{"title":"AI as a Strategic Driver in Foreign Direct Investment Flows: Evidence of OECD Countries","authors":"Dafni Grigoriadi","doi":"10.1002/tie.70057","DOIUrl":"https://doi.org/10.1002/tie.70057","url":null,"abstract":"<p>This study examines how AI-related capabilities and institutional signals shape foreign direct investment (FDI) inward and outward flows in OECD countries. Drawing on Dunning's OLI paradigm and North's Institutional Theory, the paper investigates whether AI Patent Grants, Newly Funded AI Firms and Mentions of AI in Legislative Proceedings influence foreign direct investment. Using panel data from 25 countries, we apply regression models to assess whether AI is perceived as a valid driver of foreign direct investing. Results demonstrate that Newly Funded AI Firms significantly increase investment flows supporting the notion that dynamic AI entrepreneurship strengthens advantages in line with the OLI eclectic paradigm. In contrast AI Patent Grants have a significant negative effect; from an OLI perspective, this may indicate that the sector is still in an early stage, without commercial maturity. Surprisingly the robustness checks did not find statistically significant differences for inward foreign direct investments. However, when the model is re-estimated with additional control variables, AI Patent Grants regain statistical significance. AI Legislative Proceedings do not significantly affect investment flows, suggesting that investment decisions are affected more by regulations than formal legislative discussions. This research contributes to the emerging field of AI-driven international business by reconceptualizing investments as a proactive AI strategy. The policy implications underscore the importance of AI-compliant institutions and stronger support for multinational enterprises (MNEs). From a managerial perspective, the findings highlight AI as a critical axis for strategic planning across global value chains.</p>","PeriodicalId":47515,"journal":{"name":"Thunderbird International Business Review","volume":"68 4","pages":"561-577"},"PeriodicalIF":3.2,"publicationDate":"2026-06-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/tie.70057","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148194019","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 Export and Financial Effects of Immigrant Team Composition in International New Ventures","authors":"Horatio M. Morgan, Sui Sui","doi":"10.1002/tie.70059","DOIUrl":"https://doi.org/10.1002/tie.70059","url":null,"abstract":"<p>Immigrant-owned international new ventures (INVs) often partner with non-immigrant entrepreneurs as co-owners. Their mixed immigrant-nonimmigrant teams could engender varied perspectives. But it is unclear whether such cognitive diversity improves their international strategy and performance. We develop a cognitive framework to resolve this issue. It relates the export and financial effects of INV teams to their cognitive diversity and flexibility. Based on an analysis of 524 Canadian new ventures from 2011 to 2015, we show that initial immigrant-majority teams positively impact INVs' country-of-origin export intensity and the associated financial returns. Meanwhile, subsequent non-immigrant co-ownership reverses this export trend but amplifies the financial returns.</p>","PeriodicalId":47515,"journal":{"name":"Thunderbird International Business Review","volume":"68 4","pages":"593-608"},"PeriodicalIF":3.2,"publicationDate":"2026-06-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/tie.70059","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148193998","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":"Insurance Development as a Catalyst for Productive Capacity Expansion in African Economies","authors":"Ekene ThankGod Emeka","doi":"10.1002/tie.70060","DOIUrl":"https://doi.org/10.1002/tie.70060","url":null,"abstract":"<div>\u0000 \u0000 <p>This study investigated the disaggregated and aggregated components of insurance development as a potent driver of Africa's productive capacity. The analysis covers 45 African countries over the period 2010–2020. The employed baseline empirical strategy is the dynamic panel Generalized Method of Moments (GMM), which accounts for simultaneity bias and unobserved heterogeneity, thereby addressing potential endogeneity concerns. To reinforce the robustness of the baseline estimations, the Lewbel Two-Stage Least Squares (2SLS) approach is also applied. Across the various estimation techniques and some sets of sensitivity analysis, the findings reveal that life insurance, non-life insurance, and their aggregate, which represents total insurance development, emerge as important factors for enhancing Africa's productive capacity. Secondly, results from the mediation analysis reveal that investment and technological innovation serve as the transmission channels through which insurance development enhances productive capacity in Africa. Further findings and policy implications are framed within the Sustainable Development Goals (SDGs) and Africa's Agenda 2063 to advance the region's productive capacity.</p>\u0000 </div>","PeriodicalId":47515,"journal":{"name":"Thunderbird International Business Review","volume":"68 4","pages":"609-623"},"PeriodicalIF":3.2,"publicationDate":"2026-06-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148194155","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 Competitiveness of the Saudi Financial Sector: Analysis Within the Framework of Vision 2030","authors":"Yousif Hassan Ahmed Balola","doi":"10.1002/tie.70056","DOIUrl":"https://doi.org/10.1002/tie.70056","url":null,"abstract":"<div>\u0000 \u0000 <p>This paper presents an in-depth academic analysis of the competitiveness of the Saudi financial sector, assessing its evolution, current status, and future path within the transformative framework of Vision 2030. The study investigates key dimensions of competitiveness, such as regulatory frameworks, market structure, technological innovation (with a focus on fintech), global integration, and the sector's contribution to economic diversification. Using a mixed-methods methodology informed by a structured qualitative review and a new quantitative analysis of Financial Soundness Indicators (FSIs), this paper posits that while the Saudi financial sector has advanced considerably in efficiency and innovation, its global competitiveness is still developing. As Havrlant (2021) asserts, Vision 2030 redefines finance from a passive utility to an active architect of diversification—a conceptual shift this paper adopts to evaluate competitiveness not as an end, but as a means to structural transformation. The analysis highlights ongoing challenges such as market concentration, talent shortages, and the need for more developed non-bank financial markets. The paper concludes that the ambitious targets of the Financial Sector Development Program (FSDP) are essential for boosting competitiveness, positioning Saudi Arabia as a leading regional financial hub, and ultimately supporting the broader goals of economic diversification and sustainable growth outlined in Vision 2030.</p>\u0000 </div>","PeriodicalId":47515,"journal":{"name":"Thunderbird International Business Review","volume":"68 4","pages":"555-560"},"PeriodicalIF":3.2,"publicationDate":"2026-06-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148194204","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":"Banking on Sustainable Innovation: A Comparative Analysis of Institutional and Regulatory Frameworks for SME Finance in the EU and African Union","authors":"Priscilla Akua Vitoh","doi":"10.1002/tie.70030","DOIUrl":"https://doi.org/10.1002/tie.70030","url":null,"abstract":"<p>This paper examines how legal and institutional frameworks influence bank financing for sustainable innovation among SMEs in the European Union (EU) and African Union (AU). Using institutional theory, it analyzes how coercive, normative, and mimetic pressures interact across international, regional, and domestic levels to shape green lending practices. Drawing on a systematic review of legal and financial literature from 2000 to 2024, the study highlights how the coherence and enforceability of regulations directly affect the availability of sustainability-linked finance. Through a comparative analysis of the EU and AU, it demonstrates that institutional structures are not merely background conditions but active forces enabling or constraining SME contributions to sustainable development. The findings offer new insights into the critical role of regulatory alignment and institutional maturity in expanding access to green finance, with practical implications for policymakers, financial regulators, and SME managers seeking to promote inclusive and climate-resilient innovation.</p>","PeriodicalId":47515,"journal":{"name":"Thunderbird International Business Review","volume":"68 4","pages":"455-471"},"PeriodicalIF":3.2,"publicationDate":"2026-06-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/tie.70030","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148194005","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":"Strategic International Marketing—Strategy Development and Implementation. By Carl Arthur Solberg and Håvard Huse, New York: Routledge, 2024. 418 pp. EUR 35.99 (ebook). ISBN: 978-1-03-246773-3","authors":"Muhammad Noval","doi":"10.1002/tie.70049","DOIUrl":"https://doi.org/10.1002/tie.70049","url":null,"abstract":"","PeriodicalId":47515,"journal":{"name":"Thunderbird International Business Review","volume":"68 4","pages":"625-628"},"PeriodicalIF":3.2,"publicationDate":"2026-06-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148193990","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":"Illicit Financial Flows, Violent Conflicts and Longevity in Power in Sub-Saharan Africa","authors":"Ahandi Vincent Lompo, Achille Augustin Diendere","doi":"10.1002/tie.70055","DOIUrl":"https://doi.org/10.1002/tie.70055","url":null,"abstract":"<div>\u0000 \u0000 <p>The issue of illicit financial flows is attracting increasing attention. The aim of this article is to analyze the effects of illicit financial flows on violent conflicts, based on the length of time in power. The panel data used covers 42 sub-Saharan African (SSA) countries and relates to the period from 2002 to 2023. In terms of methodology, the estimation technique favors Wang's method, which is very important in the analysis of non-linear relationships with threshold effects. This work stands out from other studies in terms of methodology: recent data, an extended time horizon and an increased sample size. The results show that illicit financial flows significantly increase violent conflicts in two stages. In the first stage, a length of time in power below the threshold of 23 years contributes to a slight increase in the effects of illicit financial flows on violent conflicts. In the second stage, a length of time in power above the threshold of 23 years contributes to a sharp increase in the effects of illicit financial flows on violent conflicts. In terms of economic policy implications, the results suggest that public authorities in sub-Saharan African countries should reduce false invoicing in order to mitigate illicit financial flows. In addition, the results suggest limiting presidential terms to two decades in order to reduce illicit financial flows and violent conflict.</p>\u0000 </div>","PeriodicalId":47515,"journal":{"name":"Thunderbird International Business Review","volume":"68 4","pages":"539-553"},"PeriodicalIF":3.2,"publicationDate":"2026-06-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148194179","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}
Giulio Ferrigno, Nadia Di Paola, Giovanni Battista Dagnino
{"title":"Not All That Glitters Is Gold! The Brokerage Role of Consulting Companies in Disseminating Information to Overcome the Barriers to Metaverse Adoption","authors":"Giulio Ferrigno, Nadia Di Paola, Giovanni Battista Dagnino","doi":"10.1002/tie.70052","DOIUrl":"https://doi.org/10.1002/tie.70052","url":null,"abstract":"<p>The last few years have seen a reemergence in the awareness of virtual worlds among practitioners and academics. Driven by tech giants' investments, the Metaverse is considered by some as an unprecedented revolutionary technology with the potential to unlock an entire gamut of new unexplored opportunities for both companies and individuals. Others instead talk of “Metaverse dream fallacy” for search traffic for the word Metaverse has collapsed by roughly 80% over the past year and some companies have discontinued their Metaverse projects. In such a puzzled situation, managers are left without solid advice on the Metaverse concrete adoption and adoption speed. This article explores the brokerage role of top consulting companies in disseminating information that makes managers aware of Metaverse concrete adoption and of its adoption speed. Based on an AI-supported thematic analysis of 199 documents on Metaverse published by world's top consulting companies in the 2 years 2021–2023, we identify four key barriers to Metaverse adoption and categorize them into an enriched four-legged TOE (i.e., technological, organizational, environmental, and human barriers) framework. In the process, we unveil a suite of managerially relevant aspects emerging from tapping into the Metaverse adoption process.</p>","PeriodicalId":47515,"journal":{"name":"Thunderbird International Business Review","volume":"68 4","pages":"487-499"},"PeriodicalIF":3.2,"publicationDate":"2026-06-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/tie.70052","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148194164","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}
Tipon Tanchangya, Kazi Omar Siddiqi, Bablu Kumar Dhar, Junaid Rahman, Naimul Islam, Shishir Das
{"title":"Leveraging Green Capabilities and Digital Accounting Under ESG Pressure: Strategic Insights From an Emerging Market's Global Value Chains","authors":"Tipon Tanchangya, Kazi Omar Siddiqi, Bablu Kumar Dhar, Junaid Rahman, Naimul Islam, Shishir Das","doi":"10.1002/tie.70058","DOIUrl":"https://doi.org/10.1002/tie.70058","url":null,"abstract":"<p>ESG-driven buyer governance in global value chains compels emerging-market suppliers to internalize new bundles of green and digital capabilities to remain competitive. This study examines how manufacturing firms in such contexts can orchestrate these capabilities under ESG pressure to achieve sustainable organizational performance. Anchored in the natural resource-based view (NRBV) and dynamic capabilities perspective (DCV), we develop and test an integrative framework in which sustainability management accounting (SMA) operates as a capability conduit linking green knowledge integration capability (GKIC) and green organizational culture (GOC) to performance, while business analytics adoption (BAA) functions as a digital amplifier that strengthens the SMA–SOP relationship. Using partial least squares structural equation modeling (PLS-SEM) on survey data from 412 professionals in Bangladesh's export-oriented manufacturing sector, the findings demonstrate that SMA mediates and BAA amplifies the impact of green capabilities on performance. Robustness diagnostics (PLSpredict and IPMA) confirm predictive validity and managerial priority areas. Practically, integrating SMA and BAA helps firms improve ESG audit pass rates, retain preferred-supplier status, and sustain export continuity in international markets. The study advances theory by conceptualizing the GKIC–SMA–BAA configuration as a scalable pathway for ESG-driven competitiveness in global value chains.</p>","PeriodicalId":47515,"journal":{"name":"Thunderbird International Business Review","volume":"68 4","pages":"579-592"},"PeriodicalIF":3.2,"publicationDate":"2026-06-07","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://onlinelibrary.wiley.com/doi/epdf/10.1002/tie.70058","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"148193882","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":"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}