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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...
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importance of firm-level productivity and distance-related transaction costs as driving forces of FDI. Yet the timing of FDI has … uncertainty. Likewise, distance-related transaction costs discourage FDI by latecomers considerably less than FDI by early movers …. -- Multinational enterprises ; firm-level productivity ; distance ; timing of FDI …
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