Cultural distance (CD) is an important driver of foreign expansion strategy at the firm level. However, its effects can be more or less significant depending on the contextual characteristics of the host country, such as the quality of formal institutions and the openness to international trade....

By focusing on the tacit and explicit characteristics of informal and formal institutional distances, this study investigates the competitive advantage of foreign subsidiary firms from developed countries and emerging markets operating in Latin America. Following recent research on distances in...

Chapter 1. Introduction -- Chapter 2. Point of Departure -- Chapter 3. Actor Specificities and the Types of Economic Organization -- Chapter 4. Transcending Borders and Institutional Dynamics -- Chapter 5. Conflating Capitalisms: Western MNCs in Latin America -- Chapter 6. The Action Situation...

Regionalization of operations is a trend among multinationals. Regional structures bridge the distance between the corporate headquarters and local subsidiaries and markets by acting as integral intermediaries. A growing number of multinationals from emerging markets establish their regional...