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In a globalized world where emerging markets are more important than ever, there is an increasing pressure on international businesses and governments to work together. The set of facilities known as commercial diplomacy combines the interests of both by highlighting new markets and investment opportunities.

In this chapter, we present a literature review based on 56 relevant publications to assess what we currently know of this important activity.

The results indicate that research on commercial diplomacy consists of many subtopics, resulting in a patchy understanding of the topic as a whole.

We discuss why integrative research focusing on the business–government relationship and the organization and the value of commercial diplomacy are needed from an international business perspective.

This chapter describes the business goals, purpose, and strategy of public diplomatic services. It reinforces diplomatic organizations’ fundamental bureaucratic administrative culture (Tier 1). The bureaucratic culture of diplomacy is deconstructed, and each of the five layers is described in detail. The authors also explain why focusing on the artifacts and behavior layers are the dominant and essential starting points for analysis in diplomatic cultures. The public service culture (Tier 2) overlays and mediates the bureaucratic culture.

Additionally, the authors describe the influence that political appointees as leaders may play in shaping public service cultures. Next, the authors explain how diplomatic cultures reflect the core values of a state’s culture. Next, the chapter outlines the landscape of external influencing cultures (Tier 3) in diplomacy. Finally, the knowledge, learning, and collaboration (KLC) culture of diplomacy is considered, with opportunities for future growth.

In an ongoing process of globalization and technology improvements and due to an increase in worldwide actors in the economic sector, commercial diplomacy is an important tool for countries to support their business community during the internationalization process and afterwards. Nevertheless, commercial diplomacy literature is still in its infancy. Therefore, this chapter reviews existing research on the topic and develops a framework, which integrates the topics examined so far and provides the reader with a more complete picture of the topic at hand.

By means of a literature review, this chapter shows that the body of literature involving research of both disciplines, International Relations and International Management, is still rather limited. As a consequence, we determine a future research agenda and call for more empirical studies, especially in the field of (political) economy.

This chapter is part of a strand of studies dedicated to tourism events and territorial marketing strategies and focuses on the role of communication in an event-based strategy. Events can attract tourist flows, spread the territorial image, stimulate investment, and contribute to the territorial brand. Therefore, their role becomes increasingly important for an effective territorial and tourism marketing strategy. In the events sector, communication plays a key role in shaping marketing policies, which increasingly involve interaction between actors and the use of technology. To build and communicate an event is essential to implement social media marketing strategies that foster sharing of content that significantly influences user behavior. However, the academic literature on the role of social media in event management is limited. Therefore, this study has a twofold objective: to conduct a review of the literature to systematize and contextualize existing knowledge and to identify the main benefits and risks involved in the use of social networks in events.

With the increasing importance of social media in promoting events, understanding the relationship between event followers' motivations and their behaviors on an event's social media platform becomes a key success factor to attract event-goers. Previous studies on exploring the relationship between social media and event attendees have concentrated mostly on a Western context social media, for example, Facebook, and Western festivals; studies concerning the East or China are scant. This study uses the Strawberry Music Festival in China as a case study and researches its two official social media platforms: WeChat and Weibo.

The research explores the hedonic and utilitarian motivation of social media followers and investigates followers' browsing and participation behaviors as well as the influence of their usage behaviors on intentions to attend an event. A total of 190 valid responses were collected through an online questionnaire from social media followers of the music festival.

The findings reveal that both utilitarian and hedonic motivation have significant effects on browsing and participation behaviors. More importantly, browsing and participation behaviors also affect the intentions to attend an event and the electronic word-of-mouth (eWOM) effect.

The research results provide practical insights for event organizers regarding potential event-goers' usage patterns on social media platforms and their intention to visit events.

This study contributes to the authors’ understanding of the relationship between event attendance and social media behavior, in particular of the East.

This study reinvestigates the short-run and long-run inflation-hedging attributes of residential property assets in the Nigerian property market, based on variations in property types and location.

Data used for this study comprised the holding period returns of three residential property types, namely bungalow, block of flats and detached house during 1999–2018. These were obtained from property practitioners in Lagos, Abuja and Port Harcourt, respectively. The inflation values obtained from the National Bureau of Statistics were split into actual, expected and unexpected components. Fama and Schwert’s (1977) ordered least square (OLS) regression was used to assess the short-term inflation hedging efficacy. Afterwards, the long-run link between residential property and inflation was examined using the Johansen and Juselius cointegration test.

The results showed that despite the variations in hedging behaviour across property types in the three locations, residential property assets significantly provided protection over actual, expected and unexpected inflation in the short run based on the OLS regression analysis. The result of the Johansen and Juselius cointegration test also established a long-term link between the residential property assets and actual inflation. However, mixed results were found on the link between residential property and expected and unexpected inflation, as some of the assets did not effectively hedge these inflation components in the long run.

The study implied that the differences in property types and geographic locations are crucial in establishing the short-run and long-run inflation-hedging attributes of residential property assets and should be factored into consideration.

The paper complements the existing body of knowledge on the inflation-hedging attributes of residential property in emerging markets by determining the effects of variation in house types and geographic differences on the analysis.

The global economic power shift towards the East has caused the governments of developed economies to support national businesses which are involved in the process of internationalizing and expanding across borders. Commercial diplomacy provides a means for governments to increase their international trade and to stimulate their national economies. Foreign posts play a crucial role in offering effective diplomatic support for international business. But what are the factors that can explain commercial diplomacy effectiveness at the foreign post level? This chapter presents the results of a survey that was conducted among commercial diplomats stationed at foreign posts. It appears that the amount of experience that commercial diplomats acquired at these foreign posts, combined with their established business network, form two of the most important factors which have a positive impact on the quality of commercial diplomacy. This extends further to include the importance of the client (business) preparedness in terms of knowledge and skills as well. Furthermore, the results indicate that the less favourable a cognitive institutional environment in a host country is, for instance in terms of information availability, the more relevance commercial diplomacy will have. The results of this study promote the understanding of how commercial diplomacy works and show how the debate on the future of commercial diplomacy can be taken a step further. This study should also be seen as a starting point for a holistic framework of commercial diplomacy effectiveness.