“…This is also in line with internalization theory, in the sense of mitigating the effects of transaction costs. Thus, particular emphasis is placed on the idea that institutional aspects are central to the survival of the international subsidiary, whether in the case of IFDI or in the case of OFDI (Arslan et al, 2015;Dikova et al, 2016;He et al, 2016;Hernández et al, 2018;Lu et al, 2015;Luo et al, 2009;Qunyong, 2017;Ray et al, 2018).…”