Research SummaryWe investigate how the presence of populist rulers affects foreign direct investment in democratic countries. Our analysis sheds light on the mechanisms by which this political force impacts firms' decisions, considering the effect of institutions and internationalization strategies at the firm level in the global arena. We test our theory using instrumental variables with a panel dataset of US multinationals in 37 democratic countries between 1999 and 2020. Our findings suggest that the presence of a populist ruler at the helm of government seems to undermine firms' foreign investment and it is potentially moderated by country‐level institutions and firm‐level internationalization. Collectively, our results offer new insights on how populism affects multinationals' investment decisions, contributing to the literature that examines the relationship between political pressure and investment decisions.Managerial SummaryInvesting in countries with populist rulers poses a challenge for multinationals. Populist leaders constantly threaten to abruptly change the institutions that provide certainty for foreign investments. This study argues that the presence of a populist negatively affects firms' foreign investment, moderated by institutions and internationalization strategies. The adverse impacts of populism on investment are mitigated in countries with robust institutional frameworks. In such cases, the credibility of populists' promises to alter the established “rules of the game” is lower than in countries with weaker institutions. Additionally, by expanding their degree of internationalization, firms are better equipped to navigate the lack of information generated by populist rulers. Our research provides implications for managers in assessing the risks and opportunities associated with investing in such contexts.
El objetivo del presente trabajo es conocer las producciones vocales tempranas anteriores a la primera palabra, así como estudiar la influencia de algunos factores extralingüísticos en ellas (edad, sexo, cuidador principal, orden de nacimiento y nivel educativo materno). Para ello, se ha realizado un estudio descriptivo transversal en el que han participado 39 niños/as de ambos sexos en edades comprendidas entre los 8 y 15 meses de edad. Los niños/as acudían a diferentes centros de Educación Infantil públicos y privados de la provincia de Toledo. Como medida se ha empleado el apartado “Vocalizaciones” de la versión española del Inventario de Desarrollo Comunicativo MacArthur-Bates (López-Ornat, Gallego, Gallo, Karousou, Mariscal y Martínez, 2005). Los resultados reflejan que la actividad vocal en los bebés entre 8 y 15 meses de edad aparece gradualmente de forma muy temprana constatándose la influencia de algunas variables extralingüísticas. Los aspectos prosódicos del lenguaje se relacionan con la variable sexo y el nivel formativo de la madre. La variable orden de nacimiento también muestra una relación con el desarrollo de las vocalizaciones, concretamente en los bebés nacidos en primer lugar. En cuanto a la observación del desempeño comunicativo y lingüístico de los bebés por parte del cuidador principal, se encuentra un sesgo observacional apareciendo una mayor sobreestimación de las vocalizaciones por parte de los cuidadores distintos a la madre.
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