| Establishing Reputation on the Warsaw Stock Exchange: International Brokers as Legitimating Agents |
| | Standifird, Stephen Scott | U. of Oregon | steves@oregon.uoregon.edu | 541-346-3301 |
| | Weinstein, Marc Glenn | U. of Oregon | marcw@oregon.uoregon.edu | 541-346-3292 |
| | Meyer, Alan | U. of Oregon | ameyer@oregon.uoregon.edu | 541-346-5178 |
| | The purpose of this study is to investigate how firms establish reputation with investors in the uncertain environment of an emerging economy. Following the work of Rao (1994), we treat reputation as the outgrowth of legitimation. We identify independent third parties as potential facilitators of the legitimation process. Specifically, we suggest that international brokers serve as “legitimating agents” on the Warsaw Stock Exchange by acting as a bridge between those seeking reputation (i.e., client firms) and those responsible for conferring reputation (i.e., investors). We find strong empirical evidence for the suggestion that international brokers serve as legitimating agents for client firms. Thus, we find that firms in emerging economies can enhance their reputation by employing the services of a reputable independent third party. |
| | Keywords: Poland; Reputation; Legitimacy |
| Alliance Formation in Emerging Markets--An Institutional View |
| | Tao, Qingjiu | U. of Pittsburgh | qtao@mail.business.pitt.edu | 412-6481646 |
| | Alliance has long been an important research topic covering several theoretical bases and perspectives.
Yet, the basic question of why do firms form alliances remains to be answered. Transaction cost theory
does not capture the impact of the institutional environment on alliance formation decision. The author
argues that alliances as organizational structure reflect institutional understandings, rather than rational
calculation of efficiency in the context of emerging markets. Foreign firms comply with formal institutional
constraints imposed by host government and informal pressures by societal norms through forming alliances
with local firms. Furthermore, uncertainty in the institutional environment encourages firms to imitate
model organizations successful in forming alliances.
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| | Keywords: alliance formation; institutional view; emerging markets |
| Crafting a Singaporean Culture: Implications for Fheory and Practice |
| | Haley, Usha C. V. | New Jersey Institute of Technology | alamo@compuserve.com | (973) -596-6414 |
| | Low, Linda | National U. of Singapore | fbalowl@nus.edu.sg | (65) 874-6279 |
| | In this paper, we explore the theoretical and practical ramifications of cultural change. Government-led development in Singapore has involved crafting a culture that will adapt to multinational corporations' (MNCs') needs and to fast-changing global environments in a restructured economy. The socially re-engineered Singaporean culture appears hierarchical, disciplined, authoritarian and a showcase for technocratic management. Yet, further crafting of the Singaporean culture along the historical model seems to result in a diminishing ability to produce creative, innovative and productive workers for the knowledge economy and the MNCs that dominate it. Drawing on our research and work experiences, we propose implications and solutions for local employers and foreign MNCs. |
| | Keywords: Singapore; Culture; Business-Government |
| The Impact of Market Liberalization on Firm Scope |
| | Toulan, Omar Nohad | McGill U. | toulan@management.mcgill.ca | (514)-398-4036 |
| | This paper addresses the issue of the impact of market liberalization on the vertical scope of the firm. Following a review of the literature, it is reasoned that in general one would expect to see a decrease in the levels of vertical integration of firms following a market liberalization program. A number of factors, both economic and institutional, are identified which push firms in this direction. Among these are larger effective market sizes and increased competitive pressures from abroad, the first of which allows for greater specialization while the latter demands it. In addition, the rationalization associated with privatization and deregulation also push in the same direction.
It is also hypothesized that this trend will be most pronounced amongst firms selling to MNEs locally, as they demand higher than average standards from suppliers. Empirical support is found for the hypotheses using survey as well as case study data of Argentine firms from 1996.
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| | Keywords: Vertical integration; Liberalization; Argentina |
| The Impact of Political Ideology on Strategic Decision Process : An Action Research in an Alliance in Vietnam |
| | Venard, Bertrand | ESSCA | b.venard@essca.asso.fr | 33 - 241 7347 86 |
| | The aim of the paper is to highlight the impact of Political Ideology on the Decision Process in International Alliances. The research is based on an Action Research in Vietnam from 1993 to 1994. |
| | Keywords: Ideology; Decision; Alliance |