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Microenterprises in emerging economies are known to operate in turbulent and resource-scarce environments. We test our hypothesis that a more comprehensive “Integrated Capital-Based Model” (ICBM) is needed when explaining the performance of microenterprises in such an environment. The model combines traditionally researched financial, human and social capital with more recently emphasized psychological and cognitive capital, providing greater explanatory power than models using only the traditional types of capital.

We use a pooled linear regression to analyze an existing survey of more than 900 independent business owners who were interviewed seven times between 2008 and 2012 in the Accra and Tema marketplaces in Ghana. We measure the performance of microenterprises using three dependent variables (revenue, profits, and productivity). We contrast the explanatory power of ICBM models against the more traditional models.

The ICBM has significantly higher levels of explanatory power over the traditional models in examining the performance of these microenterprises. These results highlight the importance of psychological and cognitive capital in emerging economies.

We advocate for a more comprehensive view of capital as shown in our ICBM. However, the data were gathered only in an urban setting, which limits the generalizability to rural parts of emerging economies.

These findings suggest the utility of government and appropriate agencies finding ways to enhance the level of psychological and cognitive capital of microenterprise owners.

This paper's originality stems from hypothesizing and empirically confirming the higher predictive efficacy of ICBM against more traditionally researched capital sources.

The purpose of this paper is to present a heuristic model to better understand the inherently paradoxical and concomitant positive and negative organizational outcomes associated with demographic diversity and value congruence in organizations. It further illustrates the resultant organizational dynamics that result from shifting levels of diversity and value congruence.

This paper adopts the supply and demand heuristic from the economics discipline and further develops the diversity and similarity curves (DSC) model proposed by Ofori-Dankwa and Julian. Further, this analysis is carried out from both short-run (static) and long-run (dynamic) perspectives.

This study illustrates how different levels of organizational diversity and value congruence (reflected by diversity and similarity curves respectively) could concurrently result in both positive and negative levels of organizational creativity and competitiveness.

As a heuristic, this study's model is a simplistic representation of the inherently complex set of relationships and outcomes that are associated with paradox in a social setting.

This model has managerial utility for explaining how different levels of diversity in an organizational setting could potentially have different positive and negative outcomes.

This study unpacks the implications of different levels of diversity in an organizational setting and sheds original light on the dynamic nature of virtuous and vicious organizational cycles associated with diversity.

There is an established link between national cultural differences and documented variations in technological innovations across countries. To move beyond a narrow emphasis on national cultures, scholars have suggested using within‐country diversity to compensate for known limitations in national culture measures. Given that ethno‐linguistic diversity is a known source of cultural variation, this paper specifically aims to explore the relationship between culture, ethno‐linguistic diversity and national innovativeness.

The researchers used publicly available data on patents and trademarks in a multivariate regression context to study the effects of national culture and within‐country diversity on national levels of innovativeness.

The research found that culture and ethno‐linguistic diversity are independently positively associated with national innovation. More importantly, cultural and intra‐cultural variation measures when taken together account for significantly greater variance in levels of national innovation than does national culture when measured separately.

While this study points to the importance of ethno‐linguistic diversity in explaining national levels of innovativeness, there are other measures of within‐country diversity to be explored.

If national culture were the sole factor in innovativeness, then companies would be limited by their host cultural legacies; since within‐country diversity is also associated with innovation, it provides entrepreneurs, government policy makers and executives with important options for increasing innovativeness.

While previous studies pointed to the potential link between ethno‐linguistic diversity and innovation, prior research has generally not taken this variable into account.

The Truncated Levy Flight (TLF) model has been successfully used to model the return distribution of stock markets in developed economies and a few developing economies such as India. Our primary purpose is to use the TLF to model the S&P 500 and the firms operating in the Ghana Stock Exchange (GSE).

We assess the predictive efficacy of the TLF model by comparing a simulation of the Standard and Poor's 500 (S&P 500) index and that of firms in the stock market in Ghana, using data from the same time period (June 2007–September 2013).

We find that the Levy models relatively accurately models the return distributions of the S&P 500 but does not accurately model the return distributions of firms in the Ghana stock market.

A major limitation is that we examined stock market data only from Ghana, while there are over 29 other African stock markets. We suggest that doctoral students and faculty can compare these stock markets either on the basis of age or the number of firms listed. For example, the oldest stock market was set up in 1883 in Egypt, while the more recent ones were set up in 2012 in the Seychelles and in Somalia.

Scholarly inquiry about the stock markets in Africa represents a rich area of research that we will encourage doctoral students and faculty to go into.

There has been little research done regarding the TLF model and African stock markets and this research has much utility and high level of originality.

Building on the upper echelons theory and sustainability orientation (SO) literature, this paper aims to examine the possibility that the relationship between chief executive officers’ (CEOs’) SO and venture growth might be mediated by levels of corporate social responsibility (CSR) implementation.

The authors used data obtained from 211 new ventures operating in Ghana. Multiple regression analysis was used to test the hypotheses.

The authors found that CSR implementation mediates the relationship between SO and venture growth. In addition, the authors found that, at higher levels of financial slack, the effect of SO on CSR implementation is attenuated. However, the results show that, at higher levels of CEO power, the influence of SO on CSR implementation is amplified.

To the best of the authors’ knowledge, this study is among the first to examine the mediating role of CSR implementation in the relationship between SO and venture growth and also examines two internal contingency factors (i.e. CEO power and financial slack) on this association.

The purpose of this paper is to examine the historical trajectory of African management research and managerial thinking.

This paper draws from a review and synthesis of the literature from 1960

2012.

The analysis led to the identification of three distinct phases which reflect the difficult and uncertain beginning of a promising future. The historical pathway model also accounts for the evolution of management philosophies and thoughts and the current state of knowledge.

Although there is a burgeoning stream of African management research, a lack of comprehensive review and synthesis has obscured the enormous strides made. This paper advances a “novel” approach towards theory application and theory creation, building on the “convergence hypothesis” and “divergence hypothesis”. This analysis yielded a number of promising avenues for future research.

The purpose of this paper is twofold: to publish scholarly works that extend knowledge on the drivers, consequences and boundary conditions of international marketing strategies employed by emerging market firms of all sizes and types; and to advance a narrative for future research on emerging market firms’ international marketing activities.

To achieve this agenda, the authors invited scholars to submit quality manuscripts to the special issue. Manuscripts that addressed the special issue theme from varied theoretical perspectives and methodological approaches were invited.

Out of 70 manuscripts reviewed, 7 are eventually accepted for inclusion in this special issue. The papers touched on interesting research topics bothering on international marketing practices of emerging market firms using blend of interesting theoretical perspectives and variety of methods. Key theoretical perspectives used include resource-based theory, internationalization theory, institutional theory and corporate visual identity theory. The authors employed unique sets of methods including literature review, surveys, panel data, and process-based qualitative and case-study enquiries. The authors used some of the most advanced analytical techniques to analyze their data.

This introduction to the special issue provides a review of the extant literature on the international marketing strategy of emerging market firms, focusing on summarizing key empirical contributions on the topic over the last three decades. Subsequently, the authors discuss how each paper included in this special issue helps advance the agenda to develop scholarly knowledge on emerging market firms’ international marketing strategy.