Earthquakes are a major source of destruction. They destroy roads, ports, power plants, fixed assets, disrupt supply chains. All this destruction/disruption should negatively affect the firm. Particularly it should destroy value (market capitalization) and cash flows.An alternative view is based...

•Natural disasters are major causes of uncertainty. Based on traditional international business and finance theories, we re-examine the relationship between risk and internationalization. We find evidence that diversification helps reduce risk.•We introduce natural disasters to mainstream...

The Covid-19 pandemic exposed the fragility of global supply chains. Attempts to deepen our understanding of the effects of the pandemic on global supply chains mostly offer anecdotal evidences and lack theory grounded research. The purpose of this paper is to develop a conceptual framework to...