This paper analyzes the stock market reaction to global alliance formation in the Spanish context. For the purposes of this study, global alliances are those which are established with international partners in order to coordinate actions in several countries, seeking the development of complementary relationships on a global scale. Using a sample of 72 global alliances formed between 1987 and 1997 by Spanish firms listed on the Madrid Stock Exchange, it shows that the Spanish firms gained an average abnormal return of 0.2 percent on the day of the announcement.
AbstractThis article explores the connections between business activity and development aid that can help achieve the sustainable development goals placed by the United Nations (UN) in its development agenda. The article relies on an exhaustive review of the recent literature on development aid in the context of the European Community of West African States (ECOWAS). Connections exist between private firms' activity and both private and official aid, as firms can engage in business philanthropy, impact migrants' remittances, act as suppliers for bilateral or multilateral financially supported projects and participate in cross sector partnerships that involve agents from different societal sectors.
Purpose– The purpose of this paper is to study the influence of cultural positions on the choice of entry mode in foreign direct investment (FDI) – joint ventures vs wholly owned subsidiaries. The paper focusses on the impact of cultural positions along four cultural dimensions, as well as on the interactions between these positions and FDI's contextual variables (i.e. linguistic differences).Design/methodology/approach– A fuzzy set qualitative comparative analysis is performed on a data set of Spanish investments located in the European Union.Findings– Existence of interaction effects among cultural positions along different dimensions, as well as between cultural positions and FDI's contextual variables.Research limitations/implications– Main limitations relate to the data set, as only FDIS carried out by big corporations and coming from a single country are considered.Practical implications– Managers making decisions on the choice of entry mode must take into account the position relative to each individual cultural dimension, as well as its interaction with other cultural dimensions and FDI's contextual variables, rather than just considering cultural distances (CDs) between countries.Originality/value– First, focus on cultural positions (rather than CDs). It allows taking into account both the cultural characteristics of each party and their relative values along individual cultural dimensions. Second, development of a qualitative analysis that considers the contextual features of the investment.
PurposeThe purpose is to explore the existence of different export manager profiles in terms of managerial attributes and personal traits according to gender. The study aims to answer two research questions: (1) Do export manager profiles differ depending on gender? If so, (2) which are the traits or managerial attributes that differ by gender and which is the relationship among them?Design/methodology/approachThe article relies on a quantitative empirical analysis of a sample of export managers of Spanish small and medium-sized enterprises (SMEs).FindingsOur results point to the existence of gendered export manager profiles that differ in terms of objective managerial attributes, personal traits, managerial styles and subjective perceptions relative to discriminatory practices and detrimental stereotypes. Two gender-specific substitution effects exist: one between managers' experiential skills and their formal education and the other between managers' entrepreneurial orientation and the use of relational networks.Research limitations/implicationsOur data are limited in terms of geographical scope and firms size; therefore, our results are no generalizable without new studies on this issue.Practical implicationsOur findings can help firms to understand the relevance of export teams that encompass different gender managers and benefit from the combination of diverse managerial attributes, personal traits and relational processes in their international growth.Originality/valueGender is an scarcely studied issue in international business and management literature despite its relevance in the international institutional context. This article addresses the gender aspect of export management.
AbstractThis article analysis how official development aid (ODA) flows impact the international growth opportunities and processes of private firms in donor and recipient countries. It explores the differentiated impact of bilateral and multilateral aid flows, as well as flows coming from the Development Assistance Committee (DAC) and non‐DAC donors. The study relies on a systematic literature review of the empirical articles published between 2005 and 2021 in internationally recognised academic journals. The review provides a comprehensive overview of the topic and identifies conclusive findings, existing gaps, avenues for future research and policy implications. Overall, the literature shows a positive impact of ODA flows on the international growth opportunities for firms in donor countries, whether derived from their direct engagement in aid‐financed projects or from non‐direct effects like the reputational capital and positive image accrued by donor countries in recipient ones. Conversely, empirical evidence relative to the impact on firms in recipient nations is mixed and points to the existence of factors that condition the impact of ODA flows, among them, the institutional strength in recipient countries and the formulas through which ODA flows are channelled.
AbstractThe Sustainable Development Goals (SDGs), adopted by the United Nations in 2015 as a universal call to action to end poverty, protect the planet, and ensure peace and prosperity, call on companies everywhere to advance sustainable development through the investments they make, the solutions they develop, and the business practices they adopt. This research work carries out a systematic review of the previous literature related to the adoption of SDGs as a corporate strategy in companies, that shows an exponential increase in the papers related to this topic during the first years after the adoption of the 2030 Agenda. Our findings show that the economic dimension of sustainability has lost lightly interest in the academic world since then, with the spheres of governance and society being predominant, without forgetting the field of protecting the planet, especially about the fight against Climate Change (SDG13/ESG). And despite the importance of the 2023 Agenda for the future of the world, even today there are few reference authors in this field of study.