Discussion and Conclusion

Market shaping MNCs in emerging markets - stakeholder engagement and the role of embeddedness

“…They can have a profound influence on the market-shaping process, especially in emerging markets, by offering intangible resources (e.g., trust and legitimacy) that support the firm's embedding within a local market by changing structural links that, for instance, can reduce the MNC's liability of foreignness (Hadjikhani et al, 2019). Thus, we contribute to the market shaping literature with insights from the field of international business studies (Elahi & Ghauri, 2020;Elg et al, 2012;Ghauri et al, 2008;Sinha & Sheth, 2018) and support the findings of Alinaghian et al (2020) on the enabling and facilitating role of social aspects (trust and benefit/risk sharing) for the firm's market-shaping capabilities.…”

“…Furthermore, the rapid economic development of these markets makes them highly malleable, thus increasing the potential for organizations to steer developments to their own advantage. (Elahi & Ghauri, 2020;Sinha & Sheth, 2018).…”

“…However, these market-shaping actions do not happen in a vacuum, they are performed in a specific context of local stakeholders' roles and actions (Flaig & Ottosson, 2022). Both stakeholder relational and structural embeddedness are vital for the market shaping of MNCs in emerging markets, allowing them to reach a broader and heterogeneous group of stakeholders as is vital in this market environment (Elahi & Ghauri, 2020;Elg et al, 2012). This includes those who might be unaware of or uninterested in the MNC's offerings and market-shaping vision.…”

“…Especially in emerging markets, MNCs are confronted with heterogeneous environments characterized by high uncertainty, fluidity, and a comparatively high involvement of social and political actors (Elahi & Ghauri, 2020;Sinha & Sheth, 2018). The challenge of local stakeholder engagement for an MNC is comparatively more pronounced as many actors might be unaware of or even unwilling to collaborate .…”

Not gone away: how domestic terrorism impacts multinationals in foreign markets

“…Terrorism constitutes a key risk to market entry, operations and overall performance of international firms (e.g. Enderwick, 2001;Suder, 2004;Akbar, 2004;Czinkota et al, 2005Czinkota et al, , 2010Li et al, 2005;Steen et al, 2006;Jain and Grosse, 2009;Elahi and Ghauri, 2020;Dimitrova et al, 2022;Abrahms et al, 2023). al-Qaeda's transnational terrorist attacks on 9/11 and subsequent pattern of al-Qaeda's attacks in various locations across the world strongly underpinned, in part, the early post 9/11 development of international business (IB)terrorism research.…”