bluuebunny/crossref_metadata_2025 huggingface dataset:
Performance Evaluation Criteria for International Joint Venture
Authors: Jain Kirti , Jain Sudhir
Published: January 2021

Joint ventures are different from traditional organizations in terms of their life cycle and therefore their performance measures tend to be somewhat different. The traditional approaches to performance evaluation for an organization offer a diverse set of measures in financial management. However, they omit an aspect in case of IJVs – IJVs are a new form of entity with at least two partners with varied interests - which, both IJV managers and business theoreticians are now paying increasing attention to. Apart from traditional financial performance criteria, non-financial performance criteria show strong promise for measuring IJV performance. This research paper presents various IJV performance criteria and assesses them as perceived by the Indian automotive IJVs. It attempts to look for a holistic measure that can be used to quantify the performance of an IJV.
The Stochastic Character of Japanese Exchange Rates
Authors: Laopodis Nikiforos
Published: January 2021

The paper explores the stochastic character of six yen exchange rates with respect to the Canadian dollar, French franc, Italian lira, German mark, British pound and the US dollar for the 1973-2002 periods. The methodological design is the multivariate Exponential GARCH model, which is capable of capturing asymmetries in the exchange rate volatility transmission mechanism. The results point to significant reciprocal and positive volatility spillovers after the Plaza Accord of 1985. Furthermore, the finding of absence of asymmetry in the same period implies that bad and/or good news in a particular market positively and equally affects volatility in the next market.
An Exploratory Examination of Casual Models for Telecommunication Technologies, Organizational Structural Attributes and Organizational Performance in the U.S. Manufacturing Sector
Authors: Lee Choong
Published: January 2021

In the past decade there have been significant improvements in Telecommunications Technologies (TT). These have had a profound effect on contemporary organizational structures. In attempting to understand this, a few theoretical works have offered a contingent explanation. To extend these research efforts with empirical evidence, our study tested two alternative models to explain the relationship between TT, organization structure, and the organization’s financial performance. Two models tested different scenarios based upon whether structural change leads to more TT use (the organizational imperative view) or vice versa (the technological imperative view. TT penetration, organizational structure (centralization, formalization, complexity, and integration) and organizational performance were examined using a survey of manufacturing organizations. The results of causal modeling show that the relationship between TT and organizational structure is better explained by the technology imperative, which TT leads to change in organizational structure: the more decentralized, more complex and more integrated organizational structures are the consequence of the higher penetration of TT. None of the models supports the notion that improved financial performance is a direct consequence of the link between TT and alternative organization structures. Although recent literature suggest that TT flattens corporate hierarchy, simplifies business structure and processes, and minimizes the use of conventional integrated mechanism, this study found that greater penetration of TT creates a need for more coordination and allows more complex and larger organization structures to evolve.
U.S. Business and Global Treaties: Lobbying as It Effects Multilateral Agreement
Authors: Cavanagh Gerald
Published: January 2021

We examine negotiations for six international treaties and agreements to determine the influence that business had on the U.S. government’s position. The treaties: The Kyoto Treaty on Global Warming, North American Free Trade Agreement, OECD Anti-Bribery Agreement, Air Crash Liability Treaty, Law of the Sea Treaty and the Infant Formula Agreement. Business lobbying for these treaties had a strong influence on the U.S. position under all administrations, and that impact has been greater with Republican presidents.
CEO Competitiveness: CEO Type vs. Economic Development of Nations
Authors: Suh Irene Il-Yun , Cho Dong-Sung , Yi Kwang-Soo
Published: January 2021

This study reconsiders CEO (Chief Executive Officer) types by country in terms of competitiveness and also inquires CEO types and levels on each country group under categories regarding economic development stages, namely, Subject Dependent (SD), Environment Dependent (ED), Resource Dependent (RD), Mechanism Dependent (MD) and Creative Destruction (CD). To form variables for CEO types, s, e, r, M factors were utilized for competitive factors in the ?숹ine-factor??model, and the variables needed for the development stages in CEO types were formulated with these s, e, r, and M factors. Most of previous studies regarding the categorization of CEO types used qualitative methods, with their types being categorized under subjective standards. By contrast, this study is unique in the sense that it covers the overall CEO competitiveness of each country which inquires the demanded issues for CEOs reflected in each development stage, and thus, enlightens us on the efforts needed for the future.
Determinants of Foreign Direct Investment in Less Developed Countries: A Factor Analysis Approach
Authors: Rutihinda Cranmer
Published: January 2021

Using factor analysis this study explores factors influencing the choice of foreign direct investment in less developed countries. Results show significant relationships between foreign direct investment and institutional quality, infrastructure development, market size, availability of natural resources, and quality of human capital. However, the study found no significant relationship between foreign direct investment inflows and economic stability.
Determinants of Corporate Restructuring in Korea after the 1997 Economic Crisis: An Empirical Investigation
Authors: Pattnaik Chinmay
Published: January 2021

This study examines the impact of corporate governance and firm characteristics on corporate restructuring in Korea after the economic crisis. We specifically analyze factors that had a bearing on corporate restructuring following the sudden economic downturn. In particular, we examine the impact of firm characteristics such as leverage levels and prior performance, together with ownership structure like insider block-holding ownership, foreign investor ownership, and institutional investor ownership on the extent of asset sales. The empirical results show that firm characteristics such as high prior performance have a negative impact on asset sales while high leverage has a positive impact. In the ownership structure, insider block holding and foreign investor ownership have negative impacts on asset sales.
Evaluating a Joint Venture: NUMMI at Age 20
Authors: Duerr Edwin , Duerr Mitsuko , Ungson Gerardo , Wong Yim-Yu
Published: January 2021

In 2004, General Motors and Toyota celebrated the 20th anniversary of the formation of their 50-50 joint venture, New United Motor Manufacturing, Inc.(NUMMI). The success of this joint venture is set in sharp contrast to the pattern of failures of strategic alliances documented in empirical research. To explain this, we recast NUMMI in terms of an alliance learning model, and organize in three sections. First, we discuss the case of NUMMI derived from published sources and our own interviews with Toyota at different stages of the joint venture; second, we develop a conceptual model depicting learning dynamics and possible extensions of extant theories; and third, as a prelude to future endeavors by both firms, this paper explores the evidence regarding what was learned, the differences in benefits derived, and the probable causes of these differences based on field interviews.
FDI, Globalisation and Development: Some Implications for Korean Firms and Korean Policy Makers
Authors: Dunning John
Published: January 2021

The paper first summarises some of the economic and social characteristics of the evolving world scenario, and their relevance for globalization, economic development and foreign direct investment. It then goes on to identify and discuss the main components of the competitive strengths and weaknesses of the Korean economy and of Korean firms; and finally examines the implications of these findings for outward and inward foreign direct investment policy.
The Impact of Business-Government Relationship on Location Choice by Korean Firms in China: A Comparative Case Study
Authors: Wang Sung Yue , Suh Chung-Sok
Published: January 2021

Since China embarked on market-oriented reform in 1979, various kinds of economic zones have been set up to attract foreign direct investment (FDI). These economic zones often compete against each other for investment, offering better policies and creating more incentives. In most local economic zones, red tape is significantly reduced because of the establishment of local zone authorities with consolidated power to oversee FDI-related matters. Foreign invested enterprises (FIEs) need to deal with much less number of government agencies in these zones than outside these zones. But on the other hand, relationship with these zone authorities becomes crucial for FIEs targeting or operating in these zones. Prior research shows FIEs in China often make their location choices based on the preferential policies offered by different regions. But a neglected factor is that how the business-government relationship might affect foreign firms??location choice between these zones within the same locality. This paper studies the impact of the bilateral FIE-zone authority relationship on FIEs??location decisions. Drawing upon location literature and using data from case studies, the paper provides evidence on the impact of business-government relationship on two levels of location choice by Korean firms in China and advances propositions for future research.
A Study of Resource Competitiveness in High Technology Firms
Authors: Yan Yanni , Ding Daniel , Tseng Choo Shin
Published: January 2021

The link between resource competitiveness and performance in hi-tech firms is examined from the perspective of resource-based theory and strategic management. Departing from previous research, it is argued that the linkage between firm-specific advantages and performance varies according to the underlying control variables of corporate culture, organizational formalization and business targeting. Data obtained from 339 hi-tech firms in China indicate that achieving resource competitiveness requires rapidly adopting technology changes and speedy marketing adaptation. A firm’s performance can to a significant extent be attributed to its configuration of technology and market-based resources and capabilities.
An Empirical Assessment of CAPM, Market Model and APT: Evidence from the Greek Stock Market
Authors: Messis Petros , Emmanuel Iatridis George , Blanas George
Published: January 2021

This paper uses three models to estimate the financial performance of 33 securities traded on the Athens Stock Exchange (ASE). To estimate the expected returns, this study uses the Capital Asset Pricing Model (CAPM), the Market Model, and the Arbitrage Pricing Theory (APT). There is significant evidence that the APT performs better than the CAPM and the Market Model, while the differences between the CAPM and the Market Model appear not to be significant. The three models are tested for a five-year period from 2000 to 2005. Total risk is significantly negatively related to returns during down markets, while this relationship is positive but not significant in up markets. There is evidence that, apart from the market risk, other risk factors that influence the stock returns are the inflation rate and the exchange rate.
Growing and Developing Old Economy Firms
Authors: Smith Anne , Temple Bryan
Published: January 2021

This paper paints a textual picture of two old economy firms in Scotland over a five-year period. It offers a longitudinal qualitative analysis into the processes and functions of the firms. The study draws on business development and knowledge transfer literature to provide research frameworks and underpin the analysis. The fundamental aim of the study was to understand how these businesses operate. The results give a narrow but essentially deep insight into important current issues affecting the development of such firms. Small and medium-sized, “old economy” firms, mainly family-owned, represent the vast majority of business organizations in the UK and are particularly vulnerable to economic events, political decisions, policy change and natural disasters. Their ability to adapt and transform will hold the key to economic growth and competitiveness. This paper shows clearly the challenges facing the small or medium-sized “old economy” firms, which are restructuring for growth and development in the 21st Century.
Corporate Social Responsibility and Shareholder Effects: The Greek Paradigm
Authors: Syriopoulos Theodore
Published: January 2021

The study investigates the risk and return profile of a stock portfolio constructed of companies that consistently promote corporate social responsibility (CSR). The stock market behavior of these companies is analyzed and attention is paid on modeling dynamic volatility and assessing implications for shareholder value. It would be anticipated that corporate social responsible companies may exhibit a stable stock market behavior. However, the volatility model employed provides a statistical explanation of CSR stock risk and return. The impact of volatility is shown to be persistent though varying across the CSR sample. Shareholder value may fluctuate considerably and CSR stocks may not necessarily constitute a defensive asset class.
Economic Spread and Market Value: The Case of Listed Companies in Greece
Authors: Artikis Panayiotis
Published: January 2021

The present article aims to evaluate the relationship between economic spread and market value for all firms, except financials, listed in the Athens Stock Exchange over the period 2000~2004. Specifically, this relationship was examined both on a whole market and on an industry basis. The sample firms were classified into six industries, namely consumer cyclical, basic materials, consumer non-cyclical, industrial, technology, and communications. In doing so a regression analysis was performed having economic spread as the independent variable and the ratio of market value over the invested capital as the dependent variable. Economic spread is defined as the difference between the return on invested capital and the weighted average cost of capital and indicates the net return a firm achieves for the capital it uses in its operations. Market value of a firm is defined as the sum of the market value of equity plus the market value of debt. The results for the whole market showed that there is a statistically significant positive relationship between economic spread and market value in 66.67% of the cases. On the industry basis the results showed a positive relationship between the two variables in all sectors except the technology one.
Real Option Methodology for the Evaluation of IT Projects
Authors: Papadopoulos Efthymios , Dounias Georgios
Published: January 2021

Current project valuation framework under the Net Present Value (NPV) method has been proved to be incomplete, as it fails to accurately account for uncertainty. Traditional financial tools fail because they neglect to account for the value of flexibility. The standard NPV approach assumes that project risks remain constant over the life of the strategy. It, also, fails to factor in the full range of opportunities that a new and innovative strategy may create for a firm in the future. We show how one can use Real Option methodology in order to determine optimal financial path to fund new technology deployment within a risky environment. Moreover, in this paper we demonstrate, with the use of a simple numerical example, how the Real Options methodology can be implemented within an IT project deployment.
Determinants of the Growth Slowdown in Greece during the Previous Growth Cycle
Authors: Sfakianakis George
Published: January 2021

The Greek economy was growing at high rates during the post-war period and up until the middle of the 1970s, while afterwards real GDP growth rates fell significantly and remained on average very low during the 1980s. Using a generalised production function approach, this paper aims at assessing the importance of various factors in explaining this slowdown, in an attempt to isolate factors that could still be at play during the current cycle. More specifically, emphasis is placed on the share of the public sector, capital accumulation, education, the impact of international developments in productivity growth, and the ability of the Greek economy to exploit technology transfer. Main findings include the negative relationship between the size of the public sector and growth and the fact that during that period Greece seemed unable to take advantage of accumulated knowledge and R&D capital in other parts of the world. Causality tests are performed in order to verify the robustness of these findings. Also, a potentially appropriate economic policy mix is evaluated accordingly.
Budget Deficits, Oil Prices and Interest Rates
Authors: Paul Sanjay , Varamini Hossein
Published: January 2021

The study investigates the effect of budget deficits, economic growth, money supply and the price of oil on interest rates. We develop a theoretical framework to show how interest rates are determined. We test our model using quarterly data in the United States, Canada and Germany, seeking to explain both short-term and long-term interest rates. The results show that, generally, interest rates are not affected by changes in budget deficits, lending (qualified) empirical support to the Ricardian equivalence proposition. We also determine the effects of GDP growth, money supply and the price of oil on short-term and long-term interest rates in the three countries.
Co-Movements of Pacific-Basin Stock Markets: Portfolio Diversification Implications
Authors: Meric Ilhan , Kim Joe , Coopersmith Lewis , Meric Gulser
Published: January 2021

This paper studies the co-movements of and the linkages between twelve Pacific-Basin stock markets during the June 1995-May 2005 period. We use the principal components analysis (PCA) technique to group the stock markets into statistically significant principal components in terms of the similarities of their index return movements. The rolling correlation analysis results show that correlation between the Pacific-Basin stock markets has considerable time-varying volatility. The Granger causality test results indicate that the weekly index returns of most Pacific-Basin stock markets are weak-form efficient and that most Pacific-Basin stock markets have significant lead/lag linkages. The study investigates the portfolio diversification implications of the linkages between the Pacific-Basin stock markets.
On the Internet, Nobody Knows You're a Girl: The Female Performance Advantage in Anonymous Virtual Teams
Authors: de Pillis Emmeline , Furumo Kimberly
Published: January 2021

As work is increasingly done across borders, the quality of this work depends upon electronically connected virtual teams. We examine the performance of women and men in face-to-face versus anonymous virtual teams. In anonymous virtual teams, women significantly outperformed men. The performance of face-to-face teams was better overalperformance was equivalent to that of men in face to face teams. While virtual teams experience lower performance and satisfaction than face to face teams overall, this difference appears to be due to lowered performance in men.
Domestic Industrial Environmental Cost and Strategic Choice in Developing Countries
Authors: Huang Dechun , Liu Zhibiao , Thompson Andrew , Chen Jie
Published: January 2021

This paper examines competitive issues related to environmental policies like the European Union directives on Waste Electrical and Electronic Equipment and Restriction on Hazardous Substances implemented in 2006. In order to examine strategic environmental choice implications related to these directives, a vertical market model developed by Stephen F. Hamilton in analyzing competitive choice amongst domestic and foreign, downstream and upstream companies in the presence of environmental constraints was adopted. The main conclusion is that industrial and environmental policies in developing countries should be refocused so as to realize the integration of the environmental cost by internalizing the externalities.
Corporate Governance Change and Management Performance: An Exploratory Study of A Korean Company - Mando Corporation
Authors: Min Bryan , Kim Dong-Jae
Published: January 2021

Triggered by the Asian financial crisis in 1997, corporate governance has become an important topic for many Korean companies. Particularly, Korea‟s large family-owned conglomerates, chaebols, went through significant changes in terms of corporate governance. There has been a widely held belief that the lack of proper corporate governance in Korean companies, notably chaebols, forces them to suffer from low performance. Changes in corporate governance, therefore, is expected to enhance company performance. This paper is an exploratory study to address this issue. Specifically, it has an indepth look at the case of Mando Corporation to show how corporate governance improved management performance in terms of increasing shareholder value. The roles of the board of directors, large shareholders, and professional managers are explained and contrasted in the context of rapidly evolving dynamics of changes in the corporate governance of the company.
Human Resources Management in a Belgian Public Company
Authors: Belghit Anne Goujon
Published: January 2021

Within the next few years, human resource management practiced in public companies will undergo some major changes. In this context we will address the following question: What are the human resource management practices in the bureaucratic-type public company in the years 2000 on the verge of opening national market to competition? The results, obtained thanks to the Alceste software, through semi directive interviews with SNCB representatives, have shown the originality and the complexity of the type of management applied in this structure.
Earnings Quality Ratings and Corporate Governance
Authors: Haber Jeffry , Braunstein Andrew
Published: January 2021

This paper extends previous research which examined whether or not there was a correlation between governance ratings and earnings quality ratings. The current paper also compares the governance ratings and earnings quality ratings on a stratified basis (dividing companies into three groups, classified as having governance which is As in the previous research, the comparison of governance ratings with earnings quality ratings did not find a statistically significant relationship. Stratifying the sample into three groups of governance classifications and comparing the average earnings quality ratings of the groups did not yield statistically significant differences, either. However, somewhat surprisingly, the governance group, and the lowest earnings quality rating was achieved .
The Concept-Creative Business Model as Success Factor
Authors: Faltin Gunter , Jacobsen Liv
Published: January 2021

Current discussions about entrepreneurship are framed primarily in terms of business administration. But entrepreneurship is more: a complex, dynamic and multifaceted phenomenon with a creative dimension that is in parts beyond economic-rationale discourse. Business models can be built upon something else than patents or research findings by transforming genuine concepts into entrepreneurial activity. Unconventionality and original thinking are essential factors for entrepreneurial success. In a world of ever-easier division of labor, entrepreneurs have the possibilities to use existing components to create new business models. This will open up perspectives for many more people to participate in entrepreneurship than previously imagined.
Evaluating Country Competitiveness in Emerging Industries
Authors: Momaya K.
Published: January 2021

Many leading countries have strategy for important emerging industries such as nanotechnology and biotechnology. Evaluating country competitiveness in such industries is a complex process, but findings can be very valuable. This article shares findings and learning of an attempt to address this vital need about competitiveness. Strategy concept of critical success factors is being extended to country level to evolve simple but effective approaches. For the purpose, this article leverages the data from the IPS National Competitiveness Report for benchmarking. The learning and insights derived through the research are used to introduce simple matrix of industry life cycle and segments to help make strategic choices for differentiated positions and also draw strategic implications.
The Role of Culture-Level Factors in Shaping On-Line Purchase Intentions
Authors: Pashkevich Vladimir , Curry David , Kellaris James , Bruvold Norman
Published: January 2021

The primary goal of this research is to enhance our understanding of the moderating role that culture-specific variables – individualism/ collectivism and culture context – play in shaping consumer intentions to use the Internet for product information search and shopping. Specifically, this research (a) operationalizes the concept of culture context by constructing an index with formative indicators, (b) develops reliable and valid scales for measuring constructs comprising the Theory of Planned Behavior (TPB), and (c) examines the boundary conditions and generalizability of the TPB in Internetmediated consumption settings. We show reliable support for the interaction between culture context, subjective norms and behavioral intention. Implications for marketing practices across cultures are discussed.
Concepts of National Competitiveness
Authors: Berger Thomas
Published: January 2021

Today, many governments follow a strategy of national competitiveness for fostering economic development. However, there is no accepted theory of national competitiveness but just different concepts behind these policies. This article aims to provide an overview of the different concepts of national competitiveness, starting with a look at firm level competitiveness. The article distinguishes between four special concepts of national competitiveness and approaches of competitive advantage. It is argued that national competitiveness should be seen as a relative rather than an absolute concept that allows for a benchmarking of nations.
Globalization and Cultural Imperialism
Authors: Meyer John
Published: January 2021

When Tokyo Disneyland opened in 1983, the Japanese people welcomed this American cultural export with open arms and open wallets. The decade that followed saw continually rising profits and the highest spending-per-guest of any Disney theme park. In 1992, the Walt Disney Company attempted to emulate this success by opening Euro Disney, only to face financial disappointment and cultural backlash. While some basis for these divergent experiences might be found in the inherent differences between Japanese and European (specifically French) culture, this is by no means a full explanation. Instead, this article places more of the onus on organizations to approach globalization in a more responsive, rather than control-oriented, manner.
Correlation of Uncorrelated Asset Classes
Authors: Haber Jeffry , Braunstein Andrew
Published: January 2021

Diversification of a portfolio has long been held as one of the cornerstones of modern portfolio theory and a key driver of investment return over the long term. Correlation is the statistical measure used to quantify diversification. The degree to which asset classes correlate will determine the degree of portfolio diversification (or lack thereof). Many investment products are being sold that claim of correlation utilizing two series of random numbers, as well. For and misleading.
Export Subsidies and Customs Unions
Authors: Mendez-Naya Jose , Gomez-Arias Tomas
Published: January 2021

This paper explores how the formation of customs unions affects the argument for export subsidies in imperfectly competitive international markets. It is shown that the existence of customs unions may eliminate the incentive for their members to subsidize exports as customs unions grow larger. Therefore, it can be affirmed that regionalism and multilateralism are complementary processes.
Fiscal Policy and Alternative Sources of Public Capital in Transition Economies: Diaspora Bond
Authors: Gevorkyan Aleksandr
Published: January 2021

State-sponsored projects in the transition economies often lack reliable finance sources as governments deal with orthodox policy limitations. At the same time reliance on relatively inconsistent natural resources export revenues, migrant remittances or conditional loans and foreign aid may not be adequate for long run development projects. One alternative is a Diaspora-sovereign bond program with a patriotic discount. Implied independent decision-making and fiscal responsibility will allow for strategic funds allocation, with an incentive for infrastructure and social initiatives investment with strong feedback into a productive economy stimulating effective demand. Ultimately these components define modern fiscal policy and are fundamental to economic growth and development. Regulated via Diaspora Supervisory Board,a Diaspora bond may also serve as the initial or renewed access to the international capital markets, especially for smaller economies and those with low sovereign ratings.
The Effect of the Dynamic Relationship between a CEO's Attitude, the Learning Process, and Domestic Market Size on International Growth
Authors: Jung Jin Sup
Published: January 2021

This study focuses on the importance of learning processes as attitude towards internationalization and international growth. In addition, this study deals with the moderating role of the domestic market munificence between the learning process and international growth. To verify the hypotheses, this study uses 102 Korean firms and the results obtained are as follows. Learning processes show positive effects on international growth. Furthermore, internal and external learninattitude and international growth. The domestic market munificence has a negative moderating role with the internal learning process on international growth.
To What Extent Can the Informal Economy Concept Adequately Explain the Dynamism of the Non-Formal Sector in Developing Countries?
Authors: Habib-Mintz Nazia
Published: January 2021

The informal economy exists in both developing and developed nations, though it is most often associated as an engine of economic dynamism in developing countries. The concept is generally defined as the sum of economic income generating activities outside of the formal economy, which are registered, tax paying and legal. Since the 1970s when the term first entered academic discourse, the informal economy conceptually evolved through several distinct phases starting with neoliberal, then to reformist and next structuralist ideology before the term outgrew its usefulness in the 1990s and turned into operate outside of the formal economy. This paper argues that the discourse of the informal economy remains inadequate and ill-defined lemma on mainstreaming the informal economy.
Examining the Long Run Effects of Export, Import and FDI Inflows on the FDI Outflows from India: A Causality Analysis
Authors: Dasgupta Nandita
Published: January 2021

The objective of this paper is to examine the effects of international trade and investment related macro economic variables, namely, exports, imports and FDI inflows on the outflows of FDI from India over 1970 through 2005. Using time series data analysis, the empirical part of the paper finds unidirectional Granger Causality from export and import to FDI outflows but no such causality exists from FDI inflows to the corresponding outflows from India. Results confirm the assumption that lagged imports and exports are a driving force of ing front.
The Impact of Regulatory Standards, Interest Rates and Trading Volume on Volatility Transmission between Cross-Listed European Equities
Authors: Dasilas Koulakiotis , Molyneux Tolikas
Published: January 2021

This paper investigates the relationship between volatility transmission and stock market regulatory structures, interest rates and trading volume for European securities which are cross-listed on stock exchanges of higher, lower or similar regulatory standards compared to their home stock markets. The empirical results suggested that the regulatory environment has a significant impact on volatility spillovers and the level of interest rates and trading volume have a positive impact on the magnitude and persistence of these volatility spillovers. These findings have potentially important implications for both regulators and investors who are concerned with the effectiveness of legislation aiming to harmonise the European stock markets and the effects of volatility transmission on investment positions across European stock markets.
Multinational Corporations' Role in Improving Labour Standards in Developing Countries
Authors: Habib-Mint Nazia
Published: January 2021

This paper revisits the discourse on the roles of various stakeholders in improving labour standards in developing countries, paying particular attention on the role of multinational corporations (MNCs). standards is a multifarious issue, often misunderstood as overlapping motivations from a plethora of actors like the nation state, national and international labour unions and donor agencies are inter-engaged in complex political-economic contexts and have yet to agree on universal labour standards. None of the actors have sole responsibility or can unilaterally improve labour standards. While MNCs are seeking profit, developing countries are caught between foreign direct investment and overall economic growth through global trade. To substantiate, this article considers representative examples from mass produced consumer goods industries, which are major foreign exchange earners in developing countries, and are positioned at the centre of North-South and SouthSouth competition in the complex matrix of global trade.
The Great Recession, Global Conditions from West to East and Back Again: A Forward Looking Commentary
Authors: Mitry Darryl , Smith David
Published: January 2021

This article examines national economies, the processes of the global financial system, the relationship to the expansion of global enterprise and the future. The article describes how the process of global economic integration was largely accomplished by a monetary amplification that supported chronic East-West trade imbalances that are unsustainable. The mechanism for much of the recent global economic growth is identified and shown to be untenable because the consequences of the process eventually results in a subsequent reversal and global contraction. Tracing the reactions in terms of who assumes the costs and who receives the benefits helps to illuminate the nature of the process and the subsequent failure. The future consequences are examined, contrasting policies are compared and recommendations for solving the problems are offered.
Trade Blocks and the Gravity Model: Evidence from Western Hemispheric Countries
Authors: Ekanayake E.M. , Mukherjee Amit , Veeramacheneni Bala
Published: January 2021

We analyze the major trade blocks in Western Hemisphere and their effects on intra-regional trade flows using data for the period 1980-2006. We use an augmented gravity model to estimate the effect of various trade blocks on trade flows within and across membership other Western Hemispheric countries. The findings of this study are consistent with findings of previous studies on Western Hemisphere trade flows and shed some light on whether the proposed Free Trade Area of the Americas is beneficial or not for Western Hemispheric countries.
Exploring the Characteristics of the Founder and CEO Succession as Causes of Corporate Longevity: Findings from Korean Long-Lived Companies
Authors: Cho Dong-Sung , Ahn Se-Yeon
Published: January 2021

What are the common characteristics of the founder and CEO succession process at long-lived companies? And how do these characteristics help companies survive long periods of time? This inductive study of 26 Korean long-lived companies led to propositions exploring these questions. Long-lived companies had long-tenured founders, less frequent successions, high ratio of insider succession and a formal succession process to secure management stability and competitiveness. It was also observed that the founding vision had an emphasis on corporate social responsibilities and that founding philosophy has succeeded to current management philosophy in most long-lived companies. The study results imply that the heritage of founding stages may play a crucial role for companies to achieve future longevity.
Institutional Theory and the Internationalization of Higher Education in South America: The Brazilian Case
Authors: Flach Leonardo , Flach Lisandra
Published: January 2021

Theory of internationalization has mainly focused on the internationalization of firms and their economic effects and has neglected the role of the education institutions. The Brazilian higher education system is the largest in Latin America (Inep, 2010) and has passed through important structural changes since the beginning of the 1990s. This paper aims to analyze, from the lens of institutional theory, the process of internationalization of higher education in Brazil. We use the lens of institutional theory as a way to understand the elements that permeate the organizational field of universities, institutional managers, regulatory agencies and decision makers at the organizational and national level. Finally, we perform an analysis of some international patterns and standards and propose strategies to the South American higher education institutions.
The Effects of Exchange Rate Volatility on Sri Lankan Exports: An Empirical Investigation
Authors: Ekanayake E. M. , Chatrna Dasha
Published: January 2021

This paper investigates effects of exchange rate volatility on Sri Lankan exports to its major trading partners. In this paper, we use a generalized ARCH-type model (GARCH) to generate a measure of exchange rate volatility which is then tested in a model of Sri Lankan exports. Testing sectoral trade data allows us to identify whether the effect of exchange rate volatility differs depending on the types of the goods traded. The results obtained in this paper suggest that the impact of exchange rate volatility differs between different categories of goods although it remains difficult to firmly establish the nature of the relationship.
Korean Education and Foreign Direct Investment: Focusing on Entry Modes
Authors: Baek Lorna , Parc Jimmyn
Published: January 2021

Education is a key for economic advancement. Thus, this study d its development to date. In doing so and by simultaneously analyzing Brain Drain Index and international university rankings comparatively, a number of issues are highlighted as unsatisfactory. In order to overcome the problems presented by the current system, this paper applies a comprehensive entry mode model to education-based foreign direct investment. A case study, benchmarking Singapore, highlights specific education policy amendments regarding liberalization that could also be applicable to the Korean education field, ultimately aiding economic advancement.
Hunt for Twin Deficits: Current Account and Fiscal Balance in Transition Economies
Authors: Gevorkyan Aleksandr
Published: January 2021

This paper is a critical effort assessing the twin deficits concept in the context of the transition economies of the Commonwealth of Independent States. Correlations between current account and fiscal balance must be interpreted with caution. Actual political economy circumstances in the region play important role in explaining external trade positions and public spending in both net exporter and net importer country groups. There are clearly two periods within a bigger transition time frame: early 1990's reforms and post Russian financial crisis through early 2000's. Cumulative weight of such factors, coupled with empirical evidence raises more questions than answers, offering no solid theoretical or empirical grounds for the case of twin deficits in the post-socialist economies of the CIS. Following standard and extended empirical analysis the paper identifies key policy guidelines for the selected transition economies. A more qualitative approach prompts an investigation into structural problems of transition, such as household consumption patterns and its relation to current account and nature of fiscal expenditure. That is the case in the post-socialist transforming economies with consumer societies.
Assessing the Performance of Telecommunication Industry in India: A Data Envelopment Analysis
Authors: Sharma Seema , Momaya Kirankumar , Manohar K.
Published: January 2021

Rapid growth of telecommunications in India has been creating opportunities for many players from Asia, Europe and other parts of world. Relative assessment of efficiencies can be used to enhance productivity and competitiveness. In this study an attempt is made to evaluate competitiveness of the telecom industry in India focusing on the efficiency. Input oriented data envelopment analysis is used to measure the relative technical and scale efficiencies of 10 service providers. Further, using output oriented model, the efficiency analysis is extended to 23 service circle areas. From the analysis performed on service providers the technically and scale efficient firms were identified. Technical and scale efficiency were assessed at circle level also. The findings confirm some assumptions and hint at several competitiveness implications for leadership in firms and government.
The Diamond Approach to the Competitiveness of Korea's Defense Industry
Authors: Moon Hee-Jung
Published: January 2021

Despite the control of U.S. and poor domestic infrastructures, the Korean defense industry has been advanced at relatively faster trajectory owing to the multiple circumstantial factors such as technocrats, drastic increase of scientists, efficient interrelationship with the heavy chemical industry, and systematic government support. reasons. Changes in the internal and external environment are calling for strategic developments of a new framework for competitive factors. The purpose of this study is to explore what constitutes could be achieved effectively in a relatively short period of time. This l framework to evaluate competitiveness of the defense industry in a more comprehensive and strategic way. Along with this model, this study uses mainly extensive literature reviews due to limitations in reliable examples of successful firms and interviews with field practitioners in the Korean defense industry.
Integration through Intermediate Goods: A Comparison of G-7 Openness to Developing Country Exports
Authors: Berdell John , Ghoshal Animesh
Published: January 2021

The fragmentation of manufacturing in G7 economies has substantially altered the way in which developing countries participate in world trade and production. Commodity chains and intertwined production networks have become increasingly important as vectors for the diffusion of technology and integration of developing countries into the world economy. We establish a set of simple and transparent benchmarks to compare and contrast the speed and extent to which production networks have integrated each of the G7 with developing economies through the importation of intermediate goods and examine these comparative indicators of G7 integration at both regional and global levels. We examine both total and intermediate goods trade flows and calculate the income-expenditure elasticity of developing-country sourced imports with respect to G7 incomes and also the elasticity of imported intermediate goods with respect to manufactured output. Within the G7, we find three tiers of openness to intermediate goods produced by developing countries, led by Germany and the US. Regional integration exhibits a clear pattern in which Central Europe appears to be integrating with developed Europe, Mexico with North America, and only East Asia is simultaneously integrating with North America, Europe and Japan.
Positioning French Management in a Multinational Landscape
Authors: Bobina Mariya , Vergnaud Stephanie , Grachev Mikhail , Shane Martin , Soparnot Richard
Published: January 2021

The paper examines and summarizes cultural attributes of French management and presents the analysis of the survey of French middle managers regarding perceptions of culturally endorsed behaviors and values. It further develops the findings of the Global Leadership and Organizational Behavior Effectiveness (GLOBE) research and positions French management profile in cross-cultural space with respect to "cultural distance" between France and other societies. Comparing the 2009-2010 survey results with a base year, the paper results substantiate the validity of the cultural attributes of French management practices and behaviors.
Energy Consumption, CO2 Emissions and Economic Growth: Evidence from India
Authors: Kumar Tiwari Aviral
Published: January 2021

The study examined causality using static and dynamic frameworks, by considering energy consumption, C02 emissions and economic growth for India. It used the Granger approach (VECM framework) along with the Dolado and L체tkepohl approach. It found that CO2 Granger-causes GDP while energy consumption does not Granger-cause GDP, GDP does not Granger-cause CO2 while energy consumption Granger-causes CO2 emissions, and CO2 emissions Granger-causes energy consumption but GDP does not Granger-causes CO2 emissions. This implies that India should opt for policies that stress on energy conservation and efficient utilization of energy.
Platform Strategy: An Empirical Study on the Determinants of Platform Selection of Application Developers
Authors: Ku Sang-Wuk , Cho Dong-Sung
Published: January 2021

This paper is to prove empirically that the cooperative business structure and conflict control capability of a platform leader and that the complementarity of a platform will have positive impacts on whether complementors select specific platforms in 245 platform selection examples of 99 application developers. Past research has not been sufficient regarding platform selection, but has been similar to other research on ERP platforms. Therefore, it is very meaningful to make an empirical study on the platform selection of complementors, which has not yet been performed. As a result, it is important for platform leaders to establish their own cooperative business structures and secure the complementarity of their platforms. Therefore, platform leaders should create more transaction opportunities by helping complementors to develop more complements and making business ecosystems grow more and more.
Financial Environment and the Value-Leverage Relation
Authors: Aggarwal Raj , Kyaw NyoNyo , Zhao Xinlei
Published: January 2021

We find that the value-leverage relation varies considerably in magnitude across countries. We argue that this difference in value Indeed, we find that the value impact of leverage is less negative in bank-oriented countries and more negative in countries with highly developed stock markets. Further, leverage-value relation seems to be more sensitive to institutional settings among high-growth firms than among low-growth firms. These findings are robust to alternate model specifications and sub-sample selections.