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We investigate how formal institutional distance (FID) moderates the cultural distance (CD) and financial performance relationships of foreign subsidiaries of firms. Following recent research, we estimate the asymmetric effects of CD by considering its size and direction towards host countries...
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The paper first conducts an analysis of the patterns and trends in the business regulatory systems in ASEAN countries over time, which reveals the effectiveness of the regulations and the ease of doing business (EDB) across ASEAN. After sorting out the relevant business regulatory and control...
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