Transnational Corporations Review最新文献

{"title":"Digitalization's divergent impact on FDI inflows: A comparative analysis between advanced and developing countries","authors":"Van Bon Nguyen","doi":"10.1016/j.tncr.2025.200148","DOIUrl":"10.1016/j.tncr.2025.200148","url":null,"abstract":"<div><div>Digital technology in host countries serves as a significant comparative advantage in attracting FDI inflows. Does digitalization affect FDI inflows in different ways between advanced and developing countries? To unravel this question, we employ broadband subscriptions and Internet users as proxies for digitalization, examining their influence on FDI inflows across 37 advanced and 100 developing countries from 2002 through 2022. The two-step difference GMM Arellano-Bond and PMG estimators are applied to control endogeneity and serial autocorrelation. The findings present intriguing insights: First, digitalization and institutional quality emerge as magnets for FDI inflows in developing economies, while exerting deterrent effects in advanced countries. Second, market size increases FDI inflows in advanced economies, but decreases them in developing countries. Third, across advanced and developing countries, trade openness and infrastructure positively influence FDI inflows, whereas inflation is a hindrance. These revelations underscore essential policy implications for the governments of both advanced and developing countries. Policymakers may need to tailor strategies to harness the benefits of digitalization for FDI attraction, taking into account the distinct economic contexts and challenges faced by each group of countries.</div></div>","PeriodicalId":45011,"journal":{"name":"Transnational Corporations Review","volume":"17 3","pages":"Article 200148"},"PeriodicalIF":1.8,"publicationDate":"2025-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145105696","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":"The road to happiness: The effect of the belt and road initiative on residents' well-being in participating countries","authors":"Jiahang Song ,&nbsp;Lei Li","doi":"10.1016/j.tncr.2025.200144","DOIUrl":"10.1016/j.tncr.2025.200144","url":null,"abstract":"<div><div>This paper examines the impact of the Belt and Road Initiative(BRI) on residents' well-being using the difference-in-differences method based on Gallup World Poll(GWP) data from 2009 to 2018. The implementation of the BRI significantly enhances residents' well-being in participating countries, and this conclusion remains robust under a series of tests. Analysis of the mechanism indicates that advancements in economic and social development, improvements in governance quality, and enhancements in environmental sustainability lead to the increase of residents' well-being. The promotion effect is notably stronger in countries with greater regulatory quality and cultural proximity to China, and variations of the effect exist among different demographic groups. This paper provides insights into evaluating the developmental quality of the BRI.</div></div>","PeriodicalId":45011,"journal":{"name":"Transnational Corporations Review","volume":"17 3","pages":"Article 200144"},"PeriodicalIF":1.8,"publicationDate":"2025-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145105697","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":"Trade shocks and macroeconomic performance in non-UEMOA countries","authors":"Kordzo Sedegah,&nbsp;Nicholas M. Odhiambo,&nbsp;Simplice A. Asongu","doi":"10.1016/j.tncr.2025.200140","DOIUrl":"10.1016/j.tncr.2025.200140","url":null,"abstract":"<div><div>This present study examines how commodity terms of trade (CTOT) influence economic performance in the proposed West African Monetary Zone (WAMZ) or non-UEMOA countries using data from 2000 to 2021. To make the assessment, PVAR, Granger causality and impulse-response functions analyses are employed. The analyses are tailored such that economic performance is viewed in terms of unemployment, inflation, and real output. The following main findings are established. CTOT negatively affects inflation though the effect is not very significant. CTOT shocks positively and negatively affect real output and unemployment, respectively. Policy implications are discussed.</div></div>","PeriodicalId":45011,"journal":{"name":"Transnational Corporations Review","volume":"17 3","pages":"Article 200140"},"PeriodicalIF":1.8,"publicationDate":"2025-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144917788","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":"Digitalization, transnationalization, and transformation of the global economy: A theoretical explanation","authors":"Daniel Lorberg ,&nbsp;Holger Janusch","doi":"10.1016/j.tncr.2025.200146","DOIUrl":"10.1016/j.tncr.2025.200146","url":null,"abstract":"","PeriodicalId":45011,"journal":{"name":"Transnational Corporations Review","volume":"17 3","pages":"Article 200146"},"PeriodicalIF":1.8,"publicationDate":"2025-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145105699","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":"Innovation Governance: An attention-based view from Chinese MNCs","authors":"Mingyi Xie ,&nbsp;Shulin Wang ,&nbsp;Muhammad Kaleem Khan ,&nbsp;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 ,&nbsp;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 ,&nbsp;Oleksii Chugaiev ,&nbsp;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":"Has the digital transformation promoted enterprise innovation? Evidence from China","authors":"Chunyuan Zhang ,&nbsp;Guoda Gu ,&nbsp;Huzhou Zhu ,&nbsp;Lin Guo","doi":"10.1016/j.tncr.2025.200109","DOIUrl":"10.1016/j.tncr.2025.200109","url":null,"abstract":"<div><div>Based on data from Chinese A-share listed companies spanning 2003 to 2019, this paper empirically examines the impact and mechanism of the digital transformation on enterprise innovation. It is found that digital transformation has a significant positive effect on enterprise innovation. After a series of robustness and endogeneity checks, the conclusion of the study remains consistent. Heterogeneity analysis demonstrates a stronger promoting effect of digital transformation on the innovation of small-size enterprises, non-state-owned enterprises and long-duration enterprises. The results of mechanism test indicate that knowledge spillover effect and digital technology upgrading effect are the internal channels through which digital transformation promotes enterprise innovation. Further analysis reveals the existence of an industrial chain linkage of the enterprise digital transformation, indicating that the digital transformation of focus enterprises can spread along the industrial chain, thereby promoting innovation in both upstream and downstream enterprises.</div></div>","PeriodicalId":45011,"journal":{"name":"Transnational Corporations Review","volume":"17 2","pages":"Article 200109"},"PeriodicalIF":1.6,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143882834","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 ,&nbsp;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&amp;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&amp;D patent more than the non-FDI-R&amp;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}