Concerns over food safety in China not only direct public attention to negative incidents, but also trigger the government's scrutiny of implicated firms, particularly MNCs. The question of how to repair legitimacy after media coverage of negative incidents has become a critical issue for MNCs. Although the factors for MNCs’ public crises have been identified, how local contexts and mechanisms shape repair approaches remain unclear. To address this research gap, we conducted a study of Walmart China's approaches associated with two negative incidents across two regions. We found that the negative incidents can be framed differently depending on the local environment's unfavorability for MNCs. Specifically, the negative framing gave rise to varying degrees of legitimacy loss and offered different leeway for MNCs to repair their legitimacy. We also identified the varied outcomes of different repair approaches. By revealing the linkages among local context, framing, legitimacy repair, and its outcomes, our study contributes to research on MNCs’ legitimacy management under institutional complexity and underscores the China context for legitimacy maintenance. We also offer insights that advance the institutional approach to legitimacy repair in this context. Last, we reflect on the techniques for conducting qualitative research in China.

This study addresses the question of how interplays of stigmatized categories might trigger public disapproval and stigma response strategies. We develop two categories: possession of network ties with home‐country governments and market entry into salient industries in target nations. Based on a comparative study of four Chinese firms’ acquisitions in the United States and Australia, we show that (1) firms face different levels of disapproval amid differing interplays of the stigmatized categories and that (2) each firm adopts a distinctive response strategy. Our study contributes to the organizational stigma literature by theorizing about the relationships of categories’ interplays, disapproval levels, and stigma responses. It also adds to the embeddedness perspective by providing an argument for the socio‐political liabilities of strong ties, and it contributes to international business studies on exploring a theme of geopolitics and stigmatization of firms. Finally, it offers research directions relating to these fields of inquiry.

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With the continuous deepening of China's reform and opening up process and the continuous advancement of market economic system, China's financial market and capital market have both obtained good development opportunities. Meanwhile the development of economic globalization has facilitated financial reform and development across the world. Internet technology has developed rapidly and has penetrated into all economic sectors in China. Although China's Internet finance has caught up with the trend of the new era and has made a series of achievements, it also encounters many problems during its development. There still exist gaps between China's financial market and that of developed countries, especially in terms of government's comprehensive governance of Internet finance and the government's supervision of the market. This paper will discuss the new agenda of market financial supervision reform in the "Internet +" era, and then propose some suggestions for government's comprehensive governance of financial market in the Internet era.

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