In the global economy, the international strategies of family firms, influenced by family ownership and management, remain underexplored. Bridging the family business and international business fields, we use the socioemotional wealth lens to examine 1,236 international expansions from 2007 to 2013. Categorizing firms into pure family, nearly pure family, borderline family, and non-family typologies, we assess the influence of internal (experience, knowledge) and external (country risk) factors on their entry modes. Results indicate that higher family involvement in ownership/management increases the preference for greenfield investments over acquisitions or equity alliances, a relationship further moderated by international experience and country risk. This study provides nuanced insights into the international behaviors of family firms.

Grounded in the organizational legitimacy perspective, this study examines the influence of formal institutional distance (FID) on the entry mode choice of Japanese cross-border acquirers. By disaggregating the FID variable using the Worldwide Governance Indicators, we provide a nuanced understanding of the relationship between FID dimensions and acquisition behavior. We find that out of the six disaggregated FID measures, three dimensions significantly impact acquisition decisions. Specifically, FID related to ‘regulatory quality’ and ‘control of corruption’ negatively affects the likelihood of full acquisitions, while FID related to the ‘rule of law’ positively influences full acquisitions. Our findings challenge the use of aggregated measures and highlight the importance of considering institutional variations. Japanese acquirers demonstrate a preference for higher control in uncertain legal environments. This study contributes to the literature by offering insights into the specific FID dimensions that drive the choice between partial and full acquisitions for Japanese firms.

The Indian pharmaceutical industry has experienced rapid growth, becoming the world's largest provider of generic drugs, based on product and process innovation. The industry has undergone dynamic changes in recent decades, operating in a rapidly evolving environment affected by domestic and global policies; a key example of the latter is the TRIPS agreement. Taking an intellectual property perspective, we describe how changes in the innovation ecosystem have affected companies’ strategies related to international activity and accessing knowledge from both internal and external knowledge sources, during the transitional- and post-TRIPS periods (1995–2004 and 2005–2014, respectively). Combining intellectual property arguments with contextual aspects of the innovation ecosystem, we conjecture that, in the post-TRIPS period, externally-sourced knowledge will be more important than internally-sourced knowledge, for Indian pharmaceutical firms’ international business activity.

Africa is an increasingly important business context, yet we still know little about it. We review the challenges and opportunities that firms in Africa face and propose that these can serve as the basis for extending current theories and models of the firm. We do so by challenging some of the implicit assumptions and stereotypes on firms in Africa and by proposing three avenues for extending theories. One is taking the extreme conditions of some Africa countries and using them as a laboratory for modifying current theories and models of the firm, as we illustrate in the case of institutional theory and the resource-based view. A second one is identifying new themes that arise from analyzing firms in Africa and their contexts of operation, and we discuss four themes: migrating multinationals and the meaning of home country, diaspora networks within and across countries, a recasting of cultural and institutional distance, and new hybrid organizational forms. A third one is developing new theories based on alternative paradigms of social relationships that have emerged in Africa that differ from those underpinning existing theories of the firm, such as kgotla and its view of community-based relationships or ubuntu and its humanizing view of relationships.

During the first global economy, roughly from Western industrialization to World War I, the gramophone, much like other consumer goods, circulated relatively freely around the world. This paper compares the market in India and China asking how gramophone companies established themselves there and focuses on the interaction between Western businesspeople and local partners. The article first shows how agents started exploring strategies for “localizing” music and, second, how in both countries their interaction with local partners was first shaped by curiosity and commercial interest, and later by traditionalism and nationalism, the latter of which paradoxically both inhibited and enabled Western business. Based on diaries, corporate files, trade journals, and consular reports, the paper shows that the highly localized and politicized demand for music made access to local knowledge a crucial competitive advantage.

To ascertain whether youth bulges are related to violent conflict and whether violent conflict falls off when youth bulges are followed by busts, we analyzed data from 1998–2005 covering 127 nations. Controlling for variables representing such factors as socio-development, macroeconomics, technology advancement, government capacity, and geo-politics, we find that youth bulges are related to violent conflict, but when youth bulges are followed by busts violent conflict grows rather than diminishes contrary to the prediction we make. From this analysis, we draw implications for further research and analysis with regard to doing business in violence-prone nations.

We undertake a critical literature review to facilitate academic dialogs regarding decisions under uncertainty in international business settings and highlight the growing focus on international investments as conveyers of real options. Our literature review (1) provides a systematic overview of uncertainty types considered in this literature, real options identified as particular to international investments, and valuation approaches used and (2) highlights key methodological approaches used for testing real options models applied to international investments, and the controversies in this regard. This study draws on the above to shed light on important avenues for future research including (a) the need for more fine-grained and diverse measures of uncertainty in the international context, (b) an emphasis on clarifying the value effects of combinations of real options, and (c) the necessity of further consideration of the costs of options along with the value.

This study examines the role of human resources in strategy formulation processes in China's emerging market. Employing a qualitative data driven thematic analysis, we present evidence collected from six comparative case sites of Spanish firms in China. Our findings suggest that high performing firms use a dynamic adaptive logic while lower performing firms use a static structural logic. A dynamic adaptive model of strategic human resource management is identified, emphasizing a fluid and informal process between strategy, human resources and international management.

The concept of psychic distance has had a long but problematic history in the academic study of international business. Although inherently appealing, attempts to empirically validate the theoretical frameworks proposed by early psychic distance scholars have provided mixed results. This has led a number of academics to question the usefulness of the concept. Theoretical advances have been made in recent times with the introduction of revised definitions, but there is still the need for a conceptual framework of psychic distance that unambiguously identifies the determinants of psychic distance and demonstrates the relevance of this concept at the national, firm, and individual level. The present paper proposes a revised definition of psychic distance and posits a conceptual framework of psychic distance that addresses these needs. It then concludes by putting forward a research agenda arising as a consequence of the new conceptual framework.