Volume 9 • 2022 • Number transnational corporations investment and development

Trinity College Dublin, Ireland
Maria Alejandra Gonzalez-Perez, 
Universidad EAFIT,
Colombia
Markus Krajewski, 
Friedrich-Alexander-Universität Erlangen-
Nürnberg, Germany
Jeffrey Owens, 
Vienna University of Economics and Business, 
Austria
Grazia Santangelo, 
Copenhagen Business School, Denmark
Rudolf Sinkovics, 
University Glasgow, United Kingdom; LUT 
University, Finland
Ana Teresa Tavares-Lehmann, 
University of Porto, Portugal
Tania Voon, 
University of Melbourne, Australia
Hinrich Voss, 
HEC-Montréal, Canada
Habib Zitouna, 
University of Carthage, Tunisia
EDITORIAL BOARD

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TRANSNATIONAL CORPORATIONS 
Volume 29, 2022, Number 2
iv
Editorial
Review Board
Ilan Alon, 
University of Agder, Norway
Ulf Andersson, 
Mälardalen University, Sweden
Kazuhiro Asakawa, 
Keio University, Japan
Snehal Awate, 
Indian School of Business, India
Elitsa Banalieva, 
Northeastern University, United States
Helena Barnard, 
University of Pretoria, South Africa
Jonathan Beaverstock, 
University of Bristol, United Kingdom
Stephen Buzdugan, 
Manchester Metropolitan University,
United Kingdom
Bin Sheng, 
Nankai University, China
John Da Silva Luiz, 
University of Sussex, United Kingdom
John Dilyard, 
St. Francis College, United States
Stefano Elia, 
Politecnico di Milano, Italy
Maria Elo,
 University of Southern Denmark, Denmark
Peter Enderwick, 
Auckland University of Technology, New Zealand
Despoina Filiou, 
The Open University, United Kingdom
Susan Franck, 
American University, United States
David Freund,
 Uppsala University and Mälardalen University, 
Sweden
Caroline Henckels, 
Monash University, Australia
Martin Hess, 
University of Manchester, United Kingdom
Jenny Hillemann, 
Vrije University, Belgium
Rory Horner, 
University of Manchester, United Kingdom
Kevin Ibeh, 
Birkbeck, University of London, United Kingdom
Vaneet Kaur
, Kent State University, United States
Kathryn Lavelle, 
Cape Western Reserve University, United States
Andrew Mitchell, 
University of Melbourne, Australia
Sinead Monaghan, 
Trinity College Dublin, Ireland
Mike Morris, 
University of Cape Town, South Africa
Khalid Nadvi, 
University of Manchester, United Kingdom
Quyen Nguyen, 
Henley Business School, United Kingdom
Bent Petersen, 
Copenhagen Business School, Denmark
John Ravenhill, 
University of Waterloo, Canada
Stephan Schill, 
University of Amsterdam, Netherlands
Noemi Sinkovics, 
University of Glasgow, United Kingdom
Gabrielle Suder, 
University of Melbourne, Australia
Marjan Svetli
čič
, 
University of Ljubljana, Slovenia
Xiaowen Tian, 
Murdoch University, Australia
Ari Van Assche, 
University of Montreal, Canada
Henry Yeung, 
National University of Singapore, Singapore
Stefan Zagelmeyer, 
University of Manchester, United Kingdom
Ivo Zander, 
University of Stockholm, Sweden

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v
Editorial Statement
EDITORIAL STATEMENT
Transnational Corporations
1
is a longstanding, policy-oriented, refereed research journal 
on issues related to investment, multinational enterprises and development. It is an 
official journal of the United Nations, managed by the United Nations Conference on 
Trade and Development (UNCTAD). As such it has global reach, a strong development 
policy imprint and high potential for impact beyond the scholarly community. 
There are no fees or article processing charges associated with submitting to or 
publishing in 
Transnational Corporations
. All articles of the online version of the journal 
are open access and free to read and download for everyone.
Aims and scope
The journal aims to advance academically rigorous research to inform policy dialogue 
among and across the business, civil society and policymaking communities. Its 
central research question – feeding into policymaking at subnational, national and 
international levels – is how cross-border investment, international production, 
multinational enterprises and other international investment actors affect sustainable 
development. The journal invites contributions that provide state-of-the-art knowledge 
and understanding of the activities conducted by and the impact of multinational 
enterprises and other international investors, considering economic, legal, institutional, 
social, environmental or cultural aspects.
The journal welcomes submissions from a variety of disciplines, including international 
business, innovation, development studies, international law, economics, political 
science, international finance, political economy and economic geography. 
Interdisciplinary work is especially welcomed. The journal embraces both quantitative 
and qualitative research methods, and multiple levels of analyses at macro, industry, firm 
or individual/group level. 
Transnational Corporations
aims to provide a bridge between academia and the 
policymaking community. It publishes academically rigorous, research-underpinned 
and impactful contributions for evidence-based policy analysis and policymaking, 
including lessons learned from experiences in different societies and economies, 
in both developed- and developing-country contexts. It welcomes contributions from 
the academic community, policymakers, research institutes, international organizations 
and others. 
In addition, 
UNCTAD Insights
articles feature original research by UNCTAD staff, 
frequently conducted in collaboration with researchers from other organizations, 
universities and research institutions. The aim of the 
UNCTAD Insights
articles is to 
1
Previously: 
The CTC Reporter
. In the past, the Programme on Transnational Corporations was carried 
out by the United Nations Centre on Transnational Corporations (1975–1992) and by the Transnational 
Corporations and Management Division of the United Nations Department of Economic and Social 
Development (1992–1993).

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TRANSNATIONAL CORPORATIONS 
Volume 29, 2022, Number 2
vi
advance and support research on investment and development, in line with UNCTAD’s 
work programme, catalysing further work and helping to set a policy-relevant research 
agenda. 
Unique benefits for authors: direct impact on policymaking processes
Through UNCTAD’s wider development community and its global network of investment 
stakeholders, the journal reaches a large audience of academics, business leaders 
and policymakers. UNCTAD’s role as the focal point in the United Nations system for 
investment issues guarantees that its contents gain significant visibility and contributes 
to debates in global conferences and intergovernmental meetings, including the 
biennial 
World Investment Forum
and the Investment and Enterprise Commission.
The research published in 
Transnational Corporations
feeds directly into UNCTAD 
programmes related to investment for development, including its flagship product, the 
annual
 World Investment Report
, and its technical assistance work (investment policies 
reviews, investment promotion and facilitation and investment treaty negotiations) in 
more than 160 countries and regional organizations. The journal thus provides a unique 
venue for authors’ academic work to contribute to, and have an impact on, national and 
international policymaking.
For further information on the journal, including ethics statement and review policy,
visit https://unctad.org/Topic/Investment/Transnational-Corporations-Journal.

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Contents
CONTENTS