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This paper aims to study the direct and indirect influence of three important intangible resources: export knowledge, negotiation skills and specialisation and trustworthiness on export intermediary performance via the competence to reduce clients’ transaction costs.

The study has been provided with the official database of export intermediary firms by the Department of Export Promotion, Ministry of Commerce, Thailand. The samples of 400 export intermediary firms were identified from the 1,486 population firms. The postal questionnaires were sent to sample firms. Ordinary least square regression analysis has been adopted to test the hypotheses of the study.

The results indicate that valuable resources of export knowledge, negotiation skills and specialisation and trustworthiness significantly and positively affect both export intermediary performance and the competence to reduce clients’ transaction costs. The competence to reduce clients’ transaction costs partially mediates the relationship between resources and export intermediary performance.

A “cost-based” perspective needs to be supplemented in future research with a more behavioural approach.

Export intermediaries must be able to deliver “true added value” to remain a viable organisational form, hence, the intermediaries need ceaselessly to acquire, utilise and develop resources and capabilities in reducing clients’ export-related transaction costs.

From a public policy perspective, gaining more knowledge about the role of export intermediaries can greatly facilitate the export promotion efforts in which most nations’ governments are involved.

This study is a first attempt to study the mediating effect of the competence to reduce transaction costs, which mediates the relationship between resources and performance of export intermediary.

The purpose of this paper is to identify and describe the drivers of trading company strategy that explain trading company success in international business.

The strategy tripod that results from combining the industry-, resource- and institution-based views, each of which proposes specific drivers of strategic success, was used as the framework for investigating, in a longitudinal perspective, the drivers of the strategy of a trading company and its success in emerging economies. Data were collected using in-depth interviews, document analysis and non-participant observation and analyzed using content analysis techniques.

Rather than a single driver, the authors found that strategic choices were driven at times by the demands of industrial competitiveness, at times by firm resources and capabilities, and at times by institutional conditions. There was evidence neither of a linear chronological order for these drivers, nor of driver obsolescence. On the contrary, findings suggest that drivers are cumulative and interactive. Changes in organizational resources and capabilities or in competitive or institutional environments can force review and re-thinking of strategic objectives.

Generalization is affected by the fact that the study focusses on the experience of one individual trading company.

From a pragmatic, managerially oriented perspective, the findings show the importance to be alert to all the tripod legs over time, and not belittle the institutional context. This fact is noted by the data, which not realize a timeline or order between the drivers and the strategies adopted by the firm.

The paper is of value in showing the drivers of trading company strategy and the determinants of trading company success in emerging economies using a longitudinal perspective rather than the more usual sectional perspective. In addition, the study is original in simultaneously investigating all three legs of the strategy tripod and providing empirical evidence about how the respective drivers interact over time.

International Business Strategies (IBS) literature deliberated on the strategic planning and strategy implementation of home country firms in foreign markets. IBS had become a very potent growth strategy for firms. IBS as a body of knowledge had become substantial in the last few decades of research. To this end, and as a complex field of study, this paper aims to conceptually map this IBS literature. Hence, the purpose of this paper is to present a visual mapping of intellectual structure in two dimensions and to identify the subfields of IBS through co-citation analysis.

All the citation documents were included in the Web of Knowledge (WoK) database between the years 1993 and 2018. For the multivariate analysis, this study applied a sequence of statistical analyses including factor analysis, multidimensional scaling and cluster analysis. Through these techniques, this research study tried to summarize the condition and status of IBS research by classifying the IBS literature into four categories.

IBS literature has been classified into four categories, namely, evolutionary aspects of IBS; firm strategic objectives and IBS; institutional theory and IBS in emerging economies; and foreign market entry strategies for internationalization.

Based upon the basis of the analysis of extant research in IBS, the current and future extension research topics have been presented. This would help future researchers to understand the white spots for undertaking research in future.

This was one of the very first studies that mapped the International Business Strategy literature and categorized IBS literature.

The purpose of this paper is to investigate the relationships between organizational slack, environmental characteristics, and new venture performance in China. The paper focuses on how different types of organizational slack, such as absorbed slack and unabsorbed slack, impact Chinese new venture performance. And it also examines the moderating effects of environmental characteristics, such as munificence and dynamism, on the slack‐performance linkage in Chinese transitional context.

A literature review on organizational slack and institutional environment characteristics provides the model and hypothesis. Using a sample of 91 Chinese new ventures, the authors conduct the examination on the theoretical model and hypotheses.

The results show that the relationship between absorbed slack and new venture performance is negative and unabsorbed slack has an inverse U‐shaped effect on new venture performance. Furthermore, the institutional environments, such as munificence and dynamism in transitional economies have different moderating effects on the relationship between organizational slack and new venture performance.

This study focuses on the new ventures of China, which is context specific. It is necessary to replicate this research in other transitional economies because of some specific differences between China and other transitional economies.

The results of the study suggest that new ventures should strengthen the management of resources and decrease absorbed slack in order to reduce the managerial cost, and then raise the level of resource utilization. In addition, how the new ventures make better utilization of organizational slack to deal with institutional environment uncertainty would be a core task in future business operations.

The paper is original in its investigation of the effect of organizational slack on new venture performance in contingent transitional environments. The paper explains the relationship between different types of organizational slack and new venture performance from a contingent perspective, thus extending the extant research.

The dependency on human expertise for analysis and interpretation is the main reason for wear debris analysis not being used in industry to its full potential and becoming one of the most powerful machine condition monitoring strategies. The dependency on human expertise makes the interpretation and result subjective in nature, costly and time consuming. The purpose of this paper is to review work being done to develop an automatic, reliable and objective wear particle classification system as a solution to the above problem. At the same time it also aims to discuss some common off line test methods being practiced for wear debris analysis.

Computer image analysis is a solution for some of the problems associated with the conventional techniques. First it is tried to efficiently describe the characteristics of computer images of different types of wear debris using a few numerical parameters. Then using some Artificial Intelligence tools, the wear particle classification system can be developed.

Many shape, size and surface parameters are discussed in the paper. Out of these, nine numerical parameters are selected to describe and distinguish six common type of wear debris. Once the type of debris is identified, the mode of wear and hence the machine condition can be assessed.

The present process of fault and condition monitoring of an equipment by wear debris analysis involves human judgment of debris formations. A set‐up standard for comparison of debris will enable the maintenance team to diagnose faults in a comparatively better way.

The aim of this paper is to discuss the difficulties in identifying wear particles and finding out the exact health of equipment, which, due to its subjective nature, is influenced by human errors. An objective method with certain standards for classification of wear particles compatible with an artificial intelligence system will yield some flawless results of wear debris analysis, which has not been attempted in the past as per available literature.

This comment aims to join the discussion raised by Peng et al. regarding the social responsibility of international business (IB) scholars in the case of Chinese outward foreign direct investment (OFDI), and to provide a subject overview about it.

In response to Peng et al.'s paper, this comment focuses on three issues, i.e. the myth of Chinese OFDI, round‐tripping, and state‐owned enterprises (SOEs).

Owing to a short period of accumulation, the scale of Chinese OFDI stock is small compared to the global total. However, with its momentum, it may become a threat in the long term. Apart from round‐tripping, tax havens such as Hong Kong have multiple functions for Chinese companies to invest in. Although the size of foreign investments conducted by private companies remains small, their role in Chinese OFDI should not be ignored.

The arguments made in this comment are mainly built upon the data from the official publications, which could present a broad but superficial view of the Chinese OFDI. In order to fill research gaps such as the internationalisation behaviour of Chinese OFDI in tax havens, more stories need to be explored.

This comment discusses several issues that have been mentioned by Peng et al. but have been explored less in the literature, such as how to view Chinese OFDI in Hong Kong, and how to view the role of private companies.

This paper aims to explore the interlock-performance relationship among mainland Chinese firms listed in Hong Kong by taking advantage of a relationship-intensive context whereby such a link is likely to be especially important. Although strategic networks such as interlocking directorates have been found to affect a number of strategic behaviors, the link connecting board interlocks and corporate performance has remained ambiguous. Considerable light has been shed on the strategic networks of firms whose shares are listed abroad, which have been under-studied despite their rising importance in the global economy.

Data come from a particularly interesting historical period – the early 1990s prior to Hong Kong’s 1997 handover to China. Both quantitative and qualitative research have been used.

Empirically, it was found that good performance in an earlier period helps draw outside directors in a later period, and that network centrality and certain types of interlocks help improve performance, albeit with varying degrees. Overall, our results answer the question whether strategic networks such as interlocks matter for corporate performance with a qualified “yes”.

Taking advantage of a relationship-intensive context, this article explores the interlock-performance relationship among mainland Chinese firms listed in Hong Kong. Focus is specifically on the two years, 1993 and 1995, due to their specific historical importance because these two years represent the beginning of Chinese firms’ listing in Hong Kong.

This study mainly aims to examine whether entrepreneurs’ utilization of political connections is purely egoistic. Addressing this issue could shed light on traditional debate which concerns whether political connections still have strategic value at advanced stage of institutional transition today in China. Here, at the background of Chinese economic transformation, the utilization of political connections is studied, and a double-role model of the pro-self-mechanism and the pro-social mechanism between political connections and performance in China is put forward.

This study uses survey of questionnaires randomly from 363 entrepreneurs in Jiangsu, Anhui and Shandong Provinces of China and adopts the first stage and direct moderation model in examination.

The results show that there exists mediated mechanism of both pro-self and pro-social mechanism in the relationship between political connections and firm performance. The authors conclude that utilization of political connections is not only purely egoistic but also altruistic. So, both dark-side and bright-side mechanisms of political connections in China are of equal importance. In addition, the authors take into consideration of the contingency effects of institution, industry and firm-level factors of this moderation model. The pro-self and pro-social mechanisms have differences in terms of moderator-within and moderator-between comparisons of these three contingency effects. Among these comparisons, the pro-self-mediating mechanism is most sensitive to changes of institutional quality, whereas the pro-social mediating mechanism is most sensitive to the uncertainty of industry competition.

This evidence furthermore verifies that the process of institutional transition is nonlinear and political connections still have strategic value in advanced stage of institutional transition today.

This study combines the dual perspectives of “give” and “take.” The former implies the pro-social motivation, while the latter implies the pro-self-motivation. Based on the framework of “resource-conduct-performance,” this study explores how these two mechanisms mediate the relationship between political ties and firm performance. In addition, the authors adopt the framework of “Strategy Tripod,” which was proposed by Peng et al. (2009) and examine the difference between pro-self and pro-social motivation at different level of institution environment improvement, industry dynamics and firm absorptive capacity.

The purpose of this paper is to examine an important yet underexplored research question in the literature: What determines the length of contract governing buyer–supplier relationships during market transitions? The length of contract is a solid indicator of the comprehensiveness of a contract. By integrating transaction costs economics, the embeddedness perspective and the institution-based view, the paper develops a model that incorporates specific investments and perceived opportunism, strategies to select suppliers and buyer firms’ confidence in the institutional environment. It further posits how buyer firms’ dependence on suppliers moderates these relationships.

Data were collected nationwide via face-to-face interviews with 328 executives in 164 Chinese firms who shared information pertaining to 774 buyer–supplier contracts. A fine-grained mixed-empirical method was designed to test the proposed hypotheses, to confirm the reliability and to generalize the research findings.

All the proposed factors significantly influence the length of the contract. Results obtained through a moderated mediating model suggest that buyers with supplier-specific investments and that choose market-based selection relative to a relationship-based tend to perceive more opportunism in buyer–supplier relationships, which will lead to shortening the length of the contract. However, the buyer’s perception of opportunism will decrease when buyers perceive higher levels of confidence in their legal institutions.

The study discusses several practical implications for B2B managers who typically involve in interfirm exchanges as well as for emerging economies’ institutions.

Leveraging theoretical insights from transaction cost economics, the institution-based view and buyer–supplier relationships literature, this empirical study adds unique contributions to B2B research in general and emerging economies’ institutional literature in particular.

The purpose of this paper is to investigate the impact of different sources of external financing and internal financial capabilities on competitiveness and sustainability. This paper also studies the nature of their relationships related to regulations on external financing in Chinese capital market.

Resource- and industry-based views provide a theoretical background. Based on balanced panel of 4,530 firm-year observations, hierarchical regressions were used to examine the research model.

Results support the idea that the strict Chinese regulatory regime allows some firms to access capital and debt markets for financing more than others. It was found that firms’ internal financing abilities do not offer a significant advantage compared to external financing abilities; firms’ abilities to raise capital from existing shareholders, the public and easy access to bank financing are related positively for an advantage on firm’s competitiveness within a industry. Firms with the ability to offer shares to existing shareholders, issue non-convertible and convertible bonds and access to bank financing are sustainable in long-run.

This study focuses on sources of financial capability of Chinese listed firm impact on competitiveness and sustainability. It is context specific to a regulated market. Hence, it is necessary to replicate this study in other contexts.

Implications include the need to mobilize external financial resources for small and privately-owned firms and to further reform security regulations to ensure fair competition and sustainability.

The authors originally investigate the effect of sources of financial capability impact on firms’ competitiveness and sustainability in a regulated market. The paper explains the relationships, and enhances the understanding of regulated capital market and existing literature.