How Do MNEs and Domestic Firms Respond Locally to a Global Demand Shock? Evidence from a Pandemic

The authors thank the department editor (Joshua Gans), anonymous associate editor, and anonymous reviewers for insightful feedback and guidance throughout the review process. The authors also thank Sumit Agarwal, Shengmao Cao, Andrew Delios, Javier Gimeno, David Glough, Maria Guadalupe, Pinar Karaca-Mandic, Jiao Luo, Daniel Mack, Ishtiaq Pasha Mahmood, Anita McGahan, Ram Mudambi, Arijit Mukherjee, Abhishek Nagaraj, Siddharth Natarajan, Lamar Pierce, Ivan Png, Phanish Puranam, Soumya Sen, Devanshee Shukla, Jasjit Singh, Kulwant Singh, Kingshuk Sinha, and Yanbo Wang, as well as the seminar attendees at INSEAD, the Indian Institute of Management Bangalore, the Carlson School of Management’s Healthcare Analytics Mini Symposium, and the India Research Forum, for feedback and suggestions on earlier versions of the paper. Additionally, the authors thank the All India Organization of Chemists and Druggists for providing data on vaccine sales. An earlier version of this paper was awarded the “That’s Interesting!” prize at the Academy of International Business 2020 Annual Meeting and was a finalist for the Best Paper prize and the Best Research Methods Paper prize at the Strategic Management Society 2019 Annual Meeting.