Institutional distance and foreign subsidiary performance in emerging markets: moderating effects of ownership strategy and host-country experience

Institutional distance has been known to be an important driver of Multinational Enterprises’ strategies and performance in host countries. Based on a large panel dataset of 10562 firms operating in 17 emerging markets and spanning 80 home countries, we re-examine the relationship described by Gaur and Lu (2007) between regulatory institutional distance and subsidiary performance. We extend this research by (1) examining this relationship in the context of emerging markets, (2) examining the moderating effects of ownership strategy and host-country experience within the context of emerging markets and (3) accounting for a greater variety of institutions by including a large number of home and host countries. We find that institutional distance negatively affects subsidiary performance in emerging markets. Our findings also show that the negative effects of institutional distance on subsidiary performance are lesser for subsidiaries with partial ownership (than for subsidiaries with full ownership) and for subsidiaries with greater host-country experience. We discuss our findings with respect to Gaur and Lu’s model, which explores the relationships between these variables in a general context

ЦУКРОВИЙ ДІАБЕТ 2 ТИПУ ТА ЙОГО КОМОРБІДНІСТЬ

Summary. Diabetes is a complex health problem that has caused international concern over the past few decades. The aim of the study – to analyze the literature sources  on comorbid pathologies that are combined with the type 2 diabetes mellitus (T2DM). Materials and Methods. Scientific publications for the last decade was examined in the study, which are available in the Internet, the key words were “type 2 diabetes mellitus”, “comorbidity”, “concurrent diseases”. Results. Multimorbidity, presence of two or more chronic diseases [8], is characteristic for patients with T2DM, which makes multimorbidity an important clini­cal priority in this population. Because of similar risk factors such as obesity, endothelial dysfunction, vascular inflammation and dyslipidemia, patients with T2DM have higher risk of cardiovascular complications, kidney disease and hypertension. Patients with T2DM have also higher risk of depression, gastrointestinal disease, thyroid disease, and chronic obstructive pulmonary di­sease. T2DM is closely associated with overweight and low physical activity. Another complication of T2DM is erectile dysfunction. Although most of the scientific lite­rature highlights development of T2DM in patients with pancreatitis, there is an inverse relations: exocrine insufficiency of the pancreas is found in 35 % of patients with T2DM. In addition, high level of vitamin D deficiency is another factor associated with both obesity and type 2 diabetes mellitus. Conclusions. Analysis of literature sources indicates significant prevalence of comorbidity in patients with type 2 diabetes mellitus, which justifies the necessity of more detailed and comprehensive study of the mechanisms of combined pathology, peculiarities of course, methods of precaution, treatment and prevention of complications.Резюме. Цукровий діабет є складною проблемою охорони здоров’я, яка за останні кілька десятиліть викликає занепокоєння міжнародного рівня. Мета дослідження – проаналізувати літературні джерела щодо коморбідних патологій, які поєднано перебігають з цукровим діабетом 2 типу (T2DM). Матеріали і методи. У дослідженні опрацьовано наукові публікації за останнє десятиліття, які доступні у мережі «Інтернет», ключовими словами були: «цукровий діабет 2 типу», «коморбідність», «супутні захворювання». Результати. Мультиморбідність, наявність двох або більше хронічних захворювань, є характерним для пацієнтів з T2DM, що робить мультиморбідність у цій популяції важливим клінічним пріоритетом. Через схожі фактори ризику, такі, як ожиріння, ендотеліальна дисфункція, запалення судин та дисліпідемія, хворі на T2DM мають більш високий ризик серцево-судинних ускладнень, хвороб нирок та гіпертензії. Також у пацієнтів із T2DM встановлено більш високий ризик депресії, захворювань шлунково-кишкового тракту, щитоподібної залози та хронічного обструктивного захворювання легень. T2DM тісно пов’язаний із надмірною масою тіла та низькою фізичною активністю. Ще одним ускладненням T2DM є еректильна дисфункція. Хоча більшість наукової літератури присвячена розвитку T2DM у хворих на панкреатит, існує й зворотна залежність: екзокринна недостатність підшлункової залози виявляється у 35 % хворих на T2DM. Крім того, високий рівень дефіциту вітаміну D є ще одним фактором, пов’язаним як із ожирінням, так і з діабетом 2 типу. Висновки. Аналіз літературних джерел свідчить про значну поширеність коморбідності у хворих на цукровий діабет 2 типу, що обґрунтовує необхідність детальнішого й всебічного дослідження механізмів розвитку поєднаної патології, особливостей перебігу, методів профілактики, лікування та попередження ускладнень

New Laboratory-Based Satellite Impact Experiments for Breakup Fragment Characterization

No abstract availabl

Conceptualizing and measuring distance in international business research:Recurring questions and best practice guidelines

Distance is a central concept in international business research, yet there is debate about the construct as well as its operationalization. In this editorial, we address three of the most important recurring questions posed by authors, editors, and reviewers by examining the theory, methods, and data of distance research. We discuss (1) how to theorize on distance, and (2) what method and (3) what data to use when constructing a distance index. We develop practical recommendations grounded in theory, illustrating and supporting them by calculating cross-country distance indices for all available country pairs and two of the most used distance indices: cultural and institutional. We show that, whereas a specific method to calculate distance may matter to some extent, the choice for a specific cultural or institutional framework to measure cultural or institutional distance has a major impact on country-pair distances. Overall, this editorial highlights the importance of matching data and method to the theoretical argument.</p

Results of Work of the Rospotrebnadzor SAET on the Provision of Sanitary Epidemiological Welfare of the Population during the Summer Health-Promotion Campaign, 2014 in the Crimean Federal District

Integration of the Crimean Federal District (CFD) into the Russian Federation in March, 2014 predetermined the necessity to organize preventive activities, aimed at the provision of sanitary epidemiological welfare in the region. The paper observes the results of work of the specialized anti-epidemic teams, affiliated to the Stavropol Research Anti-Plague Institute and Russian Research Anti-Plague Institute “Microbe”, on the provision of assistance to CFD Sanitary Epidemiological Service (SES) in operational etiological investigation of infectious diseases outbreaks. Performed is the laboratory analysis of 2407 clinical and environmental samples. 676 tests out of 11518 have showed positive (non-standard) results. Given are the recommendations concerning optimization of work of the CFD SES facilities

Performance of the SAET of the Stavropol Anti-Plague Institute of the Rospotrebnadzor during the XXII Olympic and XI Paralympic Winter Games in Sochi

Given is a general overview of the SAET performance during the XXII Olympic and XI Paralympic Winter Games, 2014 in Sochi. Discussed are the peculiarities of work management of the SAET diagnostic facilities; represented are the data on the structure and scope of laboratory investigations of clinical material and environmental samples. Analyzed is the experience of operation under major international mass event. Consequently, it is concluded that current SAET structure, its stuffing and equipping, the laid-up stock of preparations and test-systems have allowed for coping with a diverse task complex in the laboratory diagnostics of infectious diseases and indication of their agents

Desempenho de fusões e aquisições cross border: análise empírica do caso brasileiro

This study aims to investigate whether the cross-border acquisitions made by Brazilian companies over the past 15 years have improved their financial performance. Drawing on Institutional, Socio-cultural and Organizational Learning theories, this study develops and empirically tests several hypotheses on the determinants of M&A performance. The results demonstrate that the cross-border acquisitions of Brazilian companies improve their financial performance. Financial performance tends to be positive if the cultural distance between the countries of the acquiring and acquired companies is low to medium and if the institutional context in which the acquired company operates is developed. We also find that the relationship between the previous experience of acquiring companies in international M&As and the performance of a new cross-border operation follows an inverted U shape. These findings suggest that studies on international M&As should include the M&A experience of the acquiring firm as well as the institutional characteristics of its target countries

Institutional distance and knowledge acquisition in international buyer–supplier relationships::the moderating role of trust

Institutional distance can generate expanded opportunities for multinational firms to facilitate learning and responsiveness. However, such distance can also create obstacles regarding knowledge transfer and integration. A theoretical puzzle concerns the mechanisms and conditions in which international buyers and suppliers can overcome institutional distance and acquire new knowledge. We develop an integrative moderated-mediation model in which institutional distance prevents parties from accessing knowledge but, when knowledge is obtained and mutual trust is developed, it promotes cross-border knowledge acquisition in international buyer-supplier exchange, particularly between international firms and firms from the Asia Pacific region. These findings indicate that firms can overcome the challenges of regulative and cognitive distance and facilitate access to knowledge and knowledge acquisition when they are able to develop and cultivate relationships of mutual trust with foreign partners. While normative distance may create learning incentives and opportunities in international buyer-supplier relationships, its impacts on knowledge accessibility and acquisition are insignificant.fi=vertaisarvioitu|en=peerReviewed

A conceptual view of internationalization strategies under dual institutional pressures for legitimacy and conformity

Internacionalizar as operações requer que as empresas multinacionais (EMNs) desenvolvam estratégias capazes de lidar, simultaneamente, com as pressões institucionais externas, para a legitimidade, e as pressões institucionais internas, para a conformidade. Neste artigo conceitual e baseado na literatura de teoria institucional em negócios internacionais, desenvolve-se um conjunto de proposições teóricas sobre quais as estratégias de entrada nos mercados externos seguidas pelas EMNs face aos ambientes institucionais. Com foco predominante no ambiente institucional externo e nas diferenças de desenvolvimento institucional, também aborda a relevância de considerar o ambiente interno. As estratégias de entrada tendem a ser baseadas em modos de baixo envolvimento e em parcerias, como joint ventures, para entrar em países institucionalmente imaturos ou institucionalmente mais distantes. As aquisições e as parcerias podem ser usadas se as pressões institucionais forem menores. Conclui-se com uma discussão geral e o apontamento de questões para pesquisas futuras.info:eu-repo/semantics/publishedVersio