to one of four experimental conditions: 1) feedback received from humans, 2) feedback received from AI with students told the feedback was generated by AI, 3) feedback received from AI but students are not told that AI created the feedback, and 4) no feedback provided (control group). Our findings deepen and magnify the paradoxes surrounding the adoption of AI in management education by showing both the value and the hazards of using AI to provide feedback on student work.

X-Culture is a global collaboration project designed to enhance students’ cross-cultural competence and global skills through global virtual team experiences. Adopting the framework of ‘employability capital’ proposed by Peeters et al. (2019) and complementing it with ‘psychological capital’ (Luthans et al., 2014), this study examines the impact of X-Culture participation on career development and employability among Greek private college graduates. Data was collected and analyzed from in-depth interviews with 14 former X-Culture participants. The findings reveal a positive influence of X-Culture in students’ employability capital especially on their soft skills, such as communication, teamwork, and cultural adaptability and awareness. However, the project’s direct impact on employability varied, with some participants experiencing limited benefits. Nonetheless, all participants noted the development of key competencies contributing to long-term career success. There was also an evident influence of X-Culture on students’ psychological capital especially on the components of self-efficacy, resilience and optimism. This study underscores the value of international virtual team projects in preparing students for the global job market, emphasizing the need for such experiences in higher education curricula.

A critical theme in international business and innovation pedagogy is preparing future business leaders and policymakers to address and solve the “Grand Challenges” of today. These challenges necessitate coordinated and sustained efforts from diverse stakeholders toward clearly defined goals, with solutions often emerging from social and technological innovation. Consequently, international business education, particularly in innovation, serves as a starting point for tackling these Grand Challenges. This paper examines the role of international business programs in addressing Grand Challenges through short-term international educational exchanges that promote multi-stakeholder, cross-sector collaboration, specifically through business innovation camps. We present insights from two three-week international innovation camps held in 2023 and 2024, a collaboration between two business schools – one in Finland and one in Mexico. These camps aimed to develop innovative solutions for the global issue of overweight and obesity using design thinking. Students engaged with representatives from Finnish and Mexican businesses, researchers, and experts, facilitating design thinking and service prototyping. The camps provided immersive, experience-based learning for students and offered development opportunities for instructors and external stakeholders. Overall, the camps enabled productive and creative interactions among diverse stakeholders, fostering solutions that would be unlikely achievable in other settings.

To get a better understanding of how psychological distance plays a role in teaching, a literature review was conducted with the specific aim to look at contributions about psychological distance related to higher education. Based on the findings four general areas can be considered as central when teaching IB. 1) The psychological distance affects how students think about things. Low distance encourages thoughts that are concrete and, in a context, whereas high distance makes it easier to generalize and be abstract. 2) Using our second language increases the psychological distance and affects how we think about moral and ethical issues. 3) The ability to focus increases with higher distance, whereas motivation was better with lower distance. A tradeoff might be necessary. 4) In order to develop pro-environmental behaviours and attitudes among the studets the psychological distance should be reduced toward those issues.

This paper explores a pedagogical approach to entrepreneurship education, emphasising the interplay of action and reflection. The paper argues for the significance of structured reflection alongside action-based learning, proposing a multifaceted assessment structure that extends beyond traditional reflective portfolios. The approach incorporates effectuation theory and the concept of enactment in assignments like the Group Pitch, where students develop business ideas, and the Essay and Investor Report, which involves interviewing entrepreneurs and adopting an investor’s perspective. This method fosters continuous reflection and improvement. Critical reflection is central to the pedagogy, enhancing students' metacognitive skills and ethical leadership qualities. Learning logs and various interactive experiences support the development of these skills. Success is gauged through high student engagement, advancement in reflective skills, and authentic experiences, as evidenced by positive feedback and sustained interactions with industry experts. The paper highlights the role of critical reflection in entrepreneurship education for promoting lifelong learning, adaptability, and a global entrepreneurial mindset, making it particularly relevant for an international business audience.

Recent surges in refugee movements have prompted corporate efforts to address this global, grand challenge. However, the multifaceted obstacles faced by refugees, including language barriers, vocational training needs, discrimination, and mental health issues, necessitate tailored support from employers. Despite this imperative, research on workplace support for refugees remains limited. To shed light on why support can be beneficial but also detrimental, this study investigates the perceptions of support needs and the adequacy of support practices among refugee employees and their support providers. Employing a multiperspective approach, the authors conducted 53 semi-structured interviews with refugee employees, supervisors, and colleagues across 25 distinct support relationships. By triangulating their diverse viewpoints, this study reveals patterns of convergence and divergence between perceptions of support needs and practices expressed by support providers and refugee employees. Three distinct workplace support constellations emerge, elucidating how support can empower refugee employees while also revealing instances where well-intended support may inadvertently disempower them and negatively affect their well-being. This research challenges the literature on the support paradox and enriches the emerging research on refugee employment. These insights were implemented in practitioner workshops to provide valuable guidance for designing effective support practices.

I respond to the Call by the EIBA organizers of how we can push the boundaries of our field to make it impactful for the future. Considering the culturally diverse nature of our academic community, an incomparable resource, I propose that to continue to develop important, relevant, and inspiring research, we should open up to more voices from cultural others and encourage more research to be done in multicultural teams. Studies are typically carried out by those who are similar, often in nationality, ethnicity, and spoken language, and work together. However, we know that differing perspectives, knowledge, and experience from diverse cultural backgrounds has the potential to generate extraordinary outcomes in multicultural work settings as cultural diversity is connected to avoidance of group-think, creativity, and innovativeness. I outline and model negative and positive facets of ethnocentrism that could hinder or enable idea-generation, as well as positive and negative aspects of inclusion and inclusive leadership that typically are expected to act as an antidote to ethnocentrism and open up to new voices joining the conversation, but also has negative repercussions. The model is intended to problematize the potential of drawing more substantially on cultural variance in future International Business research.

This paper considers the potential of reflexive contextualization methodologies to support

research addressing some of the grand challenges in international business research.

Whilst discussions on the significance of reflexivity in social science research have taken place in numerous disciplines, it is relatively recent in International Business literature. It is a significant methodological discussion as reflexivity has been characterized as iterative, inclusive, and globally regarded as an indicator of quality in the conduct and reporting of qualitative research that can enhance the societal impact of the field of International Business.

This paper begins by examining the concepts of reflexivity and reflexive contextualization, as used in the literature. It discusses how reflexivity and reflexive contextualization can be relevant for research in IB and the opportunities that reflexive contextualization can present to the researcher in IB. Drawing on empirical examples from fieldwork, the paper looks at how reflexive contextualization can be achieved.

It contributes a framework for qualitative International Business researchers to address their subjectivity and consciously navigate shifting identities, interactions, and the multifaceted context of the research phenomenon.

Equality, Diversity and Inclusion (EDI) is widely considered essential to effective management for the good of the organization, yet it encounters resistance within MNEs. Drawing on evolutionary psychology and archaeology, we examine why EDI—a policy that should be in tune with the natural human predisposition for sharing and caring—is resisted. We discover that the basis for productive collaboration between individuals today is strategic, predicated upon a controlling and holding resource-regulation strategy serving self-interest and personal gain. This is inimical to human evolutionary emotions-based collaboration in which any deviation from EDI was transitory and self-correcting. The now normal unequal rewards and perceived systemic unfairness and injustice within firms is exacerbated within MNEs, which operate internationally under conditions of pronounced and variable inequality, within and between locations. We redirect EDI research from its focus on the pursuit of diversity towards the managerial level, to correct systemic inequities afflicting both diverse and non-diverse. Replacing prevalent dominance-seeking leadership by those meriting leadership through their personal prestige can re-establish the sense of systemic fairness and justice essential to self-regulating EDI—“EDI-Plus”. We argue that this is the only way of organizing firms to achieve genuinely sustainable EDI.

Small and medium-sized enterprises (SMEs) are increasingly driven to internationalize to remain competitive. However, SME owner-managers, who are the key decision-makers, face numerous challenges in managing cross-cultural complexities, which can hinder successful international market expansion. Previous research often neglects the pivotal role of owner-managers in SME internationalization models. This study investigates the role of Leadership Self-Efficacy (LSE) in shaping the foreign market entry mode choices of SMEs, while considering the moderating effects of Cultural Intelligence (CQ) and Emotional Intelligence (EQ). Drawing on upper echelons theory, we propose that high LSE among SME owner-managers fosters more ambitious and risk-taking entry strategies. Our research emphasizes that CQ and EQ are essential in navigating the complexities of internationalization, enabling managers to effectively manage diverse cultural environments and stakeholder relationships. Data were collected from 399 SME owner-managers in Norway and Azerbaijan, utilizing binary logistic regression analysis to test the hypothesized relationships. The findings reveal that owner-managers with high LSE are more likely to choose equity-based entry modes, such as joint ventures or wholly-owned subsidiaries, particularly when they also exhibit high levels of CQ and EQ. This study advances theoretical understanding by highlighting the significance of specific managerial competencies in enhancing international expansion efforts.

Which countries exhibit the largest gender disparities in entrepreneurship—and what is the role of gender equality in these disparities? We argue that a multifaceted approach that distinguishes between different types of entrepreneurship is warranted to better understand the cross-national variation in entrepreneurial gender gaps. Our phenomenon-driven study documents that gender disparities are substantially more pronounced in employer entrepreneurship than in solo self-employment and that the two constructs are only weakly related to one another across countries. This has important implications for the role of gender equality: it is positively associated with women representation in employer entrepreneurship and negatively with women (over-)representation in solo self-employment. Unpacking gender equality, we find that informal institutional de facto gender equality plays a larger role than formal institutional de jure gender equality. Our findings draw attention to the multifaceted nature of entrepreneurial gender disparities and their institutional roots, which hold important implications for entrepreneurship theory and policy, as well as international business scholarship on cross-national gender disparities.

In this paper, we challenge the dominant wisdom about the need to combine both exploitation and exploration for the successful management of the internationalization process. From our analysis of five case SMEs, we find that during the internationalization of production, firms react to the changing external environment not only by adapting their strategies but also by implementing a number of incremental changes long after their initial entry into the foreign market. The continuous pace and the radical scope of change suggest that entrepreneurially-driven SMEs focus on the exploitation of incremental adaptations distributed over time based on existing knowledge. These adaptations lead to radical organizational renewal without the explorative introduction of new means.

This paper aims at increasing the theoretical precision when using the international entrepreneurship and entrepreneurial internationalization concepts. In particular, the paper addresses the apparent interchangeable use of these concepts. The paper utilizes international exchange relationships, value chains, and learning to explore their respective ontologies, thereby developing a framework that facilitates a distinction between the concepts. Using this framework suggests that international entrepreneurship can be understood as the exploitation of international exchange opportunities in the value chain, while entrepreneurial internationalization can be understood as the exploration of these opportunities, also outside the current planned value chain.

This article aims to identify the relationship between the Affordable Loss Principle and International Orientation, moderated by psychic distance. Examining this relationship provides insights into entrepreneurs' decision-making processes and risk tolerance in international ventures. The analysis of small and medium-sized enterprises highlights particular nuances, while recent research suggests employing the effectuation process lens for understanding entrepreneurial decisions in an international orientation. With this study, we want to contribute to practical strategies for small and medium-sized companies and advance theoretical frameworks, bridging the gap between entrepreneurship theory and international business studies. This understanding is essential to promote international entrepreneurship, foster new business creation, and contribute to economic development.

SMEs are increasingly being enticed by overseas expansion opportunities. In this context, alliances are a feasible strategic option for SMEs. Yet, studies looking at how some soft issues (e.g. local legitimacy) affect the SME entry strategy into emerging markets are scarce. This is particularly the case regarding the SME’s potential for alliances with local firms. We propose a conceptual model and proposition regarding the effect of local legitimacy on alliance formation. More specifically, we look at the effect of local legitimacy in attracting a suitable alliance partner We provide implications for practitioners and policy makers.

The study aims to investigate the relationship between the liability of foreignness (LOF), business model adaptation and performance outcomes of Russian small and medium-sized enterprises (SMEs) with international operations in the post-2022 environment. The research poses two research questions: How does the liability of foreignness affect company performance? What is the role of business model adaptation in the relationship between the liability of foreignness and performance outcomes of Russian companies with international operations in the post-2022 environment? The analysis using structural equation modeling (SEM) revealed that LOF has a significant negative impact on company performance. At the same time, LOF positively affects business model adaptation, indicating that companies adapt their business models in response to challenges related to foreign status. In turn, it was found that business model adaptation mitigates the negative impact of LOF on company performance, suggesting that SMEs that adapt their business models are better able to cope with the negative consequences of foreign status. Additionally, the study showed that LOF increases with the company's international experience, and Russian companies with international operations in countries included in the list of countries that joined sanctions are more likely to face the effects of LOF.

The Nordic region has the potential to become a hub for space innovation in Europe, with an

ecosystem of startups and established companies pushing the boundaries of satellite technology,

space exploration, and space-based applications. This region has a long tradition for space research

and exploration, dating back to the 1960’s with Denmark and Sweden. However, small space firms

in this region face various challenges to internationalize. Strict regulations, international and

national laws covering technology development, satellite launches and operations, pose challenges

for small firms to expand globally beyond the startup phase. Additionally, the high capital and

technology costs makes it difficult for these firms to internationalize. Despite these challenges,

there are promising opportunities for these firms to grow and internationalize. The goal of this

study is to understand the internationalization process for these space firms and present a model

of the internationalization processes. This paper employs qualitative research methodology,

combining interviews, case studies, and literature analysis.

Abstract: The aim of this chapter is to light how the relationship between firms’ internationalization and environmental responsibility. We expected firms with export activities might adopt proactive environmental strategies, eco-innovation plans, and improve environmental performance. A sample of 100 exporting Ecuadorian SMEs was used to test these relationships. The results show that export ratio does not influence or have a significant relationship with the adoption of environmental strategies, eco-innovation plans, and environmental performance. However, top management commitment and organizational learning capability have shown a positive link with the three dependent variables.

Research on large Multinational Enterprises (MNEs) has been at the core of International Management (IM) since the 1980s, with notable contributions from scholars such as Doz, Prahalad, Hedlund, Bartlett and Ghoshal. Their collaborative efforts shaped our understanding of MNEs in the 20th century. But when in the 21st century, globalization, financialization, new technologies, and a changing geopolitical landscape started to transform MNEs, IB researchers were slow to recognize the magnitude and complexity of the changes in MNE organization and the growing diversity among MNEs. Hence, in 2016 a group of IM researchers gathered in Helsinki to re-focus on the evolving nature of MNEs, debating the need for new approaches and examining how environmental and organizational changes affect MNE structure, value creation and managerial tensions.

Our panel seeks to reconvene some of the key contributors to the 2016 debate to assess the continued relevance for future research on MNEs of the issues and themes that we identified eight years ago, and to discuss whether the changes in the global landscape since that time raise new challenges and themes. Our objective is to contribute to the shaping of a highly relevant and interesting research agenda on MNEs for the future.

This paper provides a comprehensive review of the literature on integrating artificial intelligence (AI) into global value chains (GVCs) and its significant implications for international business operations. Using the Antecedents-Processes/Decisions-Outcomes (A-P/D-O) framework, this review explores AI's multifaceted impacts on GVCs across various disciplines. The literature review includes peer-reviewed articles from reputable academic databases, focusing on the intersection of AI and GVCs.

The findings indicate that AI adoption in GVCs is primarily driven by technological advancements, competitive pressures, and the strategic need for operational efficiency and innovation. Key insights highlight AI's role in improving supply chain management, optimizing production processes, and enhancing market analysis through predictive analytics, real-time data exchange, and automation. Additionally, AI supports innovation, promotes sustainability, and strengthens firms' competitive positions within GVCs. However, notable research gaps remain. Future studies should investigate AI's contributions to sustainability in GVCs, ethical considerations, sector-specific challenges, and the role of policy frameworks in facilitating AI integration. Addressing these gaps will provide a deeper understanding of AI's strategic implementation in GVCs, ensuring responsible and equitable outcomes.

Amid a backdrop of global and regional crises, resilience of multinational enterprises has become a focal point for practitioners and scholars of international management. However, opinions among academics about the definition and conceptualization of resilience continues to differ (Conz & Magnani, 2020). This paper addresses the lack of research on resilience of international management (Essuman et al., 2023) and the fragmented state of the literature in the field (Thalassinos et al., 2023). This study provides an overview of the body of research by providing a topological and temporal depiction of the study field’s cognitive and social structure, highlights, and clusters of thematic subfields. The objectivity of the study was achieved through the use of a performance analysis, using citation rates and publication venues (Cucari et al., 2023) as well as through a bibliographic mapping process based on co-citation and co-words (Donthu et al., 2021) using VOS Viewer and CRExplorer. Despite the methodological challenges inherent in this research, the resulting visualization uncovers distinct research streams and gaps, offering profound insights for future studies in the field. Besides others, the most important thematic clusters in resilience are built around “ambidexterity and business innovation”, “corporate strategies”, and “change management and innovation”.

Much of the existing literature on MNEs and the transition to a circular economy (CE) tends to adopt an economic perspective considering MNEs to be key protagonists pushing for a more CE. Those literatures tend to downplay how socio-economic relations amongst MNEs and a broad range of other national & transnational actors’, known as transnational-social-space (TSS), shape MNEs and supplier’s effort to move towards a CE. Drawing on the concepts of TSS and transnational communities (TC) we examine how the multi-tier organisational and global-stakeholders’ collective initiative complements MNEs effort to move their supply chains to a CE. Using two TSSs in Bangladesh’s apparel industry as embedded case studies, our study explores three drivers: (i) actors shared purposes, (ii) shared cognition and logics, and (iii)symbolic change and transformation, which shape TSS’s effort to move MNEs supply chain towards a CE, leading TSS to a TC. The TSS and TC concepts facilitate an embedded and contextualized view of MNEs, placing MNEs as one amongst a group of actors; instead, a central actor, who come together to work on a common, yet sometimes contested goal. We, thus, explore the ‘drivers’ of CE transition in GVCs, and present an alternative perspective to IB literature.

Focusing on the GVC of lithium batteries (LBs), this paper analyses the relationship between the major industrial policies adopted in the last decade and inward FDI in three major regions for the LB industry (the EU, the US and China).

First, we present a comprehensive recollection of the industrial policy instruments designed and implemented over the period 2012-2022, and we propose a tentative taxonomy for their classification. Second, we analyse the relationship between the emergence and the evolution of active policy instruments and the investments undertaken by MNEs in the different stages of the LB value chain, in the three regions considered.

Our results show that industrial policies have played a key role in shaping the LB GVC configuration, especially in the EU and the US, as they have fostered greenfield investments in midstream cells and packs manufacturing. Our evidence contributes to the debate regarding the potential tensions arising between the pursuit of resilience and sustainability objectives in industrial policy, arguing their coexistence is not discouraging inward investments flows. Moreover, we analyse similarities and differences in the strategic approaches towards the pursuit of technology sovereignty in the regions considered, and discuss their efficacy and repercussions.

The glass cliff phenomenon, which denotes the greater tendency of women than men to be placed on precarious leadership positions, has attracted huge scholarly interest since the notion’s inception. By framing women-held upper echelons roles as “cliff”, the glass cliff scholarship thus far has concentrated on uncovering how systematic biases towards women extend into higher-end labor markets, manifested as the “think crisis, think female” association in director appointment process and a greater exposure to courtesy stigma in consequence to their affiliation with crisis-stricken firms. This paper adopts a different angle to explore the potential upsides of glass cliff assignments. Based on a large-scale matched sample of Chinese listed firms, our analyses reveal that 1) preferential selection of women to top corporate ranks is not universal but rather contingent on the configurations of crisis situations and that 2) directorships in distressed firms may increase directors’ future employability but this effect is largely enjoyed by men. Our findings contribute to the glass cliff literature in two ways. First, we clarify the boundary conditions of the glass cliff phenomenon. Second, we show strong evidence of double standards for competence.

Relying on institutional theory, we contribute to the growing literature on corporate political activity (CPA) and board gender diversity (BGD) by examining the impact of CPAs on BGD. We utilized an extensive international sample to find that the firms engaged in CPAs, such as lobbying and political contributions, tend to appoint more women to the board. More gender-diverse boards stem from the strong social reputation benefits associated with BGD and are so needed by policymakers in helping the firm. By integrating the informal institutional element of culture, we found that the positive effect of CPA on BGD is negatively moderated by gendered culture as captured by grammatical gender marking as an important contingency factor. Additionally, we show that the social reputation of the firm mediates the impact of CPA on BGD. We subjected our results to a battery of empirical robustness tests, including causality analysis.

The adoption of artificial intelligence (AI) creates environmental pressures on organizations affecting employees’ behavior and their willingness to contribute to companies’ success. Moreover, within the context of geopolitical instability, firms may encounter additional enforcements resulting in reconsideration of existing managerial practices as the responses to new realities. We apply Organizational Citizenship Behavior concept (OCB) to discuss how AI pushes organizations to revise OCB determinants strengthening these efforts by environmental disruptions using the data from 101 firms that operate in the sanctioned Russian market. Specifically, we discuss how the AI-enhanced OCB’ determinants effect firm performance and innovation capabilities of companies operating in the geopolitical disruptive context. We argue that double-loop pressures create unique research settings enabling us to unpack emergent interplay between different sources of environmental pressures and organizational responses related to employees’ behaviors. One of the most significant contributions is the redefinition of determinants of OCB in terms of dual-loop pressures. Additionally, the research illustrates the significant impact of AI-enhanced OCB on organizational innovation and performance.

How do expatriates leverage their social capital (SC) to achieve long-lasting career success (CS) in an increasingly digital world? This study addresses this question by integrating three theoretical perspectives on SC: the nature, structure, and content of social ties. Furthermore, the paper discusses the increasing role of digitalisation of social ties expedited by the COVID-19 pandemic. Drawing on a thematic analysis of 32 semi-structured interviews of expatriates, we report how SC plays a pivotal role in shaping their CS. The study also observes how digitalisation has transformed SC, emphasising its implications in the international career context. From this exploration, the importance of ‘e-bridging SC emerges.’ We further delineate how digitalisation catalyses the emergence of digital ‘career brokers mechanisms’ connecting expatriates to diverse and dispersed social groups and the ‘digital affordance-driven ties’ that guide expatriates in gauging the worth of those groups for their careers.

CYGNA – Women in Academia Network’s main objective is to promote interaction among female academics and to provide a forum for learning, support, and networking. As such, through its activities, CYGNA aims to generate conversations about how we can collectively rethink academia and academic work to make it more inclusive and to guarantee a greater and more positive impact on the academic community itself as well as on the firms and societal actors we study. For this reason, this year’s 50th anniversary conference theme of “Rethinking IB research for the next 50 years” makes EIBA the ideal space to celebrate CYGNA’s 10th anniversary with a panel discussing these issues. The proposed panel seeks to stimulate a conversation about how academics can leverage the learning from the “real-life experiences of scholars” (Jones & Bartunek, 2021, p. 335), in particular around their career transitions (e.g. cross-border transitions, leadership transitions and transitions from industry to academia), to make IB scholarship more interesting, more relevant and more transformative.

We investigated the impact of digitalization on the marketing capabilities of internationalizing SMEs. Using a systematic literature review, we analyzed traditional, digital, and international SMEs. Our findings reveal how these different types of firms exhibit different levels of internationalization and digitalization in terms of their static, dynamic, and adaptive marketing capabilities. Our analysis resulted in a three-dimensional categorization of the literature based on firm type, level of digitalization and internationalization, and marketing capability type, from which we derived suggestions for future research. We supplemented our findings with a qualitative study of the least studied firm type in the literature: born digital international firms. Our qualitative findings supported our three-dimensional categorization framework and helped us formulate additional propositions for research on digital international marketing capabilities of SMEs.

This study investigates the role of Big Data Analytics (BDA) in shaping firms' internationalization strategies. Drawing on organizational learning theory and attention-based view, the research explores how BDA facilitates both learning processes crucial for firms expanding into global markets. Using dataset covering 250 US publicly listed firms, the study identifies a U-shaped relationship between BDA implementation and the degree of internationalization. Moreover, managers' attention to BDA moderates this relationship, strengthening the U-shaped impact of BDA implementation on the degree of internationalization. Our research adds novel insights and findings on the role of BDA in international business.

The pervasive influence of digitalization on contemporary business is undeniable. While its transformative potential is widely acknowledged by academic scholars, a robust measurement of digitalization remains elusive. Existing research often conceptualizes digitalization as a unified construct, neglecting its multidimensional nature. Our study addresses this gap by developing a psychometrically sound scale to measure digitalization. To obtain a generalizable scale, our study develops and validates 19 items, classifying them into four dimensions defining the construct of digitalization. By delineating and operationalizing the key dimensions underpinning digitalization (i.e., digital communication technology, digital in situ technology, digital data analytics technology, and digital networking technology), this research offers a finer-grained understanding of how firms leverage digital technologies. A validated scale will enhance the rigor of future research and provide valuable insights for practitioners seeking to optimize their digital strategies. Ultimately, this study aims to contribute to the field's theoretical and managerial advancement by providing a comprehensive and reliable measurement tool for digitalization.

This paper systematically reviews the relationship between digitalization and internationalization through a comprehensive review of the literature. Using Bibliometric and thematic analyses, we map the intellectual landscape, identifying key journals, influential papers, and research trends. Our thematic analysis highlights key themes within digitalization and internationalization, providing a structured overview of their complex interactions and strategic implications for global business practices. The findings indicate that digitalization often drives internationalization, though it can also act as a dependent or mediating variable. Specifically, digitalization is portrayed as an independent driver in most cases, with internationalization depending on its advancement. The study emphasizes the need for further research on the reciprocal influence of internationalization on digitalization and the impact of country-specific characteristics such as technology readiness and cultural distance. This research enriches the understanding of how digital technologies are transforming international business practices and provides a framework for future studies, offering valuable insights for scholars and practitioners in international business.

Our study is the first one to look at how well messages written by artificial intelligence can be used to book appointments compared to humans when examining the approach phase of the Dupinski’s B2B sales process in an international context. We found that a message written by artificial intelligence is already equally effective in comparison to human beings in converting sales meetings. Furthermore, we found that while humans are significantly better at creating emails with general arguments, ChatGPT is equally effective at writing messages as human beings with a specific segmented message. The results show that artificial intelligence is capable of writing very human-like text even in a real business context, which has strong managerial implications. We conclude by suggesting exploring other possible phases of the international B2B sales process that could be streamlined using AI.

Managerial decision-makers are confronted with an increasing amount of information that has the potential to enhance strategic decision-making. However, an overwhelming amount of information leads to information overload, challenging their cognitive capabilities and adversely affecting decision quality. This study explores the impact of information overload on decision quality in international investment decisions, examining how perceived distance and the incorporation of artificial intelligence advice influence this relationship. Utilizing a sample of 625 participants, our findings indicate that information overload affects decision quality, with perceived distance intensifying this negative effect. However, integrating AI advice emerges as a significant mitigator, substantially improving decision quality by counteracting the effects of information overload. This research contributes to the international business literature by empirically demonstrating the adverse effects of information overload and perceived distance on decision quality and the efficacy of AI advice in alleviating these challenges, thereby enhancing international investment decision-making.

Over the last decades, research in international and product diversification has been extensive, yet limited attention has been given to the preference of firms between these options and the information processing of managers during this decision-making process. This study addresses this gap by further exploring how experiential knowledge can be substituted by information provision via artificial intelligence. Utilizing an experimental approach and a sample of 584 U.S.-based participants with management experience, our findings indicate a managerial preference for international diversification over product diversification, driven by perceptions of higher investment attractiveness. Furthermore, AI advice was found to reduce the investment gap between related and unrelated diversification strategies. Additionally, the impact of AI was more pronounced for product diversification compared to international diversification, suggesting that experiential knowledge is more likely to be substituted by AI-provided information in the decision-making process for product diversification. This study contributes to international business literature by integrating information processing theory into the current literature on diversification strategies, highlighting AI's potential to enhance strategic decision-making. The results underscore the need for further empirical research on AI's role in managerial cognition and decision-making processes in diversified business contexts.

Amid increasing geopolitical tension, governments divert to restrictive measures to enforce their foreign policy. To weaken the economies of target countries, sanctions may also impact the international operations of investors from the sender country, prompting them to divest subsidiaries in target countries despite sometimes heavy losses. According to macroeconomic findings, however, the overall effect of economic sanctions on subsidiary divestment is only limited. Firms may have strategies to avoid subsidiary divestments under sanctions, e.g., using new routes for the flow of goods and capital through auxiliary subsidiaries. As such strategies will only show at the micro level, we examine the relation between sanctions and foreign subsidiary divestments on a sample of Western MNEs and their affiliates in countries of the former Warsaw Pact, some of which had been targeted by EU’s sanctions in our observation period from 2012 to 2022. We find that economic sanctions do increase subsidiary divestments in target countries; however, the presence of auxiliary subsidiaries in commercial friendshoring locations or offshore financial centers reduces the likelihood of such divestments to a significant extent.

Sanctions represent a non-military form of response to specific events and challenges originating from abroad, which contravene the established norms and values of the imposing country or countries. Recent developments in international politics and the intensification of sanctions have spurred increased research on the impact of these sanctions across various fields, including International Business. The general stream of the current paper is international firms’ divestment from sanctioned countries under institutional disruptions, political risk, and uncertainty caused by the imposition of sanctions. The overarching research inquiry is built upon the institutional triality concept and revolves around the examination of factors influencing the decision-making process of companies regarding divestment from or persistence in the target market. We employ hierarchical logistic regression on a panel dataset of international firms that either operate within or withdraw from the Russian market from 2022 to 2024. We explore and explain the effect of country-level factors with regards to follow-the-leader strategy, such as sanctions compliance and political affinity towards the US as well as firm-level factors, such as the firm’s dependency on the US market.

We study Western firms’ response to an exogenous increase in political risk through Russia’s invasion of Ukraine. Building on the legitimacy-based view of political risk, we predict that Western firms with greater business exposure to Russia face heightened political risk in both their home countries and Russia and are thus more likely to exit Russia after its invasion of Ukraine. We further theorize that increasing public attention and greater support for Ukraine to Ukraine in Western firms’ home countries amplify the relationship between Western firms’ business exposure and their inclination to exit Russia. We empirically test our arguments in the context of Russia’s invasion of Ukraine in February 2022, which, in the eyes of Western countries, morally delegitimized Russia as a business partner and, therefore, increased legitimacy threats for Western firms with business activities in Russia. The results from these tests are in line with our arguments.

Economic sanctions are a policy tool a country’s government uses to penalize another country for violating international laws or norms. Third countries can get indirectly involved if they have trading relationships with any sanctioning or sanctioned countries. And such an impact can be significant. Existing literature has provided ample evidence of the scale and scope of these impacts and how they change the institutional landscape of countries involved in the trade war and those of third-country status. Yet the distinct responses of the third countries and their business remain undertheorized as the literature tends to undermine the unique impact of sanctions as a form of temporary institution. This paper investigates Vietnamese timber exporters in the context of US-China economic sanctions. We found that third countries’ businesses encountered both positive and negative impacts of the sanctions and employed four strategies: aligning, aspiring, influencing, and insulating. Our key contributions are how and when third-country firms intertwine reactive and anticipatory strategies. Moreover, we bring to the fore the notion of temporality – a core feature of sanctions as a coercive measure – instigating firm strategies that are more selective rather than full compliance.

This paper investigates relations between antecedents (attitudes towards sustainability, subjective norms referring to sustainability, perceived behavioral control and perceived multinational corporations` – MNCs environmental sustainability) and their influence on purchase intentions. Authors refer to the theory of planned behavior (TPB) as relatively little studies are based on TPB referring to its all assumptions, although it is suitable for studies on consumer behavior with regard to sustainability. This study enriches TPB by adding additional construct, i.e. perception of MNC`s fashion brands’ environmental sustainability. A sample of 551 fashion brands’ consumers from European Union (EU), India and USA was surveyed, and gathered data were analyzed with PLS-SEM. According to this research, consumers` negative attitudes towards sustainability, subjective norms referring to sustainability and perceived behavioral control have influence on perception of MNC`s environmental sustainability, and next – the latter influence consumers` purchase intentions. In turn, positive attitudes towards sustainability have no statistically significant influence. This study contributes to the body of literature on sustainability with regard to MNCs and consumers` environmental sustainability perception of these corporations, and its relation with consumer behavior. It also offers insights useful for managers.

Green cross-border merger and acquisition (green M&A) offer a rapid path for firms to obtain green resource and green technologies. Drawing on signaling theory, this paper studies whether investors are attracted to green M&A. Results show that the stock market performance of green M&A is better than that of non-green M&A. Moreover, when corporate accounting quality is high, green M&A has better stock market performance, that is, investors have a more positive attitude towards green M&A. However, when corporate diversification is high or the level of environmental investment is high, investors' attitude towards green M&A will be negatively affected. This paper provides a better understanding of green M&A and has theoretical contribution to signaling theory.

Using panel data from 2009 to 2021 of Chinese A-share listed companies and employing quantitative regression with double fixed effects, this study investigates how corporate green innovation affects environmental, social, and governance (ESG) dimensions. It also examines the moderating role of political affiliations in 34,132 firm-year observations. The study concludes that green innovation significantly enhances corporate ESG performance. Establishing a Party Organization negatively moderates the social performance enhanced by green innovation but positively moderates the governance performance enhanced by green innovation. The ratio of Party Members at the Management Level negatively moderates the social performance enhanced by green innovation but positively moderates the governance performance enhanced by green innovation. The ratio of State-Controlled positively moderates environmental and governance performance but negatively moderates social performance due to green innovation. Green innovation enhances ESG performance more significantly in eastern regions than in less developed regions. The findings of this research discuss the results of the CSR performance of firms at various levels, offer more effective suggestions for firm development and government policies, and provide insights into the effects of political affiliations on firms and their related development simultaneously.

The objective of this panel is to engage in a critical discussion and present state-of-the art research and government actions on Multinationals’ Societal Impact, focusing on how these firms can contribute to more inclusive and sustainable development for all stakeholders whilst achieving economic return for shareholders. The panel will focus on challenges of poverty, marginalisation and inequality, and how firms address these societal challenges. Panelists will present MNEs’ interactions with poor marginalised communities (e.g., addressing issues of education, health and growing local entrepreneurial capacity at grassroot level), and strategies to address different types of inequalities (e.g., gender and wage inequalities), before engaging in a critical conversation on how MNEs actions can lead to positive but also potentially negative societal impact.

In recent years, terms like Web3, blockchain, crypto, distributed ledger technology, tokens, and NFTs have become increasingly prevalent in international business news. However, these concepts are often difficult to understand and explain, presenting a unique challenge for educators in International Business (IB). Research on blockchain-based businesses within IB is still in its nascent stages, offering limited guidance for educators tasked with teaching these critical yet highly complex innovations to their students. In line with the conference theme “That’s Interesting!” this panel offers insights on new, interesting topic that is under-explored and yet needs to be brought to the IB classrooms reflecting on the emerging phenomenon and contemporary innovations in the field of IB. This panel aims to address the topic of blockchain in IB and challenges related to its complexity by providing IB educators with insights and strategies for effectively integrating blockchain concepts into the IB curricula. The panel will discuss how blockchain as an advanced technology can be integrated in various parts of the IB curriculum: learning goals, teaching/learning content and methods, and the assessment.

If we as business educators want a safer, more equitable, more secure, more environmentally conscious and sustainable world, we need to be able to prepare our students to help build one. This is a grand challenge, however itt largely is acknowledged that how business practitioners have been trained thus far has both contributed to the less safe, less equitable, less environmentally conscious and sustainable world we have now and has not prepared them to fix it. Clearly, business needs a new way of thinking and new ways of doing, but at the same time business educators (indeed, really, all educators) need a new way of teaching, one which prepares students to address highly complex and highly interconnected issues. As this indeed could be one of the most important issues facing international business over the next fifty years, the various and unique perspectives offered by the experienced scholars and educators in this panel will discuss possible ways in which how international business students can be better prepared to the grand challenges ahead.

Research methodology serves as the foundation upon which theories are built, tested, and refined, and its importance is receiving increased scholarly attention in international business (IB). At the same time, the widespread diffusion and adoption of artificial intelligence systems have challenged existing research practices, presenting both opportunities and challenges. On the one hand, AI systems can serve as virtual research collaborators that promise to unlock unparalleled efficiency gains as they help streamline our research by automating data analysis, generating insights, and assisting in the write-up of findings. Conversely, these systems can also work against us by diminishing our ability to engage in creative theorising and critical thinking, that may lead to a reliance on algorithmic practices and outputs that reduce the depth and originality of IB scholarship. In this panel, we explore these issues and stimulate debate around efficiency versus originality, methodology integrity and transparency and theory development. In engaging in these themes, we aim to chart a path forward that balances the benefits of AI while safeguarding the integrity and creativity that are the hallmarks of IB scholarship.

For the past three decades, the IB field has recognized that regardless of context – whether the MNE, global value chains, entrepreneurial firms, or cross-cultural teams – the key advantage of working across borders lies in the potential to leverage differences for innovation. However, this requires recognizing that a difference exists and that it is consequential. Compared to differences in location advantages or organizational capabilities, linguistic differences have been much less recognized in IB as consequential. Recently, however, the differences across natural languages (German, English, Chinese) have been acknowledged in the IB field, and IB scholars have started to pay more attention to the challenges of working across languages and coping more effectively with them. However, as we will argue in this panel, far less attention has been paid to the rewards of embracing linguistic differences as a way of generating new knowledge and theorize from it.

The purpose of this study is to investigate the mechanisms and strategies used by international SMEs to respond to crises. It specifically examines how international SMEs leverage dynamic capabilities for digital transformation and assesses whether they possess higher-order dynamic capabilities when facing rapid and unexpected international environmental changes. Utilizing a qualitative approach grounded in case studies of eight managers from China who experienced accelerated or initiated digital transformation plans during the COVID-19 pandemic, we find that dynamic capabilities based on digital technologies are continuously strengthened and refined during the crisis, evolving into second-order dynamic capabilities—namely, agility—thereby facilitating more effective crisis management. We also reveal these capabilities' different focal points and forms at various crisis stages—namely, preventive and proactive, innovative and flexible, and reflective and strategic. This research contributes by offering a new theoretical framework that links digital technology with organizational agility in international SMEs, emphasizing the evolution of dynamic capabilities throughout crises. It also offers suggestions on how managers can effectively guide digital transformation processes and manage crises to enhance agility and resilience for sustainable development.

Recent global events have brought attention to significant challenges across social, economic, political, and environmental dimensions. Health and war crises have sparked extensive discussions within the business community on navigating uncertainty and volatility. In response, businesses are increasingly emphasizing the need for strategic agility to adapt swiftly to dynamic market conditions, particularly crucial in competitive international markets. Effective adaptation requires organizational structures that integrate diverse perspectives to interpret global trends and respond proactively. Embracing an international perspective enables companies to align their strategies with the varied needs of global markets. International New Ventures (INVs) exemplify this by leveraging their agility to innovate continuously and sustain competitiveness amidst disruptions. This study examines how strategic agility and international vision contribute to firm performance. Using structural equation modelling on 289 Portuguese new ventures, it explores their impact on international business model adaptation and international performance. The findings enrich theoretical understanding of organizational dynamics and offer practical insights for optimizing strategies in dynamic global environments.

Recognizing the critical role organizational culture plays in preparing a company's responsiveness to daily changes, this research aims to elucidate how different cultural attributes and organizational agility influence the internationalization process. Using the Competing Values Framework (CVF), which categorizes organizational culture into Clan, Adhocracy, Market, and Hierarchy types, we examine the direct and mediated effects of these cultural types on company agility and international expansion.

Data from internationalized companies was collected with a focus on their organizational culture, agility, and internationalization specifics, and analysed with Partial Least Squares Structural Equation Modeling (PLS-SEM) to validate measurement models and test hypotheses, and complemented by Necessary Condition Analysis (NCA) to identify essential cultural and agility conditions for successful internationalization.

Findings indicate that there is no direct or indirect impact of cultures on organizational agility and internationalization. However, in the NCA model, it is possible to see that a certain level of agility, a certain level of each of the cultures and motivations to internationalize lead to the success of Internationalization.

This study contributes to the understanding of the role of organizational culture and organizational agility in the internationalization of companies, offering insights for companies that aim to prosper in a globally dynamic environment.

In this paper we analyse the role that business model innovation (BMI) plays in the relationship between the dynamic capabilities of redundancy and agility with the level of international presence of firms, measured by their degree of internationalisation (DOI). For this purpose, a sample of 179 organisations belonging to the Spanish food and beverage (F&B) industry was used. Applying the PLS-SEM methodology, the results show the importance of BMI as an element for channelling the existing positive effects of redundancy and agility on the level of international presence. As a consequence, this work demonstrates the need for companies not only to develop a wide and varied set of resources, both tangible and intangible, but also to carry out the necessary actions to design and implement business models that move away from the usual proposals in the sector, as their notorious influence on international expansion has been proven.

This study investigates the pursuit of international entrepreneurial opportunities (IEO), challenging the traditionally linear perception of this process. By utilizing the abductive process research approach and a critical realist lens, we evaluate IEOs within various contexts over time aiming for both iterative and flexible theorizing. The research explores the reciprocal interaction between entrepreneurs and their environments, examining how contexts shape opportunity pursuit and its evaluation, which affect favourable business strategies. In turn, opportunity pursuit influences the way entrepreneurs perceive surrounding environments and act upon that perception. Our findings reveal that opportunity pursuit is a non-linear process which is deeply influenced by integration with context. We highlight three main contributions to opportunity theory: the multiplicity of contexts and their effects, path dependence, and the reconsideration of temporality in opportunity pursuit. The study advocates for a paradigm shift towards recognizing the complex, non-linear nature of entrepreneurial opportunity evaluation, moving away from oversimplified traditional models. Our research advances the IEO discourse by identifying inefficiencies in current debates and suggesting pathways for further investigation.

Psychic distance has been conceptualized, defined, and operationalized differently by different scholars. It has also been used to explain different firm outcomes in international markets, such as firms' degree of internationalization and market performance. This has led to inconsistency in findings; hence, some have questioned the importance of psychic distance. Our paper aims to unpack some of these disagreements and inconsistencies. We do this by conceptually exploring that psychic distance is a multilevel construct, including difficulties with country and business distance. These levels should affect the firm degree of internationalization and performance. However, we further hypothesize that country distance should have a stronger effect on a firm degree of internationalization. In comparison, business distance should have a stronger effect on firm performance. Based on a quantitative study, we found empirical support for our predictions.

While uncertainty and human capital are treated as factors independently impacting equity crowdfunding investors’ decisions, literature on business angels and venture capital suggests that there is an interaction effect between the two. In focusing on this gap, the current study provides the first empirical evidence for the existence of an interaction effect between these indicators, where human capital moderates the negative effect of uncertainty on equity crowdfunding investors' decision-making. Moreover, we show that this interaction effect is also evident in high market uncertainty conditions as analysed both before and after the COVID-19 outbreak. We test these effects by analysing a proprietary dataset of 13,362 individual unaccredited investor-investment decisions made between July 2018 and December 2020, in technology-based venture equity crowdfunding campaigns.

In response to the calls for better understanding of impact of the non-Western business environment on business, this article explains how small and medium-sized enterprises (SMEs) respond to resource-abundant rather than usually studied resource-constraint conditions. The evidence from six SMEs in Qatar exposes the role of munificent environment in enabling SMEs’ early and proactive internationalisation. We also explain why SMEs in this munificent national context prefer to internationalise through low commitment entry modes and how such environment constrains SMEs’ progression to advanced modes. The work contributes to the current understanding of the role of context in SME internationalisation and outlines implications for management practice.

The role of macro-level factors has been identified as pivotal to firm performance. Yet, there is little focus on how home country infrastructure influences the export growth of small and medium-sized enterprises (SMEs) in latecomer economies such as transition countries. This paper addresses this concern by arguing that the relevance of home country infrastructure on SME export growth depends on the dynamic interactions of enterprise capabilities. We empirically test this assertion with a sample of 8663 firms from 16 transition economies. Using the Structural equation modelling (PLS-SEM) technique, we find that home-country infrastructure does not promote SME export growth. Additionally, we find that home-country infrastructure dampens the digitalisation of export-oriented SMEs. Moreover, we provide evidence suggesting that SMEs can benefit from digitalisation by leveraging innovation capabilities in their export growth strategies. The findings of this study strongly indicate that policy actions targeting infrastructure improvement in transition economies will enhance SME capabilities and export performance.

This study delves into the critical role of market orientation (MO) in international entrepreneurship, particularly in the context of exports. While previous research emphasizes the positive impact of MO on firm performance, this study examines its entrepreneurial implications, highlighting the overlooked dimensions of opportunity recognition and exploitation in an international business context. By differentiating between proactive and responsive MOs, this study elucidates how each dimension uniquely contributes to firm performance through these entrepreneurial mechanisms. Furthermore, it examines the moderating effects of export assistance and environmental dynamism on these relationships, providing a holistic view of MO’s role in entrepreneurial outcomes within international markets.

This work theorizes about the dyadic interplay between entrepreneurs and VCs and how these individual-level interactions lead to firm-level outcomes such as the initial decision to internationalize. We integrate agency and prospect theories to explain how different risk preferences (competing and non-competing) combinations between entrepreneurs and VCs can reduce or increase agency effects and the subsequent effect on the propensity to internationalize. Using prospect theory’s utility curve, we connote the reference point as an individual aspiration to show how higher entrepreneurial aspiration (reference point shifting) helps avoid agency effects and increases the propensity to internationalize. Based on six different scenarios, we provide several testable propositions and future research directions that can enrich international entrepreneurship theory and practice.

This longitudinal study applies resource dependence theory to explore how decision-makers in international small firms cope with uncertainty related to knowledge sharing with other firms. International small firms depend on other firms for knowledge that is critical for their survival, and must hence be able to cope with knowledge sharing uncertainty in the inter-organizational relationships with these other firms. Extant research has explored strategies for identifying and dealing with barriers to knowledge sharing and has also shed some light on the sources of knowledge sharing uncertainty. However, less attention has been paid to how knowledge sharing uncertainties are perceived, assessed and coped with. We help fill this research gap by following 19 Finnish international SMEs over a period of 3 years. Our findings indicate that small firm decision-makers simultaneously strive to avoid excessive dependence on external knowledge and try to shape key exchange partners' engagement in knowledge sharing by assessing knowledge sharing gaps, developing alternative knowledge sources, and influencing inter-organizational knowledge sharing relationships. These findings shed new light on inter-organizational knowledge dependence, knowledge sharing uncertainties, and SME decision-makers' role therein.

This study aim is twofold: 1) to uncover the effect of sensing, seizing, and transforming capabilities on firm’s performance during COVID-19 pandemic; 2) to reveal how internationalization affected firm’s performance during pandemic and whether dynamic capabilities can mitigate this effect.

We collected 204 questionnaires from CEO or senior managers of Russian SMEs operating both domestically and internationally in March-April 2022. We used structural equitation modelling (SEM) method to test the obtained data. The results confirmed our hypothesis on different effects of sensing, seizing, and transforming on firm’s performance during COVID-19 pandemic. Transforming capabilities turned out to be crucially important for firm’s performance, whereas sensing and seizing were insignificant. Nevertheless, all three DC dimensions (sensing, seizing and transforming) showed indirect positive effect on the performance of internationalized firms. We also found that internationalization negatively affects SMEs performance during crisis. The contribution of the study is threefold: first, we contribute to DC studies by uncovering the role of each DC’s microfoundations in managing firm’s performance; second, we explore how internationalization influence on firm performance during COVID-19 pandemic and how DC are able to change this effect; and third, we shed light on scarcely explored Russian context, representing an interesting laboratory for research

Purpose: To investigate, through a multidimensional approach, how an internationalizing e-tail SME cultivates certain capabilities that enhance its e-commerce and performance.

Design/methodology: The paper is based on longitudinal, single-case data from an internationalizing electronic retail (e-tail) SME in Sweden.

Findings: The findings imply that while capability development, in general, is important for e-tail SMEs, the development of digitalization and marketing capabilities have the most significant impact on overall performance for these kinds of retailers.

Originality: By extending knowledge about how three types of capabilities (internationalization capability, digitalization capability, and marketing capability) can be developed in tandem, this study contributes to international marketing research on how e-tail SMEs can work with capability development to boost their performance.

This study examines the interplay between exploratory strategy, service design capabilities, and service innovation in entrepreneurial start-ups in the UAE, using the Resource-Based View (RBV) and dynamic capability perspectives as the theoretical foundation. The research surveyed 500 startups from the Khalifa Fund and Sheraa databases, achieving 165 valid responses. Findings indicate that exploratory strategy significantly boosts both service innovation and the service design capabilities of founding teams. Furthermore, service design capabilities directly enhance service innovation and mediate the link between exploratory strategy and service innovation. Interestingly, founding team passion does not moderate the direct relationship between exploratory strategy and service innovation. However, lower levels of passion strengthen the relationship between service design capabilities and service innovation, as well as the indirect link from exploratory strategy to service innovation through these capabilities.

The study underscores the importance of investing in service design capabilities through targeted training and collaboration. It also challenges the conventional view on entrepreneurial passion, suggesting an optimal level is crucial for balancing creativity and objective analysis in innovation. Practical implications call for policymakers and incubators to foster exploration and continuous learning environments, enhancing start-ups' innovation potential.

This paper, grounded in the Configurational Theory, introduces a model for high-performing small and medium-sized enterprises (SMEs) to effectively address the new environmental challenges in traditional manufacturing Global Value Chains (GVCs). Based on a sample of 246 manufacturing companies, our model emphasizes five key strategic development axes: customization of products and services to meet diverse customer needs; commitment to sustainability through eco-friendly practices; forging strategic partnerships for ongoing knowledge acquisition and innovation; adopting blended manufacturing strategies that balance local and international production for optimal flexibility; and enhancing international commitment by improving distribution channels and market reach. This integrated model serves as both a foundation for systematic empirical investigation and a practical guide for managerial practice. Its dynamic and comprehensive approach provides valuable insights for policymakers and industry stakeholders, aiming to support the growth and development of SMEs in the manufacturing sector amidst evolving global challenges.

The influence of firms’ branding efforts on international business has been well documented. However, conceptualization and operationalization of international branding capability remains neglected, and empirical validation evidencing the effect of branding in SME internationalization remains underexplored. This research serves as a first attempt to develop a conceptualization of international branding capability, in the context of internationalizing SMEs, and explore the factors that drive it, as well as the consequences. Using surveys of a large data set collected from managers of international SMEs in an advanced emerging market, the study empirically verified the effect of international branding capability on entrepreneurial SMEs’ value creation (i.e., brand equity), which thus translates into superior performance. Additionally, international branding capability was found to be influenced by a specific set of international marketing capabilities – international marketing resource orchestration and construction of international market knowledge. This research pioneers study on examining the mechanisms underlying the building of strong brands for SMEs’ international expansion, thus increasing the generalizability of prior study findings focusing on large firms. Senior managers are advised to adopt the parsimoniously-developed scale to assess the effectiveness of their firm’s brand-building capability for business expansion in international markets.

Research emphasizing international customer engagement (ICE) has increased considerably recently given the globalization of technology and the subsequent complex variety of tastes, needs, and wants that have emerged in the marketplace. As there is a relative scarcity of ICE applications in the international marketing domain, this study evaluates the topic in considerable detail by introducing its intellectual structure through citation and co-citation analysis. Multidimensional scaling is used to introduce a network configuration of the ICE literature with bibliometric information taken from the Web of Science database. Utilizing over one decade of data, the intellectual structure of ICE research is used as a foundation to advance an integrative framework to assist in the identification of possible future research directions for the domain. Taken together, this approach is intended to advance the ICE topic in multiple directions to develop the field.

This research investigates the application of the psychological ownership concept in the context of importer-exporter relationship (IER) management. Building on Kim et al.'s (2024) finding that relationship building is a core aspect of psychological ownership, this study aims to explore the relationships between importers' psychological ownership towards their exporting partners and IER-based relational capital. A qualitative exploratory study with 14 French importers from various industries revealed five dimensions of psychological ownership, as identified by Jussila et al. (2015) in their meta-analysis: importers’ responsibility and territoriality, importers’ efficiency, importers’ identity, and importers’ belongingness feeling towards the exporter partner. Our findings also show that these dimensions are linked to elements of IER-based relational capital, including trust, commitment, and the reciprocity norm.

Firms’ perceived innovativeness can grant MNCs a distinct competitive advantage among consumers. While stakeholder orientation has been shown to drive innovation, little is known about how and why perceptions of firm orientations toward different stakeholder groups, e.g., customers, employees, and society, drive consumers’ perceptions of firm innovativeness in certain countries, but not in others. To expand this research stream, the authors apply information integration theory rationales and analyze the influence of perceived stakeholder orientations toward customers, employees, and society on perceived firm innovativeness across 22 countries. They additionally study the role of country development in these effects. Using multilevel structural equation modeling, they uncover varying effects of perceived stakeholder orientations on firm innovativeness and varying moderations of the development of a country. The insights provide direct suggestions for decision-makers seeking to understand how perceived firm stakeholder orientations affect consumer-perceived firm innovativeness in different countries.

There is a lively and important debate on the role of multinational enterprises (MNEs) in addressing macro-level ESG ambitions. The focus on MNEs’ contributions to environmental pollution has particularly intensified, with concerns raised regarding MNEs’ lacking emphasis on their environmental footprints. Common criticism of MNEs include pollution generated by geographically spread value chains involving long-distance transportation of input materials and finished products, the ability of MNEs to move production to contexts with lax environmental regulation, and increasing concerns of over-usage of non-renewable natural resources. This panel aims to generate a discussion about how we as IB scholars can contribute constructively to this dialogue. While we certainly agree that many (if not most) MNEs can ‘do better’, we want to encourage IB scholars to move beyond the ‘blame game’ and instead contribute to an in-depth understanding of complexities that may hinder progress, and how firms and societies can work to resolve these.

Fifty years ago, in 1974, CK Prahalad, then a doctoral student at Harvard Business School, engaged in the first significant process study of the management of strategic redirection in MNCs. Since then, starting with Yves Doz, there has been significant process research in IB on the management of multinational companies. During those decades qualitative process research methods on organizations have been developed, formalized and applied but seldom specifically on multinational management.

The objective of this panel is to review and provide a perspective both on the work of CK Prahalad, as a precursor whose contributions opened the way for further research and on the current status and relevance of management process research in researching multinationals today.

This study examines the impact of socially responsible HRM practices on innovative work behavior. The study is based on a sample of 142 companies operating on the Russian labor market. The research model was tested using the partial least squares structural equation modeling. Our results revealed the mediating role of well-being-oriented HRM practices in explaining the relationship between socially responsible HRM practices and innovative work behavior. At the same time, we did not find support for the direct effect of socially responsible HRM practices on innovative work behavior.

The ever more increasing popularity of global virtual teams (GVTs) has brought attention to the importance of team identification in these diverse and geographically dispersed work settings. This study examines the relationship between emotional intelligence (EQ), team identification, and performance outcomes in GVTs, drawing on social identity theory as a theoretical framework. Employing data from 2,024 international participants collaborating in 443 GVTs from 37 countries, we conducted multilevel structural equation modeling to examine the direct and indirect effects of EQ dimensions on team identification and performance. Our findings reveal that the EQ dimensions, except for self-emotional appraisal, positively influence team identification in GVTs. Furthermore, we find that team identification mediates the relationship between certain EQ dimensions (others’ emotional appraisal, regulation of emotion, and use of emotion) and team performance, but not individual performance. This study contributes to the understanding of team identification and performance in GVTs, providing valuable insights for human resource managers seeking to optimize the effectiveness of their GVTs.

Collaborative projects increasingly rely on employees working at geographic distance (EGD). However, the relationship between EGD and employee-level outcomes is yet to be fully understood. We propose that EGD can carry attention and information search costs, which increases working hours and delays in project completion. Next, we postulate and test three theoretically derived moderators: multi-project work, specialization, and seniority. As expected, multi-project work increases the burden of distance while specialization and seniority mitigate it. Our findings imply that while geographic distance harms employee well-being and project completion, employees with senior and specialized roles and fewer simultaneous projects fare better than others.

Flexible global work challenges the underlying assumptions of static expertise in multinational corporations (MNCs). While two well-established forms of passive and projected expertise still lay the critical foundation of expertise, we argue that they need to be complemented with a more active approach. Combining insights from 21 semi-structured interviews in three MNCs and linguistic analysis of meeting observations in one of the MNCs, we illustrate how expertise is established and negotiated continuously and thus propose a novel concept of action-based expertise. With our findings, we add a nuanced understanding of the role of a strategically important workforce in MNCs – global experts – and how proactive and adaptive approaches are needed in the increasingly fragmented global work.

This study examines the evolving understanding of procrastination within organizational behavior, challenging the traditional view of it being solely negative. While procrastination has been linked to decreased productivity and missed deadlines, recent research suggests it can also have neutral or positive effects, such as reducing anxiety and enhancing creativity. The study integrates the concept of temporal personality, focusing on polychronicity (preference for multitasking) and monochronicity (preference for focusing on one task at a time), to explore how these orientations interact with procrastination and influence performance. The primary research question investigates whether procrastination positively or negatively affects performance in organizational settings. The study hypothesizes that polychronicity is positively related to procrastination, while monochronicity is negatively related. Additionally, it examines the impact of procrastination on in-role and extra-role performance and explores country differences and counterproductive work behaviors. By proposing a theoretical framework and conducting an extensive literature review, this research aims to provide a nuanced understanding of procrastination's role in the workplace and offer valuable insights.

Global virtual teams (GVTs) have emerged as a significant phenomenon since 2000 for a variety of both positive and negative reasons (Lynden, 2024). The proliferation of GVTs has elevated the importance of managing such teams effectively. A critical element of this management concerns the interpersonal relationships among team members, particularly their communications. These interactions often trigger events (stimuli) that can generate negative emotions among team members, potentially due to misunderstandings, existing dynamics during meetings, workload stress, and the unique nature of social connections in such teams. In this qualitative study, through interviews with 53 GVT members from diverse companies and nationalities, I explore this process using the Affective Events Theory (AET) and the Theory of Constructed Emotion (TCE) to explain the emergence of these negative emotions partially through each theory.

The field of international business (IB) has a long history of examining the nexus between FDI and economic development, with diverging views on its causal direction, mechanisms, and outcomes. However, the focal questions and levels of analysis have substantially changed over time, leading to the question of whether a new paradigm shift has emerged in our thinking about how FDI affects economic development. The aim of the panel is to answer this question by re-examining the FDI-development nexus through contemporary and state-of-the-art insights. We focus on how FDI affects sustainable economic development in developing countries. We first discuss how the knowledge and realities of the underlying mechanisms and boundary conditions have evolved far beyond those considered in earlier IB literature, including the boundary conditions incorporated in the SDGs. We will then propose and discuss a research agenda on IB and development to advance the debate on the impact of MNEs on their broader social context.

Multinational Banks (MNBs) have the potential to drive sustainable growth by prioritising capital allocation, social responsibility, financial inclusion, and fostering a culture of sustainability. Global partnerships are essential in advancing these objectives. Despite their importance, the contribution of MNBs to Sustainable Development Goal 17 - Partnerships for the goals (SDG17) still needs to be explored. This study employs a Systematic Review of Literature (SLR) using the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) methodology (Page et al., 2021b,a) to identify, screen, and evaluate relevant literature from 2015 to 2023. While some studies illustrate the positive impacts of MNBs on sustainability through financial inclusion, infrastructure development, and capacity-building initiatives, other studies highlight challenges such as governance and funding constraints that impede effective SDG implementation. Additionally, this review uncovers a notable gap in the literature regarding the formal involvement of MNBs in SDG17,i.e., Banking Social Responsibility (BSR), with few studies addressing this aspect directly.

The convergence of factors such as climate change, geopolitical tensions, and recent global disruptive events has heightened the complexity of international procurement decisions. Adopting a behavioral lens, this study explores how individual characteristics and cognitive biases influence procurement managers’ decision-making processes in navigating the trade-off between resilience and sustainability. By examining these biases and their impact on managers’ strategic evaluations, this research seeks to fill a critical gap in understanding managerial decision-making process within the context of international market dynamics. Preliminary findings reveal that age and industry-specific factors significantly shape procurement managers' strategic decisions. This paper aims to offer practical insights for firms, aligning managerial tendencies with organizational goals and guiding decision-making amid uncertainties in the global business arena.

This study explores how a firm’s foreign operation that was motivated by a notion of sustainability fell short of advancing sustainable development in the host country and considers contributing factors to the shortcomings. It draws on the framework of sustainability governance from the global value chain perspective while revisiting the concept of immiserizing growth.

The paper adopts a case study design relating to a Japanese hand sanitiser manufacturer, Saraya, and its FDI in Uganda. Saraya’s scope for sustainability and its approach to the host-country context are analysed through content analysis of archival data.

Although Saraya has been successful in promoting its business in Uganda alongside hand-washing campaigns focusing on hygiene practices, its narrow scope of sustainability has failed to address wider issues at the macro level, especially on sugarcane farmers who are positioned at the bottom of the value chain.

The paper provides a unique case of Japanese FDI in Africa, which is largely understudied. Our study demonstrates the case firm’s efforts and shortcomings through its FDI that was intended to contribute to sustainability. By considering the context-specific factors, the study also sheds light on the nexus between value chains and poverty in the host country during the coronavirus pandemic.

Amidst the heightened imperative for multinational enterprises (MNEs) to implement substantial corporate social responsibility (CSR) actions, they encounter a multifaceted array of fragmented environmental and social laws, regulations, and expectations across different countries. This heterogeneity poses considerable challenges to crafting CSR strategies that are both effective and compliant within local jurisdictions. This study examines how emerging market MNEs (EMNEs) address the complexities of cross-border institutional environments by engaging in institutional works to manage and mitigate conflicts at the micro/local level. Through a multi-case analysis of ten Chinese MNEs operating in Australia, we identify two key home-country meso-level constrains and eight distinct practices of institution creation, maintenance and disruption employed by these subsidiaries, ranging from delineating boundaries and responsibilities to decoupling organization from implementation. These practices help reconcile internal conflicts and adapt operations to effectively - or ineffectively - implement localised CSR practices in developed host markets. Based on our findings, we propose a typology that enriches the theoretical understanding of the convergence versus divergence in MNE CSR by integrating the dimensions of home-based meso-level institutions and institutional works into the formation of cross-border CSR strategies.

Humanitarian relief efforts increasingly depend on corporate philanthropy and corporate donations. In times of war, however, corporate philanthropy is complicated because stakeholders may interpret corporate donations as politically partial. Corporate donations may therefore impact corporations’ relations with warring countries, endanger corporate assets and operations, and affect corporate reputations both positively and negatively. Using a unique dataset of humanitarian pledges by Europe’s 300 largest corporations following Russia’s 2022 invasion of Ukraine, we examine when corporations give in times of war and why many made humanitarian pledges while others did not. Our fsQCA analysis reveals different pathways to corporate giving in the context of interstate armed conflict and suggests that corporations pledging donations consider social, strategic, and mimetic bandwagon-related factors in conjunction. The findings extend the understanding of corporate philanthropy by revealing how the politicized context of armed conflict complicates motivations for corporate donations and demonstrates how corporations’ economic interests can both enable and hinder corporate philanthropy in times of war.

Our study explores the intricate relationship between political connections, undisclosed executive compensation, and corporate social responsibility (CSR) decoupling within emerging economies. Analyzing 3,912 firm-year observations from 2010 to 2021, we reveal that political connections combined with undisclosed executive compensation significantly increase CSR decoupling due to unethical practices like bribery. We propose that state ownership, foreign ownership, and transparency can mitigate this effect. State ownership enhances government monitoring, aligning firms' interests with societal goals, while foreign ownership introduces global ethical standards, reducing the gap between stated and actual CSR practices. Enhanced transparency in corporate governance discourages unethical behavior and promotes accountability. Our findings challenge the assumption that political connections inherently lead to substantive CSR due to government scrutiny, highlighting instead the potential for ethical lapses when executives receive undisclosed compensation. This research enriches Cognitive Dissonance Theory by demonstrating organizational dissonance and extends stakeholder theory by examining diverse monitoring roles. Additionally, it emphasizes the importance of transparency and ethical accountability in executive compensation. Practically, our study offers insights for investors, regulatory bodies, and companies in emerging markets, advocating for genuine CSR efforts and ethical business practices to improve corporate governance.

This paper explores the construct of organizational identity, used by top managers as a cognitive filter to interpret environments and align corporate behavior with stakeholder expectations. Focusing on foreign market exit decisions, it analyzes the influence of societal and organizational values on strategic responses to external shocks, according to a theoretical and configurational multiplicity approach, to conduct fuzzy-set qualitative comparative analysis on European and Nordic companies. The results contribute to foreign ethical divestment literature, by revealing that various configurations shape decisions to exit from the Russian market in response to its invasion of Ukraine. Both moral and economic factors play a crucial role in these decisions. Nordic companies, reflecting higher ethical standards, align with the expectations of their home societies and the Nordic socioeconomic model. The study also highlights the impact of organizational values on corporate reactions to geopolitical events, in addition to the traditional exit antecedents that influence the choice of exit routes.

Behavioral theory of the firm (BTOF) explains how organizations make adaptations by learning from performance feedback, while theory remains underdeveloped in illuminating firms’ strategic origins (or “gene”), from which to make the adaptations. Incorporating insights from imprinting theory, our study advances the BTOF framework by identifying a strategic origin that shapes firms’ institutionalized search and by exploring interactions of institutionalized and situational search. In the context of China’s transitioning economy, we theorize that 50s-70s firm founders who received college education in science and technology (S&T) in the early years of China’s institutional transitions were imprinted with a strong belief in S&T importance, which constitutes their firms’ strategic origin in innovation and thus shapes institutionalized R&D search. We further explore how such imprinting influence is contingent on situational adaptation driven by performance feedback. Using panel data on 556 Chinese listed firms with 50-70s founders in technology-oriented industries in 2006 –2016, we find that firms with S&T-educated founders make greater R&D search than firms without S&T-educated founders. Moreover, the positive influence of founder S&T education is generally stronger in response to higher negative and positive performance feedback.

Chief Executive Officer (CEO) human capital plays a significant role in both CEOs’ strategic decisions and their selection and compensation processes. As executive leadership is more likely to be a prominent determinant of firms’ strategic direction in the EMs, considering the interrelatedness of CEO generalist experience and chair generalist experience and CEO power can provide important granular insights on the internationalization behavior of EM firms. In this study, we try to understand how CEO and Chair human capital specificity (generalist vs. specialist) and CEO power have an impact on the FDI motivation of Turkish MNEs. The study is based on a sample of 85 completed cross-border mergers and acquisitions by Turkish MNEs for the years 1997-2021. We found that while generalist CEOs move with an exploration-based FDI motivation, specialist CEOs pursue an exploitation-based FDI motivation. Moreover, CEO tenure has a strengthening power on generalist CEO and exploration motivation and a weakening effect on specialist CEO and exploitation motivation. We tried to contribute to the strategic leadership and upper echelons domain by investigating how key decision-makers’ human capital impact strategic decisions with regard to internationalization and FDI motivations.

This study examines the impact of political connections on the outward foreign direct investment (OFDI) of emerging market firms. It also explores how political connections interact with OFDI to influence firms’ innovation performance. By developing four research propositions, this study has three contributions. First, it enriches the resource dependence theory literature in the context of international business. Second, it provides a more profound theoretical understanding of political connections by distinguishing political connections in terms of local and central political connections. Third, it provides a more holistic understanding of the influence of political connections on OFDI by examining both the propensity of politically connected firms to undertake OFDI actions, and the innovation efficacy of these actions.

Regional agents stand between consumer electronics manufacturers and consumers in the United Arab Emirates (UAE). Agents play a crucial role for the original factory, with regional agents required to develop the market, manage accounts, provide financial support, and offer technical assistance to consumers. Taking a case study approach, we examine the operational situation of a regional distributor-company in the consumer electronics industry in terms of value chain and profit model in the UAE region. Specifically, we look into the value chain composition of a focal UAE-based distributor-company and identify its profit model. In this study, we detail the value activities of each link in the internal and external value chains. We first explore the vertical value chain of the regional distributor and then we reveal the nuances of the internal value chain of this distributor in the consumer electronics industry. We believe that our study offers valuable insights for business managers aiming to enter the UAE market by highlighting the importance of the construction of a comprehensive vertical and internal value chain and their link with the profit elements. Future research may consider using financial data to enhance the objectivity of research findings.

We identify corporate social irresponsibility (CSIR) as an important impetus to corporate social responsibility (CSR), supplemental to the impetuses depicted in CSR literature. Drawing on the stakeholder perspective, we develop a model on the influences of stakeholders on the choice of two CSR strategies, investments in pollution control and corporate philanthropy, to offset CSIR. Our analysis of original survey data from 880 private manufacturing firms in China shows a positive association between CSIR and CSR. We find that the degree of family shareholding strengthens the effect of CSIR on corporate philanthropy, while government linkage strengthens the effect of CSIR on pollution control. The local and international communities strengthen the effect of CSIR on both dimensions of CSR. But, the moderating effect of the international community is stronger than that of the local community. These findings shed new insights into CSR and the stakeholder complexity in emerging markets.

The paper examines the relationship between the informal economy and foreign direct investment (FDI) in South Africa and Nigeria. In particular, the paper attempts to discuss the informal economy as a determinant of the FDI. Nigeria and South Africa are the two largest economies in terms of nominal GDP in Africa. And, the informal sector is also an integral part of these countries and plays a key role in economic growth. This paper proposes a theoretical framework based on Dunning's (1981) classic OLI paradigm to analyse the relationship between the informal economy and FDI. The results show that the informal economy has a positive and significant relationship with FDI.

The EIBA History Panels are aimed at sharing recollections about EIBA’s past as well as visions for EIBA’s future. More specifically, the Panels have three main objectives: (1) to provide younger generations with information and ‘stories’ about the history of EIBA and visions for its future; (2) to allow older members from the audience to remind moments they have lived and provide their own remembrances; and (3) to elicit a debate to generate new ideas regarding the future of EIBA.

This panel will address the role of Reijo Luostarinen and EIBA Helsinki-1989 in completing EIBA's turnaround. It will also discuss the similarities and diferences in the IB context in 1989 and 2024. This will enable to develop visions for the future of EIBA.

Panelists will include, besides the Panel Chair, two EIBA Fellows (Francesca Sanna-Randaccio and Jean-François Hennart), the co-organiser of EIBA Piraeus-2025 (Constantina Kottaridi) and a young scholar, co-winner of the CBS Prize in 2023 (Ilka Weichert).

This will be a great occasion to think about the past and the future of EIBA while honouring Reijo Luostarinen's contribution. For sure, attendees will say at the end, with a smile, 'It's Interesting!'

This paper builds on the assumption that smaller firms that operate on sustainable business models at outset have the capacities to innovate and drive change proactively on a national and international scope. In the literature, this special breed of SME has been labelled “Born Sustainable Firms’ (BSFs). The purpose of this study is to conduct a systematic review of the literature and delve into the organizational characteristics, innovative practices, and ecosystems of partners that distinguish Born Sustainable SMEs as recognised by the literature as the key characteristics of these firms. It aims to uncover how these firms embed environmental and social considerations into their DNA, the innovative approaches they adopt to address sustainability challenges, and how their network of partners (on an international and national level) supports or constrains their sustainable development objectives.

Economic inequality is a major societal concern with implications for business and management. Recent literature in business and management demonstrated multifaceted effects of business on inequality, as well as effects of inequality on business operations. This paper argues that an important next step for this literature will be to consider the moral dimension of inequality and engage with questions of distributive justice – the different theories and principles for a just distribution of economic goods and burdens in society. A systematic literature review is conducted to map the literature on topics related to distributive justice in business and management across various sub-fields. We find that the bulk of the literature has focused on distributive justice in an organisational justice context, studying the drivers and outcomes of the distributive justice perceptions of organisational actors. A smaller set of literature considers the role of business for societal-level distributive justice. Philosophical theories of distributive justice are used in some studies, with John Rawls’ Theory of Justice being the most widely used. Based on the review, the paper discusses the step from organisational justice to societal-level distributive justice in management and explores potential benefits and challenges of increased engagement with philosophical distributive justice theories.

This paper is one of the pioneering academic studies which has used fiction (novel) as a context to analyse liability of foreignness (LOF); a concept which has been significantly studied and analysed so far in the extant literature. The paper presents arguments concerning how use of fiction has potential to enrich understanding of such a multifaceted concept. The current work-in-process paper uses the novel “A Bend in the River” by Nobel Laureate V.S. Naipaul as a setting to present the immigrant entrepreneurs navigation of individual, structural and contextual factors by analysing their journey through Boudieu’s social capital theory. Specifically, Bourdieu’s arguments concerning field, capital and habitus are used to analyse navigation of LOF by immigrant entrepreneurs in the chosen novel.

This paper aims to highlight the challenges associated with the agency required from the IB researcher to make decisions related to translation of data, in particular when moving between languages using different alphabets. We argue that translation is a value laden process where the translator has an agentic role, making decisions in the translation process that need to be unpacked and made transparent to achieve methodological rigor.

We draw on an empirical study carried out in the Urdu language in Pakistan to highlight the methodological challenges and opportunities in transcription and translation between languages. We highlight a particularly unexplored implication of translation within the management literature as being the very act of transcription itself, which is a first step in transforming data from the oral to the written, and demonstrate how choices made by the researcher at this stage can influence the entire analytical process.

Building on this experience, the paper presents a framework to guide IB researchers dealing with multilingual data, particularly as it relates to transcription and translation processes. Furthermore, we discuss how such a framework provides a space in which to break open broader epistemological questions about how translation decisions affect our knowledge production processes.

Research on the cultural aspects of glocalization in the International Business field often uses the metaphor of ‘flow’ to describe the global consumer cultures. Despite the theoretical and empirical richness, by grounding on the global–local dyad, previous works reached an impasse in (1) explaining the formation of various global cultural forms within a local context and (2) the dynamic local institutions that co-evolve with interactions between local actors. This research project proposes using the ‘wave’ metaphor as an alternative perspective for studying glocalization. We study how Western and non-Western pop music are refracted when they pass through the Vietnamese youthscape. The findings from our seven-year ethnographic study show that young Vietnamese consumers experience Western and non-Western pop music as gender-based structures, based on which they deal with their socialization and individualization to fit with the transition of the Vietnamese market. Surprisingly, the global-local dyad has been replaced by other dyads, such as mainstream/marginal tastes and young consumers/government in the diffusion/adoption of Western and non-Western pop music.

Despite the opportunities offered by the European Union (EU), its single market and globalization at large, most European SMEs still largely depend on their domestic markets. While internationalization incentives and support for SME growth are well explored, there is no evidence of how SMEs’ relations with local governments and their participation in public procurement (PP) influence subsequent internationalization. We apply the Resource Based View (RBV) to investigate how participation in domestic PP affects the upgrading of SMEs’ resources and capabilities, which in turn influences their export performance, by distinguishing between regional and global international focus. We analyze a sample of 599,616 Slovenian SME firm-year observations in the period from 2014 to 2022, which represents all Slovenian SMEs. The results show that SMEs involved in PP report significantly higher subsequent export revenues than firms not involved in PP, but the results are stronger for regionally focused internationalization. These results can contribute to further theory development in the area of PP and international entrepreneurship, and guide future research in the field.

This study examines the effect of managers’ misperceptions of country differences, i.e. underestimating and overestimating formal and informal institutional distance, on foreign location choice. Further, we examine the moderating role of managers’ cognitive styles as the underlying reason behind managerial misperceptions of institutional distance that inevitably affect a foreign location's attractiveness. Drawing data from a vignette experiment on 208 international managers originating in China, our research findings enrich our understanding of how and why managerial misperceptions of institutional distance influence foreign market attractiveness and underscore the significance of cognitive traits in rectifying such misperceptions.

This study focuses on the role of informal institutions on entrepreneurial dynamics in France and Morrocco. Drawing upon the institutional theory, we explore the interplay of informal institutions, entrepreneurship and gender. Based on 26 semi-structured interviews, this study aims to uncover the influence of informal institutions on entrepreneurs’ business endeavors alongside institutional change. Key findings include the significance of family, trust, and reciprocity, as well as the critical role of one’s patronym in leveraging wasta in Morocco. Informal institutions persist even in developed environments while formalizing institutions in emerging countries inadvertently heightens industrial rivalry and escalates wasta usage.

Franchising serves as a pivotal strategy for companies venturing into international markets, balancing rapid expansion with controlled brand management. This study explores the factors influencing entry mode decisions among Spanish franchisors operating globally. Drawing on a comprehensive dataset from the Spanish Franchise Association and Tormo & Asociados, which covers 52 sectors and 305 franchise chains across 140 countries as of late 2022, the research identifies key drivers such as international experience, brand awareness, and host country characteristics, including cultural distance, geographical distance, economic development, corruption, political stability, unemployment rates, and the efficiency of contract enforcement. It also considers industry type (product vs. service). The study employs a multinomial logistic regression model to analyze how these factors shape the selection of entry modes: direct franchising, master franchising, joint ventures, and direct investment. By integrating insights from international business and franchising literature, this paper enhances the understanding of the nuanced strategies employed by Spanish franchisors in diverse global contexts. The findings offer practical implications for franchisors seeking to optimize their international expansion strategies amidst varying market conditions and regulatory environments.

There are debates about the era of de-globalization, rise of nationalism, but also about alternatives like poly-globalization. As international business activities are increasingly influenced by “friend-shoring” and geopolitics, the question of open and inclusive business and entrepreneurship becomes a concern. What does open and cosmopolitan business contexts mean and how do these elements impact Small- and Medium-sized Enterprises (SMEs), entrepreneurial firms and migrant or diasporic businesses? While mainstream International Business research typically addresses big multinational enterprises and challenges they encountered during internationalization, the role of small businesses and different business actors remains relatively underexplored. Migrant businesses or countries of origin that are underdeveloped face numerous challenges. New businesses and entrepreneurs from abroad foster innovation and growth and increase international trade. Thus, it is crucial to discuss how cosmopolitan and inclusive business contexts continue to develop under current challenges, such as geopolitical shifts. We discuss developments of cosmopolitan and inclusive business contexts shaping the global markets from different disciplinary views and various regions, including Europe, Africa and Asia. By integrating insights from experts on Portuguese, Swedish, Russophone, African, and Chinese businesses and entrepreneurship, we foster a deeper understanding of how inclusivity and cosmopolitanism can enhance and retain international business and entrepreneurship.

This study argues that the diversity of a firm’s home base and the underlying learning mechanism positively affect commitment increases. We expect that when a firm enters a new host country, its foreign experiences become more diverse, and thus, it can leverage a broader knowledge base to learn from and subsequently increase extant foreign commitments (i.e., assets). We further examine the moderating effects of parent firm industry diversity and knowledge intensity of the newly added foreign activity and expect both factors to influence the diversity-commitment relation negatively. In our dataset of 13,069 Austrian companies investing abroad between 1989 and 2019, we find support for the main effect and the negative knowledge-intensity moderator. Contrary to our hypothesis, we find a significant positive effect for the industry diversity moderator. The results reveal how changes in a firm’s home base can trigger commitment changes in existing countries.

This paper explores the design of early business models tailored for the Bottom of the Pyramid (BoP), focusing on integrating ecological impact alongside economic viability. While BoP mar-kets present significant economic potential, their unique institutional contexts and lower con-sumer incomes necessitate innovative approaches beyond global replication. Addressing the gap in existing research, which often overlooks ecological sustainability, this study advocates for business models that incorporate circular economy principles, such as reuse and recycling, to extend product lifecycles and reduce environmental footprint. Drawing on literature in interna-tional management, marketing, and innovation management, the paper proposes a blueprint for a sustainable early repurposing business model. This blueprint is exemplified and refined through a multi-method study on the reuse of car batteries for solar storage in remote regions, highlighting technical feasibility and economic, social and ecological benefits. However, eco-nomic viability remains a critical factor for scaling these initiatives. The study concludes by dis-cussing implications for practice and future research directions, aiming to contribute to the de-velopment of inclusive and environmentally conscious business strategies for emerging markets at the Bottom of the Pyramid.

We investigate the effect of impact investment – investing to secure both financial and social returns – on the relationship between country risk and foreign investments. It is well established in the strategy and international business literature that country risk negatively affects foreign direct investment. However, some multinational firms maintain operations in high-risk countries despite significant institutional hazards. Why? We argue that impact investment mitigates the adverse effects of institutional hazards in host countries through two mechanisms: Provision of patient capital, and knowledge transfer and capacity-building programs. These mechanisms make it more economically viable and legitimate for multinationals to sustain operations in high-risk countries. Analyzing 794 U.S. public firms and their subsidiaries in 79 countries from 2000 to 2015, we find that impact investments reduced the investment retrenchment effect of country risk by 20.6%. Our study adds to the research literature on country risk and foreign investment and offers practical insights for multinationals seeking effective tools to address host country institutional hazards.

Tensions between control and autonomy in multinational enterprises (MNEs) have attracted considerable academic interest, which has been additionally fueled by multiple crises following the 2008 global recession. These have intensified the exploration of inter-entity relationships within MNEs and their implications for risk and crisis management and resilience. Our study examines how the autonomy of subsidiaries in a risky Central and Eastern European market (Slovenia) influences risk and crisis management strategies as well as resilience of subsidiaries in the midst of global crises such as the Covid-19 pandemic and war in Ukraine. We analyse the performance of foreign subsidiaries during these two crises (2019–2022) with a particular focus on the impact of centralisation tendencies in the home country of the MNE’s headquarters on subsidiaries’ growth as well as their risk and crisis management responses. The results demonstrate above-average performance of foreign-owned subsidiaries, highlight the role of subsidiary autonomy in risk and crisis management, and show how multinationals prioritise the value creation of subsidiaries in emerging markets by granting them greater autonomy in times of crises.

Globalization has contributed to many positive effects around the globe in terms of improved economic, health and educational conditions. Multinational business enterprises (MBEs) have been instrumental in achieving these successes. This paper focuses on globalization of MBEs from an international business point of view. We apply a process ontology relying upon the Uppsala globalization process model in the description of globalization. Obviously, the emergence of a MBE positive context has played a critical role by offering opportunities for MBEs to expand to new territories, exploiting country-specific advantages building strengths in terms of economies of scale and scope and engaging in knowledge development to strengthen firm-specific advantages. The advantages of globalization are made by reconfiguring business and development activities simultaneously changing the control and coordination systems accordingly. The gradually more geographically dispersed and fine-sliced network of owned and external business units increases the complexity of managing the more or less global organization which presumably requires decentralization of the coordination. We think that inclusion of the micro-foundations and continued digitalization and application of artificial intelligence offers exiting opportunities for future research of globalization.

Digitalization is a trend that changes the internal and external pressures that multinationals consider as they design or evolve their organizational model. Despite the issue of the appropriate organizational model being core to managing the multinational, the new organizational models that MNEs adopt to embrace digitalization remain to be explored. To understand the organizational models of the MNE in the digital world, we are conducting theory-building case studies of US multinationals. Our preliminary analysis reveals the global organization model with distinct implications for strategic capabilities, cross-border alignment, knowledge creation and sharing as well as cross-border managers, compared to the transnational model. This study contributes to international business by developing knowledge on the organising implications for multinationals as they leverage digitalization.

In this study we investigate the post-M&A integration process of one large multinational corporation (MNC) aiming for two types of synergy with the same target: market power synergy and internal synergy. Based on survey results, discussions with the integration team of the MNC, and prior research we develop a causal loop diagram and simulation model. The diagram and model capture the interrelations of expected and realized synergies, employee’s negative emotions, and managerial focus on task and human integration in response to (not meeting) expectations and negative emotions. Our analysis unpacks how the simultaneous pursuit of two types of synergies can lead to both dis-synergy and co-synergy. We find that negative emotions can arise when synergy expectations are not met. However, we also find that when attended to, these negative emotions can trigger a change in the integration process which supports the creation of co-synergies which can make post-M&A synergy realizations better than expected. Contrary, the absence of negative emotions, when synergy expectations are met, may prevent a change in the integration process, which could lead to dis-synergies. Interestingly, our findings indicate that when used as a warning signal, negative emotions can trigger positive outcomes (co-synergies).

Multinational enterprises (MNEs) have increasingly been moving headquarters (HQs) across borders. While the drivers of this consequential event have received substantial scholarly attention, we still lack an understanding of the outcomes of HQ relocations. The paper addresses this shortcoming and analyzes how investors reallocate their portfolio in response to announcements of HQ relocations. Drawing on investors’ home bias, we build theory around different investors’ reactions on announcements of HQ relocations contingent upon their location (vis-à-vis the location of the HQ), the investors’ sector, the type of HQ, and the HQ’s importance for the domestic market. Using a unique dataset on 167 European cross-border relocations of corporate, regional, and divisional HQs between 2009 and 2022 with stock-level holdings of international investors, we find that investors show a substantial home bias and significantly divest from (invest into) firms that relocate their HQ away from (to) the investors’ home country. The investors’ home bias is stronger if households make up a larger share of the domestic investors, if corporate HQs are relocated, and if relocated HQs have stronger ties to the previous domestic economy. Thanks to those findings, we contribute to the literature on HQ relocations, investor behavior, and foreign investments.

The international dispersion of fragmented tasks has led to the formation of global value chains (GVCs), linking diverse firms across borders. Traditionally seen as drivers of economic and social progress in developing countries, GVCs enable firms to advance technologically and improve worker conditions. However, economic gains often fail to translate into social benefits, as seen in cases like Nike’s contractors and Rana Plaza. The aim of the panel is to offer new perspectives on GVCs in an international business context. We will discuss why irresponsible practices persist across the GVC, question assumptions on the role of the MNE vs the suppliers, emphasize novel insights from economic geography, and discuss broader policy implications.

This panel will explore key questions highlighted in the call for papers for this track, including: ‘the impact of pandemics, international conflicts, and other geopolitical challenges on firm strategies, how they organize their GVCs and international collaborations’, and: ‘Are firms scaling back to regional value chains instead of globally dispersed value chains, relying on local strategic partners?’ These issues are of key concern to scholars of IB, as they seek to reconstruct what the ‘New Normal’ context means for MNEs and the GVCs on which they have long relied.

This paper explores the dynamic technological catch-up strategies of Chinese multinational enterprises (CMNEs) amidst escalating US-China trade tensions and de-globalization. It seeks to answer: (1) How do external shifts affect latecomers' technology catch-up in a changing global context? (2) How do CMNEs dynamically respond in a restructured international business (IB) landscape? Employing a time-varying difference-in-differences (DID) analysis with data from 625 Chinese telecommunication firms (2007-2020), the study examines external changes' impact on catch-up performance. It also delves into dynamic capabilities' role in competitive strategizing for enhanced catch-up. A framework is proposed to identify strategies that activate firms' dynamic capabilities, charting a successful catch-up course in China's mobile communications. The empirical findings underscore the importance of sensing strategies for technological and international catch-up, highlighting the influence of technological shifts, market demands, and FDI on EMNEs' strategies. The study showcases CMNEs' strategic agility in leveraging global changes for innovation and growth, securing a competitive edge in the international arena

The US-China dispute has multifaceted effects on international business, necessitating scholarly investigation through the geopolitical lens. We introduce the concept of "inter-US-China-ally (IUCA) diversification" to characterize the extent of multinational enterprises’ (MNE) business activities spread across US-ally and China-ally countries. Leveraging insights from corporate diplomacy and real options theory, this study examines the impact of IUCA diversification on the performance of Chinese MNEs. Our findings reveal a positive relationship between IUCA diversification and Chinese MNEs’ performance amid escalating tensions between the US and China. Additionally, we discover that the international experience diversity of the top management team (TMT) negatively moderates this positive relationship, while the TMT’s functional diversity does not show a significant moderating effect. These findings highlight the nuanced dynamics in a divided global economy and carry significant implications for both theoretical understanding and practical applications for MNE performance in a bifurcated world.

This study focuses on the strategic choices of firms in response to sanctions by looking into the impact of sanctions on the activities of foreign companies in the sanctioned country. This contributes to our understanding on the impact and relevance of sanctions in today’s business landscape. As a result of the Russo-Ukrainian war, multinational companies (MNCs) have been under great pressure from both governments and social activists to look at the continuity of their operations in Russia. The set of strategic choices related to investments in a foreign country is well known to international business (IB) and strategy scholars. But the rapid institutional change driven by war events and related waves of sanctions resulted in dramatized choices executives faced. Should firms withdraw their assets and leave the country? Or perhaps buy time observing how the conflict unfolds? Could they continue their operations or consider digging in their exposure to the Russian market benefiting from opportunities as their competitors scale back? The uniqueness of the scale of the war forced MNCs to respond to those and similar questions in a very short time. Through our study we aim to explain the drivers of the strategic decision to disinvest from Russia.

While previous research has focused on the effects of institutions on MNE behaviour, it has largely ignored the rhetorical role of actors shaping these institutions. This study investigates the impact of populist movements, which have gained significant traction in Europe over the past decade, on foreign direct investments. Populists, characterized by their anti-establishment orientation and opposition to liberal economics and globalization, can challenge and erode formal institutions through their rhetoric. This paper analyses the manifestos of populist parties to understand their ideas and sentiments, integrating these with the individual characteristics of party leaders. By exploring the rhetoric of populists, the study aims to provide a nuanced understanding of how populist movements influence foreign direct investments. The findings contribute to a deeper theoretical understanding of institutions, highlighting the importance of considering the actors behind them. The study also advances research on populism in international business, offering insights into the implications of populist rhetoric for MNEs and suggesting several avenues for future research.

While previous research has discussed the relationship between democracy and multinational enterprises, the impact of populism on corporate social responsibility (CSR) behavior remains to be further explored in the context of democratic decline. We posit that reshoring and localized production, seen by the Trump administration as key strategies for boosting domestic employment—particularly in low-skill (low-wage) positions—lead corporations, influenced by populist policies, to reduce their overseas investments. Additionally, we consider CSR as a focal behavior of corporations, arguing that to serve the objectives of a populist government and its political community, U.S. manufacturing multinationals must prioritize substantial and stable provision of low- to mid-skill jobs in the domestic market. Furthermore, in alignment with populist ideologies, U.S. manufacturing multinationals may have reduced or are compelled to reduce investments in CSR projects related to race, gender, immigration, refugees, and environmental issues. Our study examines the outward investment, CSR performance, and irresponsible behavior of U.S. manufacturing firms from 2010 to 2020, with results supporting our hypotheses. Our research further explores the interaction between politics and corporations within an international business context.

This study examines the dynamics of global exogenous shocks on cross-border Mergers and Acquisitions (CBM&As), focusing specifically on the nature and properties of exogenous shocks. In addition, we thoroughly investigate the impact of the institutional quality of the home country on that relationship. To support our rationale and empirically validate our hypotheses, we employed Vector Error-Correction Models (VECM) to assess the influence of different exogenous shocks on CBM&A, using a sample of 1622 multinational companies, encompassing 6848 cross-border M&A deals from 1997 to 2022. Our results demonstrate that exogenous shocks have varying natures, but their properties can be mitigated or amplified based on the institutional quality of the acquiror home country. We test different natures of exogenous shocks, distinguishing between war, global pandemic, and financial crisis as three different exogenous shocks. We capture their differences in terms of duration and depth. Our findings reveal that global pandemics have emerged as the most significant predictor of CBM&As fluctuation. Also, the direction of distinct exogenous shocks might be similar, even if they have distinct nature. We provide empirical insights for analyzing the nature and properties of exogenous shocks, profoundly exploring the moderating effect of the home country's institutional quality.