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I study the relationship between pro-market reforms and the expansion of emerging market multinational companies (EMNCs). Extending institutional economics, I propose a co-evolutionary process, whereby pro-market reforms in emerging markets induce the transformation of domestic firms into EMNCs, and the global expansion of EMNCs in turn facilitates the deepening of pro-market reforms in the home country. Specifically, I first explain how pro-market reforms lead to the emergence of EMNCs via international competitiveness, upgrading needs, and escape; I then explain how the global expansion of EMNCs leads to a deepening of pro-market reforms at home via learning, spillovers, and lobbying. I complement these explanations with a discussion of contingencies at the firm (private vs. state, domestic vs. foreign firms), industry (global vs. local industries), and country (developing vs. transition countries) levels.

Why do some ventures grow to become dominant market players while most new ventures that do not fail limp along more modest trajectories? In comparison with our knowledge regarding determinants of venture creation or survival, the phenomenon of venture growth has been relatively neglected, both theoretically and empirically. Venture growth is a multi-level phenomenon co-occurring at different analytical and temporal levels. In this chapter we develop a theoretical model that accounts for venture growth as a process, drawing upon the mechanism-based theorizing approach. We offer nine social mechanisms that lead to venture growth, providing a foundation for empirical exploration and further theory building.

Sustainability has become an ever-increasing issue in today's world. Countries across the world have had to refocus on sustainability due to the new pressures of climate change. In recent decades, numerous different institutions have become the architectural framework for the promotion and implementation of sustainability in society, namely: governments, non-government organizations, universities, social enterprises, and the private sector. One of the key drivers of sustainability is social enterprise education. This driver has become vital in higher education, as it enables the learner to understand the complex processes of sustainability. This chapter critically explores the interlocking relationship of social enterprise and sustainability. The authors of this chapter present findings from their UKIERI research project entitled “The Benefits of Modifying Social Enterprise within Higher Education's Social Sciences Curriculum.” Moreover, the authors argue that social enterprise can have a real influence in the achievement of the 17 Sustainable Development Goals (SDGs), which were set out by the United Nations in 2015.

Today’s business leaders face a global environment that is marked by increasingly volatile, uncertain, complex, and ambiguous (VUCA) conditions. Design thinking offers a proven way to navigate in a VUCA environment. I used this approach while serving as a military officer in Iraq and Afghanistan. This chapter focuses on what I learned from applying design thinking to our operations as well as on insights from businesses that have also successfully integrated design thinking. I use the framework “inspire, ideate, and implement” to describe how I utilized design thinking. I finish the chapter with key factors for successfully employing a design methodology to VUCA problems.

Design thinking empowers organizations to tackle successfully VUCA challenges. Inspiration allows designers to frame relevant problems that clients care about. With the pressing challenge in hand, designers immerse themselves in the context of a problem to empathize with a customer’s concerns. They synthesize input from a variety of diverse sources, and meet experts who can give meaning to their collected data. With this comprehensive picture in hand, design teams brainstorm new possibilities as they move into ideation. Taking their ideas out for a test run, they iterate the most promising ways to move into action. They conduct pilot projects, adapt to what works best, and share their learning from the process. Leaders with a design mindset, aligned with a collaborative organizational culture and congruent support systems, can build an innovative enterprise that is primed to thrive in a VUCA world.

There are few studies of take over effects in emerging stock markets and of whether such events result in value-increasing or value-decreasing effects for the successful targets and bidders. This study analyses the impact of successful takeovers on the Stock Exchange of Thailand (SET). Both target and bidding firms’ performances during a period of 12 months before and after the takeover are investigated. Abnormal returns are measured using an event study approach; applying two models and three parametric test statistics. The results suggest that Thai takeover effects are wealth-creating for both offeree and offeror shareholders.

This study examines the director labor market to better understand which director attributes are important for board service.

Director level data, which includes proxies for both human and social capital, is analyzed to determine which characteristics increase the likelihood of gaining additional board appointments.

We find that general skills and director connections are valued in the marketplace. Among specific director characteristics, financial expertise, holding an MBA degree, and S&P 500 experience are positively associated with gaining new board appointments. Moreover, regardless of the director’s level of expertise, highly connected individuals are more likely to obtain new appointments. Finally, from a range of characteristics, only director connections mitigate the negative consequences of serving on the boards of firms that restate their financials.

While most research has analyzed the effectiveness of boards of directors as a whole, this study examines the value of individual director characteristics within the context of the labor market.