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spørsmålet		svaret
opportunistic behaviour begynn å lære		taking disadvantage of another person's trust out of purely selfish reasons
institutional transitions begynn å lære		fundamental and comprehensive changes introduced to the formal and informal rulesof the game that affect organizations as players
institution-based view begynn å lære		firms and managers rationally pursue their interests and make choices within the given institutional framework; formal and informal institutions are combined to govern firm behaviour
formal institutions begynn å lære		political systems, economic systems, legal systems
political systems begynn å lære		systems of the rules of the game on how a country is governed politically; democracry, authoritarianism
political risk begynn å lære		risks associated with political changes that can negatively impact domestic and foreign firms
economic systems begynn å lære		rules of the game on how a country is governed economically; market economy, command economy
market economy begynn å lære		"invisible hand" of market forces exists
command economy begynn å lære		all factors of production are owned and controlled by the government or the state
the varieties-of-capitalism view begynn å lære		economies have different inherent logics of how markets coordinate economic activity
apprenticeship system begynn å lære		vocational training system for crafts and professions
legal systems begynn å lære		the rules of the game on how a country's laws are enacted and enforced
civil law begynn å lære		codified in books of law
common law begynn å lære		precedents and traditions shape legal tradition
case law begynn å lære		the rule of law that has been created by precedents of cases in court
intellectual property rights begynn å lære		patents, copyrights, trademarks
patents begynn å lære		legal rights awarded by government authorities to inventors of new technological ideas, who are given exclusive (monopoly) rights to derive income from such inventions
copyrights begynn å lære		exclusive legal rights of authors and publishers to publish and disseminate their work
trademarks begynn å lære		exclusive rights of firms to use specific names, brands and designs to differentiate their products from others
institutions (according to Douglas North) begynn å lære		humanly devised constraints that structure political, economic and social interaction
regulatory constraints begynn å lære		formal constraints that consist of formal rules, laws and agreements
normative constraints begynn å lære		half fromal, half informal constraints, that consist of informal expectations, attitudes, and transaction rules; they answer the question of how one should behave
cognitive constraints begynn å lære		informal constraints that consist of broadly shared convictions and cognitive structures; deeply ingrained ground rules
institutions (economists view) begynn å lære		reduce uncertainty; make transaction costs visible
institutions (sociologists view) begynn å lære		shape behaviour
institutional isomorphism begynn å lære		the processes that force a unit within a population to become more similar to other units with a similar institutional context
isomorphism types begynn å lære		coercive (through regulation), mimetic (through imitation), normative (through shared norms)
corporate governance begynn å lære		rules on how shareholders and other stakeholderscan control managers
institutional spheres begynn å lære		the state, the market, civil society
iron hand begynn å lære		corrective approach, rules result from rationalization and regulation of human activities; the state
invisible hand begynn å lære		competitive approach, rules result from free market of supply and demand; the market
intangible hand begynn å lære		cooperative approach, rules result from respect and esteem for, connectedness with, loyalty to the group
varieties of capitalism begynn å lære		Liberal Market Model (anglo-saxon model), Coordinated Market Model (social market model), Asian Model
path dependency begynn å lære		the dependence of economic outcomes on the path of previous outcomes; how history matters, and how it shapes the present
stages of economic development (Douglas North) begynn å lære		1. Trade within the village, 2. Trade beyond the village, 3. Long Distance Trade, 4. Urbanisation, 5. Modern Trade
institutional voids begynn å lære		gaps in the institutional framework; absence of intermediary firms; omissions in regulatory systems on which multinational companies depend
institutional development begynn å lære		process of turning less complex system into a more complex one
institutional transition begynn å lære		changing the system from one, to another type; shock therapy/gradual approach
shock therapy begynn å lære		rapid replacement, all at once (e.g. Poland, Russia)
gradual approach begynn å lære		emphasizes learning and slow adaptation (e.g. China, Vietnam)

IB - Module 3

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