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The purpose of this paper is to examine how headquarters’ managers perceive – cultural, administrative, geographic and economic (CAGE) – distance between countries and its influence on the strategy of international subsidiaries.

This study applies the transaction cost and behavioural theory and presents an exploratory and qualitative methodology approach through six semi-structured in-depth interviews to evaluate managers’ perceptions of distance between countries.

The research findings show that cultural and economic distances indeed have a major influence on subsidiary strategy and a smaller impact of administrative and geographic dimensions, which results into forced changes on the marketing-mix, i.e. product, price, design and brand, as well as on the level of autonomy granted to foreign subsidiaries.

The limitation is related to the home country and the entry mode of foreign direct investment. The findings presented here reflect the nature and behaviour of Portuguese companies with subsidiaries.

The research provides recommendations for managers to be aware of the influence of more than one dimension of distance between countries to improve their decision-making of standardisation-adaptation strategy for foreign subsidiaries. Furthermore, the study stresses that managers’ perceptions may lead to the conclusion that proximity and knowledge of foreign markets does not make international business easier.

This empirical research not only tests the transaction cost theory and behavioural theory on managers’ decisions to invest abroad but also promotes organisational changes to achieve the suitable strategy for international subsidiaries. The study contributes to the area of international business by positing six research propositions concerning distance between countries to be tested in future studies.

We present a critical literature review debating Brazilian research on social and environmental accounting (SEA). The aim of this study is to understand the role of politics in the construction of hegemonies in SEA research in Brazil. In particular, we examine the role of hegemony in relation to the co-option of SEA literature and sustainability in the Brazilian context by the logic of development for economic growth in emerging economies. The methodological approach adopts a post-structural perspective that reflects Laclau and Mouffe’s discourse theory. The study employs a hermeneutical, rhetorical approach to understand and classify 352 Brazilian research articles on SEA. We employ Brown and Fraser’s (2006) categorizations of SEA literature to help in our analysis: the business case, the stakeholder–accountability approach, and the critical case. We argue that the business case is prominent in Brazilian studies. Second-stage analysis suggests that the major themes under discussion include measurement, consulting, and descriptive approach. We argue that these themes illustrate the degree of influence of the hegemonic politics relevant to emerging economics, as these themes predominantly concern economic growth and a capitalist context. This paper discusses trends and practices in the Brazilian literature on SEA and argues that the focus means that SEA avoids critical debates of the role of capitalist logics in an emerging economy concerning sustainability. We urge the Brazilian academy to understand the implications of its reifying agenda and engage, counter-hegemonically, in a social and political agenda beyond the hegemonic support of a particular set of capitalist interests.