bluuebunny/crossref_metadata_2025 huggingface dataset:
Organisation of facilities management in relation to core business
Authors: Anker Jensen Per
Published: May 2011

Purpose

The purpose of this article is to clarify the organisational relationships between facilities management (FM) and core business (CB) and how these relationships vary for strategic and operational support functions.

Design/methodology/approach

The research takes a starting point in Michael Porter's theory of value chains but also draws on theory of strategic FM, governance and forms of coordination. The value chains for CBs and support functions are analysed and related to empirical data from a case study on a broadcasting corporation during a major relocation.

Findings

A particular support value chain is identified and a typology of archetypes of support functions is developed. The relationship between CB and strategic support is identified as primarily a general business orientation, while the relationship between CB and non‐strategic functions is identified as mainly a specific customer orientation. It is concluded that a market relationship – internally or externally – is appropriate for non‐strategic functions, while it is important to create a kind of coalition between strategic FM functions and the CB management.

Originality/value

The paper provides a theoretical‐ and empirical‐based analysis of the organisation of FM in relation to CB. The proposed solution of creating a strategic coalition has not been suggested before in scientific literature, but a recent example in practice has occurred. This supports the proposal and shows its value for practitioners.
Implementation of a considerative checklist to improve productivity and team working on medical ward rounds
Authors: Herring Roselle , Caldwell Gordon , Jackson Steve
Published: May 2011

Purpose

In the changing environment of the National Health Service (NHS) medical ward rounds have become increasingly complex. With complexity comes the inevitable risk that things will go wrong. Serious failures in care can have important consequences for individual patients, their families, cause distress to health care staff and undermine public confidence in the NHS. The paper's aim is to introduce the concept of a medical ward round considerative checklist to improve ward round processes, effectiveness, reliability and efficiency, aid team working and foster better communication.

Design/methodology/approach

The checklist includes aspects of ward round preparation, the consultation, progress assessment, discharge planning and handover. It is a “considerative checklist” as it not simply checking if an essential component has been done but rather that it has been considered, discussed, action identified and communicated effectively and involves an “at the point of care check and correct” process.

Findings

The introduction of the checklist has provided a systemic approach to medical ward rounds, provided reassurance that quality care is given, aided active participation from all health care professionals and reignited team work. It has streamlined handover, improved patient and professional communication, improved medical documentation and provided an audit tool for ongoing improvement.

Research limitations/implications

The diversity of general medicine makes standard measures of quality of care such as length of stay, morbidity and mortality outcomes hard to measure; however, qualitative data can be obtained.

Originality/value

The authors have developed a systemic ward round approach which ensures attention to quality and safety at the point of care, encourages team working and improvements can be documented.
Patient safety: a wake‐up call
Authors: Sheps Samuel B. , Cardiff Karen
Published: May 2011

Purpose

The aim of this review is to examine factors that may explain why other industries are considered ultrasafe while progress toward preventing adverse events in health care is not considered to have reached that level.

Design/methodology/approach

The paper is a narrative review.

Findings

Despite a decade of intense effort, the problem of patient harm in health care facilities remains a challenge. A recent study of ten hospitals in North Carolina, which have actively engaged in patient safety initiatives, reported rates of adverse events similar to those in the Institute of Medicine report, To Err Is Human in 1999. Seven key issues and their interaction are described.

Research limitations/implications

This review focuses on broad issues that likely impede progress generally, not on individual project or individual hospital program success stories.

Originality/value

The authors believe the difficulty in making significant headway on the patient safety agenda is due in part to the fact that it was always going to be a long (indeed never ending) struggle – aviation for example took almost 60 years to become ultra‐safe – and in part to misunderstanding the nature of the dynamics that are involved in the generation of adverse events in risk critical industries. The paper reflects on the nature of the safety initiatives that health care has tended to focus on, but which have not sufficiently taken note of central concepts of safety science, as well as on features of the health care system itself that have impeded, in the authors' view, progress on enhancing patient safety.
The role of the municipality in waste water management in Bahawalpur city
Authors: Shafqat Adila
Published: May 2011

Purpose

The main objective of this paper is to analyze the role of municipalities in waste water services in Bahawalpur city.

Design/methodology/approach

The study was conducted by a variety of sources, such as regulations, status reports, position papers, as well as articles and research reports.

Findings

No technology, capital or expertise can protect the environment if local governance is not participatory and pluralistic. Local government refers to specific geographically delineated areas to deliver a range of specified services. But the role of governance is not only to provide services consistent to the residents but also to preserve the life and liberty of residents and to create and promote an environmentally sustainable development. This largely depends upon the relationship which local authorities are able to create with the local communities. These cross sectoral programs can improve the environmental performance of the municipalities in Bahawalpur, where many local problems are the result of the poor supervision and planning of municipal authorities. An articulation of legislation and participatory approach can be proclaimed at the local level if real progress is to be made towards sustainability.

Practical implications

Water and waste water services are highly capital‐intensive so district and city government should start projects and schemes in the urban center to govern all the wastewater systems properly. Involvement of the private sector in these services is also expected in new and more efficient ways. According to a good governance principle planning should take into account not only the economical and technical factors but also local participation, priorities and traditions etc. so the benefit and experience of different organizations can be utilized.

Originality/value

The paper focuses on the role of municipalities in water and waste water services in an area of Pakistan.
US environmental governance and local climate change mitigation policies
Authors: Heberle Lauren C. , Christensen Isabella M.
Published: May 2011

Purpose

The purpose of this paper is to investigate local climate change mitigation planning in California with the goal of understanding how the relationships between the state, the local air agencies, and the localities within their jurisdictions shape the willingness and capacity of local communities to plan for climate change mitigation through greenhouse gas emissions reduction.

Design/methodology/approach

The research: analyses documents relating to localities' climate change mitigation planning activities, including the production of action plans, general plan elements, emissions inventories, or official resolutions supporting mitigation planning, establishment of partnerships with other governmental and non‐governmental organizations, and development of community input processes and planning committee membership and structure. It also involves measurement and descriptive analysis of variables capturing: local air agencies' institutional character, orientation regarding climate change policymaking, and mitigation planning activities and programs; and localities' mitigation planning processes and policies, institutional and demographic characteristics, and relationships with other sub‐state entities working on climate change mitigation.

Findings

Intergovernmental partnerships can powerfully impact localities' technical and financial capacities for pursuing climate change mitigation planning. This exploratory study points to the potential for strong leadership by air quality control agencies to greatly influence the decision of localities within their jurisdictions to engage in voluntary mitigation planning. Furthermore, decentralized collaboration does not prevent, and may encourage, policy harmonization through localities' widespread reliance on the technical assistance from specialized non‐governmental organizations.

Practical implications

Findings might enable advocates of local‐level climate change mitigation planning to target their resources for maximal returns in terms of geographic policy coverage and pledged GHG emissions reductions. Theoretically, this study contributes to discussions on the relationship between the quality of policy outputs and various forms of environmental governance.

Originality/value

Climate change mitigation planning in the USA is in a formative stage. In fact, the authors found that even the California Governor's Office of Planning and Research (OPR) must work continuously and with imperfect data to compile a list of the state's local‐level mitigation planning efforts. This study contributes to the growing body of knowledge of local planning policy innovations in California and highlights the importance of leadership from the regional scale for city‐level engagement with mitigation planning.
The effects of institutional design in program performance
Authors: Tavares António F. , Mamede Luís
Published: May 2011

Purpose

The aim of this paper is to investigate the effects on implementation and performance of different designs of public programs to promote sustainability goals.

Design/methodology/approach

The study selects eight local sustainability programs in Portugal using two different program designs and compares several indicators of performance in terms of program implementation, outputs, and outcomes.

Findings

Cities using the top‐down approach to programmatic intervention are more successful in accomplishing sustainability goals than cities engaging in the bottom‐up approach. The second program design produced more visible physical outputs, whereas the first effectively achieved sustainability goals.

Practical implications

The main policy implication of the study is that program design and structure are decisive to achieve sustainability goals. In the case of Programmatic contracts run by general‐purpose local governments, the incentive structure facilitates the appropriation of goals for electoral purposes by local officials. The Programmatic contracts are administered by local government officials who are primarily concerned with economic revitalization and delivering tangible infrastructure. The sustainability label should be removed from these initiatives.

Originality/value

The paper shows that the incentive structure created by program design features influences the achievement of sustainability goals by local communities.
Climate change action at the city level: tales from two megacities in Brazil
Authors: D'Almeida Martins Rafael , da Costa Ferreira Leila
Published: May 2011

Purpose

The purpose of this paper is to analyze the factors shaping climate policies in two megacities in Brazil – São Paulo and Rio de Janeiro – through a multilevel perspective. The paper seeks to explore how climate change is being framed and how local governments are responding to it in terms of policy strategies.

Design/methodology/approach

Through empirical research based on two case studies, the authors discuss the governing of climate change action and analyze the factors that can constrain or undermine these actions based on information collected from reports, institutional web sites and academic and newspaper articles.

Findings

The participation in transnational municipal networks has been central for promoting and supporting climate change actions in both cities following the international experience. The organization and implementation of climate change measures rely on a landscape formed by multiple actors often spanning several sectors and levels of governance.

Originality/value

Most of the literature on climate change policy at the local level focuses on the context of developed countries. Analyses of advanced developing countries like Brazil are sparse as well as comparison in light of the international experience. The paper also draws attention for the lack of awareness for adaptation at the local level in these countries, building upon recent scientific findings on global climate change.
Multinational Enterprises and the New Development Paradigm: Consequences for Host Country Development
Authors: Dunning John H. , Fortanier Fabienne
Published: May 2011

The New Development Paradigm (NDP) integrates the theoretical and empirical views on development that have gained prominence since the mid‐1990s. In particular the multifaceted nature of development objectives‐including social and ecological development next to economic growth‐and the critical role of institutions in the development process characterize the NDP. This new perspective has important consequences for understanding the role of Multinational Enterprises in fostering development. This paper addresses these implications and delineates a research agenda that pays systematic attention to the wide variety of direct and indirect, active and passive ways in which MNEs can (and do) affect sustainable development
Towards Sustainable Mining: The Corporate Role in the Construction of Global Standards
Authors: Dashwood Hevina S.
Published: May 2011

Drawing upon research on the initiatives of Canadian mining companies, this paper examines private efforts in the mining sector to promote acceptable standards of corporate social responsibility (CSR). This paper asks how important emerging global CSR norms have been in influencing the adoption of CSR policies. Sustainable development is a universally accepted principle of environmental protection, and serves as an important indicator of the influence of global CSR norms on mining companies. Most mining companies have embraced the concept of sustainable development to frame their CSR policies. Emerging global CSR norms have thereby set the macro‐level context in which CSR policies have been adopted and evolved at the micro level.
Is Sustainable Development in Multinational Enterprises a Marketing Issue?
Authors: Barthel Patrick , Ivanaj Vera
Published: May 2011

Do Multinational Enterprises (MNEs) implement managerial strategies oriented towards Sustainable Development (SD) to respond to an essentially marketing issue? The article answers this question by showing that the commitment to SD implies an evolution of the marketing paradigm towards some more responsible marketing. More precisely, this commitment implies a vision of marketing in terms of competences, focusing mainly on the translation of SD values into customer benefits that might bring a lasting competitive advantage. It presupposes a genuine integration into the companies’ marketing strategies and implies that an essential boundary is set, satisfying customers and maintaining and improving the balance of the quality‐price‐services ratio in the commercial offer on the market.
Performance of Mergers and Acquisitions in the Pharmaceutical Industry: A Comparative Perspective
Authors: Demirbag Mehmet , Ng Chang‐Keong , Tatoglu Ekrem
Published: May 2011

This study provides new evidence on the nature of value creation in M&A activity based on a sample of giant pharmaceutical M&As and independent non‐M&A rival firms. Relying on multiple indicators of performance, their post‐M&A performance was compared with their pre‐M&A performance as well as with the performance of other major pharmaceutical firms that have not been involved in M&A activity. Based on three measures of operating M&A performance, it has been noted in general that no value creation was realized in the sample M&As in terms of research productivity, return on investment, and profit margin. The sample M&As had lower research productivity than that of both pre‐M&A and independent non‐M&Arival firms. In a similar vein, with regard to return on investment, M&As were not better than their pre‐M&A firms, but performed relatively better than their non‐M&A rivals. As far as the profit margin is concerned, the sample M&As, however, appeared to have better performance than pre‐M&Afirms and almost on par with the non‐M&A rivals.
Cost‐Benefit Models of Stakeholders in the Global Counterfeiting Industry and Marketing Response Strategies
Authors: Amine Lyn S. , Magnusson Peter
Published: May 2011

Global counterfeiting is escalating despite resistance by many parties. We identify three groups of stakeholders who have vested interests in either resisting or promoting counterfeiting. Among resistors to counterfeiting are national governments, international policymakers, and corporate intellectual property owners; among promoters are the counterfeiters themselves and many consumers. We argue that current supply‐side resistance approaches alone are inadequate; attention is also needed to resisting consumer promoters on the demand‐side of the market. Drawing from a review of the literature, we develop a new analytical framework which depicts complex interfaces between IP owners and consumers. A second framework presents actionable marketing strategies targeted to different consumer segments.
Culture Typing versus Sample Specific Accuracy: An Examination of Uncertainty Avoidance, Power Distance, and Individualism for Business Professionals in the U.S. and Canada
Authors: MacNab Brent R. , Worthley Reginald
Published: May 2011

Comparative cultural closeness between Canada and the U.S. established in part by the Hofstede (1980) study continues to influence some business research efforts that assume cultural parity between the two nations. Sampling business professionals, evidence emerges that cautions assuming cultural parity between Canada and the U.S. based on typical and selected Anglo culture type dimensions. Contributing as an updated empirical test of the Anglo culture type assumption between the two nations, uncertainty avoidance was higher in the U.S. sample and varied more by country than by individual characteristics or by an indication of professional discipline type.
Organizational Culture, Information Technology Capability, and Performance: The Case of Born Global Firms
Authors: Zhang Man , Tansuhaj Patriya S.
Published: May 2011

The increasing economic importance and the number of born global firms make it worthwhile to study what leads to their success in the international market. To better understand this international business phenomenon, we conducted in‐depth interviews with managers, coupled with public database and Web site searches. Research propositions were developed based on an extensive qualitative method. The relationship between organizational culture, information technology capability, and performance is proposed in the context of born global firms, based on viewing the concept of IT capability from the resource‐based view. We further provide recommendations for managers, theoretical contributions and suggestions for future research.
Global Decision‐Making: The Role of Managerial Curiosity in Assessing Potentially Disruptive Information Technologies
Authors: Garrison Gary , Harvey Michael , Napier Nancy
Published: May 2011

This paper examines the role of managerial curiosity as a critical factor in determining the future impact of disruptive information technologies in a global organization. Specifically, this paper presents curiosity as a managerial characteristic that plays an important role in identifying disruptive information technologies and facilitating their early adoption. Further, it uses resource‐based theory as a theoretical lens to illustrate how managerial curiosity can be a source of sustained competitive advantage. Finally, it examines the individual decision styles that are best suited in assessing disruptive information technologies.
Multinationality, R&D Intensity, and Firm Performance: Evidence from U.S. Manufacturing Firms
Authors: Bae Sung C. , Park Bell J. C. , Wang Xiaohong
Published: May 2011

We examine whether firms’ multinationality leads to better performance and what the role of R&D investment is in the multinationality performance linkage. Unlike the previous studies, we employ both accounting‐ and market‐based measures of firm performance for a large sample of U.S. manufacturing firms. Our results show that the empirical relation between multinationality and performance is not monotonic but varies with the phase of a firm’s multinationality, starting with a negative relation initially, followed by a positive one, and then again a negative one. This horizontal S‐shaped curvilinear relation of multinationality is more pronounced for the market‐based performance measure and is supportive of the three‐stage theory of internationalization. We also find that a firm’s multinationality is related to greater firm performance when the firm possesses R&D investment, and that the effect of R&D increases with the extent of a firm’s multinationality. These results lend strong support for the Internalization theory and the resource‐based view of firms’ international expansion. Our results are robust to different model specifications with an alternative measure of multinationality.
A Comparison of Capital Structure Determinants: The United States and The Republic of Korea
Authors: Kim Hanjoon , Berger Paul D.
Published: May 2011

This paper investigates the determinants of the capital structure of large corporations headquartered in the United States and Korea. We consider five explanatory variables: profit, company size, non‐debt tax shields, growth, and business‐risk, along with several industry indicator variables as independent variables and examine, for each country, the relationship to market value based leverage ratio. With our rigid criteria for inclusion in the study, we study the top thirteen companies (by size) in each of seven industries. The majority of our findings indicate that we can generalize to Korea what has been found for Japanese companies/industries relative to the U.S.
Estimating the Dynamic Impact of Financial Liberalization on Equity Returns in Southeast Asian Markets
Authors: Ramcharran Harridutt , Kim Doseong
Published: May 2011

Recent studies of the impact of financial liberalization in emerging markets have not examined the dynamic impact of the liberalization process on equity returns despite the important implications on ongoing reform policies. We analyze six Asian equity markets using a dynamic adjustment model with three independent variables: market capitalization value, pricebook value ratio, and price‐earnings ratio. We use panel data for the period 1991‐2000 and the LSDVR (least square dummy variable regression) approach to identify the timing effects of liberalization. The stability of the model is also tested. The results indicate, in most cases, the significance of all three variables and the timing effects. Evidence of significant structural changes is also supported.
Family Control, Underwriter Prestige, and IPO Underpricing: A Cross Country Analysis
Authors: Walker Thomas
Published: May 2011

We study the relationship between underwriter prestige, family control, and IPO underpricing in an international setting. Data are collected for 5,789 firms that went public across twenty‐five countries between 1995 and 2002. We find that non‐penny‐stock and non‐U.S. IPOs from countries where firms are predominately family‐controlled benefit from associations with well‐known investment bankers; i.e., these firms are less underpriced than similar firms from countries with a low level of family control. At the same time, our findings support prior evidence that suggests that underwriter prestige is positively related to underpricing in the U.S. IPO market. Family‐controlled firms should consider the findings of this study, which identifies factors that are associated with more successful IPO outcomes.
The Role of the Board and Its Interaction with the Successor’s Human Capital in the Asian Family Enterprise
Authors: Lee Soo‐Hoon , Phan Phillip H. , Yoshikawa Toru
Published: May 2011

This study examined the human and social capital factors associated with higher post‐succession firm performance in family enterprises in Singapore. We also investigated the moderating influence of the board of directors in terms of its service role as stewards of the enterprise. We found that a successor’s industry experience and diversity of network ties were positively associated with firm performance and boards that focused their role as advisors to the successor enhanced post‐succession firm performance.
A Pan‐European Approach to Customer Satisfaction: An Optimal Strategy?
Authors: Ueltschy Linda C. , Laroche Michel , Rita Paulo , Bocaranda Claudia
Published: May 2011

This study investigated the viability of using a Pan‐European approach for professional service offerings in Europe by first establishing measurement equivalence and then exploring the influence of culture on service quality and customer satisfaction. Utilizing scenarios involving a dental office visit, respondents from Portugal, France, and Germany participated in a 2X2 factorial experiment in which the researchers manipulated both expectations (low/high) and service performance (low/high). Respondents from France and Portugal expressed similar levels of customer satisfaction and perceived service quality, which were significantly different from those of the German respondents except when both expectations and performance were low.
Strategic Inertia and the Japanese Pharmaceutical Industry
Authors: Slater Stephanie , Paliwoda Stan , Slater Jim
Published: May 2011

This paper examines the behaviour of Japanese pharmaceutical corporations in the light of recent merger activity, questioning strategic momentum theory given the particularly significant influence of culture on the decision‐making process in this market. The international performance of Japan’s pharmaceutical industry has been poor; therefore, we examine the regional orientation of the top global pharmaceutical TNCs, inquiring as to why there has not been greater convergence among Triad countries. Irrespective of cultural differences, this industry has been slow to respond to international macro change, but mergers, acquisitions, and other convergence strategies are now being observed.
International Franchise Expansion: Does Market Propinquity Matter?
Authors: Hoffman Richard C. , Kincaid Joel F. , Preble John F.
Published: May 2011

Consistent with traditional internationalization theory, we argue that, when a firm chooses franchising to achieve market penetration, market propinquity/similarity matters. Using a modified gravity model, we examine six country characteristics believed to enhance the flow of franchise activity among 39 nations. Our findings support the notion that market propinquity facilitates the flow of franchises between nations. Franchise expansion is greatest when the home and host nations are similar in terms of geography, culture, media availability, and political risk. The management implications of these findings are discussed in detail.
The State of Research on Multinationals and Emerging Markets
Authors: Pillania Rajesh K. , Fetscherin Marc
Published: May 2011

The purpose of this article is to investigate the state of research on multinationals and emerging markets. For this we look at existing literature from the disparate fields in which multinationals and emerging markets have been explored in the last forty years (1968‐2008). The paper finds that there is a plethora of material on multinationals and emerging markets and our bibliographical search resulted in 1,282 articles with 2,174 authors published in 514 journals. The three dominant disciplines and their underlying journals are management, business and economics accounting together about seventy percent of all publications. In the case of the management and business journals, the top ten percent account for fourty‐three percent of all publications and fifty percent of all citations. The most productive and influential journals are JIBS and HBR.
The Role of HR in Cross‐Border Mergers and Acquisitions: The Case of Indian Pharmaceutical Firms
Authors: Budhwar Pawan S. , Varma Arup , Katou Anastasia A.
Published: May 2011

Mergers and acquisitions (M&) are increasingly becoming a strategy of choice for companies attempting to achieve and sustain competitive advantage. However, not all M&As are a success. In this paper, we examine the three main reasons highlighted in the literature as major causes of M&A failure (clashing corporate cultures, absence of clear communication, and employee involvement) in three Indian pharmaceutical companies, and we analyze the role played by the HR function in addressing them. Also, we discuss the importance of gaining the commitment and focus of the workforce during the acquisition process through employee involvement.
Internationalization Strategy of MNEs from Emerging Economies: The Case of Huawei
Authors: Li Sun Sunny
Published: May 2011

With the current rise of multinational enterprises (MNEs) from emerging economies (EE), more attention is now being directed to EE MNEs and what drives the internationalization of these companies. In this article we aim to provide more insights into the strategies and development of EE MNEs by conducting an in‐depth study of a Chinese high‐tech company in the communications equipment industry: Huawei. Our case study proposes that EE MNEs (1) tend to nurture their capability in the domestic market as a base before internationalization; (2) prefer to enter markets with fewer barriers in cultural, technological, economic, and institutional distances to accumulate experience and move up the value curve; and (3) use inward and outward linkages to complement their strengths and offset their weaknesses in the global market. Our study on the internationalization patterns of EE MNEs enriches and broadens current MNE theory.
Internationalization and Company Performance: A Study of Emerging Russian Multinationals
Authors: Vaatanen Juha , Podmetina Daria , Pillania Rajesh K
Published: May 2011

Russia is one of the fastest growing emerging economies and large Russian companies, mainly resource exporters, have entered the global markets in recent years. The internationalization process of Russian enterprises and its implications on foreign direct investment paradigms have attracted global interest. This paper studies the effect of internationalization on the performance of large Russian companies (state‐owned, privatized and de‐novo). The results show that international operations have a significant effect on company performance indicators. Companies with international operations have significantly higher profitability and labor productivity. However, profitability or labor productivity is not significantly higher in the early years of trade liberalization. The positive effects grow gradually with the integration of Russian companies to world markets. Specifically, the expansion of the de‐novo private sector has been strong.
Multinationality as a Moderator of National Institutions: The Case of Culture and Capital Structure Decisions
Authors: Ramirez Andres , Kwok Chuck
Published: May 2011

Literature in international business and finance share the belief that country‐level institutions affect the decisions of corporations. In this study, we highlight the other side of the picture and propose that MNCs can moderate the impact of the national institutions of a country. Unlike previous studies, we treat culture not only as an explanatory variable but also as a moderator. We posit that multinationality moderates the influence of national culture on corporate financial leverage. Using a large panel data set of 50 countries, we show that the multinationality of a firm decreases the impact that national culture has on its capital structure. Additionally, our study makes another significant contribution by establishing existing cultural dimensions as economically and statistically significant determinants of capital structure.
Validation of Moving Average Trading Rules: Evidence From Hong Kong, Singapore, South Korea, Taiwan
Authors: Metghalchi Massoud , Du Jianjun , Ning Yixi
Published: May 2011

This paper tests two moving average technical trading rules for four Asian markets. Our results indicate that moving average rules do indeed have predictive power and can discern recurring price patterns for profitable trading. Moreover, our results support the hypothesis that technical trading rules can outperform the buy‐and‐hold strategy. Break‐even one‐way trading costs are estimated to be high for all four markets. To confirm the test outcome, robust tests based on bootstrap and the related t‐tests among the markets are also carried out. We conclude from the statistical results that moving average rules are valid and indeed have predictive power. It is implied that the trading rules may be used to design a trading strategy that will beat the buy‐and‐hold strategy in the Hong Kong, Singapore, South Korea, and Taiwan markets. The contribution of the current study is that this is the first validation test of trading rules using four markets at a similar development stage and culture tradition; and in the tests, we use most current and longer periods than the periods used in previous literature. Our robust tests are unique and considered distribution‐free.
Foreign Direct Investment and Evaluation of Country Risk: an Empirical Investigation
Authors: Vijayakumar Jayaraman , Rasheed Abdul A. , Tondkar Rasoul H.
Published: May 2011

This paper investigates the extent to which country risk ratings influence the inflow of foreign direct investment (FDI). Using International Monetary Fund (IMF) data from over 100 countries and Euromoney’s country risk ratings over a ten‐year period, this study finds that country risk ratings have a significant influence on FDI. This effect is stronger for US FDI. We also analyze the relative importance of the individual components of the country risk index.
European Economic Integration and Stock Market Co‐Movement with Germany
Authors: Johnson Robert , Soenen Luc
Published: May 2011

Using daily returns from 1980‐2006, we find a significant contemporaneous association between all European Union (EU) equity markets and Germany. There is, however, no significant indication that the German stock market leads or lags the movements in the other EU stock markets. A higher share of imports by Germany from other EU countries, as well as fluctuations and increased volatility in the exchange rate, have negative effects on stock market co‐movements. Conversely, the difference in equity market capitalization with Germany, the greater the foreign direct investment by Germany, and the fact of belonging to the eurozone all contribute to greater stock market co‐movement.
Networks, SMEs, and International Diversification
Authors: Zimmerman Monica A. , Barsky David , Brouthers Keith D.
Published: May 2011

Despite changes in international trade agreements and the introduction of new technologies that facilitate international business, many firms, especially SMEs, still do not diversify into international markets. In this paper, we suggest that an important factor that can influence the international diversification decision is social networks. We hypothesize that both the strength of the ties to international firms and the size of a SME’s international network influence its decision to diversify internationally. Our analysis suggests that the strength of international network ties significantly influences SME international diversification, but that the size of the international network does not. These results have important implications for researchers, managers, and public policy makers.
Regional and Global Alliance Network Structures of Triad Multinational Enterprises
Authors: Banalieva Elitsa R. , Athanassiou Nicholas
Published: May 2011

This study analyzes the structure of regional and global alli‐ance networks of multinationals. It examines the network structure of 172 Triad (U.S., Western European, and Japanese) multinationals during 2001‐2003 and how it affects subsequent corporate performance during 2004‐2006. We study a framework of regional/global strategies based on the social network view of relational ties among firms. Thus, we offer a new perspective to the growing literatures on the regional/global strategies and internationalization of alliance networks.
A Perspective on International Business Scholarship: Is It Regional or Global?
Authors: Perez‐Batres Luis A. , Pisani Michael J. , Doh Jonathan P.
Published: May 2011

This paper contributes to the international business lit‐erature by exploring the degree of globalization in our international business journals. Through an investigation of all multi‐authored articles in core international business journals over a five‐year period, we test the nature of international business authorship by following Rugman’s insights on the regional nature of the MNE. Our findings suggest that within the Triad regions of North America and Western Europe, and similar to MNE patterns and international commerce, international business research is not global. In contrast, within the Triad region of Developed Asia, we find that international business research is global.
Reconciling Internalization Theory and the Eclectic Paradigm
Authors: Rugman Alan M.
Published: May 2011

The eclectic paradigm of Dunning (1980) (with its OLI and four motives for FDI framework) can be reconciled with the firm and country matrix of Rugman (1981). However, the fit is not perfect. The main reason for misalignment is that Dunning is focused upon outward FDI into host economies, whereas Rugman’s matrix is for firm‐level strategy covering MNE activity in both home and host countries
What are Ownership Advantages?
Authors: Lundan Sarianna M.
Published: May 2011

In this paper we examine three distinct types of ownership advantages, and argue that these are associated with three different kinds of limits to the growth of the firm. For some firms, the inability to regenerate its asset‐based advantages is critical, while for others, the inability to effectively coordinate its assets (inside or outside the firm), or the inability to negotiate the nonmarket environment are more salient. We think that the identification of different analytical categories of ownership advantages enables the construction of better proxies in empirical research, and helps to explain the limited geographical reach of MNEs observed in the literature.
The Entrepreneur, Ownership Advantages and the Eclectic Paradigm
Authors: da Silva Lopes Teresa
Published: May 2011

According to John Dunning’s eclectic paradigm, firms need to have ownership, location, and internalization advantages in order to cross borders and engage in foreign direct investment. By drawing on historical evidence on the evolution of a group of leading marketing‐based multinationals in consumer goods, this paper claims that, despite its richness, the eclectic paradigm, and in particular the concept of “ownership advantages,” needs to be revised and extended to take into account different levels of institutional analysis. For the eclectic paradigm to give a rounded view of the internationalizing firm, it needs to acknowledge the critical importance of firm‐specific ownership advantages, such as the role of the entrepreneur.
A Strategic Management Analysis of Ownership Advantages in the Eclectic Paradigm
Authors: Verbeke Alain , Yuan Wenlong
Published: May 2011

This paper proposes a new typology of Ownership (O) advantages as a function of their differential managerial implications in established multinational enterprises (MNEs). We argue that the mainstream typology of O advantages proposed in Dunning’s eclectic paradigm does not recognize the uniqueness of individual firms. We therefore propose a new typology of O advantages, which distinguishes among four types, based on the geographic source of such advantages and their transferability across borders. Moreover, we acknowledge the importance of resource recombination advantages. Two case examples illustrate the implications of the new typology for established MNEs.
Institutional Analysis and the Determinants of Chinese FDI
Authors: Alon Titan
Published: May 2011

Building on prior literature, this paper provides an empirical analysis of the impact of the Chinese institutional environment on its globalization patterns. A framework is presented through which distortive government policies act upon existing country and firm‐specific advantages, giving rise to institutional‐specific (dis)advantages. The applicability of this framework is then tested empirically through an unrestricted regression model that controls for the standard explanatory factors of inter‐country foreign direct investment (FDI) in comparing state and private sector outbound foreign direct investment (OFDI) determinants. This study concludes that institutional discrimination creates relative advantages for state‐owned firms at a cost to private enterprise, leading to divergences in IB strategies.
The Impact of Home Country Institutional Effects on the Internationalization Strategy of Chinese Firms
Authors: Voss Hinrich , Buckley Peter J. , Cross Adam R.
Published: May 2011

Mainland Chinese firms have become important international investors. Many have gained their capabilities to internationalize in a domestic institutional environment characterised by significant market imperfections. In this study, we argue that the imperfections affect firm behavior depending on firm size, ownership form, and location. We find preliminary support for the notion that large, well connected Chinese firms benefit most from institutional advantages, but that smaller firms internationalize because of institutional constraints. This represents a more nuanced view of the determinants of Chinese firm internationalization than is evident in prior research, with consequences for future theorising and empirical research on Chinese MNEs.
The Literature on Chinese Outward FDI
Authors: Wei Ziyi
Published: May 2011

Since China initiated its “go global” policy that promotes its overseas investment, China’s Outward Foreign Direct Investment (OFDI) has increased almost twenty times during the last 10 years, reaching $55.9 billion in 2008. The issue of internationalization of Chinese OFDI has attracted increasing attention of researchers from a business perspective. This article systematically reviews the previous studies on overseas investments by Chinese MNEs and discusses the characteristics of Chinese internationalization behavior at both firm level and country level. The internationalization of Chinese companies cannot be understood as a simple game of “catch up” with established MNEs, and more firm‐level empirical studies should be carried out on how these characteristics influence firms’ strategic decisions.
ICT Development and the Regional vs. Global Strategies of MNEs
Authors: Tang Linghui , Trevino Len J.
Published: May 2011

This paper investigates the impact of information and communication technology (ICT) on the spatial dispersion of FDI. Using a gravity model, we find that geographic distance remains negative for bilateral FDI activities and ICT advances in source countries have no statistically significant impact on outward FDI. However, ICT advances in host countries have a positive moderating effect on the relationship between distance and FDI. In other words, although ICT does not change the regional orientation of MNEs, it has increased the ability for a country to attract FDI by increasing its attractiveness as an FDI destination in a region.
Corporate social responsibility and organizational effectiveness of insurance companies in Nigeria
Authors: Olowokudejo Folake , Aduloju S.A. , Oke S.A.
Published: May 2011

Purpose

The purpose of this paper is to present a theoretical and empirical relationship between corporate social responsibility (CSR) and some dimensions of organizational effectiveness (OE) of insurance companies in Nigeria.

Design/methodology/approach

Data were obtained from a field survey in insurance companies in Lagos using structured questionnaires. Responses from the survey were statistically analyzed using descriptive statistics and Pearson product moment correlation.

Findings

Results of the study indicated that insurance companies are involved in all four forms of CSR activities (business ethics, urban affairs, consumer affairs and environmental affairs) with consumer affairs receiving the most active involvement. The study indicated that OE of the participating insurance companies is to a large extent satisfactory. However, involvement in CSR was found to correlate positively with OE.

Research limitations/implications

The study also indicated that insurance companies still suffer from the lack of awareness, unavailability of information to identify the needs of a developing society, lack of qualified workforce and adverse economic factors that prevent them from performing CSR activities.

Originality/value

From a practical perspective, the study is needed to assess if investments in CSR is worthwhile or not.
The demand for micro insurance in Ghana
Authors: Akotey Oscar Joseph , Osei Kofi A. , Gemegah Albert
Published: May 2011

Purpose

The purpose of this paper is to identify the factors which influence the demand for micro‐insurance services among the informal sector workers of Ghana who are quite vulnerable to various risks in the economy.

Design/methodology/approach

The study adopts a quantitative technique based on primary data sampled randomly from 100 informal sector workers from four major market centers in Accra, Ghana. The probit regression model was used for the empirical investigation.

Findings

Empirical investigation using the probit model indicates that premium flexibility, income level and nodal agency are significant determinants of micro‐insurance demand. Insurance knowledge, expectation (trust) and marital status were also found to have positive and significant impact on the demand for micro insurance. Interestingly, the empirical analysis shows that formal education is not a significant determinant; rather one's level of insurance knowledge has a positive and significant impact on micro‐insurance demand.

Social implications

Insurers must consider the nature of the cash‐flow of informal workers in the design of premiums. The government must integrate micro insurance into its poverty reduction program.

Originality/value

The micro‐insurance market is very new and unresearched in Ghana. This foundational study is, therefore, very original and a most valuable guide to commercial insurance companies which want to venture into this huge untapped opportunity in the Ghanaian informal sector.