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Foreign subsidiaries of multinational enterprises (MNEs) operate in complex and competitive international environments, implement market and non-market strategies, manage resources and value-added activities and contribute to the overall performance of their parent firms. Thus, the research question on the determinants of MNE foreign subsidiaries’ performance is of interest to managers and academic researchers. The empirical literature has flourished over the recent decades; however, the domains are fragmented, and the findings are inclusive. The purpose of this study is to systematically review, analyse and synthesize the empirical articles in this area, identify research gaps and suggest a future research agenda.

This study uses the qualitative content analysis method in reviewing and analysing 150 articles published in 24 scholarly journals during the period 2000–2023.

The literature uses a variety of theoretical perspectives to examine the key determinants of subsidiary performance which can be grouped into six major domains, namely, home- and host country-level factors; distance between home and host countries; the characteristics of parent firms and of subsidiaries; and governance mechanisms (the establishment modes and ownership strategy, subsidiary autonomy and the use of home country expatriates for transferring knowledge from the headquarters and controlling foreign subsidiaries). A range of objective and subjective indicators are used to measure subsidiary performance. Yet, the research shows a lack of broader integration of theories and presents inconsistent theoretical predictions, inconclusive empirical findings and estimation bias, which hinder our understanding of how the determinants independently and jointly shape the performance of foreign subsidiaries.

This study provides a comprehensive, nuanced and systematic review that synthesizes and clarifies the determinants of subsidiary performance, offers deeper insights from both theoretical, methodological and empirical aspects and proposes some promising avenues for future research directions.

Drawing on an organizational learning perspective, this paper examines the effect of levels of foreign market involvement (intensity and geographic spread) on internationalization outcomes recognizing that the moderating influence of entry-mode learning potential is not well documented in the literature on small- and medium-sized enterprises (SMEs).

The sample includes 180 SMEs evenly selected from three industries: biotechnology, software and clothing (60 firms in each industry). The sampled firms employ less than 250 employees and are equally distributed between three developed economies and three emerging economies. All were engaged in foreign business.

The authors find that there is a direct relationship between levels of foreign market involvement and internationalization outcomes. Entry-mode learning potential moderates the relationship between intensity of foreign market involvement and internationalization outcomes but not the relationship between geographic spread and internationalization outcomes.

This study reveals several new insights that help explain the pathway through which foreign market involvement activities are translated into internationalization outcomes.

The authors conclude that the positive relationship between intensity of foreign market involvement and internationalization outcomes is strengthened when SMEs also use an entry mode with a higher learning potential than exporting only.

This study investigated the moderating role of democracy in the relationship between corruption and foreign direct investment. The purpose of this study is to understand whether corruption has different effects on the location decisions of multinational enterprises (MNEs) depending on the regime type.

This study explored how institutional context influenced the impacts of corruption on the location decisions of MNEs, specifically using a sample of Chinese cross-border mergers and acquisitions between 2000 and 2020.

This study assessed the role of democracy in the relationship between corruption and the location decisions of Chinese MNEs. In general, this study found that Chinese MNEs were hindered by host country corruption, but that these detrimental effects were weaker in the presence of more effective democratic institutions.

This study contributes to the literature on institutional factors in international business through its simultaneous investigation of the effects of both democracy and corruption on the location decisions of MNEs. Moreover, there is a prevailing view that Chinese MNEs are willing to enter countries with high corruption, but the results of this study indicate that they are risk-averse in ways similar to their Western counterparts.

The chapter provides an overview of the book and addresses the rationale for the selection of cases reflecting teaching and research in major areas of SDG14. For example, the impact of increasing global sea temperature, ocean acidification, and pollution on aquatic life and biosciences. Fisheries and aquaculture for seafood and marine ingredients and marine protected areas (MPAs) that favour the assemblage of fish, crustaceans, alga, coral, and mussels to enhance and stimulate biodiversity. New products derived from marine biotechnology are viewed to conserve and sustainably use the seas and oceans whilst promoting wealth creation and employment. Marine parks allow scientists to better study the marine environment and explore sustainable balances between tourism, work, and recreation in harmony with the Life Below Water – SDG14 mandate. Finally, the aspects of governance and roles of stakeholders and societal involvement are advocated in achieving the safe and effective use of marine resources. Throughout, the role of higher education in providing educated scientists and multidisciplinary specialists for future generations to come is highlighted.

The purpose is to stimulate scholarship in the strategic management field that accounts for conditions implied by projected impacts of climate change.

Following conceptual logic, the article analyses how changes in the strategic environment brought about by climate change may challenge current strategic management theory. It develops avenues for theory development based on expanding the field’s scope and extending its limits of applicability.

The article highlights the extent to which the strategy field has evolved in a stable empirical context, despite its attention to dynamism and hence is less well aligned with potentially pervasive new pressures and impacts. It sets out a rationale for moving beyond symbolic environmentalism, possibilities to harness cognitive and behavioural insights, dilemmas in strategic innovation and the empirical potential of non-mainstream contexts.

Firms and organisations can expect widespread systemic effects from climate change that challenge established ways of operating. The article explores how strategic management could better support strategists in navigating these shifts such that firms can continue to thrive.

The article approaches the issue of climate change specifically from the perspective of strategic management of firms rather than as policy or social advocacy. It focuses on pressures and characteristics that distinguish climate change from other environmental and social impacts on firms.

The distinctiveness of Japanese management practices offers invaluable insights for the strategic development and operational excellence of small and medium-sized enterprises (SMEs) worldwide. Recognizing this, the purpose of this study is to explore an extensive review of the literature on Japanese SMEs. The aim is to reveal previously explored research domains and to systematically categorize the unique factors contributing to the success and challenges of SMEs. This investigation not only illuminates the peculiarities of Japanese SMEs management but also sets the stage for applying these insights globally to SMEs across diverse industries.

Using a systematic review approach, 63 studies on Japanese SMEs from 1996 to 2021 were identified and analyzed.

This analysis identified six critical themes in Japanese SME management: nuanced firm management practices; forefront innovation and technology; internationalization; supportive government policies; commitment to corporate social responsibility and sustainable development; and vibrant entrepreneurship. The authors also spotlight challenges like navigating global competition and adapting to rapid technological changes. These insights, alongside noted methodological gaps in existing literature, suggest fertile grounds for future research and hold significant implications for SMEs globally.

The investigation of Japanese SMEs in this study highlights valuable insights for SMEs, policymakers and scholars, as it represents a rich and distinctive research phenomenon with various organizational, cultural, economic and political implications.

This study reviews the literature on institutional theory in international business and examines the institutional factors behind the success or failure of multinational corporations (MNCs) in emerging markets.

This systematic literature review analysed 116 peer-reviewed articles published in leading journals between 2005 and 2022. The R package Bibliometrix and VOSviewer visualization software were used for analysis. A hybrid methodology combining bibliometric and content analyses was utilized to obtain a descriptive evaluation of the publication impact along with a keyword co-occurrence map, context-specific institutional effects and subsidiary strategies.

The Journal of International Business Studies, along with influential authors such as Mike W. Peng, Klaus Meyer, and Mehmet Demirbag, have taken the lead in advancing institutional theories for MNC internationalization in emerging markets. The clusters from the co-word analysis revealed dominant MNC entry modes, institutional distances and MNC localization strategies. The content analysis highlights how the institutional environment is operationalized across the macro-, micro- and meso-institutional contexts and how the MNC subsidiary responds in emerging markets. Meso-level interactions emphasize the relational aspects of business strategies in emerging markets.

Contextualizing subsidiary strategies and institutional forms can help managers align their strategic responses to the dynamic relationship between subsidiaries and the institutional environment. The review findings will enable policymakers to simplify regulatory policies and encourage MNC subsidiary networks with local stakeholders in emerging markets.

Legitimacy strategies such as corporate community involvement in emerging markets are crucial for enhancing societal support and removing stakeholders' scepticism for MNC business operations in emerging markets. Moral legitimacy should be implemented by managers, such as lending support to disaster management efforts and humanitarian crises, as they expand to new business environments of emerging markets.

This study is the first to explore institutional diversity and subsidiary strategic responses in a three-layered institutional context. The findings highlight the relevance of contextualizing institutional perspectives for international business scholars and practitioners as they help build context-specific theoretical frameworks and business strategies. Future research recommendations are suggested in the macro-, micro- and meso-institutional contexts.

This paper aims to investigate the divestment behavior of emerging market multinationals from Latin America – multilatinas – by examining how their foreign market entry decision impacts the likelihood of subsidiary divestment.

The hypotheses are tested using Cox’s proportional hazard rate model in a longitudinal database of Brazilian multinational companies established in 43 countries.

Results indicate that these subsidiaries can thrive in environments that bear similarities to their home country, being less likely to divest in institutionally weak countries. Contrary to developed country multinationals, these firms benefit from foreign entry decisions that entail handling partnerships abroad; thus, wholly-owned greenfield (WOGF) investments have a higher likelihood of being divested.

To the best of the authors’ knowledge, this paper is the first to analyze foreign divestment from multilatinas, accounting for how entry mode strategy and host country institutions may impact these firms’ de-internationalization.

The study aims to identify, analyse and develop a model for measuring the inter-relationship and interaction among the inter-partner factors. International joint ventures (IJVs) literature has scantly studied the interactions and inter-relationships among the inter-partner factors of IJVs performance. To address this gap, this research creates a hierarchical relationship framework among the inter-partner factors of IJVs performance.

The comprehensive literature review is used to identify the factors and possible relationships between the factors and IJVs performance. M-TISM (modified total interpretive structural modelling) methodology is used to examine the relationship among the factors of IJVs performance.

This study highlights 12 inter-partner factors that affect IJVs performance. The results suggest that size asymmetry, commitment, goal incongruency, competitive overlap, trust, control, the interdependency of resources, cooperation, economic distance, cultural distance, geographical distance and administrative distance significantly impact IJVs performance. Commitment is found to be a linkage variable as it has high dependence and driving power. Goal incongruency and competitive overlap have high driving power.

This study gives a proposed list of critical inter-partner factors for policymakers and practitioners to consider when developing rules or recommendations to improve IJVs performance. The focus of policymakers should be on economic and geographical distance, followed by cultural distance, competitive overlap, goal incongruency, size asymmetry and administrative distance to improve inter-relationship among the partners in IJVs. The work contributes to the academician by presenting a modified TISM model that highlights the significance of ambidexterity in driving the performance of IJVs.

This study fills a gap in the literature by analysing the interactions among the inter-partner parameters that influence the performance of IJVs. It offers insights into the variables, such as driver dependence and the relationships between the variables.

This study aims to present a bibliometric overview of the academic research on export performance (EP) in the business and management areas.

A bibliometric overview of 1,463 papers from 1968 to 2021, including performance analysis, science mapping analysis and graphical mapping, was conducted using the Scopus database. SciMAT software was used for thematic analysis and conceptual evolution mapping of the EP domain, and VOSviewer software was used for graphical visualization.

This study shows that EP research experienced spectacular growth, especially between 1998 and 2003, and the interest in this field continues to increase. Also, the USA and the UK appear to be the absolute leaders in EP research, with the best indicators of productivity and influence in all dimensions analyzed. The findings from the analysis through SciMAT indicate that “capabilities” and “R&D” are the main Motor themes that have contributed the most to the EP literature, whereas “global value chain” and “start-up” are emerging themes as new areas of interest.

This study develops a baseline for representing certain and exhaustive insights in the EP field and specifies trends over a period. Using a single database and excluding book chapters/conference papers are limitations of this study.

EP is a research field that has gained wide acceptance in the academic community and international marketing literature. To the best of the authors’ knowledge, no bibliometric overview has analyzed the EP literature. This study presents the first systematic quantitative analysis of academic research on EP in the business and management areas.