Abstract
Purpose: Despite heightened geopolitical tensions in the current global business environment, a comprehensive understanding of geopolitical risk has remained understudied in international business literature. Accordingly, this paper seeks to synthesize and analyse existing research on the interface of geopolitical risk and international business activities, aiming to identify theoretical/methodological gaps and areas of future research.
Methodology: Through a systematic literature review method, this study critically evaluates 138 peer-reviewed articles published in a sample of twenty-nine leading journals between 1990 and 2025.
Findings: This review paper provides novel research avenues around three key themes. First, it highlights the complexity and implications of competing geoeconomic blocs and multi-polar geo-strategies for MNEs’ activities. Second, it emphasises the importance of non-market strategies as tools of mitigating geopolitical risk and multi-actor global threats. Third, the paper explores how the extraction and international trade of natural resources turn into seminal factors of growing geopolitical tensions.
Originality: Moving beyond home-host conflict unit of analysis, this study considers MNEs' activities in an emerging and dynamic geo-economic context of competing and collaborative geo-economic groups, supply chains, and trade corridors. Accordingly, the findings advance both theoretical and practical understandings of international business practices in a fragmented business environment.
Practical implications: This study suggests a variety of methodological tools to assist IB researchers and policymakers in identifying ways to mitigate emerging risks stemming from shifting geographies and international political conflicts.
Methodology: Through a systematic literature review method, this study critically evaluates 138 peer-reviewed articles published in a sample of twenty-nine leading journals between 1990 and 2025.
Findings: This review paper provides novel research avenues around three key themes. First, it highlights the complexity and implications of competing geoeconomic blocs and multi-polar geo-strategies for MNEs’ activities. Second, it emphasises the importance of non-market strategies as tools of mitigating geopolitical risk and multi-actor global threats. Third, the paper explores how the extraction and international trade of natural resources turn into seminal factors of growing geopolitical tensions.
Originality: Moving beyond home-host conflict unit of analysis, this study considers MNEs' activities in an emerging and dynamic geo-economic context of competing and collaborative geo-economic groups, supply chains, and trade corridors. Accordingly, the findings advance both theoretical and practical understandings of international business practices in a fragmented business environment.
Practical implications: This study suggests a variety of methodological tools to assist IB researchers and policymakers in identifying ways to mitigate emerging risks stemming from shifting geographies and international political conflicts.
| Original language | English |
|---|---|
| Number of pages | 24 |
| Journal | Multinational Business Review |
| Early online date | 20 Jan 2026 |
| DOIs | |
| Publication status | E-pub ahead of print - 20 Jan 2026 |
Keywords
- Geopolitical Risk
- Multipolar Environment
- Multinational Enterprises
- Natural Resources
- Diplomacy
- Conflict