When distance does not matter: Implications for Latin American multinationals

Conti, Claudio Ramos; Parente, Ronaldo; Vasconcelos, Flávio Carvalho de

doi:10.1016/j.jbusres.2015.10.144

Cited by 25 publications

(17 citation statements)

References 134 publications

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“…Third, our paper contributes to the understanding of the Latin American context, an area that has been underrepresented in international scholarship ( Aguinis et al, 2020 , Conti et al, 2016 ). The study of recessions is of particular relevance in Latin America’s cyclical, unstable economic environment ( Aguilera et al, 2017 , Aguinis et al, 2020 ).…”

Section: Introductionmentioning

confidence: 90%

Firm characteristics and capabilities that enable superior performance in recessions

Conti

Goldszmidt

Vasconcelos

2020

Journal of Business Research

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Highlights Integrative model analyzes firms’ success in recessions, relevant in Latin America. Links entrepreneurship and improvisation literatures. Survey data from Brazilian firms on the 2008–2009 global recession analyzed in PLS. Propensity to recognize opportunities & improvisation capability raise performance. Moderating effect of entrepreneurial orientation is also important.

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Section: Introductionmentioning

confidence: 90%

Firm characteristics and capabilities that enable superior performance in recessions

Conti

Goldszmidt

Vasconcelos

2020

Journal of Business Research

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“…En relación al enfoque que comprende los factores determinantes para competir en el mercado internacional, se abordan estudios sobre la importancia de la ubicación geográfica, en cuanto a la cercanía con mercados potenciales, la geoeconomía, el acceso a recursos y las alianzas estratégicas públicas y privadas (Conti, Parente, & de vasconcelos, 2016;Dau, 2013;Felzensztein, Ciravegna, robson & Amorós, 2015;vendrell-Herrero, Gomes, Mellahi & Child, 2017). Se presenta una visión general de los cambios del entorno empresarial en América Latina y su evolución en los procesos de internacionalización (Carneiro & Brenes, 2014) (Hennart, Sheng & Carrera, 2017) (Ciravegna, López & Kundu, 2016).…”

Section: Documentos Estructurales (Tronco)unclassified

Internacionalización de empresas latinas: evolución y tendencias

Duque

Aguirre

Lesmes

et al. 2020

Revista Económicas CUC

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El propósito de este estudio es realizar un análisis sistémico de las investigaciones sobre internacionalización de empresas Latinas. Para ello, se efectúa un análisis de red complementado con herramientas bibliométricas, logrando así, la identificación de las perspectivas del tema. Inicialmente, se efectuó la búsqueda temática en las bases de datos WoS y Scopus; las referencias obtenidas fueron procesadas mediante bibliometrix y Gephi, facilitando la clasificación de los documentos según su relevancia en tres categorías, clásicos, estructurales y recientes, finalmente se realiza un análisis de cocitaciones. Este último procedimiento permitió identificar cuatro perspectivas principales en el área: diversificación y desempeño, emprendimiento, exportaciones y mercado, estrategias y competencia.

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“…Furthermore, foreignness can be determined largely by institutional distance between home and host countries, that is, differences in economic development, business practices, political systems, and regulatory, normative and cultural-cognitive institutions between two countries (Salomon and Wu, 2012;Conti et al, 2016). Liability of foreignness can, in turn, increase foreign affiliates' cost of doing business in the host country (Riaz et al, 2015;Conti et al, 2016;Zaheer, 1995Zaheer, , 2015.…”

Section: Derivatives Use and Exposures For Different Firmsmentioning

confidence: 99%

Financial derivatives use and multifaceted exposures

Trang

2018

JABES

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Purpose The purpose of this paper is to assess the effect of financial derivatives use on different exposures by comparing domestic firms, domestic multinational corporations (MNCs) and affiliates of foreign MNCs using a unique hand-collected data set of derivatives activities from 881 non-financial firms in eight East Asian countries over the period of 2003-2013. Design/methodology/approach In this paper, the authors apply a two-stage approach. In the first stage, exposures to country risks, exchange rate and interest rate risks are estimated by using the market model. In the second stage, potential effects of firms’ derivatives use on multifaceted exposures are investigated by carrying out pooled regression model, and panel data regressions with random effect specifications. Findings The authors provide novel evidence that financial hedging of domestic firms and domestic MNCs reduces exposure to home country risks by 10.91 and 14.42 percent per 1 percent increase in notional derivative holdings, respectively, while affiliates of foreign MNCs fail to mitigate exposure to host country risks. The use of foreign currency and interest rate derivatives by domestic firms and domestic MNCs is effective in alleviating such firms’ exposures to varied degrees, while foreign affiliates’ use of derivatives can only lower interest rate exposures. Originality/value The primary theoretical contribution of this study is applying the market model to estimate exposures to home and host country risks. Regarding empirical contributions, the authors provide strong evidence that the use of financial derivatives by domestic firms and domestic MNCs significantly contributes to a decline in exposure to home country risks, and evidence the outperformance of domestic MNCs vis-à-vis domestic firms and foreign affiliates.

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When distance does not matter: Implications for Latin American multinationals

Cited by 25 publications

References 134 publications

Firm characteristics and capabilities that enable superior performance in recessions

Firm characteristics and capabilities that enable superior performance in recessions

Internacionalización de empresas latinas: evolución y tendencias

Financial derivatives use and multifaceted exposures

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