An institutional perspective on retail internationalization success: Home Depot in Chile

This study utilizes institutional theory to assess the effect of the host institutional environment on the success of internationalizing retailers. According to this framework, retailers succeed in international markets when they adapt their retail format and practices to the salient institutional norms in the host market and achieve legitimation from the relevant social actors. This framework was used in a case study of Home Depot’s entry into Chile in 1998 and its exit three years later. Findings showed that Home Depot lacked legitimacy in Chile because they failed to offer the range of merchandise and store atmosphere demanded by the traditional family shopping activity, and because their management team did not embed themselves in the broader social network. It was also apparent the competition had anticipated and responded to Home Depot’s source of competitive advantage and that Home Depot’s scale was not great enough to command any advantages in the supply chain network

Antecedents of consumer brand loyalty in the Chilean wine industry

The wine industry has become fiercely competitive worldwide, and consumers are increasingly exposed to a wider range of wines in retail outlets. Therefore, wineries need to develop and build consumer loyalty toward their brands. The authors empirically test a model of wine brand loyalty in a Latin American context which considers wine brand trust, brand satisfaction, wine knowledge and wine experience as antecedents. Hypotheses are tested with structural equation modeling (SEM). Findings show that wine experience is positively related to brand trust and brand satisfaction. In addition, results show that consumer satisfaction with a wine brand is the strongest driver of brand loyalty

Landscape Boolean Functions

In this paper we define a class of Boolean and generalized Boolean functions defined on $\mathbb{F}_2^n$ with values in $\mathbb{Z}_q$ (mostly, we consider $q=2^k$), which we call landscape functions (whose class containing generalized bent, semibent, and plateaued) and find their complete characterization in terms of their components. In particular, we show that the previously published characterizations of generalized bent and plateaued Boolean functions are in fact particular cases of this more general setting. Furthermore, we provide an inductive construction of landscape functions, having any number of nonzero Walsh-Hadamard coefficients. We also completely characterize generalized plateaued functions in terms of the second derivatives and fourth moments.Comment: 19 page

International propagation of shocks: an evaluation of contagion effects for some Latin American countries

In this paper we analyze the spread of shocks across assets markets in eight Latin-American countries. First, we measure the extent of markets reactions with the Principal Components Analysis. And second, we investigate the volatility of assets markets based in ARCH-GARCH models in function of the principal components retained in the first stage. Our results do not support the existence of financial contagion, but of interdependence in most of the cases and a slight increase in the sensibility of markets to recent shocks.assets markets, financial contagion, interdependence

Cooperation through Imitation and Exclusion in Networks

We develop a simple model to study the coevolution of interaction structures and action choices in Prisoners’ Dilemma games. Agents are boundedly rational and choose both actions and interaction partners via payoff-based imitation. The dynamics of imitation and exclusion yields polymorphic outcomes under a wide range of parameters. Depending on the parameters of the model two scenarios can arise. Either there is “full separation” of defectors and cooperators, i.e. they are found in two different, disconnected components. Or there is “marginalization” of defectors, i.e. connected networks emerge with a center of cooperators and a periphery of defectors. Simulations confirm our analytical results and show that the share of cooperators increases with the speed at which the network evolves, increases with the radius of interaction and decreases with the radius of information of agents.Game Theory, Cooperation, Imitation Learning, Network Formation