Pro-internationalisation policies and outward foreign direct investment

This thesis addresses the impacts of public policies on outward foreign direct investment, seeking to contribute to a better understanding of the interplay between pro-internationalisation policies and firm behaviour. Home country measures associated with these policies are explored in terms of use and awareness, as determinants of foreign direct investment, as drivers of policy objectives, in terms of perceived importance and impact in different scenarios of internationalisation. Using a comprehensive database of 441 Portuguese firms, being those that had participated at least in one of the 11 types of public support between 1994 and 2009. The empirical papers presented here reveal a moderating effect of firm capabilities and internationalisation conditions on policy objectives. In fact, firms’ resources and capabilities frame the awareness and use of home country support measures, the existence of public policy determinants of foreign direct investment, the decision to carry out more aggressive modes of entry and the choice of more demanding environments, the impact of policy objectives, and the perceived importance of incentives. In practical terms, the findings of this thesis points that firms’ resources and capabilities are negatively associated with the use of public support, contrasting with awareness, which is found to increase with firms’ resources and capabilities. This insight sheds light on a potential problem of incentives allocation. Our results support the established theorizing about the co-evolution of government and firms' policies, home country measures being found as determinants of foreign direct investment. It is also shown that prointernationalization policies reinforce the firms’ resources and capabilities, which seems to have a positive impact on international growth. An evaluation of public policy, from the foreign direct investor's lens, supports the argument that firms involved in more demanding projects tend to attribute more importance to public supports. Behind the specific and concrete contributions identified in each of the empirical papers, as a whole this thesis makes methodological contributions by introducing the evaluation of impacts of public policies to the field of international business through the firm perspective; these contributions are achieved by taking the pro-internationalisation policies of a small open economy to better understand the impacts of public policies, and by shedding light on co-evolution between resource and institutional-based views.

A internacionalização de PME: o caso da Carvalheira, Bastos Lda.

Atualmente, a internacionalização é uma estratégia adotada por muitas empresas, independentemente da sua dimensão com o intuito de enfrentar o abrandamento económico no seu mercado doméstico e impulsionar o seu crescimento. No caso das PME, as principais razões que as levam a sair do seu mercado doméstico e a arriscar em mercados externos prendem-se com motivações reativas e muitas vezes exógenas, como sejam a saturação do mercado doméstico, as pressões da concorrência e as relações com os clientes. Assim, a crise financeira no país, aliada à crise no setor da construção civil, leva esta PME portuguesa, do ramo da carpintaria de limpo, a procurar novas oportunidades no exterior. No entanto, como tem consciência da falta de experiência e conhecimento nos mercados internacionais, começa por abordar os mercados numa lógica de procura de novas oportunidades, aproveitando as oportunidades que lhe são dirigidas e vendo nestas uma forma de aprofundar relacionamentos e ganhar experiência neste âmbito. Posteriormente, este conhecimento e experiência permitir-lhe-á enveredar por uma estratégia de internacionalização mais ativa, abandonando/diminuindo a lógica de oportunidade e apostando numa lógica mais estruturada e planeada. Este trabalho, ao tirar proveito de um único estudo de caso, pretende analisar a perspetiva evolutiva da empresa, e como uma estratégia empreendedora, a confiança e a incorporação em redes de relacionamentos facilitam o processo de abertura aos mercados externos.

The evolving profile, role and relevance of the medical director in a pharmaceutical company

Over the last years, operations in Pharmaceutical Companies have become more complex, trying to adapt to new demands of the market environment. Overall, the observed change of paradigm requires adapting, mainly by the setting of new priorities, diversification of investments, cost containment strategies, exploring new markets and developping new sets of skills. In this context, new functions have been created, the relevance of some has diminished, and the importance of others has arisen. Amongst these, the medical structure within a Pharmaceutical Company, increased to meet demands, with companies adopting different models to respond to these needs, and becoming a pillar to the business. Assuming the leading role within a medical department, the medical director function often lies in the shadow. It is a key function within Pharma Industry, either on a country or on a Global basis. It has evolved and changed in the past years to meet the constant demands of a changing environment. The Medical Director is a highly skilled and differeniated professional who provides medical and scientific governance within a Pharmaceutical company, since early stages of drug development and up to loss of exclusivity, not only but also by leading a team of other physicians, pharmacists or life scientists whose functions comprise specificities that the medical director needs to understand, provide input to, oversee and lead. As the organization of Pharmaceutical Companies tends to be different, in accordance to values, culture, markets and strategies, the scope of activities of a Medical Director can be broader or may be limited, depending on size of the organization and governance model, but they must fulfil a large set of requirements in order to leverage impact on internal and internal customers. Key technical competencies for medical directors such as an MD degree, a strong clinical foundation, knowledge of drug development, project and team management experience and written and verbal skills are relatively easy to define, but underlying behavioural competencies are more difficult to ascertain, and these are more often the true predictors of success in the role. Beyond seamless proficiency in technical skills, at this level interpersonal skills become far more important, as they are the driver and the distinctive factor between a good and an excelent medical director. And this has impact in the business and in the people doing it.