A survey on institutions and new firm entry: How and why do entry rates differ in emerging markets?

Estrin, Saul; Prevezer, Martha

doi:10.1016/j.ecosys.2010.01.003

Cited by 45 publications

(24 citation statements)

References 46 publications

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“…This summary of the literature as well as our cases (Estrin & Prevezer, 2010) lead us to conclude that the informal institutions of corporate governance in India are substitutive-that they replace the largely ineffective formal legal framework and capital markets but have non-conflicting aims or goals with those of formal institutions. This applies mainly in those states where the rule of law, crime, and corruption are not so arbitrary as to create conflicting goals between the business groups and the formal legal framework.…”

Section: Indiamentioning

confidence: 99%

“…As Ahlstrom and colleagues quote "There's nothing to keep the [Chinese] Government from taking those private assets back … One year things are open and everyone can prosper; the next year the Government decides to collect everything for the state" Cao Si-yuan, senior adviser to former People's Republic of China General Secretary Zhao Ziyang. The perceived governance danger in China is (Estrin & Prevezer, 2010).…”

Section: Chinamentioning

confidence: 99%

“…Peng and Jiang (2006) provide evidence that concentrated ownership is beneficial for firm performance in cases where there are weaker or less developed legal and regulatory institutions to protect shareholders. (Estrin & Prevezer, 2010).…”

Section: Formal Corporate Governance Structures In Bric Countriesmentioning

confidence: 99%

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The role of informal institutions in corporate governance: Brazil, Russia, India, and China compared

2010

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This paper argues that the role of informal institutions as well as formal ones is central to understanding the functioning of corporate governance. We focus on the four largest emerging economies: Brazil, Russia, India, and Chinacommonly referred to as the BRIC countries. Our analysis is based on the Helmke and Levitsky framework of informal institutions and focuses on two related aspects of corporate governance: firm ownership structures and property rights; and the relationship between firms and external investors. We argue that for China and some states of India, "substitutive" informal institutions, whereby informal institutions substitute for and replace ineffective formal institutions, are critical in creating corporate governance leading to enhanced domestic and foreign investment. In contrast, Russia is characterized by "competing" informal institutions whereby various informal mechanisms of corporate governance associated with corruption and clientelism undermine the functioning of reasonably well set-out formal institutions relating to shareholder rights and relations with investors. Finally Brazil is characterized by "accommodating" informal institutions which get around the effectively enforced but restrictive formal institutions and reconcile varying objectives that are held between actors in formal and informal institutions.

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Section: Indiamentioning

confidence: 99%

Section: Chinamentioning

confidence: 99%

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The role of informal institutions in corporate governance: Brazil, Russia, India, and China compared

2010

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“…Again, one explanation may be the specificity of the market structure and investment climate, with relatively poor incentives to entry and modest entry rates (Estrin and Prevezer 2010). Again, one explanation may be the specificity of the market structure and investment climate, with relatively poor incentives to entry and modest entry rates (Estrin and Prevezer 2010).…”

Section: Losses From Monopoly In the National Model Of Abuse Of Dominmentioning

confidence: 99%

Competition Law Enforcement in the BRICS and in Developing Countries

2016

International Law and Economics

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“…BRIC refers to four developing countries (Brazil, Russia, India and China), all of which have experienced rapid economic growth in recent decades (Estrin and Prevezer, 2010). While the economy was depressed in many developed countries, BRIC's real GDP has continued to grow.…”

Section: Introductionmentioning

confidence: 99%

Location choices at the subnational level perspective: the case of the Volkswagen Group in BRIC countries

Ogasavara

Filho

2018

IJCM

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This study analyses the location choices of the Volkswagen Group (VWG) in BRIC countries built on entry and subsequent investments. Based on the internationalisation theories of the Uppsala model and the Eclectic Paradigm, this study performs a qualitative analysis applying a case study approach. We collected data from archival sources including corporate documents and official reports. The results revealed a partial support for the Uppsala model, while the Eclectic paradigm combined with an institution-based view explain VWG's location choices. Most importantly, the findings demonstrate that when examining a firm's entry and subsequent investment into international markets, institutional aspects must be explored in depth not only at the country level, but especially from a subnational level perspective, since the operation in fact occurs in this specific location.

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A survey on institutions and new firm entry: How and why do entry rates differ in emerging markets?

Cited by 45 publications

References 46 publications

The role of informal institutions in corporate governance: Brazil, Russia, India, and China compared

The role of informal institutions in corporate governance: Brazil, Russia, India, and China compared

Competition Law Enforcement in the BRICS and in Developing Countries

Location choices at the subnational level perspective: the case of the Volkswagen Group in BRIC countries

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