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The purpose of this paper is to examine the indirect relationship between dynamic capabilities (DCs) and organizational outcomes through matching and creating market change. In addition, the research aims to gain a deeper understanding of the role of marketing in DCs and to extend beyond a simplistic discussion of DCs by studying proactive market orientation and value innovation as specific DCs.

A questionnaire was developed and data were collected from 270 senior executives. After ensuring reliability and validity, the hypotheses were examined by applying structural equation modeling and Monte Carlo simulation.

The findings indicate that dynamic marketing capabilities (DMCs) are critical in the reconfiguration of operational marketing capabilities, which in turn lead to enhanced organizational performance. The results also suggest that organizations with enhanced DMCs are able to initiate market disruption and achieve superior performance by out-competing their rivals.

The research provides guidelines for managers wanting to exploit their DMCs by showing that organizations can match the environment, create market turbulence or combine both strategies to fully exploit their DMCs. This study also provides managers with actionable tools that are specific, robust and easily applied.

This study is one of the few to incorporate induced market turbulence into the DC literature and conceptualize, develop and validate scales to measure it. The study provides empirical evidence for the claim that operational marketing capabilities are necessary to utilize the benefits of DMCs.

In this paper, the authors aim to introduce international dynamic marketing capabilities (IDMCs) theoretically derived from marketing capabilities (MCs), dynamic marketing capabilities (DMCs) and international marketing capabilities (IMCs) and provide a novel conceptualization of the concept by applying a holistic view of the international enterprise.

This is a literature review that maps the current research on MCs, DMCs and IMCs and serves as a basis for the theoretical conceptualization of a novel IDMCs concept as well as for the identification of research gaps and the development of future research directions on this phenomenon.

Existing typologies of MCs, DMCs and IMCs are classified into four categories: strategic, operational, analytical and value creation capabilities. A new typology of IDMCs is proposed, consisting of digital MC and dynamic internationalization capability as strategic capabilities, agile IMC, IM excellence and absorptive capability in IM as operational capabilities, IM resilience capability, IM knowledge management capability, AI-enabled IDMC and Industry 4.0-enabled IDMC as analytical capabilities, and ambidextrous IM innovation capability as value creation capability. Finally, the authors identify research gaps and develop research questions that open future research avenues for the coming years.

This paper offers a novel view of MCs, DMCs and IMCs and argues that, in contrast to the majority of previous research, a comprehensive understanding of these is only possible if all levels are considered simultaneously: the strategic, the operational, the analytical and the value creation level. A new conceptualization and typology of IDMCs follows this logic.

Artificial intelligence (AI) is intelligence displayed by machines, in contrast with the natural intelligence (NI) displayed by humans and other animals. It is also known as machine intelligence (MI) and is used because a machine mimics the cognitive functions that humans associate with human ability, such as logical reasoning, learning, and problem-solving. From Facebook’s automatic tagging suggestions to driverless cars, AI is rapidly progressing, and therefore, the ethical and moral question now is not whether AI should exist or not. AI exists and is already helping in improving various aspects of life such as health, safety, convenience, and overall standard of living. AI can replace or substitute routine mechanical, repetitive, boring jobs to free and unleash human creative and innovative talent to big thinking projects and humanizing work and society. AI can provide digital assistance in routine day-to-day tasks, detect cancer, diagnose rare diseases, and even prevent car crashes. AI can replace jobs, however, but not human work. Work as a duty, self-actualization and destiny will always continue, if not on the shop or office floors or boardrooms, at home, gardens, places of prayer and worship, and labs of creativity and innovation, in society and civilizations. While AI may indirectly free human talent for more meaningful and creative work, it can rarely participate in higher purposes such as creating bonding and belonging groups, in creating forgiving and compassionate communities, in drumming up small business, startups and corporations, and in harmonizing and humanizing this planet and cosmos for bliss or happiness. This chapter on AI, while investigating its market turbulence, will go beyond the legal aspects to ethical, moral, and spiritual dimensions and sacred opportunities of AI.

The purpose of this paper is to focus on the characteristics, efficiencies and interaction of many alternative market governance modes, by the approach of comparative institutional experimentation.

First, a highly simplified model of market economy is developed, which is embedded in a three‐layer governance structure. Then the model is transplanted into laboratory experimentation, so the characteristics and efficiencies of different governance modes can be identified by observing the subjects' behaviors under them.

The experimental results show that the market with governance structure based on rule is more efficient than the market with governance only based on long relation and based on preference or belief, and the dynamic improvement of governance based on rule has a destructive effect on the governance based on relation and governance based on preference or belief.

These results have profound implications for the development or enhancement of market institutions in transition or developing countries.

The stable and predictable agricultural, infrastructure, manufacturing, and energy economies of hard products have been followed by economies that offer softer products such as services, information, knowledge, health care, digitization, networking, globalization, entertainment, sustainability, and currently, well-being and happiness. Such soft market products are loaded with buyer–seller information asymmetries (BSIA) that create market risk, market uncertainty, market chaos, and ambiguity – all of which are specific types of market turbulence. In this context, this chapter investigates the phenomena of turbulence, specifically environmental turbulence whose major subsets are technological turbulence and market turbulence. We cite several recent geopolitical variables and events that have aggravated market turbulence such as Chinese economic invasion of global markets, global climate change, Brexit, international asylum-seeking migrations, artificial intelligence, and demonetization. We also define market turbulence as varied forms of BSIA for which both marketers and consumers must have appropriate joint responsibility. In addition, we focus on ethical and moral marketing responsibilities for reducing BSIA under each type of turbulence.

The purpose of this paper is to examine the impact of corporate governance, investor sentiment and financial liberalization on downside systematic risk and the interplay of socio-political turbulence on this relationship through static and dynamic panel estimation models.

The evidence is based on a sample of 230 publicly listed non-financial firms from Pakistan Stock Exchange (PSX) over the period 2008–2018. Furthermore, this study analyzes the data through Blundell and Bond (1998) technique in the full sample as well sub-samples (big and small firms).

The authors document that corporate governance mechanism reduces the downside risk, whereas investor sentiment and financial liberalization increase the investors’ exposure toward downside risk. Particularly, the results provide some new insights that the socio-political turbulence as a moderator weakens the impact of corporate governance and strengthens the effect of investor sentiment and financial liberalization on downside risk. Consistent with prior studies, the analysis of sub-samples reveals some statistical variations in large and small-size sampled firms. Theoretically, the findings mainly support agency theory, noise trader theory and the Keynesians hypothesis.

Stock market volatility has become a prime area of concern for investors, policymakers and regulators in emerging economies. Primarily, the existence of market volatility is attributed to weak governance, irrational behavior of market participants, the liberation of financial policies and sociopolitical turbulence. Therefore, the present study provides simultaneous empirical evidence to determine whether corporate governance, investor sentiment and financial liberalization hinder or spur downside risk in an emerging economy. Furthermore, the work relates to a small number of studies that examine the role of socio-political turbulence as a moderator on the relationship of corporate governance, investor sentiment and financial liberalization with downside systematic risk.

The purpose of this study is to reconcile the positive, non-significant and even negative effects of guanxi on firm performance from two aspects. First, it explores the linear and curvilinear relationships between guanxi and distinct performance dimensions. Second, it examines the moderating effects of both exchange-related behavioral risk (reflected by contract enforcement in this study) and market-related environmental risk (reflected by market turbulence in this study) on the above relationship.

Based on data for 206 samples collected from distributors of house furnishings, computers and their components, a moderated regression is used to test the hypotheses.

The empirical test generally supports the conceptual model and demonstrates three findings. First, guanxi has a linear, positive effect on financial performance and an inverted U-shaped effect on strategic performance. Second, contract enforcement decreases the effect of guanxi on financial performance and enhances its effect on strategic performance. Third, market turbulence enhances the effect of guanxi on financial performance and weakens its effect on strategic performance.

First, this study collects data only from China. Future studies should collect data from other emerging markets to allow for either model validation or cross-country comparisons. Second, the data come only from buyers, and suppliers’ viewpoints are not included. Third, in addition to contract enforcement and market turbulence, other important contingencies should be considered in the guanxi–performance link.

The results provide important implications for managers to manage guanxi in an emerging economy. Managers should be very clear about their primary goal (i.e. pursuing short-term financial revenue or long-term strategic targets); next, they should understand how to match guanxi with various levels of contract enforcement and market turbulence to achieve that goal.

First, prior research has documented guanxi’s role in channel relationships, but it has not achieved consistent conclusions. Second, although existing studies have analyzed the contingencies of guanxi at the firm level, market level and institutional level, another important contingency “the dyadic relationship condition” is rarely considered. Third, although the extant research has realized the value of guanxi contingent on various market conditions, conflicting views exist. This study contributes by addressing these issues.

The purpose of this paper is to propose a relational view of supply chain management strategy (RSCMS) and its impact on organizational performance and examine the moderating role of technological and market turbulences on these relationships.

The authors propose a conceptual model that links supply chain (SC) strategies to operational and relational outcomes of organizational performance. The authors follow an interdisciplinary approach by integrating insights from domains such as supply chain management (SCM), operations, marketing, management, management information systems, and technology management.

The proposed RSCMS framework presents 15 propositions that examine SCM strategies and their interrelationships, and examine how these strategies result in superior organizational performance.

Through the RSCMS framework, the authors conceptualize transformation as a higher order SC strategy resulting from collaborative and integrative SCs, and tie the relational SC mix first to operational and relational outcomes and then to organizational performance.

The research provides a better understanding of SC strategies of collaboration, integration, and transformation, along with market and technological turbulences for more efficient and effective SCs.

In this research, the authors propose a unified RSCMS framework of SC mix strategies of collaboration, integration, and transformation and their influence on organizational performance; and explore how the RSCMS framework contributes to theory development, provide insights for managers, and explore avenues for further research.

The aim of this paper is to empirically examine whether environmental turbulence leads to the adoption of high-performance work systems (HPWS) and learning orientation (LO) in organizations and, if so, how these two elements contribute to innovativeness. Past research studies widely demonstrated that HPWS and LO are strong determinants of innovativeness. This study incorporates environmental turbulence as an antecedent and explains the interactions between these concepts.

This paper involves a questionnaire-based survey of 233 firms. For hypothesis testing, structural equation modeling (SEM) was used.

The results revealed the antecedent role of environmental turbulence in HPWS and LO. Additionally, HPWS and LO mediated the relationship between environmental turbulence and organizational innovativeness.

This research has the limitations of a cross-sectional study design. The study draws out some implications for firms facing turbulent conditions and intending to increase their innovativeness by stimulating a learning culture and focusing on human capital through HPWS.

The overarching contribution of this study is to test the assumption that organizations initiate changes in their internal systems as a response to environmental turbulence. By doing so, the study enriches current studies by exploring the mediator role of HPWS and LO between environmental turbulence and innovativeness. This research also contributes to the literature by demonstrating the antecedent role of environmental turbulence in HPWS for the first time. Additionally, it provides evidence for the relationship between environmental turbulence and LO.