Within the last two decades, the international expansion of Latin American companies has undergone remarkable growth. This phenomenon has attracted scholarly attention, however, most of the available research is focused on companies that have already engaged in foreign direct investment (FDI), meanwhile, Latin American firms in pre-FDI stages remain mostly understudied. This article uses an explanatory case study design to analyze the corporate reputation and decision-making process related to international expansion of a set of ten Latin American companies. Both archival and primary data were used in the individual and cross-case analyses stages for 22 months. Our study identifies and establishes analytical generalizations when examining and contrasting the findings with the previously revised theoretical frameworks. More specifically, we identified that these companies exhibit similarities with the behavior of Jaguars, the Latin American wild feline; especially because of (i) their preference to remain in their regional market to exploit current capabilities and advantages, and eventually enter developed markets to upgrade capabilities and surpass strong competitors at home; (ii) their strategies to disguise their country of origin and lack of experience when operating internationally; and (iii) their solitary behavior and reluctance to engage in partnerships and/or strategic alliances unless they have a specific interest in building legitimacy and enhancing reputation.

Some recent researches have shown the important role of hair cortisol as a retrospective biomarker of chronic stress. The aim of this research was to investigate the relationship between hair cortisol levels and sociodemographic and psychological variables, such as perceived stress levels and psychopathological symptoms on a Spanish population. The sample consisted of 347 healthy people, 230 women and 117 men, with an average age of 33.39 years (SD = 12.63). Hair cortisol levels were measured by obtaining a hair sample. In addition, a psychological assessment composed by: Analogic-Visual Stress Scale, Perceived Stress Scale (PSS), Symptom Checklist 90 Revised (SCL–90–R) and the assessment of vital stressful events suffered, was carried out. The mean cortisol level was 108.93 pg/mg (SD = 66.43) in men, and 120.38 pg/mg (SD = 87.26) in women. The linear hierarchical regression showed that Analogic-Visual Stress Scale and perceived stress levels were related with higher hair cortisol levels (R2 = .032; t = 2.21; p = .029). Due to the relationship between daily stress levels, Analogic-Visual Stress Scale, anxiety sub-scale of SCL 90–R and perceived stress levels with hair cortisol levels, we conclude that there is a relation between perceived yourself stressed and the physiological levels.