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The recent growth in diplomatic, civil and military conflicts presents evolving challenges for international business. These risks create new sources of country risk. Country risk, in this sense, is commonly associated with the risk faced by enterprises in developed countries while conducting their business operations in developing or politically volatile countries. Few studies, however, have been carried out on the impact of country risk on enterprises from developing countries operating indoi:10.5539/ijbm.v6n1p274 fatcat:h2hlvnvaxra7tbhh5alu66kfne