Journal of International Business Studies最新文献_第10页

The effects of import competition on domestic financial markets: The role of limits-to-arbitrage 进口竞争对国内金融市场的影响:限制套利的作用

IF 11.6 1区管理学

Journal of International Business Studies Pub Date : 2023-11-23 DOI: 10.1057/s41267-023-00655-6

R. Jared DeLisle, Mengying Wang, H. Zafer Yüksel, Gulnara R. Zaynutdinova

{"title":"The effects of import competition on domestic financial markets: The role of limits-to-arbitrage","authors":"R. Jared DeLisle, Mengying Wang, H. Zafer Yüksel, Gulnara R. Zaynutdinova","doi":"10.1057/s41267-023-00655-6","DOIUrl":"https://doi.org/10.1057/s41267-023-00655-6","url":null,"abstract":"While prior studies investigate the consequences of globalization, there remains a notable gap in understanding the market efficiency implications associated with globalization-induced import competition. Through the lens of asset pricing, we explore the financial market consequences of import competition exposure (ICE) and find a dark side of globalization. Consistent with the managerial objectives theory, we show that ICE is associated with high cash flow volatility, information asymmetry, and firm uncertainty. Moreover, ICE is positively related to limits-to-arbitrage (LTA), market inefficiencies such as holding and transactions costs. We find that domestic firms with higher ICE earn larger stock return premiums than those with lower exposure and, consistent with the limits-to-arbitrage theory, we demonstrate that LTA play a positive moderating role in the ICE premium. The use of a natural experiment in our analyses provides additional robust support of our hypotheses. Our findings impact both portfolio management decisions and how firms should incorporate the ICE premium into their cost of capital. A key implication is that firms exposed to import competition should prioritize transparency (such as disseminate highly readable disclosures) in order to diminish information asymmetry and limits-to-arbitrage, which would consequently reduce their associated ICE premium.","PeriodicalId":48453,"journal":{"name":"Journal of International Business Studies","volume":"10 9","pages":""},"PeriodicalIF":11.6,"publicationDate":"2023-11-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138297671","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"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

Not all threats are equal: symbolic and realistic threats and the deployment of parent-country nationals 并非所有的威胁都是平等的:象征性的和现实的威胁以及母国国民的部署

IF 11.6 1区管理学

Journal of International Business Studies Pub Date : 2023-11-16 DOI: 10.1057/s41267-023-00654-7

Fiona Kun Yao, Jing Yu Yang, Song Chang, Jane Wenzhen Lu

{"title":"Not all threats are equal: symbolic and realistic threats and the deployment of parent-country nationals","authors":"Fiona Kun Yao, Jing Yu Yang, Song Chang, Jane Wenzhen Lu","doi":"10.1057/s41267-023-00654-7","DOIUrl":"https://doi.org/10.1057/s41267-023-00654-7","url":null,"abstract":"Through extending the psychological approach to threats, we advance a threat–contingency model to understand how two domains of host-country threats–symbolic and realistic–drive multinational enterprises (MNEs) to deploy parent-country nationals to manage their foreign subsidiaries. When faced with symbolic threats related to ethics and morals in a host country, MNEs act rigidly and conservatively, increasing the likelihood of deploying parent-country nationals as executives in foreign subsidiaries. When dealing with realistic threats associated with potential economic losses in a host country, however, MNEs are adaptive, decreasing the tendency to transfer parent-country nationals abroad and increasing the use of host-country nationals in foreign subsidiaries. The two threats interact in affecting staffing decisions. Moreover, industry globalization moderates asymmetrically the influences of the two threats: globalization strengthens the effect of symbolic threats but weakens the effect of realistic threats. We used a primary archival study and supplementary laboratory studies to test our hypotheses. Overall, our study provides an additional theoretical account to explain MNEs’ divergent responses toward two domains of threats in a host country. We conclude the study with implications for international business and global mobility research.","PeriodicalId":48453,"journal":{"name":"Journal of International Business Studies","volume":"110 7","pages":""},"PeriodicalIF":11.6,"publicationDate":"2023-11-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"138292866","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"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

List of Guest Editors 特邀编辑名单

1区管理学

Journal of International Business Studies Pub Date : 2023-11-14 DOI: 10.1057/s41267-023-00646-7

引用次数: 0

Missed connections: A resource-management theory to combat loneliness experienced by globally mobile employees 错过的联系:一个资源管理理论，以对抗全球流动员工所经历的孤独感

IF 11.6 1区管理学

Journal of International Business Studies Pub Date : 2023-11-13 DOI: 10.1057/s41267-023-00658-3

Shea X. Fan, Fei Zhu, Margaret A. Shaffer

{"title":"Missed connections: A resource-management theory to combat loneliness experienced by globally mobile employees","authors":"Shea X. Fan, Fei Zhu, Margaret A. Shaffer","doi":"10.1057/s41267-023-00658-3","DOIUrl":"https://doi.org/10.1057/s41267-023-00658-3","url":null,"abstract":"All globally mobile employees (GMEs) share a common propensity to experience loneliness when they relocate to a new country where they have yet to establish social connections. To better understand how GMEs combat this feeling, we offer a conceptual process model grounded in conservation of resources (COR) theory to describe how they achieve social integration. The process begins with an assessment of GMEs’ desired versus perceived social relations, with most perceiving a relational deficiency or loneliness. This then triggers an audit of available social resources, which we differentiate in terms of source (personal vs. contextual) and stability (enduring vs. transient) to develop a typology of resources. Depending on the availability of resources, GMEs will follow one of three resource-management pathways to become socially integrated. Those who choose an expansion pathway will achieve what we refer to as deep-level (authentic) social integration and those who follow a protection pathway will attain surface-level (functional) social integration. The underutilization pathway is an interim route that may lead to either a resource-expansion or resource-protection pathway depending on changes in the availability of resources. Our iterative and recursive cyclical process model has implications for international management research, workplace loneliness studies, and COR theory.","PeriodicalId":48453,"journal":{"name":"Journal of International Business Studies","volume":"49 3","pages":""},"PeriodicalIF":11.6,"publicationDate":"2023-11-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91398753","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"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

Bilateral political tension and the signaling role of patenting in a host country 双边政治紧张和东道国专利的信号作用

1区管理学

Journal of International Business Studies Pub Date : 2023-11-02 DOI: 10.1057/s41267-023-00657-4

Nan Zhou, Jiatao Li, Jue Wang

{"title":"Bilateral political tension and the signaling role of patenting in a host country","authors":"Nan Zhou, Jiatao Li, Jue Wang","doi":"10.1057/s41267-023-00657-4","DOIUrl":"https://doi.org/10.1057/s41267-023-00657-4","url":null,"abstract":"Abstract The current increasing volatility in international politics makes it more important to understand how multinational enterprises respond to political tension between host and home countries. This paper explains the impact of macro-level bilateral political tension on micro-level strategy of multinationals in the host country. We developed the idea that patenting may be used to signal a firm’s commitment and contribution to the host country’s economy and development. Data on 437 large multinationals and interviews with senior managers of 20 foreign subsidiaries in China show that patenting local innovation does indeed help an investing firm signal its usefulness to the host country government. It can thus serve as a response to bilateral political tension. The relationship between political tension and local patenting also depends on the relative trade dependence of the home and host countries and on the investing firm’s technology level and its stake in China. The greater the dependence of an MNE and its home country government on the host country, the more likely patenting of local innovations would increase in times of bilateral political tension.","PeriodicalId":48453,"journal":{"name":"Journal of International Business Studies","volume":"71 2","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-11-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135934052","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"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

Institutional distance, slack resources, and foreign market entry 制度距离、资源松弛、国外市场进入

IF 11.6 1区管理学

Journal of International Business Studies Pub Date : 2023-10-25 DOI: 10.1057/s41267-023-00647-6

Róisín Donnelly, Saptarshi Purkayastha, Tatiana S. Manolova, Linda F. Edelman

{"title":"Institutional distance, slack resources, and foreign market entry","authors":"Róisín Donnelly, Saptarshi Purkayastha, Tatiana S. Manolova, Linda F. Edelman","doi":"10.1057/s41267-023-00647-6","DOIUrl":"https://doi.org/10.1057/s41267-023-00647-6","url":null,"abstract":"Traditional theories from the international business and strategy literatures have posited that institutional distance constrains firm internationalization and that slack financial and managerial resources can be redeployed to help overcome this distance and facilitate growth. However, are slack resources equally effective when entering host markets of different institutional quality? Combining an institutional economics’ view of distance with a Penrosean perspective on resources, we argue that financial slack allows firms “to pay their way” into more institutionally developed markets, whereas managerial slack allows firms “to work their way” into less institutionally developed markets. From data on the internationalization of 307 Indian computer software companies over 16 years, we find support for our hypotheses when considering formal institutional distance. We also find that managerial slack mitigates informal institutional distance, irrespective of the direction of internationalization. Additional robustness tests, using propensity score matching, and an alternative sample of 3600 manufacturing firms from 49 countries, support our main results. Our findings suggest that slack is not a generic panacea for overcoming institutional distance, in that the effectiveness of each type of slack is dependent on both the direction of entry and the type of institutional distance to be overcome, formal or informal.","PeriodicalId":48453,"journal":{"name":"Journal of International Business Studies","volume":"46 5","pages":""},"PeriodicalIF":11.6,"publicationDate":"2023-10-25","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"71416819","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"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

Disruptive knowledge in international business research: A pipe dream or attainable target? 国际商业研究中的颠覆性知识:白日梦还是可实现的目标?

1区管理学

Journal of International Business Studies Pub Date : 2023-10-21 DOI: 10.1057/s41267-023-00656-5

Rosalie L. Tung, Gary Knight, Pervez Ghauri, Shameen Prashantham, Tony Fang

引用次数: 1

A multilateral network perspective on inward FDI 从多边网络角度看外国直接投资

IF 11.6 1区管理学

Journal of International Business Studies Pub Date : 2023-10-21 DOI: 10.1057/s41267-023-00650-x

Soni Jha, Snehal Awate, Ram Mudambi

{"title":"A multilateral network perspective on inward FDI","authors":"Soni Jha, Snehal Awate, Ram Mudambi","doi":"10.1057/s41267-023-00650-x","DOIUrl":"https://doi.org/10.1057/s41267-023-00650-x","url":null,"abstract":"Foreign direct investment (FDI) remains a preferred mode for multinational enterprises to access international markets, resources, and technology. However, there are vigorous debates in the academic literature about the magnitude of inward FDI spillovers and their effect on the economic growth of host countries. In this paper, we argue that these empirical inconsistencies arise from the narrow “home-host” bilateral context in which inward FDI spillovers are analyzed. Further, we show that the inconsistencies can be resolved by adopting a broader, multilateral network perspective to estimate the effects of inward FDI. This perspective allows us to account for the differences in inward FDI spillovers from different investing countries and aggregate these to assess the overall impact of inward FDI. We use quantitative network-centric analysis to model the multilateral connectivity amongst nations engendered by inward FDI. Specifically, we use a panel data set of over 200 host countries spanning two decades to demonstrate that (a) the diversity of inward FDI measured by the number of investing countries and (b) the quality of inward FDI measured by the structural position of investing countries in the global inward FDI network is correlated with higher economic growth of host countries.","PeriodicalId":48453,"journal":{"name":"Journal of International Business Studies","volume":"18 6","pages":""},"PeriodicalIF":11.6,"publicationDate":"2023-10-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"50166989","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"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

The Big Con: how the consulting industry weakens our businesses, infantilizes our governments and warps our economies 大骗局:咨询业如何削弱我们的企业，使我们的政府幼稚化，扭曲我们的经济

1区管理学

Journal of International Business Studies Pub Date : 2023-10-10 DOI: 10.1057/s41267-023-00653-8

Mehdi Boussebaa

引用次数: 0

Sustainable international business model innovations for a globalizing circular economy: a review and synthesis, integrative framework, and opportunities for future research 面向全球化循环经济的可持续国际商业模式创新:综述与综合、整合框架与未来研究机遇

1区管理学

Journal of International Business Studies Pub Date : 2023-10-10 DOI: 10.1057/s41267-023-00652-9

Brian R. Chabowski, Peter Gabrielsson, G. Tomas M. Hult, Forrest V. Morgeson

{"title":"Sustainable international business model innovations for a globalizing circular economy: a review and synthesis, integrative framework, and opportunities for future research","authors":"Brian R. Chabowski, Peter Gabrielsson, G. Tomas M. Hult, Forrest V. Morgeson","doi":"10.1057/s41267-023-00652-9","DOIUrl":"https://doi.org/10.1057/s41267-023-00652-9","url":null,"abstract":"Abstract The global imperative has increased in recent years for international firms to respond to major threats such as unintended environmental, social, and economic problems arising from ecological destruction, population growth, and economic activity. To respond to this confluence that has created an emerging existential crisis, we identify that a globalizing circular economy (CE) is required and subsequently define a new construct: sustainable international business model innovations. In doing so, we introduce circular inputs, sharing platforms, product as a service, product use extension, and resource recovery as business models that contain the potential to reply to these grand challenges. Based on CE principles, the innovations and designs introduced are contrasted with the traditional linear economic model and are presented as actionable standardization/adaptation alternatives for companies responding to differing informal and formal international institutions. Based on the theoretical underpinnings of the resource-based, dynamic capabilities, and international business model innovation perspectives, we introduce an integrative framework that is accompanied by a series of detailed research questions to provide future research opportunities for the domain. This conceptual approach holds that international resource design influences marketing capabilities adaptation which, in turn, impacts international performance and offers a foundation from which to build the literature.","PeriodicalId":48453,"journal":{"name":"Journal of International Business Studies","volume":"17 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136353555","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"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