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About 50% of innovations achieve commercial success in advanced countries. The number is much lower in emerging markets. Examining the impact of the digital environment on product success is crucial. The purpose of the study is to investigate the direct effects of disruptive technology (quality, efficiency and congruity) on digital entrepreneurship (new product development, cost-effectiveness and internationalization) and indirect moderating effects of the digital environment (data security, customer privacy and search engine optimization [SEO] algorithm) between disruptive technology and digital entrepreneurship.

This is a qualitative study by design. It uses the literature review method and the theory of disruption and competitive advantage to construct the six hypotheses linking the variables – disruptive technology, digital environment and digital entrepreneurship.

The study’s conceptual model proposes that disruptive technology leads to digital entrepreneurship; however, the digital environment moderates the relationship between disruptive technology and digital entrepreneurship in emerging markets.

The conceptual study has research implications for scholars. It constructs a conceptual framework and develops six hypotheses contextualized in emerging markets. The framework can be empirically tested across countries to validate the hypotheses and develop a competing model to explain more variance in digital entrepreneurship. This study also presents the possibility of analytical generalization.

This study has practical implications for digital entrepreneurs in emerging markets or those wishing to enter emerging markets. The main implication is that disruptive technology leads to digital entrepreneurship; however, the digital environment moderates it. Thus, digital entrepreneurs need to consider digital environmental effects such as data security, customer privacy and SEO. Given that two-thirds of the world is classified as an emerging market, the impact of the study is noticeable for practitioners as well.

Disruptive technology fosters digital entrepreneurship, which creates opportunities for innovative solutions for society worldwide. It breaks down the barriers to entry and promotes inclusivity by providing products and services that were unavailable before. Digital products are also economical and environmentally friendly, making them more suitable for people in emerging markets.

This study makes three new contributions. First, it proposes that disruptive technology leads to digital entrepreneurship and that the digital environment moderates the relationship between disruptive technology and digital entrepreneurship. Second, from a theoretical viewpoint, it develops a theoretical testable framework, links the variables and proposes the six hypotheses. Finally, the most significant contribution of the study is the identification of the digital environment variable and its dimensions – security, privacy and SEO algorithm – and its comparison between advanced countries and emerging markets.

This book chapter focuses on firstly social innovation and tools used to address the social needs and foster social innovation initiatives. Looking at the world economic forum and how it supports the social innovations, currency swings, low paying jobs growing rapidly, rapid change and growth as a result of high volatility and high returns, respectively. Secondly looking at the emerging market brought about by the social innovations and how they interconnect. Leading innovation emerging market has three main industries semiconductors, fin-tech, and electric cars. It also looks at the significance of technology in the development of business emerging markets, the role of technology in the emerging market and activities over the decades. Small firms in emerging areas face three major challenges which technology might help overcome. The challenges are trust, sustainability, and network. The role of technology replacing analog chip used for power supply, sensors, wideband signal make up the large semiconductors in the United States replaced with digital chip such as logical operations, data storage, computer information management all this have given birth to artificial intelligence, autonomous machines, self-driving cars, supply-chain management, cloud computing, and software-as-a-service (SaaS) applications are all made possible by digital chips. These are also used for e-commerce, mobile payment, fine-tech, 5G telecom, health-care advancement, remote learning, online entertainment, and cloud computing. Technical advancements that has sparked a revolution that would be especially advantageous for emerging market and small-cap enterprises are the causes of these benefits of how it has affected countries such as Europe, the United States, China, and India to mention a few.

This research investigates Airbnb’s financial implications in emerging economies and their potential to influence stock market profitability.

Employing a multifaceted approach, the study combines parametric and nonparametric tests, robustness checks, and regression analysis to assess the impact of Airbnb’s announcements on emerging economy stock markets.

Airbnb’s announcements affect emerging economies' stock markets with a distinct pattern of cumulative abnormal returns (CAR): negative before the announcement and positive afterward. Informed investors strategically leverage this opportunity through short selling before the announcement and acquiring positions following it. Regression analysis validates these trends, revealing that stock index returns and inbound tourism affect CAR before announcements, while GDP growth influences CAR afterward. Announcements pertaining to emerging economies exert a more pronounced impact on stock indices compared to city-specific announcements, with COVID-19 period announcements demonstrating greater significance in abnormal returns than non-COVID-19 period announcements.

This study advances existing literature through a comprehensive range of statistical tests, differentiation between emerging countries and cities, introduction of five macroeconomic variables, and reliance on credible primary Airbnb data. It highlights the potential for investors to leverage Airbnb announcements in emerging markets for stock market profits, emphasizing the need for adaptive investment strategies considering broader macroeconomic factors.

Leveraging signalling theory and institutional environment theory, this study aims to examine how the entrepreneurial orientation of emerging market firms impacts initial public offering (IPO) performance.

The authors conduct regression analysis based on archival data from 312 firms’ IPOs in India.

The results in the Indian context suggest it differs from IPO performance in developed markets. In an emerging market context, the findings suggest that only competitive aggressiveness is valued by investors in IPOs. The findings further show that proactiveness and autonomy negatively influence IPO underpricing.

The research propositions imply that, owing to institutional voids in emerging markets, investors’ risk propensity and, hence, rewarding a firm’s entrepreneurial orientation differ from those in developed markets.

Extant literature has given limited attention to the dynamics of entrepreneurial orientation and the effect of each dimension of entrepreneurial orientation on IPO performance in emerging markets.

This study examines the role of social media adoption (SMA), opportunity recognition (OR) and opportunity exploitation (OE) in mediating the relationship between entrepreneurial orientation (EO) and the performance of newly established small and medium-sized enterprises (SMEs) in emerging economies, with a particular emphasis on Ghana.

This study adopts a post-positivist philosophical stance and uses a quantitative approach and a survey design. A purposive sampling technique was used to select 336 SME owners and managers from Ghana’s manufacturing, trading and service sectors. Questionnaires were administered to source the empirical data for this study. Structural equation modelling (SEM) was used to analyse the proposed hypotheses.

The results reveal that EO positively and significantly influences the performance of new-born SMEs. SMA, OR and OE partially mediated this relationship.

This study is a wakeup call to policymakers, practitioners, managers and owners of recently established businesses. Policymakers should provide support and resources for newly established SMEs to adopt effective social media marketing strategies, bolstering their online presence and customer engagement. Simultaneously, they should invest in entrepreneurship education and create an environment conducive to innovation to cultivate an entrepreneurial mindset among fresh SMEs. Business owners and managers should proactively monitor market trends and consumer preferences, adapting their strategies to identifying and seizing emerging opportunities.

This study introduces a significant novelty to previous literature and one of the first to employ the dynamic capability theory to examine the interplay between EO, SMA, OR and OE in influencing the performance of new SMEs in the context of emerging markets. Furthermore, it extends the scope of understanding of the mechanisms through which SMEs can prosper in these dynamic environments. This unique combination of theoretical framework, comprehensive variables and contextual focus sets this study apart from existing research, enriching the literature on SME performance in emerging markets.

This study aims to examine the multidimensional nature of institutional distance as a driver of acquisition decisions in emerging markets. Then, this study aims to offer a nuanced perspective on the role of its various formal and informal dimensions by taking into account the potential contingency role played by a firm’s context experience.

Building on institutional economics and organizational institutionalism, this study explores the heterogeneity of institutional distance and its effects on the decision to enter emerging versus advanced markets through cross-border acquisitions. Thus, institutional distance is disentangled into its formal and informal dimensions, the former being captured by regulatory efficiency, country governance and financial development. Furthermore, our framework examines the moderating effect of an acquiring firm’s experience in institutionally similar environments, defined as context experience. The hypotheses are analyzed on a sample of 496 cross-border acquisitions by Italian companies in 41 countries from 2008 to 2018.

Findings indicate that at an increasing distance in terms of regulatory efficiency and financial development, acquiring firms are less likely to enter emerging markets, while informal institutional distance is positively associated with such acquisitions. Context experience mitigates the negative effect of formal distance and enhances the positive effect of informal distance.

This study contributes to institutional distance literature in multiple ways. First, by bridging institutional economics and organizational institutionalism and second, by examining the heterogeneity of formal and informal dimensions of distance, this study offers a finer-grained perspective on how institutional distance affects acquisition decisions. Finally, it offers a contingency perspective on the role of context experience.

International Journal of Emerging Markets (IJoEM) is a leading journal that publishes high-quality research focused on emerging markets. In 2020, IJoEM celebrated its fifteenth anniversary, and the objective of this paper is to conduct a retrospective analysis to commensurate IJoEM's milestone.

Data used in this study were extracted using the Scopus database. Bibliometric analysis, using several indicators, is adopted to reveal the major trends and themes of a journal. Mapping of bibliographic data is carried using VOSviewer.

Study findings indicate that IJoEM has been growing for publications and citations since its inception. Four significant research directions emerged, i.e. consumer behaviour, financial markets, financial institutions and corporate governance and strategic dimensions based on cluster analysis of IJoEM's publications. The identified future research directions are focused on emergent investments opportunities, trends in behavioural finance, emerging role technology-financial companies, changing trends in corporate governance and the rising importance of strategic management in emerging markets.

To the best of the authors' knowledge, this is the first study to conduct a comprehensive bibliometric analysis of IJoEM. The study presents the key themes and trends emerging from a leading journal considered a high-quality research journal for research on emerging markets by academicians, scholars and practitioners.

The purpose of this study is to examine how different innovation efforts can support multinational enterprises’ (MNEs’) pursuits of sustainable development goals (SDGs) in emerging markets and under what circumstances they are applied.

The article comprises in-depth case studies on two high-profile Swedish MNEs: a telecom firm and a fast-fashion firm, with data collected both at the headquarter-level and local-market level.

The study shows that MNEs pursue a selection of prioritized SDGs in emerging markets. To overcome challenges related to attaining these goals, we find that MNEs engage in innovation efforts at different levels of commitment. In some instances, they engage in operational innovation aimed at relieving symptoms of sustainability misconduct and ensuring compliance. In other instances, they engage in systemic innovation efforts, which involve the actual market structures underlying sustainability problems.

MNEs are increasingly incorporating the United Nations SDGs into their innovation strategies. The study contributes to international business research on MNEs’ roles in realizing the SDGs by conceptualizing and discussing two pertinent approaches to innovation.

This study investigates CSR reporting’s role in debt access and cost of debt with the moderating role of external assurance and GRI adoption in emerging markets. Such an investigation will help facilitate external fund flow to firms in better terms.

We collected data from 16 emerging markets between 2008 and 2019 from the Thomson Reuters Eikon and ran fixed effects regression analysis and robustness tests by addressing endogeneity concerns, adopting alternative sample and integrating additional control variables.

The results show that CSR reporting has a positive association with access to debt and a negative association with the cost of debt. Furthermore, both external assurance and GRI adoption do not significantly moderate between CSR reporting and access to debt and cost of debt. Hence, creditors in emerging markets are not interested in CSR report assurance and GRI framework adoption and do not integrate them into their lending decisions.

Emerging markets are unique settings characterized by high growth rates, limited capital availability, high debt costs and weak institutional environments. Thus, reaching debt with convenient conditions is critical for emerging market firms to finance their growth. Hence, our study will help emerging market firms reach external funding more easily and in better terms via CSR transparency. Besides, our investigation is based on a broad sample of emerging markets, and hence updates prior emerging market studies conducted in single-country settings. Lastly, we test the complementarity of third-party assurance and GRI adoption to CSR reporting in loan contracting.

The purpose of this study is to examine the impact of firm environmental, social and governance (ESG) rating scores on market perception and stock behavior from 2017 to 2021 while controlling for COVID-19 severity score.

The authors used panel regression models with robust standard errors based on cross-country and cross-industry sample of 1,324 ESG firms from 25 emerging countries across four regions. Four separate regression analyses are used. Hausman test is used to determine whether fixed-effect (FE) or random-effect approaches should be used in regression models. Lagrange multiplier test is used to test for time FEs, and F-test for individual effects to choose between pooled ordinary least squares model and FE. Two-unit root tests are conducted to check stationarity. Heteroskedasticity and serial correlation were controlled through a robust covariance matrix estimation.

The authors provide evidence that the stakeholder theory persists in emerging countries. Overall, the results suggest that firms’ stock behavior is positively associated with the level of environmental and social performance in the region. However, the results do not provide empirical evidence to support the link between ESG performance and stock market perception proxied by the price-to-sales ratio. The results suggest that Refinitiv and Bloomberg ESG rating scores have a positive impact on stock performance in emerging markets, albeit the Bloomberg rating score is insignificant.

Favorable impact of environmental and social performance on stock performance suggests that policymakers should take initiatives to raise awareness toward investments in ESG projects. Evidence shows that ESG stock performance in emerging markets does not insulate firms from the COVID-19 severity. Furthermore, this study highlights the inconsistency in calculating the ESG ratings, therefore, a more standardized approach is recommended to support investors seeking sustainable investments.

The findings have social implications for investors with proenvironmental preferences and nonpecuniary motives for ethical investments. Asset fund managers should develop ESG investment strategies to promote investor preferences that are linked to the proenvironmental and prosocial attitudes by increasing their investments in stocks of firms that behave ethically and support the environment. Furthermore, the findings show that investors pay a price for ethical and socially responsible investments as they are evaluating the environmental and social activities, hence, the firm ESG profile influences equity valuation and risk assessment.

The study extends the literature and provides evidence from the unique setting of emerging markets by analyzing the relationship between ESG rating scores and the COVID-19 severity scores on one hand, and stock behavior and market perception on the other.