Recent trade wars have confronted the trade policy literature with a major puzzle. How can we explain protectionist tendencies in the context of global economic integration? In this article, I aim to provide an answer to the question why, and under which conditions, internationally oriented companies are in favor of trade restrictions. More specially, I argue that intra-industry trade (IIT) and global value chains (GVCs) give rise to internally conflicting interests on the part of firms, generating incentives to lobby for specific, targeted measures against their closest competitors. To test whether firms’ preferences are translated into trade policies pursued by governments, I use data on trade barriers imposed by Brazil, Canada, China, the European Union, India, Japan, Russia, and the United States. I find compelling evidence that the levels of IIT and to a lesser extent trade in GVCs positively affect the decision to implement selective trade measures—such as bilateral tariffs and antidumping duties—rather than broader forms of trade protection. This result suggests that IIT and GVCs have structurally altered firms’ attitudes toward trade barriers and, consequently, the way in which countries protect their domestic markets against foreign competition.

Business-led conservation of wildlife based on private property rights and formal governance has often yielded inconsistent results. In pursuit of alternative approaches that prioritize long-term sustainability in wildlife exploitation, this paper studies the novel case of the Nivkh people’s bear hunting enterprise, which functioned in the Lower Amur Basin and Sakhalin from the seventeenth to the early twentieth century. I demonstrate that the Nivkh ran their bear enterprise sustainably via a conglomeration of traditional ecological knowledge, religious beliefs, and informal social institutions, satisfying their personal demand for the animal while successfully selling bear furs and gallbladders to foreign merchants. Such developments were also supported by the regional political economy in which the Nivkh retained a large degree of autonomy. The paper highlights the productive impact that ideas of sacrality, human–animal kinship, and reciprocity exert on sustainability in wildlife enterprises while also stressing the importance of careful government policy in relation to Indigenous conservation systems. The study validates its claims through field notes, expeditionary journals, state reports, and historical and ethnographic research.

Political connections have been tested for correlation with outward foreign direct investment (OFDI). Both theoretical rationale and research evidence are mixed. To advance this debate, we conceptualize political connections as a dual-dimensional construct and hypothesize the differential effects of the breadth and the depth of political connections on OFDI. Employing a sample of 2,374 Chinese listed firms, encompassing 15,647 firm-year observations from 2008 to 2016, we find evidence supporting our hypotheses: (1) the breadth of political connections reduces the likelihood of a firm engaging in OFDI and (2) greater depth of political connections increases the likelihood of a firm engaging in the OFDI. Thus, we advise firms to exercise caution when adopting corporate political strategies for internationalization in general and OFDI in particular.

While the innovation behaviors of family firms (FFs) have attracted burgeoning scholarly attention, few studies have investigated how intergenerational succession, one of the most critical aspects of family dynamics changes among FFs, affects innovation behaviors. Based on the socioemotional wealth perspective (SEW), we have introduced a concept of innovation decoupling that refers to the tendency of prioritizing the symbolic disclosures over substantive changes of innovation and proposed that FFs that have experienced intergenerational succession would exhibit a greater extent of innovation decoupling. By tracking a sample of Chinese publicly listed FFs from 2012 to 2021 while applying the machine learning approach, we have confirmed the proposition and further unveiled that such inclination becomes weaker when the focal FF is influenced by the family affective endowment and the successor with ascribed bureaucratic connections. Overall, this study brings new nuances to the knowledge of the innovation behaviors of FFs by highlighting the inter-firm heterogeneities and impacts of family dynamics.

How green are the leaders of US corporations, and are their attitudes reflected in corporate climate policy? Using data on individual contributions to green political candidates, we develop a proxy measure of the personal environmental views of directors sitting on the boards of public companies. Corporate America’s boards have become greener over time, although there remains significant variation in the number of green directors both across and within industries. Accounting for economic interests and outside pressures, firms run by green directors are more likely to make decisions that promote climate action internally—publicly reporting emissions, hiring sustainability officers, and announcing net-zero commitments—and externally, by joining pro-climate groups. The environmental beliefs of board members are robustly associated with pro-climate action, suggesting that the path to corporate sustainability runs through the boardroom.

The current method used by the US Government to calculate benefits and costs does not accurately measure the monetary value of some regulations. The problem is that the method fails to recognize the possibility that individual valuations, reflecting judgments in a relatively isolated, uncoordinated situation, might be significantly different from individual valuations in a situation of coordination. For example, people might be willing to pay $X for a good, supposing that other people have that good, but might be willing to pay $Y to abolish that good, supposing that no one will have that good. Or people might be willing to pay $X to protect members of an endangered species in their individual capacity, but far more than $X for the same purpose, assuming that many others are paying as well; one reason may be that an individual expenditure seems futile. We sketch, identify, and explain this unmeasured value, which we define as coordination value, meant as an umbrella concept to cover several categories of cases in which individual valuation measured in the uncoordinated state might be inadequate. Changing the methodology of benefit–cost analysis to consider coordination value would present serious empirical challenges, but would eliminate the estimation error.

In the behavioral theory of the firm, decision-makers' interpretation of performance feedback information is the fundamental intermediate step between the evaluation of performance and the consequent strategic decision-making. However, such interpretations can be shaped or even distorted by the cognitive lens taken by decision-makers, such as their time concept in terms of biased cognitions of the importance and imminence of the future over the present. This study focuses on the role of a specific temporal bias (the time concept expressed in languages) in shaping the response to performance feedback. On the basis of the baseline proposition of a positive relationship between the underperformance duration (a temporal dimension of performance feedback) and acquisition behavior, we theorize and empirically examine how the future-time reference (FTR) of languages under different conditions shapes the way firms respond to repeated performance shortfalls. Using a sample of 12,309 firms from 12 countries between 2007 and 2019, we find that the FTR weakens the connection between the underperformance duration and subsequent acquisitions. Moreover, slack resources strengthen, whereas political stability weakens, this moderating effect of FTR on the underperformance duration–firm acquisition relationship.

Given the growing trend of using digital platforms for exporters' internationalization, the management of exporters' online internationalization has become a critical issue. However, academic research in this area remains sparse. Specifically, little is known about when and under what conditions exporters may consider discontinuing the use of a digital platform for exporting, i.e., online de-internationalization. This study develops and tests a theoretical framework for these determinants and the contingencies for exporters' online de-internationalization. Specifically, drawing on the de-internationalization literature, we identify sets of internal and external antecedents of exporters' intention to discontinue the use of digital platforms for exporting. Furthermore, we examine the moderating effect of technological opportunism. Based on a unique sample of Chinese exporters registered on Alibaba.com, the world's largest business-to-business platform, the empirical findings support our proposed determinants of online de-internalization. This article ultimately discusses the theoretical and managerial implications.

The operating goals of family firms (FFs) typically include building both economic and socioemotional wealth. Innovation is increasingly recognized as a key source for the development and growth of family firms. From the multiple dimensions of socioemotional wealth (SEW), this research has focused on how family influences a particular type of innovation – green innovation – in family firms. Using 5,071 observations from among the listed firms in Taiwan over an eight-year period (2014–2021), we examined the relationships between FFs and green innovation. The results indicate that FFs are more likely to develop green innovation than their nonfamily counterparts. In particular, there are complicated effects within different types of FFs – control deviation family firms (CDFFs).

Digital technology enables employees to communicate with each other via virtual platforms. Emoji, particularly smile emoji, has received significant attention in virtual communication research. Drawing upon expectancy violation theory, we propose that in digital communications with followers, leader smile emoji usage has a positive effect on follower satisfaction with leader through perceived leader intimacy. In addition, leader smile emoji usage has a negative effect on perceived leader effectiveness through decreased perception of leader power. We further propose that the effects of leader smile emoji usage hinge on follower power distance orientation such that the negative effects of leader smile emojis usage are more pronounced for followers with high versus low power distance orientation. An experiment and a field study supported our hypotheses. Our research sheds light on the benefits and potential pitfalls of smile emoji usage in leader–follower digital communication.

Despite the phenomenon of hybrid emerging market state-owned enterprises (EM-SOEs) in international markets, the complexity inherent in their ownership structure, their paradoxes in institutional and market economies, and concerns about their proximity to the state make it challenging for EM-SOEs to fulfill sustainable development mandates as part of their internationalization strategies. In this study, we propose a biomimicry perspective to investigate how hybrid EM-SOEs with plural institutional demands manage their stakeholder relationships and undertake their corporate sustainability practices in the host market. Shifting from the firm-centric perspective, the biomimicry perspective offers a systems' explanation to spur new insights based on a single in-depth case study in the power generation industry in Indonesia. The findings highlight the importance of a long-term, value-driven strategic approach, emphasizing the cultivation of symbiotic relationships for delivering innovative products and processes to provide renewable energy supply in local markets. Additionally, legitimation practices are observed across three key dimensions embedded in the internal and external systems – governments, local elites, and local grassroots citizens, involving idiosyncratic local stakeholders whose impacts are rather mixed for EM-SOEs' international operations in Indonesia.

The flourishing nature of family business research is evident not only in the growth of the number of studies published in top-tier journals over the past several decades (Daspit, Madison, Nordqvist, & Sieger, 2024; Rovelli, Ferasso, De Massis, & Kraus, 2022) but also in the number of studies that explore family business research outside Western contexts (e.g., primarily the US). An excellent example of such pioneering research is the literature review by Fang, Singh, Kim, Marler, and Chrisman (2022), published in the Asia Pacific Journal of Management. Their paper not only accumulates knowledge about Asian and particularly Chinese family firms (over 30% of articles in Fang et al. (2022) are on Chinese family firms) but also compares the findings to those in Western contexts, inspiring further exploration and theorization.

Most existing literature treats family culture as a static and deterministic factor with a double-edged effect on the competitive advantage (CA) of family firms while overlooking its dynamic nature. Moreover, limited literature addresses how to solve this double-edged problem. This study fills these gaps by examining how family culture can generate sustainable CA from the lens of the affordance perspective. A three-stage process model is developed based on a longitudinal case study of Baiyun, a Chinese family firm with over a 100-year family history. This model suggests that family firms should intentionally adopt appropriate sensemaking and sensegiving strategies tailored to different stakeholders and dynamic entrepreneurship situations to effectively leverage the natural and designed affordances of family culture. By cultivating efficiency, emotional, and value identifications among internal and external stakeholders, these sensegiving strategies facilitate family collaboration, continuous trust, strategic focus, and extensive ecological synergy, which serve as the key sources of CA. Ultimately, the model emphasizes that the key to managing the double-edged effect lies in the four sensemaking strategies taken by family firm leaders. This study sheds light on the dynamic interplay between family culture, environment, strategies, and CA, offering actionable insights for family firms.

How do subsidiaries sell initiatives to their headquarters? Multilayer decision-makers at corporate headquarters, with divergent interests and power, can overly complicate the acceptance process. We present a multi-case study to explore how subsidiaries of a Chinese multinational enterprise convince top management teams and department heads at their corporate headquarters to engage in foreign investments. Building on a micropolitical perspective, we develop a process model of subsidiary micropolitical strategy adoption consisting of (a) political tension retrieval regarding divergent interests and power at corporate headquarters around specific initiatives, (b) selective coalition building whose interests and power are aligned with the initiatives, and (c) a transitive relation leveraging strategy based on the ties of allied headquarters' managers. We further reveal the interplay between corporate motivations (i.e., market seeking vs. strategic asset seeking) and specific micropolitical activities adopted by subsidiary managers. We enhance the understanding of micropolitics in subsidiary initiatives by underscoring how to strategically manage differences among multilayer actors at corporate headquarters. Additionally, we reveal a political view of foreign investment decision-making in addition to rationality.

The international investment regime provides generous protections for foreign investors against adverse legal changes in host states, and unusually strong procedural rights to enforce those protections in investor-state dispute settlement (ISDS). Scholars have observed that the regime enables corporate capital accumulation and raises the costs of climate action, potentially deterring states from adopting ambitious climate policies. Building on this literature, we locate a key source of these concerns in the asymmetric treatment of state and investor behavior in ISDS, which allows investors to depict themselves as innocent victims of “unfair” and “unforeseeable” “political” processes, despite themselves being active political players and sophisticated political risk managers—a tactic we call feigned victimization. This tactic is employed by fossil fuel companies to achieve capital accumulation and climate obstruction goals. We illustrate our argument through an empirical case study of TC Energy’s US$15 billion ISDS claim against the United States in relation to the Biden Administration’s revocation of a permit required to construct the Keystone XL oil pipeline. Our case study also illustrates a method by which states can expose feigned victimization tactics by investors and incorporate evidence of this into their legal defenses in ISDS.

How does family diversity affect the choice of hybrid entrepreneurship? The effect of family dynamics has received little attention in research on the mode of entry into entrepreneurship. Building on the family embeddedness perspective, we hypothesize that the diversity of family households at surface (i.e., age and gender) and deep (i.e., work experience and education background) levels impacts the entrepreneur's adoption of a full-time or hybrid mode to start a new business. We further theorize that the effects of family diversity on entrepreneurial entry decisions are moderated by income stratification, which largely determines the ways entrepreneurs deal with family diversity. Using a sample of 1,320 individual-wave observations from the China Health and Nutrition Survey (CHNS), our findings demonstrate that the choice of hybrid entrepreneurship is affected more by deep-level diversity than surface-level diversity among family households. Moreover, being from a high-strata family strengthens the relationship between surface-level diversity and the choice of hybrid entry, while weakening the effects of deep-level diversity. This study contributes to the ongoing discussion about family dynamics and entrepreneurship variations and provides important theoretical and practical implications.

In the first analysis purporting to causally link environmental pollution to personality, Schwaba and colleagues leveraged a natural experiment driven by the United States. They used the Clean Air Act to assess the impact of decreased atmospheric lead on the “big five” personality traits. Using data from an online personality test taken by more than 1.2 million U.S. residents, Schwaba et al. reported that people born after lead levels had peaked in their county of birth had more mature, psychologically healthy personalities in adulthood (higher agreeableness and conscientiousness, and lower neuroticism) than cohorts born earlier and exposed to higher levels of atmospheric lead. One concern with their findings is that personality differences among people born in different periods could come from factors unrelated to lead, for example, access to abortion and birth control, or demographic, cultural, or technological changes. Schwaba et al. recognized this possibility but did not fully explore it. When we account for cohort-wide changes by introducing birth year fixed effects into Schwaba et al.’s models, the estimated effects of the lead phaseout on personality largely disappear, becoming indistinguishable from zero while remaining precise. Meanwhile, the estimated birth year fixed effects are jointly significant, suggesting differences in personality traits across cohorts. These results indicate that any effects of the lead phaseout on more mature, psychologically healthy adult personalities are not consistently observable in the data used by Schwaba et al. More broadly, they caution against making causal inferences without controlling for time period effects.

While prior research has suggested that justice matters for multinational enterprises (MNEs), whether distributive justice affects a subsidiary's tendency to show initiative remains unclear. In this study, we postulate that the extent to which a subsidiary manager regards the sharing of profit and rewards from the headquarters as fair has a curvilinear relationship with the subsidiary's inclination to take initiative. Specifically, although a low to moderate level of distributive justice can motivate subsidiaries to show initiative, this stimulating effect will diminish when distributive justice goes beyond a certain threshold. We furthermore contend that this non-monotonic effect will differ between low internally embedded subsidiaries and high embedded subsidiaries. Results based on a sample of subsidiaries owned by MNEs in Taiwan support our arguments. Implications for theory and practice are discussed.