This study examines how Nongshim, a Korean instant noodle manufacturer, has expanded its operation globally within the concept of "open innovation" through its glocalization strategy, and how this strategy differs from the existing glocalization method enforced by global companies. The study...

Localization, the process of establishing the most adequate system in the target market according to the given environment to produce the most viable product in the market, can help multinational enterprises (MNE) to better understand the market, and take the most appropriate actions needed....

Although corporate finance theory suggests how adverse shocks influence shareholder preferences toward corporate risk-taking and executive compensation, few researchers explore this relationship empirically. We construct a firm-year measure of unexpected shocks to environmental regulatory...