a global survey of international business education in the 1990s this article presents the major findings of the fifth global curriculum survey of the academy of international business aib an examination of the status and trends in international business education around the world as of the early 1990s the survey s findings based on responses from more than 500 business schools encompass different goals and methods of internationalization international linkages and experiential activities organizational issues amounts of internationalization progress achieved and degrees of administrative satisfaction with progress achieved the overall conclusion is that considerable progress has been made but much more remains to be accomplished

handling financial resource mobilisation in technological innovation systems the case of chinese wind power to mitigate climate change a rapid and large scale expansion of sustainable innovations such as renewable energy technologies is crucial china s track record of wind power development shows both speed and scale that can provide valuable knowledge of how to stimulate and maintain transformation of energy systems the growth was made possible partly by ample access to financial capital however the rapid growth also led to growing pains and made the industry face increasing financial constraints while these constraints partly relate to structures and trends that are external to the wind power innovation system they were also a consequence of the particular path taken in chinese wind power development the case demonstrates that if a full fledged industry is to be developed and sustained a balanced growth is required and all innovation system functions need due attention sooner or later conceptually the article contributes by further exploring how mobilisation of financial resources affect and is affected by overall system dynamics

a coevolutionary framework for analysing a transition to a sustainable low carbon economy this paper proposes a coevolutionary framework for analysing a transition to a sustainable low carbon economy based on the coevolution of ecosystems technologies institutions business strategies and user practices within a multi level micro meso macro perspective this builds on and develops previous coevolutionary analyses of long term technological and industrial change and recent renewed interest within ecological economics on coevolutionary approaches previous work has analysed how the coevolution of technologies and institutions has led to the lock in of current high carbon energy systems and how the coevolution of physical and social technologies and business strategies has brought significant material and welfare benefits to the minority of the world s population living in industrialised countries the coevolutionary framework proposed here may be used to undertake 1 detailed empirical analyses at a micro meso level of the challenges relating to the innovation and adoption of particularly low carbon technologies 2 as a framework for analysing the multi level interaction of social and technological elements within potential transition pathways to a low carbon energy system 3 to assess the implications for economic growth and prosperity of a transition to a low carbon economy and 4 to assist in the development of more formal multi level evolutionary economic models

fracking and environmental in justice in a texas city abstract shale gas development sgd via horizontal drilling and fracking is touted for economic benefits and spurned for health and environmental impacts despite sgd s socioecological salience few peer reviewed empirical studies document the distribution of positive and negative effects the city of denton texas has 280 active gas wells and over a decade of sgd here we use an environmental justice framework to analyze the distribution of sgd s costs and benefits within denton using data on mineral property values from 2002 to 2013 and gas well locations we ask who owns denton s mineral rights i e the greatest financial beneficiaries and how does this ownership pattern relate to who lives near gas wells i e those who shoulder the nuisances and health impacts our results show that denton s mineral wealth is widely distributed around the u s residents own 1 of the total value extracted and the city government is a large financial beneficiary in addition to distributional inequities our analysis demonstrates that split estate doctrine legal deference to mineral owners and sgd s uniqueness in urban centers create disparities in municipal sgd decision making processes the environmental justice issues associated with fracking in denton also provide one possible explanation for residents november 2014 vote to ban hydraulic fracturing

do deployment policies pick technologies by not picking applications a simulation of investment decisions in technologies with multiple applications abstract the role of deployment policies that aim to foster technological change has grown considerably especially in the fields of energy and climate however recent research has shown that the adoption of deployment policies carries the potential of locking in the technology that is most cost effective at the point of policy introduction but may be inefficient in the long term the present paper contributes to the emerging literature on the role of deployment policies in creating path dependency and eventually technology lock in while previous studies focused on the relationship between lock in and the technology specificity of deployment policies this paper introduces a new factor the existence of multiple applications for a technology we argue that this factor is highly relevant for technological lock in and should be considered by policy makers to support our argument we simulate the competition among four stationary battery technologies across energy system applications in an investment simulation model this simulation shows that the degree of competition among technologies differs strongly across applications which corresponds with a highly varying lock in probability hence selecting applications in deployment policies very likely corresponds to selecting technologies we discuss the implications of these results for both policy makers and for the academic debate on deployment policies and technological lock in as well as on technology assessment and governance more generally based on the notion that policies can have different technology specificity levels we develop the idea of the application specificity of policies and provide examples of currently enacted deployment policies that vary in terms of their technology and application specificity

the governance of sustainable socio technical transitions a quasi evolutionary model of socio technical transitions is described in which regimes face selection pressures continuously differentiated transition contexts determine the form and direction of regime change in response to these pressures the articulation of pressures and the degree to which responses are coordinated and based on resources available within the regime define the transition context four alternative contexts are described endogenous renewal re orientation of trajectories emergent transformation and purposive transitions agency and power in the governance of regime transformation are analysed power to affect change depends on regime membership the distribution of resources for change and expectations

the importance of international business to the strategic agenda of u s ceos the growth of international business ib and concerns about the relevance of ib research indicate the need for managerial input on the topic a survey of 108 u s ceos reveals that ib issues are an important part of their strategic agenda four types of ib issues are identified which reveal that american ceos appear to be taking a proactive stance regarding the international arena the ceos were also found to hold diverse perceptions of ib issues the implications of these findings are discussed

understanding carbon lock in abstract this paper narrative argues that industrial economies have been locked into fossil fuel based energy systems through a process of technological and institutional co evolution driven by path dependent increasing returns to scale it is asserted that this condition termed carbon lock in creates persistent market and policy failures that can inhibit the diffusion of carbon saving technologies despite their apparent environmental and economic advantages the notion of a techno institutional complex is introduced to capture the idea that lock in occurs through combined interactions among technological systems and governing institutions while carbon lock in provides a conceptual basis for understanding macro level barriers to the diffusion of carbon saving technologies it also generates questions for standard economic modeling approaches that abstract away technological and institutional evolution in their elaboration the question of escaping carbon lock in is left for a future paper

public financing of innovation new questions economic theory justifies policy when there are concrete market failures the article shows how in the case of innovation successful policies that have led to radical innovations have been more about market shaping and creating through direct and pervasive public financing rather than market fixing the paper reviews and discusses evidence for this in three key areas i the presence of finance from public sources across the entire innovation chain ii the concept of mission oriented policies that have created new technological and industrial landscapes and iii the entrepreneurial and lead investor role of public actors willing and able to take on extreme risks independent of the business cycle we further illustrate these three characteristics for the case of clean technology and discuss how a market creating and shaping perspective may be useful for understanding the financing of transformative innovation needed for confronting contemporary societal challenges

environmental justice in the oil refinery industry a panel analysis across united states counties abstract environmental injustice due to economic inequality and its correlates and consequences has been a focus for researchers and policy makers alike over many years with much of that research focusing on race as the major determinant of inequality in this paper we extend this literature by focussing on emissions from the oil refinery industry at the community level in particular based on the use of panel data we analyse econometrically how the environmental performance of individual petroleum refineries emissions of benzene and toluene to the atmosphere associates with determinants of economic inequality at the micro level in terms of average per capita income at the level of united states counties as well as average county level unemployment rates the paper finds evidence of environmental injustice as a result of unemployment levels in areas around refineries and to a slightly lesser extent as a result of income inequality it discusses these results in a wider context referring amongst other things to the role of county level community characteristics and the potential for private firms to substitute for the intervention of public institutions if these are lacking

international trade and business in the late 1980s an integrated u s perspective much of the current research and teaching in international business and trade is not part of a concerted effort in a given direction this is the result of a lack of adequate information about what the major issues will be and a lack of adequate communication between the academic business and policymaking communities this article presents the findings of a delphi study conducted with academicians business executives and policymakers involved in international trade the most crucial issue identified by that research is the current challenge to the multilateral trade framework this challenge emanates from such new factors as trade in services subsidization high technology transfer countertrade and orderly marketing agreements after discussing these and other newly emerging issues in international business and trade recommendations are made to encourage a better focus for future research and teaching in the international business and trade arena

trends in international business research twenty five years later international business ib research has made enormous strides in the quarter century since jibs was inaugurated this article reflects upon the development of ib research during that period it first reviews the findings and recommendations of a comprehensive survey of the embryonic field of ib research conducted twenty five years ago several early trends identified then are discussed the astonishing acceleration in the pace of ib research the broadening of research activity across a greater range of functional areas and an expanding geographic base of research outside of north america especially in europe we then discuss the evolution of ib research since that formative period growing breadth and diversity greater methodological sophistication a move toward research transcending traditional functional boundaries development of new research areas such as management information systems and international coalitions and alliances research on the phenomenon of transnational firms as complete systems and the continued broadening of the geographic base of research emerging research areas such as international entrepreneurship and small business and the greening of business are identified the article concludes with calls for more research collaboration across national boundaries and for greater synthesis of research into broader more integrative frameworks

the economic impact of shale gas extraction a review of existing studies abstract recent advances in drilling technology have allowed for the profitable extraction of natural gas from deep underground shale rock formations several reports sponsored by the gas industry have estimated the economic effects of the shale gas extraction on incomes employment and tax revenues none of these reports has been published in an economics journal and therefore have not been subjected to the peer review process yet these reports may be influential to the formation of public policy this commentary provides written reviews of several studies purporting to estimate the economic impact of gas extraction from shale beds due to questionable assumptions the economic impacts estimated in these reports are very likely overstated

emergent patterns and processes in urban hydrocarbon governance abstract beginning in the 2000s the dallas fort worth metropolitan region became home to the world s largest and longest experiment in urban shale gas production with 25 182 drilling permits issued from 2000 to 2016 in the barnett shale urban hydrocarbon governance centered on establishing statutory setback distances between drilling sites and nearest houses or other protected uses here we analyze qualitative interview data obtained with a rigorous sampling frame to examine processes and outcomes of municipal level hydrocarbon governance we find that early municipal responses 2001 2002 revealed lack of technical expertise to respond to unconventional drilling and production controversial wells which residents considered too close to houses focused governance debates in several municipalities municipal policymakers reported that protecting public health and safety were top priorities in determining setbacks after 2003 policymakers copied ordinance language from neighboring municipalities and established task forces and working groups to reduce political tensions the role of the hydrocarbon industry included frequent claims seeking to exploit the longstanding separation of mineral and property estates which encouraged municipalities to reduce setbacks and lower potential exposure to regulatory takings lawsuits over time municipal regulatory power in hydrocarbon governance decreased while industry power increased offering several implications for corporate responsibility and social license debates

relevance in international business research a need for more linkages the bi annual presentation by the outgoing aib president has become traditional it is not only an honor but also an unusual opportunity to address an audience composed of international experts in all areas relating to international business it is also a perplexing challenge to choose a topic that should be of general interest without departing too much from one s own field of specialized interest fortunately the aib officers agreed on a theme for this year s meeting relevance in international business research which presented me a topic to discuss

integrating finance into the multi level perspective technology niche finance regime interactions and financial policy interventions abstract any major socio technical transition requires a fundamental re direction of financial capital from incumbent to new technologies and practices while the transitions literature conceptually covers financial markets the role of finance is marginalized and has scarcely been analysed empirically to address this gap here we build on the multi level perspective mlp which considers financial markets as part of the existing regime we argue that the role of finance is highly relevant for the niche regime interaction redirecting finance towards new niche technologies requires that either the niche is fit for and conforms to the financial regime s expectations or the financial regime is stretched and transformed in order to accept and finance niche technologies based on 56 interviews we identify factors that determine interactions between the financial regime and technology niches these include acceptable risk and transaction size an abundance of knowledge and heuristics in both the regime and niche and an extensive existing industry network we further analyse how state investment bank sib interventions in germany the uk and australia aimed to mobilise private finance into low carbon project development affect the interaction between the technology niche and financial regime i e whether they resulted in fitting and conforming the technological niche for the financial regime or stretching and transforming the financial regime our results point to several important effects of sib interventions with most effects fitting the niche to the regime however we also detect effects that stretch and transform the financial regime through evolutionary processes importantly some effects occur as a consequence of the primary effects based on our findings we discuss policy implications on how to accelerate transitions through policies aiming at finance as well as theoretical insights gained through our analysis

which renewable energy policy is a venture capitalist s best friend empirical evidence from a survey of international cleantech investors governments around the world have adopted ambitious targets to increase the share of renewable energy and reduce greenhouse gas emissions they pursue a variety of policy approaches to achieve these targets it has been a popular theme for contributions in energy policy to investigate the effectiveness of such policies this article adds a new perspective to the debate namely looking at the policy preferences of private investors in innovative clean energy technology firms we surveyed 60 investment professionals from european and north american venture capital and private equity funds and asked them to assess the effectiveness of various policies in terms of stimulating their interest to invest in innovative clean energy technologies in addition to quantitative rankings we use qualitative interview data to capture additional information on why investors prefer some policies over others the combined analysis compensates for the inherent limitations of a quantitative ranking using generic policy types the results of this exploratory analysis demonstrate that all other things being equal investors in our sample perceived feed in tariffs to be the most effective renewable energy policy the overall preference for feed in tariffs is even more pronounced among investors based in europe and with higher exposure to clean energy

finance innovation and industrial change abstract this paper investigates the impact financial structures upon industrial dynamics whenever the system is permanently characterized by unexploited opportunities for innovation highly bounded rationality and trial and error search processes in these circumstances it is argued specific financial set ups such as market based vs credit based mechanisms of allocation control and ownership transfer are likely to exert different influences on the rates and modes of industrial innovation relatedly one suggests some hypotheses on the links between financial systems and features of industrial evolution and some tentative taxonomies

the effects of a natural gas boom on employment and income in colorado texas and wyoming improvements in technology have made it profitable to tap unconventional gas reservoirs in relatively impermeable shale and sandstone deposits which are spread throughout the u s mostly in rural areas proponents of gas drilling point to the activity s local economic benefits yet no empirical studies have systematically documented the magnitude or distribution of economic gains i estimate these gains for counties in colorado texas and wyoming three states where natural gas production expanded substantially since the late 1990s i find that a large increase in the value of gas production caused modest increases in employment wage and salary income and median household income the results suggest that each million dollars in gas production created 2 35 jobs in the county of production which led to an annualized increase in employment that was 1 5 of the pre boom level for the average gas boom county comparisons show that ex ante estimates of the number of jobs created by developing the fayetteville and marcellus shale gas formations may have been too large

technological revolutions and techno economic paradigms this paper locates the notion of technological revolutions in the neo schumpeterian effort to understand innovation and to identify the regularities continuities and discontinuities in the process of innovation it looks at the micro and meso foundations of the patterns observed in the evolution of technical change and at the interrelations with the context that shape the rhythm and direction of innovation on this basis it defines technological revolutions examines their structure and the role that they play in rejuvenating the whole economy through the application of the accompanying techno economic paradigm this over arching meta paradigm or shared best practice common sense is in turn defined and analysed in its components and its impact including its influence on institutional and social change

the role of the state in financial markets this paper reexamines the role of the state in financial markets and identifies seven major market failures that provide a potential rationale for government intervention in practice government interventions in capital markets even in industrial countries have been pervasive the paper provides a taxonomy of those interventions with respect to both the objectives they serve and the instruments they employ there is a role for the government in financial markets but the success of government interventions has been mixed it is important that interventions be well designed the paper sets out principles for government regulatory interventions and applies them to prudential regulation it then examines three other areas of intervention directed credit finanical repression and competition policy and identifies circumstances in which some amount of financial repression may actually be beneficial

the views of american multinational ceos on internationalized business education for prospective employees for some time a number of industry leaders have been exhorting american business schools to train their students in the aspects of international business as late as 1987 a group of prominent leaders from business labor academia and government issued a report that stated that business schools must internationalize the entire course of study and should include comparative business practices foreign languages and analyses of other countries and cultures

natural resource ownership financial gains and governance the case of unconventional gas development in the uk and the us abstract who owns an area s natural resources affects the local financial gains from extraction and participation in resource governance we develop a typology of ownership regimes using two dimensions of ownership private versus public and local versus absentee and apply it to unconventional natural gas development in the united kingdom uk and the state of pennsylvania in the united states we find that local residents in pennsylvania own 53 of the acreage leased for development and capture an estimated 8 5 of the value of production of the typical well more than double what is expected from a well in the uk s public absentee regime despite revenue sharing policies the dollar amount of local payments is also larger in pennsylvania with the difference reflecting policies and institutions not differences in the value of production the pennsylvania case provides a benchmark for public absentee owners considering policies to direct payments to communities hosting extraction it gives the local payments corresponding to the case where subsurface owners voluntarily negotiate lease terms with energy firms and roughly half of ownership revenues accrue locally

fostering a renewable energy technology industry an international comparison of wind industry policy support mechanisms this article examines the importance of national and sub national policies in supporting the development of successful global wind turbine manufacturing companies we explore the motivations behind establishing a local wind power industry and the paths that different countries have taken to develop indigenous large wind turbine manufacturing industries within their borders this is done through a cross country comparison of the policy support mechanisms that have been employed to directly and indirectly promote wind technology manufacturing in 12 countries we find that in many instances there is a clear relationship between a manufacturer s success in its home country market and its eventual success in the global wind power market whether new wind turbine manufacturing entrants are able to succeed will likely depend in part on the utilization of their turbines in their own domestic market which in turn will be influenced by the annual size and stability of that market consequently policies that support a sizable stable market for wind power in conjunction with policies that specifically provide incentives for wind power technology to be manufactured locally are most likely to result in the establishment of an internationally competitive wind industry

who benefits from local oil and gas employment labor market composition in the oil and gas industry in texas and the rest of the united states abstract this paper examines local labor market outcomes from an oil and gas boom we examine two main outcomes the probability of employment and the log wages of workers employed outside the oil and gas industry for texas and the rest of the united states across gender race and ethnicity we find that men and women gain employment in the oil and gas industry during booms but such gains are much larger for men and are largest for black and hispanic men we also find positive income spillovers for workers in other industries that are similar in magnitude across demographic groups

an analysis of twenty five years of research in the journal of international business studies the article analyzes the twenty five years of research published in the journal of international business studies jibs since its inception in 1970 the article reviews the authors their institutional affiliations and the discipline content of the published articles

international business education a corporate view as a preliminary step in the internationalization of business school curricula 122 major canadian corporations were surveyed for their views on the importance of various management skills and international courses as well as their opinion on the mechanisms institutions and academics for delivering them this article reports on the responses obtained and suggests methods for improving the overall effectiveness of international business education

international business and trade in the next decade report from a delphi study the globalization of business causes major changes in the business environment and in business practices forecasting such changes is crucial for the preparation of responses to them this article reports on a delphi study conducted with a global set of experts drawn from the policy business and academic communities over three rounds of mailings these experts analyzed and debated the likelihood of changes in the international business environment over the next decade and the impact of these changes on corporate practices the findings identify key geographic areas of business growth major sectoral transformations shifts in the trade framework and its institution and strategies for corporate adjustment