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Drawing from signaling theory and the multinational global value chain (GVC) literature, this study examines a critical question “does the adoption of eco‐friendly technology improve firm value?”. In addressing this question, we test a panel dataset for 633 technology multinational enterprises (TMNEs) operating in 15 emerging economies and covering 10 years from 2009 to 2019. This paper provides new insight into the increasing CO2 emission concerns, especially from the emerging economies and household consumption perspectives. Our study reveals that the adoption of eco‐friendly technology by TMNE's GVC operations will increase firm value and increase total environmental spending. Consequently, CO2 footprints in emerging countries will be reduced. Our findings are robust, controlling for several firm‐level and country‐level variables in our analysis. The practical, managerial, and policy implications of our study are discussed.

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Understanding how and why firm behave differently during re-internationalization has increasingly been at a premium in international business research. We conducted a case study of eleven Chinese international SMEs and explored how they learned and recovered from involuntary deinternationalization. From case data, the "complete" re-internationalizers learned the lessons of foreign market exits more proactively than "partial" re-internationalizers. The complete reinternationalizers adopted internal and external sources of knowledge acquisition, "middle-up-down" information distribution and ambivalent information interpretation, while the partial reinternationalizers relied on internal sources of knowledge, "top-down" or "bottom-up" information distribution and univalent information interpretation. Our study contributes by identifying the crucial role of learning processes to complete re-internationalization, which is absent in existing re-internationalization research.