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Base-of-the-pyramid (BoP) markets are frequently characterized by institutional voids. However, it remains unclear how institutional voids impact corporate and supply chain risk and performance. This intersection will be analyzed in this paper.

This paper presents a systematic literature review of 94 BoP papers published between 2004 and 2019 in peer-reviewed, English-language journals available on Scopus. Drawing upon established frameworks for examining institutional voids, supply chain risks and BoP performance, frequency, and contingency analyses are conducted. Contingencies are established to provide insights into the associations between different constructs from the selected frameworks.

Supply chain risks are pervasive in the BoP discourse, especially when BoP markets are characterized by institutional voids. The frequency analysis of the constructs suggests that the key supply chain risks discussed in the BoP literature include social risk, credit risk, product market and operating uncertainties, knowledge and skill biases and decision-maker risks due to bounded rationality. The contingency analysis suggests that institutional voids are associated with supply chain risks that affect performance.

A theoretical framework aligning three research streams in the context of BoP calls for future studies to test the causality of highlighted constructs that are significantly associated. The analysis is confined to the constructs that are taken into account based on specific conceptual frameworks.

The study provides practitioners with a framework to manage supply chain risks in BoP-related firms to enhance firm performance. Managers can use key dimensions of supply chain risk, such as the product market, the input market and operating uncertainties, to evaluate performance in the BoP context.

Specifically, this research has strengthened the inquiry of supply chain risks in the presence of institutional voids that may have an impact on firm performance

This paper aims to analyse how processes of institutional change in environments of institutional 'voids' affect smallholder farmer market access in Zambia and Malawi, and explores the role of different dis/enabling institutional agents and logics. The authors examine this in the context of two divergent routes of institutional change – one externally imposed and the second driven from within the ecosystem itself. The authors consider how these different institutional processes impact upon smallholder farmers and how they are able to adapt to these changes.

A qualitative research approach is used which lends itself to an analysis of multiple institutional logics that is based upon the multiple positions of market actors. It uses a comparative case study design methodology focused on two broad cases of smallholder farmers in Zambia and Malawi.

The research demonstrates the tension that multiple institutional logics can create especially amongst those most vulnerable particularly where these are not embedded in local realities and mindful of social settings.

It contributes to the understanding of poverty alleviation in rural developing regions, on overcoming institutional voids, market inclusivity and the role of social entrepreneurs and intermediaries, and builds on the perspective of markets as social spaces for economic exchange.

The purpose of this paper is to examine the concepts of escape FDI and institutional voids using an industry study within a large emerging market (China). The author shows how regulatory and structural weaknesses in the Chinese dairy sector may prompt “escape” investment and how outsider firms might use such a strategy to regain competitiveness.

The paper develops and refines an important international business concept which has received very little research attention, within the setting of an industry study.

The concept of escape FDI is critiqued and extended to consider cases where discrimination occurs and industry restructuring triggers escape FDI.

The discussion is based on a single industry and home country. Further work to develop and test these ideas in a broader context is needed.

The author identifies the conditions most likely to trigger escape FDI as well as firm and home country characteristics favouring such a strategy.

The author extends the concept of escape FDI in the context of government-driven structural reform and political discrimination creating favoured “insider” firms and disadvantaged “outsiders”.

Corporate social responsibility (CSR) is a new trend that has swept the world of business by storm. With globalization proceeding unabated and CSR acquiring global interest and resonance, examining how companies can make adaptations to their CSR in an international context becomes a timely and important issue.

Drawing on institutional theory, this study aims to identify three types of host country institutional complexity that accompany the internationalization process, namely, cultural, regulatory and economic, hence necessitating nuanced CSR adaptations in context and as illustrated in this paper requiring different tailoring and adaptation of CSR programs and interventions between developed and developing countries.

The authors propose a series of research propositions for exploration toward broadening and deepening the understanding of the above institutional complexities and the necessity of CSR tailoring and adaptation to accompany the internationalization process.

The paper is one of the first to highlight the necessity of CSR tailoring in the context of the internationalization process while considering host country institutional complexity highlighting nuanced differences between developed and developing country landscapes and implications for how multinational corporations should approach CSR in these differentiated environments.

An international joint venture (IJV) helps multinational enterprises (MNEs) overcome the “liability of foreignness.” However, in the presence of institutional voids, MNE’s overreliance on the local partner can result in the MNE unwittingly becoming involved in a corporate scandal. The purpose of this paper is to discuss the causes, impacts and outcomes on the MNE’s legitimacy following a corporate scandal.

Using secondary data, this paper presents a qualitative case study of the Fonterra-Sanlu milk-powder scandal in China.

The paper identifies the institutional voids that contributed to the scandal. It also examines the effects of the scandal on the MNE’s legitimacies and evaluates the appropriateness of its actions in China during the formation, erosion and repair stages of its legitimacy.

It contributes to legitimacy literature by discussing the importance of MNE’s active commitment when entering the emerging market. It argues that the building of pragmatic legitimacy is not sufficient, and explains why attendance to moral obligations is part of building moral and cognitive legitimacy.

This unique case study of a corporate scandal offers deep insights into how, what and why questions regarding how the three forms of legitimacy are necessary for improving IJV performance by MNEs operating in emerging economies. It particularly highlights the importance of moral legitimacy as a mechanism for overcoming institutional voids.

Using a soft-hard continuum of drivers and barriers, this research seeks to explain wood companies' adoption of circular economy (CE) practices.

Multiple interviews, complemented by secondary documents and site observations were used to investigate three wood-based companies that have adopted CE practices. The 10R framework and soft-hard continuum are used to guide data analysis.

The adoption of 10R practices were explained by soft-factor incentives of leaders' values and vision and openness for innovation, all within a regulatory void, and eventually overcome hard-factor barriers of process development, supply chain capability and customer behaviours at product end-of-life.

Crucial for CE model adoption are leaders' positive attitudes, subsequently grown across the companies. The 10Rs are a prompt for CE practice adoption to capture and retain value and generate revenue. Collaboration across the supply chain, including customers and other value capture companies (e.g. repurposing companies), is essential to maximise value retention. Government should play an increased soft-factor incentive regulatory role and support CE practices to overcome hard-factor barriers.

This study contributes an explanation of CE adoption within a relatively unsupported context. Despite the regulatory void, CE practice adoption was driven by leader values. To achieve their vision and overcome the numerous barriers, suppliers and customers required a large investment in education. Indeed, customer behaviour, previously thought to be an incentive for CE adoption, is also identified as a barrier.

Literature on modes of entry has focussed on firm-level strategies. The predominant theories used are institutional theory and the resource-based view. Using an alternate approach – network theory – this paper aims to demonstrate an additional mode of entry: multiple firms entering together as an extension of an existing loose network, known as a bridging network. The extension of an external network across borders is an appropriate mode of entry in emerging markets, with no pre-existing networks or existing networks within a market that are weak, immature or missing.

A conceptual review, which develops four propositions, demonstrating that market entry with bridging networks may be the preferred mode of entry in the presence of institutional voids. Alternative modes may not be viable because of costs and risks associated with overcoming such voids.

Existing theory and case examples support the contention that market conditions facilitate firms to enter as networks rather than as singular entities. These conditions are found in markets with institutional voids and explain the dominant form of business groups in many countries and the operation of loose strategic alliances in emerging markets. Network entry facilitates market access speed may allow for local ties to remain undeveloped or be a first step in building in-country networks.

This paper heeds to the call for a network ecosystem approach to market entry, arguing that firms may enter as a collective in subsistence and emerging markets, which would explain the preponderance of business groups and loose alliances found.

What seems like a new social anthropology of global regulation is an endeavour much too grand for this paper, even though it has much merit. To contain the analysis which follows, the discussion of social embeddedness will be restricted to a comparison of markets which retain some local or regional integrity from those which have become largely removed from cultural or communal social bonds. An example is between markets trading in goods and services with a consumer base which is local and subsistence, and markets in derivative products that are inextricably dependent on supranational location. The paper aims to discuss these issues.

North World regulatory principle operates within consolidated state frameworks, dislocated market societies and reflects socially disembedded productivity relationships. The same could be said for dominant economic regulatory scholarship. More recent efforts to develop critical analysis of South World regulatory problems and answers have consistently remained connected to the referent of the regulatory state. This paper questions the utility of such a comparative conviction in a global governance reality wherein South World regulatory environments are largely subject to North World state interests and multi-national opportunism fostered by disaggregated, often dysfunctional, domestic states.

If, as in many South World contexts, the state is dysfunctional or destructive in translating regulatory principle, then what are the social bonds which advance the integrity of regulatory principle, and what of externalities which work to draw culturally located principle towards a more hegemonic regulatory project? Could appreciating the relationship between regulatory principle and social bonding be exhibited in degrees of market embeddedness? Might the reimagining of regulatory principle be possible by reflecting on motives and outcomes for regulation that have other than wealth maximization as core value? The paper answers these conjectures as a basis for empirical research.

In the spirit of regulatory anthropology it is not helpful to remain immersed in some strained geographic regulatory dichotomy, employing some good state/bad state polarity. Neither World exists in regulatory isolation. International regulatory organizations ensure this through their Western/Northern development models, and perpetuate post-colonial influences over South World development agendas. That said, there are two regulatory worlds, and hybrids between. Despite this, regulatory principle is not immune from cultural forces and social bonding. The paper addresses various dualities in order to propose a new way of viewing South World regulatory paradigms.

The framework for analysis will enable a repositioning of critical scholarship and regulatory policy away from the model frameworks of consolidated states and towards the real regulatory needs and potentials of the South World.

Through applying the analytical technique of social embeddedness above market community paradigms this analysis offers a novel approach to exploring economy in contexts where markets are not dislocated and products are not fictitious. In this way the contemporary materialist economic crisis can be viewed against principles of sustainability rather than growth, productivity and exchange.

The paper draws upon established scholarship regarding market embeddedness and social bonding but unique in applying this to a South World void of regulatory discourse set free of comparison with inappropriate regulatory state referents.

Brexit has caused a visible disruption to the established and accepted web of rules governing European markets. Our study, based on a survey of Polish firms operating in the UK market, aims to identify Polish firms’ perceptions of Brexit and select characteristics of groups of firms exhibiting similar perceptions of uncertainty. The perception of uncertainty itself was measured along two separate dimensions – uncertainty about future arrangements between the EU and the UK and uncertainty about institutional agility in the UK. The results are analyzed using the cluster method. The findings identify three types of firms that we have named as alarmist, the concerned, and the oasis of peace, within which the largest group are companies that view Brexit as a non-significant threat (the oasis of peace), unlike the other two groups (alarmist and the concerned). Those perceived differently are mostly firms having larger size, greater involvement into the British market and longer-term experience in that market.

This paper aims to examine the impact of political uncertainty and instability caused by the 2011 Egyptian revolution on the corporate social responsibility (CSR) practices of Egyptian firms. The study provides empirical evidence to support the link between political instability, financial performance, stock market uncertainty and CSR in the post-revolution context of Egypt.

Data on CSR practices in Egypt were collected through a survey of Egyptian firms and content analysis of annual reports from publicly traded firms. The final survey sample consisted of 99 listed Egyptian companies. Structural equation modeling was performed to examine the relationship between the variables of this study.

The results of the study show that political instability is perceived to have a significant positive effect on the CSR practices of Egyptian firms. The results also reveal that the financial performance of firms is perceived not to be affected by the political instability after the 2011 Revolution as opposed to stock market uncertainty, which is perceived to be significantly affected. However, financial performance and stock market uncertainty have a significant positive influence on the CSR practices of Egyptian firms.

This paper capitalizes institutional theory to capture the complex interactions between organizations and their external institutional environments. Previous studies tackling CSR in unstable political environments in the African context focused on countries with prolonged periods of violent conflict and on more localized forms of conflicts. Yet, little is known about CSR during the occurrence of different types of political instabilities in other African countries.