"The COVID‐19 pandemic has given rise to various predictions on the future shape of Global Value Chains (GVCs). The pandemic is an exogenous shock of uncommon magnitude imposed on firms with international commercial linkages, including large multinational enterprises (MNEs), small and medium‐sized firms, new ventures, and their supply chain partners. Empirical research in a variety of management disciplines will investigate the pandemic's effects on these firms, as well as their strategic responses. Research will also permit assessing the continued relevance of extant international business (IB) theory, and the possible need to revisit mainstream theorizing in the post‐pandemic world."

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