A systematic review of the relationship between international diversification and innovation: A firm-level perspective |
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| Institution: | 1. Henley Business School, University of Reading, Whiteknights, Reading, RG6 6UD, United Kingdom;2. Warwick Business School, University of Warwick, Scarman Road, CV4 7AL, United Kingdom;1. National Research Base of Intelligent Manufacturing Service, Chongqing Technology & Business University, Chongqing 400067, China;2. Haub School of Business, Saint Joseph’s University, Philadelphia, PA 19131, USA;1. School of Economics, Business Administration and Accounting in Ribeirão Preto (FEA-RP), University of São Paulo (USP), Brazil;2. Department of Accounting, School of Economics, Business Administration and Accounting in Ribeirão Preto (FEA-RP), University of São Paulo (USP), Av. dos Bandeirantes, 3900, FEA-RP, ZIP, 14040-905 Ribeirão Preto, São Paulo, Brazil;1. Hochschule für Technik und Wirtschaft Berlin, Department of Business and Law, Treskowallee 8, 10318 Berlin, Germany;2. Royal Holloway, University of London, School of Business and Management, Egham, Surrey, TW20 0EX, UK;3. Bangor University, Bangor Business School, Bangor, Gwynedd LL57 2DG, UK;1. University of Exeter, UK;2. Research Institute of Industrial Economics, Sweden;3. City University of Hong Kong, China;4. University of Leeds, UK;1. Department of Management, Monash Business School, Monash University, Caulfield Campus, Caulfield East, Victoria 3145, Australia;2. Professor of International Business, The Business School, University of South Australia, North Terrace, Adelaide 5001, South Australia, Australia;3. Université Paris-Saclay, UVSQ, Larequoi, 78000 Versailles, France;4. Department of Economics and Management, University of Florence, Via delle Pandette, 9, 50127 Firenze, Italy;1. The Open University Business School, Walton Hall, Milton Keynes, MK7 6AA, United Kingdom;2. Cork University Business School, University College Cork, College Road, Cork, T12 K8AF, Ireland;3. Surrey Business School, University of Surrey, Guildford, Surrey, GU2 7XH, United Kingdom |
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| Abstract: | We conduct a systematic review of the relationship between international diversification (ID) and firm-level innovation (I), considering articles published between 1989 and 2020. The relationship between international diversification and innovation strategies is dynamic and complex, and recent evidence challenges the traditional notion that upgrading firm-specific advantages through technological innovation can be sufficient to guarantee international firm growth and performance. We develop a unified framework that integrates findings from extant ID-I research while also proposing new avenues for further research on topics such as: how firms deal with potentially conflicting ID-I goals, how underlying firm motives shape the interactions between these goals, and how new technologies and institutional dynamism increasingly influence the ID-I relationship. We also discuss how and why the new contexts in which decisions are made, together with the prevalence of relatively newer types of firms (e.g., those associated with global value chains, latest wave of emerging market multinationals, digitalized service MNEs), require a more modern conceptualization of the ID-I relationship. |
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| Keywords: | International diversification (ID) Innovation (I) Multinational enterprises (MNEs) ID-I performance Dynamic MNE decisions Systematic review |
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