Pace of pro-market reforms, performance feedback, and strategic renewal actions of emerging economy firms

IF 8.9 1区管理学 Q1 BUSINESS

Journal of World Business Pub Date : 2025-03-24 DOI:10.1016/j.jwb.2025.101642

Manish Popli , Mehul Raithatha

引用次数: 0

Abstract

How do firms in emerging economies react to competitive contexts shaped by the temporal advancement of pro-market reforms? With multi-country analysis, this research shows that as the pace of reforms increases in emerging economies, the incumbent firms engage in strategic renewal actions of internal development and external sourcing through acquisitions. Furthermore, this study integrates the problemistic search perspective and finds that facing a faster pace of pro-market reforms, firms with performance above the aspiration level prioritize augmentation in internal capabilities. In contrast, firms performing below the aspiration level prioritize either domestic or cross-border mergers and acquisitions. We test our hypotheses using 55,068 firm-year observations from 37 emerging economies from 1998 to 2019. This study contributes by providing a better understanding of 'when', 'how,' and 'why' firms from emerging economies take specific strategic renewal actions as their home markets evolve.

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来源期刊

Journal of World Business BUSINESS-

CiteScore

16.50

自引率

11.20%

发文量

期刊介绍： The Journal of World Business holds a distinguished position as a leading publication within the realm of International Business. Rooted in a legacy dating back to 1965, when it was established as the Columbia Journal of World Business, JWB is committed to disseminating cutting-edge research that reflects significant advancements in the field. The journal actively seeks submissions that propel new theoretical frameworks and innovative perspectives on International Business phenomena. Aligned with its domain statement, submissions are expected to possess a clear multinational, cross-border, or international comparative focus, while remaining pertinent to the study of management and organizations. JWB particularly encourages submissions that challenge established theories or assumptions, presenting pioneering or counterintuitive findings. With an inclusive approach, the journal welcomes contributions from diverse conceptual and theoretical traditions, encompassing allied social sciences and behavioral sciences. Submissions should either develop new theories or rigorously test existing ones, employing a variety of qualitative, quantitative, or other methodological approaches. While JWB primarily caters to scholars and researchers, it values contributions that explore implications for Multinational Enterprises and their management, as well as ramifications for public policy and the broader societal role of business.