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This paper empirically tests the impact of capital sudden stops on the economic growth using quarterly data from 49 emerging economies.

This paper applies the GMM dynamic panel estimation method.

The results show that capital sudden stops can significantly inhibit the economic growth of emerging economies. It was also found that the inhibiting effect on low-savings-rate economies is greater, but less on high-savings-rate economies. In addition, this paper examined the impact of different types of capital sudden stops on economic growth in emerging economies. The results reveal that the impact of sudden stops of direct investment is not significant.

Little existing research considers the impact of capital sudden stops through the perspective of savings rate differences. Based on our research using the GMM model, we argue that capital sudden stops will lead to a decline in investment kinetic energy in emerging economies, and therefore, a decline in economic growth. There are also few studies on the economic effects of capital sudden stops. And the time series model is generally used in a single economy. This paper, however, uses the data from 49 emerging economies and takes the panel approach to more comprehensively study the capital sudden stops of emerging economies.

This study aims to undertake a review of the circular economy (CE) and business model (BM) literature by conducting a thematic analysis and developing a framework.

To address the research questions, a systematic literature review was conducted. Finally, 106 publications were chosen based on two main criteria.

The authors performed an athematic analysis of CE drivers. This analysis identifies five key areas: environmental, economic, social, regulatory and institutional factors, as well as emerging approaches for addressing CE drivers. A framework for the circular economy business model (CEBM) has been developed by integrating BM value dimensions and three primary CE strategies, including closing, slowing and narrowing resource loops. Additionally, the authors’ framework considers the CEBM’s sustainability impact in emerging economies.

This study is limited in two ways: one is inherent in the concept of CE, particularly CEBM, and the other is methodological.

This study contributes to the body of knowledge about CE and BM in three ways. First, this research includes a thematic analysis of CE drivers, as well as themes and subthemes. Additionally, the authors discuss an emerging approach for CE drivers. Second, the authors make a contribution by proposing a framework for CEBM that takes value dimensions and CE strategies into account for the emerging economy context. Third, the authors shed light on potential avenues for further research.

Anecdotal evidence suggests that emerging economy enterprises face higher uncertainty in business operations compared to their counterparts in more developed economies. However, there is little empirical evidence on this issue. The objective of this study is to fill this void in the literature and examine whether there is an association between the level of development of home country economy of a multinational corporation and uncertainty about future earnings measured by dispersion in analysts' earnings forecasts. After controlling for various firm‐ and country‐level factors, I find that the forecast dispersion tends to be larger for emerging economy enterprises (i.e., non‐U.S. firms cross‐listed in the U.S. whose home country economy is better characterized as emerging) than for developed economy enterprises (i.e., non‐U.S. firms cross‐listed in the U.S. whose home country economy is better characterized as developed), despite the fact that the emerging economy enterprises tend to be more heavily followed by analysts. Overall, the evidence supports the view that business uncertainty tends to be higher in emerging economies and highlights inherent difficulties associated with predicting future firm performance of the emerging economy enterprises.

This paper aims to contribute to the literature on global talent management by examining how multinational corporations (MNCs) from developed and emerging economies manage talented employees in other emerging economies. Specifically, it aims to understand why MNCs from developed economies are likely to face lower levels of challenge than MNCs from emerging economies when translating corporate-level talent management strategies to their subsidiaries located in emerging economies and how local contextual factors influence the translation processes.

This paper undertakes a matched-case comparison of two MNCs, one from a developed economy and the other from an emerging economy, that operate in the emerging economy of Thailand. Evidence was obtained from semi-structured interviews field visits and a review of archival documents and Web resources.

Based on the obtained evidence, this paper proposes that MNCs from developed economies tend to face challenges in terms of skill shortages, and these challenges affect their translation of talent management strategies to the subsidiary level. By contrast, MNCs from emerging economies tend to face challenges in terms of both skill shortages and the liability of origin (LOR) (i.e. weak employer branding) in the translation process. Both groups of MNCs are likely to develop talent management practices at the subsidiary level to address the challenge of successfully competing in the context of emerging economies.

One limitation of this research is its methodology. Because this research is based on a matched-case comparison of an MNC from a developed economy and an MNC from an emerging economy, both of which operate in the emerging economy of Thailand, it does not claim generalizability to all MNCs and to other emerging economies. Rather, the results of this research should lead to further discussion of how MNCs from developed and emerging economies translate corporate-level talent management strategies into subsidiary-level practices to survive in other emerging economies. However, one important issue here is that there may be a tension between the use of expatriates and local top managers at MNCs’ subsidiaries located in other emerging economies as drivers for knowledge sourcing in that the importance of expatriates may diminish over time as the subsidiaries located in those economies age (Dahms, 2019). In this regard, future research in the area of global talent management should pay special attention to this issue. The other important issue here is that it is possible that the two case study MNCs are very different from one another because of their organizational development stage, history and current globalization stage. Thus, this issue may also influence the types of talent management strategies and practices that the two case study MNCs have developed in different countries. In particular, MNCs from emerging economies (ICBC) may not have developed their global HR strategies, as they have not yet operated globally as in the case of MNCs from developed economies (Citibank). This can be another important issue for future research. Additionally, both MNCs examined in this research operate in the banking industry. This study, therefore, omits MNCs that operate in other industries such as the automobile industry and the hotel and resort industry. Future researchers can explore how both groups of MNCs in other industries translate their talent management strategies into practices when they operate in other emerging economies. Moreover, this study focuses only on two primary contextual factors, the skill-shortage problem and LOR; future research can explore other local contextual factors, such as the national culture, and their impact on the translation of talent management strategies into practices. Furthermore, quantitative studies that use large sample sizes of both groups of MNCs across industries might be useful in deepening our understanding of talent management. Finally, a comparison of talent management strategies and practices between Japanese MNCs and European MNCs that operate in Thailand would also be interesting.

The HR professionals and managers of MNCs that operate in emerging economies or of companies that aim to internationalize their business to emerging economies must pay attention to local institutional structures, including national skill formation systems, to successfully implement talent management practices in emerging economies. Additionally, in the case of MNCs from emerging economies, HR professionals and managers must understand the concept of LOR and look for ways to alleviate this problem to ensure the success of talent management in both developed economies and other emerging economies.

This paper provides policy implications for the government in Thailand and in other emerging economies where the skill-shortage problem is particularly severe. Specifically, these governments should pay attention to solving the problem of occupation-level skill shortages to alleviate the severe competition for talented candidates among firms in the labor market.

This paper contributes to the prior literature on talent management in several ways. First, this paper is among the first empirical, qualitative papers that aim to extend the literature on global talent management by focusing on how MNCs from different groups of countries (i.e. developed economies and emerging economies) manage talented employees in the emerging economy of Thailand. Second, this paper demonstrates that the institutional structures of emerging economies play an important role in shaping the talent management practices adopted by the subsidiaries of MNCs that operate in these countries. In this regard, comparative institutionalism theory helps explain the importance of recognizing institutional structures in emerging economies for the purpose of developing effective talent management practices. Finally, there is scarce research on talent management in the underresearched country of Thailand. This study should, therefore, assist managers who wish to implement corporate-to-subsidiary translation strategies in Thailand and other emerging economies.

The purpose of this paper is to explore the perceptions of Generation Y from advanced and emerging economies towards the country-of-origin (COO) of fashion products.

The study was conducted by employing a qualitative research method. Virtual interviews in a chat room and e-mail interviews were conducted with 53 participants from 21 advanced and emerging economies.

The findings indicated that most Generation Y consumers perceive that fashion products made in advanced economies are of better quality compared to those made in emerging economies. However, most Generation Y consumers from advanced economies did not only pay attention to the quality of the products but also to associated ethical issues. In contrast, most Generation Y consumers from emerging economies only paid attention to functional issues. Furthermore, Generation Y’s perceptions of COO also influence their attitudes and behaviour towards the fashion products made in their own country.

This research brings a valuable insight to global fashion marketers about different perceptions between Generation Y consumers in advanced and emerging economies towards COO.

The majority of COO research has been conducted quantitatively and based on one or a small number of nationalities. Qualitative studies which investigate the perceptions of Generation Y from advanced and emerging economies towards COO are still limited. Thus, this study can contribute to the development of research into COO.

The purpose of this article is to analyze the impact of the rise of emerging economies and emerging economy firms on multinational corporations (MNCs) with respect to four important strategic decisions for MNCs' foreign investment – control and coordination strategies, geographic and product markets of entry, timing of entry, and organizational design for foreign subsidiaries.

The author utilizes an integration of institutional perspective with the existing explanations of MNC activities, to support their arguments about the impact of the rise of emerging economies on MNCs' strategy and structure decisions. The author presents propositions linking the type of external governance structure in the emerging economy's institutional environment (rule based or relationship based) with the strategy and structure decisions for MNCs.

The paper proposes that MNCs will follow different control and coordination strategies, geographic and product market strategies, entry timing strategies and organizational design strategies depending on whether the target emerging economy's institutional environment is characterized by a rule based or a relationship based governance structure.

Increasing globalization and rapid rise of emerging economies and emerging economy firms has not only opened up many opportunities for MNCs, but also raised many challenges. Extant literature has, however, not paid enough attention to how MNCs can best make use of the opportunities available in emerging markets, while taking care of the associated challenges. This paper is unique in providing a holistic framework pertaining to important strategic decisions that MNCs have to make, with specific reference to emerging markets.

The purpose of this paper is to investigate the impact of R&D sourcing strategies and their governance modes on basic and developmental R&D. Following the concept of cognitive distance, this research proposes that there are trade-offs between basic and developmental R&D when emerging economy firms engage in different R&D sourcing strategies. R&D sourcing can enable emerging economy firms to access different level of heterogeneity of knowledge inputs depending on the cognitive distance between the firm and its suppliers. Distance in cognition increases when firms obtain knowledge from abroad and independent suppliers in comparison to the acquisition of knowledge from home boundaries and affiliates.

Tobit maximum likelihood estimation approach is used.

Using data from Turkish firms, this study finds out that offshore R&D with an outsourcing governance mode affects basic R&D. In contrast, domestic R&D with an insourcing mode influences developmental R&D.

This research extends recent efforts to better understand the determinants of different R&D types by examining offshore and domestic R&D together and by taking into account different governance modes of each R&D sourcing strategy. This study becomes important because it investigates this issue from the perspective of emerging economy firms.

The purpose of this paper is to explore location effects on firm performance in emerging economies simultaneously accounting for permanent and transitory country, industry, country-industry and firm-specific effects.

The authors utilize a novel methodological approach: an autoregressive, cross-classified, mixed-effect linear regression model that allows them to simultaneously estimate a permanent (long-run) component, a transitory (short-run) component and the speed of decay of the transitory (autoregressive) component.

The authors find that the firm-specific effect is most important in explaining permanent and transitory differences. The country–industry interaction is the second most important effect, confirming that industries are not completely global and are still subject to country conditions. Broader views of the country–business context and industry conditions taken independently would be incomplete unless the country–industry interactions are considered. In other words, country matters because industry matters and vice versa. Country effects are also significant, but only transitory emphasizing the dynamic nature of emerging economies and the shortcomings that may result from considering the country business context static. Finally, the authors find that the chances of achieving sustainability of abnormal returns in emerging economies are dynamic and have significantly increased recently.

To the authors' knowledge, this is the first to simultaneously estimate country, industry, country–industry and firm effects on the permanent and transitory components of abnormal returns in a sample of emerging economies. The study generates important evidence regarding the sources of sustainable differentiation for firms competing in emerging economies. Finally, the authors find that chances of achieving sustainability of abnormal returns in emerging economies are dynamic and have significantly increased recently.

This study aims to investigate whether there are disparities in research and development (R&D) internationalization between latecomers from economy-level technological disparities and firms with ownership-specific technological capability differences in the wind turbine industry.

Employing econometric analysis based on patent indicators, the authors examine the patent data assigned by the United States Patent and Trademark Office (USPTO) to the technologically advanced economy and the technologically emerging economy.

This study finds that latecomers from technologically advanced economies behave with no difference from early leaders in terms of international co-invention (INCO) but do show differences in another indicator – native ownership of foreign inventors (NOFIs). Additionally, latecomers from economy-level technological disparity show significant differences both in both INCO and NOFI. These results indicate that the latecomers from technologically advanced economies not only possess the nature of latecomers which motivates them to seek knowledge from foreign economies but also benefit from their advanced home base, thereby prompting them to internationalize and access cost-effective R&D resources. Moreover, the results demonstrate that latecomers from technologically emerging economies are more prone to engage in R&D internationalization to augment their own home base compared with firms from advanced economy.

This study extends the literature on R&D internationalization by introducing novel perspectives. It distinguishes some apparent distinctions of the tendency of R&D internationalization between latecomers under economy-level technological disparity as well as firms from ownership-specific technological capabilities differences. Additionally, this study disaggregates R&D internationalization into twin key dimensions: INCO and NOFI. These findings allow for a comprehensive understanding of the differences in the firm's R&D internationalization under economy-level technological disparities and ownership-specific technological differences. These findings offer valuable insights for decision-makers in navigating global innovation activities by highlighting the diverse economy-level technological advantages as well as ownership-specific advantages.

This study explains the international opportunity development of SMEs from emerging economies during institutional transition. This research enriches our understanding of how these firms adopt different approaches to developing international opportunities when they confront the turbulent institutional environment. We develop a phase-based framework for the evolution of transitional institution for SMEs’ internationalization and the SMEs’ internationalization process in that framework. By providing an empirical case study of a privately owned SME from China, the main finding is that SMEs from emerging economies become more entrepreneurial and proactive in developing the international opportunity during the institutional transition.