Journal of International Management最新文献

The effects of multinationality on the market value of cash: Evidence from Latin America 多国性对现金市场价值的影响：来自拉丁美洲的证据

IF 5.9 2区管理学

Journal of International Management Pub Date : 2025-06-01 DOI: 10.1016/j.intman.2025.101240

Aviner Augusto Silva Manoel , Marcelo Botelho da Costa Moraes , Jorge Carneiro , Eloisa Perez-de Toledo

{"title":"The effects of multinationality on the market value of cash: Evidence from Latin America","authors":"Aviner Augusto Silva Manoel , Marcelo Botelho da Costa Moraes , Jorge Carneiro , Eloisa Perez-de Toledo","doi":"10.1016/j.intman.2025.101240","DOIUrl":"10.1016/j.intman.2025.101240","url":null,"abstract":"<div><div>The aim of this paper is to examine whether the value investors place on cash holdings varies between multinationals and domestic firms from Latin America. Utilizing data from the six largest Latin American economies, our analyses with different proxies of multinationality reveal that investors do not attribute a significant valuation premium, nor do they impose a price discount, on the cash held by Latin American multinational corporations (Multilatinas) when compared to the cash of their domestic counterparts. These findings suggest that shareholders do not view Multilatinas' cash holdings as conferring greater advantages relative to those of domestic firms. We interpret this as evidence that the perceived benefits of multinationality, such as increased growth potential, may be counterbalanced by elevated agency costs and greater information asymmetry. Our study advances the literature on cash holdings and international business and discusses implications for stakeholders of multinational corporations that have subsidiaries in countries with potential growth opportunities but in which poor investor protection may lead to agency conflicts and the risk of improper cash diversion. Our research yields important implications for policymakers by highlighting the relevance of requiring the disclosure of disaggregated information about domestic and foreign cash to improve efficiency in stakeholder decision-making.</div></div>","PeriodicalId":47937,"journal":{"name":"Journal of International Management","volume":"31 3","pages":"Article 101240"},"PeriodicalIF":5.9,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144239838","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Multinational enterprises and sustainable business in emerging markets 跨国企业与新兴市场的可持续经营

IF 5.9 2区管理学

Journal of International Management Pub Date : 2025-06-01 DOI: 10.1016/j.intman.2025.101254

Maoliang Bu , Faith Hatani , Dirk Holtbrügge , Ari Van Assche

引用次数: 0

The culprit behind bootleg music: The diverging roles of formal and informal institutions 盗版音乐背后的罪魁祸首：正式和非正式机构的角色分化

IF 5.9 2区管理学

Journal of International Management Pub Date : 2025-06-01 DOI: 10.1016/j.intman.2025.101237

Noman Shaheer , Ryan W. Tang , Jing Yu Yang

引用次数: 0

Unfolding and developing disseminative capacity of subsidiaries via structural integration in MNCS 跨国公司结构整合中子公司传播能力的展开与发展

IF 5.9 2区管理学

Journal of International Management Pub Date : 2025-06-01 DOI: 10.1016/j.intman.2025.101238

H. Emre Yildiz , Abby Jingzi Zhou , Carl F. Fey

引用次数: 0

Navigating international entry via strategic alliances: Comparison of family and non-family firms 通过战略联盟引导国际进入：家族企业与非家族企业的比较

IF 5.9 2区管理学

Journal of International Management Pub Date : 2025-06-01 DOI: 10.1016/j.intman.2025.101250

Sumit Chakraborty , Chitra Singla

{"title":"Navigating international entry via strategic alliances: Comparison of family and non-family firms","authors":"Sumit Chakraborty , Chitra Singla","doi":"10.1016/j.intman.2025.101250","DOIUrl":"10.1016/j.intman.2025.101250","url":null,"abstract":"<div><div>International strategic alliances (ISAs) serve as an important vehicle for growth, international expansion, and access to technology and other resources. The choice of governance structure in ISAs—specifically, whether to form an international joint venture (IJV) or an international non-equity alliance (INEA)—is a pivotal decision for firms. However, despite the importance of this choice, the influence of firms' ownership heterogeneity on the choice remains underexplored. In order to address this gap, this study compares family-owned and non-family-owned firms to examine their differing preferences between IJVs and INEAs. Drawing on an integrated risk perspective and the mixed-gamble socioemotional wealth perspective, we argue that family firms exhibit a greater propensity to choose IJVs over INEAs than non-family firms. Moreover, we posit that this preference is amplified by two factors: (1) the industry-relatedness of the alliance partners and (2) the focal firm's prior experience in the partner's home country. Empirical analysis of 1216 cross-border dyadic alliances formed by publicly listed Indian firms between 2000 and 2022 provides robust support for our hypotheses. This study contributes to the literature on international strategic alliances and family firms' internationalization by shedding light on the nuanced governance preferences of family firms in cross-border collaborations.</div></div>","PeriodicalId":47937,"journal":{"name":"Journal of International Management","volume":"31 3","pages":"Article 101250"},"PeriodicalIF":5.9,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144239839","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Workplace discrimination and overqualification among self-initiated expatriates: The moderating role of organizational legitimacy 自我发起的外派人员的工作场所歧视和资历过高：组织合法性的调节作用

IF 5.9 2区管理学

Journal of International Management Pub Date : 2025-06-01 DOI: 10.1016/j.intman.2025.101252

Alexei Koveshnikov , Miikka J. Lehtonen

{"title":"Workplace discrimination and overqualification among self-initiated expatriates: The moderating role of organizational legitimacy","authors":"Alexei Koveshnikov , Miikka J. Lehtonen","doi":"10.1016/j.intman.2025.101252","DOIUrl":"10.1016/j.intman.2025.101252","url":null,"abstract":"<div><div>Drawing on relative deprivation theory, this study develops a model to examine whether perceived overqualification and workplace discrimination negatively influence self-initiated expatriates' (SIE) expatriation satisfaction. Additionally, it investigates whether organizational legitimacy and status moderate these relationships. Analyzing a sample of 379 SIEs living and working in the United Arab Emirates (UAE), we find that workplace discrimination significantly reduces SIEs' overall expatriation satisfaction. However, this negative effect diminishes when SIEs perceive their host organization as having high sociopolitical legitimacy. Conversely, the negative impact of workplace discrimination strengthens when SIEs view their host organization's status as high. In contrast, perceived overqualification has no effect on SIEs' expatriation satisfaction, regardless of the host organization's legitimacy or status. This study contributes to the existing literature by highlighting the effects of workplace discrimination and overqualification on SIEs' expatriation experiences. It also elucidates the crucial role of sociopolitical legitimacy and organizational status in shaping SIEs' s responses to negative expatriation experiences.</div></div>","PeriodicalId":47937,"journal":{"name":"Journal of International Management","volume":"31 3","pages":"Article 101252"},"PeriodicalIF":5.9,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144239841","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

Foreign subsidiary performance in multinational enterprises: The role of business development capabilities and resource deployment 外资子公司绩效在跨国企业中的作用：业务发展能力与资源配置

IF 5.9 2区管理学

Journal of International Management Pub Date : 2025-06-01 DOI: 10.1016/j.intman.2025.101251

Quyen T.K. Nguyen , Paloma Almodóvar

引用次数: 0

Corrigendum to “Multinational enterprises and sustainable business in emerging markets” [J. Int. Manag.] “跨国企业与新兴市场的可持续经营”的勘误表[J]。Int。等内容。

IF 5.9 2区管理学

Journal of International Management Pub Date : 2025-06-01 DOI: 10.1016/j.intman.2025.101256

Maoliang Bu , Faith Hatani , Dirk Holtbrügge , Ari Van Assche

引用次数: 0

Technological complexity and the creation of impactful technologies: The role of inventors' international diversity and expertise 技术复杂性和有影响力的技术的创造：发明者的国际多样性和专业知识的作用

IF 5.9 2区管理学

Journal of International Management Pub Date : 2025-06-01 DOI: 10.1016/j.intman.2025.101239

Mario Kafouros , Eva Mavroudi , Murod Aliyev , Junjie Hong

{"title":"Technological complexity and the creation of impactful technologies: The role of inventors' international diversity and expertise","authors":"Mario Kafouros , Eva Mavroudi , Murod Aliyev , Junjie Hong","doi":"10.1016/j.intman.2025.101239","DOIUrl":"10.1016/j.intman.2025.101239","url":null,"abstract":"<div><div>Given that highly impactful technologies can generate immense value and build competitive advantages for MNEs, it is crucial to understand how they can successfully create them. This study's overarching contribution lies in explaining how MNEs can assemble inventor teams and optimize their composition to overcome the challenges of technological complexity and create highly impactful technologies. Analyzing a sample of 2.3 million technologies created by 183,833 firms across 139 countries, the study reveals that MNEs with teams that are internationally diverse (multi-country) and possess greater technological expertise are better equipped to leverage complex knowledge in technology creation. Importantly, it also indicates that while international diversity is less effective in making teams more innovative across all levels of complexity, its value lies in delaying the point at which extreme complexity hinders technology creation. In contrast, technological expertise helps team create more impactful technologies at any level of complexity but is less effective in postponing the point where extreme complexity becomes overwhelming. These insights underscore that international diversity and technological expertise are complementary, supporting MNE teams in distinct but synergistic ways.</div></div>","PeriodicalId":47937,"journal":{"name":"Journal of International Management","volume":"31 3","pages":"Article 101239"},"PeriodicalIF":5.9,"publicationDate":"2025-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144239835","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":2,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 0

A microscope on de-risking 降低风险的显微镜

IF 5.9 2区管理学

Journal of International Management Pub Date : 2025-03-01 DOI: 10.1016/j.intman.2025.101231

Yadong Luo

引用次数: 0