Business Research in a Global Context

Multinational enterprises (MNEs) are businesses that internalize market transactions across national borders, according to the analysis of the international business (IB) literature. These companies have changed over the past few decades from being vertically integrated businesses to network orchestrators that arrange economically distributed operations across different geographic locations. Stated differently, they represent the fundamental players in global value chains (GVCs). Even though their fields of study are similar, GVC research has not yet fully been integrated into mainstream IB; instead, it is still in its infancy. The eclectic paradigm is used in this review to bring disparate threads of the GVC governance literature from several disciplines together into a logical framework. We evaluate the theory, techniques, and empirical evidence to support a more structured integration of GVC governance into future IB research, based on a systematic review of 143 theoretical and empirical publications.

Using the competitive advantage



of each, global value chains (GVCs) connect economic activity from several geographically separated sites. GVCs have gained significance by changing patterns of global interconnection, backed by underlying technology and economic pressures (World Bank & World Trade Organization, 2019). They are now fundamental components of the international business (IB) environment, mostly because they are coordinated and run by intricate networks of multinational companies (MNEs).

The resulting "GVC economy" is structurally distinct from that of its forebears, with a greater degree of equal distribution of trade patterns across the global north and south divides and a focus on intermediate rather than finished goods and services (Gereffi, 2018, p. 431). Consequently, nations at all levels of development are today more interconnected than they were a few years ago (Backer & Flaig, 2017; OECD, 2013). It follows that the GVC governance literature's explanations of MNE organization and control build upon and supplement current IB theories.
In general, GVC theory provides a network-to-firm or "outside-in" viewpoint on the function of MNEs and the organization of their international operations. With an emphasis on inter-organizational linkages and the geographic dispersion of value chain activities, Gereffi (1994) reframed talks about globalization and interconnection from world systems theory (Hopkins & Wallerstein, 1977). This led to the development of this approach. Governance in GVC literature refers to the relative power and coordinating relationships among participating enterprises, just as it did in the global commodity chain (GCC) research that came before it (Gereffi, 1994). However, in the relevant research on global production networks (GPNs), the term "governance" refers to the institutional and regulatory structures that influence how the production network interacts with its surroundings (e.g. Coe & Yeung, 2015).

When taken as a whole, these viewpoints help to create a "systemic view" of the collection of interactions and tasks that make up the value chain. We provide an integrated definition of GVC governance as the management and structure of GVCs in an effort to take into account both. Within this, control comes from the power dynamics between businesses as well as from institutional and market factors; organization, on the other hand, refers to the structure and features of inter-firm connections across value chain nodes. Variations in these GVC organization and control mechanisms play a crucial role in determining network structure dynamics as well as the results for businesses and locales. Because it captures the organizational processes that lead MNEs utilize to exert control over externalized activities and how those mechanisms can influence interactions with the external environment, this systemic view is helpful to IB (Benito, Petersen, & Welch, 2019).

Design of research


We carried out a qualitative content analysis of an interdisciplinary selection of works that self-identify as studies of GVC or GPN governance in order to methodically analyze the intersections between IB and GVC governance. We can study subjects for which it would be challenging to access and obtain quantitative data by using the qualitative content analysis approach (Gaur & Kumar, 2018). The content analysis promises a thorough investigation of issues within by combining traditions from both qualitative and quantitative methods.

GVC governance: convergences with the advantages of O, L, and I
The outcomes of the literature review are discussed in relation to an integrative framework that connects the OLI sub-paradigms and GVC governance. Our paper restricts our consideration of the chronological evolution of these domains, departing from previous assessments of GVC and GPN literature to fully focus on governance and the linkages with IB. Readers who are curious about the disciplinary divisions and historical evolution of global factory streams, GVCs, GCCs, and GPNs are encouraged to consult

Talk and upcoming studies


Regarding the GVC governance literature, our results point to three broad themes. First, there are advantages to using the "inside-out" or firm-to-network approach in IB to explain how lead firms' orchestrating role contributed to the GVC governance's antecedents. Second, GVC theory's "outside-in" or network-to-firm approach has produced insights that are useful in explaining the GVC governance outcomes that highlight lead businesses' network dependence. Third, both fields demonstrate

In summary
This review was intended to help academics consider the intersections between IB and GVC governance in a more methodical manner. In order to achieve this, we have arranged and analyzed the interdisciplinary theoretical and empirical studies that have already been done on GPN and GVC governance using the macro-level OLI framework. As part of our investigation, we looked at the underlying theories and content of the diverse literature on GVC governance and created an integrative framework that was arranged in relation to OLI.

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