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International Business > Chapter 2 > Flashcards

Chapter 2 Flashcards

1
Q

Institutions

A

formal and informal rules of the game

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2
Q

Institution-Based View

A

a leading perspective in international business that suggests that firm performance is, at least in part, determined by the institutional frameworks governing firm

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3
Q

Institutional Framework

A

formal and informal institutions governing individual firm behavior

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4
Q

Formal Institutions

A

institutions represented by laws, regulations, and rules

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5
Q

Informal Institutions

A

rules that are not formalized but exist in, for example, norms and values

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6
Q

Regulatory Pillar

A

the coercive power of governments

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7
Q

Normative Pillar

A

the mechanism through which norms influence individual and firm behavior

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8
Q

Cognitive Pillar

A

the internalize, taken-for-granted values and beliefs that guide individual and firm behavior

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9
Q

Transaction Costs

A

the costs associated with economic transactions

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10
Q

Opportunistic Behavior

A

seeking self-interest with guile

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11
Q

Institutional Transition

A

fundamental and comprehensive changes introduced to the formal and informal rules of the game that affect organizations as players

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12
Q

Political System

A

a system of the rules of the game on how a country is governed politically

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13
Q

Totalitarianism

A

a political system in which one person or party exercises absolute political control over the population

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14
Q

Democracy

A

a political system in which citizens elect representatives to govern the country on their behalf

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15
Q

Political Risk

A

risks associated with political changes that may negatively impact domestic and foreign firms

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16
Q

Economic System

A

rules of the game on how a country is governed economically

17
Q

Market Economy

A

an economy that is characterized by the invisible hand of market forces

18
Q

Command Economy

A

an economy in which all factors of production are government or state-owned and controlled, and all supply, demand and pricing are planned by the government

19
Q

Varieties of Capitalism View

A

a scholarly view suggesting that economies have different inherent logics on how markets and other mechanisms coordinate economic activity

20
Q

Liberal Market Economy

A

a system of coordination primarily through market signals

21
Q

Coordinated Market Economy

A

a system of coordinating through a variety of other means in addition to market signals

22
Q

Legal System

A

the rules of the game on how a country’s laws are enacted and enforced

23
Q

Civil Law

A

a legal tradition that uses comprehensive statues and codes as a primary means to form legal judgments

24
Q

Common Law

A

a legal tradition that is shaped by precedents and traditions from previous judicial decisions

25
Q

Case Law

A

rules of law that have been created by precedents of cases in court

26
Q

Legal Certainity

A

clarity over the relevant rules applying to a particular situation

27
Q

Property Rights

A

the legal rights to use an economic property (resource) and to derive income and benefits from it

28
Q

Intellectual Property Rights

A

rights associated with the ownership of intellectual property

29
Q

Patents

A

legal rights awarded by government authorities to inventors of new technological ideas, who are given exclusive (monopoly) rights to derive income from such inventions

30
Q

Copyrights

A

exclusive legal rights of authors and publishers to publish and disseminate their work

31
Q

Trademarks

A

exclusive legal rights of firms to use specific names, brands and designs to differentiate their products from others

32
Q

Corporate Governance

A

rules by which shareholders and other interested parties control corporate decision-makers

International Business (5 decks)

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