This paper relates cultural distance and governance structures. We suggest a model of cultural evolution that captures the idiosyncratic socialization dynamics taking place in groups of communicating and interacting agents. Based on these processes, cultural distance within and between groups or...

'Being international' has nearly become an undisputed aim for firms in a globalized world. Often, however, we do not know much about the actual performance consequences of firms' foreign market entries as well as exits. We apply a propensity score matching technique in combination with a...

Using comprehensive, shipment-level merchandise trade data, we examine the extent to which New Zealand exporters maintain stable New Zealand dollar prices by passing on exchange rate changes to foreign customers. We find that the extent to which firms absorb exchange rate fluctuations in the...

The view that profitability, not growth, is the main driving force behind the firm performance, and unprofitable high growth can not lead to financial success has often been discussed in the literature. In this study, I tested this hypothesis on Turkey’s top 1000 data using an extended version...

Economic literature has introduced large theories on critical role of micro and small firms (MSEs) in the economic development. Particularly in developing countries, the development of the sectore has become a channel of poverty reduction by providing job opportunities and creating welfares....

This paper by performing a bootstrapped Data Envelopment Analysis (DEA) tries to constitute to the existing literature by investigating if firms’ internationalization levels have an impact on their performance. Using a sample of ten Transnational corporations from South-East Europe the paper...

Using comprehensive, shipment-level merchandise trade data, we examine the extent to which New Zealand exporters maintain stable New Zealand dollar prices by passing on exchange rate changes to foreign customers. We find that the extent to which firms absorb exchange rate fluctuations in the...

This paper builds a new dataset on bank ownership and bank performance covering approximately 50,000 observations for 119 countries over the 1995-2002 period. The paper then uses the dataset to reassess the relationship between bank ownership and bank performance, providing separated estimations...

The aim of this study is to shed light on the factors which determine the post-entry performance of new firms. It is often argued that new firms are the driving force of structural changes and sometimes they are even characterized as an "engine" of economic growth. Nevertheless, the empirical...