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    Institutional reform and entry mode by foreign firms: The case of Jordan

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    McDonald Institutional reform.pdf (163.2Kb)
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    Publication date
    2002
    Author
    El Said, H.
    McDonald, Frank
    Keyword
    Institutional systems
    Entry modes
    Multinational corporations
    Jordan
    Developing and transition countries
    International joint ventures
    Foreign direct investment
    Formal institutional constraints
    Informal institutional constraints
    Rights
    © 2002 UMAR IMAD [Slovenia]. Reproduced in accordance with the publisher's self-archiving policy.
    Peer-Reviewed
    Yes
    
    Metadata
    Show full item record
    Abstract
    This paper investigates the links between institutional systems and the entry mode of Multinational Corporations (MNCs) in developing and transition countries (DTCs). An assessment is made of the reasons for the continuing use of international joint ventures (IJVs) in countries that have undergone reforms intended to lead to the development of wholly owned subsidiaries. The paper argues that formal and informal institutional constraints in DTCs lead to high transaction and uncertainty costs for MNCs, and that the use of IJVs is a rational response to attempt to lower these high costs. The paper follows the literature suggesting that IJVs are normally a `second best¿ entry mode in terms of the potential for foreign direct investment (FDI) to contribute to the development of DTCs. The reform process in Jordan is used to illustrate how institutional systems, especially informal institutional constraints, lead to high transaction and uncertainty costs. In the case of Jordan, this occurred despite a series of four reform packages seeking to reduce the institutional barriers to effective business activities. Interviews of 28 foreign companies provide the basis for an empirical assessment of the importance of both formal and informal institutional constraints and infrastructure problems. The paper includes an outline of a future research agenda that seeks to generalise and develop the results from Jordan to other DTCs.
    URI
    http://hdl.handle.net/10454/2591
    Version
    published version paper
    Citation
    El Said, H. and McDonald, F. (2002). Institutional reform and entry mode by foreign firms: The case of Jordan. Journal For Institutional Innovation, Development and Transition. Vol. 6, pp. 76-88.
    Link to publisher’s version
    http://www.umar.gov.si/en
    Type
    Article
    Collections
    Management and Law Publications

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