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Careers have come to dominate contemporary discourse on gendered entrepreneurship. This paper aims to explore entrepreneurial careers as recounted by commercially successful female entrepreneurs to examine how they strategize to construct desirable careers in contexts characterized by underdeveloped markets and weak institutions.

Using a qualitative research design, data for our inquiry come from publicly available life history accounts of 20 female entrepreneurs appearing on an enterprise focus television show in Nigeria. The authors supplemented the television interview data with archival data in the form of publicly available digital footprints of the entrepreneurs collected from their company websites, magazines, online newspapers featuring these entrepreneurs and their social media pages such as LinkedIn, Wikipedia, Facebook and Instagram.

The careers of female entrepreneurs operating in context of underdeveloped institution and markets, the authors found, are characterized by four heterogeneous ingrained dispositions and actions reflecting how they got in and got on with their entrepreneurial careers: (1) “Observing and playing business,” (2) traipsing the “path less traveled,” (3) a hook to the “Pierian spring” of entrepreneurship and (4) “Grace under pressure” in decision-making.

The authors contribute to the entrepreneurship literature by providing insight into the lived experiences, agency and careers of commercially successful female entrepreneurs as played out in the form of a contextual practice of “wayfinding” to starting up and managing their own business ventures.

The purpose of this study is to use the rise of emerging-market multinationals as a vehicle to explore how a firm’s country of origin influences its internationalization.

This paper is a conceptual paper.

We argue that the home country’s institutional and economic underdevelopment can influence the internationalization of firms in two ways. First, emerging-market firms may leverage innovations made at home to cope with underdeveloped institutions or economic backwardness to gain a competitive advantage abroad, especially in other emerging markets; We call this innovation-based internationalization. Second, they may expand into countries that are more developed or have better institutions to escape weaknesses on these fronts at home; we call this escape-based internationalization.

Comparative disadvantages influence the internationalization of the firm differently from comparative advantage, as it forces the firm to actively upgrade its firm-specific advantage and internationalize.

We explain two drivers of internationalization that managers operating in emerging markets can consider when facing disadvantages in their home countries and follow several strategies, namely, trickle-up innovation, self-reliant innovation, improvisation management, self-reliance management, technological escape, marketing escape, institutional escape and discriminatory escape.

We explain how a firm’s home country’s comparative disadvantage, not just its comparative advantage, can spur firms its internationalization.

This study aims to verify the respective and interactive effects of subnational formal and informal institutions (i.e. legal effectiveness and social trust) on foreign firm performance, and further identify the contingent factor (i.e. institutional experience) that moderates these relationships.

Drawing on the institutional-based view, this study develops several hypotheses that are tested using a comprehensive dataset from four main data sources. The authors’ unit of analysis is foreign firms operating in China. The authors ran ordinary least squares (OLS) regression model to investigate the effects. A series of robustness tests and endogeneity tests were performed.

The results show that both legal effectiveness and social trust at subnational level positively affect foreign firm performance respectively. Legal effectiveness and social trust at subnational level have complementary effect in promoting the performance of foreign firms. Foreign firm's institutional experience in target region of emerging economies host country strengthens the positive impact of subnational legal effectiveness on performance, but weakens the positive impact of subnational social trust on performance.

It is important to fully understand the impact of heterogeneous institutional environments of subnational regions in emerging economies on foreign firm performance, which would help foreign firm make a more suitable secondary choice decision of investment destinations at the subnational regional level.

First, drawing on institutional-based view, the authors incorporate the subnational formal and informal institutional factors to investigate their impacts on foreign firm performance by switching the attention from national level to subnational level in emerging economy host countries. Second, this research furthers existing studies by bridging a missing link between both subnational formal and informal institutional environments and foreign firms' outcomes. Third, the authors prove that the model of subnational formal and informal institutions in influencing foreign firms' performance is contingent on their institutional experience in target subnational region of emerging economy host country.

The impact of network centrality on innovation performance is inconclusive. The purpose of this paper is to examine how formal and informal institutions affect the influence of network centrality on firms’ innovation performance in emerging economies by integrating social network theory and institutional theory.

Multisource and lagged data from 234 technology-based entrepreneurial firms listed on the Chinese Growth Enterprise Market were leveraged to test a proposed research model.

Results suggest that formal institutions (marketization) positively moderate the relationship between network centrality and innovation performance, whereas informal institutions (social cohesion) negatively moderate this relationship. Moreover, formal and informal institutions have a strong joint impact on such relationship, that is, the effect of network centrality on innovation performance is most positive when marketization is high and social cohesion is low.

This empirical research provides new insights into whether and how firms can grasp the innovation benefits of network centrality by exploring institutional contingencies. It further sheds on light the scope of the network centrality–innovation issue by extending its research context to Chinese entrepreneurial firms.

Our understanding of the influence of institutional conditions on process innovation is still limited, despite managers’ need to know which factors should be considered in decision-making and governments should be aware of how to foster process innovation through the provision of attractive institutions. Therefore, this paper aims to examine how institutional dimensions such as workforce, political instability, labor regulation, corruption, tax administration and transportation influence process innovation in smaller firms located in emerging countries other than the BRICS (Brazil, Russia, India, China and South Africa).

A data set from the World Bank Enterprise Surveys questioning over 20,000 companies from 41 emerging countries supplemented by the gross domestic product (GDP) per capita for each country was used and analyzed by the means of general linear mixed models. The analysis emphasized small- and medium-sized enterprises (SMEs) and excluded BRICS countries.

The findings demonstrate which institutional factors matter for process innovation depending on company size and GDP.

This paper advances research on the influence of institutions on firm innovation – the institution–process innovation relationship in emerging countries other than the BRICS in particular. By considering the role of company size and GDP per capita on the institution–process innovation relationship, the paper offers more nuanced insights compared with prior studies and thus makes a strong contribution to the innovation theory. The data used are not suitable for a longitudinal study the same refers to capturing the variety found in the countries even those coming from the same geographic area.

The results provide practitioners, e.g. managers of SMEs, with concrete ideas on how to improve process innovation in their companies. Other actors such as policymakers too can benefit from the results as they will allow the design of more target group-oriented measures, aspects that can ultimately lead to more sustainable businesses.

By focusing on process innovation and emerging countries, the paper contributes to growing research efforts in emerging countries beyond the BRICS. Thus, the results add more diversity to the study of process innovation and its influencing external (institutional) factors. The emphasis on SMEs also allows us to highlight differences between different categories of SMEs.

This paper aims to examine how a firm’s capability affects its political networking in emerging economies and how the institutional environment influences the relationship between a firm’s capability and its political networking.

The authors test the theoretical model by analyzing a database from a World Bank survey in China.

The results show a nonlinear (U-shaped) relationship between a firm’s capability and its efforts in political networking. The relationship between a firm’s capability and political networking is contingent on the institutional environment, as reflected in institutional development and industry regulation.

This study elucidates political networking in emerging economies and contributes to research on corporate political strategy.

Across country and regional borders firms are faced with the question whether to address individual markets on a stand-alone basis or cooperatively. In order to support such strategic decisions, this paper aims to develop a decision framework accounting for the most relevant market dynamics affecting joint venture (JV) decisions, particularly in the truck industry. Moreover, the authors apply the framework to an expert Delphi and scenario approach to back a Western original equipment manufacturers (OEM’s) JV decision in the truck industry in Russia. Based on country-specific projections structured along the globally applicable decision framework, the authors serve executives’ individual information demand in an institutionally unique emerging market environment.

Online real-time expert Delphi study; scenario analysis; and expert workshops were used in this study.

Among other insights, the results predict hard times for Russian OEMs as they will likely face strong foreign competition, leading to decreased sales volumes and market shares. Although some experts doubt the survival of several Russian truck manufacturers, the Delphi sheds light on possible strategic responses, including consolidation, cooperation or focusing on new markets. Based on the Delphi results and an additional expert workshop, we draw multiple scenarios addressing, particularly, uncertain aspects of the industry’s development and their likely impact on the key stakeholder groups.

Although there are some studies following a similar methodological approach as that in this study (von der Gracht and Darkow, 2010; Gnatzy and Moser, 2012), the authors break new ground in developing a JV-dedicated decision framework and applying it to a special emerging market industry setup.

The rule of law and an efficient legal system are the core factors that ensure growth in BRIC economies. Weak institutions and failures with respect to the rule of law in Russia call into question its position as one of the BRIC countries. The purpose of this paper is to propose that the legitimization of newly created formal legal institutions in Russia is impossible without a new set of values that reflect the ideals of professionalism. It aims to explore the role institutional stakeholders play in establishment of the new set of professional values.

A survey of existing legislation and academic research on professionalism and the development of the legal profession in Russia was undertaken to determine the state of the development of its formal and informal legal institutions. The role of stakeholders in the development of new professional institutions was also examined.

The paper finds that the creation of formal institutions supporting the rule of law in Russia is largely completed. Yet, in some cases the institutions lack legitimacy and public trust. Professionalism – a vital informal institution that promotes trust in legal systems and legitimizes its formal institutions is in the process of development. The agents of professional socialization such as the state, educational institutions, professional bodies and organizations play different roles in development of professionalism. Potential avenues for enhancing legal professionalism by the agents of socialization are identified.

The current study contributes to the literature on institutional change in transition economies and suggests a complicated relationship between various formal and informal institutions in the Russian legal sector. Future empirical research should focus on the investigation of the newly forming informal institutions and the impact of old informal institutions on this process.

Companies doing business in Russia should be aware of the fact that the legal systems in the country are still in the process of development. Even though major formal legal institutions have already been created, some informal institutions still represent a serious challenge to safe and efficient business in the country.

The paper contains ideas for the future development of legal professionalism in Russia.

The purpose of this paper is to uncover the underlying drivers of sustained high performing companies based on a field study of 127 companies in Brazilian, Russian, Indian and Chinese (BRIC) and Association of Southeast Asian Nations (ASEAN) emerging markets. Understanding these companies provides a complementary way of appraising the growth, development and transformation of emerging markets. The authors synthesize the findings in an overarching framework that covers six strategies for building and sustaining legacy that leads to the succession of intergenerational wealth over time: overcoming institutional voids, inclusive markets, deepening localization, nurturing government support, building core competencies and harnessing human capital. The authors relate these strategies to different levels of development using Prahalad and Hart’s BOP framework.

This study examines the underlying drivers of sustained high-performance companies based on field studies from an initial set of 105,260 BRIC companies and close to 500 companies in ASEAN. The methods employed four screening tests to arrive at a selection of the highest-performing firms: 70 firms in the BRIC nations and 58 firms from ASEAN. Following the selection, the authors constructed cases using primary interviews and secondary data, with the assistance of Ernst & Young and with academic colleagues in Manila. These studies were originally conducted in two separate time periods and reported accordingly. This paper synthesizes the findings of these two studies to arrive at an extended integrative framework.

From the cases, the authors examine six strategies for building and sustaining legacy that lead to high performance over time: overcoming institutional voids, creating inclusive markets, deepening localization, nurturing government support, building core competencies and harnessing human capital. To address the evolving state of institutional voids in these countries, the authors employ similar methods to hypothesize the placement of these strategies in the context of the world economic pyramid, initially formulated as the “bottom of the pyramid” framework.

This paper synthesizes and extends the authors’ previous works by proposing the concept of legacy to describe the emergence and succession of local exemplary firms in emerging markets. This study aims to complement extant measures of nation-growth based primarily on GDP. The paper also extends the literature on institutional voids in shifting the focus from the mix of voids to their evolving state. Altogether, the paper provides a complementary narrative on assessing the market potential of emerging markets by adopting several categories of performance.

The purpose of this study is to investigate how concentrated owners add value to Asian firms. While prior research suggests that relational owners (i.e., business groups, top management team, board, government, banks, families, and corporation) may help firms fill institutional voids, this study proposes that it is transactional owners (i.e., foreign and institutional investors) lacking this ability who contribute most to firm performance. As these owners frequently hail from contexts with well-developed corporate governance traditions, they tend to have experience with the design and implementation of such governance practices.

This study involves a meta-analysis covering 276 studies from 17 Asian countries.

This study shows that transactional owners impose effective governance practices such as separating the chief executive officer (CEO) and Chair roles and assuring board independence. These practices promote decisions benefiting all shareholders, such as preventing diversification and financial over-leveraging.

This study contributes to the comparative corporate governance literature by showing that implementing internal governance practices helps improve firm performance in Asia. It also contributes to the owner identity literature by opening the black box of how transactional and relational owners differentially affect firms’ strategic behavior. Overall, this study yields a more nuanced understanding of what transactional owners contribute to Asian firms.