Thunderbird International Business Review最新文献

Leveraging Dynamic Capabilities to Develop Technological and Non-Technological Innovations to Respond to the COVID-19 Crisis: A Case Study of Emerging Market High-Tech Firms 利用动态能力开发技术和非技术创新以应对COVID-19危机：新兴市场高科技企业的案例研究

IF 3.2

Thunderbird International Business Review Pub Date : 2026-04-05 Epub Date: 2025-09-14 DOI: 10.1002/tie.70037

Sin-Pei Ng

{"title":"Leveraging Dynamic Capabilities to Develop Technological and Non-Technological Innovations to Respond to the COVID-19 Crisis: A Case Study of Emerging Market High-Tech Firms","authors":"Sin-Pei Ng","doi":"10.1002/tie.70037","DOIUrl":"10.1002/tie.70037","url":null,"abstract":"<div>\u0000 \u0000 <p>Although leveraging dynamic capabilities (DCs) to develop technological and non-technological innovations helps firms to become agile in renewing resources and remain resilient in the novel environment of a crisis, little is known about how emerging market high-tech firms (EMHTFs) leverage DCs to develop such innovations in response to the COVID-19 crisis. This study addresses this research gap using multiple case studies of Malaysian EMHTFs. It finds that EMHTFs reconfigure resources to create management innovations by leveraging technological resources to develop new technically oriented strategies, by adjusting resources to introduce new supply chain practices, and by rearranging resources to introduce new work arrangements in uncertain and restricted environments. To seize opportunities, EMHTFs leverage external resources to introduce new ways of organizing external relations (management innovations) and leverage core competencies to introduce context-responsive new products. To improve operational processes via process innovations, EMHTFs learn internally and externally to develop technological measures.</p>\u0000 </div>","PeriodicalId":47515,"journal":{"name":"Thunderbird International Business Review","volume":"68 3","pages":"275-288"},"PeriodicalIF":3.2,"publicationDate":"2026-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147668292","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}

引用次数: 0

Cross-Border Acquisitions by African Firms: The Effect of Corporate Governance on Ownership Participation 非洲企业跨国收购：公司治理对所有权参与的影响

IF 3.2

Thunderbird International Business Review Pub Date : 2026-04-05 Epub Date: 2025-09-16 DOI: 10.1002/tie.70041

Dominik Anderhofstadt, Nicolene Wesson, Suzette Viviers

{"title":"Cross-Border Acquisitions by African Firms: The Effect of Corporate Governance on Ownership Participation","authors":"Dominik Anderhofstadt, Nicolene Wesson, Suzette Viviers","doi":"10.1002/tie.70041","DOIUrl":"10.1002/tie.70041","url":null,"abstract":"<div>\u0000 \u0000 \u0000 <section>\u0000 \u0000 <h3> Executive Summary</h3>\u0000 \u0000 <p>Strategic decisions related to ownership participation in cross-border acquisitions (CBAs) are among the most fundamental choices for African firms to address the unique internationalization challenges related to their home country context. We explore the corporate governance factors influencing the equity ownership stake pursued in 261 CBAs by listed firms in five African countries between 2010 and 2022. The results indicate a potential agency problem related to executive remuneration. The monitoring role of domestic institutional investors and their interaction with the institutional environment in the home and host countries is further emphasized.</p>\u0000 </section>\u0000 \u0000 <section>\u0000 \u0000 <h3> Managerial Implications of the Study</h3>\u0000 \u0000 <p>Practitioners of African firms need to consider the combined firm-level corporate governance and institutional distance implications of CBAs when evaluating international expansion strategies.</p>\u0000 </section>\u0000 \u0000 <section>\u0000 \u0000 <h3> Originality/Value</h3>\u0000 \u0000 <p>Our study provides a novel agency perspective on ownership decisions in CBAs by African firms and thereby complements existing research, which predominantly focused on institutional theory.</p>\u0000 </section>\u0000 </div>","PeriodicalId":47515,"journal":{"name":"Thunderbird International Business Review","volume":"68 3","pages":"305-331"},"PeriodicalIF":3.2,"publicationDate":"2026-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/tie.70041","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147668420","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}

引用次数: 0

Financial Supervision for the Green Transition: Comparative Insights From the EU, Hungary, and Singapore 绿色转型的金融监管：来自欧盟、匈牙利和新加坡的比较见解

IF 3.2

Thunderbird International Business Review Pub Date : 2026-04-05 Epub Date: 2025-09-18 DOI: 10.1002/tie.70039

Gábor Hulkó, János Kálmán, András Lapsánszky

{"title":"Financial Supervision for the Green Transition: Comparative Insights From the EU, Hungary, and Singapore","authors":"Gábor Hulkó, János Kálmán, András Lapsánszky","doi":"10.1002/tie.70039","DOIUrl":"10.1002/tie.70039","url":null,"abstract":"<div>\u0000 \u0000 <p>This paper examines how financial supervisory authorities integrate Environmental, Social, and Governance (ESG) objectives into their regulatory mandates amid the accelerating green transition. It aims to understand how institutional variation shapes supervisory strategies for sustainable finance. The study employs a qualitative, comparative case study design across three jurisdictions: the European Union, Hungary, and Singapore. Drawing on regulatory theory and document analysis, this study identifies the key institutional logics, instruments, and governance mechanisms through which ESG considerations are embedded in financial supervision. The analysis reveals three supervisory models: the EU's rule-based legal harmonization through taxonomy and disclosure mandates, Hungary's responsive approach led by the central bank using soft tools and innovation, and Singapore's principle-based framework emphasizing strategic guidance and market collaboration. These pluralistic pathways highlight that ESG integration is shaped by legal mandates, legitimacy concerns, and adaptive governance. This study provides insights to policymakers and supervisors seeking to align financial oversight with sustainability objectives. This emphasizes the importance of institutional flexibility, regulatory legitimacy, and hybrid governance in designing effective ESG supervision frameworks. This study contributes to the literature on sustainable finance and regulatory governance by offering a comparative perspective on how financial supervision evolves in response to ESG risks. It advances a novel typology of supervisory models that can inform future regulatory design and policy debates.</p>\u0000 </div>","PeriodicalId":47515,"journal":{"name":"Thunderbird International Business Review","volume":"68 3","pages":"357-366"},"PeriodicalIF":3.2,"publicationDate":"2026-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147668668","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}

引用次数: 0

The Impact of Recognizing Morocco's Sovereignty Over Western Sahara on Bilateral Foreign Direct Investment: An Empirical Analysis Using Panel Data From 2007 to 2022 承认摩洛哥对西撒哈拉主权对双边外国直接投资的影响：基于2007 - 2022年面板数据的实证分析

IF 3.2

Thunderbird International Business Review Pub Date : 2026-04-05 Epub Date: 2025-09-16 DOI: 10.1002/tie.70043

Jihad Ait Soussane, Aomar Ibourk

引用次数: 0

Unveiling the Dynamics of Green Innovation on ESG Performance: The Role of Financial Distress and the Impact of the Paris Agreement 揭示绿色创新对ESG绩效的影响：财务困境的作用和《巴黎协定》的影响

IF 3.2

Thunderbird International Business Review Pub Date : 2026-04-05 Epub Date: 2025-09-21 DOI: 10.1002/tie.70042

Ashutosh Yadav, Bright Akwasi Gyamfi, Divine Q. Agozie, Simplice A. Asongu, Deepak Kumar Behera

{"title":"Unveiling the Dynamics of Green Innovation on ESG Performance: The Role of Financial Distress and the Impact of the Paris Agreement","authors":"Ashutosh Yadav, Bright Akwasi Gyamfi, Divine Q. Agozie, Simplice A. Asongu, Deepak Kumar Behera","doi":"10.1002/tie.70042","DOIUrl":"10.1002/tie.70042","url":null,"abstract":"<p>The field of Environmental Social Governance (ESG) investment has witnessed significant growth in recent decades, driven by the widespread adoption of “carbon neutral” efforts by most nations. Industry would prioritize ESG in a global context characterized by significant uncertainty. Companies derive advantages from the dissemination of ESG data by enhancing their brand reputation, hence attracting investment, reducing borrowing expenses, and augmenting their market value. The findings, especially from the Quantile Regression and Generalized Additive Model studies, provide interesting insights into the interactions of these variables across various industries and countries across time. We implemented a rigorous econometrics methodology that specifically targeted the most prominent corporations in terms of market capitalization in both the Chinese and European markets. Using the Thomson Reuters Eikon database, this study collected data on the top 496 firms from 2012 to 2022. From the analysis, there was a significant positive impact of GRIN on ESG scores across all quantiles, which highlighted the critical role of green innovation in enhancing corporate sustainability. Moreover, a negative relationship between financial distress and ESG was obtained from the findings. Nevertheless, the objective which focused on the period before and after the Paris Agreement underscores the policy's catalytic role in amplifying the effects of green innovation on ESG scores. Therefore, our analysis not only affirms the crucial significance of green innovation in promoting ESG performance but also reveals the complex impact of financial crisis and the magnifying effect of international policies such as the Paris Agreement on these dynamics.</p>","PeriodicalId":47515,"journal":{"name":"Thunderbird International Business Review","volume":"68 3","pages":"379-397"},"PeriodicalIF":3.2,"publicationDate":"2026-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/tie.70042","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147668754","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}

引用次数: 0

Dynamic Return Connectedness and Hedging Strategies Between WTI and BRICS Stock Markets 西德克萨斯中质油与金砖国家股市的动态收益连通性及对冲策略

IF 3.2

Thunderbird International Business Review Pub Date : 2026-04-05 Epub Date: 2025-09-25 DOI: 10.1002/tie.70044

Dhoha Mellouli

引用次数: 0

Beyond Bloodlines: A Review of Succession Planning and Generational Continuity in African Family Businesses 超越血统：非洲家族企业的继承计划和世代连续性的回顾

IF 3.2

Thunderbird International Business Review Pub Date : 2026-04-05 Epub Date: 2025-09-14 DOI: 10.1002/tie.70045

Augustine Okeke

{"title":"Beyond Bloodlines: A Review of Succession Planning and Generational Continuity in African Family Businesses","authors":"Augustine Okeke","doi":"10.1002/tie.70045","DOIUrl":"10.1002/tie.70045","url":null,"abstract":"<p>This study presents a systematic review of 107 peer-reviewed articles on succession planning in African family businesses, offering a conceptual reframing of succession as an institutionally embedded process rather than a discrete managerial task. Moving beyond proceduralist and Eurocentric paradigms, the review integrates institutional theory, socioemotional wealth, and dynamic capabilities to interrogate how cultural norms, economic constraints, and social expectations interact to shape succession outcomes. Findings reveal a dominance of informal, kinship-based succession practices that, while culturally coherent, often compromise gender inclusion, strategic renewal, and organizational resilience. This study introduces a Context–Mechanism–Outcome (CMO) framework that synthesizes how succession success is mediated by the alignment between contextual forces and formal/informal planning mechanisms. Underrepresented subregions (e.g., Francophone and matrilineal societies) and overlooked themes (e.g., digital succession, gendered agency, and advisory ecosystems) are identified as critical frontiers for future research. The review concludes by proposing a theoretically generative agenda built on five propositions that reconceptualize succession planning through the lenses of institutional hybridity, temporal processuality, and intersectional legitimacy. This work provides a foundational synthesis for scholars and a diagnostic roadmap for practitioners seeking to structure inclusive, culturally attuned, and future-ready succession strategies in Africa.</p>","PeriodicalId":47515,"journal":{"name":"Thunderbird International Business Review","volume":"68 3","pages":"289-304"},"PeriodicalIF":3.2,"publicationDate":"2026-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/tie.70045","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147668293","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}

引用次数: 0

Economic Policy Uncertainty and Structural Transformation in Africa: The Conditional Role of Human Resource Development 非洲经济政策的不确定性与结构转型：人力资源开发的条件作用

IF 3.2

Thunderbird International Business Review Pub Date : 2026-04-05 Epub Date: 2025-09-28 DOI: 10.1002/tie.70047

Ekene ThankGod Emeka, Simplice A. Asongu, Anthony C. Ajah

{"title":"Economic Policy Uncertainty and Structural Transformation in Africa: The Conditional Role of Human Resource Development","authors":"Ekene ThankGod Emeka, Simplice A. Asongu, Anthony C. Ajah","doi":"10.1002/tie.70047","DOIUrl":"10.1002/tie.70047","url":null,"abstract":"<p>The present study has investigated two objectives. First, it examines the unconditional impact of economic policy uncertainty (EPU) on Africa's structural transformation. Second, it explores the conditional role of human resource development in the nexus between economic policy uncertainty (EPU) and structural transformation. The study is based on a sample of 47 African countries covering the period 2010–2022, and the adopted empirical strategy is the interactive generalized method of moments (GMM). The estimation exercise was strategically tailored to avoid a trade-off between selecting a valid model, controlling for variable omission bias, and preventing the proliferation of instruments. Specifically, the study employed human resource development proxies (i.e., average years of schooling, gross secondary enrollment ratio, and labor force participation), which were interacted with economic policy uncertainty to improve both manufacturing value added (% of GDP) and industrial value added (% of GDP). The findings reveal a negative net effect of economic policy uncertainty on Africa's structural transformation, as well as the corresponding human resource development thresholds that are essential to fully mitigate these adverse effects. The identified human resource development thresholds fall within statistical ranges, making them valuable for policymakers. Policy implications are discussed in line with the United Nations Sustainable Development Goals (SDGs) and the African Union's Agenda 2063 aspirations.</p>","PeriodicalId":47515,"journal":{"name":"Thunderbird International Business Review","volume":"68 3","pages":"439-452"},"PeriodicalIF":3.2,"publicationDate":"2026-04-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/tie.70047","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"147668712","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}

引用次数: 0

Envisioning Responsible Business Strategies and Corporate Compliance in China 设想在中国负责任的商业战略和企业合规

IF 3.2

Thunderbird International Business Review Pub Date : 2026-04-05 Epub Date: 2025-09-21 DOI: 10.1002/tie.70038

Timothy Byron Klatte, Lionel Huntley Henderson, Juergen Seufert

引用次数: 0

Shock Spillovers and Portfolio Resilience: The Role of Investor Sentiment in Times of Crises 冲击溢出与投资组合弹性：危机时期投资者情绪的作用

IF 3.2

Thunderbird International Business Review Pub Date : 2026-04-05 Epub Date: 2025-09-23 DOI: 10.1002/tie.70040

Hayet Soltani, Mouna Boujelbène Abbes

引用次数: 0