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Belt and Road Initiative, globalization and institutional changes: implications for firms in Asia

Author

Listed:
  • Jiatao Li

    (Hong Kong University of Science and Technology)

  • Gongming Qian

    (Southern University of Science and Technology)

  • Kevin Zheng Zhou

    (University of Hong Kong)

  • Jane Lu

    (City University of Hong Kong)

  • Bin Liu

    (Xiamen University)

Abstract

Research on Belt and Road Initiative (BRI) is rising but far from complete. This special issue (SI) aims to enhance our understanding of how firms in Asia and beyond strategically respond to the BRI and what new theories and investigations are needed to better elucidate this new environment. In this editorial, we present a brief description of BRI, a review of related studies in the international business (IB) domain, a summary of the articles included in the SI and their contributions to the study of BRI, and an agenda for future research. We suggest that more attention should be given to examination of organizational heterogeneity under the BRI theme. In particular, there exists a variety of players like the governments of the host countries, non-government institutions, firms with different ownership structures, managers with different backgrounds, and their idiosyncratic characteristics should be incorporated in BRI studies. Moreover, future studies should find fine-grained ways to theorize and operationalize the policy effects of BRI. We call for further investigation of the consequences of BRI, including but not limiting to different aspects of IB activities, innovation, entrepreneurship, and corporate social responsibility.

Suggested Citation

  • Jiatao Li & Gongming Qian & Kevin Zheng Zhou & Jane Lu & Bin Liu, 2022. "Belt and Road Initiative, globalization and institutional changes: implications for firms in Asia," Asia Pacific Journal of Management, Springer, vol. 39(3), pages 843-856, September.
    • Handle: RePEc:kap:asiapa:v:39:y:2022:i:3:d:10.1007_s10490-021-09770-0
    DOI: 10.1007/s10490-021-09770-0
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    References listed on IDEAS

    as
    1. Jiatao Li & J. Richard Harrison, 2008. "National Culture and the Composition and Leadership Structure of Boards of Directors," Corporate Governance: An International Review, Wiley Blackwell, vol. 16(5), pages 375-385, September.
    2. Du, Julan & Zhang, Yifei, 2018. "Does One Belt One Road initiative promote Chinese overseas direct investment?," China Economic Review, Elsevier, vol. 47(C), pages 189-205.
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    4. Jiatao Li & Deborah R. Yue, 2008. "Market Size, Legal Institutions, and International Diversification Strategies: Implications for the Performance of Multinational Firms," Management International Review, Springer, vol. 48(6), pages 667-688, December.
    5. Shameen Prashantham & Mariya Eranova & Carole Couper, 2018. "Globalization, entrepreneurship and paradox thinking," Asia Pacific Journal of Management, Springer, vol. 35(1), pages 1-9, March.
    6. Sarianna M. Lundan & Jiatao Li, 2019. "Adjusting to and learning from institutional diversity: Toward a capability-building perspective," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 50(1), pages 36-47, February.
    7. Yan, Zheng Joseph & Zhu, Jiuhua Cherrie & Fan, Di & Kalfadellis, Paul, 2018. "An institutional work view toward the internationalization of emerging market firms," Journal of World Business, Elsevier, vol. 53(5), pages 682-694.
    8. Li Tian & Jing Yu Yang & Jiatao Li, 2021. "Does legal registration help or hurt? The effect of government corruption on resource acquisition by nascent ventures in an emerging economy," Asia Pacific Journal of Management, Springer, vol. 38(2), pages 547-572, June.
    9. Michael Young & Terence Tsai & Xinran Wang & Shubo Liu & David Ahlstrom, 2014. "Strategy in emerging economies and the theory of the firm," Asia Pacific Journal of Management, Springer, vol. 31(2), pages 331-354, June.
    10. Jane Wenzhen Lu & Wen Li & Aiqi Wu & Xueli Huang, 2018. "Political hazards and entry modes of Chinese investments in Africa," Asia Pacific Journal of Management, Springer, vol. 35(1), pages 39-61, March.
    11. Bin Liu & Qingtao Wang, 2020. "Can certification help incumbent firms?," Asia Pacific Journal of Management, Springer, vol. 37(4), pages 1061-1083, December.
    12. Li, Jiatao & Liu, Bin & Qian, Gongming, 2019. "The belt and road initiative, cultural friction and ethnicity: Their effects on the export performance of SMEs in China," Journal of World Business, Elsevier, vol. 54(4), pages 350-359.
    13. Mike W. Peng & Sergey Lebedev & Cristina O. Vlas & Joyce C. Wang & Jason S. Shay, 2018. "The growth of the firm in (and out of) emerging economies," Asia Pacific Journal of Management, Springer, vol. 35(4), pages 829-857, December.
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