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There has been vigorous debate about whether the world's largest firms are regional or global in their operations and strategy. Some authors argue that global vision and strategy are essential for most firms in today's interconnected world, while others claim that even the largest multinational firms are mostly confined to their home regions—and that global strategy is a myth. Using a novel data set of over 1,000 of the world's largest firms, we provide a new perspective on this debate. We show that these firms range from domestic to regional, transregional, and global, with the implication that global strategy is alive and well in international business. © 2015 Wiley Periodicals, Inc.

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This article investigate the relationship between financial distress, well-being and employment status. Using several indicators of financial distress and of well-being, our econometric analysis shows that the negative association between financial distress and well-being is moderated by employment status in the sense that financial problems are more strongly associated with poor well-being for the self-employed compared to the wage-employed. Hence, when self-employed workers find themselves in a situation of financial distress, the negative consequences for their well-being are more severe. This is found to hold both for the self-employed with and without employees.