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To develop a strategic model for effective management that incorporates aspects of strategic decision‐making from both industrialized and emerging markets.

To interview senior managers (many at CEO level) of successful companies operating in emerging markets. We assume the senior managers best understand strategy formulation and implementation.

A strategic model for both information rich and information void business environments.

We did not use a random sample, but rather a convenience sample of CEOs and senior managers of companies operating in emerging markets. This sample limits the study’s generalizability.

Successful managers argued that best practices developed for information‐rich Western markets were not effective in information‐void emerging markets.

The paper has value for managers moving from industrialized economies to emerging economies and vice‐versa, and to academics researching strategic decision‐making in emerging markets.

Building upon insights from institutional theory and resource-based view (RBV), the aim of this study is to investigate the direct effects of stakeholder pressures on organizational resources, organizational capabilities and green export business strategy and to explore the indirect impacts of organizational resources and capabilities on the link between stakeholder pressure and green business strategy from an emerging economy.

A quantitative study was conducted to test the conceptual model within this study. In total, 235 questionnaires were collected from Turkish exporting manufacturing companies and the data was analyzed through structural equation modeling.

The results of the study demonstrated that stakeholder pressures have strong and positive effects on organizational resources and organizational capabilities for firms from emerging markets. Also, organizational resources, capabilities and stakeholder pressures have significant impacts on green export business strategy, which in turn, influences positively export market and financial performance.

Several implications were presented in this study via examining the forces affecting companies' environmental strategies and how implementing these strategies result in favorable gains in their international operations for emerging country exporters.

The contribution of this study lies in the under-researched context, in discussing the mutually and contradictory roles played by stakeholders and in examining determinants of the adoption of green strategies by emerging-market exporters. In this sense, stakeholders make the life of the company tougher at home by demanding a greener posture; on the other hand, by doing so, they prompt the company to be competitive when selling to developed markets.

The purpose of this paper is to explore how multinationality affects multinational companies’ (MNCs) downside risk and the moderate effects of ownership structure in the setting of emerging markets based on Chinese publicly traded manufacturing MNCs.

The author derives hypotheses based on real options theory and agency theory, and tests hypotheses by using Tobit model and a unique data set of Chinese A-shared publicly traded manufacturing MNCs in the period of 2010–2016.

The empirical results suggest that multinationality is positively related to downside risk and this effect is subjected to ownership structure for firms in emerging markets. In particular, multinationality of MNCs with a high level of ownership concentration, managerial ownership and institutional ownership is more likely to reduce downside risk.

The main conclusion of this paper highlights the importance of ownership structure of MNCs in explaining the real options value of multinationality, and conveys to owners of MNCs in China and other emerging markets the need to strengthen firms’ governance if they want to maximize the benefits of multinational operations.

This study extends existing studies by taking ownership structure into consideration and highlighting the importance of agency problem in the examination of multinationality and downside risk, which provides a potential explanation for previous mixed evidence. This study also provides new evidence for the relationship between multinationality and downside risk by using a unique sample from China, an emerging market country.

The main purpose of this study is to investigate perceptions about and contributing activities to business-to-business (B2B) brand value by corporate managers and local stakeholders in the context of emerging markets.

The case study examines brand strategies of a multinational company in the high-tech industry. By using NVIVO, this research analyses the brand narratives by corporate managers of Axis Communications in Sweden and local stakeholders in Russia, Brazil and India. The study evaluates perceptions about brand value and contributing activities emphasized by corporate managers, local managers, local partners and local end-customers.

The findings demonstrate that corporate managers underutilize contributing activities by local managers and other local stakeholders, despite these activities being central to enhancing brand value. This research provides insights into how corporate and local managers can develop successful brand strategies in emerging markets. Consequently, a general typology of contributing activities to B2B brand value by local stakeholders is proposed.

The company-centred approach to B2B branding stresses the importance of unique components of brand value and their consistent communication to multiple stakeholders. Prior studies provide limited evidence on how various stakeholders perceive brand value and enhance it through their contributing activities. Following the stakeholder-encompassing approach, this study advances branding research by examining perceptions about and contributing activities to B2B brand value by corporate managers and local stakeholders in a cross-cultural setting. Future studies are recommended to apply a stakeholder-encompassing approach in developed and transition economies and considering other relevant groups of stakeholders.

This study investigates whether the skilled minority of active equity managers in emerging markets can be identified using a machine learning (ML) framework that incorporates a large set of performance characteristics.

The study uses a cross-section of South African active equity managers from January 2002 to December 2021. The performance characteristics are analysed using ML models, with a particular focus on gradient boosters, and naïve selection techniques such as momentum and style alpha. The out-of-sample nominal, excess and risk-adjusted returns are evaluated, and precision tests are conducted to assess the accuracy of the performance predictions.

A minority of active managers exhibit skill that results in generating alpha, even after accounting for fees, and show that ML models, particularly gradient boosters, are superior at identifying non-linearities. LightGBM (LG) achieves the highest out-of-sample nominal, excess and risk-adjusted return and proves to be the most accurate predictor of performance in precision tests. Naïve selection techniques, such as momentum and style alpha, outperform most ML models in forecasting emerging market active manager performance.

The authors contribute to the literature by demonstrating that a ML approach that incorporates a large set of performance characteristics can be used to identify skilled active equity managers in emerging markets. The findings suggest that both ML models and naïve selection techniques can be used to predict performance, but the former is more accurate in predicting ex ante performance. This study has practical implications for investment practitioners and academics interested in active asset manager performance in emerging markets.

Highly publicized scandals and increased stakeholder activism for sustainable development have resulted in calls for more responsible global leadership. At the same time, emerging economies characterized by weak institutions, political instability, and a shaky rule of law have gained in importance for global business. Under the lens of responsible global leadership, we highlight the challenges that global leaders face in addressing the needs of diverse, cross-boundary stakeholders, with a particular focus on Western multinational enterprises (MNEs) doing business in emerging markets. We identify three prototypical approaches that MNEs and their leaders take in responding to calls for responsible global leadership, focusing on the tensions and possible trade-offs between globally integrated and locally adapted approaches. We discuss the implications in view of managerial decision making and behavior and offer recommendations for how organizations may promote responsible global leadership.

We raise and address an unexamined research question: Why do managers place some business activities in the formal economy and others in the informal? This firm-level managerial choice is most visible in emerging economies and is important due to its performance implications.

We theorize that managers use social ties with formal institutions (e.g. parliament, central bank) to protect against (1) being singled out for enforcement and (2) opportunistic business partners, and that these protections allow managers to conduct more activities in the informal economy. Based on regulatory focus theory, we also submit that managers with a promotion (prevention) focus mindset are more (less) prone to use their social ties with formal institutions to emphasize the informal economy. Hypotheses are tested using survey data from 362 Lebanese top managers.

Managers' social ties with formal institutions relate positively to their propensity to use the informal economy, and managers with a promotion mindset are more willing and those with a prevention mindset are less willing to leverage their social ties with formal institutions to conduct activities in the informal economy.

Our study raises an important new research question at the intersection of strategic and international management and offers an initial answer. Working within the informal economy requires informal social ties among informal actors, but for formally registered firms, entry into the informal economy requires informal ties with formal actors.

Evolution and stationarity are key time series empirical concepts which need theoretical assessment by extant research. This study presents a model to explain brand sales dynamics in emerging markets using two dimensions: sales behavior in time (stationary or evolution) and final position (negative, neutral or positive).

A three-step methodological approach was performed. First, individual brand sales series were classified (stationarity or evolution) after unit root tests. These series were then regressed against a time variable. These two steps enabled a qualitative classification of six proposed positions, ranging from the worst to the best scenario for marketing managers. A final multinomial model identified the marketing effect to these positions.

Descriptive statistics reveal an insignificant prevalence of stationary sales series and a small number of positive brand sales series (ascending or promising). The multinomial model shows that price is negatively associated to positive brand sales positions, the important effect of service strategies and how product decisions can lead to an avoidance of negative positions.

The model is limited to short time series of a unique transactional dataset from a multinational energy company based in Brazil.

The research provides a rational empirical framework to managers involved with decisions regarding brand sales dynamics in emerging markets.

The approach advance into the development of models to uncover conditions for market evolution and stationarity in a context marked by the shortage of data.

The significant changes that supply chains (SCs) are undergoing and the emergence of disruptive technologies have led to a growing effort to integrate novel and mature technologies into existing SC strategies. Thus, this study investigates the relationships between mature information technologies (ITs), emerging IT and the lean supply chain (LSC) and agile supply chain (ASC) strategies.

An empirical study based on structural equation modeling of survey data from 256 Spanish focal companies has been conducted to test six hypotheses.

Drawing on resource orchestration, our results point to mature IT use being an enabler of both LSC and ASC strategy implementation. The results also show an LSC mediating effect on the relationship between mature IT and ASC when SCs follow both strategies. Also, the implementation of emerging IT requires a process of consolidation over time to be genuinely useful as a facilitating mechanism for developing both the lean and agile strategies along the SC. In this sense, a suitable mix needs to be orchestrated between emerging and mature IT.

This study sheds light on the relevance of the mature IT and emerging IT in the context of two SC strategies (lean/agile) and provides practical and theoretical implications.

This study aims to explore and clarify the mechanism by which cognitive heuristics influence strategic decision-making during the coronavirus disease 2019 (COVID-19) pandemic in an emerging economy.

Data collection was conducted through a survey completed by 213 top-level managers from firms located in the twin cities of Pakistan. A convenient, purposively sampling technique and snowball method were used for data collection. To examine the relationship between cognitive heuristics and strategic decision-making, hypotheses were tested by using correlation and regression analysis.

The article provides further insights into the relationship between cognitive heuristics and strategic decision-making during the COVID-19 pandemic. The results suggest that cognitive heuristics (under-confidence, self-attribution and disposition effect) have a markedly negative influence on the strategic decision-making during the COVID-19 pandemic in an emerging economy.

The article encourages strategic decision-makers to avoid relying on cognitive heuristics or their feelings when making strategic decisions. It provides awareness and understanding of cognitive heuristics in strategic decision-making, which could be very useful for business actors such as managers and entire organizations. The findings of this study will help academicians, researchers and policymakers of emerging countries. Academicians can formulate new behavioural models that can depict the solutions to dealing with an uncertain situation like COVID-19. Policymakers and strategic decision-making teams can develop crisis management strategies based on concepts from behavioral strategy to better deal with similar circumstances in the future, such as COVID-19.

The paper’s novelty is that the authors have explored the mechanism by which cognitive heuristics influence strategic decision-making during the COVID-19 pandemic in an emerging economy. It adds to the literature in strategic management, explicitly probing the impact of cognitive heuristics on strategic decision-making; this field is in its initial stage, even in developed countries, while little work has been done in emerging countries.

The peer review history for this article is available at https://publons.com/publon/10.1108/IJSE-10-2021-0636.