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....

This book uses the technological capability framework advanced by evolutionary economists to examine the contribution of foreign firms to technological capability building in the developing economies with a focus on South Africa, Kenya, Uganda, Brazil, Costa Rica, Malaysia and Indonesia. The...

We investigate how formal institutional distance (FID) moderates the cultural distance (CD) and financial performance relationships of foreign subsidiaries of firms. Following recent research, we estimate the asymmetric effects of CD by considering its size and direction towards host countries...