{"title":"Politicians' risk aversion and stake-sought in cross-border acquisitions","authors":"Limin Zhu , Jing Zhao , Jane W. Lu","doi":"10.1016/j.intman.2025.101276","DOIUrl":"10.1016/j.intman.2025.101276","url":null,"abstract":"<div><div>While scholars have highlighted the significant role of institutions in cross-border acquisition—a key yet high-risk activities in economic globalization, the influence of home country government, particularly the governmental officials, remains less explored. Governmental officials can wield their influence on firms to align corporate actions with their political incentives, which vary according to their career stage. We propose that officials at the end of their terms are more risk-averse and, therefore, tend to discourage high-risk business. Focusing on cross-border acquisitions by Chinese firms, we found that during the one-year period before political turnover, these acquisitions manifest in lower stake sought. Additional analyses suggest that the reduction in the risk level of cross-border acquisitions during political turnover periods varies according to the politician's risk-taking propensity and firms' vulnerability to the politician's influence in their jurisdictions. By highlighting officials' political incentives associated with political turnover, this study provides novel insights into research on cross-border acquisitions in emerging markets.</div></div>","PeriodicalId":47937,"journal":{"name":"Journal of International Management","volume":"31 5","pages":"Article 101276"},"PeriodicalIF":4.9,"publicationDate":"2025-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145011078","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}
{"title":"A culturally contingent view of the RBV in SMES internationalization","authors":"Rachida Aïssaoui , Norbert Sipos , Frances Fabian","doi":"10.1016/j.intman.2025.101275","DOIUrl":"10.1016/j.intman.2025.101275","url":null,"abstract":"<div><div>This study advances a culturally contingent approach to the resource-based view (RBV) by theorizing how national culture may affect the ways SMEs evaluate their resource endowments before deciding to internationalize. Comparing 1060 SMEs from 4 advanced and 11 emerging and developing economies, and accounting for the SME's national culture, our study departs from universalistic assumptions about the role of resources as a barrier to SME internationalization. SME internationalization research has often emphasized nations' economic status to explain why and when firms expand globally; we demonstrate that its effects are conflated with culture, obscuring critical dynamics in the process. Our findings extend RBV theory by introducing “<em>cultural resource valuation</em>” as a key mechanism, highlighting, for instance, a more nuanced role for networking capabilities in supporting the successful internationalization of SMEs than previously argued. We conclude that both managers and policymakers must recognize this cultural contingency, as Western-derived generalizations may misalign with domestic trade imperatives in diverse contexts. Doing so offers both theoretical nuance and practical guidance for SME internationalization.</div></div>","PeriodicalId":47937,"journal":{"name":"Journal of International Management","volume":"31 5","pages":"Article 101275"},"PeriodicalIF":4.9,"publicationDate":"2025-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145011071","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}
Angela da Rocha , Luíza Neves Marques da Fonseca , Clarice Secches Kogut
{"title":"Deciphering relocation paths: A systematic literature review of near-shoring and friend-shoring","authors":"Angela da Rocha , Luíza Neves Marques da Fonseca , Clarice Secches Kogut","doi":"10.1016/j.intman.2025.101282","DOIUrl":"10.1016/j.intman.2025.101282","url":null,"abstract":"<div><div>This study examines how extant literature has addressed the phenomena of near-shoring and friend-shoring. Through a systematic literature review of 51 papers published since the term's first appearance in academic literature to October 2024, it provides (i) an overview of the current state of academic research on the topics, compiling key themes and relevant findings; (ii) a conceptual framework organizing these themes; and (iii) a detailed examination of research gaps and future directions, mainly from an International Business perspective. Therefore, the study's primary contribution is to stimulate scholarly interest in these increasingly significant phenomena, which merit further academic attention.</div></div>","PeriodicalId":47937,"journal":{"name":"Journal of International Management","volume":"31 5","pages":"Article 101282"},"PeriodicalIF":4.9,"publicationDate":"2025-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145011069","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}
Snehal Awate , Ram Mudambi , Vittoria G. Scalera , Andreas P.J. Schotter
{"title":"Global connectivity in a world of disruptions","authors":"Snehal Awate , Ram Mudambi , Vittoria G. Scalera , Andreas P.J. Schotter","doi":"10.1016/j.intman.2025.101280","DOIUrl":"10.1016/j.intman.2025.101280","url":null,"abstract":"<div><div>Global connectivity represents a critical enabler of progress as it contributes to the exchange of goods, knowledge, and ideas across organizational and national borders. Technology- and human-based networks are the prime drivers of connectivity. The development of information and communication technologies, together with the movement of people across borders, has dramatically accelerated collaboration on a global scale, fostering innovation, cultural exchange, and economic prosperity. Yet, connectivity is a double-edged sword. The increasing interconnectedness of our world also uncovers the <em>liability of global connections</em><span>, which renders countries and organizations more vulnerable to disruptions, particularly under certain conditions. We discuss how different forms of connectivity face distinct threats when disruptions occur, depending on the source and predictability of such disruptions. A key pillar of our analysis is the focus on the complex interplay between human and technological factors in shaping our interconnected world and the implications for firms, especially multinational enterprises (MNEs). Carefully analyzing the composite portfolio of connectivity by balancing the technological and human factors is a core strategic requisite to ensure resilience and renewal for MNEs in a complex, interconnected world. We provide a more comprehensive perspective on global connectivity in the international business context to understand the complexities of disruptions. Building on a rich foundation, we offer an agenda outlining new avenues for future research to improve our collective understanding of global connectivity in a world of disruptions.</span></div></div>","PeriodicalId":47937,"journal":{"name":"Journal of International Management","volume":"31 5","pages":"Article 101280"},"PeriodicalIF":4.9,"publicationDate":"2025-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145011074","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}
Daniel S. Andrews , Michael H. Wolfesberger , Laurenz Tinhof , Ajai Gaur
{"title":"Knowledge governance in multinational firms: Subsidiary roles amid IPR differences","authors":"Daniel S. Andrews , Michael H. Wolfesberger , Laurenz Tinhof , Ajai Gaur","doi":"10.1016/j.intman.2025.101291","DOIUrl":"10.1016/j.intman.2025.101291","url":null,"abstract":"<div><div>This study examines how multinational firms manage decision delegation in foreign subsidiaries amid varying intellectual property rights (IPR) protection. Analyzing data from 401 subsidiaries, we find that the relationship between institutional IPR differences and decision delegation is mediated by subsidiary strategic roles. In environments with weaker IPR protection, corporate parents position subsidiaries toward competence-exploiting roles, emphasizing non-local engagement and internal reliance on supplies. Conversely, in stronger IPR environments, subsidiaries adopt competence-creating roles with greater local knowledge engagement and external supply inflows. These strategic roles subsequently influence decision structures, with competence-creating roles requiring more autonomy and competence-exploiting roles facilitating centralization. This environment-strategy-structure alignment advances theory of how multinational firms design their organization to balance knowledge protection and creation globally.</div></div>","PeriodicalId":47937,"journal":{"name":"Journal of International Management","volume":"31 5","pages":"Article 101291"},"PeriodicalIF":4.9,"publicationDate":"2025-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145011077","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}
William Newburry , Marcelo J. Alvarado-Vargas , Michel Hermans
{"title":"When power shifts towards women or lesbian and gay coworkers: Effects on trust in coworkers and the role of firm international proactiveness","authors":"William Newburry , Marcelo J. Alvarado-Vargas , Michel Hermans","doi":"10.1016/j.intman.2025.101255","DOIUrl":"10.1016/j.intman.2025.101255","url":null,"abstract":"<div><div>We explore the effects of perceived shifts of power towards minority groups on trust in coworkers. Drawing on intergroup threat theory (ITT), we argue that while the realistic threat of loss of power is similar across minority groups, differences in the extent to which groups are stigmatized and the application of social norms regarding equal opportunity and fairness explain different effects of threat perceptions on trust. We differentiate between gender, a surface-level diversity type, and sexual orientation, a deep-level diversity type to test whether differences between these groups explain differential effects on perceptions of threat resulting from power shifts. Additionally, we argue that suppression of local stereotypes by global social norms regarding equal opportunity and fairness is more likely to occur when individuals perceive a need to adhere to international behavioral frames. Hence, we examine firm international proactiveness as a moderator of associations between threat perceptions and trust in coworkers. Within a sample of 841 respondents across ten Latin American countries, and controlling for country-level characteristics, we find that diversity type matters, and that social norms regarding equal opportunity and fairness become more relevant to the extent that a firm is perceived to be more oriented towards global markets. Our findings suggest that organizations may increase trust among coworkers –an indicator of inclusion– by increasing awareness of concerns of less visible minority groups and by emphasizing supra-national social norms.</div></div>","PeriodicalId":47937,"journal":{"name":"Journal of International Management","volume":"31 4","pages":"Article 101255"},"PeriodicalIF":5.9,"publicationDate":"2025-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144595760","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}
Shihao Wei , Zhan Wu , Pekka Stenholm , Zhongfeng Su
{"title":"Positive deviance: Income inequality and entrepreneurs' pursuit of innovative entrepreneurship","authors":"Shihao Wei , Zhan Wu , Pekka Stenholm , Zhongfeng Su","doi":"10.1016/j.intman.2025.101257","DOIUrl":"10.1016/j.intman.2025.101257","url":null,"abstract":"<div><div>Drawing on anomie theory, this study examines the impact of income inequality on entrepreneurs' pursuit of innovative entrepreneurship and how this impact varies according to entrepreneurs' financial capital, government size, and governance quality. Utilizing a sample of 56,281 observations across 55 countries, this study finds that income inequality has a positive effect on entrepreneurs' pursuit of innovative entrepreneurship, and this effect is mitigated by government size and governance quality. Moreover, the positive effect of income inequality on innovative entrepreneurship is greater for entrepreneurs in the middle-income class than those in lower- and higher-income brackets. This study extends the implications of income inequality to innovative entrepreneurship and advances our knowledge of the boundary conditions of this relationship. Moreover, it contributes to the comparative international entrepreneurship literature by clarifying the crucial role of income inequality in explaining variations in innovative entrepreneurship across countries.</div></div>","PeriodicalId":47937,"journal":{"name":"Journal of International Management","volume":"31 4","pages":"Article 101257"},"PeriodicalIF":5.9,"publicationDate":"2025-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144595756","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}
{"title":"Building resilience amidst geopolitical tensions: The case of U.S. MNE subsidiaries in China","authors":"Jiang Yu , Yuanxin Fang , Yutong Bai , Feng Chen","doi":"10.1016/j.intman.2025.101260","DOIUrl":"10.1016/j.intman.2025.101260","url":null,"abstract":"<div><div>This study investigates how foreign subsidiaries build resilience amid home-host geopolitical tensions. Drawing on resilience and geopolitical risk management literature, we conduct an in-depth qualitative analysis of four U.S. MNE subsidiaries in China. Building on our findings, we propose a model of subsidiary resilience as a capability-building process that unfolds across three stages: before, during, and after geopolitical disruptions. Our results reveal two distinct resilience trajectories. Subsidiaries that exhibit a transformative resilience cycle engage in promotive resistance before disruption, followed by proactive adaptation during disruption and deep-level learning afterward, enabling them to ‘bounce forward’ to a stronger state. In contrast, subsidiaries following a stabilizing resilience cycle adopt defensive resistance, reactive adaptation, and surface-level learning, resulting in a return to pre-crisis conditions (‘bouncing back’). These findings uncover the critical processes determining whether and how subsidiaries maintain resilience over time. The paper concludes with implications for both research and practice.</div></div>","PeriodicalId":47937,"journal":{"name":"Journal of International Management","volume":"31 4","pages":"Article 101260"},"PeriodicalIF":5.9,"publicationDate":"2025-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144595930","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}
{"title":"Insidious institutional challenges of mature MNE subsidiaries operating in weak institutional markets: Corporate governance to the rescue","authors":"Franklin Nakpodia , Folajimi Ashiru , Emmanuel Adegbite , Nikolina Koporcic","doi":"10.1016/j.intman.2025.101258","DOIUrl":"10.1016/j.intman.2025.101258","url":null,"abstract":"<div><div>Insidious institutional challenges are unknown versions of known challenges that exist and persist even for mature multinational enterprises (MNEs) in host markets. Although the international business literature offers valuable insights into the significance of corporate governance mechanisms, institutions, and institutional environment relationships, a practical understanding of what insidious institutional challenges are and how they can be addressed using corporate governance mechanisms, especially in weak institutional environments, is less researched. Therefore, relying on institutional theorizing and qualitative evidence from 34 interviews with executives of mature MNE subsidiaries in Nigeria, this paper documents three insidious institutional challenges encountered by mature MNE subsidiaries: the organisational identity conundrum (‘us vs them’), limited attention to social capital discordance (‘bonding capital vs trust capital’), and persistent intention contradictions (‘elaborate politically correct rhetoric vs limited believable action’). The study also identifies three corporate governance-related themes that mature MNE subsidiaries can utilize to manage institutional challenges: enhanced local stakeholder engagement, elevated accountability drivers, and digital technology and innovation deployment. The study advances international business literature as it sheds theoretical as well as practical insights into how mature MNE subsidiaries operating in a weak institutional context can overcome insidious institutional challenges.</div></div>","PeriodicalId":47937,"journal":{"name":"Journal of International Management","volume":"31 4","pages":"Article 101258"},"PeriodicalIF":5.9,"publicationDate":"2025-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144595763","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}
{"title":"Corporate governance, board networks and firm performance","authors":"Deeksha Singh","doi":"10.1016/j.intman.2025.101261","DOIUrl":"10.1016/j.intman.2025.101261","url":null,"abstract":"<div><div>This study revisits the corporate governance–firm performance relationship using a multi-theoretic framework, drawing on agency theory and resource dependence theory (RDT). Focusing on emerging market firms in India, I argue that the benefits of board independence, traditionally emphasized for monitoring and resource access roles, are contingent upon other governance mechanisms and network structures. Using a longitudinal dataset of 2689 publicly listed firms in India, I find that board independence, separation of the CEO and board chair roles and family ownership positively influence firm performance. Additionally, firms with greater board network centrality perform better, accessing vital financial, institutional, and knowledge resources. Importantly, the findings reveal that the positive effects of board independence are diminished in the presence of high family ownership and strong board network ties, suggesting a contingency-based governance-performance relationship. This study contributes to corporate governance literature by highlighting the contextual nature of governance effectiveness in emerging markets.</div></div>","PeriodicalId":47937,"journal":{"name":"Journal of International Management","volume":"31 4","pages":"Article 101261"},"PeriodicalIF":5.9,"publicationDate":"2025-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144595757","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}