Murat Anil Mercan, Halit Keskin, Ozan Kalaycıoğlu, Doğan Başar
{"title":"Stimuli Behind SMEs' Export Decisions: Evidence From an Emerging Country During the COVID‐19 Pandemic","authors":"Murat Anil Mercan, Halit Keskin, Ozan Kalaycıoğlu, Doğan Başar","doi":"10.1002/tie.22410","DOIUrl":"https://doi.org/10.1002/tie.22410","url":null,"abstract":"Executive SummaryIn this study, we focus on small and medium enterprise management's motivations for exporting and the effects of the coronavirus disease‐19 (COVID‐19) pandemic on exports. Turkish firms registered as exporter companies in official export unions as of March 2022 were surveyed. A total of 17 questions were included in the survey: seven questions on proactive reasons, six questions on reactive reasons, and four questions regarding the pandemic. One‐way ANOVA was used for analyses. The results suggest that tax benefits are among the most important determinants of exporting for larger companies. Another important reason, according to managers, is that firms can achieve economies of scale through exporting. Additionally, our findings suggest that even if firms seek to take advantage of export opportunities created by the pandemic, exporting does not happen as expected. Our study makes several important contributions to the literature because it is the first to measure the effects of COVID‐19 on exporting from the perspective of managers. Additionally, we investigate the management's motivations for exporting using microdata from Türkiye.Managerial Implications of the StudyThis study shows the importance of the determinants of exports from a managerial perspective. Therefore, our study will be of great help to managers when they decide to start exporting. It also provides them with an opportunity to understand what other managers consider important in exports.Originality/ValueThis study provides information about the effects of the COVID‐19 pandemic on exporting from managers' perspectives and investigates management's motivations for exporting using microdata from Türkiye, which has not been previously studied.","PeriodicalId":47515,"journal":{"name":"Thunderbird International Business Review","volume":"10 1","pages":""},"PeriodicalIF":2.2,"publicationDate":"2024-09-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142222950","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":"Subnational Institutional Differences and FDI Spillovers Behind the R&D–Performance Relationship in Russia","authors":"Sergey Lebedev, Mike W. Peng","doi":"10.1002/tie.22413","DOIUrl":"https://doi.org/10.1002/tie.22413","url":null,"abstract":"This study explores how subnational institutional differences in a large emerging economy—Russia—influence the relationship between research and development (R&D), foreign direct investment (FDI) spillovers, and firm performance. We find that the relationship between R&D and firm performance is positively moderated by subnational institutional development. Furthermore, we find that FDI will more positively moderate the relationship between R&D and firm performance if subnational institutional development is also higher, thus showing that subnational institutional development may foster the positive spillover effect of FDI on local firms.","PeriodicalId":47515,"journal":{"name":"Thunderbird International Business Review","volume":"40 1","pages":""},"PeriodicalIF":2.2,"publicationDate":"2024-09-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142222967","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":"Trapped in Grandiosity? Narcissistic CEOs and Risk‐Taking in MENA Banks: The Moderating Effect of CEO Attributes","authors":"Imen Khanchel, Naima Lassoued, Sondes Ferchichi","doi":"10.1002/tie.22406","DOIUrl":"https://doi.org/10.1002/tie.22406","url":null,"abstract":"Utilizing a panel data set consisting of 144 Middle East and North African (MENA) banks covering the period 2014–2021, this study (a) explores the correlation between CEO narcissism and insolvency risk (risk‐taking) and (b) investigates whether certain CEO attributes can moderate this association. We identify a significant positive relationship between CEO narcissism and insolvency risk, shedding light on the dark side of CEO narcissism as elucidated within the upper echelons theory. Furthermore, our findings indicate that the presence of returnee CEOs or politically connected CEOs strengthens the aforementioned relationship by increasing the likelihood of narcissistic CEOs contributing to amplify insolvency risk.","PeriodicalId":47515,"journal":{"name":"Thunderbird International Business Review","volume":"11 1","pages":""},"PeriodicalIF":2.2,"publicationDate":"2024-08-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142222965","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":"Making Switches: Key Strategic Decisions When Moving From a Local, Independent Operator to a Wholly Owned Subsidiary","authors":"Bent Petersen, Gabriel R. G. Benito","doi":"10.1002/tie.22405","DOIUrl":"10.1002/tie.22405","url":null,"abstract":"<p>Entering a foreign market entails making the important mode decision of how to operate there. But the initial mode choice is not always forever and may be reassessed as business circumstances change. The mode shifting process<i>—</i>that is, how switches from one mode to another unfold—has scarcely been described, so we lack a systematic outline of this process. In this article, we take a first step toward such an outline. Adopting the established distinction between the formation and implementation phases of strategy making and execution, we describe the critical strategic decisions managers need to make about how to carry out a mode switch. Regarding the formation phases, we discuss the identification and consideration of entry mode switches as viable options, and whether companies plan or not for such shifts. Regarding the implementation phases, we differentiate between the integrating and collaborating decisions that define the type of switches made by companies.</p>","PeriodicalId":47515,"journal":{"name":"Thunderbird International Business Review","volume":"66 6","pages":"643-653"},"PeriodicalIF":2.2,"publicationDate":"2024-08-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/tie.22405","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142222966","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":"The Enablers and Interdependencies of Blockchain Technology in Supply Chain Management: Evidence From Luxury Products","authors":"Majdi Anwar Quttainah, Priya Singh","doi":"10.1002/tie.22408","DOIUrl":"10.1002/tie.22408","url":null,"abstract":"<div>\u0000 \u0000 <p>Blockchain is a technology that combines a set of properties to guarantee network security, transparency, and visibility, including a decentralized structure, distributed notes and storage mechanism, consensus algorithm, intelligent contracts, and asymmetric encryption. Supply chain management activities, including supply chain management provenance, business process reengineering, and security enhancement, have enormous potential to be transformed by blockchain. This research uses the integrated interpretive structural modeling–cross-impact matrix multiplication applied to classification (ISM-MICMAC) technique to ascertain the hierarchical relationships and to comprehend the severity of interrelationships among various components in tackling our research questions. In MICMAC analysis, the enablers were classified into four categories based on their dependence and driving powers. The combined ISM-MICMAC methodology employed for this study relies on experts’ individual evaluations and subjective assessments. Therefore, even with extreme caution, it is impossible to guarantee that the results are entirely devoid of personal biases. To further validate the linkages discovered in this study, we suggest employing more multiple-criteria decision-making (MCDM) methodologies and comparing the results with those of our research. Another method for confirming the results of the current study is to use an empirical research design based on survey methods.</p>\u0000 </div>","PeriodicalId":47515,"journal":{"name":"Thunderbird International Business Review","volume":"66 6","pages":"655-666"},"PeriodicalIF":2.2,"publicationDate":"2024-08-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142222951","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":"Risks, Regulations, and Impacts of FinTech Adoption on Commercial Banks in the United States and Canada: A Comparative Analysis","authors":"Lamia Kalai, Mohamed Toukabri","doi":"10.1002/tie.22404","DOIUrl":"10.1002/tie.22404","url":null,"abstract":"<div>\u0000 \u0000 <p>The growth of FinTech has increasingly attracted the attention of financial industry players. The speed and complexity with which new financial technologies have spread around the world have created regulatory challenges for the United States and Canadian authorities. Unlike the United States, where there is regulatory fragmentation and a supervisory instrument with regulatory relief, Canada has a more integrated regulatory approach managed by regulatory sandbox principles. The aim of this article is to study and compare the impact of FinTech adoption on commercial banks over the 2018–2023 period in the United States and Canadian FinTech ecosystems. The results essentially show that FinTech has a positive impact on commercial banks' performance and financial growth, and a negative impact on liquidity and financial risk. Our results present several contributions and mainly show that: (1) In the presence of multiple entry channels for FinTech startups, the impact of FinTech on financial performance is higher in the United States than in Canada. (2) Because of its regulatory approach, Canada lags behind the United States in the adoption rate of financial technologies. (3) Balance of power in the financial sector induces commercial banks not to consider FinTech startups as threats but rather as partners that offer opportunities for expertise and reduced regulatory costs. Finally, FinTech can be disruptive and presents many challenges for regulators given the complexity and speed of innovation it promotes.</p>\u0000 </div>","PeriodicalId":47515,"journal":{"name":"Thunderbird International Business Review","volume":"66 6","pages":"609-641"},"PeriodicalIF":2.2,"publicationDate":"2024-08-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142222968","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":"Emerging Market Vaccine Manufacturers: Untapped Potential for Improving Health and Social Outcomes Globally","authors":"Benoit Hayman, Jeffrey S. Petty","doi":"10.1002/tie.22409","DOIUrl":"https://doi.org/10.1002/tie.22409","url":null,"abstract":"<p>The suboptimal level of vaccine research and development globally contributes to millions of people losing their lives to vaccine-preventable diseases each year, the vast majority of whom live in developing countries. Vaccine manufacturers based in developing countries are increasingly participating in vaccine research and development to improve the availability of these life-saving vaccine products. To understand the extent to which these emerging market vaccine manufacturers can contribute to global vaccine research and development, and thus improve health and societal outcomes, we examined the capabilities, priorities, and strategies of these organizations. We identified that emerging market manufacturers often engage in partnerships and solicit external support to alleviate the technical and financial hurdles associated with the complexity and cost of vaccine development. Focusing on unmet medical needs facilitates emerging market manufacturers' access to partners and external support and is critical in establishing a reputation in the global vaccine research and development ecosystem.</p>","PeriodicalId":47515,"journal":{"name":"Thunderbird International Business Review","volume":"66 6","pages":"595-608"},"PeriodicalIF":2.2,"publicationDate":"2024-08-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/tie.22409","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"142404671","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":"A Typology on Business Model Integration","authors":"Christina Öberg","doi":"10.1002/tie.22407","DOIUrl":"10.1002/tie.22407","url":null,"abstract":"<p>Currently, we are witnessing firms engaging in acquisitions to explore new business models. However, despite operating within similar industry sectors, integrating these business models can be challenging. Beyond the mere integration of operational aspects, this paper argues that business model integration should encompass two crucial dimensions: the integration of market architectural strategies and the assimilation of mindsets that drive market operations. The paper constructs a typology for business model integration, grounded in the integration of market architectural strategies, and mindsets and illustrates the types through international acquisition examples. The paper contributes to existing research by exploring integration within the context of business model acquisitions. The division into market architectural strategies and mindset advances past understanding of business models. The conceptualization of “value-creation culture” extends the boundaries of past acquisition research and underscores the significance of mindsets associated with new business models.</p>","PeriodicalId":47515,"journal":{"name":"Thunderbird International Business Review","volume":"66 6","pages":"583-594"},"PeriodicalIF":2.2,"publicationDate":"2024-08-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/tie.22407","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141942918","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}
Kurnia Fajar Afgani, Marziana Madah Marzuki, Wan Zurina Nik Abdul Majid, Siti Dalina Tumiran Kamal Nasser, Muhammad Syukur, Sudarso Kaderi Wiryono, Raden Aswin Rahadi, Alfred Boediman, Qaisar Ali
{"title":"Risk Management Practices and the Performance of Indonesian and Malaysian Islamic Banks: Does Digitalization Mediate This Nexus?","authors":"Kurnia Fajar Afgani, Marziana Madah Marzuki, Wan Zurina Nik Abdul Majid, Siti Dalina Tumiran Kamal Nasser, Muhammad Syukur, Sudarso Kaderi Wiryono, Raden Aswin Rahadi, Alfred Boediman, Qaisar Ali","doi":"10.1002/tie.22402","DOIUrl":"10.1002/tie.22402","url":null,"abstract":"<div>\u0000 \u0000 <p>Despite being exceptionally regulated financial institutions, risk management practices (RMPs) of Islamic banking (IBs) have always remained under the limelight due to their impact on financial performance (FP) and the influence of digitalization (DT). This study aims to investigate the impact of RMPs on FP through the mediating effect of DT. To analyze the linkage between these constructs, we created an index for RMPs, five unique proxies (mobile [MB_DEA], big data [BD_DEA], Internet of Things [IoT], cloud computing [CC_DEA], and social media [SM_DEA]) of DT, and Tobin's <i>Q</i> as a proxy of FP and operationalized the theory of contingency. The data between 2009 and 2020 was collected from Indonesian and Malaysian IBs and was analyzed using the two-step generalized method of moments (GMMs) technique. The empirical findings represent that RMPs and DT have a significant positive effect on FP. Simultaneously, RMPs have a significant positive effect on two proxies of DT (MB_DEA and SM_DEA), and an insignificant positive effect on the remaining three proxies of DT (BD_DEA, IoT_DEA, and CC_DEA). Simultaneously, DT as a mediator plays a significant role between RMPs and FP. This study contributes to systematizing the RMPs of IBs by integrating digitalization which eventually will increase the financial portfolios of IBs.</p>\u0000 </div>","PeriodicalId":47515,"journal":{"name":"Thunderbird International Business Review","volume":"66 6","pages":"567-581"},"PeriodicalIF":2.2,"publicationDate":"2024-07-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141771753","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":"IFRS Adoption and Performance of Stock Markets: A Comparative Analysis of Frontier Stock Markets in Sub-Saharan Africa","authors":"Japhet Osazefua Imhanzenobe","doi":"10.1002/tie.22400","DOIUrl":"10.1002/tie.22400","url":null,"abstract":"<div>\u0000 \u0000 <p>The International Financial Reporting Standards (IFRS) is a set of global accounting standards that tries to provide truer and fairer accounting figures by recommending more realistic measurement and recognition criteria, increasing the disclosure of relevant information, and increasing the comparability of financial statements across borders. Most of the literature on IFRS adoption addresses its impact on the value relevance of accounting figures but ignores the wider picture in terms of impact on stock market performance. The few studies that address IFRS adoption and stock market performance focus on advanced economies and lack proper theoretical underpinning. This study addresses the impact of IFRS adoption on stock market performance in Sub-Saharan Africa. The study applied the autoregressive distributed lag model to test the research hypotheses. The Johannesburg, Nigerian, and Nairobi stock exchanges were selected as the sample markets because they constitute the major frontier markets for foreign investors wishing to penetrate the Sub-Saharan African market. The sample period was from 1990 to 2020. The results of the study showed that IFRS adoption had a positive and significant impact on market efficiency and size for all the selected countries. IFRS adoption had a positive and significant impact on market liquidity in Kenya only. The study recommends that IFRS adopters should implement stock market policies that encourage the participation of foreign investors following the increase in financial statements comparability brought about by IFRS adoption.</p>\u0000 </div>","PeriodicalId":47515,"journal":{"name":"Thunderbird International Business Review","volume":"66 6","pages":"549-565"},"PeriodicalIF":2.2,"publicationDate":"2024-07-18","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"141741044","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}