The novel coronavirus has created one of the biggest social and economic challenges in recent decades. Since a critical issue in overcoming a large‐scale pandemic involves finding effective treatments for the disease, there is typically urgent pressure on the health‐care sector to develop innovations to combat the pandemic. Recently, scholars have argued that repurposing – that is, reusing an existing innovation in a different context – allows for such rapid innovation responses and can reduce costs, as the groundwork has already been laid. In this paper, we compare these benefits with the considerable disadvantages associated with innovation repurposing, including lowered barriers to entry, which can lead to declining average quality and duplicate work. Using data on 2,456 COVID‐19‐related clinical trials initiated between December 2019 and July 2020, we find that merely one‐third of the trials actually investigated drugs or vaccines, whereas the rest focused on diagnostics and crisis management issues. In the trials concerning drug testing, we find that drug repurposing is a predominant innovation strategy, but many trials tested the same (combination of) drugs. This indicates an inefficient use of resources and reductions in the average variety and novelty of clinical trials. Furthermore, the small percentage of biopharmaceutical firms involved in the search for COVID‐19 treatments raises the question of whether firms may have insufficient incentives to redirect innovation efforts to respond to the pandemic. Our paper contributes to crisis management research, the nascent debate on COVID‐19, and the emerging literature on innovation repurposing.

Countless enterprise blockchains fail to live up to high expectations, often because the supporting governance structures are insufficiently established or have become stagnant. Based on interviews with 153 blockchain executives and an analysis of publicly documented use cases, this article offers a guide for blockchain scholars and practitioners. Its framework highlights the coordination and control challenges that exist in blockchain governance contexts and presents four generic governance modes to address them: chief, clan, custodian, and consortium. Managers can use these governance modes as a basis for four strategic moves (connecting, isolating, loosening, and tightening) to navigate blockchain governance challenges.

Despite the importance of distance in international business and management research, the theoretical foundation for the concept and the underlying causal mechanisms are subject to shortcomings. We propose reinvigorating the study of distance through a diversity lens. We draw on research on diversity and develop a theoretical framework that distinguishes types of diversity (separation, variety, and disparity) at three levels (institutional, organizational, and individual). We show how this framework allows scholars to extend their analysis of distance, revisit important questions, and explore new issues. We discuss the theoretical and empirical implications of our diversity lens for the international business and management community.

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