This dissertation consists of three essays broadly centering on external changes and how organizations respond to these change by altering themselves. My investigations focus on knowledge transfer and innovation related firm responses with an emphasis on firms’ especially, Multinational Enterprises’ (MNEs) market strategies such as ownership, governance and location choices and their non-market strategies such as political networking and stakeholder management. I'm particularly interested in emerging countries and the changing institutional environment in those contexts. To study changes occurring in different speeds and varying firm responses to them, I have hand-collected longitudinal datasets for different industries and employed both qualitative and quantitative methodologies: my datasets covers both moderately-dynamic industries such as multinational construction and retailing and as well as more knowledge-intensive industries such as multinational pharmaceutical, electronics and computer & software industries. Chapter 1: MNE Legitimacy in the Eyes of the People: Insights from Libya about Surviving Association with an Overthrown Regime In the first chapter, I investigate how firms respond to changes that are less-anticipated and takes place in a rapid fashion. Differentiating between the learning that MNEs accumulate at the host-countries and related learning they transfer from similar locations, this paper is built upon and extend theories about how MNEs, cope with institutional voids and transitions in relation to their political connections, corporate social responsibility strategies and interactions with stakeholders in the emerging countries. In order to do so, I conducted an in-depth qualitative study on how different MNEs with different interaction levels to the Gaddafi Regime, society, tribes and the new government in Libya were affected by the Arab Spring. In this paper, using the Arab Spring as a natural experiment and employing Qualitative Comparative Analysis (QCA) and Fuzzy-set methodology, we build new theory on how MNEs can survive and even thrive during times of fast institutional transitions. We introduce “the legitimacy of the government” as an alternative measure of host-country political environment assessment and suggest that MNEs that deepened, broadened and expanded their political connections and strategies to multiple political actors and complemented them with CSR related activities fare better major institutional changes at the host countries. In addition, the results suggest that host-country only specific learning can lock-in MNEs not to see the changing “tea leaves” if they don't complement it with their recent related experiences from their operations other countries. Chapter 2: The Effect of Different Post-Entry Experiences on Changing Market Entry Choices The second chapter focuses on post-entry operations of multinational retail firms that are required to offer a standardized service for an effective knowledge redeploying, but also need to recombine their HQ knowledge with the knowledge that the subsidiaries possess, to ensure adaptation to the local conditions at the same time. The change, now being the multiple uncertainties related with multinational retail chains’ internationalization into different locations, I first analyze how these firms decide on efficient firm boundaries and positioning after their entry into the host countries, and then investigate effects of these post-entry choices on their performance at the host-countries. Constructing a novel data-set of MNEs post-entry commitments in the host countries, my study reviews MNEs’ behavior after they have entered a foreign country and individually tracks their alteration of its ownership and retail format changes over time within that country starting from 1975 and until 2013. This paper provides a more process-based understanding of MNEs’ choices and strategies at the host countries, which extends the scant literature on mode-dynamics. The empirical results show that; MNEs are more likely to change their governance modes after the negative initial performance rather than after the positive initial performance, however, they tend to act completely in the reverse fashion for their decisions regarding changing their initial format choices at post-entry. I also show that the MNEs that change these initial market entry choices regardless of the initial performance have higher probability of survival at the host countries at post-entry, controlling for the dissimilarity between the home and the host countries and after taking into consideration of the possible selection effect of initial market entry decisions. Chapter 3: Differential Effects of Local, Foreign Firms and Supra-National Institutions on the Pace of Institutional Change in Developing Countries In the third chapter, I track changes in local innovation process and IP regime at the same time in the knowledge intensive patent areas such as pharmaceuticals, computer, software and electronics in developing countries. My focus is on Trade Related Intellectual Property Standards (TRIPS) agreement which was signed between developed and developing countries that made it compulsory in emerging countries the protection of product patents along with the process patents. Developing countries were given a 10-year allowance until January 1, 2005, in order to bring their patent system into line with TRIPS obligations as well as other flexibilities. Interestingly, while some of the developing countries such as India used these flexibilities and waited until the end of the 10-year allowance, some countries such as Brazil, Korea and Turkey ratified the TRIPS agreement and put the new regulations into action right away. We explain the variation in developing countries’ rate of TRIPS compliance by new institutionalism and co-evolutionary perspectives, by presenting a framework that shows effects of different actors within innovation systems on different trajectory and rates of institutional change. The results indicate that higher composition of local firms result in slower change of the IP Regime in developing countries, while higher the Advanced Country Multinationals, faster the change. I also find that supranational institutions such as IMF moderate this relationship. / Business Administration/Strategic Management

This thesis examines the enduring nature of child labour on Ivory Coast’s cocoa farms. The thesis shows that the role of the state in promoting instead of inhibiting child labour practices in the Ivory Coast favours the thriving of challenging factors to any prospect of a total abolition. This thesis focuses on the influences of traditions customary practices underpinning the child labour practice. The thesis shows the adverse role of Multinational Corporations operating in Ivory Coast’s cocoa industry. This thesis shows that despite Ivory Coast being a signatory to the ILO Convention on the Worst Forms of Child Labour 1999 (No. 182), the United Nations Convention on the Rights of the Child (1999) as well as other regional and sub-regional legal instruments, the appropriate legal and policy response to child labour has yet to be provided. The thesis, therefore, offers the pedagogic approach as the shifting factor.

The purpose with this research is to increase the understanding of how important knowledge sharing is within companies. It is also important to examine the institutional environment within countries and how this can affect a small and medium sized enterprise. In order to research these aspects we formulated a research question that resulted in; How can the institutional environment in different markets affect the knowledge sharing within an SME?                                                                    In our literature review we define what knowledge is and how it can be shared within companies. To get the understanding of the institutional environment we used a model that defines the different aspects that can impact companies within the society. We also examine what categories small and medium sized enterprises (SME) compared to large firms. To gather our information for our research we used a qualitative method with an abductive approach. We conducted a case-study about Scandinavian Orthopedic Laboratory (SOL). In the empirical chapter the respondents answers were structured so that we in the analytic part could compare and analyze the answers compared to the theory.   The conclusion indicates that the institutional factors within the society do affect companies, some factors more than others. Being an SME has made the knowledge sharing easier but it also indicates that it is important that everyone is included in the decision-making. / Syftet med den här uppsatsen är att öka förståelsen om hur viktigt kunskapsöverföring är inom företag. Det är också viktigt att undersöka den institutionella miljön inom länder och hur den miljön kan påverka små till medelstora  företag. För att kunna undersöka dessa olika aspekter har vi formulerat en forskningsfråga; Hur kan den institutionella miljön inom olika marknader påverka kunskapsöverföring inom ett SME?   I vårt litteraturavsnitt definierar vi vad kunskap är och hur kunskap kan bli överfört inom företag. För att få en förståelse om den institutionella miljön använde vi oss av en modell som definierar olika aspekter som kan påverka företag inom samhället. Vi undersöker också vad som kategoriserar ett litet till medelstort företag (SME) jämfört med ett stort företag. För att få den informationen som vi behöver för vår undersökning har vi använt oss av en kvantitativ undersökningsmetod med en abduktiv ansats. Vi genomförde en fallstudie om Scandinavian Orthopedic Laboratory (SOL). I det empiriska kapitlet har intervjupersonerna svar blivit konstruerade så att vi i det analytiska kapitlet kunde jämföra och analysera svaren jämfört med teorin.   Slutsaten visar på att de institutionella faktorerna inom ett samhälle påverkar företag, vissa mer än andra. Att vara ett litet till medelstort företag har gjort kunskapsöverföringen enklare men det visar också på att alla inom företaget ska vara inkluderade i beslutsfattandet.

This thesis seeks to understand the relationship between decentralized service delivery arrangements and the institutional performance of local government in Pakistan. This is achieved by examining the structures and processes associated with local governance, and situating public sector organizations in their wider context. The key aim of this thesis was to empirically evaluate the relationship between decentralization and institutional performance. The thesis contends that problem of service delivery can only be understood by examining the whole system of service delivery. Although, the focus of the research was on public sector management, however, it is argued that public sector organizations cannot be separated from their political environment. To address this concern, the thesis developed a conceptual framework based on three theoretical perspectives; the economic, political and New Public Management. Each perspective focused on a different level of analysis and identified a different way of explaining the phenomenon of decentralization and its impact on institutional performance. The study utilised a comprehensive research methodology to study the link between decentralization and performance through a multiple case study approach. The main empirical elements of the research were a community survey of two communities in two local authorities, an organizational survey of two sectors - education and water and sanitation. Detailed semi-structured interviews were undertaken with multiple stakeholders at various levels of service delivery. The research findings indicate that there is a relationship between decentralization and institutional performance; however the contextual environment plays a significant role in affecting the performance of service provision. The empirical findings indicate that decentralization reforms in developing countries remain focused on structural decentralization and need strong political and bureaucratic commitment for real autonomy to be transferred down the hierarchy. One implication of this research is that it provided a comprehensive assessment of the decentralized service delivery model in Pakistan and identified the nature of reforms developing countries are taking up and the constraints on public sector organizations, and hence contributed to the emerging literature on public management reforms in developing countries (McCourt 2008, McCourt, Martin 2001).

A presente dissertação tem como objeto central de estudo o conceito de Desenvolvimento mediante a compreensão das estruturas historicamente estabelecidas pelo fruto do Produto Social. Para entender tal conceito, faz-se necessário percorrer o caminho das discussões com a tarefa de desvelar como as aspirações individuais interferem no coletivo e como o resultado coletivo interfere na particularidade dos indivíduos. O texto traz uma discussão sobre os caminhos do Desenvolvimento (crescimento e bem-estar), da importância do Ambiente Institucional na trajetória do desenvolvimento e apresenta um estudo de caso aplicado à gestão de bancos de fomento, em especial, o Novo Banco de Desenvolvimento do BRICS. Apesar das expectativas positivas e do cenário promissor de crescimento dos BRICS, a incerteza sempre rodeou o ambiente institucional de tais países pelo modo de relacionamento político-social causado pela ambiguidade de governantes e empresários e da inércia social perante os fatos. Neste contexto, o Novo Banco de Desenvolvimento foi criado para estreitar as relações intragrupo e ampliar os esforços para superar os obstáculos do desenvolvimento via ambiente institucional. / This dissertation has as main object of study the concept of development by understanding of historically existent structures as a result of Social Product. To understand the concept, it is necessary to pursue the course of discussions with the task of revealing how individual aspirations interfere with collective and how the collective result interferes with individual particularities. The text provides a discussion on the course of development (growth and well-being), the importance of institutional environment in the course of development and a case study of development banks, in particular, the New Development Bank of BRICS. Despite positive expectations and the favorable scenario for the growth of the BRICS countries, the uncertainty has always surrounded the BRICS countries by the mode of social-political relationship caused by the ambiguity of politicians, businessmen and the social inertia facing the facts. In this context, the New Development Bank was created to strengthen intragroup relations and expand efforts to overcome obstacles to development across institutional environment.

Dans le cadre de la Nouvelle Economie Institutionnelle, Douglass C. North a développé une nouvelle approche théorique des institutions pour donner une nouvelle explication au développement économique. L’une des explications est celle du déterminant institutionnel des IDE. En prenant le Cambodge comme champ d’étude, cette thèse a pour objectif de participer à la vérification empirique de la relation entre institution et IDE, en montrant que l’environnement institutionnel relativement peu solide du Cambodge décourage les investisseurs. Actuellement, le Cambodge demeure une option pour les entreprises qui cherchent une localisation pour s’implanter, mais les risques associés à ces investissements liés à son encadrement légal et règlementaire perçus par les firmes étrangères restent parmi les inquiétudes. Les réformes institutionnelles n’ont alors pas seulement pour buts de rendre à la société un ordre public juste et des services publics appropriés et efficace, mais aussi de favoriser les investissements directs étrangers dont le rôle dans le développement est déjà confirmé. / As part of the New Institutional Economics, Douglass C. North, has developed a theory of institutions as a new approach to the economic development study in which institutions play a key role. According to this theory, the presence of a strong institutional environment accelerates the development process; among the explanation, the determinant role of the institutional environment for FDI. Taking Cambodia as field of study, this dissertation tends to provide more evidence of this institution-FDI relation by showing that the relatively weak institutional environment in Cambodia discourage foreign investors. With its advantages, the kingdom is perceived by foreign firms as an attractive option for investment, but the investment risks resulting from the country’s legal and regulatory framework perceived by foreign firms, are among the concerns. Thus, the institutional reforms are not only used to give to society the public order, the adequate and effective public services with rule of law but also to promote foreign direct investments whose role in development has already confirmed.

Este trabalho tem o objetivo de conhecer a cultura da cana-de-açúcar no estado de São Paulo, focalizando de modo geral seu desenvolvimento, sua evolução histórica e os contextos, que esta cultura sofreu nas mudanças do período 1950-2010. A partir do começo do século XX a região Centro-Sul passou a ser o polo dinamizador do desenvolvimento brasileiro e, em pouco tempo tornou-se o mais importante mercado consumidor interno de açúcar e também como processador da cana colhida. Segue nessa linha a Segunda Guerra Mundial, e a crise do petróleo na década de 1970, que provocaram mudanças institucionais, como o PROÁLCOOL, Planalsucar e PRO-OESTE, alicerçando um Ambiente Institucional de incentivos que impactará na distribuição da cultura canavieira nas mesorregiões do Estado. Houve, entretanto, a substituição de outras culturas agrícolas no Estado, e a consequente diminuição, ou em maior grau, o aumento em termos de mesorregiões e municípios. Além disso, o sistema aumentou sua produção baseado em maior frequência por aumentos de área (Contribuição de Área), indicando o caráter extensivo do plantio. No entanto, quando é observado o período como um todo, evidencia-se a Contribuição de Rendimentos, mostrando o papel do melhoramento em proporcionar não somente a produtividade, mas a melhor adaptação da cultura em áreas que começaram a se destacar após os anos 1950. / This Project intends to know the sugar cane culture in São Paulo state focusing, in a general view, the development and historical evolution, as the contexts which this culture passed by during the changes in the periods from 1950 to 2010. Since the beginning of the 20th century, the South-Central region started promoting dynamics in Brazilian development and, in a short time, it became the most important internal market costumer of sugar and also a processor of harvest cane. Continuing at this point, we have the Second World War and the petrol crisis in the 70s, causing institutional changes, as PRÓALCOOL, Planalsucar and PRO-OESTE building an institutional environment of incentives that impact the distribution of the culture cane in the middle regions of the state. However, there was the substitution of other agriculture cultures in the state, and the consequent decreasing or, in higher degree the increasing, talking about middle regions and cities. Besides that, the system increased their production based on greater frequency for increasing on the area (Contribution for the area), indicating the extensive plantation nature. However, when the period is observed at large is noticed the Contribution of the yields, showing the upgrade role in promoting not only the productivity, but also the better adaptation of this culture in areas that started showing up after the 50s.

Submitted by Maicon Juliano Schmidt (maicons) on 2015-04-14T12:06:07Z No. of bitstreams: 1 Clarice Da Fontoura Paim.pdf: 1834965 bytes, checksum: 7a342fd7b51a64238c8cf78d64b11846 (MD5) / Made available in DSpace on 2015-04-14T12:06:07Z (GMT). No. of bitstreams: 1 Clarice Da Fontoura Paim.pdf: 1834965 bytes, checksum: 7a342fd7b51a64238c8cf78d64b11846 (MD5) Previous issue date: 2012-08-23 / Nenhuma / A presente tese investiga a internacionalização de empresas em países emergentes a partir da análise da relação de três temas relevantes para o estudo de negócios internacionais: as teorias de internacionalização de empresas, a abordagem baseada em recursos e a abordagem institucional. A importância do ambiente institucional (MEYER; MUDAMBI; NARULA, 2011; DUNNING; LUNDAN, 2008; NORTH, 1993) e dos recursos (BARNEY, 2001; PENG, 2001) nos processos de internacionalização tem sido objeto de estudos recentes. Observa-se, no entanto, que essas questões muitas vezes são abordadas na literatura de negócios internacionais de forma desconectada, dificultando o entendimento de fenômenos mais contemporâneos, como os que envolvem a internacionalização para países emergentes (FLEURY; FLEURY, 2007). Os países emergentes passaram a ser locais prioritários nos planos de investimentos das empresas transnacionais na atualidade (UNCTAD, 2009) e suas peculiaridades, principalmente no âmbito institucional, podem influenciar as estratégias de investimento e a configuração dos recursos das empresas multinacionais (MEYER ET AL, 2008). Diante do exposto a presente tese buscou analisar como o ambiente institucional influencia a mobilização das competências de uma empresa multinacional que realizou investimento direto externo em um país emergente. Para alcançar o objetivo foi realizado um estudo de caso através de uma perspectiva qualitativa (RICHARDSON, 1999; DENZIN; LINCOLN, 2006; FLICK, 2009) na TAP Engenharia e Manutenção Brasil, subsidiária do Grupo TAP, empresa européia com sede em Lisboa, Portugal. As técnicas de coleta de dados incluíram entrevistas semiestruturadas e dados secundários. Os dados foram analisados por meio de análise de conteúdo utilizando como apoio para a análise o software QSR NVivo 9. Os resultados obtidos permitiram identificar que as motivações econômicas e a busca por vantagens de propriedade, localização e internalização que predominaram na decisão da empresa pelo investimento direto externo, conforme as premissas do Paradigma Eclético (DUNNING, 1988). Utilizando as dimensões propostas por Kauffmann ET AL (2010) identificou-se que, embora não tenha sido um fator decisivo, a qualidade do ambiente institucional influenciou positivamente a atração do investimento direto externo (AMAL; TOMIO; RABOCH 2010; NORTH, 1990; MUDAMBI; NAVARRA, 2002). Através da análise do processo de reconfiguração de recursos (FELDMAN, 2004) e da análise da trajetória da subsidiária como um fenômeno path dependent (GOLDSTONE, 1998; TORFING, 1999; DAVID, 2000; MAHONEY, 2000; HOFF, 2008), observou-se que no período de 2006 a 2011 a TAP como empresa multinacional transferiu e buscou desenvolver novas competências na subsidiária (RUGMAN; VERBEKE, 2001). Entretanto, aspectos culturais e regulatórios do ambiente institucional do contexto local influenciaram a utilização e exploração dos recursos da empresa e, por conseguinte, as suas capacidades e competências organizacionais. O estudo contribui para evidenciar a importância do ambiente institucional dos países emergentes não apenas para a atração do investimento direto externo, mas também como um elemento que pode influenciar a ativação de recursos e competências da empresa e a obtenção de vantagem competitiva. / The present dissertation investigates the internationalization of firm in emerging countries from the analysis of the relation of three relevant themes for the study of international business: the theory of the internationalization of firms, the approach is based on resources and institutional approach. The importance of the institutional environment (MEYER; MUDAMBI; NARULA, 2011; DUNNING; LUNDAN, 2008; NORTH, 1993) and of resources (BARNEY, 2001; PENG, 2001) in the internationalization process has been object of recent studies. It is noted, however, that this inquires are very often discussed in the international business literature in a disconnected way, inhibiting the understanding of more contemporary phenomena, as the ones which involves the internationalization to emerging countries (FLEURY; FLEURY, 2007). The emerging countries became priorities in the investment plans of transnational companies nowadays (UNCTAD, 2009) and its peculiarities, mainly in the institutional ambit can influence the investment strategies and the conformation of the multinational firms (MEYER ET AL, 2008). Given this, the present thesis sought to analyze how the institutional environment influences the mobilization of competencies of a multinational company which make foreign direct investments in an emerging country. To reach the goal a case study was performed through a qualitative perspective RICHARDSON, ET AL, 1999; DENZIN; LINCOLN, 2006; FLICK, 2009) at TAP Engineering and Maintenance Brazil, subsidiary of TAP Group, an European company with headquarter in Lisbon, Portugal. The data collection techniques’ included semi-structured interviews and secondary data. The data were analyzed through the analysis of contents using as support of the software QSR NVivo 9 review. The results obtained allowed to identify that the economic motivation and the seek for advantages of propriety, location and internalization predominated in the decision of the company by the foreign direct investments, according to the premises of Eclectic Paradigm (DUNNING, 1988). Using the dimensions proposed by Kauffman ET AL (2010) it was identified that, although it was not a decisive factor, the quality of the institutional environment positively influenced the foreign direct investment attraction (AMAL; TOMIO; RABOCH 2010; NORTH, 1990; MUDAMBI; NAVARRA, 2002). Through the analysis of the resources reconfiguration process (Feldman, 2004) and the trajectory of the subsidiary as a path dependent phenomenon (GOLDSTONE, 1998; TORFING, 1999; DAVID, 2000; MAHONEY, 2000; HOFF, 2008), it was noticed that from the period of 2006 to 2011, TAP, as a multinational company, transferred and sought to develop new competencies in the subsidiary (RUGMAN; VERBEKE, 2001). However, cultural and regulatory aspects of the institutional environment of the local context influenced the use and exploitation of the company resources and therefore their capacities and organizational competencies. The study helps to highlight the importance of the institutional environment of emerging countries not only for the attraction of foreign direct investment, but also as an element that can influence the activation of resources and expertise of the company and gaining competitive advantage.

A construção dessa dissertação partiu das reflexões acerca das mudanças restritivas ao consumo e as implicações socioeconômicas sobre a cadeia agroindustrial do tabaco. Em vigência desde 2005 no Brasil, a Convenção-Quadro de Controle do Tabaco (CQCT) agrava os atritos e a disputa entre os diversos agentes interessados, tanto na promoção quanto no combate através de diversas medidas restritivas suscitando, desse modo, incertezas quanto ao rumo das regiões produtoras. O país é o segundo maior produtor mundial e o maior exportador de tabaco em folhas. O Rio Grande do Sul, objeto desse estudo, é o estado brasileiro com maior produção e envolve 84 mil famílias no cultivo, em 274 municípios. Dada a importância do setor, esse estudo tem como objetivo analisar a cadeia agroindustrial do tabaco no RS, a partir das mudanças institucionais derivadas da CQCT. A pesquisa tem caráter qualitativo e os dados primários foram coletados através de entrevistas, com o auxílio de roteiros semiestruturados e questionários junto a instituições formais, organizações formais e setores de apoio ligados à cadeia, sob o recorte do RS. A seleção, caracterizada por critério de conveniência, buscou a pluralidade de discursos sobre as possíveis mudanças na cadeia agroindustrial do tabaco no RS, a partir da adesão ao tratado pelo país. Em termos conceituais, este trabalho fundamenta-se em torno de dois eixos centrais, que apresentam relevância no estudo: Cadeias Agroindustriais, sob o ponto de vista de suporte analítico e, pelo aporte teórico, a Nova Economia Institucional (NEI), com ênfase em Instituições Formais. As instituições estão presentes no ambiente interferindo no comportamento dos agentes através das regras formais para a manutenção da ordem e do desenvolvimento da sociedade. O que se pode constar é que o país vem se destacando com suas medidas de controle e combate ao tabagismo. Não obstante, merecem destaque os avanços das políticas públicas para a agricultura familiar, subsidiando o processo de diversificação da produção e renda. Ainda assim, diante das mudanças no ambiente institucional formal, constata-se que as corporações revelam força e habilidade nas suas relações com os governos nacionais, regionais e locais, como é o caso do RS, onde se concentram as principais subsidiárias das transnacionais tabaqueiras. O apoio governamental, a associação com governos locais e a corroboração de diversas representações constituem um fator crítico para as iniciativas que buscam implantar as medidas propostas pela CQCT. Os investimentos e incentivos consolidados no setor nos últimos anos evidenciam que a cadeia do fumo não está fadada a extinguir-se e isso não implicará numa grande desaceleração da produção a curto e médio prazos. Atrelado a isso, está o aumento da demanda de consumo nos países emergentes, esforços das corporações nos mercados de baixa e média rendas e legislações de controle ao tabaco brandas ou inexistentes. Os interesses entre a cadeia e as políticas de saúde são irreconciliáveis e suas prioridades conflitantes, o que torna o trabalho da implementação da CQCT ainda um caminho bastante árduo e desafiador. / The construction of this dissertation started from the reflections on the restrictive changes to consumption and socioeconomic implications on tobacco agroindustrial chain. Since 2005, in Brazil, the Framework Convention on Tobacco Control (FCTC) aggravates the attrition and the dispute between the various agents interested, in promoting as much in the conflict, through several restrictive measures raising, thus, uncertainties about the direction of the producing regions. The country is the second largest global producer and the largest exporter leaves. Rio Grande do Sul, object of this study, is the Brazilian state with the largest production; it involves 84 thousand families in cultivation, in 274 municipalities. Given the importance of the sector, this study aims to analyze the tobacco agroindustrial chain in RS, from the institutional changes brought about by the FCTC. The research is qualitative and primary data were collected through interviews, with the help of semi structured itineraries and questionnaires, along the formal organizations and chain sector supporting, under the focus of the RS. The selection, characterized as a criterion of convenience, sought the plurality of views on possible changes in the tobacco agroindustrial chain in the RS, from the country's accession to the treaty. This work, in conceptual terms, is based around two central axes, which are relevant in the study: Agroindustrial Chains (AC), from the point of view analytical support and theoretical framework and the New Institutional Economics (NIE), focusing on Formal Institutions. The institutions are present in the environment interfering with the behavior of agents through the formal rules for maintaining the society order and development. What can be evident is that the country has stood out with their control measures and the fight against smoking. Nevertheless, particular emphasis should also be given to, the advances of public policies for family agriculture, subsidizing the diversification process of production and income. Still, given the changes in the formal institutional environment governed by laws, rules and public policies, it appears that corporations reveal strength and skill in its relations with national, regional and local governments, as is the case of the RS, where concentrate the main subsidiaries of transnational tobacco companies. Government support, the association with local governments and corroboration of several representations are a critical factor for initiatives that seek to implement the measures proposed by the FCTC. The investment and incentives in the sector in recent years, shows that the tobacco chain is not doomed to disappear and this will not involve a major slowdown in production in the short and medium term. Coupled to this, is the increase in consumer demand in emerging countries, efforts of corporations on low and middle-income markets and inexistent or mild tobacco control legislation. The interests between the chain and health policies are irreconcilable and their conflicting priorities, which make the work of the implementation of the FCTC still, a pretty hard and challenging way.

O sucesso alcançado pela indústria de Private Equity e Venture Capital (PE/VC) no fomento ao empreendedorismo e na dinamização do setor empresarial norte-americano encorajou diversos países a importar este modelo vencedor de intermediação financeira. Entretanto, a atividade de PE/VC foi criada para desempenhar sob o ambiente institucional norte-americano, fazendo com que estudiosos tais como Gompers e Lerner (1999) levantassem dúvida sobre o sucesso na implantação deste modelo em outros países. Para verificar como a atividade de PE/VC se molda segundo o ambiente, este trabalho conduz um estudo empírico com todas as 65 organizações gestoras de PE/VC com escritórios no Brasil. A pesquisa foi realizada ao final de 2004 e obteve 100% de resposta. A análise foca no tamanho e a na macroestrutura da indústria. Os resultados são plenamente representativos e revelam um setor de PE/VC com tamanho modesto, bastante limitado pelo ambiente econômico-institucional, que prejudica a realização de negócios, embora ofereça oportunidades de investimento que supram as insuficiências do país em termos de infra-estrutura, segurança etc. Como principal resultado, o trabalho identifica similaridades e diferenças do modelo brasileiro de PE/VC em relação ao modelo vigente nos EUA. Os principais pontos em comum são: (i) predominam as organizações independentes que gerenciam recursos de investidores institucionais; (ii) o capital é concentrado regionalmente e em poucas organizações gestoras; (iii) os investimentos tendem a ser feitos próximos às organizações gestoras; (iv) os setores de software e TI são os mais procurados; (v) a qualificação dos gestores é similar a de seus pares internacionais. Por sua vez, as diferenças sugerem que o modelo tenha se adaptado ao novo ambiente institucional: (i) há tendência de investimento em empresas mais maduras, o que é compatível com o baixo nível de empreendedorismo de crescimento e elevada informalidade das pequenas empresas; (ii) O baixo numero de LBOs é compatível com a escassez e o alto custo do crédito; (iii) baixo grau de especialização dos gestores sugere poucas oportunidades de investimento em cada setor; (iv) concentração das organizações no centro financeiro do país sugere a busca de parceiros comerciais e compradores estratégicos para as empresas do portfolio (IPO é um mecanismo raramente utilizado); (v) a regulamentação reconhece o baixo grau de proteção dos investidores e obriga a utilização da arbitragem. Entre as diferenças encontradas, a pouca confiança que os investidores depositam nos gestores tende a se alterar conforme o setor adquire experiência e os gestores adquirem reputação. / The outstanding success attained by Private Equity and Venture Capital (PE/VC) in fostering the U.S. entrepreneurial sector has encouraged several countries to import it. However, PE/VC was tailored to perform in the American institutional environment. As Gompers and Lerner (1999) state, the degree to which the U.S. venture model will - or can - be successfully adapted to other countries is a particularly interesting question. To answer this question we conduct an empirical study with all the 65 PE/VC management firms with offices in Brazil. The survey was conducted at the end of 2004 and attained a response rate of 100%. For this reason the results are fully representative. The analysis aims at the industry's size and structure. Relates them to institutional factors. It reveals a PE/VC industry whose size is heavily limited by the Brazilian institutional idiosyncrasies. At the same time, Brazil's lack of transportation, energy and telecommunications' infrastructure and security provides opportunities for PE/VC type of investments. As a main finding, this work identifies differences and similarities between the American and the Brazilian PE/VC models. The similarities are: (i) PE/VC firms are mainly independent and manage capital from institutional investors; (ii) capital is heavily concentrated regionally as well as in few management firms; (iii) investments are made within a close range from management firms; (iv) software and IT are the preferred sectors; and (v) managers are highly qualified. The main differences suggest that the model has adapted to the new environment: (i) in line with a lack of high-expectation entrepreneurship, there is a tendency to invest in more advanced stages; (ii) since credit is scarce, few LBOs take place; (iii) lack of sector specialization suggests few opportunities within each sector; (iv) management firms concentration in the financial cluster suggest a quest for commercial partners and strategic buyers for portfolio companies (IPO is a quite rare exit mechanism); and (v) Brazilian PE/VC regulation recognizes the inefficiency of the legal system and obliges the use of arbitration. Among the differences, the lack of trust between investors and managers should change as the industry evolves and managers gain reputation.