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Most multinational companies have discovered the importance of understanding differences in markets, and as a result, they invest heavily in understanding the cultural values underlying those markets.
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For some time, we have pointed to differences in market conditions in different parts of the UK.
Moreover, potential regional differences in marketing of the different ESAs by pharmaceutical companies, as well as clinicians' skepticism about the actual comparability of the benefit risk profiles of the biologic reference products and corresponding biosimilars, may have partly contributed to the heterogeneity of ESA use in Italy.
The division reflects the differences in marketing strategy that will be used to target each different market.
American firms that survive double their employment over the first two years, on average; employment gains among new firms in Europe are only 10-20% (see bottom chart).How might this reflect differences in market regulation?
However, all other things are seldom equal: differences in market size, labour costs, the quality of infrastructure and political stability, among other things, are also important for attracting investment.
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This makes us conclude that findings in previous comparative international value relevance studies are partly driven by differences in market characteristics across countries.
Instead, they are driven purely by differences in market size that induce skilled emigrants to design better products or production processes abroad than at home.
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