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Purpose: The paper aims to relook at the notion of competitiveness in the challenging times of pandemic. The failure of global value chains caused many nations despite their state of economic development to struggle for necessary items. The goal of achieving profitability abated by having self-sufficiency, specifically in the manufacturing sector where unlike services, the production processes jolted. Under this backdrop, the paper attempts to project local industry clusters as a panacea for achieving resilient competitiveness. Design/methodology/approach: To explore the credibility of clusters as an important tool to prepare nations towards a resilient future, a correlation between the state of cluster development in a country and its national competitiveness has been tested. Besides, any difference in the notion of state of cluster development between least developing countries, developing countries and developed countries has also been tested. The paper uses the data from World Economic Forum's Global Competitiveness Report. Findings: Strong support for the research hypothesis has been found. High positive correlation exists between the state of cluster development and national competitiveness. The state of cluster development is found to be significantly different among three categories of countries. Originality/value: Clusters have been promoted in academic literature, policy circles and the business community for many advantages. This paper is a novice attempt to showcase these can serve as an instrument to prepare economies for self-sufficiency and a resilient future by performing an objective evaluation. [ABSTRACT FROM AUTHOR]

Purpose: The development in information communication and technology (ICT) has led to many changes such as reorganization of economics, globalization and trade. With more innovation processes being organized and adopted across technologies, trade, etc., these are getting more closely related and needs fresh research perspective. This study aims to empirically investigate the interrelationship between ICT penetration, innovation, trade and economic growth in 20 developed and developing nations from 1995 to 2018. Design/methodology/approach: The present paper examines both long-run and short-run relationships between the four variables, namely, innovation, ICT penetration, trade and economic growth, by applying panel estimation techniques of regression and vector error correction model. ICT penetration and innovation indices are constructed using principle component analysis technique. Findings: The findings of the study highlight that for developed nations, growth, trade and innovation are significantly interlinked with no significant role of ICT penetration While for developing nations, significant relationship is present between growth and trade, ICT penetration and innovation. With respect to trade, in case of developed nations, significant relationship is present with ICT penetration. While for developing nations there is no significant result for trade promotion. On further employing the vector error correction model, the presence of short run causality between growth, trade and innovation in case of developed nations is established but no such causality between variables for developing nations is seen. Originality/value: The present paper adds to the existing strand of literature examining interlinkage between innovation and growth by introducing new variables of ICT penetration and innovation. [ABSTRACT FROM AUTHOR]

Purpose: Whereas in developed countries, sustainability primarily focuses on environmental topics, in developing countries the issues of poverty, development and equity are equally, if not more, important. The purpose of this paper is to apply measures of social and environmental sustainability to assess sustainable development for the period 2005–2015 across a sample of 94 countries for which relevant data are available. Countries include two groups: developed and developing countries. Design/methodology/approach: Using the index-based approach introduced by the World Economic Forum in its Global Competitiveness Project, a range of indicators are collected for estimating trends in both social and environmental sustainability. For the panel of data identified, a dynamic panel data estimator method is applied to the data set constructed. This paper presents the empirical results identifying key competitiveness factors related to social and environmental sustainability (separately and combining both aspects in a comprehensive sustainability framework). Findings: This study explores how sustainable competitiveness offers a comprehensive assessment of the inter-related dynamics of the social, the environmental and economic building blocks of sustainable development simultaneously. Performance impacts are found to differ substantially across two groups of countries depending on their development level. This highlights the challenges in shaping and achieving sustainable development goals. Originality/value: To the best of the authors' knowledge, this research is novel in examining the intersections between economic competitiveness and environmental and social sustainability addressing an identified research gap. In addition, the paper investigates the most important competitiveness pillars focusing on both strengths and weaknesses in sustainable competitiveness across developed and developing countries. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this work is to explore what determines a country's entrepreneurial environment attractiveness, by understanding how countries compare regarding their business environment and entrepreneurial opportunities and whether such aspects have changed over time. Design/methodology/approach: Through a longitudinal country-level cluster analysis of business environments (years 2001 and 2016), this study captures changes in classification of both emerging and developed market economies throughout an attractiveness spectrum, from least to most attractive environments. Findings: Interesting findings involve the difference in trajectories of emerging economies, such as India compared to the stagnation of Brazil, Argentina and South Korea in the 15-year period. The paper seeks to contribute to the debate on the attractiveness of the entrepreneurial environment beyond the simple notion of most and least economically developed countries by providing a framework for dynamic cross-country analysis of entrepreneurial environmental attractiveness that can be further explored, tested and expanded. Research limitations/implications: Main limitations relate to the non-exhaustive sample of countries and variables. Contributions are both academic and managerial: helping to fill important research gaps in international entrepreneurship, namely, environmental conditions, cross-country comparisons (Coombs et al., 2009) and the understanding of elements of the investment climate (Stern, 2002); and assisting managers, entrepreneurs and policymakers understand what defines a country's entrepreneurial environment attractiveness to better evaluate potential locations for investment. Originality/value: The originality of the paper lies in using cluster analysis in a longitudinal study of country attractiveness, as well as in advancing the debate of country attractiveness, by adding a temporal dimension (from factors that are less structural to more conjunctural) and a comparative dimension in a new cross-country comparison framework of analysis. [ABSTRACT FROM AUTHOR]

Purpose: The springboard theory for multinational enterprises and the upward spiral model address the expansion of emerging countries' multinational enterprises (MNEs) abroad as a set of resource-building stages. This paper aims to analyze this model by qualifying knowledge flows in three domains: learning effects, transfer flows and global connections. Design/methodology/approach: The authors use 2018 data from the ORBIS database to identify evidence concerning the springboard MNE (SMNE) phenomenon. The authors select MNE firms from 93 emerging economies with presence in 71 developed and 93 developing countries. In addition, the authors differentiate between the levels of technological intensity of emerging market MNEs' sectors. Findings: The results highlight the existence of learning processes taking place in subsidiaries and feeding back into parent firms, as well as the existence of capability transfer from home to host units. Originality/value: The main contribution is the addition of empirical evidence on the SMNE and specifically the upward spiral model, considering the micro-level and the productivity differences between parent firm and subsidiaries. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this study is to evaluate empirically the perceptions of the stakeholder regarding their relevance based on their perceived preference in terms of climate strategy proactivity (CSP) which is an outcome of the importance and influence of the category of the stakeholders of Indian companies. Revolutionized by the liberalization–privatization–globalization, the practices and strategies of the companies in the developing country such as India have been marked by dynamic changes in the several past decades. In these circumstances, it has become imperative to understand the relevance of the stakeholders in terms of CSP displayed by these companies to seek help in developing appropriate strategies in the emerging competitive market. Design/methodology/approach: This paper used a research design comprising descriptive analytical method using non-probability purposive sampling method to collect data from a sampled 701 respondents representing eleven categories stakeholders, with the help of a cross-sectional, self-administered online survey questionnaire. Findings: The findings of the study detail the evaluation of the stakeholders relevance based on their perceived preference in terms of CSP attaching significance to the stakeholders' perception as a useful tool. While the findings hint at the incessant growth of stakeholder awareness urging corporations to analyze effects and adopt appropriate strategies in developing countries, they also evaluate empirically the perceptions of the stakeholder regarding their relevance based on their perceived preference in terms of CSP which is an outcome of the importance and influence enjoyed by the category of the stakeholders of Indian companies. The findings confirmed the adequate level of awareness of the stakeholders of Indian companies responsible for making them adopt CSP. Research limitations/implications: This study had the limitations such as collection of information through a self-reported questionnaire which might have the impact of self-bias despite all the preventive and corrective measures, and the risk of creation of a subjective viewpoint due to the assessment of the perceptions of varied stakeholders. Nonetheless, meeting the objective of this study, the study succeeds in providing a stakeholder perspective to the existing body of knowledge with respect to CSP, a stakeholders-centric concept which is in infancy in the context of developing countries and their corporations. Originality/value: The paper is original as it adds value by providing empirical evidence from the perspective of different stakeholders, including but not limited to managers or shareholders only, like majority of previous studies. By doing so, it successfully attempts to contextualize them indicating the need to unlock huge potentialities and substantial significance for other developing countries. [ABSTRACT FROM AUTHOR]

Purpose: This paper aims to develop a scale to measure climate strategy proactivity (CSP) displayed by corporate in developing countries to attain competitive advantage (CA) and sustain it through sources of sustained competitive advantage (SOSCA). It attempts to derive sound operational definitions of CSP, CA and SOSCA through horizontal analysis of previous studies and discussions with experts and practitioners to construct a measurement scale. Design/methodology/approach: Research design includes broad stages, namely, item generation, scale development and assessment of psychometric properties of the scale starting with review of literature and discussions with experts and practitioners, which were followed by a pilot and full study carried out through a cross-sectional, self-administered online survey questionnaire and assessment using suitable tools and techniques. Findings: Findings of the study comprise development of sound operational definitions and construction of a valid and reliable measurement scale of CSP displayed by corporate to attain CA with strong psychometric properties, which is expected to be useful in developing countries not only for researchers and academics but also for the practitioners and organizations. Research limitations/implications: The information was self-reported by respondents through climate strategy proactivity questionnaire (CSPQ) and consequently can be at risk to have been influenced by bias. Nonetheless, this CSPQ scale devoid of conceptual problems can be used in developing countries in future empirical studies with the caution that its reliability and validity require further tests. Practical implications: Using the CSPQ scale will help managers in developing countries in enhancing their awareness with the provision of these conceptually clear comprehensive operational definitions of CSP, CA and SOSCA with respect to the conceptual nature and the latent expressions, and draw an extensively enhanced scope of climate-conscious strategy to bring about CA. Originality/value: With the data collected from a sample representing different stakeholders of Indian companies from across the country, CSPQ scale possesses significant robustness and implicative potential which can contribute to the evolution of the strategic management field by providing a valid and reliable measure of CSP in developing countries applicable under any major theoretical perspective in strategic management serving the needs of not only the empirical research but also of the management practices intended to attain CA. [ABSTRACT FROM AUTHOR]

Purpose -- The purpose of this paper is to understand the competitive landscape of emerging market economies (EMEs) and the implications of business models and strategies used by multinational enterprises (MNEs) to enter and operate in such landscapes. It does so by considering the aviation sector in an emerging economy -- India, and by studying the strategies pursued by AirAsia India -- the Indian joint venture of AirAsia Investment Limited and Tata Sons. Design/methodology/approach -- The paper follows a case study approach. Secondary data sources from the library, company website and newspaper articles have been used to build a case that would encourage students to discuss and analyze the competitive strategies followed by MNEs in EMEs. Findings -- Emerging markets offer attractive investment opportunities to MNEs across several industries. However, their markets for intermediate goods and services possess imperfections. Competitiveness in such markets will require going beyond country-specific and firm-specific advantages. MNEs will need to integrate location-specific advantages with internalization advantages of these market imperfections to operate successfully in the complex environments of EMEs. A one-size-fits-all approach of transposing successful strategies from home markets will fail to create value. Practical implications -- MNEs, such as AirAsia, will need to develop participatory skills to leverage the location-specific-advantages of EMEs and reduce their own curse of foreignness to be able to succeed in EMEs. Originality/value -- This paper contributes to extant literature by studying the competitive strategies pursued by a global leader in an EME. The case of the 'World's Best Low-Cost Airline" -- AirAsia's India operations seeks to go beyond the Eclectic Paradigm and the country-specific and firm-specific advantages framework, to provide a location-internalization paradigm for operating in EMEs. [ABSTRACT FROM AUTHOR]

Purpose -- The purpose of this conceptual paper is to present a new approach that will enable marketers in developing and emerging countries to promote their products, irrespective of their country of origin's image. Many companies in emerging and developing countries, intent on exporting their products/services, struggle to overcome the negative "made-in" image barrier. Despite tremendous efforts by the governments of these countries to change the unfavorable image of products made there, their good quality products are still perceived as inferior compared to companies whose products are "made-in" in countries with a positive image, mainly developed countries. Design/methodology/approach -- The proposed conceptual model hinges on two dimensions -- global political status and human capital capabilities. Using this framework, four different types of country destination positioning emerge, each with its own country branding strategy. Findings -- Companies from emerging and developing countries can compete on an equal footing with Western companies by changing their country branding strategy. Companies from countries such as China and Costa Rica can promote themselves better by implementing region and continent branding strategies. Practical implications -- The proposed conceptual model enables marketers to cope even with the most negative "made-in" country stereotypes and improve their marketplace positions. Originality/value -- The literature review demonstrates that researchers have not dealt with these two dimensions. Consequently, the paper offers marketers a new perspective on the complex issue of country positioning and how to leverage their strengths to maximize their company's profits. [ABSTRACT FROM AUTHOR]

Purpose: Existing theories on the determining factors of corporate investment decisions raise the importance of financial market imperfections in explaining investment behavior. Many factors have been proposed as drivers of investment, mainly in developed economies, while emerging countries have almost been neglected. The main purpose of this study is to examine the effect of financing constraints on the investment behavior of a small context, namely, Jordan, with an imperfect environment. Design/methodology/approach: This study considers panel data regressions from the industrial companies traded at the Amman Stock Exchange with a total of 1,058 firm-year observations. Findings: The results are able to demonstrate that business size, tangibility, market-to-book ratio, profitability, financial slack and leverage are major drivers of investment choices. The results support the importance of information asymmetry in explaining the investment behavior of firms. Nonetheless, the Q-theory is in place, as is firm agility. Practical implications: Policies to reduce information asymmetry are immediately needed to help firms increase investments by providing them with access to training, technology and market information. They also should enhance the firms' opportunities for growth. Moreover, they should make it easier for businesses to access financial slack, such as by improving access to credit and financial institutions. They also can work to improve the financial infrastructure to meet the financing needs of businesses. Finally, smaller businesses should be assisted by improving their ability to invest and grow. Originality/value: To the best of the authors' knowledge, this is one of the first studies, if any, to investigate this issue in a distinct environment. Despite the unique characteristics of Jordan, the findings are applicable to other countries that experience comparable political and economic circumstances because Jordan has traits common to many emerging nations. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this study is to carry out an empirical investigation about how the level of market concentration or competitiveness of the banking system and institutional quality are associated with bank's financial stability. Design/methodology/approach: This study uses dynamic panel data techniques on the sample of 133 developing and emerging countries over the years 2002–2020. Findings: The authors document several significant findings. First, there is evidence that bank stability is positively associated with the level of market concentration. The result is in line with the concentration–stability view that banks operating in a more concentrated market tend to be more stable than those in a less concentrated market. Second, the results confirm that the quality of the institutional environment plays a critical role in improving the stability of banks in developing and emerging countries. Third, the authors find that institutional development can moderate the effect of market concentration (or competitiveness of the banking system) on bank stability. Specifically, the results show that better institutional quality enhances the positive influence of bank concentration on the bank's financial stability in developing and emerging countries. These results are robust to different specifications with the alternative measures of bank stability and market concentration. Originality/value: This study provides further understanding regarding the effects of the level of market concentration or competitiveness of the banking system and institutional quality on bank stability in 133 developing and emerging countries over the years 2002–2020. [ABSTRACT FROM AUTHOR]

Purpose: This study aims to examine the relationship between sustainability reporting and bank performance after financial crisis in developed and developing countries. Design/methodology/approach: This study examines 882 banks from developed and developing countries covering 11 years after the 2008 financial crisis. The independent variable is environmental, social and governance (ESG) scores. The dependent variables are return on assets, return on equity and Tobin's Q. This study uses bank- and country-specific control variables to measure the relationship between sustainability reporting and bank performance. Findings: The findings deduced from the empirical results demonstrate that ESG improves banks' accounting and market-based performance in developed countries, supporting value creation theory. Using pooling regression and instrumental variable – generalized method of moments, this study finds that ESG weakens banks' performance in developed and developing countries. Originality/value: To the best of the author's knowledge, this is the first study to investigate and compare the impact of sustainability reporting on banks' performance in developed and developing countries. The study found similarities in the impact of sustainability reporting and the improvement of banks' current and future performance. [ABSTRACT FROM AUTHOR]