Different countries have different institutional environments. In this way, multinational companies must deal with the difficulties imposed by the differences between their home environment and that of the country where they are inserted. In this article, we analyze the effects of institutional distance on South-South acquisitions. Specifically, we analyze the effect of institutional distance on the amount of participation chosen in Latin American international acquisitions in Brazil. More specifically, the effect of institutional distance is analyzed through the percentage of shares acquired in international acquisitions. Our results contribute to the theory in international business because it explains why Latin American companies prefer to make total acquisitions even in situations of high institutional distances.

PurposeCultural distance can be a challenge for internationalization. However, in some instances, it is possible that different cultures could represent a benefit for multinational enterprises (MNEs) from emerging contexts. Drawing on the knowledge-based view (KBV), the authors propose that greater cultural distances lead to benefits for multinationals seeking to absorb new knowledge overseas.Design/methodology/approachThe authors performed ordinary least squares regressions with moderation tests over a database containing 101 cross-border acquisitions to test the study’s hypotheses. The acquisitions were performed by Brazilian firms between 1995 and 2015, targeting 24 host countries.FindingsThe study’s results indicate that cultural distance positively affects the firm's post-acquisition performance and that absorptive capacity moderates these results, improving the positive effect. The study suggests that cultural diversity is an asset for the multinationals in question.Practical implicationsWhen deciding to invest in a foreign country, managers should consider this cultural diversity as one more value creation driver, especially if the firm has well-developed innovation capabilities.Originality/valueThe study’s findings contribute to the international business literature providing further evidence that emerging markets multinationals can create value in acquisitions through the firm's abilities to exploit cultural asymmetries. Thus, the authors also emphasize that absorptive capacity plays a strategic role in multinational's international strategies.

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Resumo Introdução A tomada de decisão, num ambiente complexo como de uma UTI pode sofrer diversas interferências e ocasionar a alta precoce de um paciente para um setor de menor complexidade. Objetivo Objetiva-se analisar o perfil de pacientes que foram readmitidos, em menos de 24 horas, na UTI de um hospital privado. Método Esta análise foi realizada por meio do método de correspondências múltiplas, utilizando-se um corte longitudinal, e os dados foram extraídos do sistema Epimed. Resultados Os resultados apontam que o perfil de readmissão se caracterizou pelos pacientes do sexo feminino, com idades entre 0 e 30 anos. A origem desses pacientes é do tipo clínica com diagnóstico predominantemente cardiológico e hematológico. Esse achado pode auxiliar na prevenção da reinternação, visto que os dados interferem no indicador de qualidade do setor, podendo, assim, definir estratégias e meios para minimizar a reinternação. Conclusão Conclui-se, a partir do perfil de pacientes que foram readmitidos na UTI em menos de 24, que há necessidade de cuidado especial para pacientes jovens, do sexo feminino e com diagnóstico cardiológico e hematológico. Esses resultados servem de apoio à tomada de decisão da alta dos pacientes.

Purpose of the study: To analyze the effects of the public policies carried out by the Brazilian government on the attraction of foreign direct investment.Methodology/approach: Exploratory and quantitative study uses of multiple linear regression models.Originality / Relevance: In this study we show the political-economics influences on foreign investment strategies, pointing out which policies have affected the attraction of FDI in Brazil.Main Results: The results show that the Plano Real, COPOM and PAC were the most successful public policies on attracting foreign direct investment in the period of the study.Theoretical / methodological contributions: Public policies influence foreign investment in Brazil. Specifically, the study shows that policies aimed at economic and institutional stability are the most important factors for attracting FDI.Keywords: Institutions. Brazilian Public Policy. FDI