“…One of the ways to study the quality and efficiency of regulatory practices is Ease of Doing Business, which evaluates the procedures for business initiative, receiving a building permit, gaining an electricity connection, shifting property, receiving access to credit, protecting minority investors, paying taxes, engaging in international trade, imposing contracts and solving bankruptcy (The World Bank Group, 2019). Earlier researches on business regulation focused on its impact on foreign direct investment and economy or assessed it as a tool for investment location decisions (Piwonski, 2010;Siddiqui & Ahmed, 2013;Pinheiro-Alves and Zambujal-Oliveira, 2012;Ani, 2015;Corcoran & Gillanders, 2015). Therefore, prior studies left a scope to study the relationship among the trios: public governance, business regulation, and international trade.…”