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culture, informal institutions and formal institutions. This is further supported by recent developments in the theory of …
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organizations. A closer look at transaction cost economics (TCE)/internalization theory, evolutionary theory and dynamic capability … theory reveal a bias toward MNE supremacy because of how MNEs are conceptualized as firms and therefore fail to explain the …
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That institutions matter is widely accepted among economists and so are social norms as an important category of informal institutions. Social norms matter in many economic situations, but in particular for markets. The economic literature has studied the interrelation between markets and social...
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