Acquisition strategies in European emerging markets

Acquisition Strategies in European Emerging Markets

Volumn , Issue , 2006, Pages 1-262

  Meyer, Klaus E ^a,c   Estrin, Saul ^b  

^a UNIVERSITY OF READING   (United Kingdom)

^b LONDON BUSINESS SCHOOL   (United Kingdom)

^c Copenhagen Business School ^*  (Denmark)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 85015050398     PISSN: None     EISSN: None     Source Type: Book    
DOI: 10.1057/9780230286542     Document Type: Book

References (143)

1. Andersen, A. (2001) What's Hot and What's not in the German Speaking Telecommunications and Internet/IT Industry, Deal survey 2000/2001.
2. Anderson, J. (2004a) 'Responding to Low-cost Operators', Global Telecoms Business,75 (July-August): 25-6.
3. Anderson, J. (2004b) Hutchison 3's Entry to the United Kingdom, London Business School Case Study, CS-04-012.
4. Anderson, J. (2005) Telmore: Disruption in the Danish Mobile Market, European School of Management and Technology, Case Study 200505.
5. Anderson, J. (2006) 'The Future of Fixed-mobile Convergence: Implications for Firm Strategy', Global Telecoms Business, 85 (May-June), in press.
6. Anderson, J., Dent, J. and Arzac, E. (2003) Who's Afraid of Vodafone Air Touch? The Hostile Bid for Mannesmann AG, London Business School, Case Study LBS CS-03-005.
7. Anderson, J., Hart, J. and Williams, B. (2004) 'The Transnational Challenge', Global Telecoms Business, 76 (September-October): 31-2.
8. Anderson, J. and Williams, B. (2004) 'Unbundling the Mobile Value Chain', Business Strategy Review, 15(3): 51-7.
9. Anslinger, P.L. and Copeland, T.E. (1996) 'Growth through Acquisitions: A Fresh Look', Harvard Business Review, January-February: 126-35.
10. Antal-Mokos, Z. (1998) Privatization, Politics and Economic Performance in Hungary (Cambridge University Press: Cambridge).
11. Bak, M., Kulawczuk, P., and Szcześniak, A. (1998) 'Case Studies on Withdrawals of Foreign Investors from Poland', Mimeo, Institute for Private Enterprise and Democracy, Warsaw.
12. Bak, M., Kulawczuk, P., Szcześniak, A. and Szczepaniec, M. (2000) Wykorzystanie Internetu w Procesach Rozwojowych Małych i średnich Przedsiebiorstw (The Use of Internet in Development Processes of Small and Medium Size Companies) (Warsaw, Poland:IPED).
13. Baldwin, R.E., Forslid, R. and Haaland, J.I. (1996) 'Investment Creation and Diversion in Europe', Journal of World Trade, Fall: 635-59.
14. Barkema, H.G. and Vermeulen, F. (1998) 'International Expansion through Start-up or Acquisition: A Learning Perspective', Academy of Management Journal, 41(1): 7-26.
15. Bartlett, C.A. and Ghoshal, S. (1987) 'Managing Across Borders, New Strategic Requirements', Sloan Management Review 28 (4): 7-17.
16. Bartlett, C.A. and Ghoshal, S. (1989) Managing Across Borders The Transnational Solution (Harvard Business School Press: Boston).
17. Bauer, A. (2004) WESTEL (A, B) Leadership in Mobile Communications, Case Study ECCH 504-029-1, 504-030-1, Budapest.
18. Bevan, A.A. and Estrin, S. (2004) 'The Determinants of Foreign Direct Investment into European Economies', Journal of Comparative Economics, 31: 775-87.
19. Bevan, A.A., Estrin, S. and Meyer, K.E. (2004) Foreign Investment Location and Institutional Development in Transition Economies', International Business Review, 13(1): 43-64.
20. Beyer, J. (2002) 'Please Invest in our Country-How Successful Were the Tax Incentives for Foreign Investment in Transition Countries?', Communist and Post-Communist Studies, 35: 191-211.
21. Bradley, M., Desai, A. and Kim, E. H. (1988) 'Synergistic Gains from Corporate Acquisitions and their Division between the Stockholders of Target and Acquiring Firms', Journal of Financial Economics, 21: 3-40.
22. Brenton, P., Di Mauro, F. and Lucke, M. (1999) 'Economic Integration and FDI: an Empirical Analysis of Foreign Investment in the EU and in Central and Eastern Europe', Empirica, 26(2): 95-121.
23. Buch, C., Kokta, R. and Piazolo, D. (2003) 'Does the East Get What Would Otherwise Flow to the South? FDI Diversion in Europe', Journal of Comparative Economics, 31: 94-109.
24. Buono, A.F. and Bowditch, J.L. (1989) The Human Side of Mergers and Acquisitions: Managing Collisions between People, Cultures and Organizations (San Francisco, London: Jossey-Bass).
25. Cambridge Telcom Report (1999) Media One International Agrees to Sell Central European Wireless Businesses to Deutsche Telekom, Largest-ever M&A Transaction in Emerging Europe Region, 1 November.
26. Campos, N.F. and Kinoshita, Y. (2003) Why does FDI Go Where it Goes? New Evidence from the Transition Economies (London: CEPR).
27. Carstensen, K. and Toubal, F. (2004) 'Foreign Direct Investment in Central and Eastern European Countries: a Dynamic Panel Analysis', Journal of Comparative Economics, 32: 3-22.
28. Cartwright, S. and Cooper, C.L. (1992) Mergers and Acquisitions: the Human Factor (Oxford: Butterworth-Heinemann).
29. Chariotou, C.D. and Markides, C.C. (2003) 'Responding to Disruptive Innovations', Market Leader, Summer.
30. Collis, D.J. and Montgomery, C.A. (1995) 'Competing on Resources: Strategy in the 1990s', Harvard Business Review, July-August: 118-28.
31. Czágler, P. (1999) Vodafone: Entry to the Hungarian Market, Unpublished Case Study, submitted to the McKinsey & Co., Inc., Case Competition, Budapest. Czágler, P. (2000) Nemzetközi Stratégiák a Mobïltavközlési Iparágban (International in the Mobile Communications Industry), Unpublished MSc. Thesis, (Budapest: BKÁE).
32. Danis, W.M. (2001) Changing Organizational Culture in an International Cooperative Venture, The Case of MATÁV in Hungary, CIBER Case Collection, ECCH 202-001-1.
33. Deutsche Bank (2001) EEMEA Telecom Review-The Telecom Directory for the Region, April (London: Deutsche Bank AG Emerging Europe Equity Research).
34. Disdier, A. and Mayer, T. (2004) 'How Different is Eastern Europe? Structure and Determinants of Location Choices by French Firms in Eastern and Western Europe', Journal of Comparative Economics, 32(2): 280-96.
35. Djankov, S., Glaeser, E., La Porta, R., Lopez-de-Silanes, F. and Shleifer, A. (2003) 'The New Comparative Economics', Journal of Comparative Economics, 31: 595-619.
36. Dunning, J.H. (1992) Multinational Enterprises and the Global Economy (Harlow:Addison-Wesley).
37. EBRD (various years) Transition Report (London: European Bank for Reconstruction and Development).
38. Eccles, R.G., Lanes, K.L. and Wilson, T.C. (1999) 'Are You Paying Too Much for that Acquisition?', Harvard Business Review, July-August: 136-46.
39. Eccles, T. and Stoll, M. (1991) Cadbury Schweppes plc, Case Study, Mimeo, London Business School.
40. Ernst and Young (2004) Company Taxation in the New EU Member States (Frankfurt am Main: Centre for European Economic Research and Ernst & Young).
41. Estrin, S. (2002) 'Competition and Corporate Governance in Transition, Journal of Economic Perspectives, 16(1): 101-24.
42. Estrin, S. and Holmes, P.M., Estrin, Saul and Meyer, Klaus E., (eds) (2004) Investment Strategies in Emerging Markets(Aldershot, UK and Northampton, MA, USA: Edward Elgar).
43. Falcetti, E., Raiser, M. and Sanfey, P. (2002) 'Defying the Odds: Initial Conditions, Reforms, and Growth in the First Decade of Transition, Journal of Comparative Economics, 30: 229-50.
44. Globerman, S. and Shapiro, D. (2003) Governance Infrastructure and US Foreign Direct Investment, Journal of International Business Studies, 34(1): 19-39.
45. Goold, M. and Campbell, A. (1998) 'Desperately Seeking Synergy, Harvard Business Review, 76(5): 131-43.
46. Goold, M., Campbell, A. and Alexander, M. (1994) Corporate-level Strategy: Creating Value in the Multibusiness Company (New York: John Wiley & Sons, Inc).
47. Graebner, M.E. and Eisenhardt, K.M. (2004) 'The Seller's Side of the Story: Acquisitions as Courtship and Governance as Syndicate in Entrepreneurial Firms, Administrative Science Quarterly, 49(3): 366-404.
48. Grant, R.M. (1991) 'The Resource-Based Theory of Competitive Advantage: Implications for Strategy Formulation', California Management Review, 33(3): 114-35.
49. Gregory, P. and Stuart, R. (2004) Comparative Economic Systems for the 21st Century (New York: Houghton Mifflin) ch. 1.
50. Gruber, H. (1999) 'An Investment View of Mobile Telecommunications in the European Union', Telecommunications Policy, 23: 521-38.
51. Handley, P. (2001) 'Mobile Telecom Strategies in Europe-Identifying the Risk, Datamonitor, PLC.
52. Hansson, A.H. and Tombak, T. (1996) 'Banking Crises in The Baltic States: Causes, Solutions, and Lessons', SITE Working paper no 112, Stockholm School of Economics, (http://web.hhs.se/site/Publications/workingpapers/workingpapers.htm, last accessed March 2006).
53. Harrison, J.S., Hitt, M.A. and Hosskisson, R.E. and Ireland, D.R. (1991) 'Synergies and Post-acquisition Performance: Differences Versus Similarities in Resource Allocations, Journal of Management, 17(1): 173-90.
54. Haspeslagh, P.C. and Jemison, D.B. (1991) Managing Acquisitions-Creating Value through Corporate Renewal (New York: Free Press).
55. Héjja, R. (1996) MATÁV-Privatization of the Hungarian Telecommunication Company, Presentation at CEEPN Academy, Portoroz, October.
56. Hennart, J.F. (1988) 'A Transaction Costs Theory of Equity Joint Ventures, Strategic Management Journal, 9: 361-74.
57. Hennart, J.F. and Park, Y.R. (1993) 'Greenfield vs Acquisition: The Strategy of Japanese Investors in the United States', Management Science, 39: 1054-70.
58. Hitt, M., Harrison, J., Ireland, R. D. and Best, A. (1998) 'Attributes of Successful and Unsuccessful Acquisitions of US Firms, British Journal of Management, 9(2): 91-114.
59. Holland, D. Sass, M., Benacek, V. and Gronicki, M. (2000) 'The Determinants and Impact of FDI in Central and Eastern Europe, Transnational Corporations, 9(3): 163-212.
60. Hunya, G. (2002) Recent Impacts of Foreign Direct Investment on Growth and Restructuring in Central European Transition Countries, Vienna, Vienna Institute for Comparative Economic Studies WIIW, Research Reports: 245.
61. Jakobsen, K. (2006) 'First Mover Advantages in Central and Eastern Europe: A Comparative Analysis of Performance Measures, Journal of East-West Business, 12.
62. Javorcik, B.S. (2004) 'Does Foreign Direct Investment Increase the Productivity of Domestic Firms? In Search of Spillovers through Backward Linkages', American Economic Review, 94(3): 605-28.
63. Jensen, C. (2002) 'Foreign Direct Investment, Industrial Restructuring and the Upgrading of Polish Exports', Applied Economics, 34: 207-17.
64. Jensen, C. (2004) 'Localised Spillovers in the Polish Food Industry-the Role of FDI in the Development Process', Regional Studies, 38: 533-48.
65. Jones, C. (1997) 'Baltic States, Go to the Top of the Class', The Banker, April: 57-60.
66. Jones, D.C. and Mygind, N. (1999) 'The Nature and Determinants of Ownership Changes after Privatization: Evidence from Estonia', Journal of Comparative Economics, 27: 422-41.
67. J.P. Morgan (2002) CEE Incumbents, Industry Analysis, 15 January, London.
68. Kalmi, P. (2002) On the (In)stability of Employee-ownership: Estonian Evidence and Lessons for Transition Economies, PhD Dissertation, May, CEES, Copenhagen Business School: Copenhagen.
69. Kalotay, K. and Hunya, G. (2000) 'Privatization and FDI in Central and Eastern Europe', Transnational Corporations, 9(1): 39-66.
70. Karli, P., Slaby, J. and Powierza, A. (2001) Cellular Telephony in Central Europe (Prague: March Wood).
71. Karnitschnig, M. (2004) 'Deutsche Telekom Set to Shop-German Telecom Firm Looks to East Europe for Acquisitions', Wall Street Journal, Eastern edn, New York, 11, August: B.3.
72. Kogut, B. (1996) 'Direct Investment, Experimentation, and Corporate Governance in Transition Economies', in Frydman, R., Gray, C.W. and Rapaczynski, A. (eds.) Corporate Governance in Central Europe and Russia (London and Budapest: Central European University Press) vol. 1: 293-332.
73. Konings, J. (2001) 'The Effects of Foreign Direct Investment on Domestic Firms: Evidence from Firm-Level Panel Data in Emerging Economies', Economics of Transition, 9(3): 619-33.
74. Kornai, J. (1992) The Socialist System-The Political Economy of Communism (Oxford: Clarendon Press).
75. Lankes, H.P. and Venables, A.J. (1996) 'Foreign Direct Investment in Economic Transition: the Changing Pattern of Investment', Economics of Transition, 4(2): 331-47.
76. Lewandowski, M. (2001)Fuzje i przejęcia w Polsce na tle Tendencji światowych (Mergers and Acquisitions in Poland in the Frame of World Tendencies) (Warsaw: WIG Press).
77. LFMI (2000) 'Privatization in Lithuania', Lithuanian Free Market Institute, www. freema.org/Research/privatization.phtml (accessed August 2005).
78. Listing Prospectus (2003) Deutsche Telekom AG as Guarantor for the Bonds Issued by Deutsche Telekom International Finance B.V., 23 May.
79. Lovino, I. (2002) Foreign Direct Investment in the Candidate Countries: Sector and Country Composition (Brussels: Statistical Office of the European Communities, Statistics in Focus, Economy and Finance) Theme 2-55.
80. Lyles, M. and Salk, J. (1996) 'Knowledge Acquisition from Foreign Parents in International Joint Ventures: An Empirical Examination in the Hungarian context', Journal of International Business Studies, 27: 877-903.
81. Mallya, T. J. S. and Kukulka, Z. and Jensen, C. (2004) 'Are Incentives a Good Investment for the Host Country? An Empirical Evaluation of the Czech National Incentive Scheme', Transnational Corporations, 13(1): 109-48.
82. Markides, C.C. and Williamson, P.J. (1994) 'Related Diversification, Core Competences and Corporate Performance', Strategic Management Journal, 15 (Summer Special Issue): 149-65.
83. McGahan, A.M. and Porter, M.E. (1997) 'How Much Does Industry Matter, Really?, Strategic Management Journal, 18 (Summer Special Issue): 15-30.
84. Meyer, K.E. (1995) Direct Foreign Investment in the Early Years of Economic Transition. A Survey, Economics of Transition, 3(3): 301-20.
85. Meyer, K.E. (1998) Direct Investment in Economies in Transition (Aldershot: Edward Elgar).
86. Meyer, K.E. (2001a) 'Institutions, Transaction Costs and Entry Mode Choice in Eastern Europe', Journal of International Business Studies, 31(2): 357-67.
87. Meyer, K.E. (2001b) International Business Research in Transition Economies, Oxford Handbook of International Business (Oxford: Oxford University Press): 716-59.
88. Meyer, K.E. (2002) 'Management Challenges in Privatization Acquisitions in Transition Economies, Journal of World Business, 37(4): 266-76.
89. Meyer, K.E. (2004) 'Perspectives on Multinational Enterprises in Emerging Economies, Journal of International Business Studies, 34(4): 259-77.
90. Meyer, K.E. and Estrin, S. (2001) 'Brownfield Entry in Emerging Markets, Journal of International Business Studies, 31(3): 575-84.
91. Meyer, K.E. and Gelbuda, M. (2006) 'Process Perspectives in International Business Research, Management International Review, 46(2): 143-64.
92. Meyer, K.E. and Jensen, C. (2003) 'Foreign Investor Strategies in View of EU Enlargement', ch. 16 in Stüting, H.J., Dorow, W., Claassen, F. and Blazejewski, S. (eds) Change Management in Transition Economies-Integrating Corporate Strategy, Structure and Culture (New York: Palgrave Macmillan): 291-308.
93. Meyer, K.E. and Jensen, C. (2005) 'Foreign Direct Investment and Government Policy in Central and Eastern Europe, in Grosse, R. (ed.) International Business and Governments in the 21st Century (Cambridge: Cambridge University Press): 119-45.
94. Meyer, K.E. and Lieb-Dóczy, E. (2003) 'Post-Acquisition Restructuring as Evolutionary Process, Journal of Management Studies, 40(2): 459-82.
95. Meyer, K.E. and Nguyen, H.V. (2005) 'Foreign Investment Strategies and Sub-national Institutions in Emerging Markets: Evidence from Vietnam', Journal of Management Studies, 42(1): 63-93.
96. Meyer, K.E. and Peng, M.W. (2005) 'Theorizing in Central and Eastern Europe: Transaction, resources and institutions', Journal of International Business Studies, 35: 601-20.
97. Meyer, K.E. and Pind, C. (1999) 'The Slow Growth of Foreign Direct Investment in the Soviet Union Successor States', Economics of Transition, 7(1): 201-14.
98. Meyer, K.E. and Tran, Y.T.T. (2006) 'Market Penetration and Acquisition Strategies for Emerging Economies', Long Range Planning, 39(2): 177-97.
99. Mihalyi, P. (2000) FDI in Hungary-the Post-communist Privatization Story Re-considered, Paper presented at UNCTAD Conference, 2-3 March, Vienna.
100. Milanovic, B. (1998) Income, Inequality, and Poverty Duringthe Transition from Planned to Market Economy (Washington, D. C: World Bank).
101. Morisset, J. and Neso, O.L. (2002) 'Administrative Barriers to Foreign Investment in Developing Countries, Policy Research Working Paper 2848 (Washington, D.C.: World Bank).
102. Mygind, N. (2000) Ten Years of Transition, CEES Working Paper Series (Copenhagen: Copenhagen Business School).
103. North, D. (1990) Institutions, Institutional Change, and Economic Performance (New York: Norton).
104. OECD (1995) Assessing Investment Opportunities in Economies in Transition (Paris: Organisation for Economic Cooperation and Development).
105. Orazem, P.F. and Vodopivec, M. (1997) 'Value of Human Capital in Transition to Market: Evidence from Slovenia', European Economic Review, 41: 893-903.
106. Peng, M.W. (2000) Business Strategies in Transition Economies (Thousand Oaks: Sage).
107. Peng, M.W. (2003) 'Institutional Transitions and Strategic Choices', Academy of Management Review, 28(2): 275-96.
108. Price water house Coopers (2001) 'Central & Eastern European Mergers & Acquisitions Survey', Mimeo, [www document] www.pwcglobal.com/mandance.
109. Pye, R. (1998) 'Foreign Direct Investment in Central Europe: Experiences of Major Western Investors', European Management Journal, 16(4): 378-89.
110. Rathe, K. (2001) Deutsche Telekom in Transition-Liberalisation in the German Telecommunications Marketand the Development of Deutsche Telekom AG 1999-01, Unpublished manuscript, 3rd draft.
111. Reed, S. (2005) 'A Telecom King Broadens His Horizons', Business Week online, 27 December.
112. Regos, Zs. (1996) 'Fovonalak-Mellékkörülmények. A MATÁV Privatizációja' (Main Lines-Incidental Facts), Figyelo, 19 (September): 15-17.
113. Resmini, L. (2000) 'The Determinants of Foreign Direct Investment in the CEECs', Economics of Transition, 8(3): 665-89.
114. Reznák, R. (2005) Árazás, Mint a Versenystratégia Egyik Legfontosabb Eleme (Pricing as One of the Most Important Components of Competitive Strategy), Unpublished MBA Thesis, BKÁE: Budapest.
115. Rosenbuch, S. (2005) 'Can Anyone Answer Vodafone?', Business Week online, 28 July. Rumelt, R.P. (1991) 'How Much Does Industry Matter?', Strategic Management Journal, 12(3): 167-85.
116. Sabat, H.K. (2002) 'The Evolving Mobile Wireless Value Chain and Market Structure', Telecommunications Policy, 26: 505-35.
117. Schwartz, A. and Haggard S. (1997) 'Mutual Consent: Privatization Policy and Foreign Direct Investment in Central and Eastern Europe', Working paper, Round table on International Economy, Berkeley, June.
118. Sinani, E. and Meyer, K.E. (2004) 'Identifying Spillovers of Technology Transfer from FDI: the Case of Estonia', Journal of Comparative Economics, 32: 445-66.
119. SMFA (1991) 'Economic Survey of the Baltic Republics', Swedish Ministry for Foreign Affairs, Stockholm.
120. Spar, D.L. (1993) 'Foreign Direct Investment in Eastern Europe', in Keohane, R.O., Nye, J.S. and Hoffmann, S. (eds) After the Cold War-International Institutions and State Strategies in Europe (Cambridge: Harvard University Press) 286-309.
121. Statistical Office of Poland (2003) Statistical Yearbook of Poland 2002 (Warsaw: Statistical Office of Poland).
122. Steensma, H.K., Tihanyi, L., Lyles, M.A. and Dhanaraj, C. (2005) 'The Evolving Value of Foreign Partnerships in Transitioning Economies', Academy of Management Journal, 48(20): 213-35.
123. Swaan, W. (1997) 'Knowledge, Transaction Costs and the Creation of Markets in PostSocialist Economies', in P.J. Hare and J. Davis (eds) Transition to the Market Economy (London: Routledge): 53-76.
124. Telenor ASA (2004) SEC Form 20-F, Annual Report for the Fiscal Year Ended 31 December, Washington, D.C.
125. Tóth, K. (2004) Synergies and Reality: The Effect of Acquisition Management on the Realization of Synergies, Unpublished Ph.D. Thesis, Budapest University of Economic Sciences and Public Administration, Budapest, Hungary.
126. Tóth, S.G. (2002) The Merger of Kereskedelmi és Hitelbank Rt. and ABN Amro (Magyar) Bank with Regard to Trends in the Banking Sector, Thesis work, Budapest University of Economic Sciences, Budapest, Hungary.
127. Trillas, F. (2002) 'Mergers, Acquisitions and Control of Telecommunications Firms in Europe, Telecommunications Policy, 26: 269-86.
128. Uhlenbruck, K. (2004) 'Developing Acquired Foreign Subsidiaries: The Experience of MNEs in Transition Economies', Journal of International Business Studies 35: 109-23.
129. Uhlenbruck, K. and De Castro, J. (2000) 'Foreign Acquisitions in Central and Eastern Europe: Outcomes of Privatization in Transitional Economies, Academy of Manage-ment Journal, 43: 381-402.
130. Uhlenbruck, K., Meyer, K.E. and Hitt, M.A. (2003) 'Organizational Transformation in Transition Economies: Resource-Based and Organizational Learning Perspectives, Journal of Management Studies, 40(2): 257-82.
131. UNCTAD (2000) World Investment Report 2000: Mergers and Acquisitions and Development (Geneva: UN).
132. UNCTAD (2003) World Investment Directory-Central and Eastern Europe, UN Conference on Trade and Development, Geneva.
133. UNCTAD (2004a) Interactive Database, United Nations Conference on Trade and Development, Geneva, [www document] www.unctad.org.
134. UNCTAD (2004b) World Investment Report 2004: The Shift Towards Services, UN Conference on Trade and Development, Geneva, 72-9.
135. UNCTAD (2005) World Investment Report 2005: Transnational Corporations and the Internationalization of R&D (Geneva: UN).
136. UNECE (2004) Economic Survey of Europe 2004-I, (1): 119-43 (United Nations Economic Commission for Europe: Paris).
137. Voszka, E. (1999) 'Privatization in Hungary: Results and Open issues, Economic Reform Today, 2 Center for International Private Enterprise, http://www.cipe.org/publications/fs/ert/e32/e32_03.htm (last accesses March 2006).
138. Wernerfelt, B. (1989) 'From Critical Resources to Corporate Strategy, Journal of General Management, 14(3): 4-12.
139. World Bank (1996) World Development Report 1996: From Plan to Market (Washington, D.C.: World Bank).
140. World Bank (2002) Business Environment and Enterprise Performance Survey II Interactive Dataset: Enterprise Survey in Transition 2002, World Bank, Washington, D.C., www. worldbank.org/governance/beeps2002/.
141. World Bank (2004) World Development Indicators (Washington, D.C.: World Bank).
142. World Bank (2005) Doing Business In (Washington, D.C.: World Bank).
143. Young, S., Hamill, J., Wheeler, C. and Davis, J.R. (1989) International Market Entry and Development (Hemel Hempstead: Harvest Wheatsheaf).