The purpose of this article is to test a novel, integrative theory of governance mode selection in the context of international franchising from Brazil. Given the Brazilian emerging market context, we added and tested another variable in the model relating to environmental distance between the home (Brazil) and host countries. To test the theory, we employed two logistic regression models and representative data from the Brazilian Franchising Association in addition to the World Bank's Doing Business index, and the CEPII (Centre d'études prospectives et d'informations internationales). Findings show that three factors influence Brazilian franchisors' choices regarding international governance modes: the environmental uncertainty of the host countries, their behavioral uncertainty, and the franchisors' financial capacity. However, the environmental distance does not influence internationalization strategies of Brazilian firms. Emerging markets firms' governance modes of entry can be adequately explained with the existing model despite contextual differences.

本文的目的是测试来自巴西的国际特许经营背景下的新颖，综合的治理模式选择理论。考虑到巴西新兴市场的背景，我们在模型中添加并测试了与本国（巴西）与所在国之间的环境距离有关的另一个变量。为了检验该理论，我们使用了两个逻辑回归模型和巴西特许经营协会的代表性数据，此外还使用了世界银行的《营商环境指数》和CEPII（国际预期信息中心）。调查结果表明，三个因素会影响巴西特许经营者在国际治理模式方面的选择：东道国的环境不确定性，其行为不确定性以及特许经营者的财务能力。但是，环境距离不会影响巴西公司的国际化战略。尽管存在上下文差异，但可以使用现有模型充分解释新兴市场公司的进入治理模式。