Managers considering working abroad should have a thorough understanding of the formal institutions before entering a country.
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Q1: More than 40% of Africa s economy
Q3: Institutional transactions in countries such as China,
Q4: Two pillars the regulatory and the normative
Q5: Iran and Saudi Arabia are common law
Q6: Informal institutions include laws, regulations, and rules.
Q7: Firms operating in democracies almost never confront
Q8: Totalitarian countries often experience wars, riots, protests,
Q9: Managers and firms rationally pursue their interests
Q10: Formal and informal policies are popularly known
Q11: An important source of transaction cost is
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