31 research outputs found

    Greenfield or Acquisition Entry: A Review of the Empirical Foreign Establishment Mode Literature

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    This paper reviews the empirical literature on the determinants of the choice by multinational enterprises between entering foreign countries through greenfields or acquisitions. We discuss and compare the main theoretical perspectives used, provide a detailed overview of the empirical findings, examine why these findings have often been inconsistent, and offer theoretical and methodological suggestions to guide future research

    Leveraging Asian institutions to deepen theory: A transaction cost perspective on relational governance

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    Is guanxi China-specific? Will it wane as China develops? I look at guanxi as a relation-based way to enforce transactions, and argue that it is a type of external hybrid used whenever the output constraints of market transactions must be supplemented by some behavior constraints. Drawing on transaction cost and network theories and on the new institutional economics and private ordering literatures, I specify the advantages and drawbacks of guanxi. I conclude that it is not China-specific and that it will survive further improvements in Chinese market and judicial institutions, although its scope will be somewhat reduced

    Post-bariatric surgery changes in quinolinic and xanthurenic acid concentrations are associated with glucose homeostasis

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    Background: An increase of plasma kynurenine concentrations, potentially bioactive metabolites of tryptophan, was found in subjects with obesity, resulting from low-grade inflammation of the white adipose tissue. Bariatric surgery decreases low-grade inflammation associated with obesity and improves glucose control. Objective: Our goal was to determine the concentrations of all kynurenine metabolites after bariatric surgery and whether they were correlated with glucose control improvement. Design: Kynurenine metabolite concentrations, analysed by liquid or gas chromatography coupled with tandem mass spectrometry, circulating inflammatory markers, metabolic traits, and BMI were measured before and one year after bariatric surgery in 44 normoglycemic and 47 diabetic women with obesity. Associations between changes in kynurenine metabolites concentrations and in glucose control and metabolic traits were analysed between baseline and twelve months after surgery. Results: Tryptophan and kynurenine metabolite concentrations were significantly decreased one year after bariatric surgery and were correlated with the decrease of the usCRP in both groups. Among all the kynurenine metabolites evaluated, only quinolinic acid and xanthurenic acid were significantly associated with glucose control improvement. The one year delta of quinolinic acid concentrations was negatively associated with the delta of fasting glucose (p = 0.019) and HbA1c (p = 0.014), whereas the delta of xanthurenic acid was positively associated with the delta of insulin sensitivity index (p = 0.0018). Conclusion: Bariatric surgery has induced a global down-regulation of kynurenine metabolites, associated with weight loss. Our results suggest that, since kynurenine monoxygenase diverts the kynurenine pathway toward the synthesis of xanthurenic acid, its inhibition may also contribute to glucose homeostasis.12 page(s
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