This chapter reviews the literature of codes of good corporate governance, the set of best practice recommendations regarding the behavior and structure of board of directors of a firm. The review shows that a lot of research progress has been made in recent years, but there are still large gaps...

Our review of the literature on codes of good governance highlights the rapid spread of codes of good governance around the world and how academic research has lagged behind in analyzing this topic. Despite the criticism that the codes' voluntary nature limits their ability to improve governance...

We analyze learning-by-doing and how emerging market multinationals use it to upgrade their capabilities. Building on an in-depth case study, we present two novel arguments. First, we clarify the concept of learning-by-doing by identifying four distinct processes in which learning-by-doing...

We analyze how a firm's country of origin affects its investments in a host country. Viewing the country of origin as a resource, we explain the advantage (disadvantage) of foreignness, i.e., the relative benefit (liability) a subsidiary of a foreign firm enjoys over domestic firms when its...

I study the relationship between pro-market reforms and the expansion of emerging market multinational companies (EMNCs). Extending institutional economics, I propose a co-evolutionary process, whereby pro-market reforms in emerging markets induce the transformation of domestic firms into EMNCs,...