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a b s t r a c tThis paper proposes a contextual approach to explaining differences in strategic investment decision (SID) making practices. First, a systematic contextual framework is developed from the existing research literature. Then this framework's potential for explaining differences in SID making practices is explored through 14 case studies of U.K., U.S. and Japanese companies from both stable and dynamic business sectors. Our findings suggest substantial SID differences across our four contextual categories of market creators, value creators, refocusers and restructurers. The differences relate to the emphasis on strategic versus financial considerations, the thoroughness and rigidity of financial analysis, the attitudes towards incorporating less easily quantifiable factors and the level of hurdle rates.

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0Many variables have been studied, rather inconclusively, to determine behavioural differences of family firms and any impact on performance. This article focuses on just one under-researched variable: their international strategic choices or rather 'configurations'. We compare 65 of the world's top family firms with those of a matched sample of non-family firms. 0 Results suggest that family firms' 'international 'configurations' were just as worldwide and profitable as those pursued by non-family firms. In the case of such large companies, researchers must consider this international dimension alongside other more acknowledged variables, if they are to advance understanding in this important emerging new field.