7.2. Theoretical extensions for future research
Our study lends itself to at least three directions for future theorizing, namely contextual boundary conditions, interaction effects, and differences across different types of players. First, we have argued that the BTF is particularly relevant to analyzing competition in emerging economies, due to the high environmental volatility and intensive competition. Moreover, we have suggested that leader strategic competences are relevant in contexts of high-power distance combined with high uncertainty, economic growth and competition. These arguments invite further theorizing regarding the contextual boundary conditions, or contextual moderators. For example, future research may investigate contextual variables at the level of industries and geographies that may moderate the effects in our model