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Drawing from stakeholder (ST) and social exchange theory (SET), the purpose of this study is to examine the relationship between customer perceived ethicality (CPE), electronic word of mouth (eWOM), customer trust (CT) and customer loyalty (CL). Furthermore, this study aimed to understand the dual role of CPE and eWOM in obtaining CT and achieving CL.

Using a quantitative, cross-sectional research design, data were collected from face-to-face surveys, yielding 358 responses. The partial least square algorithm was used to test the proposed hypothesis.

The analysis revealed that CPE and eWOM positively affect CT and CL, and CT has a mediating effect on the association between CPE–CL and eWOM–CL. CT was also found to positively affect CL.

Hotel managers can prioritize ethical practices and leverage the power of eWOM to build trust and achieve loyalty. This integrated approach not only enhances customer satisfaction and retention but also creates a competitive advantage.

The novelty of this study lies in the investigation of the dual role played by CPE and eWOM as antecedents of CT and CL within the hotel industry. Finally, this study explains the drivers of CT and CL, thereby making a novel contribution to the literature.

The study aims to investigate the relationship between certain key attributes of the board of directors as their international experience, tenure, age, independence and size and internationalization strategies of firms in an emerging economy.

The study uses random effects panel Tobit regression on a data set of 418 Indian companies spanning over a time frame of nine years from fiscal year (F.Y.) 2009–2010 to F.Y. 2017–2018.

Board members substantially associate with internationalization choices of emerging economy firms. Specifically, board members with extensive international experience, shorter tenure, higher age, greater independence and larger board size are associated with high level of internationalization in these firms.

The study advocates that Indian companies should focus on recruiting board members with international experience, periodically refreshing their boards, valuing wisdom and experience, adhering to regulatory requirements of independent directors and increase the number of board members to expand internationally. By following this, Indian companies can successfully expand into international markets.

The study’s originality lies in its focus on the role of board members in the internationalization strategy of emerging economy firms, which remains an under-researched area.

The paper aims to measure the nature and extent of international diversification followed by Indian companies over the period 2009–10 to 2017–18. The study also aims to assess the pattern of transition of companies to various strategies of international diversification.

Jacquemin and Berry’s (1979) entropy approach has been applied to measure the extent and assess the nature of international diversification. Further, the study deploys two-dimensional categorical framework advocated by Vachani (1991) and categorizes the firms into four international diversification strategies.

Larger proportion of companies in internationally low diversification (ILD) strategy reveals low extent of international diversification of Indian companies. The pattern of diversification depicts that the trend of moving forward is speeding up sequentially toward higher strategies of growth. Both the extent and pattern depict that the nature of diversification is shifting from relatedness to un-relatedness with transitions from intra-regions to inter-regions. The study confirms the applicability of eclectic theory and psychic distance Uppsala model in determining the preference of international diversification strategies and process of internationalization respectively in Indian firms.

The paper is first of its kind on account of several reasons. First, such a comprehensive evaluation of preferences for international diversification strategies has never been taken up with reference to emerging economies, especially India. Second, the paper is not static and does not limit itself only to the identification of favored strategies of Indian companies but also gauges the transitional behavior of Indian companies across different strategies at different points of time. In fact it is the first study to statistically research the applicability of psychic distance model in firms in emerging economy. Third, the results not only measure the quantum of international diversification but also assess the extent of relatedness and un-relatedness followed by Indian companies.