International Business Review最新文献

{"title":"Unpacking global digital competence in the contemporary international venture","authors":"Fernanda Cahen ,&nbsp;Felipe Borini ,&nbsp;Charles Dhanaraj ,&nbsp;Rafael Morais","doi":"10.1016/j.ibusrev.2025.102414","DOIUrl":"10.1016/j.ibusrev.2025.102414","url":null,"abstract":"<div><div>What do digital ventures need to expand globally? To address this question, we investigate the intersection of capability development in new venture internationalization and the role of digitalization in creating and exploiting these capabilities. Drawing on the capability lens and earlier findings in international entrepreneurship (IE) research, we introduce the concept of <em>global digital competence</em> (GDC). We define it as a measure of a digital venture’s ability to enter and succeed in international markets. It is operationalized as a multidimensional construct, encompassing <em>global sensing, business model dexterity, business connectivity,</em> and <em>technology platform connectivity</em>. Using mixed-method research, we develop, refine, and validate a measurement scale for GDC with qualitative case studies and a quantitative survey. We discuss how the GDC scale can support robust empirical investigations into the global evolution of digital ventures and outline key implications for theory, practice, and policy.</div></div>","PeriodicalId":51352,"journal":{"name":"International Business Review","volume":"34 4","pages":"Article 102414"},"PeriodicalIF":5.9,"publicationDate":"2025-02-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144239868","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}

{"title":"Valuing ESG: How financial markets respond to corporate sustainability","authors":"Le Chau ,&nbsp;Le Anh ,&nbsp;Vo Duc","doi":"10.1016/j.ibusrev.2025.102418","DOIUrl":"10.1016/j.ibusrev.2025.102418","url":null,"abstract":"<div><div>This study explores how financial markets value corporate sustainability, using a comprehensive dataset of the largest publicly listed firms across 12 countries. Diverging from prior research that assumes a linear or quadratic relationship between ESG performance and firm value, we uncover a cubic response function, characterised by a horizontal-S-shaped effect. Firm value initially increases with ESG ratings up to a critical threshold, then declines as firms face rising costs and diminishing returns, before rising again once ESG ratings exceed a second threshold. We attribute this nonlinear dynamic to two key mechanisms: growth options and stakeholder influence capacity, which interact at different stages of ESG performance. Furthermore, our analysis highlights the moderating role of country-level institutional quality and environmental sustainability, demonstrating that national contexts significantly shape market responses to ESG ratings. By leveraging the Gaussian Copula approach to address endogeneity concerns, we ensure robust and reliable findings. This study advances the international business literature by offering a theoretical framework to explain cross-country variations in how financial markets price sustainability-linked assets. Our findings underscore the critical role of institutional factors in shaping investor sentiment and corporate strategies in a sustainability-focus global economy. These insights are invaluable for investors, policymakers, and corporate leaders navigating the evolving landscape of ESG-driven finance.</div></div>","PeriodicalId":51352,"journal":{"name":"International Business Review","volume":"34 3","pages":"Article 102418"},"PeriodicalIF":5.9,"publicationDate":"2025-02-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143579127","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Internationalization and escapism: Government support as a pullback force for small and large enterprises","authors":"Ebru Ozturk-Kose ,&nbsp;Dimitrios Tsagdis ,&nbsp;Alfredo Jiménez","doi":"10.1016/j.ibusrev.2025.102416","DOIUrl":"10.1016/j.ibusrev.2025.102416","url":null,"abstract":"<div><div>We examine the effects of the interplay between home institutional constraints and government support policies, on the export intensity of small and large enterprises in emerging and developing economies. We consider three different kinds of government support policies: contracts, subsidies, and credits-and-loans (CSLs). We argue that CSLs can act as pullback forces to the escapist forces that push firms to internationalize. Drawing on Tobit regressions and a sample of 1544 firms in Eastern Europe, the Caucasus, and Central Asia, our findings show that CSLs act as pullback forces, with smaller firms being more susceptible.</div></div>","PeriodicalId":51352,"journal":{"name":"International Business Review","volume":"34 3","pages":"Article 102416"},"PeriodicalIF":5.9,"publicationDate":"2025-02-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143579139","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}

{"title":"Political affinity and opportunism in global supply chain: The mediating role of contractual and relational governance","authors":"Zhiwen Fan ,&nbsp;Tao Wang ,&nbsp;Zhongyi Han ,&nbsp;Yu Jia","doi":"10.1016/j.ibusrev.2025.102415","DOIUrl":"10.1016/j.ibusrev.2025.102415","url":null,"abstract":"<div><div>The dynamic international relations reflect a world that global supply chains are challenged by the political environment in which they are embedded, especially for emerging market firms (EMFs). Drawing on legitimacy-based view and supply chain management literature, this study investigated how political affinity between home and host country affect the use of governance in deterring opportunism of local distributors in the host market, as well as the moderating role of directionality of institutional distance. Using a survey dataset of 403 Chinese export firms at two time points and two secondary datasets, we find that political affinity increases the opportunistic behavior of local distributors by impeding contractual governance and facilitating relational governance. In addition, the effect of political affinity on governance strategies is conditional on the directionality of institutional distance. That is, negative institutional distance strengthens the impact of political affinity on contractual governance, while the influence of political affinity on relational governance is attenuated in the presence of positive or negative institutional distance. Our findings provide important insights for academic research and managerial practice.</div></div>","PeriodicalId":51352,"journal":{"name":"International Business Review","volume":"34 3","pages":"Article 102415"},"PeriodicalIF":5.9,"publicationDate":"2025-02-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143579140","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}

{"title":"Technology-seeking FDI policy change and local firm innovation","authors":"Pei Wang ,&nbsp;Ziliang Deng ,&nbsp;Zhan Wu ,&nbsp;Vikas Kumar","doi":"10.1016/j.ibusrev.2025.102411","DOIUrl":"10.1016/j.ibusrev.2025.102411","url":null,"abstract":"<div><div>Many emerging market governments have increased technological entry thresholds for foreign newcomers to promote technology transfer to local firms. Although such a policy change intensifies the threat from new foreign entrants in the long run, it protects local firms from intensive competition in the short run. Thus, whether local firms in the same industries will respond to such a policy change with more technological efforts remains to be discovered. We hypothesize that local firms in affected industries will refrain from upward momentum in innovation activities to some extent compared with local firms in industries without such a policy change. We also hypothesize that local firms in more robust resource and market positions will be influenced to a lower degree. Difference-in-difference modeling based on large panel datasets in China supports these hypotheses. This study provides novel insights into the international business literature by identifying that foreign-entry policy shifts may cause indirect effects on the innovation of local firms.</div></div>","PeriodicalId":51352,"journal":{"name":"International Business Review","volume":"34 3","pages":"Article 102411"},"PeriodicalIF":5.9,"publicationDate":"2025-02-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143579141","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}

{"title":"Returnee entrepreneurs’ international experience: Effects on entrepreneurial orientation and speed of internationalization","authors":"Xinrui Liu ,&nbsp;Michael Mayer ,&nbsp;Dimo Dimov","doi":"10.1016/j.ibusrev.2025.102402","DOIUrl":"10.1016/j.ibusrev.2025.102402","url":null,"abstract":"<div><div>Despite the importance of returnee entrepreneurs’ prior international experience, its conceptualization and effect on firm outcomes remain unclear. We propose a new framework for understanding prior international experience, consisting of three components: length of time, cultural distance, and cultural specificity, along with their interactions. Our study examines how returnees' international experience impacts firms' entrepreneurial orientation (EO) and speed of internationalization. Using data from 216 Chinese internationalizing SMEs, we find that prior international experience positively influences the speed of internationalization, both directly and indirectly through EO. Cultural distance between the experienced host country and the returnee's home country, and that between the experienced host country and the firm’s internationalizing country, moderate these relationships. The cultural distance to the returnee’s home country seems to be an asset, whereas that to the firm’s internationalizing country seems to be a liability. We discuss theoretical and managerial implications for international experience conceptualization and returnee entrepreneurship.</div></div>","PeriodicalId":51352,"journal":{"name":"International Business Review","volume":"34 4","pages":"Article 102402"},"PeriodicalIF":5.9,"publicationDate":"2025-02-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"144239870","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}

{"title":"Leadership development in the cross-cultural context of China: Who really cares?","authors":"Daniel Agerbech Petersen,&nbsp;Keith Goodall","doi":"10.1016/j.ibusrev.2025.102400","DOIUrl":"10.1016/j.ibusrev.2025.102400","url":null,"abstract":"<div><div>We address the challenges of developing Chinese leaders in multinational companies (MNCs) from the perspective of the leaders themselves. We focus on the consequences of perceptual differences across cultures. Based on interviews with Chinese high-potential managers (HPMs), we find that differing perceptions of care and leadership impact the perceived quality of global talent management (GTM) and work practices. We conclude that from a Chinese perspective western MNCs are relatively effective in human capital and leader development, but weaker in terms of attention to social capital and leader<em>ship</em>. We make recommendations for how Chinese managers in MNCs might be more effectively developed into global leadership roles.</div></div>","PeriodicalId":51352,"journal":{"name":"International Business Review","volume":"34 3","pages":"Article 102400"},"PeriodicalIF":5.9,"publicationDate":"2025-02-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"143579129","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

{"title":"Dodging expropriation? The role of cash holdings as a firm-level driver of risky FDI location choices","authors":"Timothy King ,&nbsp;Tiago Loncan ,&nbsp;Zaheer Khan","doi":"10.1016/j.ibusrev.2025.102404","DOIUrl":"10.1016/j.ibusrev.2025.102404","url":null,"abstract":"<div><div>Despite the higher expropriation risks associated with investing in corrupt countries, many multinational enterprises (MNEs) still choose to do so. The motivations for investing in such countries remain unclear. Using rich data on 3500 outward foreign direct investment (FDI) projects undertaken by U.S. manufacturing MNEs, we find that cash-rich firms are significantly less likely to locate FDI activities in more corrupt countries. We show that this effect is most pronounced in firms with stronger governance and monitoring regimes. Overall, our findings, which are robust to a battery of tests and treatment of a potential endogenous determination of cash holdings and FDI location decisions, suggest that liquidity influences firms’ perceived expropriation risk, with cash-rich firms optimally sheltering their FDI activities from more corrupt countries when expected expropriation costs outweigh the economic gains that can be easily exploited through FDI. These findings have important implications for research, practice, and policy regarding the FDI location decisions of MNEs.</div></div>","PeriodicalId":51352,"journal":{"name":"International Business Review","volume":"34 6","pages":"Article 102404"},"PeriodicalIF":6.1,"publicationDate":"2025-02-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145026656","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}

{"title":"Ownership choices of emerging market micromultinationals (mMNEs) under uncertainty: A real option approach","authors":"Panagiotis Kyriakopoulos ,&nbsp;Rose Narooz ,&nbsp;Junzhe Ji","doi":"10.1016/j.ibusrev.2025.102403","DOIUrl":"10.1016/j.ibusrev.2025.102403","url":null,"abstract":"<div><div>We use a real option lens to investigate how emerging market micromultinationals (mMNEs) employ foreign operation modes to address different sources of external uncertainty. Drawing from 564 mMNEs from 22 emerging markets, we firstly examine the mMNEs’ choice between high commitment operation mode (wholly owned subsidiary) and low commitment operation mode (international joint venture) in response to both economic and political uncertainty in host countries. We further investigate three enablers of strategic flexibility (multinationality, industry type and foreign investment experience) and their moderating role in the relationship between mMNE ownership choices and external uncertainties. Our results show that emerging market mMNEs choose low commitment foreign operation modes in response to economic uncertainty rather than political uncertainty when making their operation mode choice, and both multinationality and industry type moderate the economic uncertainty-operation mode relationship.</div></div>","PeriodicalId":51352,"journal":{"name":"International Business Review","volume":"34 6","pages":"Article 102403"},"PeriodicalIF":6.1,"publicationDate":"2025-02-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145026653","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}

{"title":"Does deglobalization imply the end of global supply chains?","authors":"Enver Yücesan","doi":"10.1016/j.ibusrev.2025.102398","DOIUrl":"10.1016/j.ibusrev.2025.102398","url":null,"abstract":"<div><div>Deglobalization, the process through which economic agents are increasingly severing their international economic links and relocating economic activity toward their domestic economies, has been affecting supply chains spanning the globe. In the face of major economic and political challenges, companies have always been redesigning their networks through which inputs are sourced, products are manufactured, and customer demand is satisfied. While the literature has addressed the traditional complexities arising from market volatility, cost differentials and emerging technologies, further guidance is needed on the impact of government policies for companies operating on a global scale. It is therefore necessary to identify the forces that drive deglobalization and understand how they shape the evolution of global supply chains. Anchored on the global value chain framework from macroeconomics, political science, international business, and operations management, we construct and validate systems dynamics models to assess the evolution of global supply chains where decisions taken at the macro and strategic levels would act as constraints or enablers at the tactical level. We observe that, independent from any other forces, the landed cost advantage, which was the principal driver of offshoring decisions, gets eroded over time through both higher competition and convergence of wages. Moreover, as competition shifts towards higher responsiveness, offshored facilities find themselves at a greater disadvantage. Political pressure in terms of tariffs and sanctions as well as management control in terms of ownership restrictions and the challenges in enforcing the rule of law reduce the attractiveness of offshoring. The rate at which offshoring decisions are reversed, however, depends on the complexity of both the manufacturing asset and the sophistication of the local ecosystem. Finally, political pressure does not necessarily lead to reshoring; nearshoring, the transfer of manufacturing facilities to a territory closer to the final market, emerges as a viable alternative. In short, these findings signal a slow transition from global to regional supply chains. As a result, supply chain professionals and policy makers are urged to adopt a broader perspective that incorporates the impact of operational, strategic, and geo-political parameters on the entire supply network in their decision or policy making processes. Going forward, emerging technologies and sustainability considerations will continue setting the boundary conditions within which global supply chains will continue to evolve.</div></div>","PeriodicalId":51352,"journal":{"name":"International Business Review","volume":"34 6","pages":"Article 102398"},"PeriodicalIF":6.1,"publicationDate":"2025-01-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"145026657","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}