Foreign Direct Investment ( FDI )

This presentation examines changes in global foreign direct investment (FDI) flows and stocks in the past quarter of century (1991–2016) for countries and territories for which data are available. It also asks how those changes affect our way of explaining FDI and other activities of multinational enterprises (MNEs), and draws basic public policy conclusions from the evolving landscape of FDI and our understanding about the main driving forces behind those changes.

Le but de ce livre est d'analyser l'évolution du terrorisme mondial de 2010 à nos jours. Le livre s'adresse à toutes les personnes intéressées par le domaine du terrorisme, en particulier les enseignants, les chercheurs, les étudiants, les entreprises de sécurité et l'environnement des affaires.
Dans le chapitre 1, nous mettrons en évidence les types de terrorisme, à savoir le terrorisme conventionnel, le bioterrorisme, le cyber-terrorisme, l’écoterrorisme, le terrorisme nucléaire, le terrorisme politique, le narco-terrorisme, le terrorisme religieux. Nous soulignerons le profil général des terroristes et analyserons le profil des terroristes dans les États arabes et occidentaux, ainsi que la manière dont les femmes sont impliquées dans l'organisation d'attentats terroristes.
Concernant les stratégies utilisées par les terroristes, nous examinerons comment recruter des combattants mais aussi des jeunes pour des organisations terroristes, et aussi comment les terroristes utilisent les médias sociaux pour diffuser leurs messages extrémistes. Nous observerons la manière dont les institutions étatiques chargées de la lutte contre le terrorisme prennent des mesures pour prévenir de tels incidents. Dans le chapitre 2, nous verrons quels sont les effets du terrorisme et du crime organisé sur la société et comment ils influencent l'économie souterraine. Afin de mettre en évidence les effets, nous analyserons les particularités et les similitudes entre eux. Le chapitre 3 analyse le financement du terrorisme, qui sont les financiers des terroristes, quelles sont les principales sources de financement, à savoir les dons, le blanchiment d'argent, le trafic de drogue et d'êtres humains, la fraude bancaire, l'extorsion, les enlèvements, etc. financement du terrorisme pour un État. Au chapitre 4, nous déterminerons comment le terrorisme affecte l'économie mondiale, en analysant l'impact sur les principales branches de l'économie, à savoir le produit intérieur brut, l'industrie aéronautique, l'industrie énergétique, le marché des capitaux et les investissements directs étrangers. Le chapitre 5 fournira une perspective sur le terrorisme en analysant les effets sur les droits de l'homme, le bien-être humain et les jeunes.
Le livre se terminera par une série de conclusions et de recommandations sur la lutte contre le terrorisme par les institutions étatiques et la réduction des effets psychologiques sur les victimes du terrorisme. Le 11 septembre s'inscrit dans une tendance de plus en plus meurtrière dans l'évolution du terrorisme. Si l'on compare le présent à celui de la dernière décennie, il y a maintenant moins d'attaques terroristes, mais leur intention est de tuer plus de personnes. Les experts attribuent cette tendance à «moins d'attaques, plus de morts » à une augmentation du terrorisme à motivation religieuse. Ce type de terrorisme ne dispose pas de certaines restrictions que celles des versions antérieures du terrorisme. Les experts émettent l’hypothèse que les détournements et enlèvements popularisés dans les années 60 et 70 ont été réduits à des opérations de bombardement plus simples, mais parfois plus meurtrières, en raison de la sensibilisation et de la sécurité accrues du monde.
Il déclare que «la source fondamentale de conflit dans ce nouveau monde ne sera pas principalement idéologique ou principalement économique… les lignes de fracture entre les civilisations seront les lignes de bataille de l'avenir ». Il semble cependant que les différences culturelles puissent également être considérées comme la racine de certaines différences idéologiques. Prenons, par exemple, les États-Unis et leur société capitaliste. Bien que le capitalisme soit une idéologie, c'est un principe sur lequel notre pays a été construit et que les Américains défendent. C'est aussi un idéal que de nombreux pays étrangers considèrent comme contrôlant et une façon pour les États-Unis d'essayer d'occidentaliser d'autres nations. C’est là que le choc des cultures entre en jeu - d’autres cultures estiment que les États-Unis sont une menace constante pour le bien-être de leur civilisation.
Depuis les attentats terroristes de 2001, la religion est devenue un problème plus important dans les conflits internationaux. En Israël, des terroristes participent à des attentats-suicides en signe de désapprobation des pratiques juives. Dans divers pays, les chrétiens et les établissements chrétiens sont la cible de violences, amenant divers gouvernements (y compris les États-Unis) à avertir les chrétiens des dommages potentiels dans des pays à majorité musulmane ou islamique. Tout récemment, les chrétiens pakistanais ont observé une «journée noire » à la mémoire de ces chrétiens qui ont été tués à cause des terroristes islamistes. Le problème ici n'est ni idéologique ni économique, il est, comme l'a prédit Huntington, culturel. S'il s'agit d'un problème spécifique à certaines religions, il est devenu un problème international qui touche des millions de personnes.
David Remnick, auteur de l'article «Après Madrid» publié dans The New Yorker, estime que «l'intensification des renseignements conjoints ou même des opérations militaires contre al-Qaïda» ne résoudra pas ses problèmes avec les États-Unis. «Mieux vaut organiser« une conférence internationale pour combler le fossé entre les communautés musulmanes et chrétiennes », suggère-t-il. Le problème ne se situe pas entre deux nations; il se situe plutôt entre deux civilisations opposées aux philosophies très différentes. Les frontières entre l'Occident et l'Islam sont de plus en plus floues. L'islam est actuellement une partie croissante des sociétés occidentales en raison de l'immigration et du partage de différentes cultures et croyances. On estime que 12 millions de musulmans vivent dans les pays de l'Union européenne et entre cinq et sept millions de musulmans vivent aux États-Unis. D'ici 2010, disent les démographes, l'islam deviendra la deuxième religion la plus populaire aux États-Unis après le christianisme.

In this study, the linkages between political dynamics and foreign direct investment inwards to 118 developed and developing countries over the 2002-2017 period were analysed by the System GMM Panel Model to avoid the potential endogeneity problem. Findings indicate that the most vital positive determinant of FDI inwards is trade liberalization or trade openness. Also, there is no statistically significant relationship between countries' democratization and freedom level and FDI inwards. However, terrorism hinders FDI directly, especially in developed countries. Therefore, the decision of foreign investors might mainly depend on economic dynamics, which are related to them and host countries rather than politics.

Foreign Direct Investment (FDI) increases and stimulates productivity and plays a crucial role in economic development. It increases the national income, provides job opportunities, and allows the country to access foreign exchange and foreign currencies through improving the positive balance of export and import and trade balance. This paper discusses the political steps of the Omani government towards FDI, highlights the importance of the right investment climate, promotes Oman as a potential for FDI globally, and reviews government measures to attract FDI in Oman. Economic diversification and growth are essential for Oman as a country that relies on oil and gas as its primary source of income. In Oman, the FDI inflow is less than average compared with other Gulf countries. Yet, Oman has some advantages, mainly political stability, which plays a significant role in attracting FDI to the country. This research's hypothesis is that: if Oman takes specific political steps such as improving its market size and investment climate, it will significantly enhance the inflow of FDI and provide an essential source for economic diversification and growth. Interviews had been conducted with officials aiming to enrich and gain information on the concept of FDI and to examine the hypothesis. This study confirmed the great ability of Oman to attract a large share of FDI in the region if the Omani government takes specific political steps to improve the investment climate, market size, and manage the foreign direct investment.

This study investigates the relationship between exports, foreign direct investments (FDI) and economic growth in five Eurozone countries (Greece, Portugal, Ireland, Spain, and Italy) using panel data for the period 1970 to 2011. The panel data causality results revealed that there is bidirectional causality between exports and economic development, while there is no causality between economic growth and FDI nor between FDI and exports.

Background: This article examined the unserviceable assets disposal practices of five polytechnics (tertiary educational institutions) in Ghana.Objectives: The aim was to determine the extent of statutory compliance, and the degree to which value for money was achieved in actual disposal.Method: A survey was conducted using interviewer-administered questionnaires containing five-point likert scale test items. Descriptive statistics and a one-way analysis of variance (ANOVA) were employed to analyse the data.Results: The study results showed that a limited number of polytechnics had internal policies to operationalise statutory procurement legislation. Top management demonstrated very clear understanding of procurement legislation whilst senior-level managers displayed mixed levels of understanding. The section of the legislation dealing with disposals and the procedures pertaining thereto is perceived to be difficult to implement and does not promote value for money. Top management’...

According to the global trend, the attraction of foreign direct investment is increasingly playing an important role in the economic development of countries, especially developing countries. development, including Vietnam. High quality human resource is considered one of the important factors to attract FDI enterprises to invest in Vietnam. In the current competitive landscape, along with the ever-changing development and change of technology, there is a lot of evidence that employee's creativity has contributed significantly to innovation, operational efficiency and life. also of the business. Therefore, attracting and maintaining human resources is a prerequisite for improving the quality of the workforce, ensuring the sustainability of economic development. This article will present issues related to high quality human resources including the current situation of high quality human resources; the relationship between FDI attraction and attraction; attract and maintain high-quality human resources, thereby offering solutions to attract and maintain high-quality human resources at FDI enterprises in Vietnam.

South Korea is one of the largest trade partners of Ethiopia just after China, USA and Italy. Ethiopia exports and imports from Korea is gathering momentum. South Korea also imports many agricultural products from Ethiopia. It is considered as important development partners of Ethiopia. This paper focuses on present pattern of trade and investment of South Korea with Ethiopia along with future trade and investment potential and prospects.

This research paper intends to test the dependence of economic growth (GDP) by export and foreign direct investment (FDI). Correlation test is used in order to identify the nature of relationship b/w foreign direct investment (FDI), export and economic growth (GDP). A simple linear regression model is used in order to identify the influence of export and foreign direct investment (FDI) on economic growth (GDP). Previous researches illustrates that there is a mix result exists b/w export, foreign direct investment (FDI) and economic growth (GDP). In our case of Asian countries, it is recognized that positive relationship exists b/w export, foreign direct investment (FDI) and economic growth (GDP). It is also identified in our case that there is a moderate regression exists in relationship of export, foreign direct investment (FDI) and economic growth (GDP).

Omnibus Law introduces "Risk-Based Business Licensing" or "Perizinan Usaha Berbasis Risiko" as the new business licensing regime to foster and boost investment climate in Indonesia. 2 In early February 2021, the Government of the Republic of Indonesia promulgates Government Regulation No. 5 of 2021 on the Organization of Risk-Based Business Licensing  to elaborate further on the said business licensing.

Income inequality has long been a frustrating feature of Malaysian economic development. The country income inequality, represented by the Gini Coefficient has decreased only slightly to 0.41 in 2014 from 0.51 in 1970. This income inequality, however, was accompanied by rapid economic growth. Gross Domestic Product (GDP) has grown by an average of more than 7 percent per year for 25 years or more. The expectations that the high economic growth would accompany low income inequality as hypothesized by the inverted ‘U-shaped’ Kuznets curve have not come true for Malaysia. Why did it occur? Unlike many other conventional studies which look at the relationship between growth and income inequality to explain this phenomenon; this study intent to looks at the foreign direct investment (FDI) relationship with income inequality. Since 1990s, FDI has been an important source of economic growth for Malaysia, bringing in capital investment, technology and management knowledge needed for economic growth. FDI had increased almost thirty-fold during 1970s to 2000s. There is a heated debate on the effects of FDI on income distribution. While FDI may have been good for development this masks the facts that not all types of workers necessarily gain from FDI to some extent. FDI induced skill specific technological change where it can be associated with skill-specific wage bargaining or skill-intensive sectors. This study presents an attempt to evaluate the impact of foreign direct investment (FDI) on income distribution among labors. The Malaysia’s Social Accounting Matrix (SAM) is constructed as a framework for the analysis. In this SAM the detail framework of the component of FDI in various sectors, production sectors and labour groups are essential to analyse different effects from different component of FDI on the labor’s income distribution among different labor group. This structure of SAM would answer the question of either and which component of FDI will benefit the most to the low income. The study finds that the FDI expansion has impacted negatively on the distribution of income across different labor groups, where it has increased the high-low or skilled-unskilled income inequality. It also indicates that there are differences in the composition of the FDI that impacts income distribution among labor. The apparent differences in the magnitude of the effects of the different FDI components suggests that variations in the FDI allocations among sectors should be considered as a possible policy variable to achieve income equality goals.

Theoretical studies strongly support the positive effects of Foreign Direct Investment (FDI) in the Gross Domestic Product (GDP) of the host country through technology transfer, human capital formation, etc. This study aims to examine the real effects of FDI in the economic growth of Albania, since FDI was one of the first pillars of the economy that the government gave priority to after 1990. This relationship was investigated by using the Co-Integration approach for the quarterly data from 1991 to 2012. The time series data are taken from the Bank of Albania. As expected, the empirical findings of this study reveal the existence of a long run relationship of GDP growth and FDI to GDP ratio. Being strongly correlated to each other, FDI to GDP ratio shows its significant contribution to Albanian economic growth.

Details

Many studies focus on the competitive characteristics of cities-such as accessibility, infrastructure, knowledge, creativity, institutions, face-to-face-contacts, tacit knowledge, and business interaction-and how these attract FDI, firms, and people. However, few studies focus on the spatial characteristics of urban clusters. In this study, knowledge-intensive FDI into 15 Northwestern European cities was explored. The FDI was geo-mapped at a district level, and the characteristics of these districts regarding proximity, functionality, urbanity and spatial quality were classified. The results revealed the spatial indicators that attract FDI in knowledge-intensive industrial activities.

My paper on the Foreign Direct Investments in Romania not only aims at evaluating the motivation theories (push and pull) of FDI applicable in the case of Romania, but it also tries to analyze the specific features of the foreign investments in Romania with a focus on the American FDIs.
Nowadays FDI is a main force in the economic development, the ultimate reason being the anticipation of further profit. However there are a variety of factors that motivate FDI decisions such as market size and location, openness to trade, availability of capital, cost of labor and supply, the possibility of profit remittances and other cost and efficiency factors. My project is supported by quantitative research tools to gather and process the available international macro statistical data on the Romanian economy.
The outcome of the study is a clear picture of the reasons, trends and evaluation of the last 10 years of FDI inflow in Romania.

This study examines the joint effects of ICT diffusion (composed of access, usage and skills), and foreign direct investment (FDI) on inclusive growth in sub-Saharan Africa (SSA). The study draws on data from the World Bank’s World Development Indicators, and the Global Consumption and Income Project for the period 1980–2019 for the analysis. The study provides evidence robust to several specifications from ordinary least squares and dynamic system GMM estimation techniques to show that: (1) FDI and ICT diffusion and corresponding components (ICT access, usage, skills) induce inclusive growth in SSA; (2) compared to its direct effect, FDI is remarkable in fostering shared growth in SSA in the presence of greater ICT diffusion, and (3) compared to ICT access and usage, ICT skills are more effective in driving inclusive growth in SSA. Overall FDI modulates ICT dynamics to engender positive synergy effects on inclusive growth. Policy recommendations are provided in line with the implementation of the African Continental Free Trade Area (AfCFTA) Agreement and the projected rise in FDI in SSA from 2022.

The aim of the study is the relationship between foreign direct investments, exports and economic growth. The analysis of this study included E7 (Emerging 7) the so-called developing countries are Turkey, Mexico, China, India, Brazil, Russia and Indonesia in the analysis in this context. This study covered the period of 1992-2018. Pesaran (2007) panel unit root test was used for the analysis of the series stationary. Panel ARDL approach, which allows short and long term relationship, is used for series with different levels of stationary. According to the results of the error correction model established for all panel, any shock in the gross domestic product equation was adjusted by approximately 0.86 % within the first year. Error correction models were estimated for all units, and error correction terms for all units expect India were obtained as negative and statistically significant. As a result of the panel causality test, one-way causality findings were found between economic growth and exports. Additionally, there was a causality relationship with foreign direct investments and exports.

This paper study the relation between International Trade and Foreign
Direct Investment (FDI) in the world economy. First we study the prob-
lem in a multiple-network perspective, showing that the two networks
are strongly correlated and that such correlation can be mostly explained by country economic/demographic size and geographical distance. Then, using the Heckman selection model with a gravity equation, we conrm this result and also nd that the industry position in the Global Supply Chain (GSC) and countries distance give rise to non-linear corrections: in particular we nd that the more goods are downstream or countries are further away, the more trade and FDI tend to be complements. Next we investigate the eects of Regional Trade Agreements and the special case of Asian countries. Finally we distinguish the cases of the three main economic macro-sectors, nding that trade and FDI are complements in manufacturing, but substitutes in services.

Although current investment policies look promising and have already allowed the increase of Foreign Direct Investment (FDI) to reach 4 USD Billion Dollars in 2015, however, compared to neighboring and emerging countries; Egypt still needs to further evaluate and investigate the possibilities of attracting more Foreign Direct Investment. In this paper I evaluate and compare previous and current policies that target foreign investment. The current government is adopting a Foreign Investment targeting approach, however; not succeeding due to the instability of the economy and the risky nature of doing business in Egypt. Therefore, I present these challenges and discuss possible ways to remedy them following realistic and inclusive planning. For the government to attract more FDI, it is necessary to look for the right quality not the quantity to ensure long-run externalities form the investor. Egypt has been for long targeting location and resource-seeking investors, which have resulted in more exploitation and less benefit to the Egyptian economy. Therefore, targeting efficiency-seeking and market-seeking investors are two of the policy options I recommend. However, I stress the importance of efficiency-seeking policies which are aimed at improving the governmental decision making approach, and the efficiency and integrity of Egyptian institutions and sectors. In such way, many implications such as corruption and bureaucracy might be avoided with the right implementation of policies.

Wrocław to wyjątkowe i dynamicznie miasto, które stanowi doskonałe miejsce do inwestowania oraz rozwoju biznesu. Walory Aglomeracji Wrocławskiej od dawna doceniają nie tylko zagraniczni inwestorzy, ale stały się one również fundamentem rozwoju i globalnej ekspansji wielu znanych polskich firm. Współczesna dynamika zmian rodzi jednak nowe potrzeby, co sprawia, że informacja staje się coraz cenniejszym zasobem biznesowym. Zarówno zagraniczne koncerny, jak i krajowe firmy poszukują użytecznych informacji, niezbędnych do podejmowania trafnych decyzji inwestycyjnych. Nowe warunki gospodarcze wymagają podejmowania niestandardowych działań, co w konsekwencji stało się podstawą do rozpoczęcia projektu Invest in Wrocław (www.invest-in-wroclaw.pl). Wielu czynników ryzyka można bowiem uniknąć, jeśli lepiej zrozumie się sektorowe uwarunkowania i perspektywy rozwoju własnej branży i branż pokrewnych. Dlatego zostały opracowane analizy priorytetowych, silnie rozwijających się sektorów Aglomeracji Wrocławskiej takich jak:
Motoryzacja, Elektronika, Chemia i farmaceutyka, Inżynieria mechaniczna, IT, BPO, Sektor spożywczy.
Mamy nadzieję, że bezpłatne analizy sektorowe ułatwią podejmowanie decyzji nie tylko potencjalnym inwestorom, ale także tym firmom, które są już obecne na terenie Aglomeracji Wrocławskiej. Integracja informacji z wielu różnych źródeł w założeniu służyć ma także nawiązywaniu współpracy przez dostawców, poddostawców oraz odbiorców z różnych branż powiązanych z sektorami priorytetowymi dla rozwoju Wrocławia. Ze względu na zwiększenie przejrzystości rynku oraz ułatwienie kontaktu z firmami korzyści z tego tytułu mogą odnieść także jednostki samorządu terytorialnego, a szczególnie gminy. Dzięki połączeniu wszystkich wskazanych elementów możliwe staje zdynamizowanie rozwoju i uzyskanie przewagi konkurencyjnej przez cały region Aglomeracji Wrocławskiej. Mamy nadzieję, że w ten sposób na nowo wyznaczamy standardy we wspieraniu rozwoju biznesu.

Phân tích yếu tố ảnh hưởng đến FDI của các tỉnh thành Việt Nam bằng mô hình kinh tế lượng không gian Với mục đích phân tích các yếu tố ảnh hưởng đến đầu tư trực tiếp nước ngoài tại 63 tỉnh thành Việt Nam trong giai đoạn sau khi khủng hoảng tài chính kết thúc (2011–2014), nghiên cứu áp dụng mô hình kinh tế lượng không gian Durbin để có thể xem xét một cách tổng thể, bao gồm cả những yếu tố tương quan trong không gian địa lí giữa những tỉnh thành gần nhau. Kết quả nghiên cứu cho thấy quy mô thị trường, chất lượng lao động và quần tụ doanh nghiệp có tác động đến đầu tư trực tiếp nước ngoài và có tính chất lan tỏa khỏi ranh giới địa phương. Kết quả này gợi ý việc hoạch định chính sách ở địa phương và của trung ương nhằm tận dụng tác động lan tỏa của các yếu tố nói trên trong thu hút đầu tư nước ngoài. Abstract To investigate determinants of FDI in 63 provinces in Vietnam for the period, this paper uses the Spatial Durbin model to overlook spatial correlation among Vietnam's neighboring provinces and cities with provincial status. The results indicate that market size, quality of labor force, and agglomeration have positive effects on provincial FDI, and their effects spill over into other neighboring provinces. These findings espouse a regional economic development policy which focuses on strengthening the above FDI determinants in one province or an extended group of them to attract foreign investment to the region.

One of the practical problems faced by managers when choosing between alternatives (including whether or not to invest in a particular foreign project), is how to deal with the uncertainty of the outcome(s). The majority of textbooks split the methodology into three main streams. These can be summarized in the following way: representing the cash flows by their expected values and increasing the rate of return in order to outweigh the possibilities for unfavourable outcomes; expressing uncertainty related to the cash flows and applying the risk free discount rate; and finally a combination of the two - expressing uncertainty in the cash flows and discounting with a risk adjusted discount rate (RADR). In theory, it is proved that all three approaches to account for additional risk related to country specific characteristics can be applied interchangeably. Based on this concept, our research examined the hypothesis that the RADR method, containing Country Risk premium, can be applied as an equivalent of probability weighted scenarios (PWS) approach in a process of accounting for Country Risk in the expected Net Present Value (NPV) calculation for Foreign Direct Investment (FDI). The deliberate intervention on a micro scale has been identified as an appropriate approach in order to test the stated hypothesis.

The experiment was run on a sample taken from the FDI portfolio of oil and gas company, which consists of 24 investment cases performed in six countries. The results of this experiment support the hypothesis that, for the tested population, the RADR method is not an equivalent of the PWS approach and that both cannot be used interchangeably to account for Country Risk in the process of FDI appraisal.

The article discusses the issue of reform in Investor-State Dispute Settlement (ISDS) through the lens of the theory of heuristics and biases identified by cognitive psychology and behavioural economics. Reform proposals in ISDS have been heavily pathdependent on past theories and existing institutions in the field of international adjudication. A behavioural theory of international institutions can help design ISDS mechanisms that are better suited to the actual decision-making processes in international adjudication. The article presents various debiasing instruments for the ISDS context, such as 'nudges', which could form part of the institutional design of the new dispute resolution fora together with rational design instruments. Transparency mechanisms, levels of review, training and evaluation, consider-the-opposite strategies and new legal default rules should become embedded in the reformed ISDS, alongside a pluralistic rather than specialized court structure.

This article is written with the objective to explain the business structure of Limited Liability Partnerships in India and thus it comprises of extensive legislative analysis of Limited Liability Partnership's business structure, which provides the reader, a summarized information about Incorporation procedure, Taxation and Compliance requirements, FDI, Conversion procedure etc., of Limited Liability Partnerships and also the concept of Limited Liability Partnerships is explained in ephemeral manner. This article also comprises of a unique Comparative analysis between Company and LLP's, which is focused to help determining entrepreneur the kind to business structure, he should choose according to their business requirements.

The aim of this study is to investigate the determinants of FDI inflows in Sub-Saharan African countries. In this study, panel data analysis was performed by using annual data from 23 countries for the period of 1975-2017. The Pesaran (2004) Cross-Section Dependence Test was performed to test correlation and IPS Unit Root Test was applied to reveal the stationary level between the units. Based on the PMG estimator results GDP growth, trade openness, domestic credit, natural resources and telecommunication infrastructure are all found to be the determinants of FDI inflows in Sub-Saharan countries in the long term. But, in the short term, only the GDP growth and trade openness determines the FDI inflows.

Purpose
The purpose of this paper is to comprehensively explore marketing issues for foreign industrial companies of large, small and medium size entering emerging markets (EMs), particularly transition economies in Eastern Europe. The vast majority of current studies about emerging markets focus only on defining suitable strategies related to large consumer goods corporations.

Design/methodology/approach
The research adopted a multiple case study approach. Five Italian companies belonging to different business-to-business industries that have entered emerging countries in Eastern Europe were selected for investigation.

Findings
Empirical analysis uncovered recurring issues related to: institutional factors causing market uncertainty and instability; difficulties in building a sales network; a need for product adaptation to guarantee satisfactory performance; choices related to communication, branding and trade fairs; and considerations about competition and first mover advantage. Results can be interpreted as an extension of the analysis of institutional voids by Khanna and Palepu (1997).

Research limitations/implications
The study is based on the analysis of five case studies of companies operating in specific emerging markets, namely in Eastern Europe Countries (EEc) Further research based on different samples and different emerging countries is needed before generalizing results.

Practical implications
The study shows that the main institutional void affecting business-to-business companies entering emerging markets (EEc) is the lack of locally developed sales and after-sales networks. This institutional void slows the entry process of business-to-business companies in EMs. Given these constraints, from the perspective of business-to-business SMEs, it may be fruitful to pursue niche positioning in EMs.

Originality/value
The study analyzes emerging markets opportunities and entry strategies from the business-to-business marketing perspective, uncovering the most critical issues.