Sustainability of global and international business operations during the adversity and hardship

The COVID-19 pandemic has altered the way business is conducted. The widespread closure of commercial organizations presents opportunities to reset the way business activities are conducted. Regardless of the organization’s size or its status as a domestic or international firm, due diligence is required to find solutions that will allow firms to sustain their business activities in uncertain times. This study addresses this issue and attempts to identify issues that require urgent attention so that organizations can be effective and efficient in their global operations. In this context, the study proposes three imperatives for global/international businesses to sustain their operations in the long term. These imperatives include having a strong reserve fund, access to a local mutual fund, and networking to form alliances in host countries. Other implications are discussed, and we identify areas for future research.

Moderating Effects of Founders’ Role on the Influence of Internationalization on IPO Performance of Listed Companies in Thailand

Previous research suggests that internationalization affects initial public offering (IPO) performance in the short term, but it less is known about the founders’ role in the relationship between internationalization and IPO performance. The objectives of this study were to investigate moderating effects of the founders’ role on the impact of internationalization on IPO performance of newly listed companies. The samples included 80 international firms listed in Thailand stock markets from 2013 to 2020. Multiple regression analysis was employed to test the effects of internationalization on IPO performance, and the PROCESS macro was applied to test the moderating effects. Founder CEO as a proxy of a founders’ role was a moderator variable where internationalization was a predictor variable and IPO underpricing, a proxy of IPO performance, was the outcome variable. The results revealed that internationalization demonstrated no statistically significant effect on IPO underpricing. A non-founder CEO had a moderating effect on the influence of internationalization on IPO underpricing, whereas a founder CEO revealed no moderating effect. Specifically, internationalization had a negative effect on IPO underpricing once an international firm had a non-founder CEO. A decrease in IPO underpricing of international firm is clearly explained by the results of this study.