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PurposeOwing to the consolidation and globalization of the paper industry, manufacturing units have keen interest to focus on particular product groups. While this specialization will create opportunities for scale economics in production, management of supply chains becomes increasingly challenging, as one particular manufacturing unit serves a number of different sales locations. The aim of this paper is to identify improvement areas in the new supply chain context of paper production, and possibly give further support for the general discipline development.Design/methodology/approachResearch work is based on two different case studies completed for one major North‐European paper manufacturer, which is mostly serving its customers in Europe and the USA. The first case study (a preliminary one) started when supply chain challenges were recognized at the end of the 1990s, and a manufacturing unit was seeking managerial remedies – this investigation only concerned one manufacturing unit, while not singling cut any particular supply chain in the analysis. During the most recent years a more detailed case‐study was conducted with this paper manufacturer, which concerned lead time performance of four different strategically important supply chains. These supply chains were championed by two different large manufacturing units (the preliminary analysis concerned one of these two paper mills). The objective of this research work is to identify whether general lead time and response studies, mostly completed in the automotive industry, are applicable to paper production.FindingsAccording to the analysis North‐European paper manufacturers hold approximately 45 days of distribution inventory. Interestingly, in the case study it was found that in distribution this does not result in high efficiency–on the contrary different parties involved (railway, port operations and vessels) need to have a considerable amount of free and unused capacity in their operations to ensure the smooth flow of materials.Research limitations/implicationsThe case studies were conducted in the factories of one large North‐European multinational. Therefore, the observations are limited to this company. However, in order to generalize the results further, the authors have analysed North‐European paper producers through macro data and financial reports in any research environment. To cover a mismatch between company level quantitative analysis and macro data, the authors consulted several key persons in the case company concerning the research results. Therefore, triangulation in the empirical data was achieved.Practical implicationsIt is argued that four reasons, namely: scale emphasis in production, IT systems to support supply chains, sea shipment, and outsourced distribution, play a vital role in the forthcoming performance improvement initiatives. At the moment this results in long supply chain lead times, whatever the distance to the actual market. Decision makers in practice need to find solutions for these in order to improve performance further.Originality/valueSupply chains are rarely analyzed in research works through more than one supply chain – here analysis of four different supply chains concerning lead time is provided. The analysis is based on the enterprise resource‐planning database, and findings are verified with interviews with the managers and directors of the case company.

PurposeTo analyze the challenges for business posed by rising anti‐Americanism and anti‐globalism, the need to restore trust in business, and the demands of transparency. These considerable, but surmountable challenges are met by keeping pace with rapid change, through communicating and building reputation, and through modeling the concepts of “truth” and “trust” as the common currency of a robust world civilization.Design/methodology/approachFocus on recent research into global attitudes toward business by Pew Global Attitudes Project, Edelman Annual Trust Barometer, NOP World, Global Market Insite; and on the PR Coalition White Paper, Restoring Trust in Business.FindingsEmerging best practices for combating anti‐Americanism and for restoring trust through ethical behavior, transparency, and board‐level commitment.Practical implicationsCorporate development of public affairs and issues management strategies designed to mitigate the negative impact of rising anti‐Americanism and declining trust in business.Originality/valueUnderstanding a shift in global attitudes toward business results in informed decision making, strategic planning, and effective issues management and thought leadership.

The modern industrialized world was completely caught off guard by the recent SARS outbreak. Fortunately, for most organizations, the impact has been short lived, but management has been provided with a reminder of the impact of the external environment in a world of ever increasing globalization. As seen with the SARS outbreak, a lack of preparedness can have devastating effects on business and warrant inclusion in a business definition of a crisis. This paper uses the recent SARS epidemic as a background to highlight the importance of crisis planning, particularly in emerging economies, and suggests how organizations can address these concerns.

PurposeThis paper aims to offer a unified economic interpretation of the existing evidence on the Manila Galleon. It intends to be an introduction to the Manila Galleon for economists curious about long-term patterns in global trade, but who are not experts on economic history.Design/methodology/approachThe paper jointly presents quantitative and qualitative data to analyze in a critical way the existing work on the Manila Galleon. It proposes a conceptual model from the world-systems approach to reflect on the impact of this trade route. Evidence from two case studies, New Granada and Korea, accompany the model.FindingsThe paper finds that the Manila Galleon was only possible because of the temporary coincidence of a quite singular set of international circumstances and favorable local market conditions. The paper also finds that, despite its large effects on the global integration of silver markets, the Manila Galleon was a profoundly asymmetric activity that brought minor consequences to most of the world.Research limitations/implicationsThis paper shows the importance of additional studies providing systematic quantitative evidence on the Manila Galleon. The long tradition of an archival collection developed by historians offers a huge potential to this line of research. In addition, studies in regions different from Mexico, the Philippines, Spain and China would contribute to a better understanding of the Manila Galleon’s global consequences.Practical implicationsThis paper provides a series of reflections useful to think about the future challenges of global trade. These challenges require understanding the transformations that will come from profound technological change, massive reconfigurations of the geopolitical order and transitions in the long-term cycles of commodities. Because of their rare occurrence, these are forces hardly visible in recent history, making it necessary for the existence of long-term points of reference such as the Manila Galleon.Originality/valueThis paper brings together widespread evidence on the Manila Galleon and provides a unified interpretation of it. This opens the door for audiences who are not experts on the economic history of the period to discuss the topic, allowing them to reflect on its lessons for the modern world.

PurposeDespite luxury's increasing globalization and broadening scope via digitalization and new markets, the intellectual structure of the overall research corpus remains tenuous. This work therefore aims to provide an overview of published work on international luxury marketing and to contribute to a better understanding of the research area.Design/methodology/approachUsing a systematic approach, 1151 items (papers) were retrieved and 181 selected from the international luxury marketing field published before 2019. These items were analyzed by using various bibliometric techniques to identify the most productive countries, journals, influential authors, papers and research clusters.FindingsAlthough most of the outputs originate from business, management and marketing journals, other disciplines also research this topic. The analysis reveals an emerging field, with 85% of the published papers appearing between 2010 and 2018, which are primarily the output of US- and UK-based authors and none of whom dominates the field. The three identified keyword clusters are (1) consumers and consumption (2) tools and (3) core themes.Practical implicationsThis article contributes to our understanding of the evolution, current status and research trends of published research on international luxury marketing by presenting a mapping analysis and proposing future research directions.Originality/valueThis is the first bibliometric mapping analysis of research on the topic from its conception to 2019. It contributes insights from different research disciplines, adds to the categorization of the international luxury marketing literature and provides promising future research directions in terms of research areas and strategies.

PurposeThis paper outlines the rapid rise of China's fintech companies over the past decade with a focus on their globalization strategies as they enter their next phase of development.Design/methodology/approachThe author examines China's current and prospective influence on global financial digitization trends, and assesses both domestic and foreign opportunities and challenges confronted by China's fintech firms as they look to expand abroad.FindingsThe Chinese government is experimenting with a radically new fintech system and a regulatory regime in response to it. Chinese ambitions to expand fintech influence through private companies and the state-led “digital RMB” (e-CNY) will likely provoke a wave of “digital protectionism” among developed nations to protect internal digital payments.Originality/valueThis paper is an original economic history research on China's fintech industry.

PurposeEither buying or making is predicted by the existing literature for firms to reduce dependence. However, firms in the rapid globalization are found to adopt a pattern of buying and making. Specially, they critically rely on foreign firms for needed materials and goods, and invest in innovation against the uncertainty of potential supply disruptions simultaneously. Therefore, this paper seeks to investigate how the depth and width of supplier globalization shape firm innovation together. Moreover, the moderating effects of institutional distance and market competition are also examined in the paper.Design/methodology/approachGrounded on the resource dependence theory, this paper develops a theoretical framework and tests the proposed hypotheses by Poisson model using secondary data from 502 Chinese listed firms with foreign suppliers.FindingsThe depth of supplier globalization has a positive impact on firm innovation, while the width of supplier globalization weakens firm innovation. The depth and width of supplier globalization further interact negatively to influence firm innovation. Moreover, this relationship is enhanced when firms establish relationships with foreign firms with greater institutional distance and is weakened when firms face fiercer product competition.Originality/valueThe authors contribute to the literature by evidencing that the existence of foreign suppliers results in firms' enhancement of innovation to secure their operations and showing that diversifying the country origins of foreign suppliers is an effective means to reduce firms' uncertainty about supply disruption. We also advance the understanding regarding the contextual factors in which firms are more likely or less likely to manage the uncertainty about supplier globalization.

PurposeAs globalization promotes mobility and tourism around the world, the substitution effect of outbound tourism on domestic tourism becomes increasingly apparent. Knowing how to increase customers' loyalty toward domestic tourism is an urgent and critical question for policymakers and tourism managers, especially from the perspective of customer segmentation. The purpose of this paper is to explore whether and how consumer expertise affects domestic tourism loyalty. This paper also provides comprehensive research for understanding differences between married and unmarried consumers in responses to the impact of expertise on loyalty.Design/methodology/approachThe study is based on a survey of 384 individuals. We use Partial least squares (PLS), a variance-based structural equation model, and statistical comparison to test research hypotheses.FindingsResults suggest that consumer expertise has a “double-edged sword” effect on domestic tourism loyalty. On one hand, it increases the perceived benefit of domestic tourism and reduces consumers' motivation to switch to outbound tourism, resulting in a higher level of domestic tourism loyalty. On the other hand, consumer expertise improves consumers' switching ability and switching opportunity to travel abroad, leading to a lower level of domestic tourism loyalty. Furthermore, this paper documents that married and unmarried customers present heterogeneous attitudes in the decision process. We found that married customers are less sensitive to the impact of consumer expertise on the perceived benefit and the impact of consumer expertise on switch ability. However, married customers are more sensitive to both the impact of perceived usefulness on the switch motivation, and the impact of switch motivation, switch opportunity and switch ability on domestic tourism loyalty.Research limitations/implicationsOur findings enrich the literature on consumer expertise and loyalty. Future studies may consider examining similar relationships by utilizing multiple research methods as well as testing the research findings and mechanisms in different contexts.Practical implicationsThis research provides practical guidance for cultivating and maintaining domestic tourism loyalty, such as consumer segmentation in terms of tourism knowledge and information.Originality/valueThis paper examines the relationship between consumer expertise and loyalty in the context of tourism and uncovers the mechanism behind it. More importantly, to our knowledge, this paper is the first to identify consumers' marital status as a key factor that influences the process of how consumer expertise affects domestic tourism loyalty.

PurposeThe purpose of the paper is to describe and analyse the nature of accountability for human rights, as enacted by the Business & Human Rights Resource Centre (BHRRC), in this time of globalization and coronavirus disease 2019 (COVID-19). Design/methodology/approachThe authors focus on one case of alleged union-busting and unfair dismissal carried out under the cover of the COVID-19 pandemic. Tracing the action of that case, the authors show how the BHRRC provides a digital platform for dialogues of accountability. The authors use a Latourian theoretical perspective to guide the progress of the study’s analysis.FindingsThe authors find that the dialogues of accountability enacted on the BHRRC platform cannot be satisfactorily characterized in terms of an old politics of hegemony, counterhegemony and counter accounts. The authors find that the accountability enacted on the platform operates in three modes: in a political mode to support the formation of issues and publics and the embedding of norms; in an organizational mode to support the (re)organizing business corporations around scripts of respect for human rights; in a moral mode to keep scruples concerning means and ends and the pursuit of better outcomes, open.Originality/valueThe paper is novel, in that it engages with the part that accounting can play in politics conceived in Latourian terms; in its introduction, a notion of modes of accountability on the foundations of Latour’s exploration of modes of existence; in its challenge to the value of critical accounting conceived in terms of hegemony and counterhegemony.

PurposeThrough its impact on both demand and supply, the outbreak of novel coronavirus disease 2019 (COVID-19) has profoundly disrupted supply chains throughout the world. The purpose of this paper is to explore the underlying drivers of the supply chain vulnerability exposed by COVID-19 and considers potential future directions for global supply.Design/methodology/approachThis paper adopts a case study approach, reviewing the automotive manufacturing sector in Australia to illustrate how neoliberal globalisation policy settings have shifted large tracts of manufacturing from the global north to the global south.FindingsThe authors demonstrate the way that neoliberal globalisation policies, facilitated by certain accounting rhetorics and technologies, have consolidated manufacturing in China and Southeast Asia in ways that embed vulnerabilities in global supply chains. The authors present three scenarios for post-COVID-19 supply chains and the accounting techniques likely to garner stronger attention as a result of the pandemic.Research limitations/implicationsThe paper illustrates how certain accounting rhetorics and technologies facilitate neoliberal globalisation, embedding supply chain vulnerability that has been exposed by COVID-19. It also suggests how supply chain accounting may develop more robust supply chains in a post-COVID-19 world and sets out an agenda for future research in this area.Practical implicationsA number of practical supply chain accounting and planning technologies are suggested to facilitate more robust supply chains.Originality/valueThis paper draws attention to the neoliberal globalisation policies that have shaped global supply chains as well as how COVID-19, in concert with other geopolitical trajectories, may represent a watershed moment for global supply chains.

PurposeIt has been over 20 years since the landmark publication of Mizruchi (1996) and his examination of “what do interlocks do?”. Since then, the nature of interlocks and subsequent research on the subject has evolved. This paper aims to revisit the literature on interlocking directorates through a quantitative bibliometric analysis.Design/methodology/approachThis study undertakes a bibliometric analysis of literature citing the Mizruchi (1996) to examine the state of research following up on “what do interlocks do”. This study examines 718 publications using keyword and co-word analysis, along with a thematic analysis to revisit the research that has followed Mizruchi’s topic of what do interlocks do.FindingsThis study finds that the topics of the corporate elite, capitalist economy and corporate governance have remained prominent themes in the field. Research areas that are emerging in the field of interlocking directorates include gender diversity, globalisation and advancing theoretical frameworks.Originality/valueThis paper provides a quantitative bibliometric analysis to revisit the extant literature on “what do interlocks do”, examining a high number of articles to identify areas which could be developed to advance research in the field.

Purpose The purpose of this paper is a reflective account in which one person who has been around long enough to see a good bit considers how COVID-19 might change the general contours of the world. Design/methodology/approach This paper follows a broadly based and relatively unstructured approach, based on personal understandings and whatever rigor might have been gained by a life spent thinking about research design and the limits of methodology. Findings The opposite of what many others believe will happen is argued for. Things will change more than we wish. Most will change for the worse. Research limitations/implications Accounting research will have a role to play, but to have impact, this study will require that researchers adopt a much more critical perspective about capitalism and its consequences than before. Practical implications Everyone must do the best they can. Everyone must learn to accept the new and not rage to restore that which existed in before times. Social implications Harsher climate of interpersonal relations will be realized. Originality/value This paper is more about change than about accounting. A 30,000-foot level analysis that does not try to provide many examples. An effort to rise above the specifics that vary across the world.

Purpose The rise of the global economy has been an essential element in the international business (IB) agenda since the 1980s, and the topic of globalisation has not failed to captivate the attention of IB researchers and practitioners alike. Globalisation has impacted on such diverse issues as trade relations, geopolitical boundaries, social class, human rights, environmental commitments, religion, ethnicity, sovereignty and conservation of culture. The purpose of this paper is to provide an analysis of the current state of IB research on the topic of globalisation and to guide researchers who are new to IB research as to which journals and authors to consult when studying this phenomenon. Design/methodology/approach The paper presents a bibliometric analysis using the Web of Science database. A multiple correspondence analysis provides a map of keywords and authors, as well as a framework to track the globalisation literature over the 26-year period, 1993–2018. Findings The findings identify several fundamental themes and significant gaps in the extant literature; the most alarming gap centres around the effect of globalisation on social issues and, consequently, the rise of the anti-globalisation crusaders. Research limitations/implications The literature review produced 529 articles listed only in the Web of Science Core Collection in the period 1993–2018. Practical implications A distinctive contribution of this study is that it investigates the intersection between globalisation and IB. This paper seeks to expose the intellectual structure of globalisation research, identify existing and emerging themes of globalisation research and discuss future research streams. Social implications The findings show the rise of the globalisation sceptic and reveal the mounting concerns regarding the unequal benefits of globalisation. Originality/value There are two key benefits of this review. First, the theory extends by identifying a swing from an alignment with the transformationalist theory to sceptical theory. Second, the review has the potential to guide scholars on precisely what needs to be explored in IB globalisation research.

Purpose This paper aims to examine the issues faced by cities known for their struggles with over-tourism, before and during the Covid-19 pandemic. Opportunities to overcome over-tourism in a post-Covid-19 world are discussed. Design/methodology/approach This paper is a review of the fundamental issues of over-tourism before and during the Covid-19 pandemic. Findings The pandemic has turned the state of tourism in many cities from “over-tourism” to “no tourism”, prompting massive state intervention from governments, regardless of their political ideology. The pandemic has also been more effective than top-down governmental orders and ground-up green initiatives to reduce pollution within a short span of time. Practical implications Many have been left behind by the competitive nature of globalisation, and the Covid-19 pandemic could present a case for governments to play a larger role in improving their citizens’ quality of live. These would include a fundamental shift in focus to jobs (instead of gross domestic products) by governments, increased investment in public works and environment-friendly infrastructure and expanding public regulatory and enforcement roles in areas such as crowd control and inspection of home rentals for regulatory compliance. Social implications When normalcy returns and tourists begin to flock to destinations and attractions, there should be a much higher awareness amongst both tourists and locals of the maintenance of personal hygiene and of the need for safe distancing while in dense crowds. A new social norm should emerge. Originality/value A heightened sense of material, community, emotional and health and safety well-beings of local residents would ease concerns and perceptions of over-tourism.

Purpose Human talent is rapidly becoming the most important asset for individuals, communities and nations. As the world changes rapidly due to globalization and technological innovation new opportunities and challenges arise for individuals, communities and nations. This paper aims to explore transforming education to prepare students to invent the future. Design/methodology/approach This essay draws on an evaluation of the impact of an entrepreneurship education program on a sample of youth in Saudi Arabia and integrates the core findings and ideas of literature relevant to the topic of education for the 21st century, including several books by the author. Findings This paper highlights five principles guide a series of curriculum resources to advance dispositions and skills for student empowerment and civic participation: start with the end in mind to design curriculum; leverage improvement networks to design curriculum; learn by doing; the power of problem-based education; and the power of collaboration in diverse teams. Originality/value Klaus Schwab, the founder of the World Economic Forum, predicts that the Fourth Industrial Revolution, resulting from increased and ubiquitous automation and the development of artificial intelligence, will eliminate many of the jobs currently available. Together with neurotechnological and genetic developments, these changes will create new opportunities and serious challenges, which require a heightened commitment to putting humans at the center, and empowerment as a goal (Schwab, 2017). These developments create a new urgency to examine whether children and youth are being prepared to be effective and productive citizens and workers, and to not just understand the future but to invent it. There is an emerging consensus that the skills students will need to invent the future must include cognitive, interpersonal and intrapersonal skills (Pellegrino and Hilton, 2012). The growing awareness that the adequate development of these requires deliberate efforts to cultivate them is also stimulating questions and innovations about the kind of educational experiences which can cultivate those skills.

Purpose This paper responds to calls for a new raison d’être in the field cross-cultural management (CCM) and culture-sensitive studies of international business (IB) more broadly. It argues that one way of addressing the crisis of confidence in the field is to develop a line of inquiry focussed on corporate-driven cultural globalization. This paper also proposes a theoretical approach informed by international political economy (IPE) and postcolonial theory and outlines a research agenda for future work on cultural globalization. Design/methodology/approach The paper is a desk-based analysis that draws on relevant research in the wider social sciences to insert cultural globalization into the CCM/IB field’s intellectual project. Findings The paper finds the field of CCM and culture-sensitive IB studies more broadly to be almost exclusively focussed on studying the impact of cultural differences. Surprisingly, little attention has been devoted to the phenomenon of corporate-driven cultural globalization. Research limitations/implications The paper redirects the field and presents a research agenda, calling for studies on the role of four related actors in cultural globalization: MNEs, global professional service firms, business schools and CCM/IB researchers themselves. Practical implications CCM/IB scholars may be able to reorient themselves towards the phenomenon of cultural globalization and, in so doing, also seize an opportunity to contribute to important debates about it in the wider social sciences. Originality/value The paper suggests possibilities for renewal by redirecting CCM/IB towards the study of cultural globalization and by encouraging the field to develop a postcolonial sensibility in future research on the phenomenon.

Purpose The proposed Regional Comprehensive Economic Partnership (RCEP) will become a large trade agreement in Asia, which has brought together the ten members of Association of Southeast Asian Nations (ASEAN) and five of the neighbors’ countries. Under the trend of globalization, the progress of the transportation industry and regional integration will increase the volume of trade, therefore maritime performance is intrinsically linked to trade. In fact, few studies have examined regional integration in the context of seaborne. This paper aims to use the cluster analysis and Poisson quasi-maximum likelihood (PQML) gravity model to investigate the trading bloc phenomenon and relation between trade and marine transportation. Design/methodology/approach In this paper, hierarchical clustering analysis and tree diagrams are used to identify functional areas characterized by bilateral trade intensity and bilateral liner shipping connectivity indices. Regional reorganizations that have occurred within Asian countries were studied. This study illustrates that these trading blocs have a positive impact on trade when maritime transport, production and trading networks have developed between regions. A gravity model was constructed using worldwide trade data for 2007, 2010 and 2015. The study considered free trade agreement (FTA)/common market (CM) of EU, RCEP and North American Free Trade Agreement (NAFTA) as regional dummies and designed a real trade bloc induction variable. In addition, the study did not use the commonly adopted ordinary least squares (OLS) estimation but used the PQML method to estimate the gravity equation to overcome the problem of a large number of zero trade observations. Preliminary results show that regional integration cannot guarantee the establishment of intraregional trade but depends on the stage of economic development and regional industrial characteristics. Findings The major findings are summarized as follows. Both liner shipping connectivity and logistics performance have significant advantages with positive coefficients in each regression results. The creation of intraregional trade is not guaranteed, depending on the characteristics of the trade and the stage of economic development of the region. For RCEP, the effect created by intra-regional trade is better than the EU. Instead, the “nominal” intra-RCEP trade was significantly below the “real” trading blocs. For RCEP, the effect created by intra-regional trade is better than that of the EU. Instead, “nominal” intra-RCEP trade is much lower than “real” trading blocs. The real trading bloc between East Asia and Taiwan clearly exists, and the bloc phenomenon is becoming more and more significant. This result shows that Taiwan’s trade flow with East Asia is higher than the normal level relationship implied by its corresponding economic and geographical conditions. Originality/value This paper focuses on new empirical work done for this study is on the potential impact on trade. Earlier studies that have discussed and/or provided estimates of the benefits to the RCEP plan from improved transport and supply chain connectivity are cited. Marine transportation performance inherently links to economies of commerce. Few studies have examined regional integration in the context of maritime transportation, which reflects the lack of a mix of trade economists and maritime logistics research in the existing literature. This paper attempts to investigate the trading bloc phenomenon formed by regional integration (such as RCEP) and the relation between trade and marine transportation. With the official entry into force of the RCEP in 2020, it will promote increased trade and demand for logistics and maritime transport services in East Asia.

Purpose The purpose of this paper is to provide perspective on whether and why global metro house prices have become more synchronized, and perspective on the limited implications of this for investing in international real estate. Design/methodology/approach This paper reviews main findings from the literature on house price determination, reviews the emerging literature on global synchronization, and provides graphs to illustrate main points and trends. Findings House prices have become somewhat more synchronized likely reflecting greater correlation in long-term interest rates and macroeconomic cycles related to trends in globalization and international portfolio diversification. Nevertheless, this trend has not been continuous, reflecting that house prices depend on other fundamentals, which are not uniform across areas. Theory and evidence indicate that the more common are fundamentals, the more synchronized are house price cycles and the more substitution effects may matter. Also, real estate markets that are open to immigration and foreign investment have become more sensitive to shifts in the international demand for property by migrants or investors. Research limitations/implications Changes in international house price synchronization stem from variation in two categories of key drivers of house prices. The first are traditional supply and demand fundamentals. The second include international capital flows and immigration. Both sets of factors are sensitive to the economic environment and public policy. Increased synchronization of business cycles, the Euro currency union, and more common monetary policy strategies and tactics have fostered greater correlation of real interest rates across countries, which tend to increase house price synchronization. These effects can be amplified by the tendency for property owners to use extrapolative expectations of future house prices. Practical implications Shifts in prospective returns and the synchronization of international property returns not only on arbitrage of general property price differentials but also on underlying factors driving those differentials. Investors need to be mindful of the risks that metro prices sometimes reflect bubble-builder dynamics that can give rise to over-shooting of house prices. Observing simple correlations and changes in those correlations does not do away with the need for careful analysis of property investment, and if anything, warrant analysis of both how and why one may observe changes in the extent to which international house prices is synchronized. Social implications Despite the rise of globalization and of new technologies, the author has seen substantial divergences in house prices emerge across gateway cities and metros in less vibrant areas within countries. These reflect not only the impact of stronger income and population in more tech, educated and global oriented cities but also changes in the demand for amenities toward more culturally appealing cities, often – but not exclusively in – warmer or coastal areas where the supply elasticity of housing is often limited. Further complicating investment decisions are potential shifts in housing or immigration policy that can notably affect the demand for housing. Originality/value The paper provides practical perspective on why different groups of international cities have seen their house prices become more sychronized. Nevertheless, increased synchronization has occurred within an elite set of major cities, but in an environment house prices have diverged across gateway cities and metros in less vibrant areas within countries. The paper helps investors make sense of some recent patterns and recent prospects for investing in international real estate.

PurposeStudies on inter-firm relationships have recently shifted their attention from dyadic networks to more globally driven network structures. This condition occurs because embeddedness in global network structures may improve firm innovation and performance. In addition, the improvement of firm innovativeness and performance seems higher when globally networked firms both compete and cooperate between and among them. In this paper, we categorize the simultaneous interplay of cooperation and competition in the global arena as global network coopetition (GNC). Under GNC, multinational enterprises act jointly with their global partners-rivals to improve performance, at the same time by sharing complementary resources (cooperation side) and by undertaking independent actions to enhance their own performance (competition side). This paper aims to expand existing research on network and global coopetition by shedding light on the effects of coopetition between and among firms belonging to global network structures on value capture and innovation performance.Design/methodology/approachUsing a sample of 100 firms belonging to 14 industries organized in 47 global networks of different sizes, the authors conducted a longitudinal empirical study over the period 2000-2014 covering 1,098 observations, 1,717 interfirm relationships and 78 inter-networks linkages. A multiple regression model on panel data with random effects was conducted on the sample of 1,098 observations related to the global automotive industry to test the research hypotheses.FindingsFindings show that GNC enhances firm performance and innovation outcomes. In addition to GNC, structural characteristics such as network size, network position and network diversity have significant positive or negative effects on innovation and performance outcomes of firms belonging to these global network structures.Research limitations/implicationsOur research offers a contribution to the literature dealing with global networked structures’ effects on firm innovation performance. In fact, it effectively complements prior work on outcomes of coopetition between firms embedded in complex network structures. It also advances research in the area by introducing the notion of GNC as a network by which firms can enhance their innovation performance and, therefore, their global innovation performance. This study has some limitations. First, we acknowledge that it is focused only on 14 global coopetitive networks. It could be promising to extend the scope to integrate other networks. Second, our measures of firm actions as based on a content analysis of news reports related to firms. It would be important to complement this data collection by conducting a qualitative analysis (interviews). Atlast, it could be promising to include the study of customer needs in the new product development process.Practical implicationsOur study also offers some insights into the management of coopetition. In fact, by taking into account the existence of a context in which global coopetition networks play a role, managers may be better positioned to effectively deal with the paradox of being a partner of their direct rivals to improve their firms’ innovativeness and, consequently, achieve good performance, on the one hand, and to maintain relationships within several networks by taking into account their structural properties such as centrality and diversity, on the other hand.Originality/valueWe contribute to extant network coopetition literature in two ways. First, we introduce the notion of GNC to detect coopetition occurrence in global network structures. GNC refers to a context where actors in various networks belonging to different industries and geographies cooperate in a one (or more) innovative project/s, while simultaneously keeping on competing within and between their networks. Second, we contribute to network coopetition by analyzing specific GNC effects on firm innovation performance. In so doing, we can provide a deeper analytical understanding of GNC performance effects on firms operating in global network contexts.

Purpose In sport tourism, an undeniable recent participation trend is the gravitation of amateur athletes to participatory sport events, particularly cycling sport tourism events. This trend presents numerous policy, applied, and scholarly opportunities and challenges. Contemporary trends are identified to guide future research addressing cycling sport tourism events. The paper aims to discuss these issues. Design/methodology/approach This is a collaborative initiative between a major global sport event management organisation and established sport tourism scholars. Industry data are drawn upon to identify contemporary sport event participation trends and thus inform a future research agenda. Findings This paper draws upon industry data and insights to tease out five emerging trends in the participatory sport event sector which scholars should engage with. Research limitations/implications Due to the confidential nature of the company data, there were restrictions in the detail which could be reported. Practical implications Increasing growth in premium quality, physically challenging cycling sport tourism events is analysed. A five-pronged future research agenda is proposed to address contemporary sport event management issues around measuring event impacts; strategic management of events; and leveraging globalisation and emerging markets. Originality/value Based on trends identified in this paper, theoretical concepts are drawn upon to propose a timely, industry-relevant future research agenda into cycling sport tourism events.

Purpose The purpose of this paper is to examine the state of French medium sized business schools in the Grandes Ecole sector of education and how networks and alliances help business schools survive in an ever-changing and global environment. Design/methodology/approach The material for empirical research for this paper was gathered by using a case study method of four small to medium sized provincial Institutions of Management Education in France. Findings The paper demonstrates that all of the business schools studied rely on networks and alliances to face globalisation and internationalise their strategy and seems to follow the three typologies of mergers and acquisitions set down by Napier (1989): extension mergers, collaborative mergers and redesign mergers. At present, the networks and alliances are used on a marginal or peripheral way by networking only a part of the institution at one time. Research limitations/implications Further research at a later date needs to be carried out in order to observe if the pattern will remain or if there may be networks which will start from the core of the institution since the organisations will in the future have more of an international or global culture. Originality/value The value of this paper is to demonstrate that medium-sized business schools can compensate their limited resources and compete in the global education market. Alliances and networks appear as key ways in achieving goals of sustainability and survival.

Purpose The purpose of this paper is to examine the ongoing “new extraction” on the African continent. Contrary to mainstream scholarship and policies that see in law an external variable to remedy the “resource curse,” this paper channels attention toward the role of law as an institution of extraction in the longue durée. Unpacking the close association of law with the conversion of economic surpluses and power into enduring social relationships can help trace the mechanisms by which the uneven and unequal connection between Africa and the world is being negotiated, justified and challenged over time. Design/methodology/approach To this end, this paper deploys an approach anchored in political sociology of law and focuses on the roles played specifically by lawyers to trace the “interconnectedness” between European colonialism on the continent and the consolidation of the contemporary international economic and legal political order. It illustrates this approach with the case study of the “Africa” Bar in Paris as a key site in which extractive deals between multinational corporations and Francophone African states are negotiated. Findings This micro focus helps to explain the dual position of the “Africa” Bar in Paris, as offshore yet connected as it is shaped by both imperial legacies and ongoing waves of globalization into the African continent. Originality/value This approach traces a more nuanced explanation of Africa’s unequal and uneven relationship with the global economy as one shaped by the path of imperial legacies and successive and interconnected waves of globalization across Africa.

Purpose The study aims to explore the extent to which human resources development quantifies the economic growth of BRICS countries under the globalization era by controlling country differences. Design/methodology/approach The study used the Generalized Method of Moments (GMM) and Scheffe pairwise comparison tests to quantify the impact of the variables and the level of difference among the BRICS countries onto human Resources development. Findings The study observes that the impact of human resources development on economic growth of BRICS counties is significant but limited to few countries. The study reveals that countries such as India and South Africa are unable to utilize their human resources efficiently to promote economic growth, as compared with Russia, China and Brazil. The study further argues that there is urgent need of amalgam of various economic development theories keeping in mind the regional needs to extract the positive impact from human resource on economic development. Research limitations/implications The single limitation of this research is that it was not possible to compare the results with other developing countries to unleash the capabilities of human resources development with regard to economic growth at the universal level. Originality/value To the best of the authors’ knowledge, this paper is the first of its kind to analyze human resources development at a much deeper level. The paper has chosen variables which are important from the policy perspective of government rather than the working perspective, which is a great contribution. Further, for human index the variables chose covering major aspects of human development from spending perspective.

Purpose Globalization occupies a central research activity and remains an increasingly controversial phenomenon in economics. This phenomenon corresponds to a subject that can be criticized through its impact on national economies. On the other hand, the world economy is evolving in a liberalized environment in which foreign direct investment plays a fundamental role in the economic development of each country. The advent of financial flows – foreign direct investment, remittances and official development assistance – can be a key factor in the development of the economy. The purpose of this study is to analyze the effect of financial flows on economic growth in developing countries. Empirically, different approaches have been used. As part of this study, an attempt was made to use a combined autoregressive distributed lag (ARDL) panel approach to study the short-term and long-run effects of financial flows on economic growth. The results indicate ambiguous effects. Economically, the effect of financial flows on economic growth depends on the investor’s expectations. Design/methodology/approach To study the short-run and long-run effects of financial flows on economic growth, this paper considers an empirical approach based on the panel ARDL. This model makes it possible to distinguish between the short-run effect and the long-run one. This type of model is based on three estimators, namely, mean group, pooled mean group (PMG) and dynamic fixed effect. Findings Results confirm the existence of a long-run relationship because the adjustment coefficient (error correction parameter) is negative and statistically significant. This paper finds that the PMG estimator is more consistent and more efficient. In the short-run, foreign direct investment do negatively affect economic growth, the effect is no significant in the long-run. On the other hand, the effect of remittances on economic growth is significant in the short-run. However, it is no significant in the long-run. Finally, the results suggest that the effect of official development assistance on economic growth is insignificant; both in the long-run and in the short-run. Originality/value To study the interaction between financial flows and economic growth, some empirical methodology are used such as the dynamic panel data and the autoregressive vector (VAR) model. In this study, we apply the panel ARDL model to analyze the short-run and the long-run effect for each financial flow on economic growth. The objective is to study the heterogeneity on dynamic adjustment in the short-term and long-term.

Purpose The purpose of this paper is to analyse the shifting nature of governance reforms, both at global and national levels, in the increasingly commercialised game of cricket. The authors explore the inter-relationship and linkages between governance and commercialism, and in the process, question the contemporary reliance placed on governance as a generic counter-commercialist force and accountability aid. Design/methodology/approach The analysis is based on a comprehensive analysis of cricketing archives, newspapers and online media. The authors specifically utilise a range of review reports, governance and accounting information from annual reports and websites of the International Cricket Council (ICC) as well as different national cricket governing bodies (NCBs). Findings The paper vividly demonstrates the importance of recognising the specific significance of different cultural traditions and modes of organising – and not presuming a particular form of impact. The findings highlight that the adoption of a dominant market logic by cricket administrators has resulted in a shift in the balance of power in favour of non-western nations. India has emerged as the clear leader and driving force shaping the way cricket is globally governed. The consequences have been profound but not in terms of delivering, enhanced standards of transparency and accountability. Drawing on institutional theory, the paper argues that the scale of the Board of Cricket Control of India’s financial and operational control over the ICC has not only led to an increasingly commercialised game but engendered divergent and highly questionable standards of governance at the level of NCBs. Originality/value Unlike other global games, cricket has an imperialistic root, and has gone through the process of globalisation in relatively recent times. Also, the commercialisation of cricket has resulted in the global economic and power base shifting from the West to the East, giving us the opportunity to study the dynamics between commercialisation and governance in a quite different globalisation context that allows an assessment to be made of the culturally contingent nature of governance as a substantive organising force.

Purpose The purpose of this paper is to propose policy recommendations that resort to the domestic market to achieve inclusive growth from an open perspective. Design/methodology/approach How will economic globalization based on domestic demand affect economic growth and income distribution in an open and large country? With the aim of discussing the mechanism of the impact of expanding domestic demand on the inclusive growth from an open perspective, this paper incorporates the Global Value Chains vs National Value Chains (GVC-NVC) competition, which is triggered by foreign investments attracted by the domestic demand scale into an endogenous growth model with “Schumpeterian Innovation.” Findings Theoretical analysis indicates the following findings: although domestic demand-based economic globalization can promote transnational inclusive growth across countries, it is not conducive to national (domestic) inclusive growth; the impacting effect of domestic demand scale on inclusive growth across countries is subject to the moderating effect of the development maturity of the labor market; and the impacting effect of domestic demand scale on national inclusive growth is subject to the joint moderating effect of the development maturity of the labor market and labor skill structure. Originality/value First, this paper examines the impact of domestic demand-based economic globalization on the inclusiveness of economic growth from an open perspective, which deepens the existing theory of intra-product specialization and inclusive growth. Second, the paper puts the sequential production process into Schumpeterian growth model and reveals the mechanism that domestic demand affects inclusive growth. Third, the study finds that the enhancement of labor market efficiency, transfer payments to low-skilled labor and the creation of a fair competitive market environment will contribute to the globalization of a domestic demand-oriented economy, which provides a policy-making basis for government sectors.

Purpose Social enterprise plays a pivotal role in helping people and communities. Since the global financial crisis of 2008, there has been an upsurge of social enterprise within a local, national and global context. The purpose of this paper is to explore the debates and issues presented by social enterprise in a very complex globalized world. Design/methodology/approach In this paper, the authors apply two geographical case studies: China and India. The purpose for selecting both China and India is their increasing economic super power on the global stage. It is argued that the concept of social enterprise within the geographical context of China and India is significant to their individual economies. Findings The concept of social enterprise within the geographical context of China and India is significant to their individual economies and as explored within the notion of “think global, act local” the conceptual debates of place, space and time enables people to take positive action and enable the development of healthy communities. Originality/value This paper contributes to the discussion around the definition of the nature of social enterprise and gives concrete examples of the contextually specific nature of the term.

Purpose – The paper discusses contributions to the IMR special issue on “Global Consumer Culture: The Evolving Nature of Global and Local Consumption”Design/methodology/approach – The approach is conceptual with illustrative examples.Findings – The reader finds a melange of what we term the 6 Fs of global consumer culture: facts, fantasies, foundations, formations, fights, and fallouts. Offering many novel insights, the papers published in the special issue embody the burgeoning landscape of issues concerning the evolving nature of global and local consumer cultures, their effects on consumers’ underlying decision-making processes, as well as on how these developments are precipitating a paradigm change in global and local branding approaches.Originality/value – This introduction integrates the contributions made to the special issue along 6 facets by discussing future directions for research on global consumer culture

Purpose The purpose of this paper is to examine the provenance, projection, performance and policy concerning Chinese outward foreign direct investment (COFDI) and speculate on the existence of “China’s international strategy”. Design/methodology/approach This study includes a comprehensive review of COFDI. Findings There is evidence of not only the successful coordination of COFDI, but also context, conflict and independent decision making (in Chinese firms) playing an essential role in the determination of the direction, control and outcomes of the outward FDI, respectively. Research limitations/implications There is a great scope for further research on COFDI, as the lack of data prevents definitive conclusions, particularly on the outcomes and performance of the investments. Originality/value The paper presents an original synoptic view of key elements in the globalisation of the world economy and in the projection of Chinese economic power.

PurposeThe paper is a preliminary assessment of coronavirus disease’s (COVID-19) effects on African trade, policy responses and opportunities within the limitations imposed by data and the information currently available and in the lights of other international organizations’ growth forecasts. The study was undertaken to get deeper understanding of the threats and opportunities of COVID-19 on African trade because of the existing interconnected trade networks making African countries to be more vulnerable and increasing number of restrictions and distortions among major traders. This study aims to present strong information required in underpinning sound national, regional and inter-regional policy responses to keep trade flowing.Design/methodology/approachTo assess COVID-19’s effects on African trade, policy responses and opportunities, this study relied on data and information currently available from organizations such as World Trade Organization (WTO), World Bank (WB), Organisation for Economic Co-operation and Development, International Monetary Fund, European Union, International Trade Statistics and various African countries’ trade and national statistics publications. The analysis contains two main scenarios. The first, an observed effects scenario (first quarter of year 2020), looks at the observed effect of COVID-19 outbreak on trade in Africa. The second, a potential effects scenario, analyses the potential trade effects if the COVID-19 outbreak lingers and spreads more intensively than is assumed in the baseline scenario.FindingsThe COVID-19 outbreak affects several aspects of international trade even though the full effects of the outbreak are not yet visible in most trade data. Some leading indicators had shown that keeping trade flow can support the fight against COVID-19 as well as having damaging effect on Africa’s trade. COVID-19 had led to a deep fall in transaction, both at the international level and within-regions. Tariffs and other restrictions to imports harm the flow of critical products to African countries. Uncooperative trade policies lead to higher prices of goods in fragile and vulnerable African countries.Research limitations/implicationsLong term in-depth analysis of the effects of COVID-19 on trade using quantitative data is still very difficult because of paucity of data and the great level of the improbability of the trajectory of the spread of the virus. Informed assessment of the full trade impact of the pandemic on African countries is therefore still difficult. Notwithstanding, this study assesses the immediate effects and conveys the likely extent of impending African trade pains and the potential needs for assistance.Practical implicationsTrade in both goods and services plays a key role in overcoming the pandemic and limit its effects by providing access to essential medical goods to treat those affected, ensuring access to food, providing farmers with needed inputs, support jobs and sustain economic activity during global recession. However, temporary COVID-19 trade measures such as borders closure, export prohibition and import ban are a threat to globalization and free trade agreements engaged by some African countries.Social implicationsThe continuous rise in COVID-19 cases is expected to trigger economic recession in Africa despite a rapid expansion and creation of new social protection programmes. The unavoidable decline in trade caused by COVID-19 is already having painful consequences on the economy, social anxiety among families, households, businesses and trade across countries in the continent. COVID-19 trade restrictions aimed at reducing the transmission of the virus have led to loss of income and jobs as well as closure of small and vulnerable businesses. Policymakers should enforce social policies that unite countries within the continents in bad times to reduce social anxiety and hardship.Originality/valueAlthough the effects of COVID-19 outbreak on global and regional trade have received enormous attention recently, facts in the form of data have been thin particularly on African trade. This paper, to the best of the authors’ knowledge, is one of the first set of studies that provides preliminary assessment of COVID-19’s effects on trade in Africa using scenarios-building approach based on the available data and information on regional trade, complemented by those from the WTO, WB and departments of trade and statistics from various African countries such as the Nigeria Nation Bureau of Statistic and Kenyan National Bureau of Statistics.

Purpose The purpose of this paper is to analyze the operations of the quality management systems (QMS) in multinational companies, and develop a framework for classifying the QMS features based on the global operational and marketing structures arising from their expansion process. This paper is based on doctoral research conducted at the Department of Statistics, University of Haifa, Israel in 2007–2015. Design/methodology/approach This study used the innovative approach of adopting a systems perspective in analyzing the operation of a global QMS. In total 18 multinational companies at different levels of global expansion were studied in depth using observations, longitudinal studies, content analyses and depth interviews. Findings The result of this study is the global hierarchical model (GHM) that presents a classification of representative global operational and marketing structures deriving from the expansion process of multinational companies, and the extrapolated features of the respective global QMS. Practical implications This classification serves as a diagnostic tool for identifying the proper globalization level of a QMS, thereby helping plan global quality strategy and identifying the steps necessary for its effective implementation. Originality/value This research seeks to fill a lacuna in the field of global quality system development with regard to modes of competition and challenge. Integration of strategic, operational and marketing rationales into the QMS’s processes augments the functional level of management and supports the development of a strategy for global quality management that is derived from and supports the company’s global strategy.

Purpose Once one of the most prominent economies in the world, Japan is currently suffering from economic stagnancy. To revitalize the economy effectively, the core problems of Japan and its economy need to be first identified. This paper aims to understand accurately what the fundamental reasons are for Japan’s current economic stagnancy. Design/methodology/approach The generalized double diamond model, which is an extension of Porter’s original diamond model is used to incorporate internationalization which is very important for Asian countries, notably Japan. Furthermore, its competitiveness is compared with neighboring countries that are in competition in the global market. Findings Japan’s current economic problems and its slow recovery are because of a lack of globalization vis-à-vis its counterparts in the region, rather than specific macro-economic factors. Hence, further globalization is crucial toward ensuring a further take-off for the economy. Practical implications Macro-economic policies may be important but cannot directly improve a nation’s competitiveness. This paper highlights the importance of globalization and concludes that multinational activities are crucial to enhance a nation’s competitiveness in both domestic and international scope. Originality/value This paper adopts the concept of national competitiveness to examine the fundamental economic problems of Japan’s slow recovery and stagnancy more comprehensively. In particular, it compares the competitiveness of Japan with its neighbors which are its economic competitors.

PurposeThe purpose of this paper is to provide a historical account of organizational citizenship behavior (OCB) based on the existing literature.Design/methodology/approachThe paper performs keywords search of published articles from 1930 to 2017 in widely used research databases.FindingsThe historical review shows that the OCB, as a field of study, was slow to develop. Although it has been introduced in the late 1970s and officially defined in the 1980s, its origins can be traced back to the 1930s. Despite this, OCB is generally regarded as a relatively new construct and has become one of the biggest subjects studied in the literature. OCB has reached far and wide into the business and management domains, supporting the fact that the well-being employees and their behaviors can greatly affect organizations’ effectiveness and performance. Having been the topic of a significant number of studies, there have been inconsistent research findings regarding the concepts. Furthermore, some concepts have been noted to overlap, with several scholars using different terms for essentially similar concepts.Originality/valueThe advent of technology and globalization has greatly affected organizations today which resulted in increased competition in the global business. Firms have started to look into the behavior exhibited by employees as a means of achieving competitive advantage, such as OCB. Voluminous works have been conducted regarding the study of OCB; however, none have been recorded to make an in-depth exploration of when and how it first surfaced. Since its official introduction, explorations regarding OCB have dramatically increased, most especially in the twenty-first century. Unfortunately, this has resulted in an increasing difficulty to keep up with the theoretical and empirical developments in the literature. As interest in OCB continues to grow, coherent integration of the concept becomes progressively more complex and necessary. This paper looks into the chronological evolution of the OCB, giving precise details of its development from the time it was first conceptualized up until the present wherein OCB has been used to indicate organizational effectiveness and performance.

Purpose The current era of globalization is dominated by the rise of investments in intangible capital rather than tangible capital – the ascendance of creativity over plant and equipment. This brief paper is motivated by the possibility that emerging market economies such as Morocco might take greater advantage of new tools and policies designed for this new era. The paper aims to discuss these issues. Design/methodology/approach To begin, the author discusses the transformation of the global economy and the consequences of the transformed global economy for economic thinking and measurement. The author refers to both old and new literature on the measurement of intangible investment and capital. Findings Then, the author discusses the rising role of creativity and cultural difference in the development of these new economic forces, using the example of the Harry Potter book series. Originality/value The author then considers how cultural enhancement serves multiple purposes for a nation. Finally, the author turns to some of the possible implications of these economic forces for Morocco, stressing that these implications are speculative.

Purpose The purpose of this paper is to perform a systematic cross-country comparison of key features of industrial relations in Europe in a context where consolidated post-war institutions are under attack on many fronts. The author discusses a number of key similarities and differences across the countries of Europe, and end by considering whether progressive alternatives still exist. Design/methodology/approach This paper draws upon academic literature and compares the contributions to this special issue in the light of common problems and challenges. Findings The trend towards the erosion of nationally based employment protection and collective bargaining institutions is widely confirmed. In most of Central and Eastern Europe, where systems of organised industrial relations were at best only partially established after the collapse of the Soviet regime, the scope for unilateral dominance by (in particular foreign-owned) employers has been further enlarged. It is also clear that the European Union, far from acting as a force for harmonisation of regulatory standards and a strengthening of the “social dimension” of employment regulation, is encouraging the erosion of nationally based employment protections and provoking a growing divergence of outcomes. However, the trends are contradictory and uneven. Originality/value This paper contributes to an updated cross-country comparative analysis of the ongoing transformations in European industrial relations and discusses still existing progressive alternatives.

This paper aims to examine the relevance of the theory of comparative advantage in the present realities of a world undergoing de-globalisation, that is, a retreat from closer integration.,This paper presents eight arguments that analyse the theory as posited by Adam Smith and David Ricardo and that theory remains the underpinnings for trade liberalisation as regulated by the World Trade Organisation (WTO).,The arguments do not contend with the role and achievements of the WTO in the era of globalisation. Rather, these call for an acknowledgement of the changing realities of countries in the face of changes in the political, economic and legal landscapes, across the globe.,This is an original submission by the author.

The recent vote for Britain to exit the European Union and the election of Donald Trump as the President of the USA has been described as events that bring an end to globalization and indeed seen as a reversal of the globalization process. A possible reason for this is that both choices are thought to be premised on inward-looking objectives rather than having global objectives. This paper aims to offer an opinion that this view is flawed. This is because integration, which is used to approach globalization, is not a one-way process seeking greater levels of integration, but rather a tool to address global challenges, which will involve making choices on the degree of integration that is thought necessary at a particular time. In other words, based on what is perceived as necessary at a given time, selective interconnectivity is used to reflect the level of integration desired. Owing to the degree of global income inequality, a high degree of integration will pose difficulties as a shift in production centres. Further, immigration will bring not only economic but also socio-cultural and political implications in even the economically strongest nations.,The paper considers the definition of integration to justify why there are limits placed on the level of integration. In this regard, when the position of individual components is so unequal, there will be limits put on levels of integration due to economic, socio-cultural, and political concerns.,Delocalization does not exist. The Brexit vote and President Trump’s Presidential bid success are all part of the globalization process, where from time to time, the levels of integration will slow down. This does not suggest backtracking on globalization.,The discussion and analysis in this paper are significant as they offer an unexplored perspective into current discussions on the Brexit vote and President Trump’s election into office. The discussion and analysis are rigorous in that they are precise and robust in examining the historical evolution to the international trading system to explain why the predominant view on deglobalization is a misunderstanding of the matters that influence globalization and integration.,The paper offers a practical and logical explanation to concerns regarding what is termed as deglobalization by providing an analysis and insight into the current global challenges, in particular income inequality, as an environment within which choices have to be made.,In the discussion, subsequent to Trump’s successful bid for US presidency and the Brexit vote, there has been a frenzy in opinions regarding the implications of these milestones. This paper debunks the exaggerations offered by explaining how and why these milestones are nothing new by examining the history of the international trading system.,This paper is original as it offers a fresh perspective on the deglobalization debate. It provides a discussion from the global income inequality perspective to explain why and how important are global challenges upon domestic choices and how this, in turn, relates to globalization and integration.

Purpose The purpose of this paper is to investigate the long-run performance of a unique set of US domiciled firms that have bypassed the US capital markets in pursuit of their initial public offering (IPO) overseas. Additionally, this paper then tests the popular underwriter prestige impact and the window of opportunity hypothesis on this unique subset of IPOs. Design/methodology/approach Using a sample of foreign and purely domestic IPOs made by US firms from 2000 to 2011, this study investigates the long-term performance, one-, two- and three-year by using two measures (buy-and-hold return and cumulative abnormal returns) to test the long-run returns of newly listed companies. Finally, the research incorporates both the traditional matching methodology (issue year and size) along with propensity score matching methodology. Findings FIPOs of US companies underperform DIPOs and their matched DIPOs; furthermore, FIPOs underperform the index of the two listing countries they use the most (UK and Canada). Although the choice of a reputable underwriter mitigates underperformance, the choice of listing in a foreign country only may be a result of possible high valuations accorded by foreign investors who buy US-listed companies on the domestic exchange possibly for reducing exchange rate risk and gaining US diversification without incurring additional costs. It is, thus, possible that US companies that undertake Foreign IPOs not only escape potentially higher Security and Exchange Commission regulations and disclosure but also benefit from higher valuations in the foreign markets. Originality/value To the best of the authors’ knowledge, this is the first study to investigate the long-term performance of US firms bypassing the US capital markets in pursuit of their initial equity offering elsewhere. Caglio et al. (2016) investigated why firms decide to pursue such equity raising activity but fail to investigate the firms’ actual performance after issuing equity. This research fills such a gap in the literature and is important for both academics and practitioners. Practitioners can use this information in assessing the quality of such investments in the long-run, and firms can use such information when determining the different options of issuing equity. Further, regulators should be aware of the implications that increased regulations have on capital raising activities in their domestic market.

PurposeThe purpose of this paper is to propose a conceptual framework associating globalization, workforce diversity, and deviance and suggest micro-macro HRM strategies to overcome challenges associated with the workforce diversity and workplace deviance.Design/methodology/approachA systematic review of literature of past 25 years was carried out with the key word “globalization, workforce diversity, and deviance” from several electronic databases.FindingsFindings propose micro-macro HRM strategies to be adopted by HR practitioners in Association of Southeast Asian Nations (ASEAN) organizations to manage workforce diversity and deviance in the age of globalization.Research limitations/implicationsThe challenges due to workforce diversity may get worse because ASEAN is more incongruent in terms of phases of economic, social, cultural, and political advancement. Therefore, proposed model can be tested and compared in different ASEAN organizations.Originality/valueThere is a dearth of literature associating globalization, workforce diversity, and deviance. This paper bridges this gap by proposing a conceptual framework in the ASEAN context and suggests micro-macro HRM strategies to be adopted by HRM practitioners to overcome associated challenges with workforce diversity and deviance.

PurposeThe purpose of this paper is to present a forward-looking case of climate change induced displacement in the Pacific Islands as a multidimensional phenomenon with a moral dimension. Instead of seeking to provide a definitive solution to an imagined problem, the authors have identified the complexity of the situation through an exploration of the accounts of place and accountability for the consequences of displacement.Design/methodology/approachThe paper explores displacement from a sociological perspective. The authors use the sociology of worth (SOW) to anchor explicit and competing moral claims in an evaluation regime that considers questions of justice and the common good. The public accounts of place in the Pacific Islands provide the empirical material for a consideration of a situated crisis. While SOW is generally adopted for current crises or disputes, this study explores the pre-immigrant story and a future case of displacement. Bauman’s (1998, 2012) perspective on globalization is used to narrate the local conditions of place in a global context as reflective of a dominant social order.FindingsSince place is a multidimensional concept and experienced according to various states of being including physical, functional, spiritual and emotion or feeling, displacement is also felt at a multidimensional level. Thus to provide an account of a lived experience and to foster a moral accountability for climate induced displacement requires a consideration of multiple accounts and compromises that need to be considered.Research limitations/implicationsAs with the majority of accounting research that is concerned with the suffering of those at a distance, we too must tackle this conundrum in a meaningful way. As members of a society that is the largest per capita emitter of greenhouse gas, how do we speak for our drowning neighbors? The paper concludes with some insights from Boltanski (1999) as a way forward.Originality/valueThe paper presents a forward-looking scenario of a looming crisis from a sociological perspective. It adds to the literature on alternative accounts by using stories, media, government reports and other sources to holistically build a narrative grounded in a current and imaged social order.

Purpose The purpose of this paper is to advance the understanding of the “globalisation” of management control systems (MCSs) by investigating whether and why budget control structures established in German headquarters (HQs) are transferred to their Chinese subsidiaries and whether and why these structures are (not) used as intended by the HQs. Design/methodology/approach The research is based on a field study comprising 23 multinational companies (MNCs). Following a dyadic research design, representatives of the German HQs and Chinese subsidiaries were interviewed. Data were collected during 58 semi-structured interviews with 78 management accountants and managers. Based on cross-case analyses, commonalities and differences were identified that provide insights into contextual influences that shape the way, in which global MCSs are de facto used at the subsidiary level. Findings The study provides evidence for different receptions at the subsidiary level. While the budget control structures established in the German HQs guide managerial decision-making in some cases, they get modified or even rejected in others. The findings suggest that these receptions are particularly contingent on the perceived utility of budget control structures among the locals, which is interrelated with the perceived predictability of future developments. In particular, the findings suggest that HQs may impact the paths of travel, given that an ex ante adjustment of global budget control structures may reinforce the reproduction of practices at the local level. The decision to adjust the structures is contingent on organisational characteristics. Research limitations/implications The paper encourages further research on the contextual influences that impact how MCSs established at the HQ level are used at the subsidiary level. The paper focuses primarily on environmental peculiarities, which are potentially less important for management control devices other than budget control. Thus, the generalisability of the findings of this paper to other management control devices may be limited. Practical implications The findings suggest that MNCs should consider how foreign employees receive global MCSs established at the HQ level and take the locals’ perception of the utility of structures into account. Adjusting global structures without undermining them may reinforce their reproduction at the local level. Originality/value Based on a field study approach, the paper provides the first cross-case analysis that sheds light on the contextual influences on the ways, in which global budget control structures are used in foreign subsidiaries. Moreover, the simultaneous consideration of the HQ and subsidiary levels allows for an exploration of the complex interplay between actions and perceptions at the different levels. Eventually, the paper provides first evidence on the globalisation of management control structures within a setting with considerable economic, political and cultural disparities. The paper encourages and serves as a point of departure for further research culminating in a framework comprising important drivers of the globalisation of MCSs at different levels (e.g. environmental, organisational, individual).

PurposeThe purpose of this paper is to analyse the new Russian law on Money laundering. Globalisation has turned the international financial systems into a paradise for money launderers. As much as globalisation has expanded opportunities. The purpose of this paper is to analyse the new Russian law on money laundering which brought some changes to the existing system was introduced in Russia in 2002. Even though it has improved the regulation on money laundering greatly, it has failed to efficiently combat terrorism. Overall, the Russian anti-money laundering regime has proved ineffective in terms of meeting its stated purposes of combating organised crime and terrorism. The limited success of the Russian anti-money laundering law stems largely from the fact that Russian banking system is structurally weak.Design/methodology/approachThis paper analyses the problems through literature review. Also, the problem will be looked at from an international law perspective, explaining why Russian efforts will not be efficient as long as no consensus is reached at international level.FindingsThis paper starts from the premise that Russian made great effort to comply with international recommendations but that its law fails to efficiently deal with terrorism finance partly due to the fact that no consensus exists at international level as to the definition of the terrorism. Furthermore, the doubt persists as to the real aim pursued by Russian Government while enacting the money laundering law.Originality/valueFew papers have been published about money laundering in Russia, but none of them look at the problem of the lack of definition of terrorism at international level to explain the deficiencies of the system in place.

Purpose The purpose of this paper is to provide a new empirical evidence on the impact of economic globalization on the efficiency of the banking sector. The paper also investigates to what extent the internal (i.e. bank specific characteristics) and external (i.e. macroeconomic conditions) factors influence the efficiency of banks while controlling for the impact of the different dimensions of globalization. Design/methodology/approach The analysis is confined into two stages. In the first stage, the authors employ the bias-corrected data envelopment analysis method to compute the efficiency of individual banks during the period 1999-2012. The authors then use bootstrap regressions to examine the impact of economic globalization on bank efficiency, while controlling for the potential impacts of contextual variables. Findings The empirical findings indicate that the impacts of personal contacts, information flows, and cultural proximity seem to work in favor of Malaysian banks’ efficiency. A plausible reason could be due to the fact that capital account liberalization is usually accompanied by liberalization of the financial services sector, resulting in a greater competition and subsequently eroding monopolistic profits. The empirical findings also bring forth the importance of and political globalization in determining the efficiency of banks operating in the Malaysian banking sector. Originality/value The present study aims to provide for the first time empirical evidence on the performance of the banking sector and to establish new empirical evidence on the impact of globalization. The empirical evidence on the impact of globalization on the banking sector is completely missing from the literature.

Purpose The purpose of this paper is to discuss the political turbulence of the times and discuss how political movements and political events that appear to be shocking to many are linked with major transformations in the global economy in recent decades. The author shows how the political and economic situation will likely have little impact on tourism inflows in major developed countries in coming years. Design/methodology/approach The paper explores global changes since the end of the Cold War and how this has impacted upon potential tourists in tourist source markets and host destinations. It is a global analysis, exploring changes since the Cold War. Findings Western countries will continue to experience all sorts of political and social turbulence for the foreseeable future, as their populations become increasingly bifurcated in terms of their wealth and the fiat currency system and fractional reserve system of banking reaches the limits of what it is capable of. However, this does not necessarily mean that tourists will be deterred from travelling to developed countries, as long as the developed countries shield visitors from social upheaval and politically unpleasant events such as strikes, riots, and demonstrations. Practical implications The practical implications are that managers in the tourism industry should become increasingly aware of the widening gap between the rich and poor in developed countries and prepare for the political and social shocks of dealing with this phenomenon. The phenomenon will have political expression in political movements that will pay lip service to populist demands but will also have expression in disappointed populations that will take part in social unrest of all sorts. Managers should prepare for various expressions of unrest in developed countries that had not been so widespread, including strikes, demonstrations, and riots. Originality/value This paper discusses the ascendency of Donald Trump to the US Presidency and the increasing visibility of other political nonconformist movements in western countries as a possible threat to tourism in developed countries. It links the changing political and social reality of citizens since the end of the Cold War to the future role that developed countries will play in the tourism industry, largely as hosts to the world’s affluent class created by globalization.

Purpose The corporate reputation of a firm and reputation risk is becoming increasingly important because of the rise of social media and the ongoing globalization. While defining and measuring corporate reputation and reputation risk represent the first steps in corporate reputation (risk) management, there is no general agreement in defining and measuring these two terms. Hence, this paper aims to give an overview of the existing literature in this regard, discuss it with respect to the operability in corporate reputation (risk) management and, based on this, present a holistic and consistent approach to define and measure corporate reputation and reputation risk. Design/methodology/approach The paper gives an overview of the literature regarding definitions and measurement methods of corporate reputation and reputation risk. Moreover, it discusses such definitions and measurement methods with respect to the operability in corporate reputation (risk) management. Findings Based on an overview of the literature regarding definitions and measurement methods of corporate reputation and reputation risk, the authors present a holistic and consistent approach to define and measure corporate reputation and reputation risk. Originality/value The authors present an holistic and consistent approach to define and measure corporate reputation and reputation risk with focus on (risk) management purposes.

Purpose The aim of this paper is to provide novel insights into how the cosmopolitan mind-set can be fostered at a time of globalization by considering a group of social actors that has received scant attention in the literature on institutional change, notably migrant entrepreneurs. Design/methodology/approach This is a conceptual study that draws on Bourdieu’s theory of capital to develop a set of testable propositions as to how the economic, cultural, social and symbolic capital endowments of migrant entrepreneurs shape their agency in bringing about cosmopolitan transformation. Findings Together, migrant entrepreneurs endowed with higher levels of capital may act as institution reformers and promote the cosmopolitan mind-set by influencing the beliefs, incentives and behaviors of those embedded in more entrenched traditional institutions. Research limitations/implications This conceptual framework deals with only one of the many agents that may help bring about cosmopolitan change and is particularly well suited to a Western European context. Practical implications This conceptual paper provides a number of testable propositions that can be central to an empirical investigation into how the levels of capital possessed by migrant entrepreneurs affect their engagement in cosmopolitan change. Social implications The findings help identify those individuals who are more likely to endorse the cosmopolitan movement. This implication may be of particular interest to policymakers concerned with conceiving ways of counteracting some of the negative effects caused by globalization, as they need to identify and understand the social agents who can take on the role of catalyzers of public reforms. Originality/value The novelty of this paper lies in the development of a set of propositions that shows how divergent change toward a cosmopolitan vision might be engendered by spatially dispersed actors endowed with varying degrees of economic, cultural, social and symbolic capital.

PurposeThe purpose of this paper is to document the role of diaspora networks in enhancing cross-border flows of goods, capital, and knowledge, eventually contributing to efficient specialization, investment, and productivity growth in the migrants’ home-countries. Particular attention is paid to the role of skilled migrants, and to information imperfections reduction as the main channel for the documented effects.Design/methodology/approachThis paper reviews a growing literature on migration and globalization, focussing on its relevance for developing and emerging economies.FindingsIn reviewing the literature on the effects of migration on other dimensions of international economic interactions, this paper shows that migrants contribute to the integration of their country into the world market, which can be particularly important for economic growth in developing countries.Originality/valueIt documents the role of diaspora networks in enhancing cross-border flows of goods, capital, and knowledge, eventually contributing to efficient specialization, investment, and productivity growth in the migrants’ home-countries. Particular attention is paid to the role of skilled migrants, and to information imperfections reduction as the main channel for the documented effects.

Purpose The purpose of this paper is to explore how human resource (HR) managers in garment factories in a Sri Lankan export processing zone (EPZ) navigated the tension between their role as stewards of employee welfare and their role to maximise firm productivity in response to time and production pressures imposed by international buyers. Relatively little attention has been paid to the role of HR managers as liaisons between firms and labour. This omission is significant, given the importance of human resource management in the recruitment and retention of labour and the role of HR managers in organisational performance and regulatory compliance. Design/methodology/approach A qualitative approach was used based on interviews with 18 HR managers, factory managers and other key informants, and 63 factory workers from 12 firms in the Katunayake EPZ. The interviews and focus groups in English were transcribed and coded into themes arising from the literature and further developed from the transcripts. Initial codes were analysed to identify common themes across the data set. Findings HR managers were acutely aware of the competitive pressures facing the EPZ garment factories. While examples of company welfarism were evident, HR practices such as incentive payment systems and the management of employee absences reinforced a workplace environment of long hours, work intensification and occupational injury. Originality/value This paper goes some way towards filling the gap in our understanding of the roles played by HR managers in garment factories in the Global South, raising theoretical debates regarding the potential for HR managers in developing countries to distance themselves from the negative consequences of HR practices such as individual and team reward systems.

Purpose The purpose of this paper is to discuss the contributions that critical realist ethnographies can make to an understanding of the multinational corporation. Design/methodology/approach This paper draws on a discussion of methodological challenges in researching the multinational corporation and the ways in which critical realist ethnographies can respond to these challenges. The example of research on the transfer of management practices is used to illustrate this. Findings Taking the example of researching the transfer of management practices within the multinational, the paper argues that the potential of critical realist ethnography including critical realist global ethnography to contribute to the field of International Business and International Management remains relatively untapped. Research limitations/implications Adopting the sociological imagination of the critical realist ethnographer has implications for the kinds of questions that are asked by the researcher and the ways in which we seek to address these methodologically. Researching from a critical standpoint fruitful empirical themes for further research relate to the experience of change for example in business systems, internationalization of organizations and “globalization”. Practical implications The critical realist ethnographer can contribute insights into the complex social and political processes within the multinational and provide insights into how social structures are both impacting on and impacted by individuals and groups. Ethnographic research located within a critical realist framework has the potential to address questions of how stability and change take place within specific structural, cultural and power relations. Originality/value At the methodological level, this paper highlights the potential of critical realist ethnography in researching the multinational, in addressing significant questions facing the critical researcher and in gaining a privileged insight into the lived experience of globalization.

Purpose– The purpose of this paper is to contribute to the ongoing debate on governance, accountability, transparency and corporate social responsibility (CSR) in the mining sector of a developing country context. It examines the reporting practices of the two largest transnational gold-mining companies in Tanzania in order to draw attention to the role played by local government regulations and advocacy and campaigning by nationally organised non-governmental organisations (NGOs) with respect to promoting corporate social reporting practices.Design/methodology/approach– The paper takes a political economy perspective to consider the serious implications of the neo-liberal ideologies of the global capitalist economy, as manifested in Tanzania’s regulatory framework and in NGO activism, for the corporate disclosure, accountability and responsibility of transnational companies (TNCs). A qualitative field case study methodology is adopted to locate the largely unfamiliar issues of CSR in the Tanzanian mining sector within a more familiar literature on social accounting. Data for the case study were obtained from interviews and from analysis of documents such as annual reports, social responsibility reports, newspapers, NGO reports and other publicly available documents.Findings– Analysis of interviews, press clips and NGO reports draws attention to social and environmental problems in the Tanzanian mining sector, which are arguably linked to the manifestation of the broader crisis of neo-liberal agendas. While these issues have serious impacts on local populations in the mining areas, they often remain invisible in mining companies’ social disclosures. Increasing evidence of social and environmental ills raises serious questions about the effectiveness of the regulatory frameworks, as well as the roles played by NGOs and other pressure groups in Tanzania.Practical implications– By empowering local NGOs through educational, capacity building, technological and other support, NGOs’ advocacy, campaigning and networking with other civil society groups can play a pivotal role in encouraging corporations, especially TNCs, to adopt more socially and environmentally responsible business practices and to adhere to international and local standards, which in turn may help to improve the lives of many poor people living in developing countries in general, and Tanzania in particular.Originality/value– This paper contributes insights from gold-mining activities in Tanzania to the existing literature on CSR in the mining sector. It also contributes to political economy theory by locating CSR reporting within the socio-political and regulatory context in which mining operations take place in Tanzania. It is argued that, for CSR reporting to be effective, robust regulations and enforcement and stronger political pressure must be put in place.