Equity Ownership Strategy in Greenfield Investments : Influences of Host Country Infrastructure and MNE Resources in Emerging Markets

This chapter addresses equity ownership strategy in greenfield investments by multinational enterprises (MNEs) in the emerging markets (EMs). It is one of the few studies to hypothesize and analyze influences of host EM physical infrastructure in relation to investment decisions of MNEs. We use resource dependence theory (RDT) as a theoretical basis and test the moderating effects of firm resources like size and host country investment experience. Moreover, the current study assumes a more nuanced approach to studying equity ownership by analyzing wholly owned subsidiaries versus joint ventures (JVs) and including majority versus minority JVs in the analysis as well. The empirical results based on greenfield investments undertaken by Nordic (Danish, Finnish, Norwegian, and Swedish) MNEs in EMs during 1990–2015 reveals the importance of host country physical infrastructure for high equity ownership strategy. Moreover, host country investment experience moderates the effect of physical infrastructure on equity ownership strategy. Finally, the analysis of a sub-sample of greenfield JVs reveals that determinants of equity ownership strategy differ somewhat between greenfield JV or greenfield wholly owned subsidiaries (WOS).© The Author(s) 2019.fi=vertaisarvioitu|en=peerReviewed

Aetiology of the Lumbar Spinal Stenosis in Black Africans: Intraoperative Observations

Background & Aim: Lumbar spinal stenosis (LSS) is a common condition. This congenital or acquired stenosis has multiple etiologies. The goal of this study was to describe intraoperative pathoanatomic findings of lumbar spinal stenosis observed within a black African population. Methods & Materials/Patients: It was a retrospective and descriptive study performed at Departmental Teaching Hospital of Borgou in Republic of Benin (West Africa) from January 2008 to June 2014. All black African patients who underwent surgery for LSS were included. Intra operative aetiologies were recorded. Patients with extruded lumbar discopathy were excluded. Results: During study period, 199 patients were selected. It was 109 men (54.8%) and 90 women (42.2%). Patients mean age was 53.2 years ± 10.96, mean weight 77.11kg ± 14.37 and mean height 171 cm ± 8.64cm. The LSS was acquired in 157 patients (78.9%), congenital in 29 (14.6%) and in 13 cases (6.5%) it was mixed origin. A hypertrophyof ligamentum flavum was observed in 101 patients (50.8%), zygapophyseal joint hypertrophy in 15 cases (7.2%) and in 74 cases (37.2%) the two factors were associated. A disc bulge were observed in 9 cases (4.5%).  Conclusion: The ligamentum flavum hypertrophy is the main cause of LSS in black Africans. Studies to determine the mechanism of hypertrophy will be useful in order to initiate preventive treatment