Wenxing Wang, Jeroen van Wijngaarden, Martina Buljac‐Samardžić, Joris van de Klundert
Many Global Health initiatives aim to disseminate best practices to developing countries to improve access and quality of care. However, current concepts of successful innovation are primarily based on studies conducted in developed, Western countries. Little is known about the structural factors influencing the uptake of these innovations in non-Western developing countries. This gap motivated our study on the introduction of ‘best international practices in health service delivery’ in China. We conducted semi-structured online interviews with 20 participants, consisting of 10 Chinese, 9 Dutch, and 1 German, to advance scientific understanding of this topic. Four themes of structural factors that influence the adoption and adaption of health service delivery innovations originating from abroad in China emerged. These four themes include: Alignment with governmental policies and regulations, Leadership engagement on multiple levels, Alignment between internal stakeholders, and Matching incentives with both organizational and personal interests. While adoption is always top-down, adaption often follows a bottom-up approach in the Chinese context. Resource scarcity in primary care institutions adds extra difficulties to bottom-up innovations. Health professionals’ motivations to adopt and adapt foreign innovations are primarily controlled (externally) instead of autonomous (internally), which can diminish sustainability. Reducing workload and increasing salaries can facilitate resolving motivation challenges. Our findings indicate that differences exist in the adoption and adaptation of foreign innovations in developing countries with tight government control and a centralized health system such as China, compared to developed countries with decentralized health systems.
This paper contributes to the recent literature on the FDI--growth nexus by investigating whether fiscal decentralization moderates the growth effects of foreign direct investment (FDI). Using a panel of 69 countries over 1996--2020 with fixed-effects and system-GMM estimations, we show that while FDI generally promotes economic growth, its positive effect is significantly attenuated in countries with higher levels of fiscal decentralization, on both the revenue and expenditure sides. We further identify infrastructure quality as a transmission channel through which expenditure decentralization dampens the FDI--growth nexus, suggesting a reduced capacity to finance national public goods in highly decentralized settings. These findings highlight the importance of intergovernmental coordination in preserving the growth effectiveness of foreign investment, and open new avenues for research on the institutional determinants of the FDI--growth nexus.
Abstract This chapter examines decentralized autonomous organizations (DAOs) through two theoretical lenses: the theory of the firm and Elinor Ostrom’s institutional analysis framework. It argues that DAOs’ diverse organizational structures preclude broad generalizations about their economic and institutional nature. Some DAOs implement hierarchical arrangements characteristic of firms, others adopt different organizational models. The use of smart contracts does not definitively determine whether DAOs should be classified as contractual, firm-like, or as hybrid arrangements. The chapter critically examines the concepts of autonomy and decentralization in DAOs, revealing them as aspirational rather than fully realized characteristics. This analysis contributes to the legal scholarly discourse by providing a nuanced understanding of DAOs’ organizational nature and challenging simplistic categorizations of these emerging entities. It also assists practitioners in analyzing and developing the structure of particular DAOs.
Abstract: This review paper examines the rising influence of Non-Fungible Tokens (NFTs) in the field of marketing,focusing on how these unique digital assets are changing brand strategies and consumer interactions. Businesses are increasingly using NFTs to offer exclusive experiences, strengthen customer loyalty, and promote ownership of digital products like virtual collectibles, art, and branded content.The paper provides a comprehensive overview of the current applications of NFTs in marketing, including digital collectibles, virtual real estate, branded content, and customer incentives. It also addresses the challenges and risks, such as market volatility, environmental concerns, regulatory uncertainties, and the evolving consumer perception of digital ownership. Additionally, the study explores future developments, such as the convergence of NFTs with the metaverse and social platforms, and the growing importance of gamification in brand storytelling. By synthesizing existing researchand how marketers can effectively use NFTs while managing risks in this rapidly changing digital environment.
Vahid J. Sadeghi, Alexeis García-Pérez, Demetris Vrontis, Denise Bedford
The transition from an industrial to a knowledge-based economy, accelerated by the fourth industrial revolution (Industry 4.0), has fundamentally transformed the business landscape (Ardito et al., 2021). This shift has brought unprecedented challenges and opportunities for organizations, particularly small and medium-sized enterprises (SMEs), as they navigate the complexities of digital transformation and international expansion (Denicolai et al., 2021; Jafari-Sadeghi et al., 2021). In this context, the concept of digital resilience has emerged as a critical capability for firms to not only survive but thrive in an increasingly volatile, uncertain, complex and ambiguous (VUCA) business environment (Annarelli et al., 2020).This special issue of the Journal of Enterprise Information Management focuses on the intersections of digital resilience, new business models and international entrepreneurship, particularly emphasizing the importance of digital resilience for SMEs, the adaptation of business models in the digital age and the specific challenges SMEs face in international markets. By exploring these themes, the issue aims to provide valuable insights into how SMEs can leverage digital technologies to enhance their resilience, innovate their business models and successfully pursue international opportunities.The landscape of international business has undergone a profound transformation in recent decades, driven by the rise of the knowledge economy and the rapid advancement of digital technologies (Hanelt et al., 2020; Vaio et al., 2021). This evolution has given birth to new forms of international entrepreneurship and necessitated the development of novel capabilities, particularly digital resilience, for firms operating in the global marketplace (Dillon et al., 2020). As Oviatt and McDougall (2005) presciently observed, the intersection of international business, entrepreneurship and technological advancement has created a new paradigm for how firms operate across borders.International entrepreneurship, once characterized primarily by the gradual expansion of firms into foreign markets as described in traditional internationalization theories (Johanson and Vahlne, 1977), has been revolutionized by digital technologies. Today’s international entrepreneurs can leverage digital platforms and ecosystems to engage with global markets from inception, often without significant physical presence abroad (Elia et al., 2020). This phenomenon, termed “born-global” firms by Rennie (1993) and further developed by Knight and Cavusgil (2004), has fundamentally changed our understanding of how firms internationalize.The digital landscape has redefined how opportunities are discovered, evaluated and exploited across national borders (Cenamor et al., 2019). Zahra et al. (2005) highlight how digital technologies have enhanced entrepreneurs' ability to recognize international opportunities, while Autio et al. (2018) demonstrate how digital affordances enable new forms of value creation in international markets. International entrepreneurs now have unprecedented access to global customer bases, can tap into international talent pools through virtual collaboration and can participate in global value chains with greater ease than ever before (Coviello et al., 2017).However, this digital transformation also brings new challenges. As Reuber and Fischer (2011) point out, the increased accessibility of international markets has led to heightened competition, with firms facing rivals not just from their home country but from around the globe. Additionally, the rapid pace of technological change means that consumer preferences and market conditions can shift swiftly, requiring entrepreneurs to be ever vigilant and adaptable (Nambisan, 2017). Moreover, navigating diverse digital ecosystems and regulatory environments across different countries adds layers of complexity to international operations (Banalieva and Dhanaraj, 2019).In this context, digital resilience has emerged as a critical capability for international entrepreneurs. Building on the concept of organizational resilience (Linnenluecke, 2017), digital resilience extends beyond mere technological robustness; it encompasses an organization’s ability to adapt, innovate and thrive in the face of digital disruptions and opportunities. For international entrepreneurs, digital resilience is multifaceted, involving technological adaptability, organizational flexibility and strategic agility (Garousi Mokhtarzadeh et al., 2020; Warner and Wäger, 2019).Technologically, digital resilience requires the ability to integrate, update and secure digital systems in a rapidly evolving technological landscape. This includes maintaining robust cybersecurity measures, ensuring data protection across international operations and swiftly adopting new technologies (Annarelli et al., 2020; Wylde et al., 2022) that can provide competitive advantages in global markets. As Kshetri (2014) emphasizes, the increasing prevalence of cyber threats makes this aspect of digital resilience particularly crucial for firms operating across borders.Organizationally, digital resilience demands the cultivation of a digitally savvy workforce and an innovative culture that can quickly respond to international market shifts (He et al., 2022; Wang and Chen, 2022). It involves developing digital competencies across the organization, fostering a mindset of continuous learning and adaptation and creating structures that allow for rapid decision-making in response to global digital trends. Fitzgerald et al. (2014) highlight how this organizational dimension of digital resilience often requires significant cultural and structural changes within firms.Strategically, digital resilience for international entrepreneurs means the capacity to sense and seize opportunities arising from digital innovations on a global scale. Teece (2007) describes these as dynamic capabilities, which are particularly crucial in fast-moving international digital markets. It requires the ability to reconfigure business models in response to international market demands, leverage data for cross-border decision-making and navigate the complexities of global digital ecosystems. As Autio and Zander (2016) note, this often involves creating and managing platform-based business models that can scale rapidly across international markets.The importance of digital resilience for international entrepreneurship is particularly pronounced in the era of the knowledge economy. In this economic paradigm, as articulated by Powell and Snellman (2004), value creation is increasingly driven by intellectual capital, innovation and the application of knowledge to solve complex problems. For international entrepreneurs, success in the knowledge economy requires not just the ability to create and leverage knowledge, but to do so across national boundaries and diverse cultural contexts (Mudambi et al., 2018).Digital resilience enables international entrepreneurs to effectively manage knowledge flows across borders, facilitating learning and innovation in international contexts (Arfi and Hikkerova, 2019; Shen et al., 2018). It allows firms to tap into global knowledge networks, collaborate with international partners and rapidly disseminate innovations across markets. Kogut and Zander’s (1993) seminal work on the evolutionary theory of the multinational corporation underscores the importance of this knowledge transfer capability, which has only been amplified in the digital age.Moreover, digital resilience enhances an organization’s ability to gather, analyze and act upon data from diverse international sources, improving strategic decision-making in global operations. As George et al. (2014) demonstrate, the ability to leverage big data analytics can provide significant competitive advantages in international markets. This data-driven approach allows firms to personalize offerings for different markets, optimize global supply chains and identify emerging trends across borders.The convergence of international entrepreneurship and digital resilience in the knowledge economy has given rise to new forms of value creation and capture. Digitally resilient international entrepreneurs can create platform-based business models that scale rapidly across borders, offer knowledge-intensive services to global markets and participate in international innovation ecosystems (Nambisan et al., 2019; Sukumar et al., 2020). They can also more effectively navigate global crises, as demonstrated during the COVID-19 pandemic, by quickly pivoting to digital operations and identifying new opportunities amidst disruption (Soto-Acosta, 2020).Furthermore, digital resilience is crucial for addressing the sustainability challenges that are increasingly central to international business (Miceli et al., 2021). It enables entrepreneurs to leverage technologies for sustainable innovation, meet evolving global standards and contribute to solving global challenges through their international operations. As emphasized by George et al. (2016), digital technologies offer unprecedented opportunities for firms to contribute to sustainable development goals while pursuing international growth.The interplay between digital resilience and international entrepreneurship also has significant implications for how firms overcome the liabilities of foreignness and newness in international markets. As Zaheer (1995) originally conceptualized, the liability of foreignness refers to the additional costs and challenges a firm faces when operating in a foreign market. Digital resilience can help mitigate these liabilities by enabling firms to gather market intelligence more effectively, adapt their offerings quickly to local preferences and build virtual networks that bridge cultural and institutional distances (Brouthers et al., 2016).As we move further into the 21st century, the ability of firms to build and maintain digital resilience while pursuing international opportunities will likely become a key determinant of success in the global marketplace. This special issue represents an important step in developing our understanding of this critical intersection between digital technologies, international entrepreneurship and the knowledge economy.In this special issue, we received a total number of 43 original submissions of which 12 were accepted (rejection rate 72%). Each paper makes unique additions to our theoretical and empirical understanding of digital resilience in the international entrepreneurship domain. In total, this special issue found interest from different locations on the planet as the diversity of submissions spread from 19 countries on diverse continents. Among accepted papers (corresponding) authors from seven different countries have contributed to this special issue. Table 1 highlights the country of origin for the submissions in this special issue.Several common themes emerged from the submissions, reflecting the current priorities and challenges faced by SMEs in the context of digital transformation and international entrepreneurship. This included:Digital transformation and resilience: Many papers emphasized the critical role of digital transformation in building resilience. This included discussions on how SMEs can leverage digital technologies to enhance their operational efficiency, innovate business models and improve their competitive edge in international markets.Innovative business models: A significant number of submissions explored innovative business models that SMEs are adopting to thrive in the digital economy. These models often integrate digital platforms, data analytics and new value creation mechanisms that support international expansion.Cybersecurity and risk management: Given the increasing digitalization, several papers addressed the importance of cybersecurity and effective risk management strategies. These studies highlight the need for robust digital infrastructures and practices to protect against cyber threats and ensure business continuity.The submissions also showcased a variety of innovative approaches, offering fresh perspectives and practical insights, including:Use of advanced technologies: Many authors investigated the application of advanced technologies such as artificial intelligence, blockchain and the Internet of Things (IoT). These technologies are seen as pivotal in driving digital resilience and enabling SMEs to tap into global markets with greater agility.Case studies and empirical research: A notable trend was the use of detailed case studies and empirical research to illustrate successful digital transformation strategies. These provide valuable and insights for SMEs to enhance their digital papers approaches, insights from business systems and entrepreneurship. 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Автор статьи обсуждает распространение электронных платежей, рост интереса к криптовалютам и внедрение блокчейн-технологий, рассматривается влияние мобильных технологий, таких как Apple Pay и Google Wallet, на удобство платежей. В статье проводится сравнение традиционных платежных систем (Visa, MasterCard) с инновационными (PayPal, Skrill), рассматриваются их различия в услугах, комиссиях, технологиях, безопасности и удобстве использования. Статья освещает текущие тенденции в платежных системах на 2023 год, в том числе развитие цифровых финансовых активов (ЦФА), децентрализованных финансов (DeFi), альтернативных механизмов трансграничных платежей и расширение присутствия кредитных карт в развивающихся странах, внедрение открытых API и применение биометрии для усиления безопасности платежных операций. The author of the article discusses the spread of electronic payments, the growing interest in cryptocurrencies and the introduction of blockchain technologies, and the impact of mobile technologies such as Apple Pay and Google Wallet on the convenience of payments is considered. The article compares traditional payment systems (Visa, MasterCard) with innovative ones (PayPal, Skrill), examining their differences in services, fees, technologies, security and ease of use. The article highlights current trends in payment systems for 2023, including the development of digital financial assets (DFAs), decentralized finance (DeFi), alternative cross-border payment mechanisms and the expansion of credit cards in developing countries, the introduction of open APIs and the use of biometrics to enhance security payment transactions.
Abstract Research summary International business strategy and international management are two distinct but related fields of study. This article explores the connections between them. It shows how internalization theory can act as a bridge between them. The key is to analyze not only core activities, such as production, marketing and R&D, but support services such as human resource management, information technology, and corporate finance. Internalization decisions and location decisions must be analyzed holistically, and diagrammatic techniques show how this can be done. These diagrams reveal the networks of communication and the hierarchical structures that emerge from such decisions. Managerial summary The organizational structure of a multinational enterprise is inherently complex, making it difficult to determine whether one organizational structure is more efficient than another. Delayering, decentralization, and agility are recommended, but what are their practical implications? Internalization theory addresses these problems in a simple and coherent way. It shows that it is not only core activities, namely production, marketing and R&D, that need to be coordinated, but support services too. Decisions on the location and out‐sourcing of support services must be aligned with similar decisions on core activities. A diagrammatic analysis is presented that facilitates the solution of these problems.
Matthew J. Davis, Thomas Taro Lennerfors, Daniel Tolstoy
Purpose The purpose of the study is to explore, with anchorage in theories about the normalization of corruption, under what conditions blockchain technology can mitigate corruptive practices of multinational enterprises (MNEs) in emerging markets (EMs). Design/methodology/approach By synthesizing a technological perspective and theory on corruption, the authors examine the feasibility of blockchain for fighting corruption in MNEs’ business operations in EMs. Findings Blockchain technology is theorized to have varying mitigating effects on the rationalization, socialization and institutionalization of corruption. The authors provide propositions describing the effects and the limitations of blockchain for mitigating corruption in EMs. Social implications This paper offers a perspective for how to tackle acute business problems and social problems pronounced in international business but also prevailing elsewhere. Originality/value The study contributes to literature in international management by systematically exploring how and under what conditions blockchain can mitigate the normalization of corruption.
Digital technologies are rapidly changing every aspect of our societies, and especially international trade where all these technologies are converging. From artificial intelligence (AI) and distributed ledger technology (DLT)* to 3D printing and 5G networks, emerging technologies are no longer abstract ideas but daily realities of international trade.
A.V. Bogucharskov, I.E. Pokamestov, Karine Adamova, Zh. N. Tropina
The complexity of trade finance instruments associated with need for many accompanying documents, constant coordination are problems of this process.Successful development of trade finance instruments depend on improvement of software and implement blockchain solutions that enable companies to unite and through partnerships and process automation to accelerate cash flow and documentation throughout supply chain.The paper aims to examine areas and ways of blockchain application in trade finance and to identify key aspects of improving transactions process.We present possible interaction of participants with digital letters of credit and factoring with blockchain application and display its effect on key trade finance instruments.Moreover, we identifies a number of problems, implementation solutions of which will lead to further more efficient application of technology in supply chain finance.The achieving these goals will lead to further more effective application of blockchain in financing of supply chain.Blockchain with a high level of functionality and security in trade finance processes reduces processing time for documents, transaction costs, expanding number of participants and increases level of transparency.
The more one penetrates the role of the manager abroad, the more it becomes apparent that it depends on the degree of centralization or decentralization to which his company is committed. However, this apparent simplification conceals complexities within it. As we have seen, even the most decentralized firm tends to hold a firm rein on financial management and as we will observe, the most home-office oriented corporations must concede considerable freedom to the manager afield in the matter of marketing. The qualifications do not end there, because while different industries may share the same viewpoint on finance, their emphasis on marketing varies tremendously. It is not unusual for a man who has made his mark in marketing consumer goods abroad to wind up his career as president of the firm at headquarters, but this is most unlikely when the company is in the petroleum business, heavy industry or banking.
One of the most significant journeys in our understanding of international business has been that from an essentially centralized view of innovation in MNEs toward one that encompasses an increasing range of decentralized inputs and strategic postures. This change in perspective can then be seen as decisively embodied within comparable changes in the way in which the effects of international business on individual host countries have been analysed. Here we can see a refocusing from an FDI-based interpretation of flows of separate firm attributes (increasingly technology and other intangible assets rather than finance capital per se) toward a more MNE-strategy oriented evaluation of how firms position their operations in a specific location within wider globalized programs (Pearce, 2001, forthcoming). The aim of this chapter then is to generate a methodology for the assessment of the ways in which MNEs’ globalized strategies for innovation involve themselves with the attempts of national economies to generate and operationalize innovation competences as a source of growth and international competitiveness. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
ASIAN PERSPECTIVE, Vol. 13, No. 2, Fall-Winter 1989, pp. 35-53 TEN YEARS OF DIRECT FOREIGN INVESTMENT IN CHINA Richard Pomfret In the late 1970s the People's Republic of China (PRC) re versed its economic development strategy, ending three decades of economic isolation by adopting the Open Door policy. The most dramatic component of the new strategy was the June 1979 Law on Equity Joint Ventures which permitted direct foreign investment (DFI) in the PRC for the first time. Foreign capital had, of course, played a significant role in other coun tries' economic development before 1979, but the PRC decision came at a time when many developing countries were rejecting foreign investors or, if they sought foreign funds, they preferred loans, which did not pose the same perceived threat to economic independence as DFI involving foreign control. In this respect China was ahead of the times, as the post-1982 Debt Crisis revealed the dangers of loans as sources of external finance and stimulated a more favorable reassessment of DFI by capital scarce nations. China also led the way among communist coun tries in permitting DFI, and the path has been followed since by the USSR, other East European countries, and the communist nations of Indochina.1 The Chinese experience with DFI is thus of interest both in itself, as a new move by the world's largest nation, and for its lessons for developing countries and for communist states. Because DFI involves a time horizon measured in years rather than months and because the inevitable initial uncertainty slowed foreign investors' response to the 1979 Law, some time had to elapse before an assessment of the Chinese experience 1. The USSR passed a joint venture law in January 1987. Vietnam adopted a law permitting DFI in June 1988 and Laos followed in the next month. 36 Richard Pomfret with DFI could be made. Ten years is an arbitrary but reasonable length. Moreover, the tenth anniversary of the June 1979 Law was marred by the massacre in Tiananmen Square and subsequent repression, which may change the DFI situation as potential foreign investors reassess their views of the PRC as a place to do business. This paper describes and evaluates the Chinese experience with DFI between 1979 and 1989. Many features are, of course, specific to China—the lure of the billion person market, the absence of direct colonial experience, etc.—but others are predictable consequences of China's resource endowment, level of economic development and policy choices. The paper examines the types of joint ventures (JVs) which have been formed, their characteristics in terms of size distribution, type of activity, nationality of foreign partners, determinants of success, and the role of policy in all this. The situation has changed over time as foreign investors have learned more about operating in China and as Chinese attitudes and policies have changed; the most useful distinction in this respect is between the situation before and after October 1986 when important modifications in the Joint Venture Law were announced. China's Open Door Policy Adoption of the Open Door policy represented a dramatic shift from China's previous inward-oriented development strategy. This section describes the four elements of the new strategy: trade policy, the Joint Venture Law, exchange rate and macroeco nomic policies, and the spatial dimension. Meanwhile, China was also undertaking far-reaching domestic reforms in agriculture and industry which were changing the organization of produc tion and the role of central planning. This paper is not concerned with these economic reforms, but they are important back ground events. Before 1979 China's trade policy was driven by imports and was highly centralized. Exports were determined by the amount needed to pay for imports, which were the shortfall between planned needs and domestic availability of each good. International trade was conducted by twelve foreign trade cor porations (FTCs), who insulated the domestic economy with its fixed prices from market-determined world prices. In Decern- Ten Years of Direct Foreign Investment in China 37 ber 1978 the Central Committee of the Chinese Communist Party rejected this approach, and by 1984 foreign trade decisions had been decentralized and controls over imports and exports...