Over the past two decades, there has been a substantial shift in the global innovation landscape. Multinationals from developed economies are increasingly globalizing their R & D activities and are developing an “open innovation” model to source innovations from outside the firm, including...

This paper studies the impact of business modernization on the sales performance of traditional retailers. We define modernization as adopting tangible structures and business practices of organized retail chains (for example, exterior signage with store name and logo, or a database to record...