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PurposeSince ensuring methodological rigour is a prerequisite for high quality empirical research, this study aims to examine methodological choices in empirical studies on dynamic capabilities (DC), and analyses how well they accommodate the complexity of the concept.Design/methodology/approachThe paper is a systematic review of 142 published peer reviewed journal articles on DC.FindingsAlthough DC research comprises a balanced mix of qualitative and quantitative studies, there are many problem areas in terms of research methods. First, the use of past performance data against current status of DC must be addressed. Second, as DC deals with change, caution needs to be exercised in the use of cross‐sectional data. Third, the essence of DC should not be lost in operationalization, and the research setting needs to be meaningful from the DC perspective. Finally, DC scholars must devote more attention to proper reporting of the research process and justification of the choices made.Research limitations/implicationsInadequate rigour encumbers DC research. This study shows the areas for immediate attention. The implications are relevant for DC researchers, journal reviewers and editors as well as readers of scholarly DC articles.Originality/valueThis study is a novel contribution towards understanding the methods used in DC research. It introduces the issue of methodological fit into the DC discussion and highlights the methodological aspects that need to be considered and reported in more detail in future research articles. It also has implications on how to conceptualise DC.

PurposeIn order to respond to the call for a broader perspective on the internationalization of entrepreneurial firms, this study aims to bring the business model concept to the context of international entrepreneurship, with special emphasis on the notion of value formation and value exchange at company interfaces.Design/methodology/approachThis is a cross‐case study based on qualitative data from business model workshops with key company informants in each case firm.FindingsThe findings of the study indicate that, although the business models of firms with comparable positions may appear similar, there are fine‐grained differences both in their activities and in their value formation. In addition, the data collection workshops revealed that firms tend to neglect the inspection of their incentives to their partners, as they concentrate on value formation to end‐customers.Practical implicationsFrom the managerial point of view, the study shows how the managers of international entrepreneurial firms may describe and analyze their business model, including the whole value chain, systematically from the perspective of value exchange. Firms may gain insights from examining the business models of similar organizations.Originality/valueEven though the role of the business model has also been discussed in previous studies, it has not been so explicitly pronounced in the domain of international entrepreneurship. The paper contributes to previous business model conceptualizations by adding the notion of value exchange at the company interfaces.