... how formal and informal institutional distance affects equity participation choices. Originality/value This study shows that EMNEs from formerly colonized countries approach cross-border M&As differently, interpreting institutional distance and institution-based view in unique ways. This study...

... Emerald Publishing Limited Licensed re-use rights only Home-country formal institutions Type of diversification Diversification–performance relationship Institution-based view For decades, the effect of product diversification on performance has been a central topic in the strategy...

... contracts and determine regulatory and licensing procedures (Acquaah, 2007). However, enforcement of regulations is weak; therefore, informal institutions often substitute for formal institutions (Zoogah et al., 2015). Africa Institution-based view Emerging markets Corporate political...