The process of starting and surviving a new venture is always a challenge, and this is aggravated by unfavorable conditions especially prevalent in less affluent, developing, and transitional economies. This study reviews and integrates the literature on different entrepreneurial dimensions in transitional economies and provides a case analysis, Kyrgyzstan. The review of the entrepreneurial motivations dimension indicated four major motives behind starting a new venture, and an examination of the entrepreneurial problems dimension underlined common problems prevalent in different transitional economies. Findings of the Kyrgyz case indicated that the entrepreneurial motives of local entrepreneurs are of the extrinsic type and related to push factors; difficulty with finding capital, existence of red tape, and high labor turnover rate are major entrepreneurial problems. There are favorable entrepreneurial opportunities in general, but exploitation of these is contingent on appropriate support. Based on the literature review and synthesis as well as the case study, transitional economies need more competitive, liberal, and transparent business environments to be supported by more developed financial systems and a more efficient labor force. Further, two future research areas on transitional economies are suggested and an update on Kyrgyzstan is included.

If you would like to write for this, or any other Emerald publication, then please use our Emerald for Authors service information about how to choose which publication to write for and submission guidelines are available for all. Please visit www.emeraldinsight.com/authors for more information. About Emerald www.emeraldinsight.comEmerald is a global publisher linking research and practice to the benefit of society. The company manages a portfolio of more than 290 journals and over 2,350 books and book series volumes, as well as providing an extensive range of online products and additional customer resources and services.Emerald is both COUNTER 4 and TRANSFER compliant. The organization is a partner of the Committee on Publication Ethics (COPE) and also works with Portico and the LOCKSS initiative for digital archive preservation. AbstractPurpose -The purpose of this paper is to add to the significant contributions of past research by assessing what the overall effectiveness of managerial training has been over a period of 50 years and by identifying changes in overall effectiveness during this time period. Additionally, this study aims to evaluate what the overall findings on the effectiveness of training has been based on study design and subgroups focusing on the equivalent of Kirkpatrick's famous learning, behavior, and results outcomes. Design/methodology/approach -This study quantitatively integrates and extends the literature on management training through a meta-analytic procedure. The resulting sample of past research includes studies from the time period between 1952 and 2002, representing 85 interventions and 4,779 subjects. Findings -The results do not suggest a great deal of improvement in the effectiveness of managerial training from 1952 through 2002 and effect sizes have remained moderate. Additionally, outcome subgroup appears to moderate results. Specifically, programs implemented to achieve learning outcomes tended to have the largest effect sizes and were consistently significant relative to programs targeted at behavior and results outcomes.Research limitations/implications -The implications are directly related to the selection of evaluation methods for future studies assessing the effectiveness of managerial training programs. This implication is important to both the academic community and practitioners. The limitations of this study include the possible exclusion of past research and the heterogeneity of assessment methods used in past research, beyond the broad categories of objective and subjective assessment. Originality/value -In addition to identifying the moderating effect of outcomes being measured, the main contribution of this study is that it covers a large time period. As a result, the analysis offers a more expanded view of managerial training over time.

This paper attempts to fill the knowledge gap in the area of foreign direct investment (FDI) research in the regions of Caucasus and Central Asia. Various dimensions of FDI were analyzed from a comparative perspective drawing on a number of selected case studies of inward investors in Georgia and Kyrgyz Republic. The results indicated that the FDI activity in Georgia and Kyrgyz Republic was a market‐seeking type focusing heavily on location‐specific attractions of the two countries. Although the issue of corruption affects foreign investors, it does not act as a major deterrent of FDI infl ows. The most serious problem influencing the performance of FDI firms was found to be inefficiency of local labor force, excessive bureaucracy and red tape, and differences inherent in the business practices of host countries. In general, however, it was found that foreign investors have been satisfied with their performance largely due to the relatively smooth competition and the availability of several market niches in both host country markets.

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