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The paper analyses social and environmental engagement, stakeholders’ relations and corporate social responsibility (CSR) strategies/options along with their underlying mechanisms of firms operating in China.

It does this through the analysis of a unique case study using data collected from internal members and external stakeholders of the company framed within stakeholder theory.

Within the Aguinis and Glavas (2012) framework, the results show that the company’s resources and values can act as a mediator, their high visibility and scale can act as a moderator, and their self-regulation can act as a predictor in weak institutional contexts. Also, the findings show that employees’ perceptions of visionary leadership can act as a mediator, and that the alignment in the vision/values/beliefs of the chief executive officer with those of the shareholders can act as moderators.

The paper intends to contribute to the literature on CSR in China by analysing a specific type of investor, the socially responsible investor, neglected in the CSR literature, and by studying multilevel (individual/organisational/institutional) social and environmental engagement, stakeholders’ relations and CSR strategies/options in an evolving institutional environment.

The purpose of this paper is to explore and understand corporate social responsibility (CSR) and human resource management (HRM) practices of the UK and Japan, who share opposing societal and cultural characteristics, from a national business system (NBS) perspective, to answer the following two questions: the extent of convergence/divergence of CSR-HRM of two very different NBS, and the institutional relations behind the convergence/divergence.

For these purposes, the paper proposes a framework that can be utilised to understand the complex relationships between institutions, HRM, and CSR. Using a qualitative approach and grounded theory analysis as well as multiple-case analysis of six cases from the UK and Japan, the findings are tested against the framework.

The paper was able to confirm that mimetic and coercive isomorphism from global institutional pressure cause certain convergence of CSR-HRM in these two nations. However, simultaneously, the local institutional pressure (i.e. NBS) appears to be deeply rooted and is more salient at micro-level, resulting in diversified CSR-HRM in the two nations. As a result, it appears that convergence and divergence co-exist due to their differences in NBS with possibility of “crossvergence”.

This paper’s significance lies not only in contributing to the existing convergence–divergence debate on both CSR and HRM but also to help understanding of how Western CSR-HRM concepts are utilized and interpreted in East Asian countries with very different NBS from the West, with the aid of the proposed framework.

This study aims to understand whether business and political relations help emerging markets' SMEs to overcome the challenges posed by low institutionalization in their national and international expansion. It focuses on the role that these relations play in determining access to government funding and contracts and to market information and business-related knowledge.

The data were collected from 828 SMEs in Brazil and China. The data analysis was developed in two stages: the first stage was based on multivariate regression analyses using the ratio of sales outside the companies' region of origin divided by total sales as a dependent variable and the survey's answers as independent variables; outward sales were taken at two different levels – national and international – to consider: (1) the different stages in the national and international expansion process, and (2) the fragmented nature of domestic markets in both Brazil and China. The second stage was based on a stepwise multiple regression as the relative importance of the variables was not known beforehand and the objective was to rank them according to the managers' perceptions.

Informal institutions, in particular business and political relations, can help to reduce uncertainty and overcome some disadvantages associated with weak institutionalization. They do this by providing access to trusted distribution channels, improving the familiarity with different institutional environments and strengthening the management of supply chains and commercial strategies to serve markets outside their region. Also, SMEs in emerging markets getting access to private sources of funding, market knowledge and government contracts through business and political relations are in a better position to expand nationally and internationally.

The research shows that the domestic environment, in particular one with low levels of institutionalization, impacts negatively the national and international expansion of SMEs and, more importantly, how firms can use business and political relations to overcome the obstacles posed by this environment. The findings also have implications for theory, practice and policymaking.

The paper aims to critically analyse the relevant literature on the international expansion of China's small- and medium-sized enterprises with the aim of highlighting the main topics analysed by scholars and identifying areas for future research.

The paper reviews the works on the international growth of China's SMEs published in selected peer-reviewed English-language journals vis-à-vis what has been published on Western SMEs. It does this by, first, studying the literature at both firm and industry levels and, second, by analysing the specific characteristics of small business from China along with the particularities of the Chinese business environment.

The paper shows that two main areas are in need of further research: the impact of the Chinese business environment on the international expansion of SMEs, and the need to understand different elements of the process to develop a strong firm-level body of literature.

The paper highlights the need to deepen the understanding of the process leading to SMEs' expansion beyond China's borders to conclude with the identification of areas for future research.

The purpose of this paper is to study the national and international expansion of small to medium‐sized enterprises (SMEs) in Anhui, China. The paper focuses on the interaction of SMEs with the Government, assessed through the development of specific industries as well as ownership and funding by the State, and the origins of the relative weakness of Chinese SMEs' competitive position.

Data were collected from 154 SMEs and analysed using multivariate regressions; the models used the firms' export intensity at the regional, national, and international level as dependent variables. In total seven models were run: the first analysing the industry where SMEs operate, the second and third studying state funding and ownership, and the last four analysing a set of barriers hindering firms' expansion as independent variables.

The results show that: SMEs operating in labour‐intensive industries have better access to international markets; ownership and/or funding by the state do not play an important role in regional, national and international expansion; and there are 11 barriers related to weak management skills and knowledge hindering the expansion of Anhui's SMEs. The findings are then analysed vis‐à‐vis recent works on Chinese firms and conclusions are drawn.

The paper contributes to the increasing body of literature on the expansion of Chinese SMEs by providing an empirical analysis in a region different from the increasingly studied coastal areas.

This paper aims to analyse the characteristics of Chinese multinational corporations in other emerging economies using evidence from Latin America (LA) vis-à-vis the features found in previous studies of Chinese companies operating in developed countries.

It does this by studying the fit of theoretical frameworks recently developed for Chinese firms, the support from the government and the strength of their capabilities in relation to those of local competitors. The analysis is based on case studies with data collected from a theoretical sample of Chinese companies operating in LA.

The results show that these companies seem to be following a pattern similar to that described by Mathews’s (2006) Linkage–Leverage–Learning, that the support from the government does not seem to play an important role in their internationalisation process, that they appear to have developed a set of capabilities strong enough to compete in the host market (in particular how to combine their strengths with those of local partners) and that they are engaged in a positive cycle of development that helps them to overcome some of the challenges and barriers of operating in Latin American emerging markets by complementing/leveraging their strengths with those of local firms.

The findings indicate that Chinese companies are following patterns in their internationalisation to Latin American emerging markets that seems to be a combination of conventional theories (including previous studies on emerging markets-based firms) with idiosyncratic elements.

This paper aims to analyse corporate social responsibility (CSR) initiatives in emerging markets (EMs) from developed countries-based multinational companies (MNCs).

The analysis is based on eight case studies with data collected through in-depth interviews with senior managers of the companies representing 85 per cent of the Spanish foreign investments in Latin America.

The findings tend to indicate that instrumental theories of CSR seem to apply for Western MNCs operating in EMs. CSR initiatives from these companies seem to be guided by instrumental theories, as they use these initiatives as a strategic tool to achieve economic objectives, seek a positive relation between them and their financial performance and use them to strengthen their reputation.

The results of this article resulted from an in-depth analysis of case studies with data collected from a carefully selected theoretical sample with data analysed by following well-established methods like coding, triangulation and pattern matching. This combination was designed to minimise possible concerns in these areas, and as a consequence to strengthen the research design and, therefore, the conclusions of the paper. Measures were taken to minimise possible concerns in this area. The companies were selected for theoretical, not statistical, reasons with the aim to replicate or extend emergent theories, which is one of the main objectives of the research.

Companies are using CSR in EMs as a strategic tool to achieve economic objectives (the main principle behind instrumental theories). MNCs seek a positive relation between CSR initiatives in EMs and their financial performance (also a key principle within instrumental theories). Companies in the sample develop CSR initiatives, including those in EMs, to increase their legitimacy as part of their global reputation rather to deal with host country challenges. Finally, MNCs actively manage stakeholders to strengthen their local reputation as a means to improve financial performance.

Instrumental theories of CSR seem to apply for Western MNCs operating in EMs. These findings highlight the need to continue the study of CSR from Western MNCs in Ems, as the vast majority of academic literature relates to the characteristics of social responsibility initiatives in developed economies.

Instrumental theories apply in a global market for MNCs; in this case, Spanish companies operating in more than 30 countries with a global strategy in CSR and similar objectives.

This paper aims to review and analyse the literature on the internationalisation of companies from China to Latin America (LA).

The approach taken is that of a general review.

The analysis shows that: the vast majority of academic literature relates to the characteristics of Chinese MNCs and their expansion into developed countries; the available evidence tends to suggest that China's MNCs already possess some competitive capabilities that, although not yet completely developed and consolidated to compete against companies in developed countries, seem to have achieved a certain level that allows them to successfully compete in Latin American markets; the Chinese Government has directly participated by committing most of the investments itself and also by signing treaties and trade and investment agreements with more than 20 developing countries; and the current trade and investment figures hint that, in the medium term, Chinese MNCs may be involved in market‐seeking FDI in LA.

These findings seem to question the fit of existing theories with the reality of China's firms and the need for further studies in this area.

The purpose of this article is to analyse patterns of international co‐operation in economics and management research between Ibero‐American countries and between these countries and the USA and Europe.

Taking co‐publications as an indicator, the analysis concentrates on articles published in the list of high‐impact and high‐profile journals used by The Financial Times to draw up its rankings of business schools.

The results obtained show that: the number of articles published by Ibero‐American countries in high‐impact journals is still proportionally small but that an upward trend seems to have been developing in recent years; participation in international co‐operation networks allows researchers from Ibero‐American countries, particularly those countries with less scientific development, to carry out research into relevant topics and to attain the degree of excellence required to publish in the most internationally prestigious journals; and contrary to the findings of other work, geographical proximity, shared history, and common language do not seem to have a significant impact on the flow of academic co‐operation in the field of business administration and economics amongst Ibero‐American countries.

The findings of this paper intend to offer relevant information for research institutions and policy makers to analyse, assess, and improve the research schemes in place.

The purpose of this paper is to look at the impact that unanticipated changes in the exchange rate, specifically the currency crises that took place in Latin America between 1998 and 2004, had on the value of Spanish companies operating in this region. It also studies the strategies, decisions, measures and initiatives that these firms made to improve the effectiveness of their hedging activities. Building upon previous studies in industrialised countries, the study applies a broader perspective as it takes a cross‐functional approach by including finance, strategic planning, marketing and operations management in the analysis.

The paper uses qualitative and quantitative analyses to reach its conclusions. The quantitative study involves a time series regression to calculate a foreign exchange exposure (FOREX) coefficient. The qualitative analysis uses a systematic approach to develop categories from the data gathered in the interviews. Finally, the conclusions from both analyses were summarised and combined. The data was collected from interviews containing structured and open‐ended questions with senior managers and directors of the largest Spanish investors in Latin America.

The research results suggest that foreign companies exposed to exchange risks in emerging markets gain resilience when they take a cross‐functional approach for the assessment and implementation of hedging strategies along with the decentralisation to subsidiaries of the decisions and implementation of hedging initiatives. This helps companies in: elaborating scenarios, assessing the possible impact of exchange rate variations, designing pre‐emptive measures and setting alternative strategies to mitigate potential impacts. This cross‐functional approach to managing risks in emerging markets seems to offer companies higher flexibility and new knowledge that can be shared among subsidiaries working in similar economic and political environments.

The results from this empirical study build upon previous works on FOREX and offer companies an alternative approach to minimise its impacts when operating in emerging markets.