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The purpose of this paper is to examine how a country’s change readiness impacts international mergers and acquisitions (M&A) capital flows on a national level toward host countries. The authors unpack the construct of change readiness and identify how its different dimensions impact international M&As (IMA). The authors provide a theoretical framework based on the resource-based view to facilitate an understanding of this concept.

The authors used a fixed-effect analysis to study a sample of 2,970 IMAs announced by publicly traded US companies during 2013–2017.

The authors propose that higher levels of change readiness would help foreign firms to cope with risks and uncertainties generated by the changes and shocks in the environment of a host country. The authors find support for their hypotheses showing that higher levels of change readiness increase the number of IMAs that a country receives every year. This characteristic of the host country shows a significant influence, especially in technology-intensive IMA flows.

This study provides implications for business executives and policymakers both in terms of risk mitigation strategies and investment attraction. Understanding the fact that when it comes to foreign investment in the form of IMAs business executives are aware of the importance of change readiness in host countries might lead to motivate the governments and host country officials to provide better infrastructure to boost the change readiness in their economy.

Overall, this study improves our knowledge about mechanisms through which change readiness of host countries might impact firms' strategies for international expansion. As we are indeed living in the era of global disruptions and strong shocks caused by political turmoil, climate change and the spread of new diseases, this study contributes to the literature on risk mitigation in international business and is one of the first to look closely at the role of host countries' change readiness and the effect it might have on attracting international M&As.

Understanding the mechanism through which digital economy is significantly impacting all dimensions of global economy has become a rising priority in recent years. The purpose of this paper is to investigate the critical role of digital readiness of economies around the world on the performance of international M&As as one of the major corporate strategies for firms' global expansion. We also study circumstances under which digital readiness of an economy matters to international M&As.

The authors examined how digital readiness superiority (or inferiority) of the United States in comparison with host countries impact capital market reaction to international M&As announced by US public companies. To do this study, analysis was run on a sample of 1,393 IMAs by publicly traded US firms during the 2010–2016 period.

The study reveals that those public US companies that target companies in countries, in which the US has superior digital readiness to them, show better performance in terms of investors' reaction (capital market reaction) to the announcement of international M&As. In fact, markets will look at the superiority of US digital readiness to target country as an opportunity for transferring digital capabilities. Moreover, these patterns are pronounced in those M&A deals in which the acquiring company is from high-tech industry. However, interestingly when US companies already have a profitable growth track record or when acquirer and target are in the same industry, the market reacts negatively to this digital superiority.

Overall, this study contributes to a better understanding of the mechanisms through which digitalization of economies impact the performance of multinational enterprises. It adds to the information management literature on corporate global strategy and is one of the first to examine the role of digital readiness on international M&As performance.

The purpose of this paper is to investigate how stress appraisals (i.e. cognitive evaluations) influence entrepreneurial outcomes like expected financial well-being, life satisfaction, business growth and exit intentions.

This study uses a mixed-methods approach to provide methodological triangulation by analyzing data from two independent samples (qualitative data from 100 entrepreneurs in Study 1; quantitative regression analysis of a sample of 142 entrepreneurs in Study 2).

Results from the qualitative exploration (Study 1) show that entrepreneurs appraised venture-related stressors differently as a challenge, threat or hindrance. The quantitative study (Study 2) found that challenge stress appraisals were positively related to expected financial well-being and expected life satisfaction, threat stress appraisals were negatively related to expected financial well-being and positively related to business exit intentions, and hindrance stress appraisals were positively related to expected business growth and negatively related to business exit intentions.

Most entrepreneurship research focuses on stressors rather than appraisals of the stressor. Drawing upon the transactional theory of stress that explains how stress appraisals are an important consideration for understanding the stress process, these two studies showed that stress appraisals differ for each entrepreneur (Study 1) and that stress appraisals explain more variance in many entrepreneurial outcomes than stressors (Study 2).

Corporate governance scholars have built on agency theory premises to document chief executive officers' (CEOs’) debt-based compensation, also known as inside debt, as an effective tool to control excessive risk and deter risky corporate strategies. In this study, the authors draw on behavioral agency model to put these well-established assumptions to the test in a different setting and argue for the context-specific effects of CEOs' long-term compensation.

Focusing on corporate mergers and acquisitions in a post-crisis period (2011–2017), the authors cast doubt on agency theory predictions on debt-like compensation, point to the more realistic assumptions of behavioral decision models, and call for more contingency approaches in theoretical arguments.

An analysis of more than 4000 observations reveals that neither CEOs nor shareholders react significantly to inside debt after the economy recovers. Firm risk is also influenced only marginally by long-term compensation in a normal period of time.

While extant literature is rather unanimous on risk-reducing impact of inside debt, the study periods span the financial crisis of 2007. This research is the first conducted in regular times to demonstrate that previous findings are biased and heavily influenced by an exogenous shock.

The study examines how the interactions among three prominent institutional logics—state, market and religion—fundamentally shape the patterns of individuals’ engagement in social entrepreneurship (SE).

The study develops a configurational theoretical framework and uses fuzzy-set qualitative comparative analysis to test the hypotheses by gathering data on social ventures from 35 countries from the World Values Survey and Global Entrepreneurship Monitor.

The results show that the prevalence of social entrepreneurial ventures is enabled by different combinations of logics of action, governance mechanisms, strength of religious beliefs and religious pluralism.

This research reveals that the relationship between institutional logic profiles and SE is contingent on the coherence between different institutional logics.