The Great Leap Forward: The Transition from Relation-based Governance to Rule-based Governance

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Emerging market multinationals and the theory of the multinational enterprise (2012, unknown): “…information is likely to be dif-ﬁcult to obtain in emerging markets because of the lack of independent market research ﬁrms and because much of the information useful for B-to-B sales is private information shared within local networks from which foreigners are excluded (Li, Park, and Li, 2004).”
Determinants of Locations of Foreign Direct Investment in China (2006, background): “Institutions play a critical role in an emerging market such as China, in terms of strategic decisions and firm performance through their impacts on managerial incentives, transaction costs, and agency behaviours (Li, Park, and Li, 2004; Walder, 1995).”
CSR Communication Intensity in Chinese and Indian Multinational Companies (2009, background): “However, as markets and firms develop, relation-based governance will become inefficient and costly, will be unable to compete with rule-based economies, and will either eventually transform into rule-based economies or will stagnate (Li et al., 2004).”
The Effects of the Governance Environment on the Choice of Investment Mode and the Strategic Implications (2007, unknown): “For a rule-based, public governance to function effectively and efficiently, a reliable, efficient information infrastructure is required so as to provide accurate micro-level information on business activities (Greif, 1997; Li et al., 2004; Milgrom et al., 1990).”