Does imitation reduce the liability of foreignness? Linking distance,isomorphism, and performance

Research summary : Research demonstrates that foreign firms from institutionally distant countries imitate the practices of domestic firms (i.e., adopt an isomorphism strategy). The conjecture has been that pursuing such a strategy can help foreign firms counteract the deleterious performance consequences associated with institutional distance; yet there is scant evidence of such. This study treats isomorphism as an endogenously selected strategy influenced by institutional distance to examine its performance consequences. Using a dataset of 80 foreign banks from 25 countries operating in the United States, we find that foreign firms from institutionally distant home countries benefit initially from selecting an isomorphism strategy. However, the benefits diminish with experience. Managerial summary : Multinational companies experience great difficulty in managing institutional distance, and research suggests that one way to overcome distance‐related constraints is to imitate the strategies of local companies. Unfortunately, we do not know enough about the performance‐related consequences of engaging in such imitative behavior. This study examines whether imitating local firms improves performance for multinational companies from institutionally distant markets. We find that imitation improves a firm's performance at first; however, with experience those same strategies result in performance decrements. Managers of multinationals should therefore be careful not to get locked into imitative strategies that provide performance benefits upon entry, but that fail to provide benefits over time. Copyright © 2015 John Wiley & Sons, Ltd.     

Shadow Banking Credit Intermediation： Determinants of Default Risks in Securitization and Collateralization

The growth in shadow banking system over the past few years is acknowledged as the key risk to Malaysia＇s financial stability. This is because that it is associated with growth in the household debts extended by the shadow banks. In line with initiatives by the Bank Negara Malaysia （the Central Bank of Malaysia） to enhance surveillance on the activities of the shadow banks in Malaysia, this study attempts to examine the determinants of default risks of shadow banks restricting to focus on their two main activities： securitization and collateralization. The results provide empirical evidence that future methodology to examine the systemic risks in the shadow banking system may need to account for additional explanatory variables that measure collateralized assets that are being intermediated.     

我国利用外商直接投资中的风险与防范

自从改革开放以来,利用外资是我国经济发展的主要动力之一。外商直接投资的比重,尤其是进入90年代以后,呈现逐年上升趋势。随着我国的外商直接投资的增多,各种利弊也逐渐的显示出来,本文将从风险的概念入手,进而引出外商直接投资的风险的定义。并指出外商直接投资的特点,以及其产生风险的根源,进而引申到我国的经济现实,提出对我国的外商直接投资风险的分析。     

对外汉语教学中俗语教学的探析

俗语教学对于民俗文化的学习者非常重要。本文分析了对外汉语教学中俗语教学的障碍及其原因,并以部分中高级对外汉语教材为研究对象,总结了俗语教学的方略。     

中外全面预算管理比较

本文在分析中外全面预算管理相同点的基础上,着重论述了两者在预算目标定位、预算组织管理、人力资源配置、信息技术研发和应用及预算执行与评价等方面的不同点,并提出了适合于中国企业研究和借鉴的建议。     

外军工程机械的特点

结合现代信息化战争的特点,总结了外军工程机械的几大特点,包括通用化、集成化、系列化程度高,技术先进,可靠度高,机动性能好,快速部署能力强以及伪装防护性能好等。     

基于政府门户网站建设浅析日文版网站建设与发展

在信息化社会中,政府网站在电子层面发挥着重要的职能作用。本文就国内政府门户网站的发展现状和发展前景进行分析总结,对日文网站的建设和维护提出建议。     

试论提高外语产出能力的方法

本文从一份调查评估报告入手,分析了造成我国外语学习者熟练程度低的主要原因,并从调整教学目标、改革教学内容、加大语言输入、增强输入内容的实用性和加强语言输出等方面探讨了提高外语产出能力和加强熟练度的种种途径。     

商业银行国家助学贷款之风险分析

文章着重论述了国家助学贷款的信贷风险问题,指出国家助学贷款是一种财政贴息无担保的信用贷款,是一项公共政策;提出防范助学贷款的信贷风险,需要构建以国家征信体系为基础的社会诚信环境,完善全国性的个人征信信息系统,大力推广生源地贷款,创建助学贷款的风险管理系统。     

我国吸引外国直接投资对技术创新的影响

引进技术不等于引进技术创新能力,技术和技术能力是两个有本质区别的概念。在一定条件下,技术可以引进,但技术创新能力不可能引进。我国的产业体系要消化吸收国外先进技术并使之转化为自主的知识资产,就必须建立以企业为主的自主开发平台,培养锻炼自己的技术开发队伍,进行技术创新的实践。