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Article
Publication date: 28 July 2023

Jakob Müllner, Igor Filatotchev and Thomas Lindner

The purpose of this paper is to bridge the disciplinary divide between international finance and international business (IB) to realign academic research with business reality in…

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Abstract

Purpose

The purpose of this paper is to bridge the disciplinary divide between international finance and international business (IB) to realign academic research with business reality in which strategy and finance align to determine firms’ success or failures.

Design/methodology/approach

The authors discuss theoretical differences between the fields of international finance and IB strategy that caused the fields to develop in isolation with little fertilization across disciplines. The authors review scarce interdisciplinary contributions between the fields. Finally, the authors identify complementarities that suggest fruitful avenues for future research.

Findings

The authors find a persistent disconnect between finance and strategy/IB literature that can be explained by fundamentally different aims and assumptions about the markets. While finance theory seeks to explain typical effects under functioning markets, strategy and IB theories focus inherently on exceptional effects and market inefficiencies.

Research limitations/implications

The fundamental theoretical differences that isolate finance and strategy/IB create avenues for interdisciplinary research that harness the complementarities of the two disciplines. These include strategic aspects of capital structure, internal capital market inefficiencies, corporate governance, capital market liability of foreignness and institutional aspects of financial management.

Practical implications

With this paper, the authors not only bring academic researchers in finance and strategy closer to corporate practice. The theoretical discussion also challenges the functional blind spots of practitioners and encourages more holistic decision-making.

Social implications

Challenging market functioning and recognizing market inefficiencies using strategy and IB foundations connects financial economics with non-market topics such as environment, society and governance or impact investing.

Originality/value

The value and originality of the paper come from the qualitative, epistemological approach to study and analyse the divide between international finance and strategy/IB scholarship.

Details

Multinational Business Review, vol. 31 no. 3
Type: Research Article
ISSN: 1525-383X

Keywords

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Book part
Publication date: 10 December 2018

Jakob Müllner and Igor Filatotchev

In this chapter, the authors review emerging literature on multidimensional, information age-related phenomena across different disciplines to derive common themes and topics. The…

Abstract

In this chapter, the authors review emerging literature on multidimensional, information age-related phenomena across different disciplines to derive common themes and topics. The authors then proceed to analyse recent developments in these fields to provide an interdisciplinary overview of the most disruptive challenges for multinational companies (MNCs) competing in the modern information age. These challenges include more efficient peer-to-peer communication between stakeholders, crowd-organisation, globalisation of value chains and the need to organise knowledge resources. The aim of the chapter is not to review all age research, but to identify fundamental uncertainties for MNCs and discuss strategies of tackling such information age phenomena from an international business perspective.

Available. Content available
Book part
Publication date: 10 December 2018

Abstract

Details

International Business in the Information and Digital Age
Type: Book
ISBN: 978-1-78756-326-1

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Abstract

Details

The History of EIBA: A Tale of the Co-evolution between International Business Issues and a Scholarly Community
Type: Book
ISBN: 978-1-83608-665-9

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Article
Publication date: 21 June 2024

Visalakshy Sasikala, Venkataraman Sankaranarayanan, Deepak Dhayanithy and Geetha Mohan

This paper aims to critically examine how dual-listed multinational enterprises (MNEs) that are embedded across multiple national contexts interact with other actors to shape the…

131

Abstract

Purpose

This paper aims to critically examine how dual-listed multinational enterprises (MNEs) that are embedded across multiple national contexts interact with other actors to shape the diversity, equality and inclusion (DEI) narrative, outcomes and the associated dynamics of social change in the mining industry.

Design/methodology/approach

The authors use data from the publicly available sustainability reports of two global mining conglomerates with dual-listing structure, Rio Tinto and Anglo American, alongside prevalent DEI regulations in the UK, Australia and South Africa to understand how DEI discourse and practice and the corresponding role of key actors have evolved since 2015. The authors combine a case study approach with topic modelling and qualitative content analysis to critically analyse the linkage between actors’ stated posture and actions in their DEI field and their impact upon various exchange relationships within the mining industry exchange field over the period 2015–2021.

Findings

The analysis revealed three broad phases of evolution in the DEI involvement of the MNEs emphasizing on diversity, equality and inclusion, respectively. Both firms progressed at a different pace across the three phases highlighting the need for a systemic perspective when addressing DEI concerns.

Originality/value

This paper is one of the earliest to adopt an issue and exchange field perspective towards examining the complexity of DEI. Taking a critical performative stance, the authors argue that for improving convergence between MNEs’ DEI rhetoric and reality and to advance DEI in new ways organizations and policymakers must devise structural interventions in the DEI field that substantively impact MNEs’ industry exchange field relationships.

Details

Critical Perspectives on International Business, vol. 21 no. 1
Type: Research Article
ISSN: 1742-2043

Keywords

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