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This literature review analyzes leading international business and management journals from 2000 to 2012 in order to explore the role of national culture in international business research. Through the analysis of the 265 selected articles, the study thematically maps the field and identifies research challenges and opportunities. It reflects on avenues for future research related to both thematic and methodological issues, among them: research focused on the impact of the home/host national culture on internationalization processes (as existing literature mainly focuses on cultural distance); the role to be played by new theoretical frameworks; and the need to consider cultural positions and cultural friction rather than traditional cultural distance when analyzing internationalization decisions.

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This study analyses international student mobility (ISM) in Europe since the 1999 Bologna Declaration. International mobility of higher education students is both a driver and a consequence of the Bologna Process and emerges as a relevant issue in a wide range of research areas. This literature review develops a qualitative content analysis of the set of high-performance articles published between 2000 and 2018 and identified through a wide range of bibliometric tools: direct (first generation) citation counts; indirect or accumulated impact; early influence; adjusted impact with respect to year of publication, type of document, and discipline; and alternative metrics that measure interactions in the internet and social media. The content analysis focuses on the pending achievements and main challenges to ISM, among them: attracting non-European students to whole degree programs, the need for actual and further convergence in programs and systems to ensure real compatibility, the impact of HE ISM on the promotion of the European citizenship and consciousness, the sharp imbalance between credit and degree mobility, the need to strengthen the link between ISM and employability, the existing social selectivity in European ISM, the frequent social segregation problems faced by international students.

We analyze the determinants of the choice between greenfield joint ventures, full acquisitions, and partial acquisitions in the internationalizationexpansion of a firm through foreign direct investments. Our results show that this choice is conditioned by transaction-cost factors (particularly the cultural distance between the home and host countries), as well as by the previous experience and internationalization path of the foreign investor, as suggested by the knowledge-based theories of the firm.

This paper analyzes the role language distance plays on the choice between greenfield investments and acquisitions when investing abroad. Based on transaction cost theory, the paper focuses on the impact of language distance on ex ante and ex post costs in international acquisition processes. In order to empirically test our predictions, a database of foreign direct investments made by listed Spanish firms was used. Empirical results point towards a tendency to avoid acquisitions as investment mode in international contexts characterized by high language distance.

and Key Results■ What is the expected reaction regarding the stock price of companies which carry out FDIs (Foreign Direct Investments)? Results from previous research focusing on specific entry modes are inconclusive.■ The aim of this paper is to test whether the stock market reaction to FDIs is dependent not only on the entry mode that the investing firm may have chosen, but also on the interaction between the entry mode and the other FDIs' attributes.■ By focusing on the recent international expansion by means of FDIs of listed Spanish firms, we have found that stock market reaction to FDIs depends upon the interaction between the entry mode and the location of the investment, the identity of the investor and the latter's international experience.