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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新兴经济体企业的市场化改革步伐、绩效反馈和战略更新行动

新兴经济体的企业如何应对由亲市场改革的暂时推进所形成的竞争环境？通过对多个国家的分析，本研究表明，随着新兴经济体改革步伐的加快，现有企业参与了内部发展和通过收购进行外部采购的战略更新行动。此外，本研究整合了问题搜索视角，发现面对更快的市场化改革步伐，绩效高于期望水平的企业优先考虑内部能力的增强。相比之下，业绩低于预期水平的公司优先考虑国内或跨境并购。我们使用来自37个新兴经济体1998年至2019年的55068个公司年观察结果来检验我们的假设。这项研究有助于更好地理解新兴经济体企业在其本土市场发展的过程中“何时”、“如何”以及“为什么”采取具体的战略更新行动。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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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.