دانلود رایگان مقاله جهانی سازی بازا سرمایه پیامد برای استراتژی شرکت

ABSTRACT

The integration of international capital markets makes it easier for firms to access capital outside of their home countries. To date international business (IB) scholars have developed a rich tradition of research on how globalization of product markets may affect a firm's organizational form and business strategy. Unfortunately, there is a paucity of studies that explore the challenges firms face in capital markets beyond their domestic boundaries, be it equity, debt, or venture capital markets. The objective of this Special Issue is to address these theoretical and empirical gaps in prior IB studies. This paper outlines the main differences between product and capital markets, and explores theoretical and empirical challenges these differences present for international management scholars. We also provide a brief summary of papers in the Special Issue and outline promising avenues for future research.

6. Conclusions

In this article, we have summarized the findings of the papers presented in this Special Issue and outlined an agenda for further research on the globalization of capital markets and its implications for theory building and empirical research in a number of areas of IB research. The articles contained in this Special Issue contribute to addressing some of these challenges but many other challenges remain. The analysis in this paper has identified a number of research questions and issues we believe are important because currently we do not have theoretically and empirically adequate answers to address them. While there have been important global developments in capital markets and finance, systematic research on the strategy and governance aspects of the international dimensions of factor markets remains under-developed. We have identified a number of important themes that will both help our understanding and also provide an evidence base for policy-makers and regulators at both national and international levels. In conclusion, for the same reason that internationalization strategy practice pushes the frontier in strategic thinking, an integration between finance and IB research, both as an opportunity and as a necessity, is challenging conventional wisdom inademic thinking and theories. We are confident that a new generation of scholarship pursuing some of the future research questions outlined in this Special Issue will widen the trail blazed by the papers included here.