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Is the World Trade Organization attractive enough for emerging economies? : critical essays on the multilateral trading system
\"Do countries benefit from their Membership in the WTO? This book addresses this question and examines the role of the WTO in the process of economic development of emerging markets and other developing countries\"--Provided by publisher.
BOOK
Springboard MNEs under de-globalization
Competing in an era of de-globalization presents new challenges for multinationals, particularly for those from large emerging economies. Emerging market MNEs (EMNEs) in the past benefited from an open, globalizing context that facilitates springboard and compositional strategies. De-globalization makes it significantly harder for them to continue this journey. This study tackles the question of what it takes for EMNEs to execute compositional springboard strategies in the new era, making five points. First, de-globalization implies difficulties for EMNEs to acquire global open resources and needed strategic options. Second, uneven de-globalization has a differential impact on the ability of EMNEs from different countries and different sectors to execute springboard strategies. Third, varieties of capitalism represent an underestimated obstacle to compositional springboard strategies, both in general and in interaction with de-globalization. Fourth, EMNEs can consider a double-loop springboard – doubling down on inward internationalization and treating inward internationalization as a series of iterative, continuous, and transformative resource acquisition loops. Finally, springboard MNEs need to reconfigure their global posture strategies and bolster their critical capabilities in pursuit of sustained advantages in a de-globalization world.
Journal Article
Environmental, Social and Governance (ESG) Scores and Financial Performance of Multilatinas: Moderating Effects of Geographic International Diversification and Financial Slack
This paper examines whether a firm's financial performance (FP) is associated with superior environmental, social and governance (ESG) scores in emerging markets of multinationals in Latin America. The study addresses the current research gap on this issue; it develops hypotheses and tests them by applying linear regressions with a data panel drawn from the Thomson Reuters Eikon™ database to analyse data on 104 multinationals from Brazil, Chile, Colombia, Mexico and Peru between 2011 and 2015. The results suggest that the relationship between the ESG score and FP is significantly statistically negative. Furthermore, in examining environmental, social and governance separately to accurately determine each variable's relationship to multilatinas' FP, the results reveal a negative relationship. Finally, the empirical analysis provides evidence for a moderating effect of financial slack and geographic international diversification on the relationship between ESG dimensions and firms' FP. This study furthers understanding of the relationship between ESG dimensions and FP for the Latin American business context.
Journal Article
Springboard internationalization by emerging market firms
According to the springboard perspective, emerging market multinationals seek strategic assets aggressively from the outset. In this paper, we investigate the role of firms’ institutional embeddedness in terms of age and affiliation to business group on their aggressive internationalization pursuits, an issue which has remained less explored in international business scholarship. This study, based on 8163 Indian listed firms over 18 years, identifies a trend that younger firms founded in the liberalized era, post 1991, and unaffiliated firms are more likely to pursue aggressive internationalization by conducting their first cross-border acquisition (CBA) faster. Among affiliated firms, younger ones are relatively faster in conducting their first CBA. Furthermore, the evidence signals a moderating impact of inter-group heterogeneity in terms of group-level assets and foreign investments on the relationship between firm age and aggressive internationalization.
Journal Article
Walking the walk or talking the talk? Corporate social responsibility decoupling in emerging market multinationals
Research shows that emerging market multinational enterprises (EM-MNEs) increasingly use corporate social responsibility (CSR) reporting as a global legitimation strategy. Less is known about when their CSR reporting is decoupled from their CSR performance. Drawing on neo-institutional theory, we argue that EM-MNEs’ CSR decoupling is shaped by their dual embeddedness in their home countries and the global institutional environment. We then examine how EM-MNEs’ home country institutional voids and degree of internationalization affect their tendency to engage in such decoupling. Our model receives partial support in a study of 93 MNEs from 15 emerging markets between 2005 and 2012.
Journal Article
Digital transformation in financial services provision: a Nigerian perspective to the adoption of chatbot
Purpose
Recognising the high numbers of unbanked and financially excluded adults in Nigeria, this study aims to position chatbot as a digital transformation tool to radically change business model, improve customer experience and enhance financial inclusion in emerging markets.
Design/methodology/approach
The Search-Access-Test (S-A-T) model was adopted to understand how Nigerian banks are adopting chatbots.
Findings
A majority of Nigerian banks now have chatbots that enhance customer engagement and financial inclusion. WhatsApp was the most frequently used platform. Chatbots were often branded and presented with female gender identification. The chatbots were less responsive beyond their predefined path. While Nigeria is a multilingual country with English being the original language, none of the chatbots used any of the Nigerian’s local languages.
Practical implications
Brands need to re-evaluate their chatbots with regard to responsiveness, predefined questions, verification and privacy. There are also possibilities of branding the chatbot and developing content creation strategies for proper engagement. Beyond English, the integration of African languages into chatbot is essential for digital transformation. Digital literacy and skills, particularly in the field of science, technology, engineering and mathematics, should be supported to equip future developers and create more jobs.
Originality/value
While many theoretically based models for investigating the adoption of digital technologies have often placed focus on users’ ability to engage, this study takes an alternative perspective; by using the S-A-T model, it lays the responsibilities on the banks and chatbot developer to ensure that their chatbots are secure, responsive and able to meet the needs of the customers.
Journal Article
International Expansion of Emerging Market Enterprises: A Springboard Perspective
In this article, we present a springboard perspective to describe the internationalization of emerging market multinational corporations (EM MNEs). EM MNEs use international expansion as a springboard to acquire strategic resources and reduce their institutional and market constraints at home. In so doing, they overcome their latecomer disadvantage in the global stage via a series of aggressive, risk-taking measures by aggressively acquiring or buying critical assets from mature MNEs to compensate for their competitive weaknesses. We discuss unique traits that characterize the international expansion of EM MNEs, and the unique motivations that steer them toward internationalization. We further delineate peculiar strategies and activities undertaken by these firms in pursuit of international expansion, as well as internal and external forces that might compel or facilitate their propulsion into the global scene. We finally explain the risks and remedies associated with this international 'springboarding' strategy and highlight major issues meriting further investigation.
Journal Article
Home country supportiveness/unfavorableness and outward foreign direct investment from China
What drives the outward foreign direct investments (OFDIs) by emerging market firms (EMFs)? Drawing on a strategy tripod framework, this article proposes a theoretical model to predict OFDI by EMFs from China. Specifically, we use institution- and industry-based views to examine two facets of home country environment, namely, the supportiveness from home government and unfavorableness from home industry, as important determinants of OFDI, and compare the relative strength of these effects. Further, we use the resourcebased view to argue that the effect of the home country environment is contingent on the international experience portfolios of EMFs.
Journal Article
A geographic relational perspective on the internationalization of emerging market firms
The growth of outward foreign direct investment from emerging markets has led to increased scholarly attention on the internationalization of emerging market firms (EMFs). We break from the recent strategic approach on internationalizing EMFs to develop a problematization approach, which permits us to introduce a geographic relational perspective. We use this perspective to highlight process thinking, complex social realities, and relational practice as means by which to better develop theory on the internationalization of EMFs. Our emergent approach emphasizes the need to view EMF internationalization as deeply situated in multifaceted contextual influences, as influenced by path dependence and as manifested in practice. These three relational tenets (contextuality, path dependence, and practice) are central to our geographic relational approach’s ability to generate new challenging research questions for understanding EMF internationalization. Consequently, we add novelty to the international business domain by bringing space and process to the forefront of the EMF research agenda.
Journal Article