Call for papers. Special issues. How Does a Multinational Company’s Home Country Matter?

Journal of World Business

A Special Issue on

How Does a Multinational Company’s Home Country Matter?

Submissions open January 1-31, 2017

Special Issue Editors:

• Alvaro Cuervo-Cazurra, Northeastern University
• Yadong Luo, University of Miami
• Ravi Ramamurti, Northeastern University

Supervising Editor:

• Siah Hwee Ang, Victoria University of Wellington

Objective of the Special Issue:

“The multinationalizing trend (is) widely recognized as similar in nature irrespective of the nationality of the parent company” – Raymond Vernon (quoted in Wilkins 1986: 202)
Vernon’s quote above presents an interesting hypothesis that is worthy of deeper examination. Does the home country of a multinational company (MNC) not matter much, as he asserts, or does it, and if so how? That is the main question explored in this special issue of the Journal of World Business.
The rise of new multinationals from emerging markets serves as a valuable natural experiment for probing the impact of a firm’s home country on its international strategy and behavior (Ramamurti, 2009). By 2015, emerging market multinational companies (EMNCs) accounted for one-quarter of world outward foreign direct investment (FDI) flows and one-fifth of the largest firms in the Fortune Global 2000. This growth led to a surge in academic interest in these firms, including special issues and volumes dedicated to their analysis (e.g. Aulakh, 2007; Cuervo-Cazurra, 2012; Cuervo-Cazurra & Ramamurti, 2014; Gammeltoft, Barnard & Madhok, 2010; Luo & Tung, 2007; Ramamurti & Singh, 2009; Williamson et al., 2013). However, there has also been a growing debate on the value of studying them as a distinct type of MNC (see Aharoni, 2014; Cuervo-Cazurra, 2012; Dunning, Kim & Park, 2008; Godley, 2014; Ramamurti, 2012; Rugman, 2010). Part of the debate and associated confusion emerges from the flawed comparison that some of the analyses make, particularly in disentangling the impact of a multinational’s home country from that of other variables. Some unique features of these firms may be not so much associated with their home country but rather with their industry of operation, stage of internationalization, ownership structure, and international experience (Ramamurti, 2012). An appropriate comparison of EMNCs with firms from other countries, such as advanced country multinational companies (AMNCs), may reveal which features of EMNCs are truly unique because of the country they come from and which are common to all MNCs regardless of their home country.

Many of the current MNC theories have paid limited attention to an MNC’s home country. Location has received relatively less attention than other firm characteristics (Dunning, 1998). Even those studies that tackle location explicitly have tended to focus on how characteristics of the host country affect the expansion of foreign firms, such as the host country’s level of development, its institutional and political system, or its economic size and degree of economic openness (e.g., Barkema, Bell & Penning, 1996; Chung & Beamish, 2005; Delios & Henisz, 2003; Meyer et al., 2013). Other studies have examined how the “distance” between the home and host country affects the international expansion of companies (e.g., Johanson & Vahlne, 1977; Ghemawat, 2001; Luo & Shenkar, 2011). More recently, a few studies have started paying attention to the impact of home country characteristics on a firm’s innovations and foreign expansion (e.g., Cuervo-Cazurra, 2006; Cuervo-Cazurra & Genc, 2008; del Sol & Kogan, 2007; Garcia-Canal & Guillen, 2008; Govindarajan & Ramamurti, 2011; Holburn & Zelner, 2010; Hoskisson et al., 2013; Luo & Wang, 2012).

In this special issue we propose to go beyond these studies and expand theories and models of the multinational by explaining how the home country affects the internationalization of the firm. This includes not only analyses of EMNCs, but also studies of AMNCs as well as comparisons of the behavior of EMNCs and AMNCs. Studies of EMNCs are a natural laboratory for extending existing models of the multinational because these have been built implicitly on the experience of AMNCs. Hence, studies that focus on EMNCs can provide new insights because their variation in home country characteristics and lower levels of economic, social, and political development facilitate the identification of mechanisms and a comparison of differences with current models. Moreover, home country tends to be more important to EMNCs than to incumbent AMNCs, providing another base for understanding how the home country affects internationalization. Studies of AMNCs can provide useful insights as long as they focus on advancing our theoretical understanding of the role of home country on internationalization. Comparative studies of companies from multiple home countries are particularly welcome if they tease out the role of the home country on internationalization. Single-country studies that pay particular attention to the mechanisms by which the home country affects a firm’s internationalization are also welcome. We welcome papers using diverse methodologies, including theoretical essays, large-sample analyses, and qualitative studies, as long as they provide a clear and detailed explanation of theoretical mechanisms and a strong theoretical contribution.

The objective of the special issue is to develop a better understanding of the theoretical mechanisms that explain how the home country influences the internationalization of the firm. The following topics are meant to illustrate the range of submissions rather than limit the ideas; authors are welcome to contact the guest editors to discuss the appropriateness of other topics related to theme of this Special Issue:

• 1. How do companies coming from countries at different levels of economic or political development differ in their global strategies? How do early globalizers from emerging countries differ from late globalizers as their home country conditions have changed quickly over time? How does the change in the home country (economic growth, pro-market reforms, pro-market reversals, political change, etc.) affect the global expansion of firms?
• 2. How do the home country and its relationships with particular host countries affect the international expansion of firms? How do changes in relationships among home and host countries (economic integration, political conflict, increased immigration, etc.) alter firm internationalization? 
• 3. How does the level of development of the country affect the innovativeness and types of innovations that firms create and use in their global expansion? How do innovations for the base of the pyramid in the home country become global innovations? What adaptations are made to these to use abroad and how are they transferred?
• 4. What can one learn from EMNCs about the process by which firms become multinationals? How does this process vary across different home countries, and how does it compare with the process by which earlier generations of MNCs emerged out of Japan, South Korea, the United States, or Western Europe?
• 5. How do firms develop resources and capabilities to deal with the particular economic, geographic, political and social conditions of their home countries and use these abroad? How are these resources and capabilities transferred and adapted to other countries? How do EMNCs adapt and modify their strategies developed in the home country to address differing conditions of countries that are more or less developed than their home country?
• 6. What is the role of the government in the international expansion of firms? Under what conditions does it facilitate internationalization? Under which conditions does it hinder it? How do state-owned firms differ from private firms when it comes to internationalization? How do these patterns vary across countries?
• 7. How do EMNCs establish home-host country technological, organizational and operational links? How do they differ from AMNCs in organizing and managing such links? What are some effective mechanisms through which EMNCs orchestrate home-host country links? How do they integrate their acquired foreign strategic assets with their home base operations, and then use this stronger home base to reverberate to and further nurture international operations?

Submission Process:

Between January 1 and 31, 2017, authors should submit their manuscripts online via the Journal of World Business submission system: http://www.journals.elsevier.com/journal-of-world-business. To ensure that all manuscripts are correctly identified for consideration for this Special Issue, it is important that authors select ‘SI: MNC Home Country’ when they reach the “Article Type” step in the submission process.

Manuscripts should be prepared in accordance with the Journal of World Business Guide for Authors available at https://www.elsevier.com/journals/journal-of-world-business/1090-9516/guide-for-authors. All submitted manuscripts will be subject to the Journal of World Business’s double blind review process.

We will organize a workshop designed to facilitate the development of papers that will be held at Northeastern University in June of 2017. The workshop will be sponsored by the Center for Emerging Markets at Northeastern University and the Center for International Business Education and Research at the University of Miami. Authors of manuscripts that have progressed through the revision process will be invited to it. Presentation at the workshop is neither a requirement for nor a promise of final acceptance of the paper in the Special Issue.

Questions about the Special Issue may be directed to the guest editors: Alvaro Cuervo-Cazurra, Northeastern University (a.cuervocazurra@neu.edu); Yadong Luo, University of Miami (yadong@miami.edu); Ravi Ramamurti, Northeastern University (r.ramamurti@neu.edu) and JWB Supervising Editor Siah Hwee Ang, Victoria University of Wellington (SiahHwee.Ang@vuw.ac.nz).

References:

Aharoni, Y. (2014). Theoretical debates on multinationals from emerging economies. In A. Cuervo-Cazurra & R. Ramamurti (Eds.), Understanding multinationals from emerging markets (pp. 15-30). Cambridge, UK: Cambridge University Press.

Aulakh, P. S. (2007). Emerging multinationals from developing economies: motivations, paths, and performance. Journal of International Management, 13, 338-355.

Barkema, H. G., Bell, J., & Pennings, J. M. (1996). Foreign entry, cultural barriers, and learning. Strategic Management Journal, 17, 151-166.

Chung, C. C., & Beamish, P. W. (2005). The impact of institutional reforms on characteristics and survival of foreign subsidiaries in emerging economies. Journal of Management Studies, 42, 35-62.

Cuervo-Cazurra, A., Genc, M. (2008). Transforming disadvantages into advantages: Developing country MNEs in the least developed countries. Journal of International Business Studies, 39, 957-979

Cuervo-Cazurra, A. (2006). Who cares about corruption? Journal of International Business Studies, 37, 803-822.

Cuervo-Cazurra, A. (2012). How the analysis of developing country multinational companies helps advance theory: Solving the Goldilocks debate. Global Strategy Journal, 2, 153-167.

Cuervo-Cazurra, A., & Ramamurti, R. (2014). Understanding multinationals from emerging markets. Cambridge: Cambridge University Press.

del Sol, P., & Kogan, J. (2007). Regional competitive advantage based on pioneering economic reforms: The case of Chilean FDI. Journal of International Business Studies, 38, 901-927.

Delios, A., & Henisz, W. J. (2003). Political hazards, experience and sequential entry strategies: The international expansion of Japanese firms, 1980-1998. Strategic Management Journal, 24, 1153-64.

Dunning, J. H. (1998). Location and the multinational enterprise: A neglected factor? Journal of International Business Studies, 29, 45-66.

Dunning, J.H., Kim, C., & Park, D. (2008). Old wine in new bottles: a comparison of emerging-market TNCs today and developed-country TNCs thirty years ago. In K. Sauvant (Ed.), The Rise of Transnational Corporations from Emerging Markets: Threat or Opportunity? (pp. 158-180). Northampton, MA: Edward Elgar.

Gammeltoft, P., Barnard, H., & Madhok, A. (2010). Emerging multinationals, emerging theory: macro- and micro-level perspectives. Journal of International Management, 16, 95-101.

Garcia-Canal, E., & Guillen, M. F. (2008). Risk and the strategy of foreign location choice in regulated industries. Strategic Management Journal, 29, 1097-1115

Ghemawat, P. (2001). Distance still matters. Harvard Business Review, 79 (8), 137-147.

Godley, A. (2014). What does history add to EMNC research? In A. Cuervo-Cazurra & R. Ramamurti (Eds.), Understanding multinationals from emerging markets (pp. 31-49). Cambridge, UK: Cambridge University Press.

Govindarajan, V., & Ramamurti, R. (2011). Reverse innovation, emerging markets, and global strategy. Global Strategy Journal, 1, 191-205.

Holburn, G. L. F., & Zelner, B. A. (2010). Political capabilities, policy risk and international investment strategy: Evidence from the global electric power industry. Strategic Management Journal, 31, 1290-1315.

Hoskisson, R., Wright, M., Filatotchev, I. & Peng, M. W. (2013). Emerging multinationals from mid-range economies: The influence of institutions and factor markets. Journal of Management Studies, 50, 1295-1321.

Johanson, J., & Vahlne, J. E. (1977). The internationalization process of the firm: A model of knowledge development and increasing foreign market commitments. Journal of International Business Studies, 8, 23-32.

Luo, Y., & Tung, R. L. (2007). International expansion of emerging market enterprises: A springboard perspective. Journal of International Business Studies, 38, 481-498.

Luo, Y. & Shenkar, O. (2011). Toward a perspective of cultural friction in international business. Journal of International Management, 17, 1-14.

Luo, Y., & Wang, S. L. (2012). Foreign direct investment strategies by developing country multinationals: A diagnostic model for home country effects. Global Strategy Journal, 2, 244-261.

Meyer, K., Estrin, S., Bhaumik, S., & Peng, M. W. (2009). Institutions, resources, and entry strategies in emerging economies. Strategic Management Journal, 30, 61-80.

Ramamurti, R. (2009). What have we learned about emerging market multinationals? In R. Ramamurti & J. V. Singh (Eds.) Emerging multinationals in emerging markets (pp. 399-426). Cambridge UK: Cambridge University Press.

Ramamurti, R. (2012). What is really different about emerging market multinationals? Global Strategy Journal, 2, 41-47.

Ramamurti, R., & Singh, J. V. (Eds.). (2009). Emerging multinationals from emerging markets. Cambridge, UK: Cambridge University Press.

Rugman, A.M. (2010). Do we need a new theory to explain emerging market MNEs? In K. P. Sauvant, W. A. Maschek & G. A. McAllister (Eds.), Foreign direct investments from emerging markets: The challenges ahead. New York: Palgrave Macmillan.

Sauvant, K. P. (Ed.). (2008). The rise of transnational corporations from emerging markets: Threat or opportunity? Northampton, MA: Edward Elgar.

Wilkins, M. (1986). Japanese multinational enterprises before 1914. Business History Review, 60, 199-232.

Williamson, P., Ramamurti, R., Fleury, A., & Fleury, M. T. (Eds.). (2013). Competitive advantages of emerging country multinationals. Cambridge: Cambridge University Press.

CfP: Social and Economic Inequality: Origins, Consequences, and Implications for Business and Society

Social and Economic Inequality: Origins, Consequences, and Implications for Business and Society

Special Issue Call for Papers Journal of Management Studies

Special Issue Editors:

• Garry Bruton (Texas Christian University), 
• Roy Suddaby (University of Victoria/Newcastle University Business School), and 
• Jim Walsh (University of Michigan

Social and economic inequality is a major societal concern for those in mature and emerging economies alike. Nations across the political spectrum - from the United States, to Europe, to India, to China, to South Africa - increasingly seek to address the divide between those at the top and the bottom of their societies. The fact that the 85 richest people in the world have as many assets as the world’s poorest 3.5 billion people brings today’s social and economic divisions into stark relief. Much of this inequality is rooted in the quotidian and often invisible practices of the world’s dominant social institutions. Business is not a passive observer in this setting.

Business is a key institutional player, one that may contribute to the phenomenon and certainly one that is impacted by it. Social and economic inequality both challenges business-as-usual and offers opportunities for profit. The opportunities can be seen in the rapid growth of temporary employment agencies, in short-term lending operations that now exist around the world and broadly, in the “race to the bottom” hypothesis that catches such attention. Whether such realized opportunities are good for humanity is an open question. 

The goal of this special issue is to examine the nature of social and economic inequality, as well as its origins and consequences. To be sure, some may also offer ideas for change. We welcome considered solutions to any problems we identify. That said, we do not hold any preconceived assumptions that inequality is to be viewed negatively (or positively). Such a view would unnecessarily limit the range of issues we can examine here. We will say, however, that these issues are central to our understanding and conduct of business. Our hope is that by viewing structural inequality as part of, and not separate from, the business research agenda, our work will generate a better understanding of how these problems and opportunities affect business and society.

This special issue of the Journal of Management Studies seeks a wide range of papers that draw on diverse institutional settings, theories, and approaches to understand the different aspects of social and economic inequality. The questions asked can include - but are not limited to - the following:

• · What are the historical and institutional sources of structural inequality?
• · How do we explain the persistence of structural inequality? How is it legitimated? What forms of institutional work normalize it? How might it be changed?
• · What role (if any) does higher education play in the generation of, or accommodation to, such inequality?
• · Do the consequences of social and economic inequality differ in different institutional settings? What are the implications of these differences?
• · How do corporations respond to those possible worldwide differences in inequality? Can corporations profit from social and economic inequality? If so, how?
• · How are corporations negatively impacted by the presence of social and economic inequality?
• · At a more micro level, what is the impact of social and economic inequality on individuals, perhaps especially as they seek employment or work in a firm?
• · How might society address social and economic inequality?
• · What role will entrepreneurship play in our future?
• · What role can management research and education play in making a better world?

Again, these ideas are suggestive, not definitive. We welcome any manuscript that creatively addresses social and economic inequality. Such papers can include both theory development and empirical investigation. An empirical investigation can be either qualitative or quantitative. We encourage a rich range of submissions from authors who reside in a wide variety of nations.

The authors who receive a “revise and resubmit” editorial decision will be invited to attend a special conference in November 2016. We will gather as a group to learn from each other and to improve our work. While conference participation is not required, it is encouraged. The conference will take place at the Peter B. Gustavson School of Business, University of Victoria, Victoria, British Columbia, Canada.

While the JMS’s daily operations are housed in the UK, please submit your papers for this special issue to Lisa O’Brien at l.obrien@tcu.edu(between March 15 and April 15, 2016 and in accordance with JMS’ style guide). Please note in the subject line that your submission is a special issue submission. In the meanwhile, feel free to reach out to Garry Bruton (g.bruton@tcu.edu), Roy Suddaby (rsuddaby@uvic.ca) or Jim Walsh (jpwalsh@umich.edu) with any questions about the special issue. See http://onlinelibrary.wiley.com/journal/10.1111/(ISSN)1467-6486/homepage/ForAuthors.html for the Journal of Management Studies’ author guidelines.

Call for papers. Special Issue: Entrepreneurship in the Informal Sector: institutional perspectives

Journal of Small Business & Entrepreneurship

Call for Papers

Special Issue: Entrepreneurship in the Informal Sector: institutional perspectives

• Guest Editors: Colin C. Williams, University of Sheffield, UK
• Marijana Baric, University of Buckingham, UK 

Background

The informal sector refers to activities that are lawful in nature but not declared to the public authorities and thus are fully or partially outside of formal government regulation, taxation, and observation. In recent years, there has been growing recognition that many entrepreneurs operate wholly or partially in the informal sector. This tendency of entrepreneurs to operate in the informal sector is applicable not only in developing countries but also in transition economies as well as western developed nations.
Indeed, it is recognized that although this is a sizeable realm in global perspective, such entrepreneurship is more prevalent in some global regions and nations. It is also widely recognized that this is a heterogeneous sphere and that its character varies across populations. In some populations, it may be largely necessity-driven entrepreneurs operating in the informal sector; in others, it may be opportunity-driven entrepreneurs.
Special Issue on entrepreneurship in the informal sector: institutional perspectives
This special issue seeks to explore entrepreneurship in the informal sector from a range of institutional perspectives. Economic relations and institutions are shaped within - and thus are an integral part of - the surrounding political, social and cultural context. As such, informal sector entrepreneurship has to be understood within the broader political, social and cultural context of the places in which it is found.

The aim of the special issue is to bring together studies of informal sector entrepreneurship drawn from a wide variety of contexts. Empirical as well as conceptual studies are welcome. Topics of interest might include but are not restricted to the following:

• The influence of formal and informal institutions on informal sector entrepreneurship
• The role of weak institutions and corruption
• Tax morale
• Public perceptions of informality
• Social entrepreneurship in the informal sector
• Vulnerable groups and entrepreneurship/bottom of the pyramid studies
• Necessity- versus opportunity-driven entrepreneurship
• Public policy perspectives on informal sector entrepreneurs
• Case studies of policy initiatives to tackle informal entrepreneurship
• Social capital and informal entrepreneurship
• Risk of detection and informality
• Comparative studies of informal entrepreneurship

Other topics not mentioned above are welcome so long as they conform to the broad theme of the special issue.

Submission instructions

The deadline for the submission of papers is 15th January 2016.

Papers must be submitted electronically at: http://www.edmgr.com/rsbe/
Papers for the Special Issue should be prepared and formatted according to the Journal’s Instructions for authors available at: http://www.tandfonline.com/action/authorSubmission…

Enquiries regarding this special issue can be addressed to: Marijana Baric (marijana.baric@buckingham.ac.uk) or Colin C. Williams (C.C.Williams@sheffield.ac.uk).

Call for Papers, Special issue on: From Emerging to Emerged: A Decade of Development of Dragon Multinationals

Asia Pacific Journal of Management

Special Issue and Conference on:

“From Emerging to Emerged: A Decade of Development of Dragon Multinationals”

• Submission Deadline: April 15, 2015
• Conference Place and Date: 11-12 December, 2015 
• Venue: Macquarie University, Sydney, Australia
• Estmated Date of Publication: November 2016

Special Issue Guest Editors:

• Jane Lu (University of Melbourne and National University of Singapore)
• Xufei Ma (Chinese University of Hong Kong)
• Lucy Taksa (Macquarie University)
• Yue Wang (Macquarie University)

Special Issue Consulting Editors:

• Mike Peng (University of Texas at Dallas) 
• Ravi Ramamurti (Northeastern University) 

Conference Sponsor:

Department of Marketing and Management, Macquarie University, Sydney, Australia.


In 2006, the Asia Pacific Journal of Management (APJM) published an influential article “Dragon multinationals: New players in 21st century globalization” (Mathews, 2006a, 23:5-27). In this conceptual article, John Mathews (Macquarie University, Australia) defines firms from the periphery—especially those from the Asia Pacific region—as ‘dragon multinationals’. The author develops a new model to illustrate the three pillars common in these firms’ pattern of accelerated internationalization and summarizes them into his linkage, leverage, and learning (LLL) model.

According to Mathews (2006a), for dragon multinationals, the best and the quickest way to capture global opportunities and to tap into global resources is first to link up with firms around the global, second to leverage such links to overcome resource barriers (including foreign direct investment (FDI) through acquisitions), and third to learn to build up their own capabilities in a cumulative fashion. These three pillars of linkage, leverage and learning are what make dragon multinationals’ international expansion distinctive from the internationalization pattern of Western incumbents.

To the extent that firms that lack initial resources may take advantage of the increasingly interconnected global economy in a pattern consistent with the LLL model, the LLL model may become one of the dominant paradigms in international business (IB) research in the 21st century, just like how the OLI model was viewed by the IB and management community in the 20th century. We do not know whether this significant paradigm development will happen, but the fact that John Mathews’ article won the second APJM Best Paper Award in 2009 and became the second most cited APJM paper ever (with over 600 Google Scholar citations) in just a few years after its appearance in 2006 is a strong signal that the IB and management community may just be ready to embrace such a paradigm development. However, whether such a paradigm development will materialize (Dunning, 2006; Narula, 2006) is at least dependent on two critical issues, which will be addressed in this Special Issue. First, do we have accumulated sufficient evidence to suggest that there is indeed a need for a new paradigm such as the LLL model to account for a very different internationalization process? Second, nearly ten years since Mathews (2006a), do we have sufficient knowledge about ways that those already emerged dragon multinationals (such as Acer, Li & Fung, and Lenovo that appeared in Mathews’ original article) manage their global operations?

To further enrich our understanding of the merits and limits of the LLL model, we also call for papers that provide new theoretical or empirical insights to help us better understand the internationalization patterns and strategies adopted by firms from the rapidly developing Asia Pacific region including those are still emerging and those already emerged in the global stage. To the extent that management problems remain the same over time while their solutions differ from part of the world to part of the world (Hostede, 2007), we also welcome manuscripts that look at the impact of the emerging or emerged dragon multinationals on the strategies and behaviours of Western MNEs in different parts of the world.

Overall, this Special Issue provides an opportunity to (1) reflect on John Mathews’ influential article on the then emerging dragon multinationals, and (2) bring together research on recent development of those dragon multinationals that are already emerged in the global market as well as research on the interactions between these (relatively) new players and incumbent western players in an increasingly interconnected global business environment. To serve these purposes, manuscripts are not restricted to, but could deal with the following topics:

• · Empirical studies to test the validity of the LLL model in a broader range of firms (including but not limited to emerging and emerged dragon multinationals). 
• · How the strategies, structures, and management practices (e.g. how to manage the challenge of diverse workforce) adopted by those emerged dragon multinationals differ from MNEs from the West and Japan. 
• · How the LLL model and OLI model complement or substitute each other. 
• · How the expansion of dragon multinationals to regions such as Africa and Australia affects the strategies of Western MNEs in these regions.
• · How the pattern of expansion of dragon multinationals is affected by varying institutional conditions in their home countries.
• · What the performance implications are as a result of the expansion of dragon multinationals.

Papers for the Special Issue should be submitted electronically to the APJM Online Submission System at https://www.editorialmanager.com/apjm/, and identified as submissions to the “From emerging to emerged: a decade of development of dragon multinationals” Special Issue. The deadline for receipt of papers for this special issue is April 15, 2015. The format of submissions must comply with submission guidelines posted at the APJM website. Please indicate that your submission is to be reviewed for the Special Issue on “From Emerging to Emerged: A Decade of Development of Dragon Multinationals” (choose that in the “article type” item during the submission process).

Papers will be double-blind peer-reviewed. We will make initial editorial decisions by July 1, 2015. Authors invited to revise and resubmit their work will be invited to present the papers at a Special Issue development conference hosted by the Department of Marketing and Management at Macquarie University, Sydney, Australia.

The papers accepted and presented at the special issue conference will be considered for publication in the Special Issue of the APJM. Presentation at the conference does not necessarily guarantee publication in the special issue. The combination of a development conference and a Special Issue nevertheless follows a highly successful APJM initiative to bring out the full potential of authors and papers.

For questions about the special issue, please contact any of the Special Issue Editors:

Jane Lu
Professor, Department of Management and Marketing, University of Melbourne; and National University of Singapore
Email: jane.lu@unimelb.edu.au

Xufei Ma
Associate Professor, Department of Management, Chinese University of Hong Kong
Email: xufei@cuhk.edu.hk

Lucy Taksa
Professor, Department of Marketing and Management, Macquarie University
Email: lucy.taksa@mq.edu.au

Yue Wang
Associate Professor, Department of Marketing and Management, Macquarie University
Email: yue.wang@mq.edu.au

References:

• Hofstede, G. (2007). Asian management in the 21st century. Asia Pacific Journal of Management, 24: 411-420.
• Dunning, J. H. (2006). Comment on Dragon multinationals: New players in 21st century globalization. Asia Pacific Journal of Management, 23: 139-141.
• Narula, R. (2006). Globalization, new ecologies, new zoologies, and the purported death of the eclectic paradigm. Asia Pacific Journal of Management, 23: 143-151.
• Mathews, J. A. (2006a). Dragon multinationals: New players in 21st century globalization. Asia Pacific Journal of Management, 23: 5-27.
• Mathews, J. A. (2006b). Responses to Professors Dunning and Narula. Asia Pacific Journal of Management, 23: 153-155.

Call for papers. Special issue of the Journal of World Business

Business Group Affiliation and Internationalization of Emerging Market Firms

Submission Deadline: March 1, 2015

Guest Editors: Ajai Gaur, Jane Lu, Vikas Kumar, Robert Hoskisson

Business groups are prevalent in both developed and emerging markets (Ghemawat & Khanna, 1998) and constitute the dominant organizational form in many emerging markets (Chung & Luo, 2008; Khanna & Rivkin, 2001). Scholars have utilized multiple theoretical perspectives, including institutional economics, sociology and resource-based view to define, characterize and comprehend business groups. Business groups play an important role in emerging markets by filling institutional voids and creating their own internal capital, labor and product markets (Khanna & Palepu, 2000a). There are important differences between group affiliated and unaffiliated firms in emerging economies, in terms of their underlying resource base and embeddedness in the institutional and social fabric of the local market. To add to this complexity, institutional environments in emerging economies are constantly evolving and thereby impacting strategy, particularly of organizations such as business groups that are highly embedded in the domestic context (Hoskisson, Eden, Lau, & Wright, 2000; Hoskisson, Wright, Filatotchev, & Peng, 2013). Internationalization of business group firms under such tumultuous conditions presents a rich context for advancing internationalization theory and, in particular, contributing to a better understanding of the strategic adaptation of emerging market firms.

The extant literature on business group has primarily focused on how groups as a whole and/or firms affiliated to groups perform in their home countries (e.g. Chacar & Vissa, 2005; Chang, Chung, & Mahmood, 2006; Douma, George, & Kabir, 2006; Khanna & Palepu, 2000a; 2000b; Khanna & Rivkin, 2001). There are only a few studies that have explored the impact that affiliation to a business group has on the degree of internationalization of the focal firm, and present inconclusive findings (e.g. Chang, 1995; Kim, Kim, & Hoskisson, 2010). Examining not only institutional differences but also factor market difference between home and host countries also seems to matter with regard to internationalization from emerging economies (Kim, Hoskisson, & Lee, 2014). In the wake of the recent widespread and accelerated internationalization of emerging market firms, including many that are affiliated to larger business groups, the internationalization of business group affiliated firms warrants a deeper and systematic investigation from a variety of theoretical and empirical approaches.

As emerging economies develop and become mid-range economies (Hoskisson, et al., 2013), how does this change the nature of business groups and their internationalization strategies. Do they restructure their portfolios as transaction cost theory would imply (Hoskisson, Johnson, Tihanyi, & White, 2005)? Do they substitute domestic product diversification for more internationalization (Meyer, 2006)? How are they structured and governed differently (Chittoor, Kale, Puranam, 2014) as the country settings change and as they pursue increased innovation and internationalization (Yiu, Hoskisson, Bruton, Lu, 2014)? How does government ownership influence their corporate and internationalization strategies (White, Hoskisson, Yiu, & Bruton, 2008)?

Many studies simply use dummies to distinguish group affiliates from independent firms. This approach assumes all affiliates benefit equally, which is questionable due to differences in value capture.  For example, research shows that affiliate firms differ in their ability to capture benefits from internationalization; in this study more powerful group firms benefit from internationalization compared to less powerful affiliates (Wan, Hoskisson, & Kim, 2004). However, we have limited understanding of differences in power and of value capture among affiliates because few scholars examine heterogeneity among group affiliates.

The special issue solicits scholarly contributions that provide a finer-grained analysis of the internationalization of business group affiliated firms from emerging markets, encapsulating the unique attributes of business groups as well as that of the institutional and cultural contexts where they prosper. The following is an illustrative list of questions:

1.     How is the efficacy of business groups affected due to the rapidly changing institutional environment in EEs?

2.     Business groups are social structures deeply embedded in the broader institutional environment of EEs. How does this embeddnesses affect the internationalization propensity of their affiliates?

3.     What are the similarities and differences between business groups from different emerging economies as well as developed economies and how do these similarities/differences affect their internationalization behavior?

4.     How are business groups organized and managed differently in different country institutional and factor market settings? What organizational transformation are business groups undergoing to respond to the changes in the external institutional environment?

5.     What are the unique resources and capabilities of business groups?  How do these capabilities help group affiliated firms in internationalization?

6.     Are the advantages and/or disadvantages of affiliation to business group context-dependent?  How do individual business affiliate firms benefit more or less from group affiliation?

7.     Do advantages and/or disadvantages transfer to foreign markets when EE firms internationalize their operations?

8.     How do business groups extend their group like structure in foreign markets?

9.     How does the presence of a business group in an industry affect the industry-wide innovation and internationalization?

10.  How do the foreign market entry modes different between group affiliated and unaffiliated firms?

We encourage potential contributors to examine the internationalization of business groups from different theoretical perspectives and empirical approaches, including multi-level models and case studies.  Authors should not merely be testing the existing theories in the context of business groups, but make use of the novel context to develop new theories and explanations, and thereby enrich our understanding of firm internationalization behavior in general, and of business group internationalization behavior in particular.

Submission Process:

By March 1, 2015 all manuscripts should be submitted using the online submission system.  The link for submitting manuscript is: http://ees.elsevier.com/jwb. 

To ensure that all manuscripts are correctly identified for consideration for this Special Issue, it is important that authors select ‘SI: Business Groups’ when they reach the “Article Type” step in the submission process.

We may organize a workshop designed to facilitate the development of papers. Authors of manuscripts that have progressed through the revision process will be invited to it. Presentation at the workshop is neither a requirement for nor a promise of final acceptance of the paper in the Special Issue.

Questions about the special issue may be directed to any of the following guest editors:

Ajai Gaur, Rutgers University, USA ajai@business.rutgers.edu   

Jane Lu, University of Melbourne, Australia jane.lu@unimelb.edu.au 

Vikas Kumar, University of Sydney, Australia vikas.kumar@sydney.edu.au

Robert E. Hoskisson, Rice University robert.hoskisson@rice.edu

 References

Chacar, A., & Vissa, B. (2005). Are emerging economies less efficient? Performance persistence and the impact of business group affiliation. Strategic Management Journal,26(10): 933-946.

Chang, S.J. (1995). International expansion strategy of Japanese firms: capability building through sequential entry.  Academy of Management Journal, 38(2): 383-407.

Chang, S., Chung, C., & Mahmood, I.P. (2006). When and how does business group affiliation promote firm innovation? A tale of two emerging economies. Organization Science, 17(5): 637-656.

Chittoor, R., Kale, P., & Puranam, P. (2014). Business groups in developing capital markets:  Towards a complementarity perspective.  Strategic Management Journal, forthcoming.

Chung, C., & Luo, X. (2008). Human agents, contexts, and institutional change: the decline of family in the leadership of business groups. Organization Science, 19(1): 124-142.

Douma, S., George, R., & Kabir, R. (2006). Foreign and domestic ownership, business groups, and firm performance: evidence from a large emerging market. Strategic Management Journal, 27(7): 637-657.

Ghemawat, P., & Khanna, T. (1998). The nature of diversified business groups: a research design and two case studies.  Journal of Industrial Economics, 46(1): 35-61.

Hoskisson, R.E., Eden, L., Lau, C.-M., & Wright, M. 2000. Strategy in emerging economies. Academy of Management Journal, 43: 249–267.

Hoskisson, R. E., Johnson, R. A., Tihanyi, L. & White, R. E. (2005). Diversified business groups and corporate refocusing in emerging economies. Journal of Management, 31: 941-965.

Hoskisson, R.E., Wright, M., Filatotchev, I., Peng, M. (2013). Emerging multinationals from mid-range economies: The influence of institutions and factor markets. Journal of Management Studies, 50(7): 1295-1321.

Khanna, T., & Palepu, K. (2000a). Is group affiliation profitable in emerging markets? An analysis of diversified Indian business groups. Journal of Finance, 55(2): 867-891.

Khanna, T., & Palepu, K. (2000b). The future of business groups in emerging markets: long-run evidence from Chile. Academy of Management Journal, 43(3): 268-285.

Khanna, T., & Rivkin, J.W. (2001). Estimating the performance effects of business groups in emerging markets. Strategic Management Journal, 22(1): 45-74.

Kim, H., Hoskisson, R.E., & Lee, S.-H. (2014). Why strategic factor markets matter: ‘New’ multinationals’ geographic diversification and firm profitability. Strategic Management Journal, Forthcoming.

Kim, H., Kim, H., & Hoskisson, R.E. (2010). Does market-oriented institutional change in an emerging economy make business-group-affiliated multinationals perform better? An institution based view. Journal of International Business Studies, 41: 1141-1160.

Meyer, K.E. (2006). Globalfocusing: From domestic conglomerate to global specialist. Journal of Management Studies, 43(5): 1109-1144.

Kim, H., Hoskisson, R. E. & Wan, W. P. 2004. Power dependence, diversification strategy and performance in keiretsu member firms, Strategic Management Journal, 25: 613-636.

White, R. E., Hoskisson, R. E., Yiu, D. & Bruton, G. (2008). Employment and market innovation in Chinese business group-affiliated firms: The role of group control systems,Management and Organization Review, 4: 225-256.

Yiu, D. Hoskisson, R. E., Bruton, G. & Lu, Y. (2014). Dueling institutional logics and the effect on strategic entrepreneurship in Chinese business groups. Strategic Entrepreneurship Journal, 8(3): 195-213.

Call for papers. Special Issue of the European Journal of International Management (EJIM)

INDERSCIENCE PUBLISHERS
European Journal of International Management (EJIM)
SPECIAL ISSUE

Title

Special Issue on: “THE ROLE OF MULTINATIONAL ENTERPRISES IN LOCAL MARKET DEVELOPMENTS”

Guest Editors

• Pervez N. Ghauri, King’s College, UK 
• Byung Il Park, Hankuk University of Foreign Studies, South Kore

Description

As globalization intensifies and new middle classes emerge in most markets, multinational enterprises (MNEs) have significantly increased their international business efforts. The recorded figure for 2010 revealed a more than triple increase of the worldwide foreign direct investment (FDI) activities since the year 2000, amounting to US$20.4 trillion (UNCTAD 2011). The reason for the consistent expansion in MNEs foreign operations is closely associated with the increased realization that the presence of foreign firms is beneficial for both home and host countries. One view is that MNEs possessing sophisticated knowledge often function as a conduit for local firms to acquire foreign technology and know-how. In addition, MNEs also help in the creation of employment opportunities and an increase of exports strengthening the balance-of-payments position of the local economies (Park, 2011; Park and Ghauri, 2011). Likewise, home economies of MNEs achieve market expansion and learn about foreign markets.

However, some scholars (e.g., Chang, 2004; Ziegler, 2005) have shed light on the negative aspects of MNE operations, and even argue that MNEs are one of the primary obstacles inhibiting economic growth in developing countries. The explanations given by these scholars, proposing negative impacts are the following; often MNE activities are too vitalized and excessive, foreign firms attempt to dominate the market they enter and present a challenge to national sovereignty. Moreover, the aggravation of local competition against MNEs inevitably culls locally grown enterprises, which results in the deterioration of employment. In particular, MNEs re-invest only a fraction of their revenues in local economies and drain positive effects from both capital injections and the balance of payments. This leads to serious reductions in foreign exchange reserves, forces local governments to borrow more foreign debt and pushes the local economy into a vicious economic circle. These negative effects cause hardship for local governments and negatively influence their investments in infrastructure, education and technology development. In this vein, they suggest that MNE operations are not much different from the establishment of colonies.

A key problem is that it is perhaps hard to say that an unlimited open-door toward MNEs and limitless competition based on market principles is the only correct answer for economic growth. In other words, we cannot merely overlook the adverse aspects of MNEs, and need to practically assess the value of foreign investment. There is a general consensus that the fundamental goals and aims of MNEs are to pursue corporate profits and increase organizational competitiveness in overseas markets, and thus such gloomy opinions about MNEs are unavoidable to some extent. In this vein, it is time to think about the ways to lessen the skeptical attitudes of FDI by identifying the role of MNEs in local market developments. We also suggest that the negative impression of FDI might be significantly reduced if MNEs engage in actions that go beyond their direct economic and financial interests, involve themselves in activities that are not required by the law but further social good and use their internal resources in ways to benefit local markets through committed participation as members of society.

Taken together, the objective of this special issue is to bring both theoretical and empirical advancements examining the role of MNEs in developing local markets in various areas (e.g., economic, social, institutional and ethical developments).

Subject coverage

We seek both theoretical and empirical papers that may address, but are not limited to, the following list of potential research questions:

• How does FDI function as a vehicle to enhance economic development in local markets? Does FDI from MNEs based in advanced economies trigger economic growth in developing countries in the long term?
• Who obtains more benefits from inward FDI between advanced and developing countries? Are there avenues for MNEs based in advanced economies to help developing countries to promote economic growth?
• Are there any different patterns of economic development through FDI between advanced and developing countries? What implications can be drawn from countries that have successfully leapfrogged into better economic status?
• What are the key factors promoting the positive spillover effects of FDI in developing economies?
• In the perspective of developing countries, what are the primary conditions that inhibit the negative economic outcomes from inward FDI?
• How does FDI contribute to social evolution, particularly in emerging and developing countries?
• What is the effect of profit remittance by MNEs in the local market economy? What encourages MNEs to re-invest profits in local markets?
• What motivates corporate social responsibility (CSR) practices in foreign markets? Is there any particular relationship between the level of foreign CSR and economic development in emerging and developing countries?
• What facilitates knowledge transfer from advanced to developing economies through FDI?
• Is there a correlation between FDI types (e.g., ‘vertical versus horizontal’ or ‘export-driven versus market-seeking’) and economic contributions in emerging and developing countries?

References

Chang, H-J. (2004), Globalization, economic development and the role of the State, London, NY: Zed Books.

Park, B. I. (2011), “Knowledge transfer of multinational enterprises and technology acquisition in international joint ventures”, International Business Review, Vol. 20, pp. 75-87.

Park, B. I. and Ghauri, P. N. (2011), “Key factors affecting acquisition of technological capabilities from foreign acquiring firms by small and medium sized local firms”, Journal of World Business, Vol. 46, pp. 116-125.

UNCTAD (2011). World investment report: Non-equity modes of international production and development. Geneva: United Nations.

Ziegler, J. (2005), L'empire de la honte, Paris: Fayard.

Notes for Prospective Authors

Submitted papers should not have been previously published nor be currently under consideration for publication elsewhere.
All papers are refereed through a peer review process. A guide for authors, sample copies and other relevant information for submitting papers are available on the Author Guidelines page.

Deadlines for submission

• Submission of Manuscripts: April 30, 2015
• Notification to Authors: July 1, 2015
• Final Versions Due: December 1, 2015
• The issue is published: May 2016

Editors and Notes

All papers must be submitted online. To submit a paper, please go to Online Submissions of Papers. If you experience any problems submitting your paper online, please contactsubmissions@inderscience.com, describing the exact problem you experience. (Please include in your email the title of the Special Issue, the title of the Journal and the names of the Guest Editors).

Guest Editor(s) contact details:

Dr. Pervez N. Ghauri
King’s College London, Department of Management, 150 Stamford Street, London, SE1 9NH, UK
Tel: 00-44-(0)20-7848-4122, Email: pervez.ghauri@kcl.ac.uk



Dr. Byung Il Park
Hankuk University of Foreign Studies, College of Business Administration, 270, Imun-dong, Dongdaemun-gu, Seoul, 130-791, South Korea
Tel: 00-82-(0)10-4157-3532, Email: leedspark@hufs.ac.kr

Call for papers. Special issue: Sustainability, Institutions, and Internationalization in Emerging Markets: Roles of Sustainable Innovation for Sustainable World Development

Special issue call for papers from International Journal of Emerging Markets

Sustainability, Institutions, and Internationalization in Emerging Markets: Roles of Sustainable Innovation for Sustainable World Development

Deadline approaching soon: December 15, 2014

Visit call for papers at http://www.emeraldgrouppublishing.com/products/journals/call_for_papers.htm?id=5254

Topics for inclusion (among others)

We welcome papers within the broadly defined subject theme area from all the major disciplines in business and management studies, including: strategy, international business, organizational behavior and cross-cultural management, marketing, operations and decision sciences, finance and accounting, international trade and business economics. Potential topics include, but are not limited to:

• Sustainability as a driver for innovation, growth and internationalization – analyses from developed and developing world
• The role of sustainability and institutions in promoting or constraining innovation in emerging markets
• Factors impacting the geographic clustering of internationalization efforts in sustainability worldwide
• The impact of distance on sustainable innovation and internationalization
• The effect of internationalization on sustainable innovation within a company or geographic region
• The role of institutions in promoting or constraining inward and outward internationalization
• Managerial mindsets needed for sustainable innovation and internationalization in emerging markets
• Cross-cultural collaboration in sustainable innovation efforts
• The marketing of sustainable innovations in emerging markets vis-à-vis the developed world
• Theoretical and Empirical contributions to the field of sustainability, institutions, and emerging markets

You may contact the guest editors if you have questions:


Dr. Anshu Arora
Associate Professor - Marketing
Director of Global Logistics & International
Business Center
Savannah State University, Georgia, USA
aroraa@savannahstate.edu
Phone: +1 912 358 3387


Dr. Nicole Hartley
Lecturer - Marketing
University of Queensland Business School
University of Queensland,
Brisbane, Australia
n.hartley@business.uq.edu.au
Phone: +61 7 3346 8022

Call for Papers. Special Issue: Immigrant and Ethnic Entrepreneurship

Entrepreneurial Business and Economics Review

2015, Vol. 3, No. 3

CALL FOR PAPERS

The forthcoming issue will focus on

IMMIGRANT AND ETHNIC ENTREPRENEURSHIP

• Issue editor: Jan Brzozowski (Cracow University of Economics, Poland) 
• release: September 2015
• papers submitting deadline: May 30, 2015

Covered Topics:

• · Immigrant vs. ethnic businesses: theories, concepts and definitions
• · Immigrant economic adaptation and entrepreneurship: models and strategies
• · Immigrant entrepreneurship: necessity or opportunity-driven?
• · Ethnic enclave development and entrepreneurship in new immigration countries (esp. in Central and Eastern Europe)
• · The development/evolution of immigrant and ethnic businesses: from ethnic enclaves into the mainstream economy 
• · Immigrant selective policies and development of immigrant-owned businesses
• · Social remittances and immigrant entrepreneurship
• · Succession in immigrant family businesses: dissolution of "ethnic" features or reinforcement of ethnic traits?
• · Immigrant entrepreneurship and assimilation
• · Transnational immigrant entrepreneurship and the sustainability of transnational engagement over time
• · Diaspora economic engagement and the investments of immigrant enterprises in home countries

Submission

• · Notification of the title of your paper until March 15, 2015.
• · The complete articles must be submitted until May 31, 2015.
• · Final submission (with issue number) should be sent at eber@uek.krakow.pl or directly to the issue editor at jan.brzozowski@uek.krakow.pl (Dr Jan Brzozowski). 

We are looking forward to your submission!

On behalf of the Editorial Board of „Entrepreneurial Business and Economics Review”

Prof. Krzysztof Wach, PhD Jan Brzozowski, PhD

Editor-in-Chief Issue Executive Editor

EBER Journal

The concept of the Journal is to provide a broad and unified platform for revealing and spreading the economics and management research focusing on entrepreneurship, entrepreneur as well as particular and specific entrepreneurial aspects. It attempts to bridge the gap between the theory and practice in different sections of economics and management. The Journal is trying to link theory and practice by publishing different types of articles, including research papers, conceptual papers, literature reviews, or case studies. The Journal accept the articles from the following fields: 

• Entrepreneurship and Human Capital (especially entrepreneurship and innovation, strategic entrepreneurship, corporate entrepreneurship, new trends in HRM and organizational behaviour), 
• Management and Business Studies (especially entrepreneurial management, entrepreneurial business, modern trends in business studies and organization theory), 
• International Business and International Economics (especially international entrepreneurship and new trends in international economics), 
• Applied Economics and Statistics (especially the role of entrepreneurship and the entrepreneur in economics – microeconomics and macroeconomics, new trends in economics, current research in statistics and demography), 
•  Public Policies and Business Education (especially policies in favour of entrepreneurship, innovation, R&D and SMEs, education for entrepreneurship, new trends in social sciences

EBER is indexed on the IC Master Journals List (Index Copernicus International), BazEkon, CEEOL, ROAD, WorldCat, Econis, Econbiz, PBN and Arianta. All articles are available in both printed and electronic format (PDF) at our website.

For detailed information about our journal, thematic issues, editorial requirements, as well as copyright statement and electronic versions of published papers please refer to our website: www.eber.uek.krakow.pl

Call for papers: Globalization of Capital Markets

Journal of International Management Special Issue Call for Papers

GLOBALIZATION OF CAPITAL MARKETS: IMPLICATIONS FOR FIRM STRATEGIES

GUEST EDITORS

• Igor Filatotchev, City University London and Vienna University of Economics and Business
• R. Greg Bell, University of Dallas
• Abdul A. Rasheed, University of Texas at Arlington

Submission Deadline: May 15, 2015

The increasing integration of global capital markets now makes it easier for firms to access capital outside of their home countries. Firms access international capital markets through a variety of means such as initial public offerings (IPO), seasoned equity offerings (SEO), cross-listings, depository receipts, special purpose acquisition companies (SPACS), shelf offerings, private equity and other informal equity capital channels. Firms can also access debt resources outside their market through bank loans, and foreign bond issues. Finally, cross border flows of venture capital (VC) continue to increase rapidly. The objective of this Special Issue will be to explore the challenges firms face in capital markets beyond their domestic boundaries, be it equity, debt, or VC markets.

While IB research continues to evaluate the challenges facing firms in foreign product markets, IB scholars have yet to adequately address the underlying reasons why firms face challenges in foreign equity markets. These include underpricing, higher underwriting and professional fees, higher listing fees, audit fees (Bronson, Ghosh, and Hogan, 2009), and greater risk of lawsuits (Bhattacharya, Galpin, and Haslem, 2007), and home bias on the part of investors (French and Poterba, 1991). Further, research suggests the existence of a “foreign firm discount” relative to host market firms (Frésard and Salva, 2010).

Venture capital and private equity have truly become global phenomena and take many forms such as cross-border investment, foreign acquisitions, VC firms opening offices overseas, and influencing their portfolio firms to enter and exit international stock exchanges. Foreign firms raise significantly more debt than equity in the U.S.. Indeed, the largest component of the international capital market is the bond market.

Research on the motivation, the processes, the supporting mechanisms, and the range of outcomes that firms experience as a result of entering international capital markets is extremely limited so far. We believe such research can draw from a variety of theoretical perspectives and research traditions in international business. The choice of whether to access financial resources outside of the firm’s home market, how to select the appropriate foreign market, and the manner in which to raise resources are all relevant questions that parallel prior IB research market and entry mode choice. IB scholars consider LOF as the “fundamental assumption driving theories of the multinational enterprise” (Zaheer, 1995: 341). Yet, the conceptualization and research on LOF solely based upon product market may be inadequate today given the increasing integration of capital markets (Bell, Filatotchev and Rasheed, 2012).

In addition to the main theoretical perspectives in international business, the Special Issue welcomes scholars and perspectives from diverse disciplines such as finance, economics, and sociology.

TOPICS

The interaction between product market and capital market strategies
Prior research shows that the decision to list abroad has implications on the success of the firm’s products. What are the implications of capital market strategies for product market strategies and vice versa?

• Culture and capital markets

There is a growing body of research that investigates how culture affects both economic exchange and outcomes by affecting expectations and preferences (Guiso, Sapienza, and Zingales, 2009). How does culture affect cross-border transactions in formal or informal capital markets?

• The role of distance

Even in a world where technology has shrunk distance and time, spatial costs are non-trivial. Do spatial costs exist in financial markets? Moreover, do spatial costs impact capital market strategies, and the choice of foreign capital markets?

• The role of innovation

Financial markets are continuously producing new vehicles through which firms can acquire capital resources. What are the antecedents of innovations in global capital markets? How do firms take advantage of these innovations?

• Institutional environments and their implications on capital market strategies

New exchanges in Europe and Asia with vastly different listing and disclosure requirements thank New York and London. How has the competition among stock exchanges impacted the international capital raising strategies of firms?

• Liabilities of Foreignness

What are the sources of Liabilities of Foreignness (LOF) that firms face in formal or informal capital markets and what are the strategies that enable firms to overcome them?

• Informal capital market strategies

Private equity represents an innovation in the ability to provide capital to unquoted firms. What are challenges that private equity firms face in international markets? Likewise, what are the challenges that private equity portfolio firms face?

• Governance and capital market strategies

To what extent does internationalization of capital markets lead to convergence of governance practices across countries??

• The role of trust

Trust has been found to affect the international investment choices of private equity firms (Bruton, Ahlstrom, and Puky, 2009). How does trust impact the international capital market strategies of firms?

• Third parties and capital market strategies

Capital markets are mediated markets in that sense that participants rely greatly on key third parties, such as investment banks, brokers, and investment analysts for information production. How do third parties impact the choice of foreign capital markets? What are the internationalization strategies that these third parties pursue?

• Processes

What are the top management and board factors that impact capital market strategies? Both individual and team level factors hold considerable promise providing greater insights into the reasons why firms choose capital resources outside of their home market, and the manner in which these resources are accessed.

• Performance

What accounts for success in foreign capital markets? How do strategies for firms seeking debt capital differ from those seeking equity? How do home and host country factors determine the outcome of these strategies?

While many of the firms that make their initial public offerings go on to succeed, what is often overlooked is the fact that more than half of these firms actually delist within the first few years (Doidge, Karolyi, and Stulz, 2010). What are the factors that account for the delisting of firms on foreign exchanges?

SUBMISSION INSTRUCTIONS

The deadline for manuscript submission is May 15, 2015. Manuscripts should be prepared in accordance with Journal of International Management’s Style Guide for Authors:http://www.elsevier.com/journals/journal-of-international-management/1075-4253/guide-for-authors and submitted through the Journal’s submission website. A paper development workshop will be held at the 2015 Academy of Management conference in Vancouver. Final Drafts are due February 28, 2016.
Please direct any questions regarding the Special Issue to Igor Filatotchev (Igor.Filatotchev@city.ac.uk), Greg Bell (gbell@udallas.edu) and Abdul Rasheed (abdul@uta.edu).

REFERENCES

Bell, R. G., Filatotchev, I., Rasheed, A. 2012. The liability of foreignness in capital markets: Sources and remedies. Journal of International Business Studies, 43(2): 107-122.
Bhattacharya, U., Galpin, N., Haslem, B. 2007. The home court advantage in international corporate litigation. Journal of Law and Economics, 50: 625-659.
Bruton, G., Ahlstrom, D., Puky, T. 2009. Institutional differences and the development of entrepreneurial ventures: A comparison of the venture capital industries in Latin America and Asia. Journal of International Business Studies, 40: 762-778.
Doidge, C., Karolyi, A., Stulz, R., 2010. Why do foreign firms leave U.S. equity markets? Journal of Finance 65, 1507-1553.
French, K., Poterba, J. 1991. Investor diversification and international equity markets. The American Economic Review, 81(2): 222-226
Frésard, L., Salva, C. 2010. The foreign firm discount. Working Paper, HEC School of Management, HEC Paris.
Guiso, L., Sapienza, P., Zingales, L. 2009. Cultural biases in economic exchange? Quarterly Journal of Economics, 124(3): 1095–1131.
Schmeisser, B. 2013. A systematic review of literature on offshoring of value chain activities. Journal of International Management, 19(4), 390-406.
Zaheer, S. 1995. Overcoming the liability of foreignness. Academy of Management Journal, 38(2): 341-363.

Call for Special Issue: Emerging Market Multinationals: Perspectives from Latin America

Journal of World Business

Call for papers for a special issue

Submission deadline: May 4, 2015

Emerging Market Multinationals: Perspectives from Latin America 

Guest Editors:

• Ruth Aguilera
• Luciano Ciravegna
• Alvaro Cuervo-Cazurra
• Maria Alejandra Gonzalez-Perez

“Name some Brazilian multinationals. Even harder than "famous Belgians", isn't it? Despite Brazil being the world's eighth-largest economy, with plenty of big, profitable firms, few of them have a reasonable share of their operations abroad and are thus genuinely multinational.” The Economist, Sept 21, 2000.

“For the first time Brazil has a crop of companies that can be described as multinationals. Some of them are already well known outside Brazil: Petrobras; Vale, one of the world’s largest mining companies; and Embraer, the world’s third-largest maker of passenger jets.” The Economist, November 12, 2009.

These two quotes from the British newspaper The Economist reflect the change in view about Multilatinas, or Latin American multinational companies. The reason is not that there were no Multilatinas before 2000. In fact, there have been Multilatinas for over a century. For example, the Argentinean shoemaker Alpargatas was created in 1885 and established subsidiaries in Uruguay in 1890 and in Brazil in 1907. The reason is that there were few studies analyzing Multilatinas before the 2000s. This was part of a general trend in the international business literature that appeared to have ignored the region. For example, a review of articles in two leading journals in the field of international business (Journal of International Business Studies and Management International Review) in the period 1987-1997 indicated that fewer than 6% of the articles mentioned Latin America (Elahee and Vaidya, 2001). This paucity of studies on the region had not changed in recent times. A review of studies in four leading international business journal (Journal of International Business Studies, Management International Review, Journal of World Business, and International Business Review) in 2001-2005 indicated that only 2.75% of articles studied firms in the region (Perez-Batres, Pisani and Doh, 2010). Nevertheless, a few analyses of multinationals have indicated that firms from this region are becoming multinational rapidly and some of them are becoming leaders in their industries (Casanova, 2009; Cuervo-Cazurra, 2008,; Fleury and Fleury, 2010; Santiso, 2013).

In this special issue we plan to take stock of what is known about these firms and identify potential avenues for future research. Other special issues of the Journal of World Business have analyzed various regions of the world such as India (Varma and Budhwar, 2012), China (Laforet, Paliwoda and Chen, 2012), Africa (Kamoche, 2011), the Middle East (Mellahi, Demirbag and Riddle, 2011), and Korea (Paik and Lee, 2008). This special issue contributes to the global scope of the Journal of World Business by studying firms from Latin America, which have, thus far, been underrepresented in the management and business literature (Brenes, Montoya and Ciravegna, 2014).  With this special issue, we aim to not only increase our understanding of Multilatinas, but also to identify the particular characteristics of their internationalization and how it compares with the internationalization of firms from other regions.

The rise of emerging market multinationals has been well documented (for example see the papers in the special issues edited by Aulakh, 2007; Cuervo-Cazurra, 2012; Gammeltoft, Barnard and Madhok, 2010; Luo and Tung, 2007; and in the books edited by Cuervo-Cazurra and Ramamurti, 2014; Ramamurti and Singh, 2007, Sauvant, 2008; Williamson et al., 2013), yet the literature on emerging market multinationals has thus far focused mainly on firms from regions other than Latin America. With this Special Issue of Journal of World Business, we aim to fill this gap, contributing to the international business literature and the body of knowledge documenting the practices of multinational companies.

This call is an attempt to integrate different aspects that might have influenced the growth and internationalization of Latin American firms. We welcome theoretical, empirical, methodological and case studies submission addressing, but not limited to, the following issues:

• ·         Successful Multilatinas expanding outside their region
• ·         Comparative ownership advantages/disadvantages of Multilatinas
• ·         Internationalization patterns of Latin American firms
• ·         The internationalization of state-owned Latin American firms
• ·         Institutional constraints for Latin American companies to internationalize
• ·         Foreign performance of Latin American firms
• ·         Effects of exports promotion agencies on the internationalization of Latin American firms
• ·         Governance in Multilatinas
• ·         The internationalization of Latin American business groups  
• ·         Global leadership in Multilatinas
• ·         Dimensions of management diversity in Multilatinas
• ·         Determinants of outward FDI from Latin America
• ·         The role of governments in Latin American International Business
• ·         Corporate social responsibility and sustainable practices in Multilatinas
• ·         The role of family-owned business conglomerates in Multilatinas
• ·         Oligopolistic structures and internationalization in Multilatinas
• ·         Multilatinas and economic and political crises
• ·         Cultural challenges in doing business from Latin America
• ·         The role of Latin American diaspora and returning emigrants in international business

Submission process:

By May 4, 2015, authors should submit their manuscripts online via the new Journal of World Business EES submission system. The link for submitting manuscript is: http://ees.elsevier.com/jwb. 

To ensure that all manuscripts are correctly identified for consideration for this Special Issue, it is important that authors select ‘SI: Latin American MNCs’ when they reach the “Article Type” step in the submission process

Manuscripts should be prepared in accordance with the Journal of World Business Guide for Authors available at http://www.elsevier.com/journals/journal-of-world-business/1090-9516/guide-for-authors . All submitted manuscripts will be subject to the Journal of World Business’s blind review process.

We may organize a workshop designed to facilitate the development of papers. Authors of manuscripts that have progressed through the revision process will be invited to it. Presentation at the workshop is neither a requirement for nor a promise of final acceptance of the paper in the Special Issue.

Questions about the Special Issue may be directed to the guest editors:

• ·         Ruth V. Aguilera, Northeastern University, United States (r.aguilera@neu.edu)
• ·         Luciano Ciravegna, King’s College, London, UK, (Luciano.ciravegna@kcl.ac.uk)
• ·         Alvaro Cuervo-Cazurra, Northeastern University, United States (a.cuervocazurra@neu.edu)
• ·         Maria Alejandra Gonzalez-Perez, Universidad EAFIT, Colombia (mgonza40@eafit.edu.co)

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