Corporate social responsibility in global health: an exploratory study of multinational pharmaceutical firms.

Science.gov (United States)

Droppert, Hayley; Bennett, Sara

2015-04-09

As pharmaceutical firms experience increasing civil society pressure to act responsibly in a changing globalized world, many are expanding and/or reforming their corporate social responsibility (CSR) strategies. We sought to understand how multinational pharmaceutical companies currently engage in CSR activities in the developing world aimed at global health impact, their motivations for doing so and how their CSR strategies are evolving. We conducted a small-scale, exploratory study combining (i) an in-depth review of publicly available data on pharmaceutical firms' CSR with (ii) interviews of representatives from 6 firms, purposively selected, from the highest earning pharmaceutical firms worldwide. Corporate social responsibility differed for each firm particularly with respect to how CSR is defined, organizational structures for managing CSR, current CSR activities, and motivations for CSR. Across the firms studied, the common CSR activities were: differential pharmaceutical pricing, strengthening developing country drug distribution infrastructure, mHealth initiatives, and targeted research and development. Primary factors that motivated CSR engagement were: reputational benefits, recruitment and employee satisfaction, better rankings in sustainability indices, entrance into new markets, long-term economic returns, and improved population health. In terms of CSR strategy, firms were at different points on a spectrum ranging from philanthropic donations to integrated systemic shared value business models. CSR is of increasing importance for multinational pharmaceutical firms yet understanding of the array of CSR strategies employed and their effects is nascent. Our study points to the need to (i) develop clearer and more standardized definitions of CSR in global health (2) strengthen indices to track CSR strategies and their public health effects in developing countries and (iii) undertake more country level studies that investigate how CSR engages with

Multinationality and Opaqueness

DEFF Research Database (Denmark)

Aabo, Tom; Pantzalis, Christos; Park, Jung Chul

2015-01-01

We investigate whether and how multinationality affects the opaqueness of the firm. We use multiple alternative measurements of multinationality and opaqueness. Spanning nearly three decades for a large sample of US non-financial firms, we find a statistically and economically significant, positi...

Does the meta-environment determine firm performance? Theory and evidence from European multinational enterprises

NARCIS (Netherlands)

de Jong, Gjalt; Phan, T. Binh; van Ees, Hans; Phan, T.T.

We study an underrepresented area in the international business literature: the effect of the meta-environment on multinational enterprise (MNE) performance. A meta-environment is a symbiosis of all country environments where an MNE operates. This conceptualization of a firm's external context is

International Competition for Foreign Multinational Investment,

OpenAIRE

Jan I. Haaland; Ian Wooton

1998-01-01

We examine the economic justification for providing investment subsidies to foreign-owned multinationals. These provide employment opportunities and generate demand for domestic intermediate inputs, produced by domestic workers with increasing returns to scale. Offering subsidies to multinationals may be in the national interest if the investment raises the net value of domestic production. When agglomerative forces are sufficiently strong, a subsidy that attracts the first foreign firm may i...

Impact of Domestic, Foreign, and Global Environments on International Business Decisions of Multinational Firms: A Systematic Study

OpenAIRE

Sreeramana Aithal

2017-01-01

International business decisions to be taken by executive managers of multinational firms are becoming more challenging due to uncertainties in business environment which is due to fast changing and unpredictable domestic, foreign, and global environment for long term sustainability. Even though firms are cautious and take precautions while taking decisions on international investment for production and marketing, their sustainability for a long time in a given business is shaking due to cont...

Acquisitions by Multinationals and Trade Liberalization

NARCIS (Netherlands)

Ray Chaudhuri, A.

2014-01-01

Abstract This paper develops a theoretical framework where a multinational firm (MNE) is allowed to acquire or sell a productive asset in multiple segmented asset markets. The asset is used to produce a final good which can be sold in multiple countries, with segmented product markets, undergoing

Successes and Challenges of Emerging Economy Multinationals

DEFF Research Database (Denmark)

Successes and Challenges of Emerging Economy Multinationals investigates a broad variety of cases presenting clear evidence of fast successful internationalization of emerging economy multinationals originating not only from big economic players such as China, India and Russia but also from other...... successfully internationalizing emerging countries, namely South Africa and Poland. In terms of size, the firms vary from huge multinational firms such as Huawei, Tata and Gazprom, to really small high technology firms. The in-depth analysis conducted in this book leads to the indication of numerous novel...

Multinational Risk and Performance Outcomes

DEFF Research Database (Denmark)

Andersen, Torben Juul

2012-01-01

A multinational presence can diversify corporate business activities and provide access to diverse overseas resources. This can enhance operational flexibility and create new business propositions that increase responsiveness to global market changes. Establishing an international corporate...... cross-sectional dataset, we find that flexibility and responsiveness thrives on a multinational presence among firms operating in information-driven knowledge businesses. In contrast, internationalizing firms in capital-based network services display adverse risk effects........ Consistent with the rationales of the OLI paradigm, we argue that multinational reach particularly in knowledge-based industries can reduce downside risk and enhance upside potential. These results introduce more nuances to the ongoing debate about multinational risk and performance effects. Based on a large...

Multinational Corporations and Stock Price Crash Risk

Directory of Open Access Journals (Sweden)

Anthony May

2016-10-01

Full Text Available A nascent literature in finance and accounting on tail risk in individual stock returns concludes that bad news hoarding by corporate managers engenders sudden, extreme crashes in a firm’s stock price when the bad news is eventually made public. This literature finds that firm-specific crash risk is higher among firms with more severe asymmetric information and agency problems. A hitherto disjointed literature spanning the fields of international business, finance, and accounting suggests that geographic dispersion in a firm’s operations, and especially dispersion across different countries, gives rise to organizational complexities and greater costs of monitoring that can exacerbate asymmetric information and agency problems. Motivated by the confluence of arguments and findings from these two strands of literature, this paper examines whether stock price crash risk is higher among multinational firms than domestic firms. Using a large sample of U.S. headquartered firms during 1987-2011, we find robust evidence that multinational firms are significantly more likely to crash than domestic firms. Moreover, we show that the difference in crash risk between multinational and domestic firms is most acute among firms with weaker corporate governance mechanisms, including weaker shareholder rights, less independent boards, and less stable institutional ownership. Our analysis indicates that stronger monitoring from each of these three governance mechanisms significantly attenuates the positive relation between crash risk and multinationality. Our findings are robust to the use of alternative measures of crash risk and to controlling for known determinants of crash risk identified in prior studies. Our study offers new insights that should hold value for scholars and market participants interested in understanding the implications of heighted agency problems that multinational firms are likely to encounter and scholars and market participants

Profit shifting and 'aggressive' tax planning by multinational firms: Issues and options for reform

OpenAIRE

Fuest, Clemens; Spengel, Christoph; Finke, Katharina; Heckemeyer, Jost; Nusser, Hannah

2013-01-01

This paper discusses the issue of profit shifting and ‘aggressive’ tax planning by multinational firms. The paper makes two contributions. Firstly, we provide some background information to the debate by giving a brief overview over existing empirical studies on profit shifting and by describing arrangements for IP-based profit shifting which are used by the companies currently accused of avoiding taxes. We then show that preventing this type of tax avoidance is, in principle, straightforward...

The Performance and Risk Management Implications of Multinationality

DEFF Research Database (Denmark)

Juul Andersen, Torben

Multinational enterprise in control of dispersed overseas resources and capabilities has been linked to strategic flexibility that allows the firm to take advantage of opportunities and manage exposures imposed by changing environmental conditions. This paper analyzes the implied performance...... and risk management effects in a comprehensive sample of public firms and finds supportive evidence for the proposition that multinationality can enhance performance across industries. However, the ability to exploit upside potential and avoid downside risk is industry specific. The positive effects...... of multinationality are found particularly pronounced among firms operating in knowledge intensive service industries while firms in capital-intensive primary industries display the inverse relationships. Keywords: Strategic flexibility, Real options, Risk management...

Vertically Integrated Multinationals and Productivity Spillovers

DEFF Research Database (Denmark)

Clementi, Federico; Bergmann, Friedrich

are not automatic. In this paper, we study how these externalities are affected by the strategy of vertical integration of foreign multinationals. Our analysis, based on firm-level data of European manufacturing companies, shows that local firms perceive weaker backward spillovers if client foreign affiliates...... are vertically integrated in their industry. The spillovers that arise from the activity of companies that do not invest in the domestic firms’ industry are 2.6 to 5 times stronger than the ones than come from affiliates of multinationals that invest in the industry of local firms....

The Foreign Exchange Exposure of Japanese Multinational ...

African Journals Online (AJOL)

The Foreign Exchange Exposure of Japanese Multinational Corporations. ... African Journal of Finance and Management ... We also find that keiretsu multinationals are more exposed to exchange rate risk that non-keiretsu firms.

Emerging Multinational Companies and Strategic Fit

DEFF Research Database (Denmark)

Gammeltoft, Peter; Filatotchev, Igor; Hobdari, Bersant

2012-01-01

There is an increasing awareness in international business that institutional factors need to be better incorporated into the understanding of international investments decisions of multinational companies. This applies equally to outward foreign direct investment by emerging economy firms...... has been suggested in terms of integrating various theoretical frameworks however and developing a more holistic understanding of these new investment flows. In this Editorial we propose that outward FDI from emerging economies can be better understood by analyzing them within a broad institutional...... which considers flows of outward investment from emerging economies as framed by institutional pressures at the firm level towards achieving fit between the environment, strategies, structures, resources and practices of the firm. For the multinational firm this fit must be attained along multiple...

THE EXPANSION OF MULTINATIONAL COMPANIES GLOBALLY

Directory of Open Access Journals (Sweden)

DUDUIALĂ POPESCU LORENA

2017-12-01

Full Text Available The multinational firms now have a very important role to play in all countries' economies and international economic relations, turning into an increasingly important issue for governments. Through foreign direct investment, these firms can bring substantial gains to both home and host states by contributing to the efficient use of capital, technology and human resources across countries, and thus can play an important role in the development of economic prosperity and social issues. So the common goal of all countries is to stimulate positive contributions by which multinational firms can make economic and social progress and reduce or solve the difficulties that may arise from their operations.

Foreign acquisitions, domestic multinationals, and R&D

DEFF Research Database (Denmark)

Bandick, Roger; Görg, Holger; Karpaty, Patrik

2014-01-01

The aim of this paper is to evaluate the causal effect of foreign acquisition on R&D intensity in targeted domestic firms. We are able to distinguish domestic multinationals and non-multinationals, which allows us to investigate the fear that the change in ownership of domestic to foreign...... multinationals leads to a reduction in R&D activity in the country. We use unique and rich firm level data for the Swedish manufacturing sector and micro-econometric estimation strategies in order to control for the potential endogeneity of the acquisition decision. Overall, our results give no support...... to the fears that foreign acquisition of domestic firms lead to a relocation of R&D activity in Swedish MNEs. Rather, this paper finds robust evidence that foreign acquisitions lead to increasing R&D intensity in acquired domestic MNEs and non-MNEs....

Multinationals' Political Activities on Climate Change

International Nuclear Information System (INIS)

Kolk, A.; Pinkse, J.

2007-01-01

This article explores the international dimensions of multinationals' corporate political activities, focusing on an international issue - climate change - being implemented differently in a range of countries. Analyzing data from Financial Times Global 500 firms, it examines the influence on types and process of multinationals' political strategies, reckoning with institutional contexts and issue saliency. Findings show that the type of political activities can be characterized as an information strategy to influence policy makers toward market-based solutions, not so much withholding action on emission reduction. Moreover, multinationals pursue self-regulation, targeting a broad range of political actors. The process of political strategy is mostly one of collective action. International differences particularly surface in the type of political actors aimed at, with U.S. and Australian firms focusing more on non-government actors (voluntary programs) than European and Japanese firms. Influencing home-country (not host-country) governments is the main component of international political strategy on climate change

Cultural Specifics of Management in Multinational Companies

OpenAIRE

Křečková Kroupová, Zuzana

2002-01-01

Nowadays the world is becoming increasingly economically connected, and cultural diversity of employees is gaining importance as a crucial competitive advantage. Cross-cultural communication ability is becoming a key management skill in multinational firms and is equally important for other employees who are exposed to other cultures in the workplace. This work mainly focuses on cultural specifics of management in multinational firms. The goal of this thesis is to discover how different natio...

Tax-Response Heterogeneity and the Effects of Double Taxation Treaties on the Location Choices of Multinational Firms

OpenAIRE

Behrendt, Simon; Wamser, Georg

2018-01-01

This paper examines location choices of multinational enterprises (MNEs). We particularly focus on the consequences of double taxation treaties (DTTs) and corporate profit taxes on the probability to choose a location. DTTs have become a key policy instrument used by countries to regulate international tax issues related to the cross-border activities of MNEs. Based on three alternative location choice models, which all allow parameter estimates to vary randomly across firms, we show that fir...

Ownership Concentration and CSR Policy of European Multinational Enterprises

NARCIS (Netherlands)

Dam, Lammertjan; Scholtens, Bert

2013-01-01

This study investigates how ownership concentration in European multinational firms is associated with these firms' corporate social responsibility (CSR). We employ factor analysis on responsibility data from EIRiS and use a regression analysis. Using firm-level data for almost 700 European firms,

Connected Firms and Investor Myopia

NARCIS (Netherlands)

Ginglinger, Edith; Hébert, Camille; Renneboog, Luc

2017-01-01

Conglomerates, multinational corporations and business groups are non-exclusive forms of complex firms. Often organized as corporate networks, complex firms control a myriad of firms connected through ownership links. We investigate whether parent-subsidiary links within corporate networks enhance

Multinational Corporations, FDI and the East Asian Economic Integration

OpenAIRE

Tzu-Han YANG; Deng-Shing HUANG

2011-01-01

The phenomenon of fast-growing business activities of multinational corporations around the world has generated much interest in understanding its implications for the development of the world economy as well as the relationships among national economies. By analyzing the world's top 2000 firms published by Forbes Magazine (the Forbes Global 2000), this article first investigates the contents and structural evolution of these giant multinational firms and their relationship with national fore...

Knowledge Flows, Governance and the Multinational Enterprise

DEFF Research Database (Denmark)

Mahnke, Volker; Pedersen, Torben

This work contributes to the understanding of knowledge governance in the multinational corporation. Intra-firm and inter-firm processes of knowledge creation, sharing and exploitation have attracted increasingly managerial and scholarly interest. However the relation between particular knowledge...

Multinational Taxation and R&D Investments

NARCIS (Netherlands)

de Waegenaere, A.; Sansing, R.C.; Wielhouwer, J.L.

2012-01-01

This study examines the effects of taxation on the incentives of multinational firms to develop and use intellectual property. We model optimal investment and production decisions by firms that engage in a patent race by making R&D investments. We investigate how taxes affect the level and

Multinational taxation and R&D investments

NARCIS (Netherlands)

De Waegenaere, A.M.B.; Sansing, R.; Wielhouwer, J.L.

2012-01-01

This study examines the effects of taxation on the incentives of multinational firms to develop and use intellectual property. We model optimal investment and production decisions by firms that engage in a patent race by making R&D investments. We investigate how taxes affect the level and

Corporate Taxation and Multinational Activity

OpenAIRE

Peter Egger; Simon Loretz; Michael Pfaffermayr; Hannes Winner

2009-01-01

This paper assesses the impact of corporate taxation on multinational activity. A numerically solvable general equilibrium model of trade and multinational firms is used to incorporate the following components of corporate taxation: parent and host country statutory corporate tax rates, withholding tax rates, and parent and host country depreciation allowances. We account for their differential impact under alternative methods of double taxation relief (i.e., credit, exemption, and deduction)...

Foreign acquisitions, domestic multinationals, and R&D

DEFF Research Database (Denmark)

Bandick, Roger; Görg, Holger; Karpaty, Patrik

endogeneity of the acquisition dummy.  Overall, our results give no support to the fears that foreign acquisition of domestic firms lead to a brain drain of R&D activity in Swedish MNEs. Rather, this paper finds robust evidence that foreign acquisitions lead to increasing R&D intensity in acquired domestic......The aim of this paper is to evaluate the causal effect of foreign acquisition on R&D intensity in targeted domestic firms. We are able to distinguish domestic multinationals and non-multinationals, which allows us to investigate the fear that the change in ownership of domestic to foreign...

The Tax Sensitivity of Debt in Multinationals: A Review

OpenAIRE

Schjelderup, Guttorm

2015-01-01

The OECD in its BEPS action plan 4 addresses tax base erosion by profit shifting through the use of tax deductible interest payments. Their main concern is interest deductions between outbound and inbound investment by groups. Studies of multinational firms show that the tax sensitivity of debt is more modest than what one would expect given the incentives for profit shifting. The purpose of this paper is to review existing literature and to add new knowledge on multinational firm behavior th...

A theoretical assessment of the empirical literature on the impact of multinationality on performance

NARCIS (Netherlands)

Hennart, J.M.A.

2011-01-01

I assess the theoretical basis for the existence of a relationship between the size of a firm's foreign footprint (its multinationality) and its performance. I argue that multinationality results from a firm's choice between coordinating internally the stages of its value chain and letting them be

The Role of Multinational Companies in the Deployment of Foreign Direct Investments

Directory of Open Access Journals (Sweden)

Ion Botescu

2006-10-01

Full Text Available In the last decades multinational firms have become the leading actors of the international markets, including markets in developing countries. A multinational firm’s decision to open a branch or a subsidiary in another country, thus to invest abroad, is based on efficiency criteria, the obtained profit having a primordial aspect. We mustn’t forget the various advantages the host country befits of, here mentioning the transfer of technology. The unprecedented foreign amalgamation of multinational firms was brought on by the continuous liberalization of international commerce and investment fluxes.

Orchestration of Globally Distributed Knowledge for Innovation in Multinational Companies

DEFF Research Database (Denmark)

Sajadirad, Solmaz; Lassen, Astrid Heidemann

Conducting a multiple-case study in five companies from Danish industry, this paper explores how multinational companies orchestrate knowledge from their globally distributed subsidiaries for innovation. Comparisons of knowledge orchestration within headquarter and subsidiaries for improvement...... and innovation show that a combination of the dynamic use of inter-firm objects and a well-established knowledge orchestration process underlies knowledge orchestration for innovation in multinational companies, as it advances headquarters’ abilities to effectively acquire, evaluate, disseminate, and utilize...... globally distributed knowledge. This study contributes to the understanding of knowledge orchestration between headquarter and distributed subsidiaries in multinational companies and how it is related to innovation. Specifically, this paper has important implications regarding the use of inter-firm objects...

A Cost-based Explanation of Gradual, Regional Internationalization of Multinationals on Social Networking Sites

DEFF Research Database (Denmark)

Pogrebnyakov, Nicolai

2017-01-01

This paper examines firm internationalization on social networking sites (SNS). It systematically examines costs faced by an internationalizing firm and how firms react to these costs according to “distance-dependent” (gradual and regional) and “distance-invariant” (born-global) explanations...... of internationalization. Data on 5827 country pages of 240 multinational firms on Facebook, the most popular SNS today, is used. Creating a foreign country-specific Facebook page is considered the SNS equivalent of opening a physical subsidiary in that country. The data show that multinationals exhibit...

DIMENSIONS OF MULTINATIONAL ENTERPRISES

Directory of Open Access Journals (Sweden)

Maria - Ramona SARBU

2015-11-01

Full Text Available Capital, creating new jobs, innovation, advanced technologies and the know-how transfer to local firms, human resources with a high level of training, effective management capacity, providing the necessary inputs for the evolution of the activity under the best conditions of efficiency, the access of local consumers to a variety of products and services are the main advantages that multinational enterprises (MNEs bring in the countries where they expand their activities, with a significant impact on economic activities, between national economies. The purpose of this study is the analysis of the main non-financial multinationals in the world, based on the assets held abroad and depending on the transnationality index (TNI in 2013. In order to achieve the purpose of the current paper we employed data from UNCTAD database and the World Investment Report (WIR from 2015. Information on multinationals ranked by foreign assets according to the World Investment Report in 2015 show that, based on the TNI, European multinationals, such as the ones in France, Italy, Germany and Norway, have a higher transnationality index compared to multinationals from larger countries, such as the US and China. Among the top 10 European multinationals, the transnationality index reached an average of 55 % in 2013.

Corporate governance and international location decisions of multinational enterprises

NARCIS (Netherlands)

Dam, L.; Scholtens, B.; Sterken, E.

2007-01-01

This paper analyses international location decisions of corporations based on corporate governance considerations. Using firm level data on 540 Multinational Enterprises (MNEs) with 44,149 subsidiaries in 188 countries, we test whether firms with relatively good governance standards are more often

Multinational Firms and Business Cycle Transmission

DEFF Research Database (Denmark)

Menno, Dominik Francesco

This paper studies the effect of foreign direct investment (FDI) on the transmission of international business cycles. I document for the G7 countries between 1991 and 2006 that increases in bilateral FDI linkages are associated with more synchronized investment cycles. I also find...... that the relation between FDI integration and synchronization of gross domestic product (GDP) is - yet positive - statistically insignificant after controlling for time fixed effects. I then study a model of international business cycles with an essential role for FDI and shocks to multinational activity...

Unravelling learning within multinational corporations

NARCIS (Netherlands)

Saka-Helmhout, Ayse

This article explores the impact of institutional variation on the extent to which subsidiary firms learn from multinational corporations. Learning is conceptualized here as consisting of two aspects: knowledge flow and reinforcement of or change in routines to incorporate the behaviourist

Thin Capitalization Rules and Multinational Firm Capital Structure

NARCIS (Netherlands)

Blouin, J.; Huizinga, H.P.; Laeven, L.; Nicodeme, G.

2014-01-01

Abstract: This paper examines the impact of thin capitalization rules that limit the tax deductibility of interest on the capital structure of the foreign affiliates of US multinationals. We construct a new data set on thin capitalization rules in 54 countries for the period 1982-2004. Using

Multinationality as real option facilitator – Illusion or reality?

DEFF Research Database (Denmark)

Aabo, Tom; Pantzalis, Christos; Park, Jung Chul

2016-01-01

Previous literature provides multiple conflicting arguments on why and when multinationality should enhance or impede the value-relevance of firms’ real options. We address this issue by examining whether the relationship between stock returns and changes in return volatility varies with multinat......Previous literature provides multiple conflicting arguments on why and when multinationality should enhance or impede the value-relevance of firms’ real options. We address this issue by examining whether the relationship between stock returns and changes in return volatility varies...... with multinationality. Our results indicate that multinationality does indeed act as a real option facilitator. Furthermore, we show that, consistent with the notion that there are limits to the operating flexibility associated with multinationality this benefit only accrues fully if the firm is not financially...

Employee benefits in multinational firms: Empirical evidence for Romania and Serbia

Directory of Open Access Journals (Sweden)

Caran Margareta

2015-01-01

Full Text Available The paper aims to analyze post-employment benefits provided by multinational firms, focusing on retirement advantages and pension systems in Romania and Serbia from a comparative empirical perspective. Economic literature highlights the essential role played by pension schemes in assuring a proper level of income after retirement, thus reducing poverty and increasing productivity, with significant positive implications upon overall economic activity. our research is based on developing several double-log fixed and random effects models, as well as a dynamic and distributed lags model, using a panel structure over the 2005- 2013 period and a complex set of indicators (national accounts - GDP total and per capita; labor market - employment, unemployment, productivity, earnings; secondary and tertiary education; pension specific data - general beneficiaries, old age and survivor pensioners, total and by gender, and pension expenses as percentage of GDP. The results show that pensions represent an incentive for employees leading to an increase in resource productivity. At the same time, old age pensions are positively shaping economic growth and employment for the two countries considered, significantly reducing the poverty rate for pensioners. Nevertheless, the two pensions systems are modelled by the economic activity, educational background of employees, as well as by the level of net earnings.

Does internationalisation of technology determine technological diversification in large firms?

OpenAIRE

Christian Le Bas; Pari Patel

2005-01-01

The purpose of the paper is to examine the relationship between technological diversification and internationalisation of technology for large multinational firms, operating at the world technological frontier. More precisely we address the question as to whether internationalisation determines diversification. The analysis is based on a rich database of the European patenting activity of 345 large multinational firms with the highest levels of patenting over two periods of time (1988-1990 an...

Acquired versus Non-Acquired Subsidiaries - Which Entry Mode do Parent Firms Prefer

OpenAIRE

Esther Kalkbrenner

2010-01-01

Despite the economic importance of international foreign direct investment (FDI) flows, investment decisions of multinational firms are not well understood. A multinational firm can establish a subsidiary in a foreign country through greenfield investment or through acquiring an existing firm in the target country. The goal of this paper is to shed some light on the determinants of foreign market entry modes. In particular to analyze the systematic variation in the mode choice of FDI, namely ...

Entry Mode and Performance of Nordic Firms

DEFF Research Database (Denmark)

Wulff, Jesper

2015-01-01

including the proposed moderating effect, on average, yield higher post-entry performance. This study sheds light on inconsistent results found in previous research investigating the impact of international experience and has practical implications for managerial decision-making.......This study investigates whether the relationship between mode of international market entry and non-location bound international experience is weaker for firms that are large or have a high foreign to total sales ratio, labeled multinational experience. Empirical evidence based on 250 foreign...... market entries made by Norwegian, Danish and Swedish firms suggests that the association between equity mode choice and non-location bound international experience diminishes in the presence of higher levels of multinational experience. Furthermore, firms whose entry mode choice is predicted by the model...

Determining The Optimal Mix of Institutional Geopolitical Power And ASEAN Corporate Governance on the Firm Value of Malaysia’s Multinational Corporations (MNCs

Directory of Open Access Journals (Sweden)

Wan Sallha Yusoff

2018-01-01

Full Text Available The purpose of this paper is to examine the relationship between institutional geopolitics, ASEAN corporate governance quality and the firm value of Malaysia’s multinational corporation (MNC. We used the data of MNCs in Malaysia that were active from 2009 to 2013 as an evidence of MNCs from emerging market economies. Descriptive analysis, factor analysis and panel data analysis have been utilized to test the equation model. We also propose optimization analysis by using differential evolution method to capture the optimal mix of institutional geopolitics and ASEAN_CG on the firm value of MNC. Results reveal that the geopolitics of G7(Canada, France, German, Italy, Japan, Europe, and the United States, BRICS (Brazil, Russia, India, China, and South Africa, and ASEAN (Brunei Darussalam, Cambodia, Indonesia, Lao PDR, Myanmar, Philippines, Singapore, Thailand, Vietnam, and Malaysia are highly correlated with the firm value of Malaysia’s MNC. The power of institutional geopolitics, namely, military, material, and social power, influences firm value negatively and ASEAN_CG moderate the negative influence of institutional geopolitics on the firm value of MNC. Thus, it is importance for corporate management to understand the geopolitical changes of host countries’ and increase the compliance of ASEAN_CG in formulating their market value and segmentation strategies.

Experiences of Emerging Economy Firms

DEFF Research Database (Denmark)

Experiences of Emerging Economy Firms investigates the different elements of the experiences of emerging economy firms and sheds essential light on a large variety of aspects associated with their functioning in both home and host contexts. For example, firms must be able to overcome the liability...... of foreign and emerging issues when they expand their activities in various contexts, enter, exit, and re-enter overseas markets; they have to overcome institutional barriers, adapt the cultural challenges in foreign markets, undergo the impact of large multinational firms from developed economies...

Investigating the Process of Valuing Investments in Intangibles: A Case Study in Safety and Security in the Multinational Hotel Industry

OpenAIRE

Punpugdee, Nuttapon

2005-01-01

Safety and security have emerged as a major force driving change in the multinational hotel industry. As a problem area not well-developed in the literature but considered a crucial force influencing hotel firms' value by the multinational hotel community, safety and security provide an excellent opportunity for industry professionals and academic researchers to improve the value creation of multinational hotel firms. A research need is more urgent in the upscale sector of the industry, and t...

Impact on Employee Productivity From Presenteeism and Absenteeism: Evidence From a Multinational Firm in Sri Lanka.

Science.gov (United States)

Fernando, Mario; Caputi, Peter; Ashbury, Fred

2017-07-01

This study examines the effects of 13 psychological and physical health conditions on work productivity. One hundred fifty-two staff at the headquarters of a Sri Lankan multinational firm completed a questionnaire asking whether they experienced 13 health conditions common in workplaces, and about their related absenteeism and presenteeism. Most respondents (85.5%) reported absenteeism, presenteeism, or both. Among those reporting a health condition, 57.6% reported losing days due to absenteeism, and 69.5% reported losing additional days to presenteeism. Among those caring for a sick adult or child, 57.3% reported losing days due to absenteeism, and 36.5% reported losing additional days due to presenteeism. Overall productivity loss was 10.43 days each year, 3.95% of employee capacity, equating to about Sri Lanka Rupees 8 million (US$54,421) for all headquarters employees. The health conditions' effects on productivity significantly increased employee costs.

Business Communication Consulting and Research in Multinational Companies.

Science.gov (United States)

Hildebrandt, Herbert W.

1978-01-01

Describes three issues involved in communication research and consulting for multinational companies, particularly those in Germany: qualifications for doing international consulting and research, problems of American scholar-researchers in those firms, and suggestions for dealing with those issues. (JMF)

Firm Based Trade Models and Turkish Economy

Directory of Open Access Journals (Sweden)

Nilüfer ARGIN

2015-12-01

Full Text Available Among all international trade models, only The Firm Based Trade Models explains firm’s action and behavior in the world trade. The Firm Based Trade Models focuses on the trade behavior of individual firms that actually make intra industry trade. Firm Based Trade Models can explain globalization process truly. These approaches include multinational cooperation, supply chain and outsourcing also. Our paper aims to explain and analyze Turkish export with Firm Based Trade Models’ context. We use UNCTAD data on exports by SITC Rev 3 categorization to explain total export and 255 products and calculate intensive-extensive margins of Turkish firms.

Multinational firms and the internationalization of green R&D: A review of the evidence and policy implications

International Nuclear Information System (INIS)

Noailly, Joëlle; Ryfisch, David

2015-01-01

This paper presents novel empirical evidence on the internationalization of green R&D by multinational firms (MNCs), as measured by patents data. Using data on inventors’ addresses for the set of 1200 MNCs firms patenting in green technologies over the 2004–2009 period, we find that about 17% of green patents result from MNCs R&D investments conducted outside their home countries. MNCs tend to locate their foreign green R&D activities in other OECD markets and in China, in particular in lightings and solar technologies. The empirical analysis reveals that the probability of conducting green R&D abroad increases with the host country’s stringency of environmental regulation, market size and (green) R&D intensity. Also, relatively lower wages for scientists and engineers, and stronger protection for intellectual property rights in the host country increase the likelihood for MNCs to offshore green R&D. The paper concludes by discussing the policy implications of this changing global innovation landscape. -- Highlights: •Green R&D is becoming increasingly globalized. •17% of the green patents of our sample of 1200 MNCs have been invented abroad. •Most green R&D offshoring takes place among OECD countries, and towards China. •Environmental policy is key to attracting multinationals’ green offshoring activities

A Cost-based Explanation of Gradual, Regional Internationalization of Multinationals on Social Networking Sites

DEFF Research Database (Denmark)

Pogrebnyakov, Nicolai

2017-01-01

of internationalization. Data on 5827 country pages of 240 multinational firms on Facebook, the most popular SNS today, is used. Creating a foreign country-specific Facebook page is considered the SNS equivalent of opening a physical subsidiary in that country. The data show that multinationals exhibit...

Knowledge protection strategies of multinational firms-A cross-country comparison

NARCIS (Netherlands)

de Faria, Pedro; Sofka, Wolfgang

International knowledge spillovers, especially through multinational companies (MNCs), have recently been a major topic of discussion among academics and practitioners. Most research in this field focuses on knowledge sharing activities of MNC subsidiaries. Relatively little is known about their

Do multinational retailers affect the export competitiveness of host countries?

OpenAIRE

Cheptea, Angela

2014-01-01

The paper investigates how the overseas activity of multinational retailers (MRs) affects the global export patters of host country firms. Recent empirical work testifies that the entry of foreign retailers leads to a productivity upgrade in the domestic upstream sectors. Combined with the main result of the new new international trade theory on firm heterogeneity, an increase in the export capacity of local firms should also follow. The current paper establishes a connection between these em...

CULTURAL DIVERSITY AND HUMAN RESOURCE MANAGEMENT IN MULTINATIONAL COMPANIES

OpenAIRE

Flavian Clipa; Raluca Irina Clipa

2009-01-01

When the multinational firms employ human resources from different countries they have to submit to the restrictions concerning cultural differences. The paper is an attempt to show how the human resource management administrates these cultural differences.

CULTURAL DIVERSITY AND HUMAN RESOURCE MANAGEMENT IN MULTINATIONAL COMPANIES

Directory of Open Access Journals (Sweden)

Flavian Clipa

2009-09-01

Full Text Available When the multinational firms employ human resources from different countries they have to submit to the restrictions concerning cultural differences. The paper is an attempt to show how the human resource management administrates these cultural differences.

Multinational banks and credit growth in transition economics

NARCIS (Netherlands)

Haas, Ralph Theodoor Anna de

2006-01-01

This thesis examines the impact of multinational banks (MNBs) on the financial development of European transition countries. On the basis of our results, we conclude that the gradual deepening of the banking systems in Central and Eastern Europe and the Baltic countries (CEB) has enabled firms to

Global Cities and Multinational Enterprise Location Strategy

DEFF Research Database (Denmark)

Goerzen, Anthony; Geisler Asmussen, Christian; Nielsen, Bo Bernhard

2013-01-01

We combine the concept of location derived by economic geographers with theories of the multinational enterprise (MNE) and the liability of foreignness developed by international business scholars, to examine the factors that propel MNEs toward, or away from, “global cities”. We argue that three...... distinctive characteristics of global cities – global interconnectedness, cosmopolitanism, and abundance of advanced producer services – help MNEs overcome the costs of doing business abroad, and we identify the contingencies under which these characteristics combine with firm attributes to exert......- and subsidiary-level factors, including investment motives, proprietary capabilities, and business strategy. Our study provides important insights for international business scholars by shedding new light on MNE location choices and also contributes to our understanding of economic geography by examining...

Comportements des firmes et commerce international

OpenAIRE

Joël Thomas Ravix; Olivier Sautel

2007-01-01

Growth of international outsourcing, has been a dominant feature of the international economy. Recent theoretical developments have focused on firm behaviour and its consequences on trade structure, through the introduction of the modern theory of the firm. In a first section, we link this new approach with previous explanations of vertical specialization (intra-industry trade and Multinational Corporation). In a second section, we present methodology and results of these new developments, wh...

Sequential Foreign Investments, Regional Technology Platforms and the Evolution of Japanese Multinationals in East Asia

OpenAIRE

Song, Jaeyong

2001-01-01

IVABSTRACTIn this paper, we investigate the firm-level mechanisms that underlie the sequential foreign direct investment (FDI) decisions of multinational corporations (MNCs). To understand inter-firm heterogeneity in the sequential FDI behaviors of MNCs, we develop a firm capability-based model of sequential FDI decisions. In the setting of Japanese electronics MNCs in East Asia, we empirically examine how prior investments in firm capabilities affect sequential investments into existingprodu...

Are less developed countries more exposed to multinational tax avoidance?

DEFF Research Database (Denmark)

Johannesen, Niels; Tørsløv, Thomas Rasmusen; Wier, Ludvig

We use a global dataset with information on 210,000 corporations in 102 countries to investigate whether cross-border profit shifting by multinational firms is more prevalent in less developed countries. We propose a novel technique to study aggressive profit shifting and improve the credibility ...

Monitoring Costs and Multinational-Bank Lending

OpenAIRE

Ralph de Haas

2006-01-01

We use a two-country model to examine how endogenous changes in monitoring intensity and exogenous changes in monitoring efficiency affect multinational-bank lending. First, an endogenous decline in monitoring intensity limits the amount of deposits that banks can attract. This lowers bank lending. Shocks that reduce bank capital relative to firm capital therefore have a stronger negative effect on bank lending compared to a model with exogenous monitoring intensity. Second, international dif...

Why and how multinational enterprises can be value-creating organizations

NARCIS (Netherlands)

Hennart, J.M.A.

2015-01-01

Rugman made the valid point that Multinational Enterprises are value-creating organizations but in this piece I question his explanation of why this is the case. I argue that it is not, as Rugman proposed, because MNEs are better at safeguarding their firm-specific advantages (FSAs) but because

Multinational Firms and the Management of Global Networks

DEFF Research Database (Denmark)

De Marchi, Valentina; Maria, Eleonora Di; Ponte, Stefano

2014-01-01

This paper aims at enriching the literature on international business (IB) studies to include insights from Global Value Chain (GVC) analysis to better explain how MNCs can orchestrate a global network organization. A first important contribution of the GVC literature is that it shifts the focus...... from single firms to their value chains, providing instruments to study how activities are split and organized among different firms at the industry level, and how MNCs can implement different governing mechanisms within a network-based setting. The GVC literature also highlights that retailers (as...... can manage their network relationships in a global scenario. Finally, through their focus on upgrading, GVC studies suggest that knowledge flows and innovation dynamics taking place within value chains are as important as those taking place within the MNC’s organizational border. We conclude...

The Contribution of Local Environments to Competence Creation in Multinational Enterprises

DEFF Research Database (Denmark)

Andersson, Ulf; Dellestrand, Henrik; Pedersen, Torben

2014-01-01

This paper examines the competence development of subsidiaries in multinational enterprises. We analyze how local subsidiary environments affect the development of technological and business competencies among other units in the multinational enterprise. We test our predictions using data from 2......,107 foreign-owned subsidiaries located in seven European countries, by means of structural equation modeling — namely, LISREL. By bringing the local environment to the fore, we contribute to the literature on the emergence and determinants of firm-specific advantages. We link local subsidiary environments...... throughout the organization. Thus, we contribute to an enhanced understanding of location as a determinant of the creation of units of competence and centers of excellence within multinational enterprises. In other words, we demonstrate that country-specific advantages are beneficial for competence creation...

THE EXPANSION OF THE TRANSNATIONAL AND MULTINATIONAL CORPORATIONS IN THE GLOBAL ECONOMY

Directory of Open Access Journals (Sweden)

Paul-Bogdan Zamfir

2012-12-01

Full Text Available The phenomenon of transnationalisation and multinationalisation evokes just the differences between the two types of corporations. It can be said that a transnational company is above geographical boundaries, wich from the perspective of revolutionary technological communications and transport have been dimmed, but above the borders represented by language, culture, mentalities and technology. The transnational company operates spot transactions because it is listed on the various first rank Stock Exchanges and the financial, technical, image and brand results recorded by this, are public information that it is measuring the success or unsucces of the transnationalisations phenomenon. By comparison, the multinational company is listed either at stock exchanges of secondary importance, or it is a group or family bussines which has the active abroad. At the same time the multinational corporations effectively produce without to generate significant resources for the development of it's own research activities, so, having failed to impose an uniform structure and culture regardless of the assets location. Another significant difference is at the financing access. The transnational company is standing in attention of the rating firms having a low-risk investment that it allows to access the financing at low cost. In most cases, multinational society has limited financial funding in the country of origin, sometimes exclusive relying on the raised funds of the branches which it controls.

Commentary : Why and how can Multinational Enterprises be value-creating organizations?

NARCIS (Netherlands)

Hennart, Jean-Francois

2015-01-01

Rugman made the valid point that Multinational Enterprises are value-creating organizations but in this piece I question his explanation of why this is the case. I argue that it is not, as Rugman proposed, because MNEs are better at safeguarding their firm-specific advantages (FSAs) but because

Mental innovation space of Vietnamese agro-food firms

NARCIS (Netherlands)

De Koning, Jotte; Crul, Marcel; Engelen, van Johannes; Wever, Renee; Brezet, Johannes

2016-01-01

Purpose - Vietnamese agro-food firms are often small and have short value chains. They are facing increasing competition from multinationals to serve the consumers of the rising middle class. It is assumed that co-creation or open-innovation can be a competitive innovation strategy for the

International Investment Location Decisions: The Case of Korean firms into China

Directory of Open Access Journals (Sweden)

Hongshik Lee

2004-12-01

Full Text Available Recent literature maintains there are at least two explanations for the motivations of FDI, one involving trade barriers (horizontal-FDI and the other factor proportions hypothesis (vertical-FDI. The first view is that multinationals act in order to overcome trade barrier, and the second view is that multinationals arise to take advantage of international factor price differences. The purpose of this paper is to study the motivations of Korean foreign direct investment in China. Using the panel data on Korean FDI in China for the years 1988~2002, we examined the geographic determinants of direct investment in China from Korean firms. In doing so, we investigated, on the one hand, to what extent multinational activity is consistent with the factor proportions theory, i.e., to what extent multinational activity is related to cheap factor supplies. On the other hand, we study the market access motivation for multinational activity. Our econometric results suggest that factor proportions hypothesis is indeed the dominant influence on investor calculations for the early period of Korean FDI in China. Since end of 1990s, however, market-seeking FDI pattern is more common than FDI motivated by factor price differentials. We also find that the hypothesis that good-quality infrastructure is conducive to attracting FDI is not supported for Korean firms. Evidence supports the claim that regions with high degree of reform, which implement preferential treatments to foreign investors, still have advantage over other regions in attracting FDI. In sum, the findings in this paper indicate that Korean FDI for the early period of KorRecent literature maintains there are at least two explanations for the motivations of FDI, one involving trade barriers (horizontal-FDI and the other factor proportions hypothesis (vertical-FDI. The first view is that multinationals act in order to overcome trade barrier, and the second view is that multinationals arise to take

MultiNational Corporations work environment of brewing firms and employees productivity

Directory of Open Access Journals (Sweden)

Olugbenga Abiola OJO

2015-12-01

Full Text Available This study examined the multinational work environment and employee productivity by examining if the elements conducive work environment assists MNCs (multinational corporations employee to be motivated at work and if the provision of infrastructural facilities have a significant relationship on employee satisfaction that affect employee productivity. The data required for this study was gotten through the instrument of questionnaire. One hundred and twenty four (124 copies of questionnaire were administered out of which one hundred and thirteen (113 were retrieved for analysis. Three hypotheses were formulated from the structured research questions. Regression and correlational analysis were used to test the hypotheses through the statistical package for Social Sciences (SPSS 18.0. The result showed that conducive work environment assists MNCs employee to be motivated at work (R2 = 0.546, at P < 0.05 and that provision of infrastructural facilities have a significant relationship on employee satisfaction (0.699, at P < 0.05. The study therefore recommends among others that that organization should see conducive environment and infrastructural development as a way of helping them to continue being in businesses rather than seeing it as a means of luxury to achieve their desires because it has been proven that infrastructural facility development has assisted in enhancing employee satisfaction.

Regional Multinationals and the Korean Comestics Industry

OpenAIRE

Chang Hoon Oh; Alan M. Rugman

2007-01-01

This paper analyzes the market penetration and expansion strategy of cosmetics and toiletries multinational enterprises (MNEs) in South Korea from the perspective of regional strategy as developed recently by Rugman. We find that MNEs have different market entry and expansion strategies in the home region and in the foreign region. Home region MNEs (Japanese MNEs in this case), in general, utilize their firm-specific advantages (FSAs) better than foreign region MNEs (European and MNEs from th...

Corporate risk and external sourcing: A study of Scandinavian multinational firms

DEFF Research Database (Denmark)

Aabo, Tom; Pantzalis, Christos; Sørensen, Helle

2016-01-01

data by surveying Scandinavian non-financial firms. We find that highly international firms reduce corporate risk by externally sourcing from foreign suppliers both compared to sourcing from own production facilities abroad (due to superior flexibility) and compared to domestic sourcing (due...

R&D activities in East Asia by Japanese, European, and US Multinationals

NARCIS (Netherlands)

Belderbos, R.A.

2006-01-01

We contribute to the expanding literature on the internationalization of R&D by providing evidence on the extent and pattern of R&D activities by European, Japanese, and US multinational firms in 10 Asian countries and regions: PR China, India, the Asian NIEs (South Korea, Taiwan, Hong Kong, and

THE MULTINATIONAL COMPANIES AND THE LOW-COST MARKETS OF SOUTH-EAST ASIA

Directory of Open Access Journals (Sweden)

Diaconu Laura

2009-05-01

Full Text Available In order to be considered a low-cost market, the cost advantage of one or more factors of production offered by a state – generally, a developing one – must be exploited by the multinational firms. Therefore, we may speak about these markets only after 19

Multinationals' accountability on sustainability: the evolution of third-party assurance of sustainability reports

NARCIS (Netherlands)

Perego, P.; Kolk, A.

2012-01-01

In this article we explore how multinational corporations (MNCs) adopt assurance practices to develop and sustain organizational accountability for sustainability. Using a panel of Fortune Global 250 firms over a period of 10 years, we document the diffusion patterns of third-party assurance of

Redistributive taxation, multinational enterprises, and economic integration

OpenAIRE

Haufler, Andreas; Klemm, Alexander; Schjelderup, Guttorm

2008-01-01

Increased activity of multinational firms exposes national corporate tax bases to cross-country profit shifting, but also leads to rising profitability of the corporate sector. We incorporate these two effects of economic integration into a simple political economy model where the median voter decides on a redistributive income tax rate. In this setting economic integration may raise or lower the equilibrium tax rate, and it is more likely to raise the tax rate of a low-tax country. The impli...

How Subsidiaries Gain Power in Multinational Corporations

DEFF Research Database (Denmark)

Mudambi, Ram; Pedersen, Torben; Andersson, Ulf

2014-01-01

in multinational firms. Data collected from 2107 foreign-owned subsidiaries in seven European countries is used to test the hypotheses. The results indicate that mutual dependence and dependence imbalance provide strong explanations for subsidiary power. Furthermore, subsidiary power over strategic decisions...... in the MNC is gained through functional power, notably the possession of technological, rather than business-related, power or by the possession of both as they reinforce each other in strengthening the subsidiary's strategic power in the MNC network...

The Intangible Assets of Korean Manufacturing Firms for Foreign Direct Investment

Directory of Open Access Journals (Sweden)

Sunghoon Hong

2004-12-01

Full Text Available This paper attempts to apply the intangible assets approach to the emerging multinational enterprises of Korea. More specifically, it tries to empirically analyze whether Korean firms investing in foreign markets possess more advanced intangible assets than those investing only in the domestic market, and whether Korean firms exploit different types of tangible assets in different host regions. The following conclusions have been drawn by analyzing the data on Korea manufacturing firms listed on the Stock Exchange. First, firms investing in foreign markets possess more advanced intangible assets than domestic market-oriented ones. More specifically, firms investing in the Western developed region are shown to be superior in the economies of scale, R&D, advertising intensity, capital intensity, and interfirm linkages, whereas those investing in the Asian developing region are superior only in the economies of scale and organizational skills. This implies that Korean firms operating in developed countries seem to exploit a wider range of intangible assets to address intense competition and sophisticated demand in the host markets. And, when firms investing in the developed and developing regions are compared directly, the former group are found to exploit technological capability and interfirm linkages more intensively. Second, availability of internal funds and human capital intensity do not show statistical significances, implying that these abilities are not different between firms investing in foreign markets and the domestic market. Third, Korean multinational enterprises are more similar to Japanese than Western ones in terms that they actively exploit organizational skills and interfirm network. Nonetheless, these conclusions have been derived by analyzing the data on parent firms, based on the assumption that Korean overseas subsidiaries commonly share the intangible assets of their parents. This weakness is mainly due to the limited

Why do firms hold so much cash? A tax-based explanation

OpenAIRE

C. Fritz Foley; Jay C. Hartzell; Sheridan Titman; Garry Twite

2006-01-01

U.S. corporations hold significant amounts of cash on their balance sheets, and these cash holdings have been justified in the existing empirical literature by transaction costs and precautionary motives. An additional explanation, considered in this study, is that U.S. multinational firms hold cash in their foreign subsidiaries because of the tax costs associated with repatriating foreign income. Consistent with this hypothesis, firms that face higher repatriation tax burdens hold higher lev...

Multinational Enterprises and Social Capital as Location Factor

DEFF Research Database (Denmark)

Pedersen, Kurt; Svendsen, Gunnar L.H.; Svendsen, Gert Tinggaard

2013-01-01

across borders. We review the literature and identify a gap regarding social capital as a potential instrument for reducing the level of volatility. An existing stock of social capital may be advantageous not only to the host country but also to the MNE in the sense that optimal in-company resource......It is generally assumed that multinational enterprises (MNEs) are more volatile than local firms. From the viewpoint of host countries, the volatility of MNE subsidiaries is often seen as a problem. Therefore it becomes relevant to look for ways to reduce the volatility of multinational activity...... allocation and profits could be improved even further. Thus, the dominating theory of FDI (Foreign Direct Investment), the eclectic paradigm as developed by John Dunning, offers a relevant opportunity to fill a gap in the literature and include social capital in FDI decisions as a new location factor....

Essays on Multinational Production and International Trade

DEFF Research Database (Denmark)

Clementi, Federico

This Thesis consists of an introduction followed by three independent chapters. Each chapter is a self-contained paper that can be read independently. They cover different topics of international economics with a specific focus on multinational production and international trade. A common feature...... the intensity of spillovers to local suppliers. Domestic firms benefit only from the activity of foreign clients that are not vertically integrated in their industry. In the last chapter, I use a detailed dataset of international transactions of Danish companies to study the impact of Chinese competition...

The internationalisation of Indian multinationals: determinants of expansion through acquisitions

OpenAIRE

Rienda, Laura; Claver-Cortés, Enrique; Quer, Diego

2013-01-01

In recent years, there is an increasing number of papers focusing on the internationalisation process of Indian multinationals. However, there is still a gap in understanding the determinants of their outward foreign direct investment (FDI) decisions. Thus, this paper analyses the factors influencing the choice between FDI modes by Indian firms. Our findings show that industry technological intensity, host country risk, host market attractiveness, previous international experience and the vol...

Foreign investment, divestment and relocation by Japanese electronics firms in East Asia

NARCIS (Netherlands)

Belderbos, R.A.; Zou, J.

2006-01-01

Although foreign divestment and international relocation by multinational firms carry important economic implications for the industrialization of East Asian countries, there has been little empirical research on these issues. In this paper we analyze the magnitude and pattern of foreign divestment

Knowledge Transfer and Accommodation Effects in Multinational Corporations

DEFF Research Database (Denmark)

Geisler Asmussen, Christian; Foss, Nicolai J.; Pedersen, Torben

2013-01-01

Foreign subsidiaries in multinational corporations (MNCs) possess knowledge that has different sources (e.g., the firm itself or various sources in the environment). How such sources influence knowledge transfer is not well understood. Drawing on the "accommodation effect" from cognitive psychology...... if a certain tipping point of internally sourced knowledge has been surpassed. This suggests that subsidiary knowledge stocks that are balanced in terms of their origins tend to be more valuable, congruous, and fungible, and therefore more likely to be transferred to other MNC units...

Multinational repositories: Ethical, legal and political/public aspects

International Nuclear Information System (INIS)

Boutellier, C.; McCombie, C.; Mele, I.

2006-01-01

Concepts for shared multinational repositories face a great challenge in achieving acceptance, despite the fact that they promise advantages in safety, security, environmental protection and costs. When considering advantages of shared multinational repositories, it is instructive to examine which are the ethical, legal and political issues that mostly affect the feasibility of implementing such facilities. This paper addresses the key questions from two opposite sides. The early part takes a 'top-down' view, looking at the international debate on ethical issues, summarising a wide range of national political attitudes and identifying relevant international legislation and treaties. The latter looks 'bottom-up' at the problem, by discussing the situation of a small country, Slovenia. Slovenia has limited financial resources for implementing disposal - but it has a firm commitment to fulfilling its responsibilities for safely managing all Radioactive Wastes (RAW) arising in the country. Strategies considered to do so are laid out in this paper. (author)

How Foreignness can be an Asset and a Liability for Firms

DEFF Research Database (Denmark)

Zimmermann, Jörg; Sofka, Wolfgang

2014-01-01

Many modern firms compete globally. However, research is inconclusive on whether foreignness provides an asset or a liability in competition with domestic firms. We argue that foreign MNC subsidiaries are not per se advantaged or disadvantaged. We suggest that the distinction originates from...... the nature of the subsidiary’s activity in the host country. We focus on two activities: knowledge search and deployment. We predict theoretically that domestic firms have advantages from their embeddedness in the host country when they search for knowledge. However, foreign MNC subsidiaries have advantages...... in knowledge deployment because they draw from a richer, international knowledge pool. Still, these advantages accrue to all multinational firms, foreign and domestic. We test and support these predictions for a longitudinal dataset of 2900 firm observations in Spain. We develop recommendations for research...

THE SOCIAL RESPONSIBILITY OF THE FIRMS AND ETHICS IN BUSINESS

Directory of Open Access Journals (Sweden)

SCUTARU LILIANA

2013-04-01

Full Text Available The ample process of the sustainable development in which all the firms are involved, larger or smaller, determines them to reconsider their business politics and to turn to the demands of the environmental protection and social cohesion, concurrently with the increase of the profits that represent the main motivation of a firm existence. This paper addresses the issue of corporate social responsibility and moral behavior adoption in activities developed resulted in codes of business conduct. The concept of social responsibility has been widely debated over the years for the adoption and implementation by companies of ethical behavior in business. Ethics in business takes account of an ethical perspective on the way in which a company or an individual understands to do business, meaning a set of principles that should lead business conduct, both at individual and organization level. In Romania, the actions of social responsibility had a modest start, developing gradually through the experience brought by multinational companies. More and more firms understand what impact their activities have on their own employees, their customers, shareholders, the community and on the surrounding environment. The analysis effectuated on the companies which develop their activity in Romania show that, for the most part, only the multinational firms fulfill the demands for the realization of the concept of social responsibility and have at the same time, established conduct codes in the business they make.

Does Tax Haven FDI Influence Firm Performance?

OpenAIRE

Dewit, Gerda; Jones, Chris; Leahy, Dermot

2017-01-01

This paper provides theoretical and empirical evidence of the link between the use of tax haven subsidiaries by multinational enterprises (MNEs) and firm performance, as measured by total factor productivity. We find that the use of tax havens has no impact on economic dynamism for a sample of MNEs from across the OECD. Our results have significant policy implications in terms of the role of tax havens in the world economy.

Innovation Drivers, Value Chains and the Geography of Multinational Firms in European Regions

OpenAIRE

Riccardo Crescenzi; Carlo Pietrobelli & Roberta Rabellotti

2012-01-01

"This paper investigates the geography of multinational corporations’ investments in the EU regions. The ‘traditional’ sources of location advantages (i.e. agglomeration economies, market access and labour market conditions) are considered together with innovation and socio-institutional drivers of investments, captured by means of regional social filter conditions. The introduction of a wider set of attraction factors makes is possible to empirically assess the different role played by such ...

Innovation drivers, value chains and the geography of multinational firms in European regions

OpenAIRE

Riccardo Crescenzi; Carlo Pietrobelli; Roberta Rabellotti

2012-01-01

This paper investigates the geography of multinational corporations’ investments in the EU regions. The ‘traditional’ sources of location advantages (i.e. agglomeration economies, market access and labour market conditions) are considered together with innovation and socio-institutional drivers of investments, captured by means of regional “social filter” conditions. The introduction of a wider set of attraction factors makes is possible to empirically assess the different role played by such...

The Regional Sales of Multinationals in the World Cosmetics Industry

OpenAIRE

Chang Hoon Oh; Alan M. Rugman

2006-01-01

This paper analyzes the regional characteristics and strategies of multinational enterprises (MNEs) in the world cosmetics and toiletries industry, based on the new work by Rugman on regional strategy. We test the proposition that MNEs may asymmetrically develop their upstream and downstream firm specific advantages (FSAs). We find that the upstream activities of the MNEs in cosmetics are home region based but that downstream activities are less so. Further, the asymmetry of FSAs in the world...

Tax Haven Networks and the Role of the Big 4 Accountancy Firms

OpenAIRE

Jones, Christopher M; Temouri, Yama; Cobham, Alex

2017-01-01

This paper investigates the association between the Big 4 accountancy firms and the extent to which multinational enterprises build, manage and maintain their networks of tax haven subsidiaries. We extend internalisation theory and derive a number of hypotheses that are tested using count models on firm-level data. Our key findings demonstrate that there is a strong correlation and causal link between the size of an MNE’s tax haven network and their use of the Big 4. We therefore argue that p...

Komi oil spill - An assessment by a multinational team

Energy Technology Data Exchange (ETDEWEB)

Devenis, P.

1995-12-31

The mission objectives, findings of an on-site visit, and recommendations of a multinational United Nations team who assessed the Komi oil spill in Russia were discussed, combined with a discussion of the findings and field work of Russian investigators, whose work preceded that of the UN team. Concern was expressed over spring flooding as a unique problem that might well complicate the cleanup. Areas of serious concern were identified by the group and recommendations for remediation were made, and described in detail. It was found that the multinational team approach was a successful answer in this particular situation in that the diverse backgrounds and experiences of the team members resulted in better solutions and recommendations for remediation than would have been possible otherwise. Access to information provided by EMERCOM (the Russian Ministry for Emergency Response to Natural Disasters) and the Russian consulting firm, helped the UN team in overcoming time constraints and other obstructions affecting their work. 5 refs., 2 figs.

Key Success Factors of Innovation in Multinational Agri-food Prospector Companies

OpenAIRE

Fortuin, F.T.J.M.; Batterink, M.H.; Omta, S.W.F.

2007-01-01

The Wageningen Innovation Assessment Tool (WIAT) compares the self assessment of the drivers and barriers to innovation at the company level and the critical success and failure factors of innovation at the project level with data of agrifood prospector firms around the world. In total 46 innovation projects, 11 successfully concluded and 6 failed projects, as well as 29 running projects in 12 multinational agrifood prospector companies in the Netherlands and France, two innovation consortia ...

Multinational Enterprises and New Trade Theory: Evidence for the Convergence Hypothesis

OpenAIRE

Barrios, Salvador; Görg, Holger; Strobl, Eric

2001-01-01

According to the ‘convergence hypothesis’ multinational companies will tend to displace national firms and trade as total market size increases and as countries converge in relative size, factor endowments, and production costs. Using a recent model developed by Markusen and Venables (1998) as a theoretical framework, we explicitly develop empirical measures to proxy bilateral FDI between two countries and address their properties with regard to the convergence hypothesis. Using a panel of da...

Multinationals and plant survival

DEFF Research Database (Denmark)

Bandick, Roger

2010-01-01

The aim of this paper is twofold: first, to investigate how different ownership structures affect plant survival, and second, to analyze how the presence of foreign multinational enterprises (MNEs) affects domestic plants’ survival. Using a unique and detailed data set on the Swedish manufacturing...... sector, I am able to separate plants into those owned by foreign MNEs, domestic MNEs, exporting non-MNEs, and purely domestic firms. In line with previous findings, the result, when conditioned on other factors affecting survival, shows that foreign MNE plants have lower survival rates than non......-MNE plants. However, separating the non-MNEs into exporters and non-exporters, the result shows that foreign MNE plants have higher survival rates than non-exporting non-MNEs, while the survival rates of foreign MNE plants and exporting non-MNE plants do not seem to differ. Moreover, the simple non...

An assessment of the moderating role of employees’ cultural orientations amongst foreign manufacturing multinational companies in Kenya

Directory of Open Access Journals (Sweden)

Beatrice A. Dimba

2013-09-01

Research purpose: Specifically, this study sought to investigate the extent to which employee cultural orientations moderate the link between SHRM practices and firm performance in large foreign manufacturing multinational companies in Kenya. Motivation for the study: Large foreign multinational companies have generally applied SHRM practices without adaptation when trying to improve employee performance even though resource based perspectives argue for the consideration of employees’ cultural orientations. Research design, approach and method: SHRM practices were conceptualised as independent variables measured through distinct practices. Organisational performance as a dependent variable was measured using constructs of image, interpersonal relations, and product quality. Cultural dimensions adopted for this study were power distance, uncertainty avoidance, individualism or collectivism, and masculinity or femininity. The above conceptual framework was tested by the use of both quantitative and qualitative techniques with data from fifty (50 large foreign multinational companies operating in Kenya. Main findings: Findings indicated that the relationship between SHRM practices and firm performance depend to a greater extent on employee cultural orientations when power distance is considered. Power distance (PD refers to the extent of people accepting that power in institutions and organisations when distributed unequally. The greater the PD, the greater the acceptance of this inequality. Practical/managerial implications: The study supported the notion that the relationship between SHRM practices and firm performance is moderated by power distance through motivation but not by the other three bipolar dimensions namely, Uncertainty Avoidance, Masculinity or Femininity and Individualism or Collectivism. Contribution/value-add: This is the first large-scale empirical article that has focused on the moderating role of employees’ cultural orientations in large

A MULTINATIONAL COMPANY PROBLEM: INFILTRATING INTO THE CLUSTERS TO GAIN COMPETITIVE EDGE IN THE TRADITIONAL MARKETS

Directory of Open Access Journals (Sweden)

Murat KOC

2014-07-01

Full Text Available This paper is concerned with one of the main challenges of the Multinational Companies which they face in the traditional and thus in local markets. Multinational Companies aims to gain competitive advantage through differentiation in terms of their globalization strategy. However, in the local markets where the organic relationship of firms are more designed in local habits, and markets react with stable consumer behaviors, it gets harder to enter into market and drive a competitive edge. This paper aims to understand the reasons of this challenge, the analysis of resistance of traditional markets, successful sample breaking into local market and the strategy around it.

ANALYSIS OF FOREIGN DIRECT INVESTMENTS ENGAGED BY JAPANESE MULTINATIONAL COMPANIES

Directory of Open Access Journals (Sweden)

CODRUŢA DURA

2011-01-01

Full Text Available In recent years, the most visible feature of globalization was the new trend of the capital flow which moves from the stage of nternalization to the stage of transnationalization. The decisive factor that led to this development was the trans-nationalization of production/ distribution networks by multinational companies (MNCs. MNCs, which are also frequently referred to as transnational corporations (TNCs, are conglomerate organizations which carry out multiple and diverse economic activities and they consists of a parent company and a large number of subsidiaries operating in various countries of the world. Japan has been worthy of note on the international business scene not only by the high competitiveness of its companies on the global markets, but especially through the transnationalization of the activities of these enterprises, a process which has resulted in the implementation, via Foreign Direct Investments (FDI of Japanese production units abroad, with significant positive impact both on the global economy and on the domestic economy. A great number of empirical studies since the mid-1990s, using firm-level data, have shown that multinational companies (MNCs dominate today the Japanese business environment. The paper puts together the findings of some interesting working papers published by Japanese researchers in recent years, trying to provide a scientific answer to the following question: “In what way do FDI undertaken by MNCs influence the level of performances achieved by Japanese companies at home?” The conclusion is that FDI and the activity carried out by Japanese MNCs abroad have indubitable positive effects on both countries and firms involved - such as raises in production, employment and productivity at firms’ level or increases in competition intensity among firms, improvements in real wage and welfare at macroeconomic level.

Multinationals' accountability on sustainability: the evolution of third-party assurance of sustainability reports

OpenAIRE

Perego, P.; Kolk, A.

2012-01-01

In this article we explore how multinational corporations (MNCs) adopt assurance practices to develop and sustain organizational accountability for sustainability. Using a panel of Fortune Global 250 firms over a period of 10 years, we document the diffusion patterns of third-party assurance of sustainability reports. We specifically investigate how evolving auditing practices, namely diversity of assurance standards and type of assurance providers, shape the quality of sustainability assuran...

Multinational Corporation and International Strategic Alliance

Institute of Scientific and Technical Information of China (English)

陆兮

2015-01-01

The world is now deeply into the second great wave of globalization, in which product, capital, and markets are becoming more and more integrated across countries. Multinational corporations are gaining their rapid growth around the globe and playing a significant role in the world economy. Meanwhile, the accelerated rate of globalization has also imposed pressures on MNCs, left them desperately seeking overseas alliances in order to remain competitive. International strategic alliances, which bring together large and commonly competitive firms for specific purposes, have gradual y shown its importance in the world market. And the form of international joint venture is now widely adopted. Then after the formation of alliances, selecting the right partner, formulating right strategies, establishing harmonious and effective partnership are generally the key to success.

The dual role of local sites in assisting firms with developing technological capabilities: Evidence from China

DEFF Research Database (Denmark)

Wang, Yuandi; Zhou, Zhao

2013-01-01

.g., knowledge, human capital) and the role of motivating multinational companies (MNCs) to upgrade their local operations in developing countries so as to perform more innovation activities. Few articles are presented that examine the role of local sites in the learning and technological-capability building......, and the collaborations with local industrial community firms positively influence the relationship between firms' international inward technology licensing and technological capabilities. (C) 2012 Elsevier Ltd. All rights reserved....

Trade Adjustments to Exchange Rate Changes by Japanese Manufacturing MNEs: Intra-firm and arm's length transactions

OpenAIRE

ANDO Mitsuyo; KIMURA Fukunari

2013-01-01

This paper examines how Japanese manufacturing multinational enterprises (MNEs) adjust to exchange rate changes. Using the micro-data of Japanese manufacturing MNEs from 1994 to 2010, we find that exports tend to respond to exchange rate changes, in particular when wholly or majority-owned affiliates are dominant among their foreign affiliates and when intra-firm trade ratios are higher. Moreover, the responsiveness to exchange rate changes is higher for intra-firm exports than for total expo...

Institutionalism and culture in strategies of multinational firms: the case of Johnson controls Inc.

Directory of Open Access Journals (Sweden)

José G. Vargas-Hernández

2013-07-01

Full Text Available The aim of this paper is to analyze both the internal and external aspects that may pose a risk to the operations of the subsidiaries of the multinational Johnson Controls Inc. in the U.S. and Mexico from an institutional point of view. The main challenges are the impact in the achievement of goals both of workers and of the same organization and the influence institutions have on the organizational environment, for the decommissioning of some branch/ subsidiary.

An empirical examination of the influence of industry and firm drivers on the rate of internationalization by firms

Science.gov (United States)

Elango, B.

A gradual shift in U.S. firms' 'center of gravity' toward international markets is taking place. This study seeks to explain which drivers are related to this push toward international markets by U.S. firms. In addressing internationalization, previous research has not focused on various drivers that influence the rate of internationalization. Drivers refer to forces, both within and outside the firm, that impact (both positively and negatively) a firm's extent of internationalization. The role of these drivers on the rate of internationalization, though acknowledged in the literature, is yet to be validated through empirical research. This research seeks to narrow the gap in the literature by testing the various relationships among industry drivers, firm drivers, and the rate of internationalization. The objectives of this study are: (A) To develop a conceptual framework that takes into account various forces that influence the internationalization strategy of a firm; (B) To examine empirically (a) the influence of industry drivers on the rate of internationalization pursued by firms; and, (b) the influence of firm drivers on the rate of internationalization by firms. The sample for this study consists of 158 large U.S.- based multinational firms drawn from seven different industries. Data for the study is gathered from a variety of sources including the U.S. Department of Commerce, Bureau of Economic Analysis; COMPUSTAT; and WORLDSCOPE databases. Set-wise regression models were used for data analysis. This study found that global market growth rate, domestic market growth rate, relative size of domestic market to international market, employee productivity, administrative investments, as well as new plant and equipment influences the international strategy of firms. This study explains about 24 percent of the variance of the rate of internationalization. This research finding is contributory to our existing understanding of internationalization in many ways

Producer firms, technology diffusion and spillovers to local suppliers : Examining the effects of Foreign Direct Investment and the technology gap

NARCIS (Netherlands)

Jordaan, J.A.

2017-01-01

In this paper, we conduct a detailed examination of the effects of Foreign Direct Investment (FDI) and the technology gap on local technology dissemination and spillovers. Using unique firm level data from surveys among FDI firms and domestic producer firms and a random sample of their suppliers in

Multinational ownership and R&D intensity: The role of external knowledge sources and spillovers

OpenAIRE

De Beule, Filip; Van Beveren, Ilke

2011-01-01

This paper analyzes the drivers of multinational affiliates' R&D intensity, using a unique dataset based on the fourth Community Innovation Survey for Belgium. Specifically, we investigate the role of foreign affiliates' local (host country) embeddedness and of host country spillovers on foreign affiliates' research efforts. Our findings show that foreign affiliates who are able to tap into local knowledge sources demonstrate a higher research intensity, compared to firms lacking such access....

Use of Information Technology in Business Processes In Pakistani and Multinational Pharmaceutical Companies in Korangi.

Directory of Open Access Journals (Sweden)

IRFAN UL HASAN

Full Text Available This study presents an analysis of IT use and Business Processes (BP in Korangi pharmas. Information system usage and manufacturing performance are moderately associated within the sample. There is little difference in the utilization of IT between the multinational and Pakistani firms. The main deficiency of utilization are in decision support systems and external integration functions. Suggestions are presented for increasing effectiveness of IT use in business process

Motives behind Strategic Alliance Formation among Medium-Sized Manufacturing Firms in Tanzania

OpenAIRE

Kafigi Jeje

2014-01-01

Research on strategic alliance motives has attracted a great attention as firms strive to become market leaders. One critical area is to assess the contribution of these motives to strategic alliance formation. Most studies on alliance motives concentrate on international strategic alliances that involve large or multinational corporations from developed economies. Little research has been done on Small and Medium Enterprises (SMEs), particularly Medium-Sized Enterprises (MEs) from the manufa...

Foreign Exchange Exposure of A Selected Number of Swedish Multinationals : The Capital Market Approach

OpenAIRE

Shudzeka, Basile N; Kum, Hyceinth N.

2007-01-01

This research work analyses the impact of exchange rate fluctuations on firm value. It is based on a sample of 10 Swedish multinational companies selected from two market capitalization segments (Mid and Large Cap) according to the OMX index classification. A multiple linear regression model is used to explore the dependency of the log returns (continuously compounded returns) of each of the sampled companies to the percentage changes in the spot exchange rates for the SEK/U.S. Dollar and SEK...

COEXISTENCE OF PRIVATE FIRMS AND OPEN SOURCE FIRMS UNDER SPILLOVERS AND CONSUMER BIAS

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Murat YILMAZ

2017-12-01

Full Text Available Open source technologies have been an important divergence from the private produc- tion, and some markets have accommodated both open source firms and private firms. We explore the conditions under which such a coexistence of both type of firms can be seen. Through a simple and tractable game theoretical model, with spillovers on the open source production and positive consumer bias for the privately produced good, we analyze the conditions for which, in the equilibrium, a private firm and an open source firm share the market. We find that for large enough consumer bias, the two types cannot coexist, however when the consumer bias is relatively low and the spillover effect is not too strong, then we get a coexistence result.

Organizational architecture of multinational company

OpenAIRE

Vrbová, Tereza

2012-01-01

The Bachelor's Thesis ,,Organizational architecture of multinational company" sets the target to analyse organizational structures used in multinational companies at present. In the teoretical section is briefly described development of this subject, basic concepts associated with organizational architecture such as globalization, multinational companies and organizational architecture. I also generalized main characteristics of organizational forms and describe their pros and cons. The pract...

Factors Affecting Human Resource Management Practices of Foreign Subsidiaries: Acase study of Japanese Multinational Companies in Malaysia

OpenAIRE

Iberahim, Hadijah

2008-01-01

This study investigates how firm-level human resources management (HRM) practices are transformed to fit the organization's needs of developing skilled workers as core competence, in a changing environment where resources are scarce. This paper deals with the issue of factors influencing HRM practices in the development of competent workforce at two Japanese multinational companies (JMNCs)of Malaysian electric and electrical industry. This qualitative study applied longitudinal and comparat...

Influence of Islamic culture on Scandinavian management in Malaysia - a glance at multinational management and Islamic values

OpenAIRE

Gjelsvik, Jorun Titlestad

2001-01-01

This study deals with differences ---especially related to the Islamic culture--- in business between Scandinavia and Malaysia. It is based on interviews with managers in 11 Scandinavian companies located in Malaysia. Globalisation is described as the intensification of worldwide social relations which link distant localities. Local happenings are shaped by events occurring many miles away. This is especially true for the multinational companies. Global firms have increased very much in numbe...

Emissions trading and firms' strategies. The case of power producers

International Nuclear Information System (INIS)

Rousse, O.

2005-11-01

This thesis deals with the impacts of a domestic emissions trading scheme on firms' strategies. As recent experiences of such programs (Acid Rain Program, RECLAIM Program, NOx Budget Program and the European Union Emissions Trading Scheme) concern mainly heat and power producers, we analyze especially strategies of these companies. In context of electricity market deregulation, our study takes two directions: uncertainty and competitive distortions. Concerning uncertainty, we are interested in portfolio management of emission permits, that is choice under uncertainty between buying, selling and banking permits. Concerning competitive distortions, we consider manipulations on the permits and/or products markets. Among others, we investigate interactions between a pollution market and the wholesale electricity market. From a general point of view, we show that a permits market, even competitive, gives to power producers more opportunities to act strategically on wholesale electricity markets. By this way, our study attempts to indicate when these market distortions are more likely to occur and to give some emissions market design instructions. (author)

Adoption of Emissions Abating Technologies by U.S. Electricity Producing Firms Under the SO2 Emission Allowance Market

Science.gov (United States)

Creamer, Gregorio Bernardo

The objective of this research is to determine the adaptation strategies that coal-based, electricity producing firms in the United States utilize to comply with the emission control regulations imposed by the SO2 Emissions Allowance Market created by the Clean Air Act Amendment of 1990, and the effect of market conditions on the decision making process. In particular, I take into consideration (1) the existence of carbon contracts for the provision of coal that may a affect coal prices at the plant level, and (2) local and geographical conditions, as well as political arrangements that may encourage firms to adopt strategies that appear socially less efficient. As the electricity producing sector is a regulated sector, firms do not necessarily behave in a way that maximizes the welfare of society when reacting to environmental regulations. In other words, profit maximization actions taken by the firm do not necessarily translate into utility maximization for society. Therefore, the environmental regulator has to direct firms into adopting strategies that are socially efficient, i.e., that maximize utility. The SO 2 permit market is an instrument that allows each firm to reduce marginal emissions abatement costs according to their own production conditions and abatement costs. Companies will be driven to opt for a cost-minimizing emissions abatement strategy or a combination of abatement strategies when adapting to new environmental regulations or markets. Firms may adopt one or more of the following strategies to reduce abatement costs while meeting the emission constraints imposed by the SO2 Emissions Allowance Market: (1) continue with business as usual on the production site while buying SO2 permits to comply with environmental regulations, (2) switch to higher quality, lower sulfur coal inputs that will generate less SO2 emissions, or (3) adopting new emissions abating technologies. A utility optimization condition is that the marginal value of each input

Global innovation networks and university-firm interactions: an exploratory survey analysis

Directory of Open Access Journals (Sweden)

Gustavo Britto

2015-02-01

Full Text Available The literature on Global Innovation Networks has contributed to identify changes in the innovation activities of multinational corporations. Although university-firm interactions are seen as an important factor for the emergence of GINs, their role has received limited attention. This paper aims to fill this gap in two ways. First, it carries out an exploratory analysis of an original survey dataset, of firms in three industrial sectors from nine developed and developing countries. Second, the paper analyses whether the role of universities in global innovation networks is related to national systems of innovation with varying degrees of maturity. Multiple correspondence analysis and a Probit model are used to establish the relevance of key factors in driving GINs. The results identify distinctive profiles constructed mainly according to firm characteristics, but reflecting country specific patterns of association. The Probit model confirms that internationalization processes and the existence of local interactions substantially increase the probability of interactions with international institutions.

Overview on the Multinational Collaborative Waste Storage and Disposal Solutions

International Nuclear Information System (INIS)

MARGEANU, C.A.

2013-01-01

The main drivers for a Safe, Secure and Global Energy future become clear and unequivocal: Security of supply for energy sources, Low-carbon electricity generation and Extended nuclear power assuring economic nuclear energy production, safe nuclear facilities and materials, safe and secure radioactive waste management and public acceptance. Responsible use of nuclear power requires that – in addition to safety, security and environmental protection associated with NPPs operation – credible solutions to be developed for dealing with the radioactive waste produced and especially for a responsible long term radioactive waste management. The paper deals with the existing multinational initiative in nuclear fuel cycle and the technical documents sustaining the multinational/regional disposal approach. Meantime, the paper far-reaching goal is to highlight on: What is offering the multinational waste storage and disposal solutions in terms of improved nuclear security ‽

Multinational alternatives and nuclear nonproliferation

International Nuclear Information System (INIS)

Scheinman, L.

1981-01-01

The use of multinational institutional arrangements to control sensitive nuclear-fuel-cycle activities has interested policymakers since the dawn of the nuclear age. Several such ventures have been tried in the past, largely for economic, commercial, or technical reasons, and they have enjoyed varying degrees of success. More recently, with the spread of sensitive nuclear technologies, multinational arrangements have received increasing attention as a means of reinforcing international safeguards which, together with political commitments on peaceful use, have been the principal components of the nonproliferation regime. The political acceptability and efficacy of multinational arrangements is related to the historic experience with multinational ventures, the changed political circumstances of the 1970s, and the probable requirements for constructive future cooperation. As part of a comprehensive regime covering the development of sensitive nuclear activities, multinational arrangements can reinforce the regime in a manner that is widely acceptable. A political effort to win support for such arrangements is thus worthwhile. 29 references

La competitività delle imprse manufatturiere statunitensi. (The competitive position of U.S. manufacturing firms

Directory of Open Access Journals (Sweden)

R.E. LIPSEY

2013-12-01

Full Text Available Con l'alto valore costante del dollaro recentemente siè verificata la  preoccupazione per l' impatto a lungo termine sulla competitività dei produttori statunitensi. Questo studio distingue tra la competitività delle imprese statunitensi ed i vantaggi degli Stati Uniti come una base di produzione . Si è constatato che , anche se la quota statunitense del commercio mondiale è diminuita a partire dai primi anni 1970, la quota detenuta da imprese americane, al contrario di imprese che producono negli Stati Uniti, è aumentato. Si sostiene che le multinazionali statunitensi hanno superato il calo del vantaggio comparativo degli Stati Uniti come base di produzione spostando all'estero.With the continuing high value of the dollar there has recently been concern over the long-term impact on the competitiveness of US manufacturers. This study distinguishes between the competitiveness of US firms and the advantages of the United States as a production base. It is found that, although the US share of world trade has declined since the early 1970s, the share held by US firms, as opposed to firms producing in the United States, has increased. It is argued that US multinationals have overcome the decline in the comparative advantage of the United States as a production base by moving abroad.JEL: F23, L60

Inward FDI and demand for skills in manufacturing firms in Sweden

DEFF Research Database (Denmark)

Bandick, Roger; Hansson, Pär

2009-01-01

We observe a substantial increase in foreign ownership in Sweden in the 1990s. Did that have any effect on relative demand for skilled labor? Has technology transfers-often associated with inward FDI-led to an increased demand for skills due to skilled-biased technical change? Are there any grounds...... for the concerns in the public Swedish debate that more skilled activities have been moved to other countries where the headquarters are located? Estimating relative labor demand at the firm level and using propensity score matching with difference-in-difference estimation, we obtain support for that relative...... demand for skilled labor tend to rise in non-multinationals (non-MNEs)-but not in multinationals (MNEs)-that become foreign-owned. Other interesting findings are that larger presence of foreign MNEs in an industry appears to have a positive impact on the relative demand for skills in Swedish MNEs within...

Investment, Financing Constraints, and Internal Capital Markets: Evidence from the Advertising Expenditures of Multinational Firms

OpenAIRE

C. Edward Fee; Charles J. Hadlock; Joshua R. Pierce

2009-01-01

We find a significant positive relation between a firm's advertising spending in the United States and its contemporaneous foreign cash flow. This relation holds even after controlling for factors that should be related to the optimal level of domestic advertising, and it is stronger for subsets of firms that we expect to be relatively more financially constrained. Our evidence supports the hypothesis that there is a causal and economically substantial link between cash flow and investment sp...

Multinationals and Institutional Competitiveness

DEFF Research Database (Denmark)

Hull Kristensen, Peer; Morgan, Glenn

This article discusses how institutional competitiveness and multinationals are mutually enriching concepts. Seen from the perspective of Multinationals, institutional competitiveness becomes expressed at two levels. At the level of corporate HQs institutional competitiveness proves itself...... competitiveness of Liberal Market Economies and Coordinated Markets Economies under the current competitive regime....

THE DYNAMICS OF OVERSEAS BUSINESS ACTIVITIES BY MULTINATIONAL COMPANIES FROM JAPAN

Directory of Open Access Journals (Sweden)

CODRUŢA DURA

2011-01-01

Full Text Available At the beginning of the 21st century, the new economic order settled at international level is based on the intensification of the activities of multinational companies (MNC on global markets. Japan – the third world economy in 2010 – registers outstanding economic results due to its strong connection to the current of the globalization of international affairs. The issue of understanding the key role of Japanese MNCs in international business received a great deal of attention in recent years. We found that Japanese firms expanded their overseas production from 3.1% in 1986 to 16.3% in 2005 and 17% in 2009. Although MNCs are a minority in terms of the number of firms, they nevertheless dominate the Japanese trade. In recent years, Japanese firms have become more active in developing overseas activities by establishing local subsidiaries and acquiring local companies. Therefore, cross-border Mergers & Acquisitions (M&A appeared to be a very useful tool through which Japanese MNCs expanded their tentacles worldwide. Despite the devastating effects of the great East Japan Earthquake, statistical data released by UNCTAD show that Japan will again be, on the long run, a leading investor for outward FDI. Therefore, Japanese MNCs will continue to play a key role within international business environment.

The Case of a Newly Implemented Modern Management Accounting System in a Multinational Manufacturing Company

Directory of Open Access Journals (Sweden)

Daniel Watts

2014-06-01

Full Text Available Contemporary management accounting techniques (such as TQM, BSC, JIT are widely lauded by academia but the proposed relevance to business has not necessarily the view held by industry (e.g. Burns & Vaivio, 2001; Chenhall & Langfield-Smith, 1998; Innes et al., 2000. The purpose of this article is to investigate the acquisition by a modern multi-national firm of a major IT-based management accounting program to assess the relevance and usefulness of its functionality by identifying the type(s of systems that are utilised and the rationale for upgrading or modifying its system(s. This study relies on a single case based on two in-depth semi structured interviews with accounting and finance professionals in a multi-national manufacturing company that recently implemented a modern management accounting system. The findings indicate that despite demonstrating some relevance of the management accounting information, the manufacturer deactivated components of the system that were deemed irrelevant at particular levels of the organisation. This paper provides evidence about the non-reliance on management accounting information in a multinational company operating in Australia. The findings in the study imply that relevance is linked to implementation, planning and training will help managers to better prepare themselves in setting up contemporary management accounting systems.

Outsourcing Strategies of Emerging Country Firms : Are they Different from Developed Country Multinationals?

NARCIS (Netherlands)

Fleury, A.; Arkader, R.; Größler, A.; Timenes Laugen, B.

2010-01-01

The purpose of the paper is to analyze differences in the sourcing strategies of manufacturing firms from emerging and from developed markets. More specifically, we test whether manufacturers from emerging markets have other objectives when sourcing from within their countries or from international

OPTIMAL BUSINESS DECISION SYSTEM FOR MULTINATIONALS: A MULTIFACTOR ANALYSIS OF SELECTED MANUFACTURING FIRMS

Directory of Open Access Journals (Sweden)

Oforegbunam Thaddeus Ebiringa

2011-03-01

Full Text Available Traditional MIS has been made more effective through the integration of organization, human andtechnology factors into a decision matrix. The study is motivated by the need to find an optimal mixof interactive factors that will optimize the result of decision to apply ICT to manufacturingprocesses. The study used Factor analysis model based on the sampled opinion of forty (40operations/production managers and two thousand (2000 production line workers of three leadingmanufacturing firms: Uniliver Plc., PZ Plc, and Nigerian Breweries Plc operating in Aba IndustrialEstate of Nigeria. The results shows that a progressive mixed factor loading matrix, based on thepreferred ordered importance of resources factors in the formulation, implementation, monitoring,control and evaluation of ICT projects of the selected firms led to an average capability improvementof 0.764 in decision efficiency. This is considered strategic for achieving balanced corporate growthand development.

Employees choice of knowledge sharing tools in a global firm : a study of MNC employee's choice of formal or informal knowledge sharing tools

OpenAIRE

Loly, Linn Karine; Breilid, Olav Aleksander Simensen

2014-01-01

Masteroppgave (MSc) in Master of Science in International Management, Handelshøyskolen BI, 2014 Due to changes in the competitive landscape and increasing globalisation, resources and the most effective use of these has become the key to competitive advantage for most multinational firms. As employees are in the possession of unique knowledge and expertise, employees have become an important resource for firms, and thus efficient transfer of knowledge to other part of the or...

Human resource policy and Danish multinational companies

DEFF Research Database (Denmark)

Fleming, Daniel; Søborg, Henrik

A study of Danish multinational companies' human resource policy in their subsidiaries in Malaysia and Singapore.The sample of companies consists of 8 Danish multinational companies with activities in both Malaysia and Singapore.......A study of Danish multinational companies' human resource policy in their subsidiaries in Malaysia and Singapore.The sample of companies consists of 8 Danish multinational companies with activities in both Malaysia and Singapore....

Multiple Learning Tracks: For Training Multinational Managers

Science.gov (United States)

Harvey, Michael G.; Kerin, Roger A.

1977-01-01

The problem of identifying and training college students to be effective multinational marketing managers is investigated in three parts: (1) Identification of multinational manager attributes, (2) selection of multinational managers, and (3) multiple "track" training programs. (TA)

Competitive advantage and the existence of the multinational corporation: earlier research and the role of frictions

OpenAIRE

Asmussen, Christian Geisler; Foss, Nicolai J.

2014-01-01

This article provides a counterpoint to Hashai and Buckley’s article ‘Is competitive advantage a necessary condition for the emergence of the multinational enterprise?’We agree with their conclusion that it is, in fact, not a necessary condition, but argue that the theoretical reasons behind this are different and more diverse than the ones they propose. We suggest that much extant economic theory is, in fact, consistent with their view that firms may internationalize without owning or achiev...

Multinational Companies, Technology Spillovers, and Plant Survival

OpenAIRE

Holger Görg; Eric Strobl

2003-01-01

This paper examines the effect of the presence of multinational companies on plant survival in the host country. We postulate that multinational companies can impact positively on plant survival through technology spillovers. We study the nature of the effect of multinationals using a Cox proportional hazard model which we estimate using plant level data for Irish manufacturing industries. Our results show that the presence of multinationals has a life enhancing effect only on indigenous plan...

Emerging Market Multinationals

DEFF Research Database (Denmark)

Gammeltoft, Peter; Hobdari, Bersant

2017-01-01

International knowledge flows and innovation are becoming ever more important to the competitiveness of multinational corporations. Emerging market multinationals (EMNCs) in specific are deploying increasingly activist measures to harness foreign sources of knowledge and innovation as a strategy...... in which this disagreement can be reconciled through recognition of other EMNC advantages, particularly abilities to leverage country-specific assets, and possession and development of dynamic capabilities. Finally, we identify a set of core themes in the recent literature on strategic asset...

Non-proliferation and multinational enterprises

International Nuclear Information System (INIS)

1979-04-01

The paper supplements CC/WG.2/9 in presenting the Japanese delegation's contribution in the areas of non-proliferation and multi-national enterprises. The paper questions whether multinational enrichment enterprises would constitute a significant non-proliferation factor, noting that the nature of the venture might create a potential for the dissemination of sensitive information. The paper also argues that a multi-national venture which was not economically competitive (with national facilities) would have questionable viability. The conclusion is that non-proliferation advantages, if any, would be a result, not an objective of such a venture

Efficiency of European Dairy Processing Firms

NARCIS (Netherlands)

Soboh, R.A.M.E.; Oude Lansink, A.G.J.M.; Dijk, van G.

2014-01-01

This paper compares the technical efficiency and production frontier of dairy processing cooperativesand investor owned firms in six major dairy producing European countries. Two parametric produc-tion frontiers are estimated, i.e. for cooperatives and investor owned firms separately, which are

Nato Multinational Brigade Interoperability: Issues, Mitigating Solutions and is it Time for a Nato Multinational Brigade Doctrine?

Directory of Open Access Journals (Sweden)

Schiller Mark

2016-06-01

Full Text Available Multinational Brigade Operations involving NATO and its European Partners are the norm in the post-Cold War Era. Commonplace today are Multinational Brigades, composed of staffs and subordinate units representing almost every NATO Country and Partner, participating in training exercises or actual operations in both the European and Southwest Asian Theatres. Leadership challenges are prevalent for the Multinational Brigade Commander and his staff, especially those challenges they face in achieving an effective level of brigade interoperability in order to conduct successful operations in NATO’s present and future operating environments. The purpose of this paper is twofold: to examine the major interoperability obstacles a multinational brigade commander and his staff are likely to encounter during the planning and execution of brigade operations; and, to recommend actions and measures a multinational brigade commander and his staff can implement to facilitate interoperability in a multinational brigade operating environment. Several key interoperability topics considered integral to effective multinational brigade operations will be examined and analysed to include understanding partner unit capabilities and limitations facilitated by an integration plan, appropriate command and support relationships, compatible communications, synchronized intelligence and information collection, establishing effective liaison, and fratricide prevention. The paper conclusion will urge for a NATO land brigade doctrine considering doctrine’s critical importance to effective brigade command and control interoperability and the expected missions a land brigade will encounter in future NATO operating environments as part of the NATO Very High Readiness Joint Task Force (VJTF.

Human Capital Intensity in Technology-Based Firms Located in Portugal: Do Foreign Multinationals Make a Difference?

OpenAIRE

Ana Teresa Tavares; Aurora A. C. Teixeira

2005-01-01

This paper contributes to the scarce empirical literature on the impact of foreign ownership on human capital intensity. New evidence is provided, based on a comprehensive, large-scale survey of technology-based firms located in Portugal. Using two alternatives measures of human capital (one based on skills, another on education), the key findings are that: (1) foreign ownership directly (and significantly) impacts on firms general human capital (education); (2) foreign ownership indirectly (...

The value relevance of the foreign currency translation differences : a study of multinational oil and gas companies in Australia

OpenAIRE

Svetalna Vlady

2008-01-01

This paper investigates the relationship between foreign currency translation differences and changes in firm’s market equity value of the Australian multinational firms in the oil and gas industry. The paper empirically examines this relationship under the former Australian accounting standard AASB 1012 “Foreign Currency Translation”. The paper thereby supports the new accounting standard AASB 121 “The Effects of Changes in Foreign Exchange Rates” that adopted a functional currency approach....

MULTINATIONAL COMPANIES AND FOREIGN DIRECT INVESTMENT

OpenAIRE

Lucia P. BLĂJUȚ

2014-01-01

This paper highlights the significant share of multinational companies in international trade that are a factor of developing global economies. In the context of economic globalization the activity of multinational companies and their foreign direct investment have a strong impact on the host country which presents advantages and disadvantages for them. The main objective of this article is the review of the important role played by multinationals in economic development, especially in develo...

In Search of New Relationship between Internationalization and Firm Performance

DEFF Research Database (Denmark)

Wehrmann, Carsten; Turcan, Romeo V.

diversification. Following the above criticism, this paper provides a different way of measuring the impact of internationalization on firm performance. The group comparison of multi-national and international companies based on financial data show that the reasons for internationalization are not cost advantages......, economies of scale or others frequently mentioned in internationalization research. Instead, this paper identifies an effects of internationalization, which is labeled financing advantage. MNEs can generate disproportional higher revenue growth and higher cash flows than IEs. Therefore, they have more...... equity capital to invest and are thus not exposed to interest change risks to finance growth....

Multinationals and international environmental policy

International Nuclear Information System (INIS)

Dam, L.; Scholtens, B.

2009-01-01

Multinationals with relatively poor environmental policy establish themselves in countries with weak environmental regulation. These activities are not undertaken in the poorest or most corrupt countries though. The question arises if multinationals with relatively developed environmental behavior settle less or more often in countries with environmental legislation. [mk] [nl

The Transfer Pricing Problem in a Service Firm : A Case Study on a Swedish Multinational Enterprise

OpenAIRE

Husain, Shakir; Yilmaz, Emre

2015-01-01

The purpose of this study is to answer the research question of how a service company (ServiceCo) could achieve a transfer price of its services. This is of particular interest, due to the growth of service firms that have rapidly increased and surpassed the manufacturing firms, as well as the dominant logic shifting towards services. However, the problem with this field of study is that transfer pricing with regards to the service industry, is a rather unexplored phenomenon in which the guid...

COUNTRY OF ORIGIN EFFECT ON ORGANIZATIONAL INNOVATION IN MALAYSIA: THE MEDIATING ROLE OF STRUCTURE

Directory of Open Access Journals (Sweden)

Aizzat Mohd. Nasurdin

2004-01-01

Full Text Available The two main objectives of this study are: first, to determine whether the level of innovation (technological and process, product and administrative varies by country of origin, and second, to investigate the influence of country of origin on organizational innovation (technological and process, product and administrative via the mediating role played by organizational structure (formalization and centralization, among firms operating in Malaysia. Statistical analyses of the 80 multinational corporations and 43 locally-owned firms and joint-ventures using ANOVA revealed that significant differences do exist in terms of their innovation levels. Firms from the West (American multinationals and European multinationals had higher levels of technological and process innovation compared to firms from the East (Eastern multinationals plus local companies and joint-ventures. Regarding product innovation, American multinationals were found to be more innovative compared to European multinationals and firms from the East (Eastern multinationals plus local firms and joint-ventures. In terms of administrative innovation, American multinationals were found to be most innovative followed by European multinationals, and lastly, firms from the East (Eastern multinationals plus local companies and joint-ventures. Additionally, country of origin had no indirect effect on the three forms of innovation via structure. Implications and suggestions for future research are discussed.

Technology transfer by multinationals

OpenAIRE

Kostyantyn Zuzik

2003-01-01

The paper analyses the issue of technology transfer by multinational corporations. The following questions are explored: (a) world market of technologies, the role of MNCs (b) Choice of the technology transfer mode, Dunning's OLI-theory as a factor of the choice of the mode of transfer (c) measurement and profitability of technology transfer (d) transfer of technology through partnerships, JVs, alliances and through M&As (e) aspects of technology transfer by services multinationals. Paper uti...

POEMS: a case study of an Italian wine-producing firm.

Science.gov (United States)

Ardente, Fulvio; Beccali, Giorgio; Cellura, Maurizio; Marvuglia, Antonino

2006-09-01

Over the last decade, researchers paid much attention to concepts such as Design for Environment, Extended Producer Responsibility, Responsible Chain Management, and Eco-design. Many management tools and standards (such as EMAS, ISO 14001, LCA, EPD, Ecolabel) have been developed to support companies in the evaluation and management of their environmental performance and to pursue continual environmental improvement. The more recent development of the aforesaid fields looks at interorganizational environmental management. Such an approach can complement the more traditional intraorganizational corporate environmental management approaches and tools. A typical example of this new trend is the Product Oriented Environmental Management System (POEMS), which represents the natural evolution of the above-mentioned tools, combining the features of EMS, EPD and Ecolabel. Although the structure of the POEMS is still not standardized, many experimental applications have yet been carried out in Europe. In developing a POEMS, a company needs to determine all of the environmental impacts caused at all life-cycle stages of the product and, ideally, to reduce all of them through a continual commitment. The aim of the present study was to perform a survey of the developed POEMS models and to analyze their peculiarities and drawbacks in the application to Small and Medium Enterprises. A case study regarding an Italian winery company is presented. The study analyzes the structure and the activities of the examined firm, in order to estimate direct and indirect environmental impacts following a life-cycle approach. The chosen functional unit is a 0.75-L bottle of red wine. The article also suggests some solutions to improve the environmental performances of the firm's products.

Inference from concave stochastic frontiers and the covariance of firm efficiency measures across firms

International Nuclear Information System (INIS)

Dashti, Imad

2003-01-01

This paper uses a Bayesian stochastic frontier model to obtain confidence intervals on firm efficiency measures of electric utilities rather than the point estimates reported in most previous studies. Results reveal that the stochastic frontier model yields imprecise measures of firm efficiency. However, the application produces much more precise inference on pairwise efficiency comparisons of firms due to a sometimes strong positive covariance of efficiency measures across firms. In addition, we examine the sensitivity to functional form by repeating the analysis for Cobb-Douglas, translog and Fourier frontiers, with and without imposing monotonicity and concavity

The Risk Implications of Multinational Enterprise

DEFF Research Database (Denmark)

Andersen, Torben Juul

2011-01-01

Purpose – Multinational structure has been linked to operational flexibilities that can improve corporate adaptability and a knowledge-based view suggests that multinational resource diversity can facilitate responsive opportunities. The enhanced maneuverability from this can reduce earnings vola...

Knowledge Transfer and Innovation in Brazilian Multinational Companies

Directory of Open Access Journals (Sweden)

Alisson Eduardo Maehler

2011-11-01

Full Text Available The article analyzes how innovation generation occurs in subsidiaries of Brazilian multinational corporations acting in Portugal, specifically the role of customers in the process and the knowledge dynamics. A multiple case study approach was conducted in four subsidiaries operating in the Portuguese market for at least one year. Firms came from different activity sectors and sizes. Results identify permanent knowledge exchange flows between subsidiaries and headquarters, while the largest pour is from the later ones (in Brazil to their wings in Portugal. There are frequent innovations taking place in Portuguese subsidiaries. Such innovation processes are typically incremental in nature and occur predominantly in only some areas of the organization, where greater specialization and expertise are located. The most relevant results regard the existing strong interaction between subsidiaries and markets, especially with the larger customers that contribute with suggestions and are able to influence the new products creation in the subsidiaries.

Firm Leverage and the Financial Crisis

OpenAIRE

Fatih Altunok; Arif Oduncu

2014-01-01

The firm growth dynamics is an important topic since the growth performance of firms is the main source of the economic growth in countries. Generally, crises produce a sharp decline in firms’ growth and this leads to a decline in both the level of employment and the income of households. This paper focuses on the role of firm leverage on the growth performance of the firm during the global financial crisis. We investigate whether the firms that experienced a large leverage increase before th...

How powerful are the multinational corporations?

OpenAIRE

Pausenberger, Ehrenfried

1983-01-01

Much unease, distrust and criticism is being expressed in the current debate about the potential power of multinational corporations and the possibilities of abuse. What is the basis for the power of the multinationals, and what possibilities are available for controlling and limiting that power?

Forming a multinational joint venture

International Nuclear Information System (INIS)

Bhatia, N.K.; Garb, R.H.; Statton, T.D.

1990-01-01

This paper discusses the basis and mechanics for forming a multinational joint venture. The topics of the paper include the motivations for a joint venture, selection of the appropriate co-venturer, management of the multinational joint venture, and the joint venture agreement. The authors state that a joint venture is not applicable or desirable in all instances and to be successful, must be carefully planned

Lending Behavior of Multinational Bank Affiliates

Czech Academy of Sciences Publication Activity Database

Derviz, Alexis; Podpiera, J.

2011-01-01

Roč. 1, č. 1 (2011), s. 19-36 ISSN 2077-429X Institutional research plan: CEZ:AV0Z10750506 Keywords : Multinational bank * Contagion * Substitution * Agency Subject RIV: AH - Economics http://library.utia.cas.cz/separaty/2011/E/derviz-lending behavior of multinational bank affiliates.pdf

Impact of firm-level factors and market entry mode on performance: A study of service MNCs in an emerging economy

Directory of Open Access Journals (Sweden)

George Acheampong

2012-04-01

Full Text Available The study examined the market entry strategies of multinational services companies into Ghana’s service sector and the linkages to firm level performance after entry. Literature was reviewed on market entry strategies, internationalisation, globalisation of service firms and resource-based theory. The study adopted a combination of both quantitative and qualitative research approaches in this study. The qualitative approach was for deeper enquiry and quantitative for empirical testing. The study found that firm specific factors affect the market entry strategy while the entry strategy also affects performance after it enters the market. Home country factors and the features of services are also seen to moderate on the effects mentioned. Respondents also indicated that the features of services were an industry wide issue not so much consideration is given to it.

Multinational Oil Companies and Corporate Social Responsibilities ...

African Journals Online (AJOL)

Niger Delta Region, Nigeria), the concept of corporate social responsibility must be fully imbibed by the multinational oil companies. Therefore, this study examines multinational oil companies and corporate social responsibilities with particular ...

Lean Transformation of Multinational Concerns

DEFF Research Database (Denmark)

Matthiesen, Rikke Vestergaard; Johansen, John

2008-01-01

triggered. This paper reports on exploratory studies from a multinational company adopting centrally managed pilot projects as a transformation mechanism for continuous change towards a lean business system and an organizational culture of continuous improvements (CI). Competitive pressure demands...... from a multinational company adopting centrally managed pilot projects as a transformation mechanism for continuous change towards a lean business system and an organizational culture of continuous improvements (CI)....

Organizational architecture of multinational companies

OpenAIRE

Sikorová, Lenka

2009-01-01

The main goal of the bachelor thesis Organizational Architecture of Multinational Companies is to elaborate the overview of organizational structures that are used by modern global companies. The thesis contains an analysis of such companies development, principles of functioning, pros and cons and the opportunities which these brings. It also contains a description of the basic concepts associated with organizational architecture such as globalization, multinational companies and organizatio...

Innovation and Institutional Embeddedness of Multinational Corporations

DEFF Research Database (Denmark)

Pogrebnyakov, Nicolai

2014-01-01

Review of: Innovation and Institutional Embeddedness of Multinational Corporations / edited by Martin Heidenreich. (Cheltenham: Edward Elgar, 2012)......Review of: Innovation and Institutional Embeddedness of Multinational Corporations / edited by Martin Heidenreich. (Cheltenham: Edward Elgar, 2012)...

Developing multinational radioactive waste repositories: Infrastructural framework and scenarios of cooperation

International Nuclear Information System (INIS)

2004-10-01

Currently the management of radioactive wastes centres on national strategies for collection, treatment, interim storage and disposal. This tendency to focus exclusively on national strategies reflects the fact that radioactive waste is a sensitive political issue, making cooperation among countries difficult. It is consistent with the accepted principle that a country that enjoys the benefit of nuclear energy, or the utilization of nuclear technology, should also take full responsibility for managing the generated radioactive waste. However, there are countries whose radioactive waste volumes do not easily justify a national repository, and/or countries that do not have the resources or favourable natural conditions for waste disposal to dedicate to a national repository project or would prefer to collaborate in shared initiatives because of their economic advantages. In such cases it may be appropriate for these countries to engage in a multinational collaborative effort to ensure that they have access to a common repository, in order that they can fulfil their responsibilities for their managing wastes safely. In response to requests from several Member States expressing an interest in multinational disposal options, the IAEA produced in 1998 a TECDOC outlining the important factors to be taken into account in the process of realizing such options. These factors include for example, technical (safety), institutional (legal, safeguards), economic (financial) socio-political (public acceptance) and ethical considerations. The present report reviews the work done in the previous study, taking into account developments since its publication as well as current activities in the field of multinational repositories. The report attempts to define the concepts involved in the creation of multinational repositories, to explore the likely scenarios, to examine the conditions for successful implementation, and to point out the benefits and challenges inherent to

Corporate Responsible Behavior in Multinational Enterprise

DEFF Research Database (Denmark)

Andersen, Torben Juul

2017-01-01

Purpose: This study aims to analyze how leadership influenced corporate responsible behavior in a complex multinational organization with ethical principles imposed by concrete actions on regulatory, environmental and international labor issues. Increasing functional specialization, multinational...... diversification and global expansion also diluted those values. Originality/value: Corporate responsible behavior is a significant challenge in large organizations with many and diverse multinational stakeholders. Ethical conduct derives from executive morality, but the role of leaders as instigators...... diversity and business acquisitions challenged the core values and called for more formal enforcement. Core values executed through investment in positive economic externalities enhanced the reputation and facilitated sustainable collaborative solutions. Design/methodology/approach: This single-case study...

Effective Strategy-Making in Multinational Subsidiaries

DEFF Research Database (Denmark)

Andersen, Torben Juul; Andersson, Ulf; Palmié, Maximilian

for global efficiencies and autonomy for effective local responses. Strategic guidance from headquarters frames subsidiary decisions in line with corporate priorities and distributed decision power coupled with informal exchange of information facilitates strategic responses in tune with local market......We outline commonalities between studies of subsidiary decentralization and autonomous strategy-making in the international business and strategic management fields. This suggests that corporate headquarters should engage in strategy-making processes that provide a combination of formal direction...... requirements. We identify some important nuances in the integration-responsiveness conundrum supported by an empirical study of 351 multinational subsidiaries. We discuss the implications for multinational strategy practice and suggest future research venues to investigate strategy-making in multinational...

Cultural Penetration in Latin America through Multinational Advertising Agencies.

Science.gov (United States)

Del Toro, Wanda

Few studies have addressed the issue of cultural penetration of Latin American countries by multinational corporations (MNCs) and multinational advertising agencies (MAAs). Whether they are considered multinational or transnational, MAAs have expanded as a form of international communication in the global market, forming the backbone of MNCs.…

Crosscultural Issues in the Process of Sending U.S. Employees of Multinational Corporations for Overseas Service: Theoretical Considerations with Practical Implications.

Science.gov (United States)

Griffis, Betty Ann

Defining the multinational as a producing enterprise motivated by profit and owning or controlling facilities in more than one country, this paper analyzes the process employed by United States multinationals in sending parent country nationals abroad for service in a subsidiary. It first examines the process in its fullest form by citing…

Toward Unity of Command for Multinational Air Forces

National Research Council Canada - National Science Library

Asjes, David

1998-01-01

To assure unity of command in future multinational air operations, combatant commanders must embrace the necessity of multinational air forces, maximize the integration of allied officers within air...

MULTINATIONAL COMPANIES AND FOREIGN DIRECT INVESTMENT

Directory of Open Access Journals (Sweden)

Lucia P. BLĂJUȚ

2014-11-01

Full Text Available This paper highlights the significant share of multinational companies in international trade that are a factor of developing global economies. In the context of economic globalization the activity of multinational companies and their foreign direct investment have a strong impact on the host country which presents advantages and disadvantages for them. The main objective of this article is the review of the important role played by multinationals in economic development, especially in developed economies. In the economies in which they operate, they bring capital, technology transfer, improve the national reputation and influence the other companies to invest in this countries, they provide a substantial source of revenue for the government and always improve the balance of payments in the host country.

The expatriates in multinational companies: A trend in Serbia

Directory of Open Access Journals (Sweden)

Ratković Tatjana

2014-01-01

Full Text Available Expansion of international operations has imposed new demands to multinational companies, especially in the area of human resource management. International human resource management is primarily characterized by movement of employees across the boundaries of one country in order to take various roles in foreign subsidiaries of multinational companies. One of the most important decisions a multinational company has to make refers to selection of employees to fill in positions in its foreign subsidiaries depending on nationality of employees. This paper tends to explore the significance and roles of expatriates in obtaining success of multinational company in international operations in order to emphasize the advantages expatriates may bring to a multinational company. This paper aims to analyze one of crucial issues that multinational companies face in global environment - the process of expatriation, particularly focusing on the number of expatriates (parent country nationals in subsidiaries of foreign multinational companies in Serbia and the tendency of changing their number in these subsidiaries, as well as nationality of managers in key positions in these subsidiaries (CEO and HR manager. Empirical research performed through a questionnaire has shown certain features of subsidiaries of multinational companies in Serbia, indicating that the number of expatriates has increased since their founding until today (contrary to expectations based on theoretical concepts and results of studies performed in other countries and environments. However, as it was expected, the analysis of results has shown that most subsidiaries in Serbia have replaced their expatriates in the position of CEO (and HR manager, which has brought companies numerous benefits, such as lower expenses.

OUTSOURCING STRATEGIES. HOW TO FORMALIZE AND NEGOTIATE THE OUTSOURCING CONTRACT.

OpenAIRE

Meo Colombo Carlotta; Pellicelli Michela

2011-01-01

In the globalized economy multinational firms have given rise to local firms able to produce at a low cost and at acceptable quality levels. A growing number of firms have outsourced production and manufacturing activities of all types to these firms, not only to reduce production costs but also to make their organizational structures more streamlined and flexible. Outsourcing decisions, which originally were limited to production which had a modest technological content and was of marginal i...

Organization of multinational undertakings in the nuclear field

International Nuclear Information System (INIS)

Yajima, Masayuki

1982-01-01

Various proposals have been put forward to establish multinational undertakings for enrichment, fuel fabrication, reprocessing, spent fuel storage and waste management. The purpose of this paper is to investigate the legal, institutional framework aspects of multinational undertakings in the field of nuclear fuel cycle. The selection of the appropriate bodies representing the interest of participating countries would largely depend on the object or role of multinational undertakings. Regarding the principle of formation, URENCO is a much informative model of formation, which distinguishes the equity participation at national level and multinational level. The allocation of service between equity participants and non-equity participants depends on the objective of establishing business. Some priority in service allocation should be given to equity participants, and the participants having non-proliferation objective may require service allocation to avoid proliferation risk. The degree of achieving non-proliferation goal is related to the scope of participation. The experience in the field of nuclear energy seems to suggest that the concept of two-tiered decisionmaking structure is generally accepted. Various legal instruments appropriate to constitute multinational fuel cycle arrangement were examined, referring to the precedents and experience. (Kako, I.)

Patterns of technology transfer between parent companies and subsidiaries rivals. its effect on competition; Patrones de transferencia de tecnologia entre empresas matrices filiares y rivales. su efecto sobre la competencia

Energy Technology Data Exchange (ETDEWEB)

Mendi, P.; Moner-colonques, R.; Sempere-Monerris, J. J.

2012-07-01

This paper provides a quantitative view of the international market for technology, in which most of the transfers happen within multinational firms by means of royalty based contracts. We develop a competition model where one of the firms, partially owned by a multinational firm that holds a process innovation, has been transferred the technology. When the affiliated firm is the most efficient one in the market, a higher share implies the rival of the affiliated firm paying positive and greater royalties in more cases and so the multinational can control the intensity of competition. (Author)

International HR Strategy of Brazilian Technology Multinationals

Directory of Open Access Journals (Sweden)

Patricia Morilha Muritiba

2010-10-01

Full Text Available Four cases of Brazilian Multinationals from the information technology [IT] sector were compared in their international Human Resources strategy. The analysis is focused on the development and application of two research models. One analyzes the level of subsidiary autonomy in terms of strategic HR decisions, including difficult decisions regarding coordination in multinationals, following the theoretical approach of the autonomy of subsidiaries (Kidger, 2002; Nohria & Ghoshal, 1997. The other is related to the level of internationalization of HR strategies, defined as the capacity to take advantage of globalization, providing the best resources for the company regardless of where they are located (Sparrow, 2007. Both models were applied in a multiple case study method (Eisenhardt, 1989. Data were collected through semi-structured interviews and company reports, and analyzed through content analysis. The results show: (a a more centralizing characteristic of the multinational companies examined, despite the limitations of this choice as shown by the literature; and (b that Brazilian IT multinationals tend to rely more on their national competencies when managing human resources instead of going global to aggregate differentiated competencies.

Inter-firm and intra-firm efficiency measures

NARCIS (Netherlands)

Oude Lansink, A.G.J.M.; Silva, E.; Stefanou, S.

2001-01-01

Intra-firm efficiency involves computing a particular firm's efficiency degree over time relative to the firm-specific production frontier. Inter-firm efficiency reveals a particular firm's performance over time relative to the ``best practice frontier'' among the set of comparable firms. These

Nationality Divides and Shared Leadership in Multinational Teams

DEFF Research Database (Denmark)

Paunova, Minna

2015-01-01

How shared leadership is enacted in teams that are nationally diverse is currently under- researched, despite the increasing presence of multinational teams in the workplace. To better understand the phenomenon of shared leadership in multinational team contexts, we propose two ways in which...

The structure of a market containing boundedly rational firms

Science.gov (United States)

Ibrahim, Adyda; Zura, Nerda; Saaban, Azizan

2017-11-01

The structure of a market is determined by the number of active firms in it. Over time, this number is affected by the exit of existing firms, called incumbents, and entries of new firms, called entrant. In this paper, we considered a market governed by the Cobb-Douglas utility function such that the demand function is isoelastic. Each firm is assumed to produce a single homogenous product under a constant unit cost. Furthermore, firms are assumed to be boundedly rational in adjusting their outputs at each period. A firm is considered to exit the market if its output is negative. In this paper, the market is assumed to have zero barrier-to-entry. Therefore, the exiting firm can reenter the market if its output is positive again, and new firms can enter the market easily. Based on these assumptions and rules, a mathematical model was developed and numerical simulations were run using Matlab. By setting certain values for the parameters in the model, initial numerical simulations showed that in the long run, the number of firms that manages to survive the market varies between zero to 30. This initial result is consistent with the idea that a zero barrier-to-entry may produce a perfectly competitive market.

Multinational Quality Assurance

Science.gov (United States)

Kinser, Kevin

2011-01-01

Multinational colleges and universities pose numerous challenges to the traditional models of quality assurance that are designed to validate domestic higher education. When institutions cross international borders, at least two quality assurance protocols are involved. To guard against fraud and abuse, quality assurance in the host country is…

Overeducation, wages and promotions within the firm

NARCIS (Netherlands)

Hartog, J.

2004-01-01

We analyse data from personnel records of a large firm producing energy and telecommunication and test for the effect of deviations between required and attained education of workers. Required education is measured as hiring standards set by the firm. We find the usual effects of over- and

Piiriülesed mikroettevõtted on ka Eesti IT-äride võimalus = Estonian IT firms on course to becoming micro-multinationals / Mihkel Lauk

Index Scriptorium Estoniae

Lauk, Mihkel

2014-01-01

Piiriülesest mikroettevõttest (micro multinational). Eesti IKT-ettevõtete arengut pidurdavatest teguritest. PwC kutsub üles looma Läänemere Infoühiskonna Äriakadeemiat, mille ülesanne oleks korraldada väikeettevõtlusõpet koostöös piirkonna ülikoolide ja eraettevõtetega

Toward a Phase-Model of Global Knowledge Management Systems in Multinational Corporations

DEFF Research Database (Denmark)

Nielsen, Bo Bernhard; Michailova, Snejina

2004-01-01

According to Heinrich v. Pierer, CEO at Siemens, `an e-business year is only three months long. Ifyou want to be a leader in this fast-paced world, you must be faster than the others. Just being onboard is by far not enough'. The ability to be faster than others, however, is only relevant...... if it islinked to management of key assets in the pursuit of continuous competitive advantage. The keyasset of the present is knowledge and in the future it is likely to be continuous and timelyinnovation based on effective management of knowledge assets. Most firms today, however, lack aneffective Knowledge......-outperform competition and becomeleaders of the e-conomy'. Using examples from a number of large multinational companies thispaper proposes a phase model for the development of a global Knowledge Management Systemwith attention to pertinent policy and management issues in each stage.Keywords: Knowledge management system...

Aggressive International Tax Planning by Multinational Corporations: The Canadian Context and Possible Responses

Directory of Open Access Journals (Sweden)

Brian J. Arnold

2014-09-01

government has so far been unable to bring itself to take any meaningful action against aggressive international planning by U.S.resident corporations. Were Canada to enact and enforce rules that clamped down on aggressive international tax planning by its own resident corporations, it would only put Canadian firms at a competitive disadvantage relative to American (or other international rivals. Until the United States is willing and able to take the lead on aggressive international tax planning by multi-national corporations, the reality is that smaller countries, including Canada, should be cautious about making changes to its international tax rules that are dependent on other countries making similar changes.

Study on the control mechanism of China aerospace enterprises' binary multinational operation

Institute of Scientific and Technical Information of China (English)

Wang Jian; Li Hanling; Wu Weiwei

2008-01-01

China's aerospace enterprises carry on the multinational operation and participate in the international competition and the international division of labor and cooperation positively.This article first analyzs China aerospace enterprises' binary multinational business control objective and constructes its model.Then the article analyzes the tangible and intangible control mechanism of China aerospace enterprises' binary multinational operation respectively.Finally,the article constructs the model of China aerospace enterprises' binary multinational operation mechanisms.

Management Strategies in Multinational PricewaterhouseCoopers Romania

Directory of Open Access Journals (Sweden)

Norina Popovici

2011-05-01

Full Text Available This paper presents and analyzes the key strategies that underpin multinational firms acting in this global environment. The paper underlines the importance of strategy, in the current economic context, for a complex company such as PriceWaterhouse Coopers. After a laborious documentation, theoretical and practical, the paper presents the main strategic options which ensure the business development in the context of globalization. Due to complexity of work carried out by PricewaterhouseCoopers, due to a developed organizational structure and the large number of employees , the need for the strategy is " vital " for achieve the desired performance . In the past 10 years, PriceWaterhouse Coopers turned its global work on expanding the network size and diversity of services offered. Challenges and opportunities of today require a new strategic vision. Therefore, PriceWaterhouse Coopers calls for integrating the concept of sustainability as a management philosophy. In this context, which shapes the economy based on knowledge, management is a science which, through instruments such as corporate social responsibility, coaching procces, attracting talents, can help businesses to develop, diversify or to survive. The research of this company that led to the application of these tools work in Romanian companies, depending on the particular circumstances.

Multinational/regional repository - an illusion or solution

International Nuclear Information System (INIS)

Mele, I.

2006-01-01

The concept and current status of multinational and regional repositories are presented in the paper. Particular emphasis is given to the results and findings of the recent EU project SAPIERR, investigating the feasibility of regional repository concepts in Europe. Prospects for further development of multinational repositories are also brought forward and the impact and potential benefits of this approach to our national disposal programme are discussed as well. (author)

PERAN OECD DALAM MEMINIMALKAN UPAYA TAX AGRESIVENESS PADA PERUSAHAAN MULTINATIONALITY

Directory of Open Access Journals (Sweden)

Hanindia Hajjar Damayanti

2017-04-01

Full Text Available Abstract: OECD's Role in Minimizing Tax Aggressiveness Efforts at Multinationality Companies. This paper aims to prove the relation between multinationality transaction of tax heaven countries and the tax investigation toward the tax aggressiveness. This research is done by quantitative approach upon the companies registered in BEI for 2010-2014 periods. The findings denote the tax heaven countries have no effort to conduct the tax aggressiveness on which the multinationality negatively has no effect since the occurrence in the OECD Transfer Pricing Guidelines as the guideline for both the taxing authority and the multinational companies in accomplishing the transfer pricing matter. In contrary, the investigation does not influence the tax aggressiveness.

How weak are the signals? International price indices and multinational enterprises

OpenAIRE

Lorraine Eden; Peter Rodriguez

2004-01-01

International price indices (IPIs) provide the most timely and comprehensive market information available to international business. How do multinational enterprises (MNEs) affect the validity of IPIs? We review the earlier debate over methods for calculating IPIs, which concluded that unit values were inferior to specification prices, although most governments produce only unit value indexes. We explore three ways in which MNEs can affect the validity of IPIs: determining the ‘representative...

Ethics in international business: multinational approaches to child labor

NARCIS (Netherlands)

Kolk, A.; van Tulder, R.J.M.

2004-01-01

How do multinationals address conflicting norms and expectations? This article focuses on corporate codes of ethics in the area of child labor as possible expressions of Strategic International Human Resource Management. It analyses whether fifty leading multinational adopt universal ethical norms

AN INVESTIGATION INTO MEDIUM-SIZED MULTINATIONAL ENTERPRISES

Directory of Open Access Journals (Sweden)

Daniele Schilirò

2013-09-01

Full Text Available The paper provides an investigation of medium-sized Italian industrial enterprises that have become multinational companies. It concetrates on the set of medium and medium-large enterprises who seem to grow more in foreign markets, either through exports or through foreign direct investment. The work also offers a descriptive empirical picture of the performance of medium-sized Italian multinationals, which is compared with the performance of large corporations. From this analysis, which is based on several data sources, it is possible to outline a profile regarding the medium-size italian multinational enterprises; the aim is to understand the complex strategy towards internationalization of these companies, where the dimension of production is important and, therefore, innovation has a key role. Also the commercial dimension is crucial, because it leads to point to the direct supervision of foreign markets and to look very carefully at the customers, offering them a wide range of services. Finally, the paper highlights some critical issues that the medium sized multinational enterprises have to face for competing: namely, the stagnant productivity, the high taxation, the insufficient institutional support for internationalization, the bureaucracy and its high costs, the lack of skilled human capital available in the labor market due to inadequate policy training.

Peculiarity of radioactivity pollution of manufacturing environment gas and oil producing firms of the apsheron region

International Nuclear Information System (INIS)

Mamedov, A.M.; Alekperova, J.A.

2002-01-01

Full text: Present time protection of the biosphere from technogene pollution is the important problem, having common to all mankind value. In circuits of the technogene pollution of the environment the soil is a carrying on link for through soil the contaminants freely go to air environment, in underground waters in plants and in foodstuff of a vegetative and animal genesis. In subsequent these contaminants on the indicated chains by penetrating in an organism of the people render an ill effect on their health. In this plane the radiological contamination of soil introduces still large dangerous. As the radionuclides of soil can render as external radiation, and by getting in an organism with air, water and foodstuff can cause internal radiation. In this plane, for detection of a role of gas and oil producing firms in radiological contamination soil as object of an environment, we conduct researches by a hygienic estimation of radiological contamination of soil of territory of oil-fields OOGE 'Gum adasi' of the Apsheron region. By spectrometric method were studied a natural background radiation and radioactivity of soil of different territories of shop of complex opening-up of oil. Established, that for the raw tank the specific activity reaches 4438-9967 Bk/kg, close of the product repair shop the radioactivity reached 650- 700 micro R/hour. In territory of the region 'Gum adasi', where the waste from cleaning chisel tubes were accumulated, the radioactivity made 600 micro R/hour. These indexes the superior background level is significant. The analysis of power spectrums a gamma of radiations is model from the indicated sites has shown, that the radioactivity is conditioned by isotopes of a radium. The researches have allowed to demonstrate a radioactivity technogene of impurity of rocks to recommend urgent dumping of above-stated waste in bunkers on sites, retracted by it. Thus, was established, that gas and oil producing firms contributing to radiological

New Firm Survival: Industry versus Firm Effects

NARCIS (Netherlands)

D.B. Audretsch (David); P. Houweling (Patrick); A.R. Thurik (Roy)

1997-01-01

textabstractRecent studies show that the likelihood of survival differs significantly across firms. Both firm and industry characteristics are hypothesized to account for this heterogenity. Using a longitudinal database of manufacturing firms we investigate whether firm or industry characteristics

FIRMS’ TRANSNATIONALIZATION. EVOLUTION OF MULTINATIONAL GROUPS OPERATING IN ROMANIA

Directory of Open Access Journals (Sweden)

Carmen NISTOR

2014-11-01

Full Text Available International business development is a complex phenomenon, characterized by a particularly dynamic due both to external and internal factors of the company and the need to foreshadow future directions in the development of the economic, social, political framework. Taking into consideration the ways that a company can expand, this article aims to analyse the evolution of multinational corporations operating in Romania in 2007-2012. Using data provided by The National Institute of Statistics (NIS, we focus on the multinationals groups that entered Romanian market in the period mentioned above. In this regard, we compared the multinational groups with the national ones, identifying the concentration of foreign capital by country. The results show that although has been recorded a significant variation of multinational groups in Romania, especially during the financial crisis period, the companies from Deutschland occupy first place by number of employees.

Internal capital markets and lending by multinational bank subsidiaries

NARCIS (Netherlands)

De Haas, Ralph; van Lelyveld, Iman

We use new panel data on the intra-group ownership structure and the balance sheets of 45 of the largest multinational bank holdings to analyze what determines the credit growth of their subsidiaries. We find evidence for the existence of internal capital markets through which multinational banks

GROWTH STRATEGIES OF MULTINATIONAL COMPANIES STUDY CASE: PRECIOUS METALS JEWELRY RETAIL INDUSTRY

Directory of Open Access Journals (Sweden)

Raluca Daniela RIZEA

2015-04-01

Full Text Available The turbulent start of the new century has brought new challenges for firms, industries and countries. This paper investigates business and growth strategies of multinational companies within the precious metals jewelry retail industry. The main objective is to identify whether a company’s performance is determined by its growth strategy or not. The purposes for the research are: to understand what kind of business models and strategies global precious metals jewelry retailers pursue, what growth strategies global jewelry retailers pursue and if there is a link between a company’s growth strategy and its profitability. Least but not last, the findings are reviewed on their transferability to other industries. The findings regarding the business models and growth strategies pursued are that all of them are based on Porter’s generic strategies as well as internationalization and diversification but there is no specific preference given to any of the strategic elements.

Capital market financing, firm growth, and firm size distribution

OpenAIRE

Didier Brandao,Tatiana; Levine,Ross Eric; Schmukler,Sergio L.

2015-01-01

How many and which firms issue equity and bonds in domestic and international markets, how do these firms grow relative to non-issuing firms, and how does firm performance vary along the firm size distribution? To evaluate these questions, a new data set is constructed by matching data on firm-level capital raising activity with balance sheet data for 45,527 listed firms in 51 countries. T...

Firms, Nonprofits, and Cooperatives : A Theory of Organizational Choice

NARCIS (Netherlands)

Herbst, P.; Prüfer, J.

2007-01-01

Abstract This paper formalizes the difference between firms, nonprofits, and cooperatives and identifies optimal organizational choice. In a model of quality provision, we find a clear ranking of quality produced: Firms provide lowest and nonprofits highest levels of quality. Efficiency, however,

Funding Costs and Loan Pricing by Multinational Bank Affiliates

Czech Academy of Sciences Publication Activity Database

Derviz, Alexis

2009-01-01

Roč. 9, č. 9 (2009), s. 1-48 ISSN 1803-7070 Institutional research plan: CEZ:AV0Z10750506 Keywords : multinational banks * bank loan pricing * internal capital market Subject RIV: AH - Economics http://library.utia.cas.cz/separaty/2010/E/derviz- funding costs and loan pricing by multinational bank affiliates.pdf

MULTINATIONAL COMPANIES AND THEIR ATITUDE TOWARDS UNION ACTIVITY

OpenAIRE

Maria Cristina BÃLÃNEASA

2013-01-01

The intensification of the global economic activity has generated changes in working relations. The intensification of the activities within multinational companies has determined greater employment flexibility, but also a lower collective bargaining power of the employees, because the multinationals attempted to weaken the power of trade unions. The purpose of this paper is precisely to identify the attitude of these companies towards trade union activity and the reaction of labour organizat...

Firms, Nonprofits, and Cooperatives : A Theory of Organizational Choice

NARCIS (Netherlands)

Herbst, P.; Prüfer, J.

2007-01-01

This paper formalizes the difference between firms, nonprofits, and cooperatives and identifies optimal organizational choice. In a model of quality provision, we find a clear ranking of quality produced: Firms provide lowest and nonprofits highest levels of quality. Efficiency, however, depends on

Who Gets to Lead the Multinational Team?

DEFF Research Database (Denmark)

Paunova, Minna

2017-01-01

of their core self-evaluations. A study of over 230 individuals from 46 nationalities working in 36 self-managing teams generally supports the expected main and moderation effects. Individual core self-evaluations enhance an otherwise weak effect of English proficiency, but compensate for low levels of national......This article examines the emergence of informal leadership in multinational teams. Building on and extending status characteristics theory, the article proposes and tests a model that describes how global inequalities reproduce in multinational teams, and accounts for who gets to lead these teams...

The Transfer of Organisational Culture in Multinational Companies

OpenAIRE

Donmez, Ozlem

2007-01-01

The business world started to integrate internationally; therefore, it is likely to say that the multinational companies have become one of the key actors in international business. Since the multinational companies operate in many countries simultaneously; they face to multicultural challenges. The organisational culture is also influenced by the cultural diversity. It is possible to state that the transfer of the organisational culture is essential for the creation of the compatibility in t...

Establishing a Communication Link between Multinational Companies and Their Subsidiaries.

Science.gov (United States)

Rao, Hema; Golen, Steven

A key characteristic of multinational companies is a worldwide perspective and orientation in managerial decision making. In its quest for international opportunities, a multinational company confronts many problems and uncertainties in evaluating and dealing with political, legal, economic, social, cultural, and governmental policy variables and…

Free Trade Agreements and Firm-Product Markups in Chilean Manufacturing

DEFF Research Database (Denmark)

Lamorgese, A.R.; Linarello, A.; Warzynski, Frederic Michel Patrick

In this paper, we use detailed information about firms' product portfolio to study how trade liberalization affects prices, markups and productivity. We document these effects using firm product level data in Chilean manufacturing following two major trade agreements with the EU and the US....... The dataset provides information about the value and quantity of each good produced by the firm, as well as the amount of exports. One additional and unique characteristic of our dataset is that it provides a firm-product level measure of the unit average cost. We use this information to compute a firm...

Lending behavior of multinational bank affiliates

Directory of Open Access Journals (Sweden)

Alexis Derviz

2011-03-01

Full Text Available We study the parent influence on lending by affiliates of a multinational bank. In the proposed theoretical model, local lending is influenced by shareholder-affiliate manager delegation and precautionary motives. The outcome is either contagion (the loan volume in the affiliate follows the direction of the parent bank country shock or performance-based reallocation of funds (substitution, depending on the degree of manager delegation in the affiliate and the liquidity-sensitivity in theparent bank. Empirical investigation, deliberately conducted on a sample not covering the latest financial crisis, shows that also in “normal” times, multinational banks that are likely to delegate lending decisions or be more liquidity-sensitive are more inclined towards contagionist behavior.

Executive compensation and firm performance: Evidence from Indian firms

Directory of Open Access Journals (Sweden)

Mehul Raithatha

2016-09-01

Full Text Available The study examines the relationship between executive compensation and firm performance among Indian firms. The evidence suggests that firm performance measured by accounting, as well as market-based measures, significantly affects executive compensation. We also test for the presence of persistence in executive compensation by employing the system-generalised methods of moments (GMM estimator. We find significant persistence in executive compensation among the sample firms. Further, we report the absence of pay–performance relationship among the smaller sample firms and business group affiliated firms. Thus, our findings cast doubts over the performance-based executive compensation practices of Indian business group affiliated firms.

CRM System Implementation in a Multinational Enterprise

Science.gov (United States)

Mishra, Alok; Mishra, Deepti

The concept of customer relationship management (CRM) resonates with managers in today's competitive economy. As more and more organizations realize the significance of becoming customer-centric in today's competitive era, they embrace CRM as a core business strategy. CRM an integration of information technology and relationship marketing provides the infrastructure that facilitates long-term relationship building with customers at an enterprise-wide level. Successful CRM implementation is a complex, expensive and rarely technical projects. This paper presents the successful implementation of CRM in a multinational organization. This study will facilitate in understanding transition, constraints and implementation of CRM in multinational enterprises.

The influence of market orientation on firm performance and members’ livelihood in Ethiopian seed producer cooperatives

NARCIS (Netherlands)

Sisay, Dawit Tsegaye; Verhees, Frans J.H.M.; Trijp, Van Hans C.M.

2017-01-01

The positive effects of market orientation and its components on firm performance are empirically supported by studies conducted for large firms in developed economies. However, its influence on performance in developing and emerging (D&E) economies, particularly under a cooperative's context,

Internationalization Strategy and Financial Performance in Brazilian Firms

Directory of Open Access Journals (Sweden)

Pedro Paulo Mendes Silva

2011-12-01

Full Text Available The internationalization of the firm and the appearance of multinational companies are not recent events. The first initiatives to realize businesses overseas and increase profits in this way date from the beginning from the Modern Age. For Brazilian companies in particular, this phenomenon has been gaining attention since the 1990s, with the commercial opening of the country. The objective of this study was to analyze the strategy of internationalization in Brazilian companies, in particular the case of publically traded companies with foreign direct investments greater than $10 million, and the relation with the financial performance of these companies. Through a quantitative study using the rate of variation of internationalization and financial performance, researchers developed an analysis of the relation between the process of internationalization and financial performance indicators in nine companies that make up the non-probabilistic sample of convenience. The results concluded that there is a weak positive correlation with financial indicators of growth; profitability metrics show a negative relationship in some of the independent variables.

THE AMAZING UNIVERSE OF RUSSIAN MULTINATIONALS: NEW INSIGHTS

Directory of Open Access Journals (Sweden)

CODRUŢA DURA

2013-12-01

Full Text Available Over the past few years, large multinational companies originating from Russia have shown outstanding performances alongside their road from regional dominance to global leaders. Taking stock of recent approaches in the literature and statistical data released by well-known international organizations, our papers aims to provide some new insights from the amazing universe of Russian multinationals, following the 2008-2009 global economic crisis. The list of the largest multinationals from Russia shows that corporations from oil & gas and metallurgical sector are prevailing, as a consequence of the resource – based character of the Russian economy. Although Russian giants represents a quite heterogeneous class of companies, they do share several common features such as their propel mechanism of expansion on the global business stage (leveraged by the resource-based nature of their home economy, their tendency to invest in the neighboring countries (like Commonwealth of Independent States or East European countries, their modes of entry (through brownfield projects etc.

Multinational corporations and corporate social responsibility in the peace building in Colombia

OpenAIRE

Jiménez Peña, Gabriel

2014-01-01

This paper focuses on the role of the multinational corporations in the Colombian peace process. First a theoretical frame work is built which aims to shed light on the significance of multinationals in this process. The study then presents the specific Colombian experience with relation to the role of multinationals in the peace process. The penultimate section deals with the relation between peace, corporate social responsibility, and the UN Global Compact. Finally it offers a conclusion wi...

Multinationals and corporate social responsibility

NARCIS (Netherlands)

Kolk, A.

2010-01-01

This paper aims to shed some more light on the current debate related to corporate social responsibility (CSR), specifically considering multinational enterprises (MNEs) and the complexities they face when dealing with international issues and a range of stakeholders. It discusses notions of CSR in

An Exploratory Investigation of Locally Constituted Challenges to Communication Management in Multinational Teams

DEFF Research Database (Denmark)

Lauring, Jakob; Jonassson, Charlotte

2008-01-01

It has been argued that multinational teams create a number of competitive advantages when used strategically. However, multinational teams are not always successful, and a number of studies indicate that communication between team members may be the main obstacle. The purpose of this article...... is to investigate communication problems in organizations consisting of multinational teams. It is argued that researchers should not only look for differences in national culture when analyzing barriers to the communication flow. Challenges to communication may also develop in the locally constituted...... organizational culture. This is illustrated by an ethnographic field study in a multinational department of a Danish organization....

The Effects of Organization Design on Media Richness in Multinational Enterprises.

Science.gov (United States)

Whitfield, J. Michael; And Others

1996-01-01

Examines effects of two organizational design parameters, divisionalization and centralization, on the media richness choices of Chief Executive Officers (CEOs) of multinational enterprises in obtaining information from foreign subsidiaries on strategic issues. Samples 86 US multinationals; finds formal divisional structure affects CEOs' use of…

Testing the Link Between Multinationality and the Return on Foreign Assets

NARCIS (Netherlands)

G.S. Yip (George); A. Kudina; A.M. Rugman (Alan)

2009-01-01

textabstractA large and robust emperical literature demonstrates that there is a strong relationship between the performance of a multinational enterprise (MNE) and its degree of multinationality. We develop a new metric to capture the return on foreign assets (ROFA), which we use as an alternative

Emerging Market Multinational Companies and Internationalization

DEFF Research Database (Denmark)

Nielsen, Bo Bernhard; Estrin, Saul; Nielsen, Sabina

2014-01-01

This paper furthers our understanding of the role of contextual conditions influencing internationalization of emerging market multinational companies (EMNCs). We use resource-based, industrial organization, and economic development theories to develop a multilevel theoretical framework...

Do Peer Firms Affect Firm Corporate Social Responsibility?

OpenAIRE

Shenggang Yang; Heng Ye; Qi Zhu

2017-01-01

Peer-firm strategies are a critical factor for corporate finance, and corporate social responsibility (CSR) is the main trend for evaluating the behavior of firms. On the basis of the connection between peer strategy and CSR, this paper explores the CSR strategies employed by a sample of Chinese firms during the 2008–2015 period. Our two main empirical findings are as follows. First, the CSR strategies of firms have a positive effect on their CSR behavior. Second, when there is the CSR gap be...

Multinational Heterogenity and Knowledge Diffusion

NARCIS (Netherlands)

Smeets, R.A.L.M.

2009-01-01

During the past two decades, governments all around the world have spent millions of dollars to attract Foreign Direct Investment (FDI) of multinational companies. The large sums of money spent in this way have been justified on grounds of the alleged benefits of such activities in terms of domestic

Three Organizational Challenges for Multinational Enterprises

NARCIS (Netherlands)

Drogendijk, Rian; van Tulder, Rob; Verbeke, Alain; van Tulder, Rob; Verbeke, Alain; Drogendijk, Rian

2015-01-01

The rapidly changing and volatile institutional environments, within which Multinational Enterprises (MNEs) must operate, have put traditional organisational forms under pressure. Globalization and regionalism develop at the same time, whereas regulation facilitating Foreign Direct Investment (FDI)

Prospecting theoretical approaches to understand internationalization of creative economy firms

Directory of Open Access Journals (Sweden)

Sílvio Luís de Vasconcellos

2017-12-01

Full Text Available We argue that the internationalization process of firms in the creative economy has particular aspects that distinguish it from internationalization of firms in traditional economic sectors. We explore ways in which the international business literature might be helpful for understanding how internationalization takes place in firms whose core business is creation of ideas. We conducted a case study using a focus group technique to investigate a creative economy firm specialized in computer graphics. The firm already does business internationally as a producer of electronic mockup models, but is transitioning to the computer-generated video production industry. Our results suggest that behavioral approaches to international business related to entrepreneurship, as well as country origin effects and networks theory could be useful to expanding knowledge about the internationalization process in such firms, in which creativity is a critical resource.

Emerging Market Multinational Companies and Internationalization

DEFF Research Database (Denmark)

Estrin, Saul; Nielsen, Bo B.; Nielsen, Sabina

2017-01-01

We develop a multilevel theoretical framework for investigating the role of home country urbanization for emerging market multinational companies' (EMNCs) international expansion. We propose that more urbanized home environments directly increase EMNC's proclivity to internationalize and moderate...

LOCATION DECISIONS OF MULTINATIONAL COMPANIES IN ROMANIA

Directory of Open Access Journals (Sweden)

Lucia P. BLĂJUȚ

2016-07-01

Full Text Available This paper investigates the location decisions of foreign direct investments by the most important global multinational companies in Romania. The study covers the top 100 multinational companies, according to Fortune and underline that all of them have the headquarters location in the United States. In particular, this analysis presents the distribution of global companies based on the main industry and major economic sectors. The first company, from the rank 100, that invests in our country is Exxon Mobil (the number two on the list and has numerous projects in petroleum refining industry in many other countries, because energy sector is one of the most important ones in the global economy.

International Taxation and the Direction and Volume of Cross-Border M&As

OpenAIRE

Huizinga, Harry; Voget, Johannes

2006-01-01

In an international merger or acquisition, the national residences of the acquirer and the target determine to what extent the newly created multinational firm is subject to international double taxation. This paper presents evidence that the parent-subsidiary structure of newly created multinational firms reflects the prospect of international double taxation. The number of acquiring firms at the national level similarly reflects international double taxation. The evidence suggests that tax ...

Globalization : Countries, Cities and Multinationals

NARCIS (Netherlands)

McCann, Philip; Acs, Zoltan J.

2011-01-01

McCann P. and Acs Z. J. Globalization: countries, cities and multinationals, Regional Studies. This paper explores the relationship between the size of a country, the size of its cities, and the importance of economies of scale in the modern era of globalization. In order to do this, it integrates

Modular Structures in a Multinational Force Headquarters

National Research Council Canada - National Science Library

Stewart, K; Christie, M

2004-01-01

.... It is proposed that future Multinational Force (MNF) military headquarters (HQ) can achieve this flexibility through a modular organizational structure enabled by networked information management and communication technologies...

Leadership styles of nurse managers in a multinational environment.

Science.gov (United States)

Suliman, Wafika A

2009-01-01

This is a descriptive study conducted at a multinational working environment, where 1500 nurses representing 52 nationalities are employed. The study aimed at exploring the predominant leadership style of nurse managers through self-evaluation and staff nurses' evaluation and the impact of working in a multinational environment on their intention to stay or quit. The value lies in its focus on leadership styles in an environment where national diversity among managers, staff, and patients is very challenging. The study included 31 nurse managers and 118 staff nurses using Bass and Avolio's (1995) Multifactor Leadership Questionnaire. The results showed that nurse managers and staff nurses reported transformational leadership as predominant with significant difference in favor of nurse managers. Participants' nationality and intention to stay or quit affected their perception of transformational leadership as a predominant style. The implications highlight the need for senior nursing management to set effective retention strategies for transformational nurse managers who work at multinational environments.

Global Oligopolistic Competition and Multinational Corporations

DEFF Research Database (Denmark)

Hansen, Michael W.; Hoenen, Anne Kristin

2013-01-01

The contemporary International Business (IB) literature has ’forgotten’ a key insight of the early foreign direct investment (FDI) literature, namely that FDI often is driven by strategic interaction of multinational corporations (MNCs) in oligopolistic industries. Instead, the IB literature has ...

Helping Behavior in Multinational Executive Networks

DEFF Research Database (Denmark)

Mors, Marie Louise; Miller, Stewart; McDonald, Michael

This study develops a framework that draws upon the socio-psychology and network literatures to explain helping behavior in an executive’s multinational network. Focusing on executives' perceptions of willingness to help, we examine network structure (geographic and organizational boundaries), st...

Private incentives to vertical disintegration among firms with heterogeneous objectives

OpenAIRE

Rossini, Gianpaolo

2003-01-01

A vertically integrated monopoly is compared to a decentralized market arrangement where production is segmented. A Labor Managed firm produces an input used by a profit maximizer manufacturer of a final good. Unlike what usually occurs between homogeneous firms we find circumstances in which the decentralised vertical arrangement is privately superior to the integrated one.

Technical, institutional and economic factors important for developing a multinational radioactive waste repository

International Nuclear Information System (INIS)

1998-06-01

Countries planning and implementing nuclear energy programmes should assume responsibility for the safe management and final disposal of radioactive waste from their programmes. However, there are countries whose radioactive waste volumes do not easily justify a national repository, and/or countries which do not have the resources or favorable natural conditions for waste disposal to dedicate to a national repository project. These countries would benefit from multinational co-operation for the disposal. Interest in the concept of a multinational repository for radioactive waste has been expressed by several Member States and the waste management community in the light of the potential benefit to the partner countries from the safety, technical and economic standpoints. However, such an approach involves many political and public acceptance issues and therefore a consensus among countries or regions concerned is a prerequisite. In this context, it was deemed appropriate that the IAEA access the technical, institutional, ethical and economic factors to be taken into account in the process of such consensus building. This report is intended to provide an assessment which can serve as a general basis for establishing a waste management policy and/or further assessing specific issues such as ownership and liability, institutional aspects and problems related to long term commitments. This report is divided into five sections where the first section gives background, objectives, scope and structure of the report. Section 2 discusses multinational repository concept in terms of needs and the role of a multinational repository, interaction between host and partner countries and formulation of a multinational repository. Section 3 identifies basic issues to be considered for establishing a multinational repository, and some specific issues relating to specific waste categories. Section 4 analyses potential benefits and challenges to be addresses in establishing a

Multinational fuel-cycle proposal for Latin America

Energy Technology Data Exchange (ETDEWEB)

Koehler, JR, W C

1980-03-01

The growth of energy demand projected for Latin America could be met by nuclear generated electricity if a multinational arrangement can be set up to meet the proliferation containment requirements and develop economies of scale that are satisfactory to all parties. A regionalized fuel-cycle center is outlined as a possible prototype for Latin America. A satisfactory operation there would indicate export feasibiltiy of the concept to other developing areas. The international strategies already in place have a heavy emphasis on weapons proliferation and have not been adequate. A multinational fuel-cycle concept with co-location technologies has the advantages of cost sharing, acceptable safeguards, and institutional barriers to proliferation. Security and cooperation between participants could be problems. 17 references. (DCK)

Estimating risk propagation between interacting firms on inter-firm complex network.

Science.gov (United States)

Goto, Hayato; Takayasu, Hideki; Takayasu, Misako

2017-01-01

We derive a stochastic function of risk propagation empirically from comprehensive data of chain-reaction bankruptcy events in Japan from 2006 to 2015 over 5,000 pairs of firms. The probability is formulated by firm interaction between the pair of firms; it is proportional to the product of α-th power of the size of the first bankrupt firm and β-th power of that of the chain-reaction bankrupt firm. We confirm that α is positive and β is negative throughout the observing period, meaning that the probability of cascading failure is higher between a larger first bankrupt firm and smaller trading firm. We additionally introduce a numerical model simulating the whole ecosystem of firms and show that the interaction kernel is a key factor to express complexities of spreading bankruptcy risks on real ecosystems.

Estimating risk propagation between interacting firms on inter-firm complex network.

Directory of Open Access Journals (Sweden)

Hayato Goto

Full Text Available We derive a stochastic function of risk propagation empirically from comprehensive data of chain-reaction bankruptcy events in Japan from 2006 to 2015 over 5,000 pairs of firms. The probability is formulated by firm interaction between the pair of firms; it is proportional to the product of α-th power of the size of the first bankrupt firm and β-th power of that of the chain-reaction bankrupt firm. We confirm that α is positive and β is negative throughout the observing period, meaning that the probability of cascading failure is higher between a larger first bankrupt firm and smaller trading firm. We additionally introduce a numerical model simulating the whole ecosystem of firms and show that the interaction kernel is a key factor to express complexities of spreading bankruptcy risks on real ecosystems.

Exploring New Firm Creation Out of Brand Communities: The Case of LEGO

DEFF Research Database (Denmark)

Hienerth, Christoph; Lettl, Christopher; Biskjaer, Michael Mose

2011-01-01

In the field of new product development, brand communities have attracted a great deal of attention from both academics and practitioners as a means of facilitating consumer-producer co-creation processes. In this paper, we extend the line of research on brand communities to the field...... brand community enjoys a broader range of LEGO products and services. Our findings reveal the emergence of a hybrid organizational form in which new business ideas are neither exploited solely within the boundaries of the focal producer firm, nor pursued by fully independent new firms alone. We observe...... of entrepreneurship studies by examining the conditions under which new firms emerge out of these social networks. Our empirical setting is the global LEGO brand community. As a well-known pioneering firm that is constantly experimenting with new ways of collaborating with its fan and customer base, LEGO recently...

Taxing Multinationals 'Post-BEPS' - What's Next?

NARCIS (Netherlands)

M.F. de Wilde (Maarten)

2017-01-01

textabstractThe taxation of multinational companies has been attracting a great deal of attention in recent years. Com- pany tax planning and country tax competition have increasingly been questioned, by the general public, media, in politics and academia. Countries compete for investment, reducing

Transformation of Manufacturing Firms to Servitisation Firms

DEFF Research Database (Denmark)

Lin, Chih-Cheng; Ma, Zheng; Tanev, Stoyan

2014-01-01

It is crucial for the manufacturing SMEs to reconsider their business strategy in order to be able to launch customer-centric solutions. This ability is associated with a paradigm shift from a product-orientation to service-orientation. One of the major challenges to success in transforming...... a traditional manufacturing firm to service-oriented firms is the conspicuous lack of publications in this research stream. Applying a case study research approach, this study explores the transformation model for manufacturing SMEs to servitisation firms by adopting a network approach, and reveals...

International expansion of Chinese multinationals: the new challenge of globalization

OpenAIRE

Quer, Diego; Claver-Cortés, Enrique; Rienda, Laura

2010-01-01

Over the last few years, a new generation of Chinese multinationals has set out to conquer global markets, featuring major international acquisitions that were unthinkable until very recently. This work seeks to analyze the nature of this emerging phenomenon, illustrating the reasons behind the international expansion of Chinese multinationals, the factors that facilitate and hinder this process, the entry modes that they use and the strategic implications for Western companies of their sudde...

Do Investors Forecast Fat Firms? Evidence from the Gold Mining Industry

OpenAIRE

Borenstein, Severin; Farrell, Joseph

2006-01-01

JEL CODES: D21, G3, L2, L72 KEYWORDS: profit function, free cash flow, gold mining, x-efficiency, rent seeking, fat ABSTRACT: Conventional economic theory assumes that firms always minimize costs given the output they produce. News articles and interviews with executives, however, indicate that firms from time to time engage in cost-cutting exercises. One popular belief is that firms cut costs when they are in economic distress, and grow fat when they are relatively wealthy....

Multinational uranium enrichment in the Middle East

International Nuclear Information System (INIS)

Ahmad, Ali; Salahieh, Sidra; Snyder, Ryan

2017-01-01

The Joint Comprehensive Plan of Action (JCPOA) agreed to by Iran and the P5+1 in July 2015 placed restrictions on Iran’s nuclear program while other Middle Eastern countries– Egypt, Jordan, Saudi Arabia, Turkey, and the United Arab Emirates–are planning to build their own nuclear power plants to meet increasing electricity demands. Although the JCPOA restricts Iran's uranium enrichment program for 10–15 years, Iran's neighbors may choose to develop their own national enrichment programs giving them a potential nuclear weapons capability. This paper argues that converting Iran's national enrichment program to a more proliferation-resistant multinational arrangement could offer significant economic benefits–reduced capital and operational costs–due to economies of scale and the utilization of more efficient enrichment technologies. In addition, the paper examines policy aspects related to financing, governance, and how multinational enrichment could fit into the political and security context of the Middle East. A multinational enrichment facility managed by regional and international partners would provide more assurance that it remains peaceful and could help build confidence between Iran and its neighbors to cooperate in managing other regional security challenges. - Highlights: • Freezing Iran's nuclear program is an opportunity to launch joint initiatives in ME. • A joint uranium enrichment program in the Middle East offers economic benefits. • Other benefits include improved nuclear security and transparency in the region.

Essays on Firm Behavior in Developing Economies

Science.gov (United States)

Abeberese, Ama Baafra

effect is stronger for firms in industries with a greater scope for quality differentiation and high skill intensity. These results suggest that input tariff liberalization, by increasing access to higher-quality inputs from abroad, allows firms to produce higher-quality products for export markets.

Female Directors and Firm Performance: Evidence from UK Listed Firms

Directory of Open Access Journals (Sweden)

Pananda Pasaribu

2017-08-01

Full Text Available The impact of female directors on firm performance has lacked consistency in the previously conducted empirical studies, which may be due to the endogeneity problem, or certain characteristics (i.e. governance, industry, competition. This study examines the relationship between female directors and firm performance by addressing those problems. This study analyses all non-financial UK listed firms during the period 2004-2012 and employs several econometric models. The regression results indicate that there is little evidence that female directors have a positive and strong relationship with firm performance. But, further analysis reports that the UK’s small listed firms experience a positive significant effect, because small firms do not suffer from the problem of over-monitoring and they have more flexibility in composing their boards of directors.

Firm Culture and Leadership as Firm Performance Predictors : a Resource-Based Perspective

NARCIS (Netherlands)

Wilderom, C.P.M.; van den Berg, P.

2000-01-01

In this study, we tested part of the resource-based view of the firm by examining two 'soft' resources, firm culture and top leadership, as predictors of 'hard' or bottom-line firm performance.Transformational top leadership was found to predict firm performance directly while the link between firm

The Multinational Logistics Joint Task Force (MLJTF)

National Research Council Canada - National Science Library

Higginbotham, Matthew T

2007-01-01

In this monograph, by analyzing the UN, NATO and the US Army's evolving Modular Logistics Doctrine, the author integrates the key areas from each doctrine into a multinational logistics joint task force (MLJTF) organization...

Firm Innovation and the Ratchet Effect Among Consumer Packaged Goods Firms

OpenAIRE

Christine Moorman; Simone Wies; Natalie Mizik; Fredrika J. Spencer

2012-01-01

We consider how public firms influence their stock market valuations by timing the introduction of innovative new products. Our focus is on innovation ratchet strategy --firms timing the introduction of innovations in order to demonstrate an improvement in the number of introductions over time. We document that public firms use an innovation ratchet strategy more often than do private firms and that the stock market rewards public firms for doing so. These rewards from the stock market, howev...

COMPETITIVE STRATEGY OF A FOREIGN MULTINATIONAL IN BRAZILIAN POULTRY PRODUCTION

OpenAIRE

Denise Barros de Azevedo; Liane Aparecida Aires da Silva Rengel; Guilherme Cunha Malafaia; Karim Marini Thomé

2012-01-01

This paper addresses the question of the strategies involved in the import process of cages for laying hens, directed at the multinational enterprise distribution center. Identifies the reasons why a multinational company invests in Brazil, specifically in the city of Araraquara, São Paulo, where it is implementing a distribution center (DC). Developing the study of the strategies involved in the process, according to the main issue of the work, it took place through the exploratory analysis ...

Macroeconomic shocks and firms' labor adjustment

DEFF Research Database (Denmark)

Eriksson, Tor

2013-01-01

This article discusses some recent research which aims at producing evidence on how firms adjust their employment in response to output shocks using micro-level data and with a particular focus on the relationship between worker and job flows. The evidence presented is mainly based on Danish data...

International outsourcing over the business cycle: some intuition for Germany, the Czech Republic and Slovakia

Directory of Open Access Journals (Sweden)

Sandrine LEVASSEUR

2010-12-01

Full Text Available In this paper, we assess the extent to which multinational firms – in the first instance, the German ones – may adjust their international outsourcing over the business cycle in the Czech Republic and Slovakia. For that purpose, we have used monthly data of production for the manufacturing sector as a whole and some of its sub-sectors, since 2000 onwards. Our econometrical estimates suggest that there would be an asymmetry in the international outsourcing across the states of the economy, meaning that multinationals firms would be engaged differently in outsourcing activities, depending on whether bad or good economic times occur. Yet, such an asymmetry is found increasing over the time for German and French multinationals operating in the transport equipment sector of Slovakia. Another conclusion is that international outsourcing made by multinational firms in Slovakia may account for a portion of its large business cycles volatility.

Motivating talents in Thai and Malaysian service firms

DEFF Research Database (Denmark)

Lehmann, Sanne

2009-01-01

Talent development in Thailand and Malaysian service firms has become a prioritized human resource management practice as these societies move toward knowledge-based economies. This paper discusses talent management in the social, organizational and managerial context of firms in Thailand...... and Malaysia, and argues that such structures often counterbalance investments made in talent development. The paper concludes that new human resource management practices do not produce a difference per se. It is the mindset and attitude of various managers that makes the difference. The learning...... for practitioners is that they need to adapt existing social and organizational structures to their new human resource management practices. The paper is based mainly on qualitative interviews with human resource managers from Thai and Malaysian service firms....

Foreign Firms, Domestic Wages

DEFF Research Database (Denmark)

Malchow-Møller, Nikolaj; Markusen, James R.; Schjerning, Bertel

to the firm?s productivity. Foreign-owned firms have, on average, higher productivity in equilibrium due to entry costs, which means that low-productivity foreign firms cannot enter. Foreign firms have higher wage growth and, with some exceptions, pay higher average wages, but not when compared to similarly...... large domestic firms. The empirical implications of the model are tested on matched employer-employee data from Denmark. Consistent with the theory, we find considerable evidence of higher wages and wage growth in large and/or foreign-owned firms. These effects survive controlling for individual...... characteristics, but, as expected, are reduced significantly when controlling for unobservable firm heterogeneity. Furthermore, acquired skills in foreign-owned and large firms appear to be transferable to both subsequent wage work and self-employment...

Do family CEOs impact firm value? An empirical analysis of Indian family firms

Directory of Open Access Journals (Sweden)

Lakshmi Kalyanaraman

2015-01-01

Full Text Available We study the association between family CEO and firm value on a sample of 288 family firms during the 6-year period, from 2009 to 2014. The sample is drawn from domestic private companies belonging to non-financial services sector included in the NSE CNX 500 index. We find that family CEO has no significant association with firm value, when the family is not the majority shareholder. Family shareholding has positive relationship with firm value, but does not moderate the relationship of family CEO with firm value. We show that family CEO and firm value are negatively related when the family does not hold majority equity stake in the family firm. While family shareholding has no significant relationship with firm value, it has a negative interaction effect on the relationship between family CEO and firm value. The research findings have important implications for family firms as well as the nonfamily investors in the family firms.

Intercultural Communication Problems in Japanese Multinationals.

Science.gov (United States)

Nishiyama, Kazuo

Many large Japanese-owned multinational corporations have established successful subsidiaries in the United States, but distinct ethnic and cultural differences have caused communication problems between Japanese managers and American laborers and business people. Many top executives of the Japanese subsidiaries are sent to the United States on a…

The role of a multinational nuclear fuel fabrication supplier

International Nuclear Information System (INIS)

Beard, S.J.

1987-01-01

The author argues that international markets and multinational suppliers provide large benefits to utilities. It represents a long term commitment to the nuclear business that these companies will be able to supply nuclear technology on the long haul. The technology that is available around the world becomes available to everyone through the international markets and multinational suppliers. The increased experience base is seen as valuable in that errors that have been made or have not been made yet can be avoided through the transfer or experience. The security of supply is discussed as important to any utility that is operating a reactor

Framework and Challenges for Initiating Multinational Cooperation for the Development of a Radioactive Waste Repository

International Nuclear Information System (INIS)

2016-01-01

This publication is concerned with radioactive waste that requires geological disposal. It discusses the partnership arrangements necessary for the development of a multinational repository for disposal of this waste, but it also emphasizes that countries should not rely solely on a multinational solution and should in addition have coherent national plans for disposal (a dual track strategy). The publication focuses on multinational approaches based on the IAEA scenario for cooperation among countries in joint projects for the establishment of a shared geological repository. It describes the phased approach that would be needed, indicating the decision processes to be undertaken by partners in the multinational project, both within a national context and in the scope of the joint endeavour. It highlights a wide range of legal and institutional aspects, including the contractual obligations among partners, the economic and financial arrangements, liabilities, nuclear security, regulatory and legislative aspects, waste transportation arrangements, and social issues. It also addresses the uncertainties and risks involved in the implementation of a multinational repository

The Army in Multinational Operations

Science.gov (United States)

2010-05-01

multinational commanders may be faced with nations refusing to perform assigned tasks. The term “national red card” using a soccer simile has been coined...human rights of individuals and groups must be respected. Impartiality. Humanitarian assistance must be provided without discrimination . Relief is...given without regard to nationality, political or ideological beliefs, race, religion, sex , or ethnicity, but only on the basis of the urgency of

Danish recommendations on treatment of ankylosing spondylitis and spondyloarthritis based on multinational project initiative

DEFF Research Database (Denmark)

Pedersen, Susanne Juhl; Madsen, Ole Rintek; Erlendsson, J.

2008-01-01

INTRODUCTION: The multinational initiative "3e Initiative in Rheumatology - Multi-national Recommendations for the Management of Ankylosing Spondylitis 2006-7" served the primary purpose of providing specific recommendations for the management of ankylosing spondylitis and spondyloarthritis...

Pengaruh Family Control, Firm Size, Firm Risk, Dan Firm Life Cycle Terhadap Profitabilitas Dan Nilai Perusahaan Sektor Industri Barang Konsumsi

OpenAIRE

Servin, Servin

2014-01-01

This study aims to examine the effect of family control, firm size, firm risk, and firm lifecycle towards profitability and firm's value. Sampels were taken from 27 consumer goodscompanies, listed in Indonesia Stock Exchange, ranging from 2010 – 2012. The hypotheseswere tested using multiple regression analysis. In this study, profitability was measured byROA (Return on Asset) and firm's value was measured by Tobin's q. The result were, familycontrol and life cycle stage-growth had negative i...

Knowledge transfer and expatriation in multinational corporations

DEFF Research Database (Denmark)

Minbaeva, Dana; Michailova, Snejina

2004-01-01

Research on multinational corporation (MNC) knowledge transfer has argued continuously for the behavior of knowledge senders to be a determinant of knowledge transfer. Although the importance of disseminative capacity regarding knowledge transfer has been illustrated in numerous conceptual studies...

Enterprise risk management and firm value within China’s insurance industry

Directory of Open Access Journals (Sweden)

Qiuying Li

2014-02-01

Research purpose: The purpose of the study is to empirically examine the relationship between ERM and firm value. The study is undertaken within the context of the Chinese insurance industry. Motivation for the study: Recent attempts to link ERM with firm value have been undertaken primarily in the USA and Europe and have produced ambiguous and inconclusive findings. Research design, approach and method: Data was obtained from the China Insurance Regulatory Commission, a government body responsible for regulating insurance products and services in China. The data sample consisted of 135 insurance companies operating in China (in 2010. Regression modelling is employed to analyse the data. Main findings: The results show the relationship between ERM and firm value at first appears statistically significant within a Pearson correlation matrix but then falls below statistical significance on closer scrutiny through regression analysis. Accordingly, it is recommended that insurers in China should not look to aggressive investment in ERM as a strategy for producing quick gains in firm value. Practical/managerial implications: Risk managers should plan ERM development from a risk management maturity perspective, which equates the highest level of ERM development with ERM’s capacity to improve firm resilience to the unknown and serve as a mechanism for strategic decision-making. Contribution/value-add: The study employed return on equity as a proxy for firm value, utilising ordinary least squares regression modelling to test propositions of the relationships between variables.

INCREASING RETURNS TO SCALE, DYNAMICS OF INDUSTRIAL STRUCTURE AND SIZE DISTRIBUTION OF FIRMS

Institute of Scientific and Technical Information of China (English)

Ying FAN; Menghui LI; Zengru DI

2006-01-01

A multi-agent model is presented to discuss the market dynamics and the size distribution of firms.The model emphasizes the effects of increasing returns to scale and gives the description of the born and death of adaptive producers. The evolution of market structure and its behavior under the technological shocks are investigated. Its dynamical results are in good agreement with some empirical "stylized facts" of industrial evolution. With the diversity of demand and adaptive growth strategies of firms, the firm size in the generalized model obeys the power-law distribution. Three factors mainly determine the competitive dynamics and the skewed size distributions of firms: 1. Self-reinforcing mechanism; 2. Adaptive firm growing strategies; 3. Demand diversity or widespread heterogeneity in the technological capabilities of firms.

Entrepreneurship and the Economic Theory of the Firm

DEFF Research Database (Denmark)

Foss, Nicolai Juul; Klein, Peter G.

2004-01-01

. Because judgmentcannot be purchased on the market, the entrepreneur needs a firm — a set of alienableassets he controls — to carry out his function. We show how this notion of judgmentilluminates key themes in the modern theory of the firm (existence, boundaries,and internal organization). In our approach......, resource uses are not data, but are createdas entrepreneurs envision new ways of using assets to produce final goods. Theentrepreneur's problem is aggravated by the fact that capital assets are heterogeneous.Asset ownership allows the entrepreneur to experiment with novel combinationsof heterogeneous...

Division of Labor, Transaction Cost, Emergence of the Firm and Firm Size

OpenAIRE

Pak-Wai Liu; Xiaokai Yang

1999-01-01

In this paper a general equilibrium model is constructed to explain the emergence of firms and change in firm size by the tradeoff between economies of specialization and transaction cost. We show that firms emerge from the development of division of labor if the transaction efficiency for labor is smaller than that for intermediate goods. Given the emergence of firms, change in the average size of firms (average employment) will depend on the change in transaction efficiency for intermediate...

ERP systems in multi-national companies: support, maintenance and further development

OpenAIRE

Vymetal, Dominik; Matysek, Stanislav

2007-01-01

Multi-national companies introduce centralized or centrally administered ERP systems to cope with challenges of globalization. Introduction of such systems need careful planning. The planning should take not only the project and its deployment into consideration. Very important are the support and maintenance rules. The paper deals with rules used in case of a large multi-national company and resulting reaction of users in several subsidiaries in Central and Eastern Europe. The statistics obt...

Empresas multinacionais e desempenho comercial do Brasil: uma revisão da literatura Multinational enterprises and trade performance in Brazil: a review of the literature

Directory of Open Access Journals (Sweden)

Carlos A. Cinquetti

2008-12-01

Full Text Available Fazemos uma releitura dos estudos empíricos sobre empresas multinacionais (EMNs e comércio exterior no Brasil a partir dos modelos teóricos e empíricos de comércio internacional com firmas multinacionais. Percebe-se que aqueles estudos não examinam como características econômicas do país (Brasil condicionaram a emergência e tipo das EMNs e, assim, seus respectivos impactos sobre comércio exterior. Conseguem isolar, nas análises de impacto comercial, evidências dos serviços tecnológicos das estrangeiras, relativamente às domésticas do mesmo setor, mas não examinam se essas firmas se concentraram ou não em atividades com vantagens comparativas no país, o que seria crucial para determinar seu impacto comercial comparativo.We revisit the empirical research about multinational firms (MNFs and foreign trade in Brazil from the perspective of the theoretical models of international trade with MNFs, and their empirical tests. We observed that the cited studies did not examine how the economic characteristics of Brazil conditioned the emergence and types, as well as the corresponding impacts of the MNFs on foreign trade. The models analyzing trade impacts succeed to single out the MNF's technology service, as compared to same-sector domestic firms, but do not examine whether or not these firms concentrated in activities with comparative advantages, crucial to determine the comparative trade contribution from these firms.

COMPETITIVE STRATEGY OF A FOREIGN MULTINATIONAL IN BRAZILIAN POULTRY PRODUCTION

Directory of Open Access Journals (Sweden)

Denise Barros de Azevedo

2012-05-01

Full Text Available This paper addresses the question of the strategies involved in the import process of cages for laying hens, directed at the multinational enterprise distribution center. Identifies the reasons why a multinational company invests in Brazil, specifically in the city of Araraquara, São Paulo, where it is implementing a distribution center (DC. Developing the study of the strategies involved in the process, according to the main issue of the work, it took place through the exploratory analysis of the current logistics process of the Company, identifying the strategies adopted and the advantages of the new process. In order to achieve the objectives, the study is based on the theoretical study of Porter's five competitive forces, SWOT analysis, generic strategies adopted to achieve return on investment and, based on issues such as import , logistics, warehousing and distribution center. The survey shows that deployment of the DC, the strategy involves the insertion in the national market, specifically in São Paulo that is the biggest market of laying hens in the country to gain competitive advantage, and the multinational also adopts the strategy generic differentiation, with regard to technology and product quality. Despite the high costs of construction and maintenance of the DC, they represent a barrier to market entry, have no financial risk for the multinational enterprise, since this deployment will also increase the demand for the product, allowing the return on invested capital.

Default Risk and Firm Value of Shipping & Logistics Firms in Korea

Directory of Open Access Journals (Sweden)

Hyun Jung Nam

2017-07-01

Full Text Available As shipping and logistics industry is one of the core industries in Korea, the volume was ranked in the fifth highest in the world. However, shipping and logistics industry of Korea has suffered from default risk since Global Financial Crisis in 2008. This study examines the relationship between the default risk, as measured by the Altman K-Score, and firm value, as measured by the Return on Assets (ROA, of shipping and logistics firms in Korea and compares the impact of default risk on firm value between good financial health firms and poor financial health firms. As the trends of KScores over a ten-year periods, shipping and logistics firms in Korea register weak-to-moderate financial healthy rage. We find that Altman K-Score is significantly linked with firm value and also higher performing firms as measured by the ROA exhibit higher financial health as measured by KScore. Although nine years have been passed since Global Financial Crisis 2008, Korean shipping and logistics industry is still under the financial depression. This study proposes that systematic financial alert system of Korean shipping and logistics industry should be required to decrease default risk reflecting significance of Korean economy.

Firm-Size Wage Gaps along the Formal-Informal Divide: Theory and Evidence

OpenAIRE

Balkan, Binnur; Tumen, Semih

2015-01-01

Observationally equivalent workers are paid higher wages in larger firms. This fact is often named as the “firm-size wage gap” and is regarded as a key empirical puzzle. Using micro-level data from Turkey, we document a new stylized fact : the firm-size wage gap is more pronounced for informal (unregistered) jobs than for formal (registered) jobs. To explain this fact, we develop a two-stage wage-posting game with market imperfections and segmented markets, the solution to which produces wage...

Employment Practices of Multinational Companies in Denmark

DEFF Research Database (Denmark)

Navrbjerg, Steen Erik; Minbaeva, Dana

Globaliseringen er en udfordring for såvel ledere som ansatte i multinationale selskaber. En analyse af ledere og medarbejderes relationer er afgørende for at forstå ledelse, forretningsforhold og arbejdsmarkedsrelationer i Danmark. Tilstedeværelsen af multinationale selskaber (Multinational Comp...

Shaping Regional Strategies of Multinational Corporations

DEFF Research Database (Denmark)

Gilbert, Dirk Ulrich; Heinicke, Patrick; Rasche, Andreas

This paper examines the factors that drive the success of multinational corporations (MNCs) in their pursuit of regional strategies. We develop a comprehensive regional success factor model to investigate the effects of regional management autonomy and regional product/service adaption...... management autonomy and regional product/service adaption are higly contingent upon contextual influences on MNCs....

Response : Board Composition and Firm Performance : Evidence from Bangladesh – A Sceptical View

Directory of Open Access Journals (Sweden)

Khorshed Chowdhury

2010-12-01

Full Text Available I have read the above paper with keen interest. The key finding of this paper is interesting: the appointment ofindependent directors has no perceptible influence on a firm’s economic performance in Bangladesh. Theconclusion was derived from a sample of 274 firm-years. The implication of this finding is also very significantfor regulators in Bangladesh and elsewhere ‘in their quest for harmonization of international corporategovernance practices’ Rashid et al. (2010, p76. This paper also complements the results of an earlier paperon an allied topic by Bhuiyan and Biswas (2007 where they found that (p22 ‘corporate governancedisclosure in Bangladesh is significantly influenced by local ownership, the SEC notification, and size of thecompany but belonging to financial or non-financial institution company, multinational company, age andsize of the board of directors do not have significant impact on corporate governance disclosure. So stepsshould be taken for mandatory compliance of the SEC notification and for reducing the gap between largeand small firms’ disclosure practices’.

Thermodynamics of firms' growth

Science.gov (United States)

Zambrano, Eduardo; Hernando, Alberto; Hernando, Ricardo; Plastino, Angelo

2015-01-01

The distribution of firms' growth and firms' sizes is a topic under intense scrutiny. In this paper, we show that a thermodynamic model based on the maximum entropy principle, with dynamical prior information, can be constructed that adequately describes the dynamics and distribution of firms' growth. Our theoretical framework is tested against a comprehensive database of Spanish firms, which covers, to a very large extent, Spain's economic activity, with a total of 1 155 142 firms evolving along a full decade. We show that the empirical exponent of Pareto's law, a rule often observed in the rank distribution of large-size firms, is explained by the capacity of economic system for creating/destroying firms, and that can be used to measure the health of a capitalist-based economy. Indeed, our model predicts that when the exponent is larger than 1, creation of firms is favoured; when it is smaller than 1, destruction of firms is favoured instead; and when it equals 1 (matching Zipf's law), the system is in a full macroeconomic equilibrium, entailing ‘free’ creation and/or destruction of firms. For medium and smaller firm sizes, the dynamical regime changes, the whole distribution can no longer be fitted to a single simple analytical form and numerical prediction is required. Our model constitutes the basis for a full predictive framework regarding the economic evolution of an ensemble of firms. Such a structure can be potentially used to develop simulations and test hypothetical scenarios, such as economic crisis or the response to specific policy measures. PMID:26510828

Procurement with specialized firms

NARCIS (Netherlands)

Boone, Jan; Schottmuller, C.

2016-01-01

We analyze optimal procurement mechanisms when firms are specialized. The procurement agency has incomplete information concerning the firms' cost functions and values high quality as well as low price. Lower type firms are cheaper (more expensive) than higher type firms when providing low (high)

Effects ok ikea's entry into a furniture production cluster

Directory of Open Access Journals (Sweden)

Vasco Eiriz

2016-04-01

Full Text Available The entry of a multinational into a cluster, a geographic agglomeration in a given place or region of predominantly small and medium enterprises specialized in a given industry or related industries, impacts the incumbent in the cluster. Aiming to identify the main effects of a multinational entry on the firms’ strategy in a cluster, it was analyzed the entry of IKEA, a Swedish multinational, into the cluster of furniture production in Paços de Ferreira and Paredes, in Portugal. In this study, the data collection technique to access primary data was a survey. The sample has small enterprises, which is similar to the structure of firms in the studied cluster. Results show that more than half the sample thinks that the entry of the multinational had not affected them. However, the firms that acknowledge a significant impact, assess that impact as negative. The competitiveness factors that have improved more significantly after IKEA’s entry were new product development and exporting strategies. The main responses of incumbent firms to the multinational entry were internationalization and the development of generic strategies of differentiation and focus based on differentiation.

Risk Management Practices of Multinational and indigenous ...

African Journals Online (AJOL)

Construction projects' high uncertainty rates make them unattractive to non-risk takers. Construction companies are therefore necessarily risk takers, albeit, to varying degrees. This study made an inquiry into the risk management (RM) practices of multinational and indigenous construction companies (MCCs and ICCs, ...

Centralized vs. De-centralized Multinationals and Taxes

DEFF Research Database (Denmark)

Nielsen, Søren Bo; Raimondos-Møller, Pascalis; Schjelderup, Guttorm

2005-01-01

The paper examines how country tax differences affect a multinational enterprise's choice to centralize or de-centralize its decision structure. Within a simple model that emphasizes the multiple conflicting roles of transfer prices in MNEs - here, as a strategic pre-commitment device and a tax...

Founder Control, Ownership Structure and Firm Value: Evidence from Entrepreneurial Listed Firms in China

Directory of Open Access Journals (Sweden)

Lijun Xia

2008-06-01

Full Text Available In emerging markets, the deviation between the ultimate controlling shareholders' voting rights and their cash flow rights (hereafter “DVC” in the listed firms is quite prevalent. DVC could be introduced due to the ultimate controlling shareholders' opportunistic incentives, as well as by their incentives to improve firm efficiency. This study uses 229 listed firms ultimately controlled by individuals or families (hereafter “entrepreneurial firms” for 2004 in China, to investigate the effect of DVC on firm value and to determine whether it is different between founder and non-founder controlled firms. We find that DVC has a positive effect on firm value for founder controlled firms. This result implies that investors believe that their interests are better protected by founder controlled firms than by non-founder controlled firms.

Firm Traits and Web Based Disclosures in Top Nigerian Firms

Directory of Open Access Journals (Sweden)

Bello Ayuba

2016-02-01

Full Text Available The use of the internet as a medium of dissemination of information to stakeholders is increasingly gaining grounds. This study extends existing literature on web disclosures by investigating the characteristics that predict the extent of web-based disclosures. In this study, corporate websites of top Nigerian firms are used as sources of data, while a regression analysis is employed to examine the extent of prediction. Results indicate that the firm size and industry type are significant determinants of web disclosures. However, other firm traits such as ownership dispersion and financial performance do not significantly explain the extent of internet disclosures. The study recommends that a regulatory template for corporate web disclosures be put in place by government regardless of the size or industry classification of the firm. This is with a view to considerably reduce agency conflicts arising from information asymmetry in publicly listed firms in Nigeria.

Environmental performance, profitability, asset utilization, debt monitoring and firm value

Science.gov (United States)

Bukit, R. Br; Haryanto, B.; Ginting, P.

2018-02-01

The growing issue on firm value shows that firm value is not only determined by the firm ability to increase financial profit, but also by the company's concern in maintaining the environmental condition. The industrial development produces waste that pollutes the environment that has potential to serious impact on the next life. In addition to provide financial benefits, companies are increasingly facing pressure to be socially responsible for the survival of the company. However, past findings demonstrate that the effect of environmental performance, profitability, and asset utilization to the firm’s value are still unclear. This study aims to test whether environmental performance, firm profitability and asset utilization can effectively enhance firm value in two different conditions: intensive debt monitoring and less intensive debt monitoring. Sample of companies is taken from the list of Indonesia Stock Exchange during the period of 2013 to 2015. Using multiple regression analysis, discloses that: in intensive monitoring, managers tend to have high firm value when company has high environmental performance and or high profitability and high asset utilization. Monitoring system needs to be intensified especially for companies with the above characteristics.

Corporate Social Responsibility of Multinational Oil Corporations to ...

African Journals Online (AJOL)

Corporate Social Responsibility of Multinational Oil Corporations to Host ... Exxon Mobil and Elf oil Nigeria Limited within their corporate-community relations strategy in the ... The paper concludes by exploring the implications for partnerships' ...

Multinational surveys for monitoring eHealth policy implementations

DEFF Research Database (Denmark)

Gilstad, Heidi; Faxvaag, Arild; Hyppönen, Hannele

2014-01-01

Development of multinational variables for monitoring eHealth policy implementations is a complex task and requires multidisciplinary, knowledgebased international collaboration. Experts in an interdisciplinary workshop identified useful data and pitfalls for comparative variable development...

On price equilibrium with multi-product firms

NARCIS (Netherlands)

Z. Sándor (Zsolt)

2004-01-01

textabstractIn this paper we provide a result that shows existence and uniqueness of Nash equilibrium in cases in which existent methods are problematic to apply. We employ this result to the model with simple logit demand, and show existence and uniqueness of price equilibrium when firms produce

Functional Upgrading and Value Capture of Multinational Subsidiaries

DEFF Research Database (Denmark)

Burger, Anže; Jindra, Björn; Marek, Philipp

2018-01-01

survey-based business function indicators with longitudinal accounting data for a representative sample of multinational subsidiaries located in six Central and Eastern European countries (CEECs), we assess the impact of functional upgrading on foreign subsidiaries' value capture. The results provide......This paper investigates the relationship between the value capture of multinational subsidiaries and functional upgrading, which is defined as a diversification of employment from primary business functions to higher value adding activities such as ICT, R&D, marketing or logistics. By combining...... robust evidence that the breadth as well as the scope of functional upgrading induces an upward shift of subsidiaries' value added. The effect of functional upgrading is stronger in the earlier phases after entry of the foreign investor, while the long-term growth trend remains unaffected....

Firm size and taxes

OpenAIRE

Chongvilaivan, Aekapol; Jinjarak, Yothin

2010-01-01

The scale dependence in firm growth (smaller firms grow faster) is systematically reflected in the size distribution. This paper studies whether taxes affect the equilibrium firm size distribution in a cross-country context. The main finding is that the empirical association between firm growth and corporate tax (VAT) is positive (negative), with notable differences in the response of manufacturing firms and that of the others. We draw implications for recent debate on the impact of taxes and...

Cyclicality and Firm Size in Private Firm Defaults

DEFF Research Database (Denmark)

Jensen, Thais Lærkholm; Lando, David; Medhat, Mamdouh

2017-01-01

The Basel II/III and CRD IV Accords reduce capital charges on bank loans to smaller firms by assuming that the default probabilities of smaller firms are less sensitive to macroeconomic cycles. We test this assumption in a default intensity framework using a large sample of bank loans to private...

Multinational banks and development finance

OpenAIRE

Weller, Christian E.; Scher, Mark J.

1999-01-01

Financial market recommendations for less industrialized economies, particularly in the wake of the recent financial crises, have included a push for more international financial competition. The entry of multinational banks (MNBs) into developing economies is supposed to create more market discipline for domestic banks, thus making them more efficient, and enhancing financial stability. Using data from the BIS and the IMF, we look at the determinants of MNB presence, at MNB activities, and t...

Understanding a Firm in a Holonic Conceptual Framework

DEFF Research Database (Denmark)

Jensen, Povl Erik; Jacobsen, Peter

2005-01-01

In history, production has been organized in mainly two different ways: Hierarchical or heterarchical (as network and/or modularized). However, a third way has been introduced by using the concept a holonic system of production (Brussel, 1999). This concept is introduced and a model of a holonic...... possible unit of production, which is able to produce on its own for a period of time, is self-regulating/autonomous and can communicate with other holons. The communication between holons in and outside a firm, ex stakeholders, is shown to be a very fruitful way to understand the existence of firms...

Expatriate training and support: How effective are multinational companies’ practices in Cyprus?

OpenAIRE

Hadjiyianni, Chara

2009-01-01

Most of the literature demonstrates that multinational companies do not adequately train and support expatriates prior to and during overseas assignments. If expatriates do not sufficiently adjust to host-country conditions, this can have detrimental effects on expatriate managers themselves, the assignment and the sending organisation. This study examines the effectiveness of expatriate training and support practices of multinational companies in Cyprus. The dissertation builds on three them...

Influence of cultural mechanisms on horizontal inter-firm collaborations

Directory of Open Access Journals (Sweden)

José Ramón Vilana

2010-06-01

Full Text Available The evolution of organizations that work in multinational environments has considerably altered their production strategies. One of the consequences has been the appearance of Horizontal Inter-firm Collaborations (HICs, which include all kinds of enterprises and production centres and establish a new type of horizontal collaborations and relations between independent companies or even competitors who establish occasional collaborations on projects they could not take on individually. HICs are dynamically changing organizations formed by Original Equipment Manufacturers (OEMs, Contract Manufacturers (CMs, turn-key and component suppliers, R+D centres and distributors. The dynamic relations that exist within the HICs allow them a very permeable organization easy to connect and disconnect from one to each other as well as to choose a set of partners with specific attributes. The result is a highly flexible system characterized by low barriers to entry and exit, geographic flexibility, low costs, rapid technological diffusion, high diversification through contract manufacturers and exceptional economies of scale. This study of organizational culture at the network level includes aspects such as cultural similarity among its actors, social embeddedness, tacit knowledge transfer or the importance of trust atinter-firm collaborations. The presence, under a systemic perspective, of homogeneous cultural values and practices in which collaboration actors can be identified may strengthen the group membership or establish a social network that underlies the own HIC and facilitates interactions among its members. The feasibility of this approach would facilitate the formation of new HICsby establishing, ex ante, a cultural prescriptive model at the network level. Finally, to validate the proposed model, the case methodology have been applied to an example within the aeronautical industry that has been one of the most successful relationships within HICs, the

Female Directors and Firm Performance: Evidence from UK Listed Firms

OpenAIRE

Pasaribu, Pananda

2017-01-01

The impact of female directors on firm performance has lacked consistency in the previously conducted empirical studies, which may be due to the endogeneity problem, or certain characteristics (i.e. governance, industry, competition). This study examines the relationship between female directors and firm performance by addressing those problems. This study analyses all non-financial UK listed firms during the period 2004-2012 and employs several econometric models. The regression results indi...

Nonlinear Pricing to Produce Information

OpenAIRE

David J. Braden; Shmuel S. Oren

1994-01-01

We investigate the firm's dynamic nonlinear pricing problem when facing consumers whose tastes vary according to a scalar index. We relax the standard assumption that the firm knows the distribution of this index. In general the firm should determine its marginal price schedule as if it were myopic, and produce information by lowering the price schedule; “bunching” consumers at positive purchase levels should be avoided. As a special case we also consider a market characterized by homogeneous...

Leverage, Investment, and Firm Growth

OpenAIRE

Larry Lang; Eli Ofek; Rene M. Stulz

1995-01-01

We show that there is a negative relation between leverage and future growth at the firm level and, for diversified firms, at the segment level. Further, this negative relation between leverage and growth holds for firms with low Tobin's q, but not for high-q firms or firms in high-q industries. Therefore, leverage does not reduce growth for firms known to have good investment opportunities, but is negatively related to growth for firms whose growth opportunities are either not recognized by ...

'A question of balance': addressing the public health impacts of multinational enterprises in the OECD Guidelines for Multinational Enterprises.

Science.gov (United States)

Yang, Joshua S; McDaniel, Patricia A; Malone, Ruth E

2012-01-01

The global community is beginning to address non-communicable diseases, but how to increase the accountability of multinational enterprises (MNEs) for the health impacts of their products and practices remains unclear. We examine the Organization for Economic Cooperation and Development's (OECD) efforts to do so through voluntary MNE guidelines. We developed a historical case study of how the OECD Guidelines for Multinational Enterprises were developed and revised from 1973 to 2000 through an analysis of publicly available archived OECD and tobacco industry documents. The first edition of the Guidelines was a purely economic instrument. Outside pressures and a desire to ward off more stringent regulatory efforts resulted in the addition over time of guidelines related to the environment, consumer interests, sustainable development and human rights. Despite their voluntary nature, the Guidelines can play a role in efforts to help balance the interests of MNEs and public health by providing a starting point for efforts to create binding provisions addressing MNEs' contributions to disease burden or disease reduction.

US/UK Sensor-To-Shooter Multinational C4 Interoperability Study Force-On-Force Effectiveness Methodology

National Research Council Canada - National Science Library

Bailey, Timothy J

2000-01-01

.... This methodology has been successfully applied to Army, joint, and multinational studies. The latest of these studies, the US/UK Sensor-To-Shooter Multinational C4 Interoperability Study Force-On-Force Analysis, was an effort to measure the value...

Determinants of reverse knowledge transfer for emerging market multinationals: the role of complexity, autonomy and embeddedness

Directory of Open Access Journals (Sweden)

Franciane Freitas Silveira

Full Text Available Abstract Subsidiaries conduct innovation activities in foreign markets either to capture valuable knowledge that is necessary to adapt their products to local markets or to create valuable knowledge for headquarters. For emerging market multinationals, most studies have overlooked the determinants of successful reverse knowledge transfer from subsidiaries located in emerging and developed markets. This paper analyzed the responses of a survey administered to 78 Brazilian multinationals that own subsidiaries in developed and emerging markets. We found that knowledge complexity developed at the subsidiary, its autonomy and embeddedness in the foreign market determine the successful reverse knowledge transfer to headquarters of emerging market multinationals. This paper contributes to previous studies of reverse knowledge transfer by underlying the main drivers for emerging market multinationals.

Comparisons of hypertension-related costs from multinational clinical studies.

Science.gov (United States)

Mullins, C Daniel; Sikirica, Mirko; Seneviratne, Viran; Ahn, Jeonghoon; Akhras, Kasem S

2004-01-01

This study identifies and compares the individual cost components of hospital and ambulatory services that manage the care of hypertensive patients in eight countries: the US, the UK, France, Spain, Germany, Italy, Canada and Australia. Hypertension-related costs are classified according to four major cardiovascular events: (i) acute myocardial infarction; (ii) congestive heart failure; (iii) stroke; and (iv) renal failure, which was subdivided into renal failure treated by dialysis and renal failure treated by kidney transplantation. To make cross-country costs comparisons, we used the DRG codes used in the US and DRG-like codes from each country. US cost information was obtained from hypertension data available from the literature and health economics researchers. For costs in other countries, we consulted with national health economics experts in each country, used analyses by the Research Triangle Institute, and performed Medline and international literature searches. When available, we obtained information from the countries' public and private nationally representative data sources. For cross-country currency adjustments, all currencies were converted using the Purchasing Power Parities from the Organisation for Economic Cooperation and Development, and then converted into inflation-adjusted year 2000 US dollars. There exists considerable variation in hypertension-related costs from multinational clinical studies. This study documents that costs are generally higher in the US than in other countries; however, this is not always true. In particular, costs of treating heart failure in France and the costs of renal failure without transplantation in Germany and the UK are relatively high. While analysing multinational hypertensive cost data, this study also addresses the impact of cross-country cost variations on cost analyses. During the last decade, drug-development researchers have drawn extensively upon multinational trials to resolve enrollment problems and

Managing Human Resources in a Multinational Context

Science.gov (United States)

Sumetzberger, Walter

2005-01-01

Purpose: To develop more sensitivity for different patterns of human resource management in multinational companies. Design/methodology/approach: Systemic approach; the concepts and models are based on the evaluation of consulting projects in the field of human resource management. Findings: A concept of four typical varieties of human resource…

Multinational Subsidiary Performance: Evidence from the Ghanaian ...

African Journals Online (AJOL)

The study seeks to ascertain the factors that contribute to the performance of multinational subsidiary banks in Ghana. Using an unbalanced random effects panel regression estimation following the Hausman specification test, the study found that increasing bank size does not necessarily lead to performance. As it stands ...

Model of the naval base logistic interoperability within the multinational operations

Directory of Open Access Journals (Sweden)

Bohdan Pac

2011-12-01

Full Text Available The paper concerns the model of the naval base logistics interoperability within the multinational operations conducted at sea by NATO or EU nations. The model includes the set of logistic requirements that NATO and EU expect from the contributing nations within the area of the logistic support provided to the forces operating out of the home bases. Model may reflect the scheme configuration, the set of requirements and its mathematical description for the naval base supporting multinational forces within maritime operations.

Performance of Patenting Firms

DEFF Research Database (Denmark)

Madsen, Erik Strøjer; Smith, Valdemar; Nielsen, Anders Østergaard

2000-01-01

Most countries focus on industries with high technology and the governments grant subsidies to innovating firms. However, there has been remarkable few studies of the performance of innovative firms or industries. This study examines the performance of patent active firms compared to the non-patenting...... firms within the manufacturing sector in Denmark. Performance is measured both by growth in employment as well as in the return on equity and profit share in turnover. The results suggest that differences in performance of patenting and non-patenting firms are very small, which questions the political...

When Intra-Firm and Inter-Firm Collaborations Co-Occur

DEFF Research Database (Denmark)

Schleimer, Stephanie Christine; Sculman, Arthur D.

2011-01-01

There is evidence that intra-firm collaboration and inter-firm collaboration are important for new service development (NSD) and new product development (NPD) success. However, evidence of the contributions of each to innovative outcomes is inconsistent. This inconsistency is associated with the ...

Management Control Systems in Subsidiaries of Multinationals in the Emerging Market of Central Eastern Europe

NARCIS (Netherlands)

Gusc, J.S.; Bremmers, H.J.; Omta, S.W.F.

2005-01-01

Using transaction cost theory and the theory of multinational enterprise, this study examines the extent of the degree to which management of multinational companies can control over its subsidiaries' configuration and coordination abilities. Empirical results showed that the subsidiaries enjoyed a

The Impact of Headquarter and Subsidiary Locations on Multinationals' Effective Tax Rates

OpenAIRE

Kevin S. Markle; Douglas A. Shackelford

2013-01-01

We examine effective tax rates (ETRs) for 9,022 multinationals from 87 countries from 2006 to 2011. We find that, despite extensive investments in international tax avoidance, multinationals headquartered in Japan, the United States, and some high-tax European countries continue to face substantially higher worldwide taxes than their counterparts in havens and other less heavily taxed locations. Other findings include: (1) effective tax rates remained steady over the investigation period; (2)...

Human rights and multinational firm returns

NARCIS (Netherlands)

Dag, Nihat; Eije, Henk von; Pennink, Bartjan

1998-01-01

Corporate social responsibility receives increased attention in economic analysis and research, but the knowledge of the effect of ethical issues on company performance is still in its infancy. In this paper we attempt to measure the impact of the human rights issue with an event study. In

Global environment and factors affecting the salary of the CEO (chief executive officer) of a goods producing firm: an Econometric modeling approach using STATA

OpenAIRE

Aziz, Zohaib; Muhammad, Ahsanuddin; Hussain, Ghulam

2010-01-01

The flattening of the world thanks to the cluster of profound socio-economic and politico-cultural changes has created unprecedented challenges for organizational leadership and management. The fast evolving global world of ours where challenges have to be continually met requires timely decision taken by CEOs’ (Chief Executive Officers) who shape and give direction to world politics and economic order. In the light of this we have studied the decisions taken by CEOs’ of goods producing firms...

The whole relationship between environmental variables and firm performance: competitive advantage and firm resources as mediator variables.

Science.gov (United States)

López-Gamero, María D; Molina-Azorín, José F; Claver-Cortés, Enrique

2009-07-01

The examination of the possible direct link between environmental protection and firm performance in the literature has generally produced mixed results. The present paper contributes to the literature by using the resource-based view as a mediating process in this relationship. The study specifically tests whether or not the resource-based view of the firm mediates the positive relationships of proactive environmental management and improved environmental performance with competitive advantage, which also has consequences for financial performance. We also check the possible link between the adoption of a pioneering approach and good environmental management practices. Our findings support that early investment timing and intensity in environmental issues impact on the adoption of a proactive environmental management, which in turn helps to improve environmental performance. The findings also show that a firm's resources and competitive advantage act as mediator variables for a positive relationship between environmental protection and financial performance. This contribution is original because the present paper develops a comprehensive whole picture of this path process, which has previously only been partially discussed in the literature. In addition, this study clarifies a relevant point in the literature, namely that the effect of environmental protection on firm performance is not direct and can vary depending on the sector considered. Whereas competitive advantage in relation to costs influences financial performance in the IPPC law sector, the relevant influence in the hotel sector comes from competitive advantage through differentiation.

ARE SMALL-FIRM CLUSTERS EMERGENT PHENOMENA? EVIDENCE FROM ZIMBABWE’S SMALL FURNITURE- MANUFACTURING FIRMS

Directory of Open Access Journals (Sweden)

Godfrey MUPONDA

2014-07-01

Full Text Available The purpose of this study was to explore the reasons behind the rapid growth and apparent dynamism of Zimbabwe’s small-firm industrial clusters. The hypothesis behind the study was that these small-firm clusters are emergent phenomena. The study analysed the capital utilisation techniques of small firms located in a large industrial cluster in order to determine the factors that lead to the collective efficiency of such firms. The study found that, in comparison with large, stock exchange-listed firms, the cluster environment enables the small firm to operate from a relatively small capital base and also to use its capital more efficiently in creating revenues and profits. The individual firm does not have to invest its capital in a large assets base as this is done by a specialised group of firms within the cluster. Thus, the cluster has the characteristics of an emergent phenomenon.

Human factors and technology environment in multinational project: problems and solutions

International Nuclear Information System (INIS)

Jardi Besa, X.; Munoz Cervantes, A.

2012-01-01

At the onset of nuclear projects in Spain, there was an import of nuclear technology. In a second phase, there was a transfer of technology. Subsequently, there was an adaptation of the technology. In this evolution, comparable to that of other countries, were involved several countries, overcoming the difficulties of human factors involved. The current nuclear projects multinationals have a new difficulty: the different industrial technological environments. This paper will address the organizational challenges of multinational engineering projects, in the type of project and the human factors of the participating companies.

A Firm-Specific Analysis of the Exchange-Rate Exposure of Dutch Firms

NARCIS (Netherlands)

A. de Jong (Abe); J. Ligterink; V. Macrae

2002-01-01

textabstractWe examine the relationship between exchange-rate changes and stock returns for a sample of Dutch firms over 1994-1998. We find that over 50% of the firms are significantly exposed to exchange-rate risk. Furthermore, all firms with significant exchange-rate exposure benefit from a

Small Nations in Multinational Operations and Armenian Perspectives

Science.gov (United States)

2014-12-12

assigned in different positions gain experience in working in multinational and multicultural environments. 25 Megan Hart, “Kansas National Guard...comes from various internet publications and printed materials provided by the online Combined Arms Research Library . Although there were not many

Essays on Family Firms

OpenAIRE

Zhou, Haoyong

2012-01-01

The dissertation examines corporate performance and capital structure of family firms, contributing to the limited empirical research on family firms. Family firms are prevalent in national economies all over the world. It is the prevalence that makes family firms receive increasing attentions from academia. The dissertation consists of an introduction and three chapters. Each chapter is an independent paper. The first chapter is a joint work with Professor Morten Bennedsen and...

Global Sourcing and Firm Selection

DEFF Research Database (Denmark)

Kohler, Wilhelm; Smolka, Marcel

2014-01-01

We analyze the sourcing strategies of firms active in the Spanish manufacturing sector. We show that firms that select strategies of vertical integration and of foreign sourcing ex post tend to have been more productive, ex ante, than other firms.......We analyze the sourcing strategies of firms active in the Spanish manufacturing sector. We show that firms that select strategies of vertical integration and of foreign sourcing ex post tend to have been more productive, ex ante, than other firms....

Democratizing the Multinational Corporation (MNC)

DEFF Research Database (Denmark)

Andersen, Torben Juul; Hallin, Carina Antonia

2017-01-01

insights that can be used strategically if management at headquarters is cognizant about its existence and able to collect this information. We introduce the notion of democratizing the strategic engagement of managers and employees at all levels and locations of the multinational corporation (MNC......) as an essential leadership paradigm. The implied interaction between slow central analytical reasoning at headquarters and updated insights from fast decentralized initiatives in local subsidiaries constitutes an effective dynamic responsive mechanism. This dynamic interaction implies that critical strategic...

Whom do new firms hire?

DEFF Research Database (Denmark)

Dahl, Michael S.; Klepper, Steven

2015-01-01

Using the matched employer-employee data set for Denmark and information on the founders of new firms, we analyze the hiring choices of all new firms that entered from 2003 to 2010. We develop a theoretical model in which the quality of a firm’s employees determines its average cost, a firm......, and firm size influence the wages firms pay to their early hires. We find that beginning with the time of entry, larger firms consistently pay higher wages to their new hires. These are firms with greater survival prospects at the time of entry based on the pre-entry backgrounds of their founders...

Mentoring and turnover intentions in public accounting firms: a research note

OpenAIRE

Matthew Hall; David Smith

2009-01-01

Turnover in public accounting firms is a critically important issue as firms seek to retain quality accounting personnel in the face of skilled labour shortages. Mentoring is one initiative that has been suggested as a means of reducing the high costs associated with employee turnover. However, prior accounting research examining the association between mentoring and turnover intentions has produced mixed results, which may be due, at least in part, to difficulties in operationalizing the men...

Do Private Firms Outperform SOE Firms after Going Public in China Given their Different Governance Characteristics?

Directory of Open Access Journals (Sweden)

Shenghui Tong

2013-06-01

Full Text Available This study examines the characteristics of board structure that affect Chinese public firm’s financial performance. Using a sample of 871 firms with 699 observations of previously private firms and 1,914 observations of previously state-owned enterprise (SOE firms, we investigate the differences in corporate governance between publicly listed firms that used to be pure private firms before going public and listed firms that used to be SOEs before their initial public offerings (IPOs. Our main finding is that previously private firms outperform previously SOE firms in China after IPOs. In the wake of becoming listed firms, previously SOE firms might be faced with difficulties adjusting to professional business practices to build and extend competitive advantages. In addition, favorable policies and assistance from the government to the SOE firms might have triggered complacency, especially in early years after getting listed. On the other hand, professional savvy and acumen, combined with efficiency and favorable business climate created by the government have probably led the previously private firms to improve their values stronger and faster.

EXPLAINING CORPORATE STRUCTURE:THE MD MATRIX, PRODUCT DIFFERENTIATION AND SIZE OF MARKET

OpenAIRE

Alessandro Sembenelli; Laura Rondi; Stephen W. Davies

1995-01-01

Conventional explanations of diversification and multinationality both point to the existence of intangible assets as a driving force. Using a new database of leading EU firms in 100 NACE 3-digit industries, we devise a classificatory scheme which allows us to analyze multinationality and diversification jointly. We find that product differentiation and home market primary industry size constraints impact differently on different types of diversified firms. For instance, it appears that the c...

Firm-specific factors and financial performance of firms in the Czech Republic

Directory of Open Access Journals (Sweden)

Pathirawasam Chandrapala

2013-01-01

Full Text Available The objective of this study is to investigate the role of internal factors in generating financial performance of firms in the Czech Republic. The paper examines the impact of firm specific factors on company financial performance of 974 firms in the Czech Republic over the period 2005 to 2008, using data in the Albertina database. Pooled and panel cross-sectional time series techniques are used for the data analysis. Return on Assets (ROA is the dependent variable of the model and eight firm specific factors are introduced as the explanatory variables. Using Return on Assets as the dependent variable, it is established that the firm size, sales growth and capital turnover are having significant positive impact on financial performance of firms. At the same time, debt ratio and inventory reflect significant negative impact on financial performance of firms. Overall explanatory powers of the two models are low and further research is necessary to increase the statistical power of the model. The results from the present study may be very encouraging and useful for managers as well as investors to plan investment and operational activities to achieve profitability objectives more efficiently and effectively. The findings have important managerial implications.

APPROACHING COMPETITIVENESS AT THE LEVEL OF MULTINATIONAL COMPANIES

Directory of Open Access Journals (Sweden)

DORINA NIŢĂ

2011-01-01

Full Text Available The competitiveness of multinational corporations is a particularly complex concept due to the fact that at present this type of company represents economic entities which continue to develop in the context of the process of internationalization and the transition to the use of global strategies. Competitiveness is a competition between corporations for new positions on the markets. With regard to the competitiveness of multinational corporations, the most accurate description was given by Gilbert Abraham Frois who believed these businesses must think globally, but act locally. In the competitive global market, emphasis is laid on plus – the value given by the competitiveness of the human element, taking into account the fact that the human resource doesn’t run out, and its value doesn’t decrease over time, but on the contrary, its value increases on condition that it is rigorously managed and developed.

Institutional arrangements for a multinational reprocessing plant

International Nuclear Information System (INIS)

Smith, C.B.; Chayes, A.

1977-01-01

The paper lists some of the major issues that would have to be faced in negotiating the institutional structure of a multinational nuclear-fuel center. None of the organization problems is inherently insoluble. Difficulties are exacerbated by the large number of questions, their interrelations, and the complexity of the assumed structure. However, the assumptions posed the most difficult case. A reduction in membership and in the ambitious scope of the enterprise, at least at the outset, would greatly reduce the complexity of the organizational structure and the difficulty of negotiations. The analysis suggests that multinational fuel-cycle activities should start out more modestly, perhaps only with joint appraisal by a relatively few countries with existing geographic or economic connections. If operations are contemplated it would seem that the first step should be joint arrangements for spent-fuel storage, with the decision to go forward to more elaborate activities deferred. This approach would not only be simpler and permit the parties to gain experience working together, but it would have the virtue of delaying reprocessing until it was clear that there was a real need for it. Even on this reduced basis, the negotiating task would not be easy. The key, of course, to overcoming difficult technical problems of institutional structure is politial will--the genuine commitment of the participants to the aims and values of the enterprise. This suggests that any effort to cajole--not to say coerce--participation in a multinational fuel-cycle enterprise would be wholly misplaced. A reluctant partner would have available an infinitude of points and issues to create plausible, irritating, and ultimately defeating delay and complication in the negotiating process. Only assent freely given in the perception that the enterprise really serves the interest of the countries involved will be able to surmount the many institutional problems that will inevitably arise

The Relationship between Offshoring Strategies and Firm Performance: Impact of innovation, absorptive capacity and firm size

NARCIS (Netherlands)

M.W. Roza-van Vuren (Marja)

2011-01-01

textabstractHow do offshoring strategies impact firm performance? And how are innovation, absorptive capacity and firm size influencing this relationship? This research investigates how firms of varying size, well-established firms and growing firms may profit from relocating business activities to

Responsible tax as corporate social responsibility: the case of multinational enterprises and effective tax in India

NARCIS (Netherlands)

Muller, A.; Kolk, A.

2015-01-01

Anecdotal evidence often suggests that multinational enterprises (MNEs) operating in developing countries "exploit their multinationality" to avoid paying taxes to host governments. This article explores the concept of "responsible tax" as a corporate social responsibility (CSR) issue for MNEs,

Developments in commercially produced microbials at Biochem Products

Science.gov (United States)

John Lublinkhof; Douglas H. Ross

1985-01-01

Biochem Products is part of a large industrial and scientific family - the Solvay Group. Solvay, headquartered in Brussels, Belgium is a multinational company with 46,000 employees worldwide. In the U.S., our working partners include a large polymer manufacturer, a peroxygen producer and a leading poultry and animal health products company. Biochem Products is a...

Serving low-income markets : Rethinking multinational corporations' strategies

NARCIS (Netherlands)

Sadreghazi, S.; Duijsters, G.M.; Dolfsma, W.; Duysters, G.M.; Costa, I.

2009-01-01

The global economy is changing rapidly and multinational corporations (MNCs) are at the forefront of this transformation. This book provides novel and profound analyses of how MNCs and emerging economies are related, and how this relationship affects the dynamics of the global economy. In

Development of Barnwell as a multinational demonstration facility

International Nuclear Information System (INIS)

Colby, L.J. Jr.

1977-01-01

The author takes an existing private business venture (Barnwell) with its assets of facilities, personnel, technology and domestic business commitments (past, present, and future) and develops a role for it which will be compatible with the advancement of multinational reprocessing facilities under international control

Firm-Specific Learning and the Nature of the Firm

DEFF Research Database (Denmark)

Knudsen, Thorbjørn

2007-01-01

that a conjoint research program, encompassing both transaction costs and capabilities, must be developed and tested empirically. Cet article discute les limites d'une explication de l'existence de la firme fondée exclusivement sur les coûts de transaction en indiquant quelques facteurs additionnels susceptibles...... d'intervenir. Un modèle heuristique simple montre que les effets d'apprentissage spécifiques à la firme peuvent surmonter les coûts de surveillance des employés et expliquer l'existence de la firme même en l'absence de coûts de transaction liés au mode d'organisation de marché. Une comparaison de l......'importance relative des explications fondées sur les coûts de transaction et celles fondées sur les compétences en ce qui concerne l'existence de la firme montre qu'il n'y a aucune raison a priori de supposer la suprématie d'un type d'explication à l'autre. Nous soutenons qu'un programme de recherche conjoint...

Decision-making regarding restructuring in multinational enterprises.

OpenAIRE

Ghertman M

1986-01-01

ILO pub. Working paper, evaluation of three case studies of decision making regarding enterprise restructuring in multinational enterprises originating in Canada, the USA and Western Europe - examines the role of management attitude, business organization, capital resources and size of enterprise in determining subsidiary enterprise creation, enterprise takeover, plant shutdown, resource allocation, labour utilization, etc. Diagrams, organigrams, references, tables.

Stakeholder Governance, Competition and Firm Value

OpenAIRE

Allen, Franklin; Carletti, Elena; Marquez, Robert

2014-01-01

In many countries, the legal system or social norms ensure that firms are stakeholder oriented. We analyze the advantages and disadvantages of stakeholder-oriented firms that are concerned with employees and suppliers compared to shareholder-oriented firms in a model of imperfect competition. Stakeholder firms are more (less) valuable than shareholder firms when marginal cost uncertainty is greater (less) than demand uncertainty. With globalization shareholder firms and stakeholder firms ofte...

Decision-making in multinational enterprises: concepts and research approaches.

OpenAIRE

Ghertman M

1984-01-01

ILO pub. Working paper on decision making processes in multinational enterprises - gives definition, type and classification of decision making in large enterprises; outlines the centralization decentralization theory and the iterative process; notes research needs. Bibliography.

78 FR 52903 - Notice of Petitions by Firms for Determination of Eligibility To Apply for Trade Adjustment...

Science.gov (United States)

2013-08-27

... produced by each of these firms contributed importantly to the total or partial separation of the firm's... breakaway couplings for pumps that dispense and measure gasoline. Humphrey Products Company 5070 East N Ave...

Firm Exit, Technological Progress and Trade

DEFF Research Database (Denmark)

Schröder, Philipp; Sørensen, Allan

The dynamics of export market exit and firm closure have found limited attention in the new heterogeneous-firms trade literature. In fact, several of the predictions on firm survival and exit stemming from this new class of models are at odds with the stylized facts. Empirically, higher productiv......The dynamics of export market exit and firm closure have found limited attention in the new heterogeneous-firms trade literature. In fact, several of the predictions on firm survival and exit stemming from this new class of models are at odds with the stylized facts. Empirically, higher...... productivity firms survive longer, most firm closures are young firms, higher productivity exporters are more likely to continue to export compared to less productive exporters and market exits as well as firm closures are typically preceded by periods of contracting market shares. The present paper shows...... liberalization on export market exit and firm closure....

Corporate Governance Provisions, Family Involvement, and Firm Performance in Publicly Traded Family Firms

Directory of Open Access Journals (Sweden)

Esra Memili

2015-07-01

Full Text Available This study examines the moderation effects of corporate governance provisions on the link between family involvement (i.e., family ownership and family management in publicly-traded firms and firm performance by drawing upon agency theory, with a focus on principal-principal agency issues, and the extant family governance literature. We develop and test the hypotheses on 386 of the S&P 500 firms longitudinally. Findings support the hypotheses suggesting the moderation effects of the use of provisions (a protecting controlling owners in terms of their sustainability of controlling status, and (b protecting management legally on the inverted U-shaped relationship between family ownership and firm performance. We also found support for the moderation effects of provisions (c protecting controlling owners in terms of their voting rights, (d protecting noncontrolling owners, and (e protecting management monetarily on the inverted U-shaped relationship between family management and firm performance. By this, our study provides empirical support for the principal-principal agency perspective on the corporate governance in publicly-traded family firms. As such, it suggests new avenues of research for both the corporate governance literature, as well as for the theory of the family firm. Our study also offers insights to policy directed toward monitoring the actions of large shareholders such as family and enhancing the overall shareholder value in publicly-traded family firms.

Lean Manufacturing Implementation for Multinational Companies with Production Subsidiary in Brazil: Development of A Roadmap

Directory of Open Access Journals (Sweden)

L. Goehnera,

2016-06-01

Full Text Available Foreign multinational companies with a production subsidiary in Brazil are in general recognized as high-level productive companies; however, their productivity potential is mostly not fully achieved. Lean Manufacturing (LM has been proved as a valuable aid to achieve competitiveness in the long run. Regarding the rising importance of successfully implementing LM at multinationals in Brazil and an apparent lack of discussion regarding LM in Brazil this paper aims to propose a comprehensive implementation roadmap, which enables a multinational on a basis of a systematic approach, to achieve an advanced sustainable LM system in a practical manner. The insights of literature and case studies are combined to develop the roadmap. The roadmap was developed so that both companies, those, which have not started yet their journey towards LM, as well as those that have taken already the first steps can use the roadmap. However, the roadmap was built on a broad empirical basis. It should be noticed that it is impossible to consider all factors influencing the LMI at multinationals operating in Brazil in a real world setting. As a result, the roadmap should not be regarded as a ready implementation plan, which has to be strictly followed. Instead, it should be seen as a guideline, which helps a multinational to develop its own, detailed and fitted plan for successfully implementing LM and establishing a learning organization.

The Marketing Firm: Operant Interpretation of Corporate Behavior

Science.gov (United States)

Vella, Kevin J.; Foxall, Gordon R.

2013-01-01

In this article we address the issue of applying operant psychology to derive plausible and useful interpretations of complex firm behavior in natural settings. The objective is to discuss an appropriate methodology based on case study design, developed specifically in Vella and Foxall (2011), to produce an operant interpretation of secondary…

Multinational corporations and skills development in Nigeria: the ...

African Journals Online (AJOL)

The quest for skills development perhaps accounts for why developing countries like Nigeria attract multinational corporations (MNCs) to their territories to invest in their economies. MNCs are the custodians of skills vital for social and economic transformation of any nation. However, despite their skills advantage, Nigeria ...

Multinational design evaluation programme. Annual Report April 2016-April 2017

International Nuclear Information System (INIS)

2017-08-01

The Multinational Design Evaluation Program (MDEP) is a multinational initiative to leverage the resources and knowledge of national regulatory authorities that are currently, or will shortly be, undertaking the review of new reactor power plant designs. MDEP was launched in 2006. In the past ten years, MDEP's reputation as an effective organisation for leveraging the resources and experiences of multiple nations in the regulatory review of new reactors has grown significantly. As a result, the portfolio of new reactor designs that are being addressed have increased from two in 2006 to five in 2017, with a possibility of adding more new reactor designs in the coming years. MDEP's membership has grown from the original 10 national regulators to 15. Over the past year, MDEP design specific working groups have all completed their common positions to address the impact of the Fukushima Daiichi nuclear power plant accident on new reactor designs. New reactor commissioning activities are a major part of all design specific working groups. The EPR and AP1000 Working Groups are particularly active in this area, as together they are overseeing 12 new reactor constructions worldwide. The design specific working groups have finalised a common position to provide high-level guidance to applicants and licensees that wish to take credit for a first plant only test (FPOT). This common position was first implemented in March 2017 at the Taishan 1 plant in China, where regulators and licensees from the United Kingdom, France and Finland witnessed reactor pressure vessel internals vibration tests. The FPOT marked a significant milestone for MDEP since it provided a unique opportunity for regulators involved to demonstrate the efficiency of using common positions to effectively collaborate and share information on test results. This model should be followed as much as possible in other MDEP co-operation areas. Another significant step in multinational regulatory co

Firming Up Inequality

OpenAIRE

Jae Song; David J. Price; Fatih Guvenen; Nicholas Bloom; Till von Wachter

2015-01-01

Earnings inequality in the United States has increased rapidly over the last three decades, but little is known about the role of firms in this trend. For example, how much of the rise in earnings inequality can be attributed to rising dispersion between firms in the average wages they pay, and how much is due to rising wage dispersion among workers within firms? Similarly, how did rising inequality affect the wage earnings of different types of workers working for the same employer—men vs. w...

What Do We Know About Base Erosion and Profit Shifting? A Review of the Empirical Literature

OpenAIRE

Dhammika Dharmapala

2014-01-01

The issue of tax-motivated income shifting within multinational firms has attracted increasing global attention in recent years. It is of central importance to many current policy debates, including those related to recent initiatives by the OECD on base erosion and profit shifting (BEPS) and to proposals for US tax reform in a territorial direction. This paper provides a survey of the empirical literature on tax-motivated income-shifting within multinational firms. Its emphasis is on clarify...

A firm-specific exposure analyis of the exchange-rate exposure of Dutch firms

NARCIS (Netherlands)

de Jong, A.; Ligterink, J.; Macrae, V.

2006-01-01

We examine the relationship between exchange-rate changes and stock returns for a sample of Dutch firms over 1994-1998. We find that over 50 per cent of the firms are significantly exposed to exchange-rate risk. Furthermore, all firms with significant exchange-rate exposure benefit from a

The impact of environmental supply chain sustainability programs on shareholder wealth

NARCIS (Netherlands)

Dam, Lammertjan; Petkova, Boyana

2014-01-01

Purpose - Multinationals are increasingly pressured by stakeholders to commit to environmental sustainability that exceeds their own firm borders. As a result, multinationals have started to commit to environmental supply chain sustainability programs (ESCSPs). However, little is known about whether

The impact of environmental supply chain sustainability programs on shareholder wealth

NARCIS (Netherlands)

Dam, L.; Petkova, B.N.

2014-01-01

Purpose: Multinationals are increasingly pressured by stakeholders to commit to environmental sustainability that exceeds their own firm borders. As a result, multinationals have started to commit to environmental supply chain sustainability programs (ESCSPs). However, little is known about whether

Econometric Study of the Relationship between Dimensions of Corporate Responsibility in the Multinational Companies

OpenAIRE

Grosu Maria

2012-01-01

Corporate Responsibility, seen as a fundamental principle of corporate governance, aims contribution must have companies in the development of the modern society. Although it is widely discussed in the literature, the association of corporate responsibility - multinationals assumes, that the globalization of business, multinational companies are ones that have to initiate socially responsible actions, in order to meet changing requirements interest of more sophisticated. Most studies focused ...

Universal informations of restructuralization of magnesite firm

Directory of Open Access Journals (Sweden)

Bandurová Miriam

2001-12-01

Full Text Available The article presents general process of the judging of organization structures. At beginning there are defined development trends in the organizational structures, form of cooperation and concentration of the firm and of enterprise network. In present time it is very actual questions of organization of large company in the world. Then strategy of organization is described which can be classical and elastic. From new expression in this area is writed reengineering as a principle and radical reconstruction of company process. Between other forms of existence of firms (companies in this time belongs their combination and its forms there are described in this article too.The basic of contribution consists of informations about mining industry in the Slovakia and restructuralization of mining companies after 1989. There is mentioned proposal on general process at analysis of organizational structure of magnesite firm. The basic at the analysis is existence united model of every company produced in this area. Model presents division of organization to two parts: production and administration part. After analysis of individual production process in the production part and technical workers of administration parts of organization there are suggested two alternatives on solution of these problems.

Effect of Work-Life Balance Practices on Firm Productivity: Evidence from Japanese firm-level panel data

OpenAIRE

YAMAMOTO Isamu; MATSUURA Toshiyuki

2012-01-01

This paper examines how firm practices that could contribute to worker attainment of work-life balance (WLB) affect the total factor productivity (TFP) of a firm, by using panel data of Japanese firms from the 1990s. We observed a positive correlation between the WLB practices and TFP among sampled firms. However, that correlation vanished when we controlled for unobserved firm heterogeneity, and we found no general causal relationship in which WLB practices increase firm TFP in the medium or...

Social Networking as a Facilitator for Lifelong Learning in Multinational Employee’s Career

OpenAIRE

Andreea Nicoleta VISAN; Florentina Marinela OLTEANU

2017-01-01

This paper discusses how multinational employees who are leaving in Bucharest, Romania use social networks as a tool for their everyday tasks and work, and how they want to satisfy their personal development needs by having access to information from these digital platforms. The case study described was conducted in Bucharest in 2017 and followed a results analysis with structured tables and graphs. In the study took part 24 participants who were selected among multinational IT employees in B...

Value-Chain Networks and Entrepreneurial Output in Multinational Subsidiaries

DEFF Research Database (Denmark)

Dimitratos, Pavlos; Andersson, Ulf; Liouka, Ioanna

2011-01-01

on their entrepreneurial output. Entrepreneurial output can generate superior performance and positive externalities to the subsidiary. Based on a large-scale study of 268 multinational subsidiaries in the UK, we find that value-chain networks have a higher positive impact than multinational corporation (MNC) networks...... and non value-chain networks; because they may provide the subsidiary knowledge with market opportunities that it lacks and that the other types of networks cannot effectively provide. However, value-chain networks have a negative effect on entrepreneurial output of a subsidiary operating...... in an environment of high uncertainty; because they can constrain the exploration and creation of new knowledge that cannot be provided by any of the networks. Contrary to our expectations, the combined effect of value-chain and non-value chain networks has a negative influence on entrepreneurial output; and...

Evaluating the Investment Benefit of Multinational Enterprises' International Projects Based on Risk Adjustment: Evidence from China

Science.gov (United States)

Chen, Chong

2016-01-01

This study examines the international risks faced by multinational enterprises to understand their impact on the evaluation of investment projects. Moreover, it establishes a 'three-dimensional' theoretical framework of risk identification to analyse the composition of international risk indicators of multinational enterprises based on the theory…

Orchestration of Globally Distributed Knowledge within MNC Network

DEFF Research Database (Denmark)

Sajadirad, Solmaz; Lassen, Astrid Heidemann; Søberg, Peder Veng

2017-01-01

distributed knowledge in multinational companies. The findings also indicate that adoption of different knowledge orchestration approaches by companies can be influenced by headquarter-subsidiaries relationship, type of products, knowledge relevance between headquarter and subsidiaries, and level...... on knowledge orchestration in multinational companies. By introducing a dynamic view of the use of inter-firm objects, facilitating collaboration between headquarters and subsidiaries, our findings would help multinational companies improve headquarter-subsidiaries relationship in favor of the efficiency......This paper explores how the use of inter-firm objects within different knowledge orchestration processes affects collaboration between headquarter and distributed subsidiaries. The discussion focuses on different approaches to knowledge orchestration based on combinations of the use of inter...

Healthy vs. unhealthy food: a strategic choice for firms and consumers.

Science.gov (United States)

Antoñanzas, Fernando; Rodríguez-Ibeas, Roberto

2011-07-20

In this paper, we carry out a theoretical analysis of the strategic choice made by firms regarding the type of food they market when they face consumers who care about the healthy/unhealthy attributes of the product but incur in emotional/health costs when the food they consume has unhealthy attributes. We consider a two-stage game. In the first stage, one of the firms chooses the unhealthy content of its product. In the second stage, both firms simultaneously decide their prices. We find that, depending on the parameters of the model, product differentiation can be maximal or less than maximal. The firm that produces the unhealthy food charges a higher price and obtains a larger share of the market unless the emotional/health costs and the unhealthy food production costs are relatively high. We also find that educational campaigns will not always reduce the demand for the unhealthy food or the degree of the unhealthy attribute.JEL Classification:I10, I18, L11.

Multinational subsidiary knowledge protection - Do mandates and clusters matter?

NARCIS (Netherlands)

Sofka, Wolfgang; Shehu, Edlira; de Faria, Pedro

2014-01-01

International knowledge spillovers, especially through multinational companies (MNCs), have recently been a major topic of academic and management debate. However, most studies treat MNC subsidiaries as relatively passive actors. We challenge this assumption by investigating the drivers of knowledge

Multinationals, CSR and Partnerships in Central African Conflict Countries

NARCIS (Netherlands)

A. Kolk (Ans); F. Lenfant (François)

2011-01-01

textabstractAttention has increased for the potential role of Multinational Enterprises (MNEs) in helping address conflict issues and/or furthering peace and reconciliation as part of their corporate social responsibility policies. However, while existing literature emphasises the importance for

The Cultural Challenges of Managing Global Project Teams: A Study of Brazilian Multinationals

Directory of Open Access Journals (Sweden)

Ivete Rodrigues

2013-04-01

Full Text Available The internationalization of Brazilian companies brings a new reality: the need for implementation of global projects that bring, in turn, the challenge of managing multicultural teams. Since this is a recent phenomenon with little theoretical development, this study sought to understand the relationships between cultural characteristics and management teams of global projects in Brazilian multinationals. To carry this discussion forward, we studied six cases of Brazilian multinational companies, with the aim of deepening the understanding of the management of global teams, involving the planning, deployment, development and management of human resources. Among the projects studied, it was found that there is very little concern with the specific issue of multiculturalism and little inter-cultural incentive to the development of team members, which ends up hindering the construction of a global mindset, important for the Brazilian multinational companies to perform successfully abroad. Faced with this situation, each of the managerial processes mentioned were presented with a number of actions to be undertaken by the project manager in three different dimensions: the project itself, the organization and the global environment. The work contributes, thus, to enable Brazilian multinational companies to manage their global teams in order to maximize the advantages of global teams, such as increased creativity and innovative capacity, but avoid the problems that multiculturalism can bring, ranging from conflicts between people to project failure.

Organizational learning capability, firm innovativeness, and firm performance: A meta-analysis

DEFF Research Database (Denmark)

Schlägel, Christopher; Reichel, Lisa-Marie; Richter, Nicole Franziska

In the last twenty years a growing number of empirical studies tested the association be-tween organizational learning capability (OLC) and various economic outcomes. While these studies have provided a better understanding of these relationships, the literature is characterized by the use...... different measures. Based on 53 studies (13,663 firms), we (a) provide a systematic overview of the most commonly used OLC measures, (b) use meta-analytic techniques to highlight the relevance of OLC for firm innovativeness (ruc = .39) and firm perfor-mance (ruc = .41), and (c) explore the unique and common...

Firm Search for External Knowledge

DEFF Research Database (Denmark)

Sofka, Wolfgang; Grimpe, Christoph

2012-01-01

ignored the institutional context that provides or denies access to external knowledge at the country level. Combining institutional and knowledge search theory, we suggest that the market orientation of the institutional environment and the magnitude of institutional change influence when firms begin......The innovation performance of modern firms is increasingly determined by their ability to search and absorb external knowledge. However, after a certain threshold firms "oversearch" their environment and innovation performance declines. In this paper, we argue that prior literature has largely...... to experience the negative performance effects of oversearch. Based on a comprehensive sample of almost 8,000 firms from ten European countries, we find that institutions matter considerably for firms' search activity. Higher market orientation of institutions increases the effectiveness of firms' search...

Multinationals, CSR and partnerships in Central African conflict countries

NARCIS (Netherlands)

Kolk, A.; Lenfant, F.

2013-01-01

Attention has increased for the potential role of multinational enterprises (MNEs) in helping address conflict issues and/or furthering peace and reconciliation as part of their corporate social responsibility (CSR) policies. However, while existing literature emphasises the importance for MNEs to

Taxes and Decision Rights in Multinationals

DEFF Research Database (Denmark)

Nielsen, Søren Bo; Raimondos-Møller, Pascalis; Schjelderup, Guttorm

2006-01-01

We examine how a multinational's choice to centralize or de-centralize itsdecision structure is affected by country tax differentials. Within a simple model that emphasizes the multiple conflicting roles of transfer prices in MNEs — here, as a strategic pre-commitment device and a tax manipulation...... commitment and non-commitment to transfer prices, and for alternative modes of competition.Keywords: Centralized vs. de-centralized decisions, taxes, transfer prices, MNEs.JEL-Classification: H25, F23, L23....

The budgeting and reporting process of a multinational organisation across regions and trade centres

OpenAIRE

Robusti, Fiorenza

2012-01-01

In the contemporary international business environment, a multinational organisation faces great challenges when it comes to budgeting and reporting. The complexity of budgeting and reporting is even greater when it implies the coordination of budgets and reports of trade centres located in other countries than the country of origin. A multinational organisation often adopts the participative budgeting method. The purpose of participative budgeting is to involve managers at lower manage...

The relationship between strategic type and firm capabilities in Chinese firms

NARCIS (Netherlands)

Benedetto, Di A.C.; Song, X.M.

2003-01-01

Proposes that firms of different Miles and Snow strategic types will have different bundles of firm-level capabilities; that is, certain capabilities will be more important to certain strategic types. Specifically, proposes that prospectors have greater relative inside-out capabilities and

Relative importance of moisture migration and amylopectin retrogradation for pound cake crumb firming.

Science.gov (United States)

Luyts, A; Wilderjans, E; Van Haesendonck, I; Brijs, K; Courtin, C M; Delcour, J A

2013-12-15

Moisture migration largely impacts cake crumb firmness during storage at ambient temperature. To study the importance of phenomena other than crumb to crust moisture migration and to exclude moisture and temperature gradients during baking, crustless cakes were baked using an electrical resistance oven (ERO). Cake crumb firming was evaluated by texture analysis. First, ERO cakes with properties similar to those baked conventionally were produced. Cake batter moisture content (MC) was adjusted to ensure complete starch gelatinisation in the baking process. In cakes baked conventionally, most of the increase in crumb firmness during storage was caused by moisture migration. Proton nuclear magnetic resonance ((1)H NMR) showed that the population containing protons of crystalline starch grew during cake storage. These and differential scanning calorimetry (DSC) data pointed to only limited amylopectin retrogradation. The limited increase in amylopectin retrogradation during cake storage cannot solely account for the significant firming of ERO cakes and, hence, other phenomena are involved in cake firming. Copyright © 2013 Elsevier Ltd. All rights reserved.

Search Results | Page 908 | IDRC - International Development ...

International Development Research Centre (IDRC) Digital Library (Canada)

Results 9071 - 9080 of 9580 ... ICT sectors and clusters, local firms performance and employment ... ICT firms and foreign multinational corporations (MNCs) with presences in Cos ... trade facilitation, trade finance and communication technology.

Technology Licensing and Firm Innovation

DEFF Research Database (Denmark)

Moreira, Solon

acquisition. The findings indicate that technology licensing is positively related to the number of inventions produced by the licensee in the years subsequent to the licensing deal. Subsequently, I investigate the moderating effect that organizational slack and myopia have on this main relationship....... The findings also suggest that high levels of Organizational Slack (available financial resources) strengthen the positive effect of licensing on innovation. However, higher levels of Organizational Myopia (the extent to which a firm draws on its own knowledge) can decrease the main effect of licensing....

Social security and firm performance

DEFF Research Database (Denmark)

Lee, Sangheon; Torm, Nina

2017-01-01

This article investigates how social security provision - a key determinant of formality - impacts on small and medium-sized firm performance in Viet Nam. Based on enterprise census data covering all registered firms from 2006 to 2011, the authors find that firms which increase their social...... security coverage by 10 per cent experience a revenue gain of 1.4-2.0 per cent per worker and a profit gain of up to 1.8 per cent, depending on the survival time of the firm. However, given the time lag between 'investment' (in social security contributions) and returns (enhanced firm performance...

Decomposing Firm-level Sales Variation

DEFF Research Database (Denmark)

Munch, Jakob Roland; Nguyen, Daniel Xuyen

, and that for the median product it drives 31% of the sales variation. When we remove first-time exports from our sample, the median value increases to 40%, implying that firm-destination-specific effects are most important the first year. We conclude that while firm-specific productivity can account for some......We measure the contribution of firm-specific effects to overall sales variation within a destination and find it remarkably low. Our empirical decomposition is structurally motivated by a heterogeneity model of exporting involving destination-specific, firm-specific, and firm......-destination-specific latent effects with incidental truncation. We use a highly detailed dataset with exports by products and destinations for all Danish manufacturing fi…rms. We fi…nd the contribution of firm-specific heterogeneity to within-destination sales variation varies greatly across HS6 products...

Multinational Design Evaluation Programme. Annual Report - April 2014-April 2015

International Nuclear Information System (INIS)

2015-06-01

The Multinational Design Evaluation Programme (MDEP) is a multinational initiative to leverage the resources and knowledge of national regulatory authorities who are, or will shortly be, undertaking the review of new reactor power plant designs. MDEP incorporates a broad range of activities including enhancing multilateral co-operation within existing regulatory frameworks, and increasing multinational convergence of codes, standards, guides and safety goals. A key concept throughout the work of MDEP is that national regulators retain sovereign authority for all licensing and regulatory decisions. Working groups are implementing the activities in accordance with programme plans with specific activities and goals, and have established the necessary interfaces both within and outside of MDEP. This report provides a status of the programme after its seventh year of implementation. Content: Executive summary; 1. Introduction; 2. Programme goals and outcomes; 3. Programme implementation (Membership, Organisational structure, MDEP Library, Common positions); 4. Interactions with other organisations; 5. Current activities (EPR Working Group (EPRWG), AP1000 Working Group (AP1000WG), APR1400 Working Group (APR1400WG), VVER Working Group (VVERWG), AVBWR Working Group (ABWRWG), Vendor Inspection Co-operation Working Group (VICWG), Codes and Standards Working Group (CSWG), Digital Instrumentation and Controls Working Group (DICWG)); 6. Interim results; 7. Next steps - Future of the programme; Appendix 1 - List of abbreviations and acronyms; Appendix 2 - Revised documents and publications; Appendix 3 - Photographs of reactors considered within MDEP

Essays on Information and Firm Behavior

OpenAIRE

Kwok, Siwei

2016-01-01

This dissertation consists of two chapters. In the first chapter, which is co-authored with Marcus Studart, we study the interaction of information and competition in incentivizing firms to produce high quality. We estimate a discrete quality choice game, using restaurant hygiene inspection data in Los Angeles County, from 1995 through 1998. Our results show that information is sufficient for competition to have an effect on quality provision. We also find that after the mandatory disclosure ...

Japanese Intercultural Communiccative Strategies in Multinational Companies

OpenAIRE

大山, 中勝

1998-01-01

The purpose of this study is to describe, from a sociolinguistic perspective, major language functions during which Japanese-American communication occurs in multinational companies in the United States. Comparing communication problems across major language functions and research memos, five major themes emerged: (1)foramlity; (2)social hierarchical distinctons; (3)ambiguous communication strategies; (4)consensus making; and (5)language attitudes. This paper also aims to identify the intercu...

Japanese Intercultural Communication Strategies in Multinational Companies

OpenAIRE

大山, 中勝

1997-01-01

The purpose of this study is to describe, from a sociolinguistic perspective, major language functions during which Japanese-American communication occurs in multinational companies in the United States. Comparing communication problems across major language functions and research memos, five major themes emerged: (1)foramlity; (2)social hierarchical distinctons; (3)ambiguous communication strategies; (4)consensus making; and (5)language attitudes. This paper also aims to identify the intercu...

Leadership and diversity effectiveness in a large multinational organisation

NARCIS (Netherlands)

Brassey-Schouten, J.

2011-01-01

Effectiviteit van leiderschap en diversiteit krijgen veel aandacht binnen de multinationals van vandaag. De belangrijkste reden is een groeiend geloof en vertrouwen dat leiders en diversiteit een verschil kunnen maken voor de prestatie van een organisatie. In dit onderzoek zijn deze onderwerpen

Family firm research – A review

Directory of Open Access Journals (Sweden)

Qiang Cheng

2014-09-01

Part I of the article discusses the fundaments of family firms: the prevalence of and the agency conflicts within family firms. Part II summarizes the findings of recent U.S. family firm studies. It reviews the evidence on the family firm premium (how, which, and when family firms are associated with a valuation premium, the manifestation of the agency conflict between majority and minority shareholders in family firms, earnings quality and corporate disclosure, and the determinants of family ownership and control. Part III discusses the prevalence and characteristics of Chinese family firms and reviews the findings of related studies. The article concludes with some suggestions for future research.

Strategic Evolution of Chilean Wine Firms: Vertical Integration and Upgrading in Chile’s Colchagua Valley

OpenAIRE

Robert N. Gwynne

2012-01-01

This paper argues that the favourable export trajectories for Chilean wine to global markets in general and the UK market in particular are partly due to the nature of the insertion of wine producing firms into global value chains. Much of the data in this paper comes from a two-year British Academy research project (2005-07) which examined the impacts of globalization on export-oriented wine firms in Chile’s Colchagua Valley and the record of collaboration between these firms and key purchas...

The Dual Role of Multinational Corporations in Cluster Evolution

DEFF Research Database (Denmark)

Østergaard, Christian Richter; Reinau, Kristian Hegner; Park, Eun Kyung

2017-01-01

This chapter shows that multinational corporations play a dual role in cluster evolution through the case of the wireless communications cluster in Northern Denmark. On the one hand, they bring in resources to the cluster, such as financial resources, technology, knowledge, innovation networks, a...

Current Status of Diversity Initiatives in Selected Multinational Corporations.

Science.gov (United States)

Wentling, Rose Mary; Palma-Rivas, Nilda

2000-01-01

Interviews with eight diversity managers in multinational corporations revealed a variety of domestic and international diversity initiatives, especially in leadership and management. Formal and informal methods were used to plan them. Business unit managers were responsible for implementation. Evaluation was difficult and time consuming. (SK)

Local Nordic tobacco interests collaborated with multinational companies to maintain a united front and undermine tobacco control policies.

Science.gov (United States)

Hiilamo, Heikki; Glantz, Stanton A

2013-03-01

To analyse how local tobacco companies in the Nordic countries, individually and through National Manufacturers' Associations, cooperated with British American Tobacco and Philip Morris in denying the health hazards of smoking and undermining tobacco control. Analysis of tobacco control policies in the Nordic countries and tobacco industry documents. Nordic countries were early adopters of tobacco control policies. The multinational tobacco companies recognised this fact and mobilised to oppose these policies, in part because of fear that they would set unfavourable precedents. Since at least 1972, the Nordic tobacco companies were well informed about and willing to participate in the multinational companies activities to obscure the health dangers of smoking and secondhand smoke and to oppose tobacco control policies. Cooperation between multinational companies, Nordic national manufacturer associations and local companies ensured a united front on smoking and health issues in the Nordic area that was consistent with the positions that the multinational companies were taking. This cooperation delayed smoke-free laws and undermined other tobacco control measures. Local tobacco companies worked with multinational companies to undermine tobacco control in distant and small Nordic markets because of concern that pioneering policies initiated in Nordic countries would spread to bigger market areas. Claims by the local Nordic companies that they were not actively involved with the multinationals are not supported by the facts. These results also demonstrate that the industry appreciates the global importance of both positive and negative public health precedents in tobacco control.

Gender Segregation Small Firms

OpenAIRE

Kenneth R Troske; William J Carrington

1992-01-01

This paper studies interfirm gender segregation in a unique sample of small employers. We focus on small firms because previous research on interfirm segregation has studied only large firms and because it is easier to link the demographic characteristics of employers and employees in small firms. This latter feature permits an assessment of the role of employer discrimination in creating gender segregation. Our first finding is that interfirm segregation is prevalent among small employers. I...

Internationalization Of Indian IT Multinationals

OpenAIRE

Singh, Abhishek

2009-01-01

Indian IT industry has emerged to be a strong and influential player on the world map. The industry which did not existed a few decades ago is now a major exporter of software services to major markets. The Indian IT firms now seem to move beyond exporting and advance further into the international market. With the help of case study approach, this study tends to examine the internationalization of these firms. The dissertation is aimed to see how far the traditional theories o...

Multinational teams in European and American companies

OpenAIRE

Numic, Aida

2007-01-01

Incorporating team context into research and practice concerning team effectiveness in multinational organizations still remains an ongoing challenge. The purpose of this dissertation was to explore the influence of industry, corporate culture, structure, strategy and task characteristics on MNTs in business organizations and to develop a more comprehensive framework connecting the internal dynamics with contextual aspects of MNTs functioning in companies in Europe and the USA. The study was ...

How small firms contrast with large firms regarding perceptions, practices, and needs in the U.S

Science.gov (United States)

Urs Buehlmann; Matthew Bumgardner; Michael. Sperber

2013-01-01

As many larger secondary woodworking firms have moved production offshore and been adversely impacted by the recent housing downturn, smaller firms have become important to driving U.S. hardwood demand. This study compared and contrasted small and large firms on a number of factors to help determine the unique characteristics of small firms and to provide insights into...

Increasing Absorptive Capacity to Improve Internal and External Knowledge Transfer in Multinational Companies: A Multiple Case Study Approach

Directory of Open Access Journals (Sweden)

Béla-Gergely RÁCZ

2016-12-01

Full Text Available This study investigates how the absorptive capacity could be increased to improve internal and external knowledge transfer in subsidiaries of multinational companies. We look at the way in which the literature on absorptive capacity has evolved, and how it links the internal and external knowledge transfer. Based on 3 case studies conducted at Romanian subsidiaries of multinational companies, we find some patterns, which could explain how the successful knowledge flows should be managed within the multinational company and outside of it, in the supply chain network.

The Transmission of Real Estate Shocks Through Multinational Banks

NARCIS (Netherlands)

Bertay, A.C.

2014-01-01

Abstract: This paper investigates the credit supply of banks in response to domestic and foreign real estate price changes. Using a large international dataset of multinational banks, we find evidence of a significant transmission of domestic real estate shocks into lending abroad. A 1% decrease in

Competitive Advantage and the Existence of the Multinational Corporation

DEFF Research Database (Denmark)

Geisler Asmussen, Christian; Foss, Nicolai Juul

2014-01-01

This article provides a counterpoint to Hashai and Buckley's article ‘Is competitive advantage a necessary condition for the emergence of the multinational enterprise?’ We agree with their conclusion that it is, in fact, not a necessary condition, but argue that the theoretical reasons behind thi...

Board diversity in family firms

OpenAIRE

Menozzi, Anna; Fraquelli, Giovanni; Novara, Jolanda de

2015-01-01

The paper deals with diversity as a key factor to improve the board of directors’ decision process in family firms. The empirical literature about board diversity points at the positive impact of diversity on board functioning and firm performance. The paper uses a statistical diversity index to capture the heterogeneity of board of directors and put it in relation with firm performance, as measured by firm profitability. The empirical analysis is based on a newly collected panel of 327 famil...

Collaborative Communities of Firms

DEFF Research Database (Denmark)

2011-01-01

and developing strategic initiatives that aid the community as a whole. We discuss the facilitator role of the shared services provider, contrasting it with the coordinator role found in other multi-firm organizations, and we show how shared services providers function by describing three examples...... is an organizational model called the collaborative community of firms. This chapter addresses an important organizational role in a collaborative community, that of the shared services provider. The shared services provider acts as a facilitator in the community, helping member firms collaborate with one another...... of collaborative communities of firms from different sectors: the U.S.-based Blade.org and two Denmark-based communities, the Kalundborg Industrial Symbiosis and MG50. Implications for the theory and practice of organization design are discussed....

INTRODUCING WESTERN HUMAN RESOURCE MANAGEMENT PRACTICES TO CHINA: SHOPFLOOR WORKERS' PERSPECTIVES

Directory of Open Access Journals (Sweden)

Jos Gamble

2006-01-01

Full Text Available The management of host country employees is often portrayed as a particularly fraught dimension for multinational firms. The problems involved are considered exponentially greater when there are substantial institutional differences and 'cultural distance' between the host country and a firm's parent country, as is assumed to be the case for Western firms operating in China. Based upon detailed case study research conducted at a UK-invested firm in China between 1999 and 2003 and a comparative study of a Chinese state-owned firm, this paper explores the veracity of such assumptions. The findings indicate that Western human resource management practices can be transplanted successfully and questions the degree to which foreign-invested enterprises need to adopt 'the Chinese way of doing things'. Indeed, such practices can be innovative in the Chinese context and provide a competitive source of differentiation for multinationals as employees.

7 CFR 51.893 - Firm.

Science.gov (United States)

2010-01-01

... 7 Agriculture 2 2010-01-01 2010-01-01 false Firm. 51.893 Section 51.893 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Grades of Table Grapes (European or Vinifera Type) 1 Definitions § 51.893 Firm. Firm means...

Firm-Level Corruption in Vietnam

DEFF Research Database (Denmark)

Rand, John; Tarp, Finn

This paper uses a unique panel dataset on firm-level corruption. It contains quantitative information on bribe payments by a sample of formal and informal Vietnamese firms. We show that bribe incidence is highly associated with firm-level differences in (i) visibility, (ii) sunk costs, (iii...

A firm's activity in social media and its relationship with corporate reputation, firm size and firm performance

OpenAIRE

Mäkinen, Hanna

2015-01-01

The significance of social media has increased greatly in the past few years, leading companies to increase their social media activity and also increase their interest in knowing whether it is genuinely worth being active on social media, including knowing the potential advantages. This study aims to examine the relationship between social media activity and three variables: reputation, firm size and firm performance. The study analyzes the relationships between the constru...

The integration of sustainability and CSR into the firm strategy: why and how. A case study of an Italian large multinational company

OpenAIRE

L. Songini; A. Pistoni; O. Perrone

2013-01-01

Over the past decade, the risen concern regarding environmental and social issues asks enterprises to develop a new strategic paradigm, more focused on the ethical conduct of the firm, the social and environmental impact of their activities, and their duties and responsibilities towards all stakeholders. However, both the literature and empirical evidence highlight that the evolution of enterprises towards embedding sustainability in their strategy, organization and managerial systems is not ...

Selection of workers and firm heterogeneity

NARCIS (Netherlands)

G.W.J. Hendrikse (George)

1992-01-01

textabstractA model based on differences between workers regarding their preferences for wage and leisure drives the heterogeneity of firms result. The more industrious workers are driven to small firms due to free riding in large firms. An industry consisting of small and large firms turns out to

Shared vision promotes family firm performance.

Science.gov (United States)

Neff, John E

2015-01-01

A clear picture of the influential drivers of private family firm performance has proven to be an elusive target. The unique characteristics of private family owned firms necessitate a broader, non-financial approach to reveal firm performance drivers. This research study sought to specify and evaluate the themes that distinguish successful family firms from less successful family firms. In addition, this study explored the possibility that these themes collectively form an effective organizational culture that improves longer-term firm performance. At an organizational level of analysis, research findings identified four significant variables: Shared Vision (PNS), Role Clarity (RCL), Confidence in Management (CON), and Professional Networking (OLN) that positively impacted family firm financial performance. Shared Vision exhibited the strongest positive influence among the significant factors. In addition, Family Functionality (APGAR), the functional integrity of the family itself, exhibited a significant supporting role. Taken together, the variables collectively represent an effective family business culture (EFBC) that positively impacted the long-term financial sustainability of family owned firms. The index of effective family business culture also exhibited potential as a predictive non-financial model of family firm performance.

Shared Vision promotes family firm performance

Directory of Open Access Journals (Sweden)

John Edward Neff

2015-05-01

Full Text Available A clear picture of the influential drivers of private family firm performance has proven to be an elusive target. The unique characteristics of private family owned firms necessitate a broader, non-financial approach to reveal firm performance drivers. This research study sought to specify and evaluate the themes that distinguish successful family firms from less successful family firms. In addition, this study explored the possibility that these themes collectively form an effective organizational culture that improves longer-term firm performance. At an organizational level of analysis, research findings identified four significant variables: Shared Vision (PNS, Role Clarity (RCL, Confidence in Management (CON, and Professional Networking (OLN that positively impacted family firm financial performance. Shared Vision exhibited the strongest positive influence among the significant factors. In addition, Family Functionality (APGAR, the functional integrity of the family itself exhibited a significant supporting role. Taken together, the variables collectively represent an effective family business culture (EFBC that positively impacted the long-term financial sustainability of family owned firms. The index of effective family business culture also exhibited potential as a predictive non-financial model of family firm performance.

Multinational design evaluation programme. Annual Report April 2015-April 2016

International Nuclear Information System (INIS)

2016-05-01

The Multinational Design Evaluation Programme (MDEP) is a multinational initiative to leverage the resources and knowledge of national regulatory authorities that are, or will shortly be, undertaking the review of new reactor power plant designs. MDEP incorporates a broad range of activities including enhancing multilateral co-operation within existing regulatory frameworks, and increasing multinational convergence of codes, standards, guides, and safety goals. A key concept throughout the work of MDEP is that national regulators retain sovereign authority for all licensing and regulatory decisions. Working groups are implementing the activities in accordance with programme plans with specific activities and goals, and have established the necessary interfaces both within and outside of MDEP. This report provides a status of the programme after its eighth year of implementation. Content: Executive Summary; 1 - Introduction; 2 - Programme goals and outcomes; 3 - Programme implementation (Membership, Organizational structure, MDEP Library, Common positions); 4 - Interactions with other organizations; 5 - Current activities (EPR Working Group (EPRWG), AP1000 Working Group (AP1000WG), APR1400 Design-specific Working Group (APR1400WG), VVER Working Group (VVERWG), ABWR Working Group (ABWRWG), Vendor Inspection Co-operation Working Group (VICWG), Codes and Standards Working Group (CSWG), Digital Instrumentation and Controls Working Group (DICWG); 6 - Interim results; 7 - Next steps - future of the programme; appendix 1: List of abbreviations and acronyms; Appendix 2: Revised documents and publications; Appendix 3: Photographs of reactors considered within MDEP

7 CFR 51.1551 - Firm.

Science.gov (United States)

2010-01-01

... 7 Agriculture 2 2010-01-01 2010-01-01 false Firm. 51.1551 Section 51.1551 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Grades of Potatoes 1 Definitions § 51.1551 Firm. Firm means that the potato is not shriveled...

7 CFR 51.696 - Firm.

Science.gov (United States)

2010-01-01

... 7 Agriculture 2 2010-01-01 2010-01-01 false Firm. 51.696 Section 51.696 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... § 51.696 Firm. Firm as applied to common oranges, means that the fruit is not soft, or noticeably...

7 CFR 51.1353 - Firm.

Science.gov (United States)

2010-01-01

... 7 Agriculture 2 2010-01-01 2010-01-01 false Firm. 51.1353 Section 51.1353 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Pears for Canning Definitions § 51.1353 Firm. Firm means that the pear is fairly solid and...

7 CFR 51.1006 - Firm.

Science.gov (United States)

2010-01-01

... 7 Agriculture 2 2010-01-01 2010-01-01 false Firm. 51.1006 Section 51.1006 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Persian (Tahiti) Limes Definitions § 51.1006 Firm. Firm means that the fruit is not soft or...

7 CFR 51.1824 - Firm.

Science.gov (United States)

2010-01-01

... 7 Agriculture 2 2010-01-01 2010-01-01 false Firm. 51.1824 Section 51.1824 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Grades of Florida Tangerines Definitions § 51.1824 Firm. Firm means that the flesh is not soft...

7 CFR 51.765 - Firm.

Science.gov (United States)

2010-01-01

... 7 Agriculture 2 2010-01-01 2010-01-01 false Firm. 51.765 Section 51.765 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Grades of Florida Grapefruit Definitions § 51.765 Firm. Firm means that the fruit is not soft...

40 CFR 745.89 - Firm certification.

Science.gov (United States)

2010-07-01

... 40 Protection of Environment 30 2010-07-01 2010-07-01 false Firm certification. 745.89 Section 745... § 745.89 Firm certification. (a) Initial certification. (1) Firms that perform renovations for compensation must apply to EPA for certification to perform renovations or dust sampling. To apply, a firm must...

Resource and waste taxation in the theory of the firm with recycling activities

International Nuclear Information System (INIS)

Conrad, K.

1999-01-01

The management of solid waste has become an urgent problem in nations with a great population density. Accordingly, waste reduction through source reduction and recycling has become increasingly important. Our purpose is to show how prevention, recycling and disposal of waste could be part of a theory of the firm. We first derive efficient production functions from production processes with waste as a by-product. Waste obtained as new scrap can partially be recycled by using additional inputs in order to cut back the purchase of virgin material. Waste not completely recyclable will leave the firm as disposal which also entails cost to the firm. We use the dual cost function approach to develop a theory of the firm under solid residual management. Since the producer does not bear the full cost of disposal, there will be a bias toward virgin materials and away from recycling. The goal of the government is to stimulate the firms to recycle with respect to the preservation of exhaustible resources. An incentive to recycle is a tax on resources or on waste. In order to determine the tax levels the government maximizes welfare subject to the dynamic constraint for decumulation of land fill for waste deposits. This gives the user cost and its time profile for taxing waste disposal or virgin material. In a comparative statistics analysis we compare the effect of taxes on waste vs. virgin material on effort to produce in a resource saving manner, on the quantity of recycled material, on output, and on the reduction of waste. Since the impact of environmental regulation on employment is important, our model detects seven effects on labor demand as part of resource conservation policy. We finally carry out a comparative statistics analysis of waste intensive firms operating in different market structures. Of interest is the impact of a resource or waste taxation on market volume, on the number of firms, on resource saving effort, and on profit. 36 refs

Ethical Issues in Doing Business in China(Çin’de İş Yapmanın Etik Sorunları

Directory of Open Access Journals (Sweden)

Serkan ADA

2007-01-01

Full Text Available In the 1980s and 1990s China was cited by some of the international organizations because of its violations of basic human rights. However, multinational firms from most of the countries criticizing the China’s violations began to do considerable amount of investments to China in the 1990s and 2000s. They moved their manufacturing activities to China because of valuable opportunities, incentives, and cheap work force. They pursued this action regardless of Chinese government’s carelessness to its own citizens. Despite this fact, should these firms do additional investment in order to produce their products with lower levels of costs? Is this an ethical decision? In this study, this issue is argued out and some points are recommended from the perspective of international firms.

LEARNING, ENTREPRENEURSHIP AND INNOVATION ORIENTATIONS IN TURKISH FAMILY-OWNED FIRMS

Directory of Open Access Journals (Sweden)

Erkut Altindag

2011-11-01

Full Text Available Globalization is forcing family-owned companies need to be more flexible and faster organization structures to respond effectively to the customers’ growing various types needs on the certain line of producing high quality goods and services these days. With the start of a new paradigm era in strategic management field, family- owned firms began to choose different tools to maximize their sustainable performance against rivals. These tools include special strategic orientations including learning, entrepreneurship and innovation implications. Our study tries to explore the effects of strategic orientations implications into firm performance and their effects on growth and financial performance in Turkish family-owned companies.

Capital Structure and International Debt Shifting

NARCIS (Netherlands)

Huizinga, H.P.; Laeven, L.; Nicodeme, G.

2006-01-01

This paper presents a model that relates a multinational firm's optimal debt policy to taxation and to non-tax factors such as the desire to prevent bankruptcy. The model yields the predictions that a multinational's indebtedness in a country depends on national tax rates and differences between

Bayer HealthCare Delivers a Dose of Reality for Cloud Payoff Mantras in Multinationals

DEFF Research Database (Denmark)

Winkler, Till J.; Benlian, Alexander; Piper, Marc

2014-01-01

Cloud services provide high cost advantages” is one of several often-quoted assertions (called mantras in this article) about payoffs from cloud computing. These mantras, however, have their origins in the experiences of small and mid-size companies, but, as the case of Bayer HealthCare’s cloud-b......-based CRM rollout program shows, may not always be true for large multinational companies. To ensure payoffs from the cloud, multinationals must adopt strategies for coping with the inhibitors identified in this article....

The impact of firm and industry characteristics on small firms' capital structure

NARCIS (Netherlands)

Degryse, H.A.; de Goeij, P. C.; Kappert, P.

2012-01-01

We study the impact of firm and industry characteristics on small firms’ capital structure, employing a proprietary database containing financial statements of Dutch small and medium-sized enterprises (SMEs) from 2003 to 2005. The firm characteristics suggest that the capital structure decision is

Leverage, Growth Opportunities and Firm Investment: The Case of Manufacturing Firms in China

OpenAIRE

Di Sheng; Shuyang Hou

2014-01-01

This paper examined the impact of financial leverage on investment decisions offirms using the panel data of publicly traded Chinese firms. We collected data for511 manufacturing companies during the period from 2005 to 2013 to do theresearch. The data shows that financial leverage is negatively correlated with afirm’s investment. Moreover, after we categorized the data into two types: 1)high-growth firms and 2) low-growth firms, it demonstrated that such negativecorrelation is significant fo...

What is the energy policy-planning network and who dominates it?: A network and QCA analysis of leading energy firms and organizations

International Nuclear Information System (INIS)

Crawford, Seth

2012-01-01

This study examines the structure of the energy industry and the energy policy-planning network (EPPN). I use cross-sectional director interlocks from 2002 to examine the social networks amongst a sample of the largest energy firms, between these firms and the EPPN, and to calculate relative network centrality measures for the firms. I then use qualitative comparative analysis (QCA) to isolate specific combinations of energy firm attributes that are associated with network position. I find that the energy industry has several key intra-firm interlocks that link dominant companies to each other and that the industry is well represented on the boards of EPPN organizations. Additionally, several dominant energy firms provide links between ultra-conservative and moderate policy development organizations. Finally, QCA models suggest that firms with many employees, high revenue, and who produce oil are most likely to hold prominent positions in the EPPN—though above average political campaign contributions offer an alternative path into the network. - Highlights: ► Identifies organizations in the Energy Policy-Planning Network (EPPN). ► Examines measures of network association between EPPN organizations and energy firms. ► Isolates key attributes of energy firms who are highly embedded within the EPPN. ► Large, oil producing firms hold key positions in the network. ► EPPN organizations act as a bridge between many firms, linking them indirectly.

7 CFR 51.634 - Firm.

Science.gov (United States)

2010-01-01

... 7 Agriculture 2 2010-01-01 2010-01-01 false Firm. 51.634 Section 51.634 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing...) Definitions § 51.634 Firm. Firm means that the fruit is not soft, or noticeably wilted or flabby, and the skin...

A non-traditional multinational approach to construction inspection program

International Nuclear Information System (INIS)

Ram, Srinivasan; Smith, M.E.; Walker, T.F.

2007-01-01

The next generation of nuclear plants would be fabricated, constructed and licensed in markedly different ways than the present light water reactors. Non-traditional commercial nuclear industry suppliers, shipyards in Usa and international fabricators, would be a source to supply major components and subsystems. The codes of construction may vary depending upon the prevailing codes and standards used by the respective supplier. Such codes and standards need to be reconciled with the applicable regulations (e.g., 10 CFR 52). A Construction Inspection Program is an integral part of the Quality Assurance Measures required during the Construction Phase of the power plant. In order to achieve the stated cost and schedule goals of the new build plants, a nontraditional multi-national approach would be required. In lieu of the traditional approach of individual utility inspecting the quality of fabrication and construction, a multi-utility team approach is a method that will be discussed. Likewise, a multinational cooperative licensing approach is suggested taking advantage of inspectors of the regulatory authority where the component would be built. The multi-national approach proposed here is based on the principle of forming teaming agreements between the utilities, vendors and the regulators. For instance, rather than sending Country A's inspectors all over the world, inspectors of the regulator in Country B where a particular component is being fabricated would in fact be performing the required inspections for Country A's regulator. Similarly teaming arrangements could be set up between utilities and vendors in different countries. The required oversight for the utility or the vendor could be performed by their counterparts in the country where a particular item is being fabricated

Centralized vs. de-centralized multinationals and taxes

OpenAIRE

Nielsen, Søren Bo; Raimondos-Møller, Pascalis; Schjelderup, Guttorm

2005-01-01

The paper examines how country tax differences affect a multinational enterprise's choice to centralize or de-centralize its decision structure. Within a simple model that emphasizes the multiple conflicting roles of transfer prices in MNEs – here, as a strategic pre-commitment device and a tax manipulation instrument –, we show that (de-)centralized decisions are more profitable when tax differentials are (small) large. Keywords: Centralized vs. de-centralized decisions, taxes, MNEs. ...

Local Nordic tobacco interests collaborated with multinational companies to maintain a united front and undermine tobacco control policies

Science.gov (United States)

Hiilamo, Heikki; Glantz, Stanton A

2012-01-01

Objective To analyse how local tobacco companies in the Nordic countries, individually and through National Manufacturers’ Associations, cooperated with British American Tobacco and Philip Morris in denying the health hazards of smoking and undermining tobacco control. Methods Analysis of tobacco control policies in the Nordic countries and tobacco industry documents. Results Nordic countries were early adopters of tobacco control policies. The multinational tobacco companies recognised this fact and mobilised to oppose these policies, in part because of fear that they would set unfavourable precedents. Since at least 1972, the Nordic tobacco companies were well informed about and willing to participate in the multinational companies activities to obscure the health dangers of smoking and secondhand smoke and to oppose tobacco control policies. Cooperation between multinational companies, Nordic national manufacturer associations and local companies ensured a united front on smoking and health issues in the Nordic area that was consistent with the positions that the multinational companies were taking. This cooperation delayed smoke-free laws and undermined other tobacco control measures. Conclusions Local tobacco companies worked with multinational companies to undermine tobacco control in distant and small Nordic markets because of concern that pioneering policies initiated in Nordic countries would spread to bigger market areas. Claims by the local Nordic companies that they were not actively involved with the multinationals are not supported by the facts. These results also demonstrate that the industry appreciates the global importance of both positive and negative public health precedents in tobacco control. PMID:22199013

7 CFR 51.1156 - Firm.

Science.gov (United States)

2010-01-01

... 7 Agriculture 2 2010-01-01 2010-01-01 false Firm. 51.1156 Section 51.1156 Agriculture Regulations... Standards for Grades of Florida Oranges and Tangelos Definitions § 51.1156 Firm. Firm as applied to common... oranges of the Mandarin group (Satsumas, King, Mandarin), “firm” means that the fruit is not extremely...

Search Results | Page 121 | IDRC - International Development ...

International Development Research Centre (IDRC) Digital Library (Canada)

Are exporting firms superior because only superior firms choose to become exporters ... Access to a variety of external trade finance sources was found to be ... the growth phenomenon of Third World multinational companies requires its own ...

Search Results | Page 126 | IDRC - International Development ...

International Development Research Centre (IDRC) Digital Library (Canada)

Are exporting firms superior because only superior firms choose to become exporters ... Access to a variety of external trade finance sources was found to be ... the growth phenomenon of Third World multinational companies requires its own ...

10 CFR 603.1230 - Commercial firm.

Science.gov (United States)

2010-01-01

... 10 Energy 4 2010-01-01 2010-01-01 false Commercial firm. 603.1230 Section 603.1230 Energy... Used in this Part § 603.1230 Commercial firm. A for-profit firm or segment of a for-profit firm (e.g., a division or other business unit) that does a substantial portion of its business in the commercial...

Solvay: History of a Multinational Family Firm

NARCIS (Netherlands)

Bertrams, K.; Coupain, N.; Homburg, E.

2013-01-01

Ernest Solvay, philanthropist and organizer of theworld-famous Solvay conferences on physics, discovered a profitable way of making soda ash in 1861. Together with a handful of associates, he laid the foundations of the Solvay company, which successfully branched out to other chemicals, plastics,

The Identity of Ownership on Firm Internationalization

DEFF Research Database (Denmark)

Strandskov, Jesper; Madsen, Tage Koed; Pedersen, Bent

2016-01-01

The paper develops an integrative ownership-internationalization model that explores the influences of various owner types (i.e. investor-owned firms, family-owned firms, employee-owned firms, cooperative–owned firms, and state-owned firms) on firm internationalization. Based on a comparative...... analysis of the various owner types, we discuss how each owner group’s main objectives, risk behavior and provision of resources influence their internationalization strategies and decisions (i.e. scale, scope and speed decisions)....

The Role of Firm Ownership on Internationalization

DEFF Research Database (Denmark)

Hobdari, Bersant; Gregoric, Aleksandra; Sinani, Evis

2011-01-01

This paper investigates how different types of owners influence the extent of firm internationalization, measured by the share of firm exports in total sales. The results of the analysis carried out using firm level data of Estonian and Slovenian firms, show that the firms under the control...... in internationalization process. Finally, high market share also leads to increased internationalization through exports as firms seek to expand in foreign markets after having dominated the domestic ones....

Foreign Exchange Exposures of Korean Firms

Directory of Open Access Journals (Sweden)

Sungbin Cho

2011-03-01

Full Text Available We measure foreign exchange exposures as sensitivity of firm's value to FX premium in the CAPM plus FX premium model, and try to find determinants of the exposures; using data of non-financial companies listed in the Korea Exchange from the year 2007 to 2008. Main findings are as follows. If Korean won depreciates, only a small number of firms is benefitted while majority of firms are harmed to the contrary of common knowledge. As a firm's export increases, the foreign exchange exposure increases up to a certain level and after that it declines. And, smaller firms of negative foreign exchange exposures are more sensitive to foreign exchange changes. These suggest heterogeneous effects of foreign exchange rates on industries and firms.

Heterogeneity in Firm Performance During Economic Crisis

Directory of Open Access Journals (Sweden)

Sergio Bruni

2014-06-01

Full Text Available What happens to firms during periods of deep economic crisis? Did different types of firms perform differently under the economic crisis? With the aid of a rich database and focusing on the literature regarding the growth of firms, this paper investigates the relative profitability performance of Italian firms during the current economic crisis, exploring those factors, which help certain firms to do relatively better even in the slowdown period. Some preliminary results show that the Italian firms that are relatively young in age, with relatively better current liquidity and more focused on domestic market have performed better than other firms. Furthermore, firms operating in high-tech and in highly concentrated sectors have enjoyed a better performance in this period.

Firm-Level Productivity and Management Influence: A Comparison of U.S. and Japanese Automobile Producers

OpenAIRE

Marvin B. Lieberman; Lawrence J. Lau; Mark D. Williams

1990-01-01

This study compares the productivity of six major US and Japanese motor vehicle manufacturers---General Motors, Ford, Chrysler, Toyota, Nissan and Mazda---from the early 1950's through 1987. Techniques of productivity measurement, conventionally applied at the level of industries or national economies, are adapted for the analysis of individual firms. Several potential determinants of growth in productivity are evaluated, including economies of scale, adoption of "just-in-time" manufacturing,...

Gibrat's Law and the Firm Size / Firm Growth Relationship in Italian Services

NARCIS (Netherlands)

R. Piergiovanni; E. Santarelli (Enrico); L. Klomp (Luuk); A.R. Thurik (Roy)

2002-01-01

textabstractSeveral surveys on intra-industry dynamics have recently reached the conclusion from a large body of evidence that Gibrat's Law does not hold, i.e., the main finding is that firm growth decreases with firm size. However, almost all of these studies have been based on manufacturing. In

Drivers of Discretionary Firm Donations in Brazil

Directory of Open Access Journals (Sweden)

Rodrigo Bandeira-de-Mello

2008-10-01

Full Text Available Discretionary firm donation is usually related to the stakeholder theory and corporate social performance. Although theoretical explanations for this social behavior are pervasive in related literature, empirical modeling remains underdeveloped. We developed an explanatory structural model of discretionary firm donation using firm and industry level indicators. Unlike previous research, we estimated the explanatory power of the construct we called stakeholder orientation. Our tentative model was tested on a Brazilian sample of 101 publicly traded donor firms, using data on firm donations to social projects and to political candidates in electoral campaigns. The main results suggest that discretionary donation seems to be a strategy for managing conflicting claims in highly stakeholder oriented firms; the characteristics of the firm are more important than industry effects in explaining firm donations; and large firms, showing slack resources, and with a less concentrated ownership structure tend to engage in discretionary donation more intensively.

Foreign Entry and Heterogeneous Growth of Firms

DEFF Research Database (Denmark)

Deng, Paul Duo; Jefferson, Gary H.

We adopt the framework of Schumpeterian creative destruction formalized by Aghion et al. (2009) to analyze the impact of foreign entry on the productivity growth of domestic firms. In the face of foreign entry, domestic firms exhibit heterogeneous patterns of growth depending on their technologic...... manufacturing. Our empirical results confirm that foreign entry indeed generates strong heterogeneous growth patterns among domestic firms.......We adopt the framework of Schumpeterian creative destruction formalized by Aghion et al. (2009) to analyze the impact of foreign entry on the productivity growth of domestic firms. In the face of foreign entry, domestic firms exhibit heterogeneous patterns of growth depending on their technological...... distance from foreign firms. Domestic firms with smaller technological distance from their foreign counterparts tend to experience faster productivity growth, while firms with larger technological distance tend to lag further behind. We test this hypothesis using a unique firm-level data of Chinese...

Winds of change: corporate strategy, climate change and oil multinationals

NARCIS (Netherlands)

Kolk, A.; Levy, D.L.

2001-01-01

Behind pessimistic expectations regarding the future of an international climate treaty, substantial changes can be observed in company positions. Multinationals in the oil and car industries are increasingly moving toward support for the Kyoto Protocol, and take measures to address climate change.

HRM implementation in multinational companies : the dynamics of multifaceted scenarios

NARCIS (Netherlands)

Bos-Nehles, Anna; Bondarouk, Tanya; Labrenz, Soren

2017-01-01

This study explores why the subsidiary line managers of multinational companies (MNCs) implement HRM practices differently than intended by headquarters. HRM implementation is understood as a process in which one has to differentiate between a range of multifaceted HRM implementation scenarios. We

Pre-Interaction Management in Multinational Companies in Central Europe

Science.gov (United States)

Nekvapil, Jiri; Sherman, Tamah

2009-01-01

This article is devoted to the linguistic, communicative and sociocultural situation in branches of multinational companies located in the Czech Republic and Hungary. There are typically several languages used in these branches. In addition to the local languages, there are the languages of the parent companies--most commonly English or German,…

A license to mine? : Community organizing against multinational corporations

NARCIS (Netherlands)

R. Krämer (Romy)

2016-01-01

textabstractWhat does it mean when a corporation claims to have a ‘license to operate’ in a local community? How does a member of an indigenous tribe make it to London to protest against a multinational mining company? How do managers perceive and speak about protest against their company and how

Multi-national knowledge strategies, policy and the upgrading process of regions: Revisiting the automotive industry in Ostrava and Shanghai

NARCIS (Netherlands)

Tuijl, E. van; Carvalho, L.; Winden, W. van; Jacobs, W.A.A.

2012-01-01

This paper revisits how and why new multinational knowledge-based strategies and multi-level governmental policies influence the upgrading process of regions in developing economies. Automotive multinationals traditionally exploited local asset conditions, but it is shown that they have also been

Corporate Profit Shifting and the Multinational Enterprise

OpenAIRE

Webber, Stuart

2012-01-01

This dissertation analyzes ways in which Multinational Enterprises (MNEs) shift profits from one country to another to reduce their income tax expense. This is an important topic for a number of reasons. From a country’s perspective, its income tax rates and policies can have a significant impact upon its tax revenue, economic competitiveness, and the vibrancy of its economy. From the MNE’s perspective, income tax rates and policies determine a firm’s tax obligations, and thus ...

Mapping R&D within Multinational Networks: Evidence from the Electronics Industry

Science.gov (United States)

Urze, Paula; Manatos, Maria João

Based on the final results of the R&D.COM - Local R&D COMpetencies within Global Value Chains project, this paper aims at mapping the trajectories of delocalised R&D units within a multinational’s global strategy and designing the knowledge flows within the global value chain. This analysis was performed using typologies proposed in the theoretical framework, which help us to have an overview of the network. The methodology is grounded on one extended case study that involves a local R&D unit (Portugal), a foreign R&D unit (Netherlands) and the headquarters (Norway) - developed on a multinational from the electronics industry. This case is an example of a multinational company where R&D is developed mainly in the headquarters but it is also delocalised to some subsidiaries with a certain level of autonomy.

Do Treasure Islands Create Firm Value?

DEFF Research Database (Denmark)

Lai, Tat-kei; Ng, Travis

They do! Otherwise, their use would not have been so prevalent among firms. How much firm value they create, however, is still an open question. Exploiting a political event in the U.K. that suddenly raised the cost of using tax havens, we find that there was a 0.87% reduction in cumulative...... abnormal return (CAR) among the sampled firms, corresponding to about £532 million in market capitalization. The firms of stronger corporate governance registered a stronger reduction in CAR. A simple linear extrapolation suggests that the firm value contributed by tax havens can be as much as £31 billion....

A resource based view to small firms' sustainable competitive advantages: A case of Iranian small firms

Directory of Open Access Journals (Sweden)

Ali Reza Babakhan

2012-10-01

Full Text Available During the last decades, the importance of small firms as one of the main economical parts in each country has been proved. Considering to the resources limitation in one hand, and the competitive global market in the other hand, it is very important that firms can obtain sustainable competitive advantages (SCAs to compete with other rivals. This paper, at the first step, tries to explore the potentially SCAs of Qom's small firms by using of Structural Equation Model (SEM. Then, the real current situation of firms in using these competitive advantages has been examined. The results tell that except firms' location, other potentially SCAs do not have acceptable condition.

Do Work-Life Balance Policies Increase a Firm's Total Factor Productivity?: Evidence from panel data of Japanese firms (Japanese)

OpenAIRE

YAMAMOTO Isamu; MATSUURA Toshiyuki

2011-01-01

This paper examines how firms' policies for workers' work-life balance (WLB) affect total factor productivity (TFP) in the long run, by using panel data of Japanese firms from the 1990s. Although we observed a positive correlation between firms' WLB policies and their TFP, once controlling for unobserved firm heterogeneity, we found no causal relationship where WLB policies increase a firm's TFP in the long run. Under the following conditions, however, WLB policies would likely improve a firm...

Agility in a small software firm

DEFF Research Database (Denmark)

Schmidt, Thomas; Mathiassen, Lars

2009-01-01

Small software firms are vulnerable to environmental uncertainty. While agile methods and other technologies offer suggestions to this challenge, we know little about how these firms combine project and firm level capabilities to effectively respond to changes. On this backdrop, we examine a small...... Danish software firm, TeachTech Inc., through the lens of Haeckel's sense-and-respond approach. Our analysis suggests that: the firm has appropriate sense-and-respond cycles, but improving process modularity and human resource flexibility, could increase its ability to respond faster and more effectively......; the firm focuses on specific business goals, but these are not clearly explicated and expressed as empowering governing values enabling a quick and coordinated response; complex and demanding challenges are related to dynamically reassigning commitments and the supporting mechanisms are insufficient...

Cooperation in International Strategic Alliances and Impact on Host Economies

DEFF Research Database (Denmark)

Christoffersen, Jeppe

2013-01-01

Researchers have suggested that linkages between multinational enterprises entering developing countries and local firms can promote knowledge upgrading in local firms. Alliances are a particularly intense type of linkage, and this study investigates how the construct of cooperation, which...

Foreign Firms, Domestic Wages

DEFF Research Database (Denmark)

Malchow-Møller, Nikolaj; Markusen, James R.; Schjerning, Bertel

Many papers have documented a wage premium in foreign-owned and large firms. However, there is very little formal theory in the literature and empirical analyses are typically not based on hypotheses which are rigorously derived from theory. This paper contributes to the theory-empirics gap...... by developing a model that allows for two "pure" explanations for the wage premium. The first is a heterogenous-worker explanation along the lines of Yeaple (2005), where firms that select more scaleintensive technologies select ex-ante more productive workers. In this case, the wage premium is a pure selection...... phenomenon. The second explanation builds on the heterogeneous-firm model of Melitz (2003) combined with on-the-job learning as in Markusen (2001). Productivity differences between firms are internalized by ex-ante homogeneous workers, so the wage premium is a pure learning phenomenon due to ex-post higher...

Multinational cash management and conglomerate discounts in the euro zone

NARCIS (Netherlands)

Eije, Henk von; Westerman, Wim

2001-01-01

We discuss the impact of liberalisation, deregulation and the introduction of a single currency on cash management within multinationals in the euro zone. The developments in the euro zone reduce financial market imperfections in transferring cash and diminish the need for separate local cash

Foreign Firms, Domestic Wages

DEFF Research Database (Denmark)

Malchow-Møller, Nikolaj; Schjerning, Bertel; R. Markusen, James

2013-01-01

Three types of theories have been used to explain the wage premium in foreign firms: the theories of heterogeneous workers, heterogeneous learning, and heterogeneous firms. We set up a model that explicitly encompasses two of these theories, and that can illustrate the third. This unifying...

Location of New Firms

DEFF Research Database (Denmark)

Backman, Mikaela; Karlsson, Charlie

2017-01-01

characteristics, such as the commuting experience. Our results show that commuting influences the firm location choice. The probability of establishing a firm in the work municipality increases if the entrepreneur is a commuter, holding constant the type of region and unobservable and observable individual...

How do Economic Crises Impact Firm Boundaries?

DEFF Research Database (Denmark)

Foss, Kirsten

2010-01-01

How economic crises impact the boundaries of firms has been offered virtually no attention in the literature on the theory of the firm. I review the best-known theories of the firm and identify the variables that matter for the explanation of firm boundaries. I then examine how an economic crisis...... may impact these variables and change efficient firm boundaries. The various theories of the firm have difficulties explaining how firms efficiently adapt their boundaries to such prominent characteristics of economic crisis as declining demand and increased costs of external finance. However, all...... these theories stress uncertainty as an antecedent of firm organization, and as uncertainty is also an important characteristic of an economic crisis I examine how uncertainty is allowed to play out in the various theories in order to identify what predictions we can derive from the theory regarding changes...

Innovative knowledge sharing, supply chain integration and firm performance of Australian manufacturing firms

NARCIS (Netherlands)

Singh, Prakash J.; Power, Damien

2014-01-01

A number of reports show that innovation in Australian manufacturing firms is declining. We propose that better knowledge sharing practices can assist these firms to become more innovative. In this paper, we examine this proposition by empirically testing the relationship between knowledge sharing

Does Labor Diversity Affect Firm Performance?

DEFF Research Database (Denmark)

Pytlikova, Mariola; Pozzoli, Dario; Parrotta, Pierpaolo

/education significantly enhances firm performance as measured by firm TFP. Conversely, diversity in demographics and ethnicity brings mixed results – both dimensions of workforce diversity have either no or negative effects on firm TFP. Hence, it seems as if the negative effects, coming from communication and integration...... costs connected to a more demographically and culturally diverse workforce, counteract the positive effects of diversity on firm TFP, coming from creativity and knowledge spillovers. However, we find that ethnic diversity is valuable for firms operating in industries characterized by above-average trade...... openness, giving support to the hypothesis that an ethnically diverse workforce provides information and access to global markets....

From Knowledge to Firm Performance: An Empirical analysis of Intellectual Capital Impact in Polish and Dutch Listed Firms

Directory of Open Access Journals (Sweden)

Koen Verduijn

2013-09-01

Full Text Available Purpose: Empirical results about the direct relation of knowledge leading to financial performance at a firm is dispersed. This study aims to examine the impact intellectual capital (IC has on firm performance in Polish and Dutch listed firms.Methodology: Quantitative data is collected based on audited annual reports from the top 20 companies listed at the Warsaw Stock Exchange and Amsterdam Stock Exchange between 2007 and 2011. IC is measured using the VAIC methodology with its individual elements of HCE, SCE, and CEE. Direct relations between ICE, HCE, and SCE and five measures of firm performance are statistically analysed.Results: The results suggest that there is a direct positive relationship between ICE and firm performance of Polish and Dutch listed firms, particularly with ROA, ROE, EP, and to a lesser extent with ATO. Firms listed in Poland provide a stronger positive ICE relation to ROA and ROE where firms listed in the Netherlands provide a stronger positive ICE relation to EP. Regarding individual elements, HCE relates highly positive to ROA, ROE, and EP where SCE finds only partial negative relation with ATO.Implications: Nurturing IC and in particular HC confirms the importance of firm knowledge and employees with right training and other support. Additionally, further clarification regarding SC is required.Originality: This paper presents the first study of the IC relationship with firm performance in Poland as well in the Netherlands. Additionally, the comparison between firms of both countries establishes a novelty in IC research.

Procurement with Specialized Firms

NARCIS (Netherlands)

Boone, J.; Schottmuller, C.

2011-01-01

This paper analyzes optimal procurement mechanisms in a setting where the procurement agency has incomplete information concerning the firms’ cost functions and cares about quality as well as price. Low type firms are cheaper than high type firms in providing low quality but more expensive when

Socially acceptable enterprising of the Netherlands in China. Investigation of the performance of Dutch multinationals

International Nuclear Information System (INIS)

Bakker, H.G.M.; Koppert, P.

2005-01-01

An effective tool has been developed by means of which companies can investigate their foreign offices or establishments with respect to people (labor conditions), planet (environmental effects), and profit (economic efficiency). In order to test the tool, offices and establishments of multinational enterprises in both the Netherlands and in China were visited. The Dutch offices perform better than the offices in China, although claims of the main office of the multinationals could not be verified on the 'shop-floor' [nl

Firms, crowds, and innovation.

Science.gov (United States)

Felin, Teppo; Lakhani, Karim R; Tushman, Michael L

2017-05-01

The purpose of this article is to suggest a (preliminary) taxonomy and research agenda for the topic of "firms, crowds, and innovation" and to provide an introduction to the associated special issue. We specifically discuss how various crowd-related phenomena and practices-for example, crowdsourcing, crowdfunding, user innovation, and peer production-relate to theories of the firm, with particular attention on "sociality" in firms and markets. We first briefly review extant theories of the firm and then discuss three theoretical aspects of sociality related to crowds in the context of strategy, organizations, and innovation: (1) the functions of sociality (sociality as extension of rationality, sociality as sensing and signaling, sociality as matching and identity), (2) the forms of sociality (independent/aggregate and interacting/emergent forms of sociality), and (3) the failures of sociality (misattribution and misapplication). We conclude with an outline of future research directions and introduce the special issue papers and essays.

Technological Capability and Firm Performance

Directory of Open Access Journals (Sweden)

Fernanda Maciel Reichert

2014-08-01

Full Text Available This research aims to investigate the relationship between investments in technological capability and economic performance in Brazilian firms. Based on economic development theory and on developed countries history, it is assumed that this relationship is positive. Through key indicators, 133 Brazilian firms have been analyzed. Given the economic circumstances of an emerging economy, which the majority of businesses are primarily based on low and medium-low-technology industries, it is not possible to affirm the existence of a positive relation between technological capability and firm performance. There are other elements that allow firms to achieve such results. Firms of lower technological intensity industries performed above average in the economic performance indicators, adversely, they invested below average in technological capability. These findings do not diminish the merit of firms’ and country’s success. They in fact confirm a historical tradition of a country that concentrates its efforts on basic industries.

An Aspirational Community Theory of the Firm

DEFF Research Database (Denmark)

Li, Xin

propose an aspirational community theory of the firm (ACT) as a candidate theory by conceptualizing the firm as an aspirational community, the core of which is a group of like-minded people sharing similar or same aspiration/vision. To explain the existence of the firm, we make a distinction between......All of the three major theories of the firm, i.e., the transaction cost theory, knowledge-based theory and the entrepreneurship theory, offer some insightful analyses of the nature of the firm. However, they all have limitations and weaknesses in answering the fundamental question of the existence...... of the firm. In addition, they are all partial due to their particular focus on the multifaceted phenomenon of the firm. We argue that it is necessary and sufficient to develop a comprehensive yet integrative theory of the firm that combines the three competing yet complementary logics. Toward this end, we...

Supervision in Firms

OpenAIRE

Vafaï , Kouroche

2012-01-01

URL des Documents de travail : http://centredeconomiesorbonne.univ-paris1.fr/bandeau-haut/documents-de-travail/; Documents de travail du Centre d'Economie de la Sorbonne 2012.84 - ISSN : 1955-611X; To control, evaluate, and motivate their agents, firms employ supervisors. As shown by empirical investigations, biased evaluation by supervisors linked to collusion is a persistent feature of firms. This paper studies how deceptive supervision affects agency relationships. We consider a three-leve...

Merger incentives and the failing firm defense

NARCIS (Netherlands)

Bouckaert, J.M.C.; Kort, P.M.

2014-01-01

The merger incentives between profitable firms differ fundamentally from the incentives of a profitable firm to merge with a failing firm. We investigate these incentives under different modes of price competition and Cournot behavior. Our main finding is that firms strictly prefer exit of the

Strategic Adjustment Capacity, Sustained Competitive Advantage, and Firm Performance: An Evolutionary Perspective on Bird Flocking and Firm Competition

Directory of Open Access Journals (Sweden)

Shou Chen

2017-01-01

Full Text Available Imitating the positioning rules in the bird flocking system, the strategic adjustment capacity is decomposed into three aspects, which are the organizational learning capacity from the top firms, the extent to which firms maintain or rely on the best operational capacity vector in history, and the ability to overcome the disadvantage while maintaining the advantage of the operational capacity vector from the previous years, respectively. Financial vectors are constructed to represent the results of corporate strategic adjustment and listed firms in the China A stock are chosen as the samples. As empirical analysis reveals, there is a positive correlation between the organizational learning capacity from the top firms and the firm performance and a U-shaped relation between the learning capability from the previous best operational capacity vector and the firm performance. However, no significant correlation between the inertia control ability of the current operational capacity vector of the firms and their performance improvement can be observed. This study verifies that the issue of corporate competitiveness and performance can be investigated by utilizing the principles of competition in nature. Moreover, a firm can obtain a sustainable competitive advantage by improving its ability to learn from top firms in the industry.

Personnel motivation in multinational companies : standardization and adaptation

OpenAIRE

Stepanyan, Anna

2016-01-01

With the increasing emergence of multinational companies and the increased popularity of these companies, the question of the organization of their activities becomes interesting for the HR community worldwide. These companies are renowned for deliberate management structure of human resources and their effective use. For effective use of employees’ skills and knowledge the company has to constantly motivate them by intrinsic and extrinsic motivational tools. Motivational tools which use a co...

Strong Firms Lobby, Weak Firms Bribe

DEFF Research Database (Denmark)

Bennedsen, Morten; Feldmann, Sven E.; Lassen, David Dreyer

that are larger, older, exporting, government-owned, are widely held and/or have fewer competitors, have more political influence, perceive corruption to be less of a problem and pay bribes less often; (c) influence increases sales and government subsidies and in general makes the firm have a more positive view...

Stakeholder capitalism, corporate governance and firm value

OpenAIRE

Allen, Franklin; Carletti, Elena; Marquez, Robert

2007-01-01

In countries such as Germany, the legal system is such that firms are necessarily stakeholder oriented. In others like Japan social convention achieves a similar effect. We analyze the advantages and disadvantages of stakeholder-oriented firms that are concerned with employees and suppliers compared to pure shareholder-oriented firms. We show that in a context of imperfect competition stakeholder firms have higher prices and lower output than shareholder-oriented firms. Surprisingly, we also ...

SOCIOLINGUISTIC AND CULTURAL CHARACTERISTICS OF FOREIGN LANGUAGES IN THE MULTINATIONAL STATE

Directory of Open Access Journals (Sweden)

Irina Ivanovna Skachkova

2013-11-01

Full Text Available In the context of globalization and increasing international cooperation in different spheres of life the issue of national security and economic prosperity of nations is becoming increasingly urgent.Purpose: Consideration of sociolinguistic and cultural characteristics of the functioning of foreign languages in a multinational state, the example of the United States.Methodology: We used general scientific methods: analysis and synthesis, comparison, generalization, systematic approach.Results: It is concluded that foreign languages in a multinational state, such as the U.S., are studied through active actions of government, public and educational institutions, and the main purpose of language learning is to maintain national security and economic competitiveness in the international arena.Practical implications: The results of the work may be used both in linguistic theory, and sociolinguistics.DOI: http://dx.doi.org/10.12731/2218-7405-2013-7-51

A Snapshot of the World of Global Multinationals – An Industry Based Analysis of Fortune Global 500 Companies

Directory of Open Access Journals (Sweden)

Ogrean Claudia

2017-08-01

Full Text Available For better or for worse, the “corporations rule the world” assertion is nowadays more actual and accurate than ever before, as multinational companies represent the undisputable engine of the globalization process, and the latter continuously (recreates the background against which global multinationals are flourishing, while reinforcing their “domination”. Since 1995, the Fortune Global 500 ranking (FG 500 annually provides a comprehensive and eloquent image of the world of global multinationals; the merits of the FG 500 ranking go beyond the synchronic approach of the characteristics of global multinationals (in terms of revenues, profits, assets and employees - by sector, industry and country, as it also favors diachronic analysis and comparisons - which are essential for strategists in identifying evolving trends and substantiating corporate strategies able to lead to sustainable competitiveness. The paper aims to determine the contribution of sectors to FG 500 ranking in 2016, on one hand, and to emphasize on some industry-based dynamics in FG 500 - by comparatively analyzing the 2016 and 1996 rankings, on the other hand.

Diversified boundaries of the firm

OpenAIRE

Kimura, Koichiro

2012-01-01

We analyze diversification of boundaries of local firms in developing countries under the economic globalization. The globalization has an aspect of homogenization of the world economy, but also has another aspect of diversification through international economic activities. Focusing on boundary-level of the firm, this article shows that the diversification from a comparison with boundaries of foreign firms in developed countries is brought by a disadvantage of technology deficit and a home a...

Market-Oriented Product Innovation in Small Firms

NARCIS (Netherlands)

Verhees, F.J.H.M.

2005-01-01

Description: This thesis deals with product-innovation in small firms. It aims at a better understanding of the determinants of product innovation in small firms, particularly those determinants that are related to the market orientation of small firms. The focus of the study is on small firms that

Business & IT Alignment in a Multinational Company; Issues and approaches

NARCIS (Netherlands)

Drs. A.J.G. Silvius

This chapter explores the theory and practice of Business & IT Alignment in multinational companies. In the first part of the chapter an overview of the theory is presented. In this part the familiar frameworks for Business & IT Alignment are put in perspective in an ‘Alignment development model’.

The Management of Training in Multinational Corporations: Comparative Case Studies.

Science.gov (United States)

Noble, Charles

1997-01-01

Case studies of British and Australian multinational corporations in the food and drink industry investigated how training and development are managed. Competency-based education and industry boards are important elements in both countries. Lack of a training culture in the industry and little innovation in training were observed. (SK)

Swedish Listed Family Firms and Entrepreneurial Spirit

OpenAIRE

Bjuggren, Per-Olof; Palmberg, Johanna

2008-01-01

This paper investigates the entrepreneurial spirit in Swedish listed family firms. We associate family firms with entrepreneurship in the sense that there is an identifiable person that takes the uninsurable risk in the sense of Knight. This paper analysis two questions: Do entrepreneurial family firms have a higher rate of growth and do they invest in a more profit maximizing fashion than other listed firms? The analysis shows that entrepreneurial family firms in general are smaller in terms...

Advancing Understanding on Industrial Relations in Multinational Companies: Key Research Challenges and the INTREPID Contribution

DEFF Research Database (Denmark)

Gunnigle, Patrick; Valeria, Pulignano; Edwards, Tony

2015-01-01

companies using INTREPID (Investigation of Transnationals’ Employment Practices: an International Database) data. Finally, the paper identifies some of the main industrial relations issues that remain to be addressed, in effect charting a form of research agenda for future work using the INTREPID data......This paper has three principal aims. It firstly provides some theoretical background on the key current research issues and challenges in regard to industrial relations in multinational companies. It then presents a concise review of scholarship to date on industrial relations in multinational...

7 CFR 51.1831 - Fairly firm.

Science.gov (United States)

2010-01-01

... 7 Agriculture 2 2010-01-01 2010-01-01 false Fairly firm. 51.1831 Section 51.1831 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Grades of Florida Tangerines Definitions § 51.1831 Fairly firm. Fairly firm means that the...

24 CFR 200.47 - Firm commitments.

Science.gov (United States)

2010-04-01

... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Firm commitments. 200.47 Section 200.47 Housing and Urban Development Regulations Relating to Housing and Urban Development (Continued... Eligibility Requirements for Existing Projects Commitment Applications § 200.47 Firm commitments. A valid firm...

7 CFR 51.774 - Fairly firm.

Science.gov (United States)

2010-01-01

... 7 Agriculture 2 2010-01-01 2010-01-01 false Fairly firm. 51.774 Section 51.774 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Grades of Florida Grapefruit Definitions § 51.774 Fairly firm. Fairly firm means that the...

7 CFR 51.2843 - Fairly firm.

Science.gov (United States)

2010-01-01

... 7 Agriculture 2 2010-01-01 2010-01-01 false Fairly firm. 51.2843 Section 51.2843 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Fairly firm. Fairly firm means that the onion may yield slightly to moderate pressure but is not...

7 CFR 51.3204 - Fairly firm.

Science.gov (United States)

2010-01-01

... 7 Agriculture 2 2010-01-01 2010-01-01 false Fairly firm. 51.3204 Section 51.3204 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Grades of Bermuda-Granex-Grano Type Onions Definitions § 51.3204 Fairly firm. Fairly firm...

7 CFR 51.1167 - Fairly firm.

Science.gov (United States)

2010-01-01

... 7 Agriculture 2 2010-01-01 2010-01-01 false Fairly firm. 51.1167 Section 51.1167 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Grades of Florida Oranges and Tangelos Definitions § 51.1167 Fairly firm. Fairly firm as...

Entrepreneurship and the Economics of the Firm

DEFF Research Database (Denmark)

Foss, Nicolai Juul

The study of entrepreneurship and the study of economic organizing lack contact. In fact, the modern theory of the firm virtually ignores entrepreneurship, while the literature on entrepreneurship often sees little value in the economic theory of the firm. In contrast, we argue in this chapter...... that entrepreneurship theory and the theory of the firm can be usefully integrated, and that doing so would improve both bodies of theory. Adding the entrepreneur to the theory of the firm provides a dynamic view that the overly static analysis of firm organizing cannot support. Moreover, adding the firm to the study...... of the entrepreneur provides important clues to how we can understand entrepreneurship....

The market for firms

DEFF Research Database (Denmark)

Davis, Jerome Dean; Keiding, Hans

2010-01-01

and as a consequence a higher sales value of the firm. Buyers take this signaling into consideration, but irrespective of their countermoves, the equilib- rium result may be a lowering of ex ante product prices, and an ex post market overvaluation of the firm. This model is utilized to suggest possible explanations...

7 CFR 51.705 - Fairly firm.

Science.gov (United States)

2010-01-01

... 7 Agriculture 2 2010-01-01 2010-01-01 false Fairly firm. 51.705 Section 51.705 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... § 51.705 Fairly firm. Fairly firm as applied to common oranges, means that the fruit may be slightly...

7 CFR 51.1012 - Fairly firm.

Science.gov (United States)

2010-01-01

... 7 Agriculture 2 2010-01-01 2010-01-01 false Fairly firm. 51.1012 Section 51.1012 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing... Standards for Persian (Tahiti) Limes Definitions § 51.1012 Fairly firm. Fairly firm means that the fruit is...

The Dividend Policy of German Firms

NARCIS (Netherlands)

Andres, C.; Betzer, A.; Goergen, M.; Renneboog, L.D.R.

2008-01-01

Abstract: German firms pay out a lower proportion of their cash flows, but a higher proportion of their published profits than UK and US firms. We estimate partial adjustment models and report two major findings. First, German firms base their dividend decisions on cash flows rather than published

The Dividend Policy of German Firms

NARCIS (Netherlands)

Andres, C.; Betzer, A.; Goergen, M.; Renneboog, L.D.R.

2008-01-01

German firms pay out a lower proportion of their cash flows, but a higher proportion of their published profits than UK and US firms. We estimate partial adjustment models and report two major findings. First, German firms base their dividend decisions on cash flows rather than published earnings as

The financing of innovative firms

OpenAIRE

Hall, Bronwyn H.

2009-01-01

To what extent are new and/or innovative firms fundamentally different from established firms, and therefore require a different form of financing? The theoretical background for this proposition is presented, and the empirical evidence on its importance is reviewed. Owing to the intangible nature of their investment, asymmetric-information and moral-hazard, these firms are more likely to be financed by equity than debt and behave in some cases as though they are cash-constrained, especially ...

The innovative behaviour of tourism firms

DEFF Research Database (Denmark)

Sundbo, Jon; Orfila-Sintes, Francina; Sørensen, Flemming

2007-01-01

Tourism firms operate in a competitive sector where innovating is often a condition for survival. This article presents a theoretical framework for understanding tourist firms’ innovative behaviour and innovation systems in tourism. The innovativeness of tourism firms and its determinants...... systems. The article suggests that large size, professionalism, but also entrepreneurship among small tourism firms are important determinants of innovation. Varied innovation networks are another determinant as are supportive innovation systems. These determinants favour Spanish firms, which are more...... are investigated by analysing quantitative as well as qualitative data comparing Spain and Denmark. A taxonomy of tourism firms is suggested and the firms’ characteristics which influence their innovativeness are presented. Additionally, the role of innovation networks is discussed, as is the role of innovation...

The theory of the firm. Vol. 3

DEFF Research Database (Denmark)

as an information processor. In addition, the collection features perspectives from business strategy and business history as well as methodological and doctrinal historical perspectives. Including over 60 classic papers, these volumes collect together contributions on the theory of the firm, beginning with Ronald......Firms have for a long time been part of the explanatory set-up of economics. However, it is only recently that economists have felt the need for an economic theory addressing: why firms are different; why firms exist; what determines their boundaries relative to "the market"; and what determines...... their internal organization. This collection documents the rise of the modern theory of the firm during the last two to three decades. It reprints classic writings from a diversity of perspectives, including not only contractual theories of the firm, but also knowledge-based theories and theories of the firm...

Views of CEOs on Firm Performance

Directory of Open Access Journals (Sweden)

Dario Berginc

2014-11-01

Full Text Available Researching the managerial perspective of performance can contribute to a better understanding of firm performance, and offer a valuable contribution to research on objective performance measurement. The aim of this article is to examine how managers evaluate firm performance and which factors, in their opinion, have the biggest influence on performance. We particularly wanted to investigate the influence of top management and owners on firm performance. We conducted a qualitative study among the CEOs of some of the most successful Slovenian firms. The results show that CEOs connect positive performance with long-term growth and satisfying the needs of key stakeholders (employees, customers and owners, but short-term positive financial performance represents the basic foundation. The second most important factor is a united top management, capable of generating new ideas and acting as a role model to employees. This can lead to a higher degree of engagement by employees and a better understanding of the firm's goals. Owners can contribute to a positive firm performance with their active, strategic and long-term orientation, and with their ability to set clear goals and to trust top management in the long run. Another important factor that influences firm performance is the ownership structure. In the opinion of CEOs, dominant and private ownership has a more positive impact on firm performance than dispersed and state ownership. The present research findings provide several examples of good and bad practice, and highlight opportunities for further research, from an in-depth study of individual factors of firm performance to the search for a more comprehensive model of performance factors, based on a larger sample of CEOs and other managers.

7 CFR 51.643 - Fairly firm.

Science.gov (United States)

2010-01-01

... 7 Agriculture 2 2010-01-01 2010-01-01 false Fairly firm. 51.643 Section 51.643 Agriculture Regulations of the Department of Agriculture AGRICULTURAL MARKETING SERVICE (Standards, Inspections, Marketing...) Definitions § 51.643 Fairly firm. Fairly firm means that the fruit may be slightly soft, but not bruised, and...

Danish Multinational Corporations in China

DEFF Research Database (Denmark)

Haakonsson, Stine Jessen

2017-01-01

markets, which are significantly different from MNCs' traditional locations. As globalisation progresses, internationalisation increasingly involves exploitation strategies, i.e., offshoring of production; market access; and exploration strategies such as internationalisation of innovation. This article......Multinational corporations (MNCs) strategise in a dynamic multi-polar world consisting of changing environments at home and abroad. They continuously face a new set of push- and pull-factors for internationalising activities. In recent decades, internationalisation has been reaching into emerging...... looks into how Danish MNCs have evolved into the Chinese economy, investigating the trajectories of how and when four Danish MNCs entered the Chinese economy and how the strategy patterns have emerged from cost reduction, to market access, and recently to innovation. Over 30 years, China has developed...

Does Labour Diversity affect Firm Productivity?

DEFF Research Database (Denmark)

Parrotta, Pierpaolo; Pozzoli, Dario; Pytlikova, Mariola

Using a matched employer-employee dataset, we analyze how workforce diversity in cultural background, education and demographic characteristics affects productivity of firms in Denmark. Implementing a structural estimation of the firms' production function (Ackerberg et al., 2006) we find...... diverse workforce, seem to outweigh the positive effects coming from creativity and knowledge spillovers....... that labor diversity in education significantly enhances a firm's value added. Conversely, diversity in ethnicity and demographics induces negative effects on firm productivity. Hence, the negative effects, coming from communication and integration costs connected to a more culturally and demographically...

Commercialization of Innovations and Firm Performance

DEFF Research Database (Denmark)

Madsen, Erik Strøjer; Smith, Valdemar

The decision on investment in R&D is very important and highly risky for firms' performance and survival in their business. This paper focuses on the commercialization of firms' investment in innovation and how these decisions affect their performance. The study uses a large innovation survey...... of Danish firms holding information on their R&D investment as well as their expenses on marketing which gives knowledge of the commercialization of their innovations. The results suggest a highly significant commercialization of innovation, which means that firms' follows a strategy of investment both...

Industrial environmental practices in Polish Firms

DEFF Research Database (Denmark)

Kræmer, Trine Pipi

, and environment. The five case firms all had a Communist past. The firms represent three different industrial sectors; i.e. textile, energy, and publishing and printing industries. Furthermore, the firms are both private and state owned as well as in the process of privatisation.......The study investigates how discursive developments in Poland interact with industrial environmental practices in five production firms. The analysis of the discursive development covers the period from the end of World War I to the turn of the century. The areas in focus are identity, industry...

21 CFR 7.46 - Firm-initiated recall.

Science.gov (United States)

2010-04-01

... 21 Food and Drugs 1 2010-04-01 2010-04-01 false Firm-initiated recall. 7.46 Section 7.46 Food and....46 Firm-initiated recall. (a) A firm may decide of its own volition and under any circumstances to remove or correct a distributed product. A firm that does so because it believes the product to be...

Survey of metallo-beta-lactamase-producing Enterobacteriaceae colonizing patients in European ICUs and rehabilitation units, 2008-11

NARCIS (Netherlands)

Papagiannitsis, C. C.; Izdebski, R.; Baraniak, A.; Fiett, J.; Herda, M.; Hrabak, J.; Derde, L. P. G.; Bonten, M. J. M.; Carmeli, Y.; Goossens, H.; Hryniewicz, W.; Brun-Buisson, C.; Gniadkowski, M.

Objectives: The objective of this study was to perform a multinational survey of patients' colonization by metallo-beta-lactamase (MBL)-producing Enterobacteriaceae, including their molecular characterization. Methods: Patients in 18 hospital units across Europe and Israel (n = 17945) were screened

Web traffic and firm performance

DEFF Research Database (Denmark)

Farooq, Omar; Aguenaou, Samir

2013-01-01

Does the traffic generated by websites of firms signal anything to stock market participants? Does higher web-traffic translate into availability of more information and therefore lower agency problems? And if answers to above questions are in affirmative, does higher web-traffic traffic translate...... into better firm performance? This paper aims to answer these questions by documenting a positive relationship between the extent of web-traffic and firm performance in the MENA region during the 2010. We argue that higher web-traffic lowers the agency problems in firms by disseminating more information...... to stock market participants. Consequently, lower agency problems translate into better performance. Furthermore, we also show that agency reducing role of web-traffic is more pronounced in regimes where information environment is already bad. For example, our results show stronger impact of web...

Commercialization of Innovations and Firm Performance

DEFF Research Database (Denmark)

Madsen, Erik Strøjer; Smith, Valdemar

The decision on investment in R&D is very important and highly risky for firms' performance and survival in their business. This paper focuses on the commercialization of firms' investment in innovation and how these decisions affect their performance. The study uses a large innovation survey...... of Danish firms holding information on their R&D investment as well as their expenses on marketing which gives knowledge of the commercialization of their innovations. The results suggest a highly significant commercialization of innovation, which means that firms' follows a strategy of investment both...... in innovation and marketing making R&D and marketing complements in their investment decision. However, there is only week evidence for the hypothesis that commercialization of innovations also creates more value for the firms in the short run....

Determinants of CEO Turnover in Publicand Private Firms in Denmark - CEO and Firm Characteristics

DEFF Research Database (Denmark)

Sponholtz, Carina

In this study we are the first to draw on longitudinal matched employer-employee data to study CEO turnover. Using this data we contribute tothe existing literature by examining the e¤ect of previously unstudied in-dividual characteristics on CEO turnover. Additionally, we are able toexamine CEO...... turnover. Finally, the inverse relationshipbetween firm performance and CEO turnover only exists in LLL firms(larger limited liability firms, both publicly and privately held), whereagency costs are assumed and found to be highest.In this study we are the first to draw on longitudinal matched employer-employee...... turnover across a variety of firm types that di¤er with re-spect to the corporate governance issues they face. Our simple methodol-ogy to define CEO turnover results in turnover rates similar to those foundpreviously. Our results indicate that CEO characteristics are an important factor in explaining CEO...

Performance of Patenting Firms in Danish Manufacturing

DEFF Research Database (Denmark)

Madsen, Erik Strøjer; Smith, Valdemar; Nielsen, Anders Østergaard

2000-01-01

Most countries focus on industries with high technology and the governments grant subsidies to innovating firms. However, there has been remarkable few studies of the performance of innovative firms or industries. This study examines the performance of patent active firms compared to the non-patenting...... firms within the manufacturing sector in Denmark. Performance is measured both by growth in employment as well as in the return on equity and profit share in turnover. The results suggest that differences in performance of patenting and non-patenting firms are very small, which questions the political...

Are Family Firms Better Performers during Financial Crisis?

DEFF Research Database (Denmark)

Zhou, Haoyong

(Italy) during the period 2006-2010, I give empirical evidences examining the performance of family firms vis-à-vis non-family firms during the current financial crisis. I find that broadly defined family firms, comprising 35 percent of the sample, do not outperform non-family firms during the crisis...... that in the financial crisis, founder firms bear the least agency cost and Tobin’s Q is not a good measure of corporate performance.......Despite extensive researches on efficiency of family firms in normal or good economic times, we know rather little about whether family firms are superior performers in recession times. Using a dataset covering firms from S&P 500 (US), FTE100 (UK), DAX 30 (Germany), CAC 40 (France) and FTSE MIB 40...