Skip to main content
Disciplines
Automotive Business IT + Informatics Construction + Real Estate Electrical Engineering + Electronics Energy + Sustainability Insurance + Risk Finance + Banking Management + Leadership Marketing + Sales Mechanical Engineering + Materials
Events
DE
EN
Books
Journals
Topic Page
Marketing
Start single access now
Access for companies
EXTENDED SEARCH
Log in
Top
Asia Pacific Journal of Management
Published in: Asia Pacific Journal of Management 3/2020

06-06-2019

Risk-taking in entrepreneurial decision-making: A dynamic model of venture decision

Authors: Yan Li, David Ahlstrom

Published in: Asia Pacific Journal of Management | Issue 3/2020

Log in

Activate our intelligent search to find suitable subject content or patents.

search-config
loading …

Abstract

On the basis of the seminal work of Kahneman and Tversky Econometrica, 47(2): 263–292 (1979), this research extends the boundaries of prospect theory in investigating determinants and temporal variation of risk-taking in entrepreneurial decisions, such as creating a new business organization or investing a risky business project. The two experimental studies (1) identify entrepreneurial risk-taking in the gain situation and find reversal of risk preference after a dynamic entrepreneurial learning process, indicating that the framing effect of prospect theory in explaining entrepreneurial risk-taking is conditional; (2) instead of weights, subjective judgment of the possibility of success of a risky project (subjective probability) consistently plays central moderating role in entrepreneurial decisions under uncertainty, and (3) the different effects of subjective probability in the two studies reveal that novice decision-makers are more value-driven, whereas experienced decision-makers, particularly under low probability conditions, tend to be more risk averse regardless of the value of a risky project perceived as long as they have a lack of confidence in eventual success.
previous article Indigenization of staffing in MNEs: The case of Saudi Arabia
next article Evaluating the performance of employee assistance programs (EAP): a checklist developed from a large sample of public agencies

Dont have a licence yet? Then find out more about our products and how to get one now:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

  • über 102.000 Bücher
  • über 537 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Maschinenbau + Werkstoffe
  • Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

inform now

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 340 Zeitschriften

aus folgenden Fachgebieten:

  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Versicherung + Risiko




Jetzt Wissensvorsprung sichern!

inform now
Appendix
Available only for authorised users
Literature
Ács, Z. J., Audretsch, D. B., & Strom, R. J. (Eds.) 2009. Entrepreneurship, growth, and public policy. Cambridge:Cambridge University Press.
Agenor, P.-R. 2017. Caught in the middle? The economics of middle-income traps. Journal of Economic Surveys, 31(3): 771–791.
Ahlstrom, D. 2010. Innovation and growth: How business contributes to society. Academy of Management Perspectives, 24(3): 10–23.
Ahlstrom, D. 2014. The hidden reason why the first world war matters today: The development and spread of modern management. Brown Journal of World Affairs, 21(1): 201–218.
Ahlstrom, D., & Ding, Z. 2014. Entrepreneurship in China: An overview. International Small Business Journal, 32(6): 610–618.
Ahlstrom, D., Lamond, D., & Ding, Z. 2009. Reexamining some management lessons from military history. Asia Pacific Journal of Management, 26(4): 617–642.
Ahlstrom, D., & Wang, L. C. 2009. Groupthink and France's defeat in the 1940 campaign. Journal of Management History, 15(2): 159–177.
Allais, M. 1953. Le comportement de l’homme rationnel devant le risque; critique des postulats et axiomes de l’ecole Americaine’ (the rational man behavior under risk: Criticism of postulates and axioms of the American school). Econometrica, 21(4): 503–546.
Amit, R., Muller, E., & Cockburn, I. 1995. Opportunity costs and entrepreneurial activity. Journal of Business Venturing, 10(2): 95–106.
Arnold, H. J., & Feldman, D. C. 1981. Social desirability response bias in self-report choice situation. Academy management journal, 24: 377–385.
Baron, R., & Ensley, M. D. 2006. Opportunity recognition as the detection of meaningful patterns: Evidence from comparisons of novice and experienced entrepreneurs. Management Science, 52(9): 1331–1344.
Baron, R. A. 1999. Counterfactual thinking and venture formation: The potential effects of thinking about “what might have been”. Journal of Business Venturing, 15: 79–91.
Baron, R. A. 2008. The role of affect in the entrepreneurial process. Academy of Management Review, 33(2): 328–340.
Barron, F. H. (1981). Validation and error in multiplicative utility functions: Univ. of Kansas.
Bechara, A. 2004. The role of emotion in decision-making. Brain and Cognition, 55(1): 30–40.
Bell, D. 1982. Regret in decision making under uncertainty. Operations Research, 30(5): 961–981.
Birtch, T. A., Au, k. Y.-f., Chiang, F. F. T., & Hofman, P. S. 2018. How perceived risk and return interacts with familism to influence individuals’ investment strategies: The case of capital seeking and capital providing behavior in new venture financing. Asia Pacific Journal of Management, 35(2): 471–500.
Bordley, R., & LiCalzi, M. 2000. Decision analysis using targets instead of utility functions. Decisions in Economics and Finance, 23(1): 53–74.
Bowman, E. H. 1980. A risk/return paradox for strategic management. Sloan Management Review, 21: 17–31.
Bradley, S. W., Wiklund, J., & Shepherd, D. A. 2011. Swinging a double-edged sword: The effect of slack on entrepreneurial management and growth. Journal of Business Venturing, 26(5): 537–554.
Brockhaus, R. H. 1980. Risk-taking propensity of entrepreneurs. Academy of Management Journal, 23: 509–520.
Bruton, G. D., Ahlstrom, D., & Si, S. 2015. Entrepreneurship, poverty, and Asia: Moving beyond subsistence entrepreneurship. Asia Pacific Journal of Management, 32(1): 1–22.
Burmeister, K., & Schade, C. 2007. Are entrepreneurs' decisions more biased? An experimental investigation of the susceptibility to status quo bias. Journal of Business Venturing, 22(3): 340–362.
Busemeyer, J. R., & Townsend, J. T. 1993. Decision field theory: A dynamic-cognitive approach to decision-making in an uncertain environment. Psychological Review, 100(3): 432–459.
Busenitz, L. W. 1996. Research on entrepreneurial alertness. Journal of Small Business Management, 34: 35–44.
Camerer, C. F., & Weber, M. 1992. Recent developments in modeling preferences: Uncertainty and ambiguity. Journal of Risk and Uncertainty, 5(4): 325–370.
Chattopadhyay, P., Glick, W. H., & Huber, G. P. 2001. Organizational actions in response to threats and opportunities. Academy Management Journal, 44: 937–955.
Christensen, C. M., & Raynor, M. E. 2013. The Innovator's solution: Creating and sustaining successful growth. Boston:Harvard Business Review Press.
Choi, Y., & Shepherd, D. 2004. Entrepreneurs’ Decisions to Exploit Opportunities. Journal of management, 30(3): 377–395.
Cohen, J., Cohen, P., West, S. G., & Aiken, L. S. 2003. Applied Multiple Regression/Correlation Analysis for the Behavioral Sciences. NJ:Lawrence Erlbaum Associates.
Cropanzano, R., Weiss, H., Hale, J., & Reb, J. 2003. The structure of affect: Reconsidering the relationship between negative and positive affectivity. Journal of Management, 29(6): 831–857.
Currim, I. S., & Sarin, R. K. 1984. A comparative evaluation of multiattribute consumer preference models. Management Science, 30(5): 543–561.
Damasio, A. R. (1994). Descartes’ Error: Emotion, Reason, and the Human Brain. New York a Grosset / Putnam.
Deci, E. L. 1975. Intrinsic motivation. NY:Plenum Press.
Delmar, F., & Shane, S. 2004. Legitimating first: Organizing activities and the survival of new ventures. Journal of Business Venturing, 19(3): 385–410.
Denrell, J., & March, J. G. 2001. Adaptation as information restriction: The hot stove effect. Organization science, 12(5): 523–538.
DeRue, D. S., Nahrgang, J. D., Hollenbeck, J. R., & Workman, K. 2012. A quasi-experimental study of after-event reviews and leadership development. Journal of Applied Psychology, 97(5): 997–1015.
Dolan, R. J. 2002. Emotion, cognition, and behavior. Science, 298(5596): 1191–1194.
Douglas, M., & Wildavasky, A. 1982. Risk and Culture. Berkeley, CA:University of California Press.
Dunbar, R. L. M., & Ahlstrom, D. 1995. Seeking the institutional balance of power: Avoiding the power of a balanced view. Academy of Management Review, 20(1): 171–192.
Dutton, J. E., & Jackson, S. E. 1987. Categorizing strategic issues: Links to organizational action. Academy of Management Review, 12(1): 76–90.
Egan, J. P. 1975. Signal detection theory and ROC analysis. NY:Academic press.
Ellsberg, D. 1961. Risk, ambiguity, and the savage axioms. Quartely journal of economics, 75(4): 643–699.
Erev, I., & Barron, G. 2005. On adaptation, maximization, and reinforcement learning among cognitive strategies. Psychological review, 112(4): 912–931.
Estes, W. K. 1950. Toward a statistical theory of learning. Psychological Review, 57(2): 94–107.
Fiegenbaum, A., Hart, S., & Schendel, D. 1996. Strategic reference point theory. Strategic Management Journal, 17(3): 219–235.
Fiegenbaum, A., & Thomas, H. 1988. Attitudes toward risk and the risk-return paradox: Prospect theory explanation. Academy Management Journal, 31: 85–106.
Fox, C. R., & Tversky, A. 1995. Ambiguity aversion and comparative ignorance. Quarterly Journal of Economics, 110(3): 585–603.
Fredrickson, J. W. 1984. The comprehensiveness of strategic decision processes: Extension, observations, future directions. Academy of Management Journal, 27: 445–466.
Gartner, W. B. 1988. “Who is an entrepreneur?” is a wrong question. American Journal of Small Business, 12(4): 11–32.
Gibb, A. 2002. In pursuit of a new ‘enterprise’ and ‘entrepreneurship’ paradigm for learning: Creative destruction, new values, new ways of doing things and new combinations of knowledge. International Journal of Management Reviews, 4(3): 233–269.
Gifford, S. 2003. Risk and uncertainty. In Z. Acs, & D. Audretsch (Eds.). Handbook of entrepreneurship research: An interdisciplinary survey and introduction: 37–52. Amsterdam: Kluwer.
Gorodnichenko, C. Y., & Roland, G. 2017. Culture, institutions, and the wealth of nations. Review of Economics and Statistics, 99(3): 402–416.
Hayek, F. 1948. Individualism and economic order. Chicago:University of Chicago Press.
Haynie, J. M., Shepherd, D. A., & McMullen, J. S. 2009. An opportunity for me? The role of resource in opportunity evaluation decision. Journal of Management Studies, 46(3): 337–361.
Heath, C. A., & Tversky, A. 1991. Preference and belief: Ambiguity and competence in choice under uncertainty. Journal of Risk and Uncertainty, 4: 4–48.
Hertwig, R., Barron, G., Weber, E., & Erev, I. 2004. Decisions from experience and the effect of rare events in risky choice. Psychological Science, 15(8): 534–539.
Hogarth, R. M. 1981. Beyond discrete biases: Functional and dysfunctional aspects of judgmental heuristics. Psychological Bulletin, 90(2): 197–217.
Ireland, R. D., Hit, M., & Sirmon, D. G. 2003. A model of strategic entrepreneurship: The construct and its dimension. Journal of Management, 29(6): 963–989.
Jawahar, I. M., & McLaughlin, G. L. 2001. Toward a descriptive stakeholder theory: An organizational life cycle approach. Academy Management Review, 26(3): 397–414.
Jegers, M. 1991. Prospect theory and the risk-return relation: Some Belgien evidence. Academy Management Journal, 34: 215–225.
Jia, J. M., Fischer, G. W., & Dyer, J. 1998. Attribute weighting methods and decision quality in the presence of response error: A simulation study. Journal of Behavioral Decision Making, 11(2): 85–105.
Kahneman, D. 2003. A perspective on judgment and choice: Mapping bounded rationality. American Psychologist, 58(9): 697–720.
Kahneman, D., & Lovallo, D. 1993. Timid choices and bold forecasts: A cognitive perspective on risk-taking. Management science, 39(1): 17–31.
Kahneman, D., & Tversky, A. 1979. Prospect theory: An analysis of decision under risk. Econometrica, 47(2): 263–292.
Kahneman, D., & Tversky, A. 1982. The simulation heuristic. New York:Cambridge Univ. Press, The simulation heuristic.
Kahneman, D., & Tversky, A. 1984. Choices, values, and frames. American psychologists, 39(4): 341–350.
Kaish, S., & Gilad, B. 1991. Characteristics of opportunities search of entrepreneurs versus executives: Sources, interest, general alertness. Journal of Business Venturing, 6(1): 45–61.
Knight, F. H. 1921. Risk, uncertainty and profile. Chicago:Univ. of Chicago Press.
Köllinger, P., Minniti, M., & Schade, C. 2007. "I think I can, I think I can": Overconfidence and entrepreneurial behavior. Journal of Economic Psychology, 28(4): 502–527.
Kogan, N., & Wallach, M. A. 1964. Risk-taking: A study in cognition and personality. NY:Holt, Rinehart and Winston.
Kühberger, A. 1998. The influence of framing on risky decisions: A meta-analysis. Organizational Behavior and Human Performance, 75(1): 23–55.
Lerner, J. S., & Keltner, D. 2001. Fear, anger, and risk. Journal of Personality and Social Psychology, 81(1): 146–159.
Li, Y. 2011. Emotions and new venture judgment in China. Asia Pacific Journal of Management, 28(2): 277–298.
Li, Y., Ashkanasy, N., & Ahlstrom, D. (2010). Complexity Theory and Affect Structure: A Dynamic Approach Modeling Emotional Changes in Organizations. In N. Ashkanasy, W. Zerbe & C. Härtel (Eds.), Research on Emotion in Organizations (pp. 139–165): Emerald Group Publishing Limited.
Li, Y., Ashkanasy, N., & Ahlstrom, D. 2014. The rationality of emotions: A hybrid process model of decision-making under uncertainty. Asia Pacific Journal of Management, 31(1): 293–308.
Li, Y., Chun, H., Ashkanasy, N. M., & Ahlstrom, D. 2012. A multi-level study of emergent group leadership: Effects of emotional stability and group conflict. Asia Pacific Journal of Management, 29(2): 351–366.
Liu, Y., Wang, L. C., Zhao, L., & Ahlstrom, D. 2013. Board turnover in Taiwan’s public firms: An empirical study. Asia Pacific Journal of Management, 30(4): 1059–1086.
Loewenstein, G. 2000. Emotions in economic theory and economic behavior. Preferences, Behavior, and Welfare, 90(2): 426–431.
Loewenstein, G., & Lerner, J. S. (2003). The role of affect in decision-making: Oxford University Press.
Loewenstein, G. F., Weber, E. U., Hsee, C. K., & Welch, N. 2001. Risk as feelings. Psychological Bulletin, 127(2): 267–286.
Loomes, G., & Sugden, R. 1982. Regret theory: An alternative theory of rational choice under uncertainty. The Economic Journal, 92(368): 805–824.
March, J., & Shapira, Z. 1987. Managerial perspectives on risk and risk taking. Management Science, 33(11): 1404–1418.
March, J. G. 2006. Rationality, foolishness, and adaptive intelligence. Strategic Management Journal, 27(3): 201–214.
McClelland, D. C. 1961. The achieving society. N.J:Van Nostrand.
McInish, T. 1982. Individual investors and risk-taking. Journal of Economic Psychology, 2(2):125–136.
Mcmullen, J. S., & Shepherd, D. A. 2006. Entrepreneurial action and the role of uncertainty on the theory of the entrepreneur. Academy Management Review, 31(1): 132–152.
Mellers, B. A., Schwartz, A., Ho, K., & Ritov, I. 1997. Decision affect theory: Emotional reactions to the outcomes of risky options. Psychological Science, 8(6): 423–428.
Minniti, M., & Bygrave, W. 2001. A dynamic model of entrepreneurial learning. Entrepreneurship Theory and Practice, 25(3): 5–16.
Mitchell, R. K., Busenitz, L., Bird, B., Gagio, C. M., McMullen, J. S., Morse, E. A., et al. 2007. The central question in entrepreneurial cognition research 2007. Entrepreneurship Theory and Practice, 31(1): 1–27.
Murphy, K. R. 1982. Assessing the discriminant validity of regression models of judgments. Multivariate Behavioral Research, 17(3): 359–370.
Norton, W., & Moore, W. 2006. The influence of entrepreneurial risk assessment on venture launch or growth decisions. Small Business Economics, 26(3): 215–226.
Ocasio, W. 1995. The enactment of economic adversity: A reconciliation of theories of failure-induced change and threat-rigidity, vol. 17. Greenwich, CT:JAI Press.
Palich, L. E., & Bagby, D. R. 1995. Using cognitive theory to explain entrepreneurial risk-taking: Challenging conventional wisdom. Journal of Business Venturing, 10(6): 425–438.
Payne, J. W. 1982. Contingent decision behavior. Psychological Bulletin, 92(2): 382–402.
Pitz, G. F., & Sachs, N. J. 1984. Judgment and decision: Theory and application. Annual Review of Psychology, 35(1): 139–163.
Raghunathan, R., & Pham, M. T. 1999. All negative moods are not equal: Motivational influences of anxiety and sadness on decision-making. Organizational behavior and human decision processes, 79(1): 56–77.
Rumelt, R. 2011. Good strategy bad strategy: The difference and why it matters. New York: Crown Business
Savage, L. J. 1954. The foundations of statistics. New York:Wiley.
Schade, C. 2009. Entrepreneurial decision making: A paradigm rather than a set of questions. Journal of Business Venturing, 4: 275–294.
Schade, C., & Burmeister, K. 2009. Experiments on entrepreneurial decision-making. Hanover, MA:now Publishers Inc.
Schumpeter, J. A. 1942. Socialism and democracy. NY:Harper.
Schwarz, N., & Clore, G. L. 1996. Feelings and phenomenal experiences. NY:Guilford Press.
Shane, S. 2001. Technological opportunities and new firm creation. Management science, 47(2): 205–220.
Shane, S. 2008. The illusions of entrepreneurship: The costly myths that entrepreneurs, investors, and policy makers live by. New Haven, CT:Yale University Press.
Shanks, R. D., Tunney, R. J., & McCarthy, J. D. 2002. A re-examination of probability matching and rational choice. Journal of Behavioral Decision Making, 15(3): 233–250.
Shanteau, J. C., & Ptacek, C. H. 1983. Role and implications of averaging processes. NY:Lexington Press.
Shapira, Z. 1995. Risk-taking: A managerial perspective. NY:Russell Sage Foundation.
Shaver, K. G., & Scott, L. R. (1991). Person, process, choice: The psychology of new venture creation. Entrepreneurship Theory and Practice, 23-.
Shaver, P., Schwartz, D., Kirson, D., & Connor, C. 1987. Emotion knowledge: Further exploration of a prototype approach. Journal of Personality and Social Psychology, 52(6): 1061–1086.
Shepherd, D. 1999. Venture capitalists assessment of new venture survival. Management science, 45(5): 621–632.
Shepherd, D. A. 2009. From lemons to lemonade: Squeeze every last drop of success out of your mistakes. Philadelphia, NJ:Wharton School Publishing.
Sieck, W. R., Merkle, E. C., & Zandt, T. V. 2007. Option fixation: A cognitive contributor to overconfidence. Organizational Behavior and Human Decision Processes, 103(1): 68–83.
Simon, H. A. 1955. A behavior model of rational choice. Quarterly Journal of Economics, 69(1): 99–118.
Simon, M., Houghton, S. M., & Aquino, K. 2000. Cognitive biases, risk perception and venture formation: How individuals decide to start companies. Journal of Business Venturing, 15(2): 113–134.
Sinha, J. 1994. Prospect theory and the risk-return association: Another look. Journal of Economic Behavior & Organization, 24(2): 225–231.
Sitkin, S. B., & Pablo, A. L. 1992. Reconceptualizing and determinants of risk behavior. Academy Management Review, 17(1): 9–38.
Sitkin, S. B., & Weingart, L. R. 1995. Determinants of risky decision-making behavior: A test of the mediating role of risk perceptions and propensity. Academy of Management Journal, 38: 1573–1592.
Slovic, P. 1995. The construction of preference. American Psychologist, 50(5): 364–371.
Slovic, P., Finucane, M. L., Peters, E., & MacGregor, D. G. ( 2002). Rational actors or rational fools? Implications of affect heuristic for behavior economics. Cambridge University Press.
Solow, R. M. 1956. A contribution to the theory of economic growth. Quarterly Journal of Economics, 70(1): 65–94.
Solow, R. M. 1957. Technical change and the aggregate production function. Review of Economics and Statistics, 39(3): 312–320.
Taleb, N. (2010). The black swan: The impact of the highly improbable. New York: Random House Trade Paperbacks (2e).
Tetlock, P. E., & Gardner, D. 2016. Superforecasting: The art and science of prediction. New York:Broadway Books.
Timmons, J. A. 1994. New venture creation: Entrepreneurship in the 21st century. Homewood:Irwin.
Tong, T. W., Reuer, J. J., & Peng, M. W. 2008. International joint ventures and the value of growth options. Academy of Management Journal, 51(5): 1014–1029.
Tversky, A., & Kahneman, D. 1992. Advances in prospect theory: Cumulative representation of uncertainty. Journal of Risk and Uncertainty, 5(4): 297–323.
Van Schie, E., & Van Der Pligt, J. 1995. Influencing risk preference in decision-making: The effects of framing and salience. Organizational Behavior and Human Decision Processes, 63(3): 264–275.
Velamuri, S. R., & Venkataraman, S. 2005. An empirical study of the transition from paid work to self-employment. Journal of Entrepreneurial Finance and Business Ventures, 10(1): 1–16.
Von Neumann, J., & Morgenstern, O. 1944. Theory of games and economic behaviour. Princeton, NJ:Princeton University Press.
Wang, L. C., Ahlstrom, D., Nair, A., & Hang, R. Z. 2008. Creating globally competitive and innovative products: China's next Olympic challenge. SAM Advanced Management Journal, 73(3): 4–15.
Watson, D., Clark, L. A., & Tellegen, A. 1988. Development and validation of brief measures of positive and negative affect: The PANAS scales. Journal of Personality and Social Psychology, 47: 1063–1070.
Wiseman, R. M., & Catanach, A. H. 1997. A longitudinal disaggregation of operational risk under changing regulations: Evidence from the savings and loan industry. Academy of Management Journal, 40: 799–830.
Wu, G., & Gonzalez, R. 1999. Nonlinear decision weights in choice under uncertainty. Management science, 45(1): 74–85.
Yechiam, E., & Busemeyer, J. 2005. Comparison of basic assumptions embedded in learning models for experience-based decision-making. Psychonomic Bulletin and Review, 12(3): 387–402.
Metadata
Title
Risk-taking in entrepreneurial decision-making: A dynamic model of venture decision
Authors
Yan Li
David Ahlstrom
Publication date
06-06-2019
Publisher
Springer US
Published in
Asia Pacific Journal of Management / Issue 3/2020
Print ISSN: 0217-4561
Electronic ISSN: 1572-9958
DOI
https://doi.org/10.1007/s10490-018-9631-7

Other articles of this Issue 3/2020

Asia Pacific Journal of Management 3/2020 Go to the issue

OriginalPaper

Go green! Exploring the organizational factors that influence self-initiated green behavior in the United Arab Emirates

OriginalPaper

Good connections with rivals may weaken a firm’s competitive practices: The negative effect of competitor ties on market orientation practices and innovative performance

OriginalPaper

Local responsiveness strategy of foreign subsidiaries of Chinese multinationals: The impacts of relational-assets, market-seeking FDI, and host country institutional environments

OriginalPaper

Indigenization of staffing in MNEs: The case of Saudi Arabia

OriginalPaper

Proactive government intervention, board gender balance, and stakeholder engagement in China and Europe

Perspectives

Innovation in MNC’S strategy and structure: the (re) emergence of host country headquarters in large emerging markets

Premium Partner

    Image Credits