The School of Economics, Management and Political Science at the University of Minho (EEG) is proud to announce that Bimbo Adejare has presented his doctoral thesis entitled ‘Managing International Nonmarket Strategy: The Role of Firm Dynamic Capabilities’.
In the author's own words: "Nonmarket risks arising from political, regulatory, and institutional environments pose significant challenges to firm performance, particularly when internationalizing into emerging economies where institutional void and volatility may be high. While prior research has emphasized strategic responses to such risks, limited attention has been paid to the role of firm-level dynamic capabilities in shaping these responses and achieving sustainable internationalization performance. This study examines how multinational enterprises (MNEs) operating in Nigeria manage international nonmarket risks through the development and application of firm dynamic capabilities.
Adopting a qualitative research design, this study conducted semi-structured interviews with top managers across selected MNEs operating in Nigeria. The data collection sought to capture the role of perceived political uncertainty as a determinant of the engagement and non-engagement approaches adopted to interact with nonmarket stakeholders and influence policies to the advantage of firms in foreign markets. The content analysis reveals that anticipative capabilities, maintaining and managing relational and transactional rapport with nonmarket stakeholders are key to successful firm internationalisation performance. Furthermore, results suggest that firm size and management political experience may moderate the impact of perceived political uncertainty and firm dynamic capabilities on internationalization performance. Findings also reveal that firms actively build adaptive routines that integrate stakeholder engagement, regulatory alignment, and political intelligence into their core non-market strategies. Moreover, managerial perception of institutional uncertainty strongly influences the design and deployment of these dynamic capabilities. Based on the results, a research model and research propositions are developed to guide future research.
The study contributes to international business and nonmarket strategy literature by extending the understanding of dynamic capabilities beyond market competition to nonmarket contexts. It also offers practical implications for managers of MNEs, highlighting the need to institutionalize adaptive learning and proactive engagement with nonmarket stakeholders. In doing so, the research underscores the centrality of dynamic capabilities in enhancing organizational resilience and sustaining long-term performance in emerging markets."
The doctoral thesis was supervised by Professor Ana Maria Soares, Lecturer in the Department of Management at the School of Economics, Management and Political Science at the University of Minho.
EEG congratulates Bimbo Adejare on his defence and wishes him every success in his professional and personal life!
