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On the Influence of Interpersonal Relations on Business Practices in Latin America: A Comparison with the Chinese Guanxi and the Arab Wasta

2015; Wiley; Volume: 57; Issue: 4 Linguagem: Inglês

10.1002/tie.21669

1520-6874

Andrés Vélez‐Calle, Cristina Robledo‐Ardila, Juan David Rodriguez‐Rios,

Islamic Finance and Banking Studies

The connection between interpersonal relationships and business practices is currently an object of study in the field of international business. The authors have identified a significant body of research literature characterizing this phenomenon in China, where it is denominated as guanxi, as well as a recent interest of the academy in studying the Arab wasta (i.e., clout or influence). The authors argue that a similar phenomenon occurs in Latin America and identify patterns similar to those of guanxi and wasta in a cultural artifact called compadrazgo . The article offers insight for managers and individuals interested in doing business in Latin America. © 2015 Wiley Periodicals, Inc .