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The current developments of geopolitical rivalry, pandemic disruptions, and techno-nationalism have led to a fundamental reconfiguration of the global economic order, creating strategic imperatives for the multinational enterprises (MNEs) that go beyond the traditional internationalization theory. This paper aims to contribute to the literature with a systematic review of the adaptation process of MNEs in the time of geopolitical fragmentation and deglobalization. We used PRISMA (Preferred Reporting Items for Systematic Reviews and Meta-Analyses) methodology to screen 200 initial records from Web of Science, Scopus, ScienceDirect, and JSTOR databases, resulting in 47 peer-reviewed articles, mostly published in the last eight years (2018–2026), and a few seminal articles from the past 30 years of international business studies. The analysis of our themes indicates that there are six main strategic response clusters: (1) reconfiguration of the supply chain, including reshoring, nearshoring, and friend-shoring; (2) geopolitical risk management via real options and diversification; (3) a renewed focus on regionalization over global integration; (4) digitalization as a strategic buffer; (5) nonmarket strategies, such as political adaptation and lobbying; and (6) de-internationalization, including staged divestment. We combine these themes into an integrative conceptual framework by integrating the EDGES themes (Economic Systems, Digital Disruptions, Geopolitical Fracture, Environmental Sustainability, and Socio-Cultural Ideology) with firm-level dynamic capability responses and performance outcomes. We find certain gaps that are of critical importance: lack of micro-level empirical evidence, lack of MNE perspectives from the emerging markets, and limited integration of artificial intelligence and geopolitics. The review contributes to the international business theory and provides practical guidelines for the management of MNEs in an increasingly fragmented world economy.

This study aimed to examine the impact of the internal control system (ICS) on the performance of publicly traded Ghanaian commercial banks, within the context of the core components of the COSO integrated ICS. Accordingly, the study investigated employees' perceptions of the impact of the ICS components on financial performance-FP and non-financial performance-NFP and whether a significant relationship exists between these perceptions. In the study, the core components of the COSO’s ICS (control environment, risk assessment, control activities, information-communication, monitoring) were considered as independent variables, while FP and NFP of the banks were considered as the dependent variables. In line with the study's objective, the hypotheses were designed as follows: H1: The ICS has an impact on the FP. H2: The ICS has an impact on the NFP. Methodologically, a descriptive online survey method was used to collect data. The survey was sent to 113 managers and employees working in the internal control and audit departments of 23 listed Ghanaian banks, and 73 employees, representing 64.6%, provided voluntary feedback. Data were analyzed using SPSS-25. The survey, which was suitable for a 5-point Likert scale, included statements regarding COSO internal control components and FP and NFP. The study revealed that there were no differences in FP among the ICSs but there were differences in NFP among the ICS. The study concluded a statistically significant relationship between the ICS and FP overall. Additionally, compared to other components whose impact on FP was limited, the COSO Information-Communication component indicated the highest significant relationship with FP and the greatest positive impact, while the control activities component had an inverse effect on FP. Furthermore, the study also revealed a significant overall relationship between the ICS and NFP. In addition, compared to other components whose impact on NFP was much more limited, the COSO Information-Communication component showed the highest significant relationship with NFP and the highest positive impact on NFP. This study is considered to contribute to the literature and to investors, shareholders, policymakers, etc., by examining all factors together, such as the impact of COSO internal control components on FP and NFP, and the internal control and audit department staff at the headquarters and branches of listed Ghanaian commercial banks.

This study examines the magnitude, timing, and persistence of export gains from Turkey’s regional trade agreements (RTAs), addressing why previous studies found null effects despite extensive preferential liberalization. A structural gravity framework analyzes Turkey’s bilateral exports to over 160 partners (1996–2020) using PPML estimation with country-pair fixed effects. Dynamic RTA indicators capture anticipation and phased-in effects over twelve years, while time-varying border coefficients isolate policy effects from globalization trends. RTAs generate large, persistent export gains that accumulate gradually rather than immediately. Cumulative effects reach 815 percent over twelve years without globalization controls, or 102 percent when secular trends are absorbed, both of which are economically substantial. The absence of anticipation effects validates causal interpretation. Trade agreements function as medium- to long-term integration instruments. Policy continuity and complementary domestic reforms amplify RTA benefits. This study provides the first comprehensive dynamic assessment of Turkey’s RTA effects within a structural gravity framework, resolving puzzling null findings from earlier specifications and establishing bounds on policy-attributable export gains.

The integration of Big Data, Artificial Intelligence (AI), Machine Learning, the Internet of Things, Cloud Computing and Cybersecurity into aviation – is reshaping how airlines and Maintenance, Repair and Overhaul (MRO) organisations create value, yet evidence on the gap between digital potential and at-scale implementation remains fragmented. This study examines how Aviation 4.0 technologies affect aviation operations, with a particular focus on MRO. A qualitative, mixed-methods design combines a systematic literature review, secondary evidence from an industry MRO digital survey, five semi-structured expert interviews (sales, data science, MRO operations, R&D innovation, and technology-provider management), and two technical case studies (neural networks for aircraft retirement and an AI-based digital twin for a Power Electronics Cooling System). Findings reveal that predictive maintenance is the dominant digital priority (prioritised by 56% of respondents), yet only 6% of MROs have scaled digital and analytics across the enterprise; over 80% cite data limitations and more than 70% cite organisational resistance as barriers. Field implementations in a focal MRO produced substantial measurable value, including $4.2M annual savings from an in-house planning platform and $6M additional revenue from an integrated quote-to-contract system. The study triangulates concept, practice and market evidence in a single crosswalk, clarifying where the Aviation 4.0 promise has materialised and where the principal barriers persist. Practically, this study provides MRO executives and policymakers with an evidence-based roadmap mapping conceptual potentials to realised implementations.

Arising carbon emissions and accelerating industrialization have intensified concerns regarding sustainable development in emerging markets. This study examines whether innovation functions as a direct mechanism for decarbonization and whether innovation-driven environmental dynamics follow the Environmental Kuznets Curve (EKC) framework. Using panel data from emerging market economies over the period 2000–2020, the study applies fixed-effects estimation techniques to investigate both the linear and nonlinear effects of innovation on CO₂ emissions. Innovation is measured through research and development (R&D) expenditure, while industrialization, urbanization, trade openness, financial development, and ICT indicators are incorporated as control variables. The findings demonstrate that innovation significantly reduces CO₂ emissions, suggesting that technological advancement supports environmental sustainability through cleaner production systems and efficiency-enhancing mechanisms. However, the analysis does not support the existence of an innovation-driven EKC, as the nonlinear innovation term remains statistically insignificant. The study contributes to environmental sustainability literature by extending the EKC framework beyond conventional income-centered explanations and positioning innovation as a direct decarbonization mechanism in emerging economies. The findings further provide practical implications for policymakers seeking to accelerate low-carbon transitions through innovation-oriented industrial and technological policies.

The airline industry faces persistent profitability pressure stemming from high fixed costs, intense competition, and macroeconomic volatility. Since the entry of low-cost carriers (LCCs), ancillary revenue—defined as income generated from services and products supplementary to the core ticket—has evolved from a peripheral activity into a strategic financial pillar for both full-service and low-cost airlines. This study investigates the determinants of passenger willingness to pay (WTP) for à la carte ancillary services and identifies behavioural and demographic profiles that predict purchase frequency. Using a survey of 254 air travellers and a multi-method statistical approach (Chi-square tests, Mann–Whitney U tests, and Kruskal–Wallis with Bonferroni-corrected pairwise comparisons), six hypotheses are tested. The results demonstrate that (i) passengers familiar with à la carte services allocate significantly larger travel budgets to such services (p < .05); (ii) frequent travellers (>5 flights/year) are significantly more likely to purchase à la carte services (χ² = 8.44, p < .01); (iii) frequent-flyer programme (FFP) members purchase ancillary services at substantially higher rates (χ² = 9.70, p < .01); and (iv) contrary to common managerial intuition, short-haul passengers purchase à la carte services more frequently than long-haul passengers (χ² = 4.51, p < .05). Wi-Fi access is valued across all age cohorts without statistically significant differences. The findings extend the revenue management literature by empirically validating familiarity and loyalty-programme membership as the strongest behavioural predictors of à la carte WTP, and offer actionable guidance for targeted personalisation, segmentation, and dynamic pricing strategies. Implications for machine-learning-driven ancillary recommendation systems are also discussed in light of recent advances in offer management (2022–2025).

This study mainly aimed to examine the impact of university students' purchasing tendency from e-commerce sites and demographic characteristics on student satisfaction through the example of a leading foundation research university in Türkiye. In the study, it was investigated whether there was a significant difference between students' purchasing tendencies from e-commerce sites and student satisfaction. It was also investigated whether there was a significant difference between demographic characteristics and student satisfaction. Methodologically, a descriptive online survey method including a questionnaire was applied to collect data. The survey was responded by 240 randomly selected students. The data were analyzed with SPSS-26. The study concluded that there was no significant difference between the average daily time spent on the internet and the type of device used to connect to e-commerce sites, which are among the criteria reflecting the tendency to purchase from e-commerce sites, and student satisfaction whereas there was a significant difference between the number of products purchased through e-commerce sites and student satisfaction. Furthermore, it was revealed that there was no significant difference between demographic characteristics such as gender, marital status, education and monthly income and student satisfaction, whereas there was a significant difference between age and student satisfaction. Accordingly, it was indicated that the difference in terms of age was especially in favor of students in the 22-25 age group. It is thought that the study will contribute to the literature by examining the impact of university students' purchasing tendency from e-commerce sites and demographic characteristics on student satisfaction, together with the example of a leading foundation research university. The study is limited by the selected sample foundation research university, the number of students responded, survey questions-answers, the applied statistical analysis methods and tests. Therefore, in order to reach more general results, it is suggested to expand the studies with more diverse and larger numbers of foundation research universities, students, survey questions and statistical methods.

This study mainly aimed to examine the impact of the COSO’s internal control system components (Control Environment, Risk Assessment, Control Activities, Information-Communication, Monitoring) on corporate governance principles (justice, transparency, accountability and responsibility) through the example of a leading educational foundation in Türkiye. In the study, it was investigated whether there was a significant relationship between the perceptions of employees regarding the effects of the internal control system components on corporate governance. It was also investigated whether these perceptions differed according to demographic characteristics such as gender, age, education, length of service, position. Methodologically, a descriptive online survey method including a questionnaire was applied to collect data. The survey was sent to 234 participants in different departments and positions working in the foundation, and 197 employees responded. The data were analyzed with SPSS-22. The survey, which was suitable for a 5-point Likert scale, included statements regarding demographic characteristics and COSO’s main internal control components and corporate governance principles. The study concluded that all COSO components have a significant and positive relationship with corporate governance principles. In addition, a stronger relationship was revealed between transparency and accountability principles and internal control components compared to others. Furthermore, it was indicated that these perceptions differed according to demographic characteristics. While significant differences were found in perceptions according to demographic characteristics such as gender, age and position, no differences were found according to education and working years criteria. The study is considered to contribute to the literature because it is the first study to examine the impact of the main COSO internal control components on corporate governance principles, together with the example of a leading educational foundation. The study is limited by the selected sample educational foundation, the number of respondents, survey questions-answers, the applied statistical analysis method and tests. Therefore, in order to reach more general results, it is suggested to expand the studies with more diverse and larger numbers of educational foundations, employees, survey questions and statistical methods.

The study examines concerns regarding Islamic finance legislation in Ethiopia. Using a qualitative method, the study investigated the current legal and regulatory frameworks regarding Islamic finance and the challenges facing Islamic financial institutions in the country. In the study we conducted semi-structured interviews with 23 respondents, including executives, boards of directors, regulators, managers, shariah board members, and legal scholars familiar with the country's laws. The study's findings indicate an urgent necessity for an inclusive and robust legal structure specifically designed for the unique characteristics of Islamic financing. Enhanced supervisory oversight is essential for ensuring adherence to Sharia principles. Furthermore, the research findings demonstrate how important it is to set up a separate supervisory body within the National Bank of Ethiopia to keep an eye on Islamic financial institutions. Lastly, the study highlights the significance of having qualified professionals and Sharia scholars in Islamic financing. Integrating Islamic finance education into universities can enhance capacity-building for regulators, scholars, and finance professionals.

The findings underscore the significance of institutional stability and macro-financial predictability in maintaining export performance in volatile emerging economies. Enhancing regulatory quality, bolstering macro-financial stability, and augmenting enterprises' capacity to manage risk will facilitate more robust export results. Incorporating institutional and financial frictions directly into gravity models offers a more accurate framework for policy assessment. This research employs a structural gravity model, estimated using Poisson pseudo maximum likelihood, to analyse Turkey's bilateral export flows to 164 partner nations from 1996 to 2020. Political stability and exchange rate volatility are integrated as time-varying institutional and financial frictions. Indices of economic scale, geographical distance, and remoteness are incorporated to maintain alignment with structural gravity theory. The political stability of destination nations is a crucial positive factor influencing Turkish exports and signifies the existence of a governance premium. Exchange rate fluctuation exerts a sustained adverse impact, diminishing the anticipated advantages of nominal depreciation. Visual data indicates two consistent behavioural tendencies. Exporters are increasingly venturing into politically risky countries; yet, long-term export growth is constrained by institutional inertia and robust network dependencies. The findings indicate that institutional reliability and macro-financial predictability are crucial for maintaining export performance in volatile emerging economies. Enhanced regulatory quality, greater macro-financial stability, and superior firm-level risk management are essential for achieving more resilient export outcomes. Incorporating institutional and financial frictions directly into gravity models offers a more accurate framework for comprehending trade dynamics and formulating effective policies.

This study mainly aimed to examine the impact of the effectiveness of the internal control system on store performance through the example of D&R Store in the retail media sector in Türkiye.  In the study, it was investigated whether the effectiveness of the internal control system has a significant and positive effect on the perception of store performance through the COSO internal control components. It was also investigated whether these perceptions differed according to demographic characteristics. Methodologically, a descriptive online survey method including a questionnaire prepared in accordance with the 5-point Likert scale was used to collect data. 302 employees responded to the survey included statements regarding demographic characteristics and COSO’s main internal control components. The data were analyzed with SPSS-22. The study concluded that all COSO internal control components (control environment, risk assessment, control activities, information-communication, monitoring) have a positive and significant effect on store’s performance perception. Furthermore, the study revealed that these perceptions differed according to demographic characteristics. While statistically significant differences in perceptions were found according to demographic characteristics such as gender, job position, and years of professional experience, no significant differences were found based on demographic criteria such as age and educational level. The study is considered to contribute to the literature because it is the first study to investigate the impact of the effectiveness of the COSO internal control system components on store performance together with the example of D&R Store in the retail media sector. The study is limited by the selected sample store, number of participants, survey questions-answers, the applied statistical analysis methods and tests. Therefore, in order to reach more general results, it is suggested to expand the studies with more diverse and larger numbers of stores in the retail media sector, employees, survey questions and statistical methods.