Soogand Golsorkhi

• Golesorkhi, Soogand; Pishchulov, Grigory & Randøy, Trond (2026). Word of Investment: The Role of Language as an Institution in FDI. MIR. Management International Review: journal of international business. ISSN 0938-8249. doi: 10.1007/s11575-026-00635-6. Fulltekst i vitenarkiv Vis sammendrag

  This study draws on institutional economics and communicative institutionalism to conceptualise language as an institution which comprises socially shared rules and meanings that govern human interaction and affects country-level foreign direct investment (FDI). Specifically, shared language governs interpretation and coordination in cross-border investment relationships, thereby reducing behavioural and environmental uncertainty. In turn, language differences weaken this institutional function of language. To test this hypothesis, we employ a gravity model of 87,209 bilateral FDI observations comprising equity and debt positions across 246 countries and territories from 2010 to 2019. We find that greater language differences are associated with lower bilateral FDI stocks. We further show that formal institutional proximity and cultural proximity mitigate this negative association, offering alternative mechanisms for uncertainty reduction when language differences are large. In addition, language difference from English is negatively associated with FDI for both source and host countries. Overall, the study demonstrates that language functions as a key institutional determinant of FDI, extending language-sensitive IB research and institutional explanations of cross-border investment.

• Pishchulov, Grigory; Richter, Knut & Golesorkhi, Soogand (2022). Supply chain coordination under asymmetric information and partial vertical integration. Annals of Operations Research. ISSN 0254-5330. doi: 10.1007/s10479-022-04705-4. Fulltekst i vitenarkiv

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• Golesorkhi, Soogand; Flåten, Bjørn-Tore & Aalmo, Giovanna Ottaviani (2025). A best practice guideline including the best practices coming from the 3 pilot regions. doi: https:/ec.europa.eu/research/participants/documents/downloadPublic?documentIds=080166e5280c8c2d&appId=PPGMS. Fulltekst i vitenarkiv Vis sammendrag

  Coastal communities are grappling with challenges from the climate crisis, rural depopulation, and economic pressures. The BlueRev initiative addresses these issues by empowering coastal communities, reimagining policy frameworks and fostering adaptable governance structures. BlueRev aims to drive social and environmental impact within local communities across pilot regions (Denmark/Greenland, Italy, Estonia) by establishing sustainable and socially responsible business models in the blue bio-based sector. This report highlights best practices from pilot regions in fish by-products valorisation, showcasing innovative business models in Greenland, Denmark, Estonia, and Sicily. • Greenland: Transforming fish processing waste into dog food. • Denmark: Developing an Omega-3 enriched functional beverage. • Estonia: Utilizing red algae for nutraceutical and cosmetic applications. • Sicily: Promoting the sustainable valorisation of by-catch, specifically The Ritunnu. The guidelines developed in this report will serve as a foundation for scaling these practices within the blue bioeconomy and beyond. They provide practical, actionable steps for implementing sustainable business models and are intended to support future efforts to expand the adoption of circular economy principles in the blue bio-based sector

• Golesorkhi, Soogand; Randøy, Trond & Pishchulov, Grigory (2025). Word of Investment: The Role of Language as an Institution in Shaping FDI Stock. Fulltekst i vitenarkiv
• Grande, Simona; Golesorkhi, Soogand & Flåten, Bjørn-Tore (2025). From Sea to Sustainability: Transitioning the Blue Bioeconomy through Responsible Design Thinking and the Sustainable Business Model Canvas. Fulltekst i vitenarkiv
• Grande, Simona; Golesorkhi, Soogand & Flåten, Bjørn-Tore (2025). BlueRev: Pioneering Circular Bioeconomy Solutions for Sustainable Marine Innovation. Fulltekst i vitenarkiv
• Golesorkhi, Soogand & Kirkedam, Frode (2022). BlueRev Deliverable - New business models: Unlocking Sustainable Business Model Innovations in the Blue Bio-based Industry. Bluerev project. doi: https:/ec.europa.eu/research/participants/documents/downloadPublic?documentIds=080166e5194ca0aa&appId=PPGMS. Fulltekst i vitenarkiv Vis sammendrag

  The main purpose of this deliverable is to describe the process and outcomes of participatory sessions aimed at co-creating sustainable business models within the blue bioeconomy. These sessions, conducted across pilot regions in Estonia, Italy, Greenland, and Denmark, were designed to build on opportunities identified in earlier stages of the BlueRev project, in WP3. Through co-creation workshops, interviews, and focus groups, a diverse range of stakeholders—including localbusinesses, government representatives, researchers, and civil society—collaborated to tailor business models that leverage local capacities while addressing region-specific challenges and opportunities. The participatory sessions were structured using the Sustainable Business Model Canvas, underpinned by design thinking methodologies. This approach fostered a dynamic and iterative process, enabling stakeholders to explore innovative solutions and refine their ideas collaboratively. The workshops emphasized empathy and stakeholder inclusivity, ensuring that the co-created models were both practical and aligned with local needs. The process involved systematically defining value propositions, identifying customer segments, and addressing key operational and ecological components such as resource utilization, eco-costs, and eco-benefits. This holistic approach ensured that the proposed business models were not only economically viable but also environmentally and socially sustainable. The deliverable outlines diverse outcomes across the pilot regions. In Estonia, models focused on macroalgae cultivation and integrated multi-trophic aquaculture, promoting marine spatial efficiency and nutrient management. Italy’s initiatives emphasized the valorization of seafood by-products into high-value products like shrimp powder and Omega-3 oils. Greenland and Denmark prioritized advanced freezing techniques, cod side-stream valorization, and nutrient recovery from wastewater. These models highlight the potential of sustainable practices to drive local economic development while contributing to global sustainability goals. The insights gained will serve as a foundation for scaling these practices and developing best-practice guidelines in subsequent project phases as part of WP4.

• Golesorkhi, Soogand & Kirkedam, Frode (2022). Business models analysis - Report from BlueRev-project. Bluerev project. doi: https:/ec.europa.eu/research/participants/documents/downloadPublic?documentIds=080166e51549ab30&appId=PPGMS. Fulltekst i vitenarkiv Vis sammendrag

  This deliverable provides a detailed analysis of the current business models within the pilot regions, with a particular focus on the core operations and byproducts of the blue bio-based sector. Insights were gathered through structured interviews, workshops, and focus groups, building on the protocols and results outlined in D3.1 and D3.2. The analysis is structured in two key steps: 1. Baseline Model Analysis: A comprehensive review of data from D3.1 and D3.2 to define the baseline model. 2. Current Business Model Assessment Using the Business Model Canvas Framework: Categorization of findings within the Business Model Canvas framework, offering a detailed explanation of its indicators and opportunities and challenges for sustainable business development. This process highlights areas for improvement and serves as a foundation for assessing and developing new sustainable business models within the blue bio-based sector across the three pilot regions of the BlueRev project. These findings form a critical input for D4.2, helping to bridge the gap between current practices and future opportunities for sustainable innovation within the blue bio-based sector. The deliverable also lays the groundwork for future activities in WP4, including workshops and interviews. Initial findings from D3.2 emphasize the need for more granular data to explore untapped potential in the blue bio-based sector. This need will be addressed through participatory sessions planned under WP4, ensuring an inclusive approach to identifying, refining, and scaling sustainable business innovations.

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