Mingyi Xie , Shulin Wang , Muhammad Kaleem Khan , Yuxuan Du
{"title":"Innovation Governance: An attention-based view from Chinese MNCs","authors":"Mingyi Xie , Shulin Wang , Muhammad Kaleem Khan , Yuxuan Du","doi":"10.1016/j.tncr.2025.200128","DOIUrl":"10.1016/j.tncr.2025.200128","url":null,"abstract":"<div><div>Innovation has become crucial for Multinational Corporations (MNCs) to survive and thrive in today's digital era of disruptive technologies. According to the attention-based view, top management team (TMT) attention reflects organizational cognition and strategic preferences. This study investigates how TMT attention to innovation influences Chinese MNCs' innovation investment and examines the moderating role of managerial discretion. Using panel data from 9929 observations of Chinese A-share listed manufacturing MNCs from 2006 to 2022, we find that greater TMT attention to innovation-related issues leads to increased innovation investment. Furthermore, CEO duality strengthens this relationship, while firm age shows no significant moderating effect. Our findings provide valuable insights for policymakers and stakeholders seeking to promote organizational innovation in a rapidly evolving business environment.</div></div>","PeriodicalId":45011,"journal":{"name":"Transnational Corporations Review","volume":"17 2","pages":"Article 200128"},"PeriodicalIF":1.6,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144279507","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Towards better GVC participation in Africa: Does infrastructural development matter?","authors":"Joshua Adeyemi Afolabi , Olufemi Adebola Popoola","doi":"10.1016/j.tncr.2025.200124","DOIUrl":"10.1016/j.tncr.2025.200124","url":null,"abstract":"<div><div>Global Value Chain (GVCs) offer vast opportunities for industrialization, economic diversification, and structural economic transformation. However, despite various efforts to become notable actors in the GVC, many African countries remain positioned at the lower end of the GVC spectrum. Hence, this paper investigates the potential of infrastructure to catalyse GVC participation and elevate African countries to a level comparable to developed nations. Relevant data from 38 African countries spanning 2005–2021 are analysed using the Pooled Ordinary Least Square (POLS), and the System Generalised Method of Moments (SGMM) methods. The results provide overwhelming evidence of infrastructural development's crucial role in improving forward and backward GVC participation in Africa. Specifically, information and communication technology (ICT), electricity, and water infrastructure significantly promote forward and backward GVC participation. The results are robust to alternative analytical methods. African governments, therefore, need to pursue pro-infrastructural development policies and increase infrastructural spending to improve GVC participation.</div></div>","PeriodicalId":45011,"journal":{"name":"Transnational Corporations Review","volume":"17 2","pages":"Article 200124"},"PeriodicalIF":1.6,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144272026","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Modelling the effect of Chinese outward investments on its bilateral exports: Motivation for Belt and Road Initiative","authors":"Oleksandr Rogach , Oleksii Chugaiev , Oleksandr Shnyrkov","doi":"10.1016/j.tncr.2025.200130","DOIUrl":"10.1016/j.tncr.2025.200130","url":null,"abstract":"<div><div>The paper aims to estimate how outward investment activity of China affects its bilateral exports at the aggregate and sectoral level in the period of recovery from the pandemic crisis. Theoretical discussion about the channels of the effect is complemented with empirical analysis (correlation and regression analysis). China's exports and outward investments relatively its partner's GNI are used as the main variables together with several control variables. Nonparametric correlation, alternative definitions of foreign direct investments, exclusion of outliers and weighting cases were used for robustness check. Sector-specific models were created for the main exported products. There is a negative non-linear dependence of Chinese exports on distance to markets, which provides a confirmation of proximity-concentration trade off theory. The diminishing negative effect of distance suggests existence of fixed costs of exports regardless the distance, which can be potentially decreased by investment in logistical facilities or trade liberalization. Large China's outward investment projects lead to a lasting positive effect on China's bilateral exports: each 1 % of partner's GNI accumulated investments by China in its trade partner increases bilateral exports of China there by 0.05–0.2 % of partner's GNI. But the regularity is irrelevant for exports of fuels, electronic and electrical appliances. This provides a partial support for Kojima's hypothesis and Vernon's product life cycle model (in particular rising labor costs lead to reallocation of some production abroad resulting in structural changes in exports). The general positive effect of free trade areas (additional exports equivalent to 2–3 % of partner's GNI) and the negative effect of a trade partner's economy size are not robust across time. Multilateral trade balances in partner countries do not affect significantly exports of China. This evidences in favor of high competitiveness of Chinese exports even in protected foreign markets and in strong economies.</div></div>","PeriodicalId":45011,"journal":{"name":"Transnational Corporations Review","volume":"17 2","pages":"Article 200130"},"PeriodicalIF":1.6,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144261664","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Tax us, if you can: a game theoretic approach to the European Union's political impasse on a new corporate tax system","authors":"Joana Andrade Vicente","doi":"10.1016/j.tncr.2025.200127","DOIUrl":"10.1016/j.tncr.2025.200127","url":null,"abstract":"<div><div>In this paper we theoretically analyse the European Union's ongoing political impasse regarding the choice of a single method to allocate multinational enterprises' profits across countries and we find that this strategic situation resembles a coordination game with distributional consequences. The two Nash equilibria involve no efficiency trade-off, but the conflictual distribution of welfare gains and the presence of heterogeneous preferences have been preventing the implementation of a long-term comprehensive tax policy reform. A unitary taxation approach with formulary apportionment in the European Union is better suited to tackle artificial profit shifting via transfer pricing and would mean an evolutionary change without disrupting the current international tax policy environment. It would restore faith in fairness of the European tax system, while also allowing for further global coordinated actions to tackle the gradual decline and inadequacy of the current international transfer pricing standard-based regulatory model (based in legally non-binding standards and guidelines).</div></div>","PeriodicalId":45011,"journal":{"name":"Transnational Corporations Review","volume":"17 2","pages":"Article 200127"},"PeriodicalIF":1.6,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144298953","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"A firm-level analysis of the impact of foreign direct investment in research and development on the innovation output of Indian firms","authors":"Ruchita Sharma , Ruchi Sharma","doi":"10.1016/j.tncr.2025.200126","DOIUrl":"10.1016/j.tncr.2025.200126","url":null,"abstract":"<div><div>Using the firm-level data, this paper investigates the impact of Foreign Direct Investment in Research and Development (FDI-R&D) on firms' innovation output in the Indian context during 2010–2020. We hypothesize that foreign investment brings intangible knowledge about the recent technological advancements, international scientific practices, and working culture of global laboratories to domestic firms and thus improves the innovation performance of such firms. The major challenge in conducting the empirical studies is the selection problem as productive efficient host country firms are likely to attract foreign investments. Hence, we employ Propensity Score Matching (PSM) and Difference in Differences (DID) to capture the influence of foreign investment on innovation output namely patents. After controlling the selection problem, we find that firms with FDI-R&D patent more than the non-FDI-R&D firms.</div></div>","PeriodicalId":45011,"journal":{"name":"Transnational Corporations Review","volume":"17 2","pages":"Article 200126"},"PeriodicalIF":1.6,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144364914","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Locational advantages and foreign direct investment in MENA: A comprehensive analysis of institutional and economic factors","authors":"Almuqrin Fawaz","doi":"10.1016/j.tncr.2025.200131","DOIUrl":"10.1016/j.tncr.2025.200131","url":null,"abstract":"<div><div>This study investigates factors shaping FDI inflows in the MENA region from 1996 to 2021, employing static and dynamic panel data models. A composite institutional quality index, created via Principal Component Analysis, reveals a positive long-term effect on FDI. However, voice and accountability exhibit an unexpected negative relationship with FDI, highlighting potential governance concerns among investors. Other findings include the beneficial impact of domestic market size, the nuanced effects of trade openness and financial development over time, and the adverse influence of resource dependence. By incorporating the Feasible Generalized Least Squares (FGLS) and Panel ARDL approaches, this study provides nuanced insights into FDI determinants and offers actionable policy recommendations for fostering an investor-friendly environment in resource-dependent economies.</div></div>","PeriodicalId":45011,"journal":{"name":"Transnational Corporations Review","volume":"17 2","pages":"Article 200131"},"PeriodicalIF":1.6,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144330502","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Joseph Owusu Amoah , Imhotep Paul Alagidede , Yakubu Awudu Sare
{"title":"Dynamic Effect of Foreign Direct Investment on Export Growth in Ghana: Does Financial Development Matter?","authors":"Joseph Owusu Amoah , Imhotep Paul Alagidede , Yakubu Awudu Sare","doi":"10.1016/j.tncr.2025.200129","DOIUrl":"10.1016/j.tncr.2025.200129","url":null,"abstract":"<div><div>This study explores the influence of foreign direct investment (FDI) on export growth in Ghana. We use the Zivot and Andrews unit root test on Ghanaian time-series data from 1990 to 2021 to examine the order of integration. In addition, we utilise the Johansen and Gregory and Hansen cointegration approaches to confirm the existence of a long-period bond among the time series. The results show that FDI negatively affects Ghanaian exports, while financial development positively affects Ghanaian exports. In addition, our results show that industrialisation improves exports, while exchange rate and labour cost have negative impacts on exports. Generally, a certain level of financial stability is needed for financial development and higher exports. However, our results show a U-shaped correlation between increased FDI inflows and exports, suggesting a threshold impact. Causality test results show that exports cause industrialisation and FDI in a single flow, while labour specifically causes exports. This study recommends the realignment of access to credit as well as the efficient allotment of export budgets.</div></div>","PeriodicalId":45011,"journal":{"name":"Transnational Corporations Review","volume":"17 2","pages":"Article 200129"},"PeriodicalIF":1.6,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144261665","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Does universalization of healthcare coverage promote inward FDI in health sectors? an empirical investigation using panel data of 59 countries","authors":"Hicham Ouakil , Hana Sarsar , Jihad Ait Soussane","doi":"10.1016/j.tncr.2025.200125","DOIUrl":"10.1016/j.tncr.2025.200125","url":null,"abstract":"<div><div>The paper investigates the effect of universal healthcare coverage (UHC) on FDI net inflows into health sectors across 59 countries from 2000 to 2021, using multiple specifications and control variables. The findings demonstrate a consistent and statistically significant impact of UHC and FDI inflows in health sectors where the elasticity estimation of the increase in FDI net inflows ranges from 0.0003 % to 0.0004 % for each 1-point increase in UHC score. These results indicate the economic attractiveness of countries with comprehensive healthcare systems. The results suggest that the universalization of healthcare coverage is a determinant of FDI in health sectors. Therefore, policymakers should consider generalizing healthcare coverage services to attract FDI in health sectors, thereby stimulating economic growth and improving healthcare outcomes.</div></div>","PeriodicalId":45011,"journal":{"name":"Transnational Corporations Review","volume":"17 2","pages":"Article 200125"},"PeriodicalIF":1.6,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144279506","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Maosheng Ye , Mpabe Bodjongo , Jie Cai , Liao Heran
{"title":"Climate change, the internet and the cotton yield gap between African countries and the rest of the world","authors":"Maosheng Ye , Mpabe Bodjongo , Jie Cai , Liao Heran","doi":"10.1016/j.tncr.2025.200112","DOIUrl":"10.1016/j.tncr.2025.200112","url":null,"abstract":"<div><div>This study investigates the effects of climate change and internet access on cotton yield disparities between African nations and other cotton-producing countries from 1995 to 2019. Utilizing econometric analysis based on a decomposition model, the findings reveal that African countries underperform relative to their counterparts in cotton yields. The study suggests that mitigating temperature variability, expanding internet access, and enhancing education, financial liberalization, and labor market flexibility, have the potential to reduce this yield gap. However, rising temperatures exacerbate the disparity and hinder progress in closing the yield gap.</div></div>","PeriodicalId":45011,"journal":{"name":"Transnational Corporations Review","volume":"17 1","pages":"Article 200112"},"PeriodicalIF":1.6,"publicationDate":"2025-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143644315","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Does managerial myopia affect firms’ green merger and acquisition? Evidence from Chinese firms in high-polluting industries","authors":"Xiaohua Chen, Hui Liu, Wen Du","doi":"10.1016/j.tncr.2025.200115","DOIUrl":"10.1016/j.tncr.2025.200115","url":null,"abstract":"<div><div>Utilizing a dataset comprising 1536 merger and acquisition transactions involving Chinese A-share listed firms operating in high-polluting industries during the period of 2001–2020, this paper aims to investigate managerial myopic impact on green merger and acquisition. The primary findings indicate that managerial myopia significantly impedes the occurrence of green merger and acquisition activities within firms operating in high-polluting industries. This adverse effect is consistently observed across various models. Mechanism tests reveal that myopic managers exert an adverse influence on firms' green merger and acquisition by reducing the level of analyst attention and the environmental, social, and governance ratings among these companies. Furthermore, the results of the moderating tests demonstrate that stronger internal supervision, a higher firm value, and a male chief executive officer can substantially alleviate managerial myopic negative impact on green merger and acquisition. Additionally, heterogeneity checks propose that managerial myopic detrimental impact on firms’ green merger and acquisition is particularly pronounced in companies characterized by weak governance structures, lower tax burdens, and those operating in the decline stage. The insights from this research carry significant policy implications for industries with high levels of pollution, particularly in emerging economies.</div></div>","PeriodicalId":45011,"journal":{"name":"Transnational Corporations Review","volume":"17 1","pages":"Article 200115"},"PeriodicalIF":1.6,"publicationDate":"2025-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143681727","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}