Business Commons^™

The Wto Trade Effect, Pao Li Chang, Myoung-Jae Lee

Research Collection School Of Economics

This paper reexamines the GATT/WTO membership effect on bilateral trade flows, using nonparametric methods including pair-matching, permutation tests, and a Rosenbaum (2002) sensitivity analysis. Together, these methods provide an estimation framework that is robust to misspecification biases, allows general forms of heterogeneous treatment effects, and addresses potential hidden selection biases. This is in contrast to most conventional parametric studies on this issue. Our results suggest large GATT/WTO trade-promoting effects, robust to various restricted matching criteria, alternative indicators for GATT/WTO involvement, different matching methodologies, non-random incidence of positive trade flows, and inclusion of multilateral resistance terms.

How Employees With Different National Identities Experience A Geocentric Organizational Culture Of A Global Corporation: A Phenomenological Study, Maria S. Plakhotnik

FIU Electronic Theses and Dissertations

A global corporation values both profitability and social acceptance; its units mutually negotiate governance and represent a highly interdependent network where centers of excellence and high-potential employees are identified regardless of geographic locations. These companies try to build geocentric, or “world oriented” (Marquardt, 1999, p. 20), organizational cultures. Such culture “transcends cultural differences and establishes ‘beacons’ – values and attitudes – that are comprehensive and compelling” (Kets de Vries & Florent-Treacy, 2002, p. 299) for all employees, regardless of their national origins. Creating a geocentric organizational culture involves transforming each employee’s mindset, beliefs, and behaviors so that he/she can become …

Carnival Corporation & Plc, Ye Zhou

MBA Student Scholarship

Carnival Corporation & plc is a global cruise company and one of the largest vacation companies in the world. This paper researches the company by analyzing environmental factors, strategic position within the cruise industry and competitive advantages. After reviewing company's strategic history, this paper evaluates the effectiveness of the company's present strategies (Carnival Corporation and PLC, 2010b).

Developing A Culturally Responsive Classroom Collaborative Of Faculty, Students, And Institution, Paul J. Colbert

MBA Faculty Conference Papers & Journal Articles

Culture is integral to the learning process. It is the organization and way of life within the community of students and teachers and directs the way they communicate, interact, and approach teaching and learning. Although founded in particular values and principles, the academy, like most organizations, is impacted day-to-day by its culture. Yet, the traditional higher education institution has not been designed to operate within a racially or ethnically diverse student population. The social, political, economic, and cultural forces that support the institution influence the teaching and learning environments. To better address cultural diversity in the classroom, faculty must first …

Global Diffusion Of The Internet Xvi: The Role Of Economic Development And Firm Internationalization In Internet Business Practices, Jonathan W. Whitaker, Nigel Melville, Robert Plice, Jason Dedrick

Management Faculty Publications

Firms from emerging economies are rapidly becoming formidable competitors to established industry leaders from developed economies. Aside from anecdotal reports, there is little scholarly evidence concerning the operational details of how emerging economy firms are becoming competitive with developed economy firms. This article addresses the gap by building on the International Business, Strategy and Information Systems literature, and through an empirical analysis of original survey data for 468 firms across ten countries. We develop three primary empirical findings. First, despite the differences between emerging economy firms and developed economy firms, we find that emerging economy/high internationalization firms use marketing- and …

Turkey: Another $1 Trillion Emerging Economy?, Murat Doral

Faculty and Research Publications

The strategic location of Turkey makes it a very important country in terms of geopolitics as well as economics. Turkey is located at the crossroads of Europe, Asia, the Caucasus, and the Middle East. It is where East meets West without clashing with each other but merging with each other. Even though, industry, trade, and finance are all dominated by the expansive and crowded Istanbul, other cities and towns in Anatolia –the Anatolian Tigers- are industrializing rapidly and now participating in the global economy. Today, Turkey has the largest economy in the greater Middle East. Depending of the source, Turkey …

Application Of The Fractional Diffusion Equation For Predicting Market Behaviour, Jonathan Blackledge

Articles

Most Financial modelling system rely on an underlying hypothesis known as the Eficient Market Hypothesi (EMH) including the famous BlackScholes formula for placing an option. However, the EMH has a fundamental flaw: it is based on the assumption that economic processes are normally distributed and it has long been known that this is not the case. This fundamental assumption leads to a number of shortcomings associated with using the EMH to analyse financial data which includes failure to predict the future volatility of a market share value. This paper introduces a new financial risk assessment model based on Levy statistics …

U.S.-Based Fast-Food Restaurants: Factors Influencing The International Expansion Of Franchise Systems, Ilan Alon, Liqiang Ni

Faculty Publications

Studies of international franchising are scant, but increasing, and can be divided into two streams of research: those focusing on environmental predictors of internationalization and those focusing on strategic, firm-level characteristics. Examingin the latter category, this study empirically explores a set of firm-level attributes as predictors of decision-making on whether or not firms seek international expansion. using longitudinal data from Bond's Franchise Guide 2001-2000, we draw on a sample of U.S.-based fast-food franchise systems to test our hypotheses. Specifically, out database is comprised of 1,058 observations of 158 chains and we estimate a semi-parametric logistic modlel for international franchising. The …

Federal Swap Program, Creating Jobs, And Trade Equilibrium, Narendra C. Bhandari

Faculty Working Papers

No abstract provided.

Private Litigation In A Public Law Sphere:The Standard Of Review In Investor-State Arbitrations, William W. Burke-White, Andreas Von Staden

All Faculty Scholarship

International arbitration and, particularly, investor-state arbitration is rapidly shifting to include disputes of a public law nature. Yet, arbitral tribunals continue to apply standards of review derived from the private law origins of international arbitration, have not recognized the new public law context of these disputes, and have failed to develop a coherent jurisprudence with regard to the applicable standard for reviewing a state's public regulatory activities. This problematic approach is evidenced by a recent series of cases brought by foreign investors against Argentina challenging the economic recovery program launched after a massive financial collapse and has called into question …

Ua37/29 Gary Ransdell - Fed. Reserve Board - Challenges For The Economy & State Governments, St. Louis Federal Reserve Board

Faculty/Staff Personal Papers

Email sent to members of the St. Louis Federal Reserve Board of Ben Bernanke's speech Challenges for the Economy and State Governments.

Middle Managers' Searching For Knowledge: The Repository-Interpersonal Dilemma, Esther Tippmann, Pamela Sharkey Scott, Vincent Mangematin

Conference Papers

Drawing on the organizational memory and strategy for managing knowledge literatures to develop a theoretical framework, we empirically examined the organizational memory contexts – interpersonal and repository logic - that set the broader conditions for middle managers’ knowledge searching. Contrary to most studies which examine knowledge storage processes, with the help of multiple case studies, we examined middle managers’ actual activities. Our findings reveal that in the interpersonal logic middle managers more actively engage in knowledge circulation and knowledge co-creation processes. In the repository logic instead, middle managers’ potential seemed to become confined because of cognitive inertia, leading to a …

International Clustering And Foreign Subsidiary Performance, Jing'an Tang

WCBT Faculty Publications

The article discusses the development and testing of a network-based model of international clustering and foreign subsidiary performance in an attempt to determine how multinational companies (MNC) enter a foreign country to build their own foreign cluster. It focuses on the foreign peer network (FPN) to incorporate both the social and economic interactions within a cluster. An FPN is described as a set of social and economic relations among a group of foreign subsidiaries that are from the same home country and run same or similar businesses within a common geographic area in the host country. The initial condition of …

Discourse At The Edge: Enterprise Discourse In Ireland, Brendan O'Rourke

Conference papers

Ireland is an economy, society and culture at the edge. It is at the edge of Europe and at the edge of both USA/UK and more mainland European or EU variants of capitalism. More recently it has been at the edge of economic crisis. Yet enterprise discourse is still central in Ireland. Enterprise discourse in Ireland is influenced by global and European Union (EU) developments. However, Irish enterprise discourse is not merely a ‘local adoption’. For example, high Irish economic growth rates during the ‘Celtic Tiger’ period have coincided with the development of the EU’s enterprise policy, thus giving the …

Mir Talks To Vinita Bali, Managing Director And Ceo Of Britannia Industries, Srinivas K. Reddy

Research Collection Lee Kong Chian School Of Business

Today we live in a truly global economy, no matter whether we talk about goods, services or manpower. Whereas economic growth rates in Europe and North America remain moderate, many Asian countries are booming despite last year´s economic downturn. This is reason enough for MIR to take a closer look at one of the rising stars: India. In June 2010, MIR talked to Vinita Bali, one of the few female CEOs of leading companies, who has worked in influential marketing positions on five continents. In describing how Britannia, one of the most famous Indian brands, handles everyday business and marketing …

Off The Cliff And Back? Credit Conditions And International Trade During The Global Financial Crisis, Davin Chor, Kalina Manova

Research Collection School Of Economics

We study the collapse of international trade flows during the global financial crisis using detailed data on monthly US imports. We show that credit conditions were an important channel through which the crisis affected trade volumes, by exploiting the variation in the cost of capital across countries and over time, as well as the variation in financial vulnerability across sectors. Countries with higher interbank rates and thus tighter credit markets exported less to the US during the peak of the crisis. This effect was especially pronounced in sectors that require extensive external financing, have limited access to trade credit, or …

Assessing The Export Competitiveness Of Chinese Industries, Marc Fetscherin, Ilan Alon, James P. Johnson

Faculty Publications

This article presents a framework for measuring, illustrating and comparing industry export competitiveness that takes into account (i) industry specialization, (ii) industry export growth rate and (iii) relative industry size. We apply the framework to a data set of 97 different industries from China over a 5-year period (2001–2005). According to our results, over 70 per cent of Chinese industries are ‘dynamic’, meaning that their export growth is higher than the world average export growth. Almost 50 per cent of the Chinese industries examined are competitive in global markets, with 20–25 per cent of the world export market share in …

Ua37/29 Gary Ransdell - Fed. Reserve Board - Ben Bernanke Committee On Budget, St. Louis Federal Reserve Board

Faculty/Staff Personal Papers

Email sent to members of the St. Louis Federal Reserve Board of testimoney by Ben Bernanke before the Committee on the Budget, U.S. House of Representatives.

30 Years Of Foreign Direct Investment To China: An Interdisciplinary Literature Review, Marc Fetscherin, Hinrich Voss, Philippe Gugler

Faculty Publications

The purpose of this paper is to examine how scholarly research on Foreign Direct Investment (FDI) to the People’s Republic of China has evolved and been shaped using bibliometrics analysis of 422 journal articles published in 151 journals between 1979 and 2008 on that topic. The literature is dominated by the fields of Economics, followed by Business and Management, Planning and Development and International Relations, which together account for 95% of all publications. Ten percent of the most productive journals are responsible for 40% of all publications and 63% of all citations received. By means of citation mapping, four main …

Trade Equilibrium, Trade Deficits, And Jobs, Narendra C. Bhandari

Faculty Working Papers

The U.S. sacrifices about ten full time jobs for each million dollars of net imports of goods and services. Its billions of dollars in trade deficit is the primary reason behind its millions of job losses. Loss of jobs, in turn, decreases income, demand, investment, and tax revenues. Budget deficits enlarge and programs of public and social care are curtailed.

“Trade Equilibrium,” naturally, is the principal solution. In the short term it will put a stop on additional jobs exports. Over the years, it will also create net new jobs. There is no other long lasting practical way out of …

Competition, Competitiveness And 'Created' Competitive Advantages: Re-Positioning The Singapore 'Advantage' In China, India, Vietnam And Indonesia, Caroline Yeoh

Research Collection Lee Kong Chian School Of Business

No abstract provided.

Growth And Survival Of International Joint Ventures: An External-Internal Legitimacy Perspective, Jane W. Lu, Dean Xu

Research Collection Lee Kong Chian School Of Business

The authors examine the growth and survival of international joint ventures (IJVs) from a legitimacy perspective. In a sample of 291 Sino-Japanese joint ventures in China, they found that Chinese parent age, Chinese parent size, and IJV industry relatedness to either parent had a positive effect on IJV growth and/or survival. However, IJV industry relatedness to both parents led to lower rates of IJV growth and survival. The findings highlight the importance for IJVs to obtain both external and internal legitimacy, as well as the difficulties IJVs face in acquiring internal legitimacy from both parents simultaneously.

Foreign Direct Investment And Macroeconomic Changes In Cee Integrating In To The Global Market, Lucyna Kornecki

Accounting, Economics, Finance, and Information Sciences - Daytona Beach

This study relates to the post communist era in the Central and Eastern Europe (CEE) and focuses on foreign direct investment (FDI) as a factor facilitating the globalization process while stimulating economic growth in the host countries. The first part of this study describes the globalization process and inward FDI performance index (CEE vs. World). The second part reflects macroeconomic changes in the post communist CEE and examines macroeconomic indicators, including GDP per capita, economic growth rate, unemployment and inflation. The third section focuses on the association between inward FDI stock and economic growth in the CEE.

Fair Value Accounting: Affect On The Auditing Profession, Danny A. Pannese, Alan Delfavero

WCBT Faculty Publications

During this period of global markets, multinational corporations are demanding financial accounting standards with enhanced uniformity. In an effort to achieve this objective, the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) have been working together on the Convergence Project, aiming to develop accounting standards that closely correlate with international financial reporting standards. In September 2006 and February 2007, the FASB issued two key fair value accounting (FVA) standards which focused on providing guidelines for fair value measurement (through a classification hierarchy), expanding disclosure requirements, and also allowing business entities to increase FVA's application. However, the …

Extending Economic Boundaries: A Note On Singapore's Gambit In Indonesia And India, Caroline Yeoh, Siang Yeung Wong

Research Collection Lee Kong Chian School Of Business

No abstract provided.

Transnational Integration Regimes As Development Programs, Laszlo Bruszt, Gerald A. Mcdermott

Faculty Publications

In drawing on recent advances in international and comparative political economy, this paper argues that diverging paths of institutional development among emerging market democracies are driven by the Transnational Integration Regimes (TIRs), in which a country is embedded.

As development programs, TIRs differ in their effectiveness not simply in terms of their incentives and largess and more in terms of their emphasis on building institutional capacities, empowering a variety of domestic state and non-state actors via multiplex methods of assistance and monitoring, and their ability to merge monitoring and learning at both the national and supra-national levels. We develop a …

Ua37/29 Gary Ransdell - Fed. Reserve Board - Ben Bernanke, Joint Economic Committee, St. Louis Federal Reserve Board

Faculty/Staff Personal Papers

Question and answers from Ben Bernanke's appearance before the Joint Economic Committee as distributed to members of the St. Louis Federal Reserve Board.

Testing The Impact Of Global Mindset On Positive Organizational Outcomes: A Multi-Level Analysis, Joana S. Story

Department of Agricultural Leadership, Education and Communication: Dissertations, Theses, and Student Scholarship

This multi-level study examined the relationship between leaders’ global mindset with followers’ rating of trust in leader, quality of the leader-member relationship (LMX), and organizational commitment. Complexity of global role and leader distance were also examined as moderating variables. Data were collected from 78 leader participants and 240 raters from one Fortune 100 multinational organization. A multilevel data analysis was conducted using Hierarchical Linear Modeling. No significant relationships were found between global mindset and ratings of follower trust in leader and quality of the leader-member-relationship. A significant negative relationship was found between global mindset of leaders and follower organizational commitment. …

A Tale Of Two Standards: An Exploration Of Us Gaap And Ifrs, Allyson Lagasse

Honors Projects in Accounting

The research in this paper has two objectives. Beginning with an examination of the historical development of how financial reporting standards are set in the United States and around the world, the Financial Accounting Standards Board and the International Accounting Standards Board will be studied. Setting financial reporting standards in the United States is currently a responsibility of the Financial Accounting Standards Board, while many countries abroad utilize International Financial Reporting Standards, maintained by the International Accounting Standards Board. After detailing the historical development of each of the two boards and the sets of standards they maintain, the paper continues …

Does The ‘Ease Of Doing Business’ In A Country Influence Its Foreign Direct Investment Inflows?, Katherine Piwonski

Honors Projects in Finance

Foreign direct investment has been studied for years. It is generally accepted as a positive influence on the domestic market and governments have begun actively seeking it out. This study is meant to possibly connect government actions, for which the World Bank’s ‘Doing Business Index’ was used as a proxy, to an increase in foreign direct investment inflows. The goal of this study is to help governments make more informed decisions about if and how to attract foreign direct investment. The research was done by running a regression model to find a connection between changes in foreign direct investment inflows …