Belt and Road Initiative, globalization and institutional changes: implications for firms in Asia

Research on Belt and Road Initiative (BRI) is rising but far from complete. This special issue (SI) aims to enhance our understanding of how firms in Asia and beyond strategically respond to the BRI and what new theories and investigations are needed to better elucidate this new environment. In this editorial, we present a brief description of BRI, a review of related studies in the international business (IB) domain, a summary of the articles included in the SI and their contributions to the study of BRI, and an agenda for future research. We suggest that more attention should be given to examination of organizational heterogeneity under the BRI theme. In particular, there exists a variety of players like the governments of the host countries, non-government institutions, firms with different ownership structures, managers with different backgrounds, and their idiosyncratic characteristics should be incorporated in BRI studies. Moreover, future studies should find fine-grained ways to theorize and operationalize the policy effects of BRI. We call for further investigation of the consequences of BRI, including but not limiting to different aspects of IB activities, innovation, entrepreneurship, and corporate social responsibility.

Automated summary

This editorial provides an overview and review of research on the Belt and Road Initiative (BRI), suggesting a need for more focus on organizational heterogeneity and policy effects in future studies. It calls for further investigation into the consequences of BRI on various aspects such as international business, innovation, entrepreneurship, and corporate social responsibility. Additional attention is also recommended to be given to incorporating the unique characteristics of different players involved in the BRI theme.