Purpose While Austrian foreign direct investment (FDI) in Asian economies experiences a rising trend, the following question arises: Why does Austria invest more in certain economies over others? This study intends to assess the factors that drive Austrian investment in Asian economies. Design/methodology/approach Based on the ownership, location and internalization framework and the knowledge capital approach, this study hypothesizes that knowledge capital significantly attracts FDI from Austria. Meanwhile, this study applies the panel-corrected standard error method to analyze data for 11 Asian economies from 1990 to 2022. Findings After considering endogeneity, the results show a positive and significant correlation between expenditure in research and development per gross domestic product (GDP) in the host economies and FDI inflow from Austria. In addition, the study reveals that factors such as market size, trade openness and natural resources in the host economies significantly influence Austria’s FDI, which indicates that Austrian investors fall into the three main FDI typologies: market-seeking, resources-seeking and efficiency-seeking. Originality/value This study fills the literature gap by becoming the first to analyze the determinants of Austrian FDI in Asian economies, thus enriching our understanding of Austria’s global investment pattern.

Purpose This study investigates the causal impact of pilot free trade zones (PFTZs) on Chinese outward foreign direct investment (OFDI). Design/methodology/approach The study uses the concept of ownership advantage (OA) to derive the conceptual link between PFTZs and OFDI. Using Chinese provincial data from 2003 to 2022, the study employs various difference-in-difference estimators to estimate homogeneous and heterogeneous treatment effects. Findings Assuming a homogeneous treatment effect on the treated, implementing a PFTZ spurs OFDI. However, considering heterogeneity in treatment effects over cohorts and time diminishes the evidence for a positive impact. A positive causal effect on OFDI is established only for the Shanghai (China) PFTZ. Practical implications As China is a leading emerging economy with a state-driven development model, this study has significant implications for other developing and middle-income countries seeking to leverage PFTZs – or similar special economic zones – to stimulate OFDI. Originality/value This study conceptually links PFTZs to OFDI through the OA framework and explicitly models heterogeneity of effects across batches of PFTZs and over time. The latter is essential, as institutional differences across PFTZs may result in varying degrees of generation and overseas exploitation of OAs.

Purpose Although Asia's rise in the global economy is increasingly recognized, international business (IB) interactions between Japan and India remain under-commented. These interactions are especially salient due to the United Nations Sustainable Development Goal 17 (UN SDG 17), which focuses on partnerships. This study updates and analyzes the strategic orientation of Japanese multinational enterprises (MNEs) in India. Design/methodology/approach Following a subjectivist approach, this study employs a constructivist epistemology. Utilizing mixed methods, it obtains primary data from interviews and informal conversations with senior personnel from Japan and India and secondary data from archives. These data then undergo manual organic thematic analysis. Findings The study reveals instances of Japanese MNEs diverging from traditional ethnocentric orientations, such as senior management's growing commitment to India. The findings also indicate that the transformation to a polycentric orientation remains incomplete. Practical implications The study uncovers themes impeding a polycentric transformation, offering insights for strengthening international partnerships and emphasizing the necessity of prioritizing local demands and cultural expectations. Social implications Clues to strengthening IB contribute to attain UN SDG 17, especially given the advanced-emerging characteristics of the Japan–India dyad. Originality/value This study’s research makes a novel contribution to the literature on international strategic orientations by providing insights into a rare dyad – namely, Japanese MNE expansion in India. It is also a valuable and timely addition consistent with current beyond-China business diversification trends.

Purpose This study demonstrates the necessary and significant role of national formal institutional frameworks in shaping the quality of e-governance in Asian countries. Moreover, it presents a robust model of e-governance as a necessary and significant driver of sustainable human development. Design/methodology/approach This study applied the cross-lagged panel method in path modelling and conducted competing model and necessary condition analyses to test the lagged, necessary and positive effects of formal institutions on the level of e-governance and sustainable human development in 45 Asian countries from 2012 to 2022. Findings Formal governance institutions have necessary direct and indirect (through e-governance development) causal effects on a country’s sustainable human development. Research limitations/implications Future studies should explore how informal institutions such as culture, industry and government norms and practices shape the extent of e-governance development and sustainable socio-economic development in Asia and beyond over time. Practical implications A renewed focus on the institutional fundamentals of governance and development should be the legislative priority of policymakers and leaders of Asian countries. Social implications Proactive digital citizen engagement in institutional building in respective countries is critical to developing sound, human-development-centred institutional governance in Asia. Originality/value The study presents robust necessary condition models that offer more nuanced explanations of the institutional imperatives of enabling Asian countries to strengthen their e-governance towards sustainable human development.

Purpose This study aims to examine the premature deindustrialization risk in Vietnam. Design/methodology/approach This study uses a manufacturing–income relationship to conduct an empirical estimation. The latecomer index is adopted in the regression model to identify a downward shift of latecomer's relationship. Findings The empirical analysis indicates that there is a risk of premature deindustrialization in the Northern Midlands and Mountain Areas. The provinces with low trade openness or foreign direct investment may experience risk of premature deindustrialization. Practical implications This study proposes technology diffusion as a policy direction to prevent premature deindustrialization. Furthermore, the Vietnamese government should improve the business environment in the Northern Midlands and Mountain Areas by promoting and attracting export-oriented foreign direct investment. Originality/value This study is the first to examine premature deindustrialization in Vietnam based on provincial-level data.