Institutional Strategies in Emerging Markets

Institutional Strategies in Emerging Markets

We review and integrate a wide range of literature that has examined the strategies by which organizations navigate institutionally diverse settings and capture rents outside of the marketplace. We synthesize this body of research under the umbrella term institutional strategies, which we define as the comprehensive set of plans and actions directed at leveraging and shaping sociopolitical and ...

Strategies that fit emerging markets.

It's no easy task to identify strategies for entering new international markets or to decide which countries to do business with. Many firms simply go with what they know-and fall far short of their goals. Part of the problem is that emerging markets have "institutional voids": They lack specialized intermediaries, regulatory systems, and contract-enforcing methods. These gaps have made it diff...

Managers, Investors, and Crises: Mutual Fund Strategies in Emerging Markets

Long Memory in Stock Returns: A Study of Emerging Markets

The present study aimed at investigating the existence of long memory properties in ten emerging stock markets across the globe. When return series exhibit long memory, it indicates that observed returns are not independent over time. If returns are not independent, past returns can help predict future returns, thereby violating the market efficiency hypothesis. It poses a serious challenge to ...

Institutional herding in international markets

This paper studies herding behavior of institutional investors in international markets. First, we document the existence of wide-spread herding in 41 countries (referred to as ‘‘target countries’’ hereafter) in the sample. We then examine the relation between contemporaneous institutional demand and future returns and find that institutional herding stabilizes prices. Next, we examine the rela...