Explore the vast range of titles available.

In the wake of the North Atlantic Financial Crisis, the IMF's Institutional View noticeably shifted toward a much greater acceptance of capital flow management measures to regulate international capital flows. This raises a host of issues-most importantly, whether its new policy stance is finally consistent with the needs developing economies have for ensuring financial stability. That is the topic examined in this article. To do so, we compare the substance and results of a Minsky-Kregel model of international financial fragility to that of the IMF's \"New\" Institutional View. We find that while the IMF has come a long way in its recognition of the efficacy of capital flow management measures, there still remains an even further way to go.

PurposeIn recent years, sustainable supply chain practices (SSCPs), including corporate social responsibility (CSR), have been recognised as important means of developing firms’ sustainability performance (SP). However, empirical findings on the SSCP–SP interaction are inconsistent and even contradictory. This research presents a quantitative meta-analysis that aims to uncover SSCP–SP interactions based on the correlations found in previously published empirical studies.Design/methodology/approachBased on the main and moderating variables and selection criteria, 64 sample studies were selected after a systematic literature review and meta-analysis.FindingsThe findings confirm a positive correlation (0.438) between SSCP and SP. The results also reveal various critical moderators identified through meta-regression.Practical implicationsThis study provides insights for operations managers and policymakers regarding the significance of control variables (e.g. ISO certification, type of economy, innovation approach, data collection method) on the relationship between SSCP and SP for business operations. This research uncovers the impacts of ISO regulations and proposed hypotheses through the lens of the natural resource-based view (NRBV) and institutional-based view (IBV).Originality/valueThis research is unique in that it provides a systematic view of the SSCP–SP interaction, validates the results through a theoretical lens (NRBV and IBV) and generalises the results by evaluating the moderation effects via checking prior literature.

Large firms have been spearheading the “go-green” phenomenon around the globe. Their “beyond compliance” approach to environmental management interests policymakers and researchers alike. This study analyzes the institutional and resource-based view to study the factors determining voluntary environmental management in large-listed Indian firms. We build a unique dataset of 459 firms from twenty industries over an eleven-year period from 2008–09 to 2018–19. Empirical results suggest that firms prone to institutional pressures are making voluntary environmental disclosures through sustainability reporting and participation in Carbon Disclosure Project (CDP). Capability-rich firms are investing in green buildings with additional environmental outlays. Furthermore, ISO 14001 accreditation is a function of internalization of stakeholders’ concerns in the business strategy through the development of conducive capabilities. Finally, though there is a considerable variation in the number and choice of environmental practices adopted by a firm, institutional pressures and capabilities are interrelated to a higher degree than previously conceived.

This study examines the growth and performance impact of technological capability (TC) in China. The authors posit that foreign and local firms exhibit different TC growth patterns and that TC has differential performance effects for these two types of firms. From a multilevel analysis of five-year panel data of 448 technology-oriented firms, they find that, in general, foreign firms possess higher levels of TC, whereas local firms can develop their TC faster than foreign firms. Furthermore, compared with foreign firms, local firms experience a stronger performance return from their TC; however, foreign firms have a higher growth rate in the contribution of TC to their performance over time. Moreover, firms can develop TC faster in regions with better intellectual property protection, and TC exerts a stronger effect on performance when industrial uncertainty is higher.

We analyze recent theoretical advances in the area of capital flow management and compare them with the IMF’s policy frameworks in the area, as laid out in the IMF’s Institutional View and related documents. Although the Institutional View represented an important leap forward, we discuss several tensions with the academic literature. We also emphasize the important role that the IMF guidance could play in building a better set of policy instruments to deal with volatile capital flows. More broadly, individual countries need sufficient policy space to pursue their individual welfare objectives. Finally, we propose how to strengthen the IMF’s analytical framework for international spillovers.

PurposeThe authors seek to advance the understanding of small- and medium-sized enterprise (SME) internationalization at the regional level and examine the role of home market institutions in this process.Design/methodology/approachThe authors analyze hypotheses with data from SMEs in five country markets and from the Global Entrepreneurship Monitor. A cluster analysis establishes the regional diversification patterns (based on regional diversification scope, speed and rhythm) and a multinomial regression tests the effect of home market institutions on their adoption.FindingsThe results offer a refined picture of SME regional diversification by revealing three patterns: intra-regionally focused firms, late inter-region diversifiers and early inter-region diversifiers. They also suggest that the adoption of these patterns is determined by SMEs' home market institutions.Originality/valueThe authors develop a nuanced understanding of SME internationalization by building upon and expanding the regionalization rationale in the internationalization patterns literature. Additionally, the authors address the acknowledged, yet rarely investigated, country-level determinants of internationalization patterns.

Test for mediating effect is an important method in social science research. In this paper, we applied mediating effect test in corporate acquisition research. Acquisition is one of the most important ways to expand a company, especially in emerging markets. From the perspective of institutional view, we made an empirical research on the relationship between geographic and institutional factors and the acquisition performance based on a sample of acquisitions in China. We found that acquisition legitimacy based on different region, including external and internal legitimacy, has positive effect on acquisition performance. We conclude that cross-region acquisition has negative influence on external legitimacy of acquisition, while having no significant influence on internal legitimacy of acquisition.

Export activities have become crucial to firms’ competitiveness, with determinants of export performance being a challenging field of research, since there is no consensus regarding the explained and explanatory variables or on the econometric methods to be used. Using a panel data of Portuguese wine firms, this paper aims to contribute to this debate, combining both resource- and institutional-based views of the firm. This paper tries to overcome the methodological hurdle, addressing sample selection issues and considering the fractional response nature of export performance. Given the pros and cons of each econometric approach, the Heckman selection model, the fractional probit model and the two-part fractional response model are estimated, and the results compared. From a public policy perspective, the results show that policies that promote wine firm size, labor productivity and wine promotion in third countries have a positive impact on export performance at firm-level. Age does not appear as a key factor on the internationalization of Portuguese wine firms.