Purpose: The purpose of this paper is to summarize previous research findings of the relationship between reputation and sustainability at the firm level.Design/methodology/approach: This research uses a systematic literature review of 306 retrieved articles that matched the search criteria. After applying filters and narrowing the sample to a total of 156 articles of a 19-year period (2000–2019) that were finally content analyzed for this study in order to identify sources, authors, theories, methodologies, and opportunities for future research.Findings: Findings demonstrate that in most of the cases, sustainability appears to be an antecedent of corporate reputation and a tool to enhance stakeholders' acceptance and perceptions on companies' activities.Practical implications: The study shows the potential of sustainability reporting as a tool to enhance corporate reputation; moreover, it also discussed the likely effect of sustainability over brand equity. This research confirms the importance of having strategic management of both corporate sustainability and reputation management. Including both reputational management and sustainability in the corporate strategy can be a potential source to create value, protect against difficulties and liabilities, and maximize business survival.Social implications: For business, establishing clear positions in relation to environmental and social issues, building collaborative global networks and authentic local relations, giving signals that reaffirm business purposes with all stakeholders, and adhering to the sustainable development agenda enhance positive corporate reputation.Originality/value: In addition to answering the stated research question and in fact filling a gap in the literature, this study led us to identify 25 research questions classified in seven different areas (measurement and scales; causes and effects; longitudinal studies; geographical contexts; theory building; digital as a novel environment; and new actors and institutions).

Purpose: – This paper aims to provide an examination of the ongoing internationalisation processes undertaken by 30 major multinational Colombian-owned firms. It also presents a theoretical overview and a conceptual framework for the understanding of internationalisation patterns from emerging countries’ multinational enterprises.Design/methodology/approach: – This study is built based both on the results collected from comparative case studies based in the literature and empirical observations of Colombia’s patterns. This study observed the evolution in terms of commitment and investment decisions that 30 major Colombian companies have undergone specially within the past decade.Findings: – Although, it was found that direct exports is the widespread entry mode of Colombian companies to foreign markets, most of the observed firms preferred the consolidation in host markets through Mergers & Acquisitions instead of using Greenfield investments or joint ventures. These observations might suggest similarities with the process of internationalisation of Asian tigers multinationals, which means that they are consolidating their internationalisation process based on their learning, linkages and leverages capabilities. Furthermore, Colombian companies are following the internationalisation pattern of other multilatinas. These companies have first explorer natural markets for them; in other words, they have first attempt to be established in markets that share psychic features, and similar institutional environments, as psychic and physical proximity reduces risk and facilitates foreseen return of investments, and therefore long-term capital accumulation.Research limitations/implications: – This study has some limitations that suggest further research. First, although the observed firms share one main characteristic: being Colombian-owned multinationals, they belong to diverse fields, so this might pose difficultly for the creation of a framework that explains other multinationals drivers to internationalise. A second limitation is that this analysis does not deepen into the internationalisation patterns of multilatinas from countries other than Colombia; this leaves room for further research questions that might deal with the issue of analysing advantages and disadvantages in the internationalisation process of developing country multinational corporations (DCMCs). A third limitation is that this study does not have a longitudinal approach, so this paper does not intent to provide definitive information about cause-and-effect relationship regarding the drivers for DCMCs to internationalize, instead, this study is intended to provide an analysis of the outward foreign direct investment decisions of Colombian multinational firms.Practical implications: – There is limited research based on primary data on accessing the internationalisation process of Colombian multinational companies. This paper offers a research framework and results which could be replicated in other Developing Country Multinational Corporation (DCMNC), and could also be studied longitudinally. This study includes relevant information on the drivers for international expansion, market selection, perceived obstacles, entry modes and consolidation in host markets via acquisitions that could possibly support managerial decisions.Originality/value: – There is limited research based on primary data on accessing the process of internationalisation of Colombian multinational companies. This paper offers research framework and results which could be replicated in other DCMNC, and also could be longitudinally studied. This study includes relevant information on the drivers for international expansion, market selection, perceived obstacles, entry modes and consolidation in host markets via acquisitions that could eventually support managerial decisions.

Purpose: The purpose of this paper is to review the literature on corporate reputation and internationalization to identify key research theories, contexts, characteristics, methodologies, applications, limitations and opportunities for future research on the interlinks between these two complex constructs. Design/methodology/approach: Elements of systematic literature review and bibliometric analysis were used to analyze theories, contexts, characteristics, methodologies and opportunities for future research based on 90 articles published in 50 journals over 27 years. Findings: The findings suggest that this is a contemporary yet expanding research field explored from a variety of theoretical, methodological and empirical standpoints, which hinders broad conclusions and warrants further research. More specifically, this paper identifies three broad research streams that link international expansion and corporate reputation and suggests avenues for future studies: cross-national institutions, strategic decisions and corporate reputation; international marketing, consumers and brand credibility; and corporate image, international trade and investment flows. Originality/value: Reputation and internationalization are constructs with multiple applications and interpretations. The way companies build, maintain and extend their reputation and legitimacy, and the drivers, motives and difficulties faced by them when expanding operations internationally have been widely studied separately. This manuscript reviews the nascent and promising linkage between these two elements that have recently drawn the attention of business practitioners and scholars alike.

Within the last two decades, the international expansion of Latin American companies has undergone remarkable growth. This phenomenon has attracted scholarly attention, however, most of the available research is focused on companies that have already engaged in foreign direct investment (FDI), meanwhile, Latin American firms in pre-FDI stages remain mostly understudied. This article uses an explanatory case study design to analyze the corporate reputation and decision-making process related to international expansion of a set of ten Latin American companies. Both archival and primary data were used in the individual and cross-case analyses stages for 22 months. Our study identifies and establishes analytical generalizations when examining and contrasting the findings with the previously revised theoretical frameworks. More specifically, we identified that these companies exhibit similarities with the behavior of Jaguars, the Latin American wild feline; especially because of (i) their preference to remain in their regional market to exploit current capabilities and advantages, and eventually enter developed markets to upgrade capabilities and surpass strong competitors at home; (ii) their strategies to disguise their country of origin and lack of experience when operating internationally; and (iii) their solitary behavior and reluctance to engage in partnerships and/or strategic alliances unless they have a specific interest in building legitimacy and enhancing reputation.

Purpose: This theory testing paper compares and analyzes the internationalization process of two Mexican family-owned firms: Xignux and Grupo Alfa. This paper is intended to offer a theoretical understanding using existing frameworks such as OLI (ownership, location and internationalization), LLL (linkage, leverage and learning) and the Uppsala model. Furthermore, it tests whether the theoretical framework of organizational capabilities and international ventures fits the internationalization of these companies. Design/methodology/approach: This paper is based on case study methodology using the companies’ publically available data. Both within-case and cross-case analysis were carried out to identify specific traits in the internationalization pattern of both firms; cases were also compared with literature to identify conflicts and similarities that enable a better understanding of the phenomenon. Findings: It was found that not a single theory fully and satisfactorily explains the internationalization of both Xignux and Alfa, instead, issues like internationalization into low psychic distance countries, establishment of strategic alliances and the exploitation of locational-specific advantages contributed in the international expansion of the studied companies. Originality/value: There is an increasing amount of available literature regarding internationalization strategies and internationalization theories applied to developing and emerging country firms. However, most of the studies analyze companies from Asia, and there are limited studies on multilatinas (i.e. Latin American multinationals). Furthermore, scholars in the field of international business are still debating whether the existing theories, or an adaptation of them, explain the internationalization of multilatinas.