Forthcoming and Online First Articles

Journal of Business and Management

Journal of Business and Management (JBM)

Forthcoming articles have been peer-reviewed and accepted for publication but are pending final changes, are not yet published and may not appear here in their final order of publication until they are assigned to issues. Therefore, the content conforms to our standards but the presentation (e.g. typesetting and proof-reading) is not necessarily up to the Inderscience standard. Additionally, titles, authors, abstracts and keywords may change before publication. Articles will not be published until the final proofs are validated by their authors.

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(One paper in press)

Regular Issues

  •   Free full-text access Open AccessThe COVID-19 pandemic effects on FDI in select emerging economies
    ( Free Full-text Access ) CC-BY-NC-ND
    by Rama K. Malladi, Burhan F. Yavas 
    Abstract: This paper explores the relationship between stock markets and foreign direct investment (FDI) inflows in four major emerging markets: Brazil, Russia, India, and South Africa. Using quarterly data from 1997Q1 to 2020Q3, including the COVID-19 period, we analyse the influence of stock market levels and returns on FDI using various statistical models. Our findings show that stock market performance is a key determinant of FDI decisions, with changes in FDI inflows occurring gradually in response to stock market shifts. The first quarter of 2020, marked by COVID-19 and a sharp market decline, significantly disrupted FDI patterns. Additionally, macroeconomic factors such as GDP growth, exchange rates, and interest rates also impact FDI. By incorporating financial variables often omitted in existing research, this study adds to the ongoing debate on FDI determinants, particularly under global uncertainty. This is the first panel data study focusing on the stock market-FDI nexus in these four emerging economies.
    Keywords: stock returns; foreign direct investment; FDI decisions; supply chains; M&A; emerging markets; BRICS.
    DOI: 10.1504/JBM.2025.10072076