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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 empirical paper examines how institutional strengths or weaknesses of emerging markets might affect investment inflows into these countries. The study includes data of 13 emerging economies from different regions. The countries included are Argentina, Brazil, Chile, China, Indonesia, India, South Korea, Mexico, Malaysia, Nigeria, Poland, Russia, and Turkey for the time period 2000-2018. The institutional variables; property rights, good governance, corruption, rule of law, and civil liberties are examined to understand if there is a deviation from the existing literature for the emerging countries. Secondly, we also investigated differences among the emerging countries and asked if non-BRIC countries are different in results. A panel data model has been performed for the analysis. Our findings prove that some institutions such as corruption, civil liberties, property rights, and good governance are significantly important to attract FDI into the emerging markets, as indicated in the literature for the developed countries, but not as strong as assumed. Secondly, other institutional constructs such as rule of law and political stability found to be insignificant in emerging markets. Finally, we found a similar result even when we analyzed emerging markets without BRIC countries.

Multinational companies (MNCs) show an apparent tendency toward research and development (R&D) for the last three decades. Many kinds of research have recently focused on R&D in emerging countries (ECs) to reveal the differences from R&D in developed countries. This paper presents a literature review consisting of 23 articles from 2004-2019 on R&D in emerging markets. By conducting content analysis, it has been analyzed their prominent concepts and results. According to the research focus, the articles examined have been classified into five main groups – internationalization of R&D, R&D activities, R&D investments, technology-based R&D, R&D offshoring – along with articles that cannot be grouped. The main purpose of this study is to determine the current tendency of R&D in emerging markets. Thus, it provides to understand in which position R&D has in emerging markets, and under which circumstances it is successful. Furthermore, practitioners can benefit from the results of the presented study. The systematic evaluation of the findings contributes to the formation of a general view for future research.

<p>The opportunities of investment brought along by the global economic integrity might turn into a threat in an instant and undermine the underlying structures of national economies. It is necessary to analyze the conflict risk properly in terms of both portfolio investment and finance strategies. This is an important step to be included in the process of arriving to a rational decision. In that way, the existing investment risks could be priced more efficiently. It is proved on Collier and Starr models that there is a correlation between the conflict risk and unemployment, economic recession, inflation and fiscal discipline. In brief, the breakdown in the economic parameters increases the conflict risk and a progress occurring in the opposite way, decreases that risk. In this study, it is discussed the effects of the conflict risk for foreign investment availabilities.</p>