Business Commons^™

Latin American Participation In The Current Process Of Economic Globalization, Sullivan D. Padgett

Journal of Global Awareness

From World War II to the present, Latin America has participated in the current process of economic globalization to varying degrees. The Washington Consensus of the late twentieth century supplanted the region’s earlier model of state-led development and increased its participation in the global capitalist regime. However, Latin America has shown minimal participation in the current process of economic globalization since the late 2000s and, instead, espouses regionalization. Nevertheless, regionalization has proven to be an arduous undertaking in Latin America, especially with China’s increasing regional influence. Variations of benefits are discussed, and recommendations are offered. While the future of Latin …

Economic Effects Of Pandemic On Us And Indian Economies With Policy Actions In 2019-2023: A Comparative Analysis, Kishore Kukarni Dr., Amitabh S. Dutta

International Review of Business and Economics

COVID 19 pandemic that started in February/March 2019, with happenings in Yuwan, China spread like a wildfire all over the world. All countries faced one of the worst economic challenges in recent centuries if not ever in the history of the mankind. Early predications were so severe and devastating that some forecasters predicted a death-toll of 100 million all over the world, as the virus was not only spreading fast but also had no solution for its serious fatal effects. It was evident that the patients were dying before getting any effective treatments and many of them were elderly individuals. …

Selecting A Measurement System: Using Measurement System Potential Approval Criteria, Karl D. Majeske

International Review of Business and Economics

This paper presents the results of a manufacturer’s quest to identify a measuring strategy during process development. Standard Measurement Systems Analysis (MSA) criteria provide a common framework to evaluate a gauge’s ability to produce data that fairly represents the quality characteristics that describe a part’s fitness for use. Here, MSA criteria, as well as hypothesis tests of precision and bias, are used to compare to two alternative measurement systems. Ultimately, to compare the two systems, measures of MSA criteria are developed that reflect the potential the criteria could reach by eliminating operator-to-operator gauge error.

Misgivings In Measuring Happiness, Sudhanva Char

International Review of Business and Economics

According to a resolution of the UN General Assembly (Resolution 66/281), March 20^th is observed annually as International Day of Happiness. A nation’s overall success is measured by people’s happiness, the litmus test. The World Happiness Report (WHR) states there is consensus about measuring happiness, whereas, happiness is idiosyncratic and its connotation differs from culture to culture, language to language, and even person to person. Personal ‘space’ in all spheres matters, and so do democracy or dictatorship, all factors leading to mismeasures of happiness scores. And so, there are paradoxes in happiness rankings in WHR. Economists have yet to …

The Impact Of Fdi And Financial Depth On Eu Regional Growth: Income And Spatial Heterogeneity, Marialena Petrakou, Randolph Luca Bruno, Nick Phelps

Economic and Business Review

Background and objective: The paper explores the impact of foreign direct investment and financial development on regional growth at the EU regional level for 2005–2017. Both FDI and financial development are important determinants of the regions’ growth, but not for all EU regions homogeneously. Some EU regions seem to benefit more than others, depending on certain characteristics, which implies that FDI attraction policies need to bear in mind not only country specificities, but also regional specificities, hence confirming the need for developing FDI attraction policies at the subnational level: financial development, capacity building, and Investment Promotion Agencies are key, …

Macroeconomic Drivers, Governance, And Foreign Direct Investment In Central And Eastern European Countries (Ceecs), Parfait Bihkongnyuy Beri, Gabriel Mhonyera

Economic and Business Review

Background and objective: The transition to market-oriented economies in CEECs entailed significant structural economic and institutional reforms. Over the past years, studies have investigated how these reforms affected foreign direct investment (FDI) inflows. However, the evidence remains debatable and varies across countries. This study provides new insights by considering the impact of macroeconomic factors, governance, and the moderating effect of governance on the macroeconomic drivers–FDI nexus.

Methods: A panel of 12 countries from 1991 to 2020 are analysed within the framework of conventional methods and Seemingly Unrelated Regression (SUR).

Results: Results robustly suggest that gross capital formation, macroeconomic stability, and …

A New World Order?: Considering Slaughter’S Notion Of The Disaggregated And Networked State, Darlene N. Moorman

The Downtown Review

This paper briefly explains Slaughter's (2004) argument for the emergence of a new world order defined by a disaggregated and networked state where the relevance of soft power has become all the more critical in conversations of politics and corresponding theory. This transformation (arising in the face of the so-called 'globalization paradox') is considered, exploring (a) what this means for the world system and (b) what concerns it may consequently bring.

The Environmental Contingencies, Capital Structure And Firm Performance Of Listed Firms, Sunday Amos Adeusi Dr, Oluwabunmi Akindele Olawaye

International Review of Business and Economics

Going concerns of business empires is predicated on the externality effect of environmental contingencies that influence the decisions of capital users. And the capability of capital users to circumnavigate both macro and micro environmental contingencies which cumulate to shareholders’ wealth maximization is crucial. Hence, the study aims of dissecting effect of macro and micro environmental contingences on the capital structure and firm performance. Generalized Method Moment (GMM) statistical tool is used to dissect perceived association amidst endogenous and exogenous variables. The results show that micro contingences such debt to equity, debt to assets and short-term liability have negative and statistically …

Are Debt-Holders Effective Monitoring Agents In Strategic Alliance Formations?, Malika Chaudhuri, Jay J. Janney

International Review of Business and Economics

When undertaking strategic alliances, managers face a fundamental choice to pursue alliances that allow them to exploit the value of current firm assets or alliances that allow them to explore new trajectories for the firm. To answer this question, we tested our proposed theoretical framework using 652 US-based publicly traded pharmaceutical firms between 1990 and 2012. Findings suggest that exploitation alliances have higher impact on firm performance in the short and long run than exploration alliances. Consistent with the debt overhang problem presented by Myers (1977), our findings confirm that high-leverage firms have a higher inclination toward exploitation alliance formations …

The Penn Effect And Marx's International Law Of Value: A Review Of Value And Unequal Exchange By Andrea Ricci, Giuseppe Quattromini

Markets, Globalization & Development Review

Placing itself in the revival of interest in unequal exchange, Ricci's book claims the need to give the theory a new conceptual foundation to justify recent proposals to estimate unequal exchange on the basis of the so-called Penn effect. In order to do that, Ricci identifies Marx's international law of value as a fitting theoretical framework and hence develops a radically innovative theory of global capitalist exploitation through international trade. Finally, he assesses the magnitude of unequal exchange over the past three decades by producing estimates based on the proposed approach.

Primitive Accumulation And Multinational Corporations: The Evolution Of Dispossession And Exploitation In The Rubber Industry, Matthew Rochat

The Journal of International Relations, Peace Studies, and Development

I examine how the process of primitive accumulation has led to evolving forms of dispossession and exploitation carried out by multinational corporations in the rubber industry. After a brief review of relevant literature, I outline a novel analytical approach to multinational corporations engaged in natural resource extraction, referred to as the Parasitic Extraction Model. I then demonstrate this approach using three case studies. The first, Leopold II’s Congo, showcases the barbaric underpinnings of primitive accumulation in the rubber industry in its crudest form. The subsequent section shifts to the interwar period with Fordlândia in the Brazilian Amazon where I analyze …

Dynamic Return Relationships In The Market For Cryptocurrency: A Var Approach, Julian Gouffray

James Madison Undergraduate Research Journal (JMURJ)

This paper examines how the Bitcoin-altcoin return relationship has evolved in periods between 2015 and 2020. To understand this relation, we observe data on the cryptocurrency Bitcoin and prominent altcoins Ethereum, Litecoin, Ripple, Stellar, and Monero, which collectively represent over 90% of the market throughout the observed period. We employ a vector autoregressive model (VAR) to produce forecast error variance decompositions, orthogonal impulse response functions, and Granger-causality tests. We find evidence that Bitcoin return variation has increasingly explained altcoin returns and that market inefficiency increased between 2017 and 2020, as shown by increased Granger causality between Bitcoin and altcoins. These …

Prevalence Of Duesenberry’S Relative Income Hypothesis In Nepalese Economy, Rajendra Adhikari

International Review of Business and Economics

Present paper examines the prevalence of Duesenberry’s relative income hypothesis in Nepalese economy during 1974/75-2019/20 through ARDL bound tests under DEF and Davis-SK specifications. The ARDL under DEF specification is found to be not valid. However, the ARDL bound test under Davis-SK specification is found valid. There exists cointegration among average propensity to consume, demonstration effect and ratchet effect. The coefficient of demonstration effect is found to be negative and that of ratchet effect to be positive as reported by ARDL models. The error correction model also implies that short run shocks significantly affect long run relations among the variables. …

Gaining A Better Understanding Of Higher Education: During And Post-Pandemic Scenario, Krati Sethi, Manas Roy

International Review of Business and Economics

Because of the coronavirus epidemic, faculty as well as the students have had to respond to “out of the ordinary” difficulty by quickly switching from traditional class - room education to online learning forms via “virtual classrooms”. Students facing challenges and continuing facing difficulties for various reasons required to adapt this modification in this delivery of curriculum becoming un attentive. Few solutions have been developed for students to assist them in freely transferring to virtual classrooms and maintaining proper online learning etiquette. A series of recommendations is offered in the present study to help students so that they can explore …

Can Blended Learning Address Indian Academic Issues?, Vijay Joshi, Sukanta K. Baral

International Review of Business and Economics

Over the years, India has implemented social reforms aimed at providing education to all. This is observed from the growth in GER (Gross Enrollment Ratio) over the years that has resulted in a decrease in the number of students absent in schools. Coronavirus, nonetheless, has disturbed this scenario and is testing the functions, efficiencies, and practices of India's schooling framework. This research paper, written for stakeholders in government, and the education sector, anticipate the extent to which there is a need of continuing the imparting of education. The main objective of this paper is to provide an overview of the …

Reskilling And Upskilling : To Stay Relevant In Today’S Industry, Rhea Sawant, Bryan Thomas, Swati Kadlag

International Review of Business and Economics

The rapid modernization and influx of various new technologies and methodologies currently being employed today greatly and continuously changes the definition of professional competence expected of employees that work for companies that are directly or indirectly impacted because of these advancements or changes, this creates a demand for new jobs requiring new skill sets and so, one finds that in order to keep relevant to the workforce, refreshing and adding to one’s skill set has become a necessity. Candidates thinking about entering the job market need to possess the right kind of skills for the right kind of job and …

Would An India-Us Trade Agreement Be Beneficial For India?, Neetu Kaushik, Niloufer Sohrabji

International Review of Business and Economics

This paper examines the potential impact of an India-U.S. FTA on India’s trade. We use two approaches to estimate trade effects, compound annual growth analysis and Gravity model estimation. Our sample spans the period from 1992 to 2019 and consists of seven bilateral trade agreements and three multilateral trade agreements which include 24 countries as our treatment group. In both cases we compare the impact on India’s trade following a trade agreement with a control group which we create by including those countries whose trade share exceeds one percent of India’s total trade (in 2019). Our CAGR analysis shows that …

Corporate Characteristics And Implementation Of Integrated Reporting Framework Of Listed Oil And Gas Firms In Nigeria, Muyiwa E. Alade, Olubunmi M. Odugbemi

International Review of Business and Economics

The demand for better corporate information by various stakeholders across the globe has necessitated a paradigm shift from the traditional financial reporting to more comprehensive financial and non-financial information in a single report, known as integrated reporting. The aim of this study is to empirically investigate the effect of corporate characteristics (firm size, board size, share ownership structure and profitability) on the implementation of integrated reporting framework in listed oil and gas firms in Nigeria. A census sampling technique was adopted, using the total population of eleven (11) oil and gas firms listed on the Nigerian Stock Exchange as of …

Oil Price Fluctuations Impact On The Lebanese Economic Well Being, Hanadi Taher

BAU Journal - Health and Wellbeing

This paper investigates the impact of oil price fluctuation on the Lebanese economic well being during the period from 1988 to 2018 using multivariable ordinary least square method with annual time series. taking the Lebanese GDP per capita as proxy for the economic wellbeing as dependent variable and the crud oil average annual prices as proxy for oil price fluctuations with Labor and gross fixed capital formation as two control variables. The test results show a significant and positive impact for the oil price fluctuations on the Lebanese economic well being and the significant results for control variables. In testing …

India's Development Dilemma, James Pomfret

Journal of Global Awareness

No abstract provided.

Cultural Challenges Of Bluebird Bio Expansion Into Germany, Igor Ban

Journal of Global Awareness

BlueBird Bio is a biotechnology multinational corporation (MNC), with headquarters in Cambridge, Massachusetts, specializing in gene therapy solutions for autoimmune diseases and cancer. The company was recently approved, in Germany, for their new drug Zynteglo for the treatment of betta thalassemia. This approval opened the door for further investment in the European market, starting with the contracting of Apceth Biopharma and purchases of new land and equipment to establish a permanent residence in the country. The opening of the new European headquarters will demonstrate new challenges for BlueBird Bio, as cultural and institutional differences between the host country and parent …

Global Trends In Tobacco Cigarette Use Among Adolescents: Prevalence Of Use And Evidence Based Cessation Interventions, Rejoice Addae, Cheryl Knight, Tamara Pace-Glover

Journal of Global Awareness

Tobacco use remains a global problem, and as a demographic group, adolescents are at a high risk of its adverse effects. In addition, disparities exist in strategies to address tobacco control, particularly among youth from low-socioeconomic backgrounds. The health risks associated with tobacco use provide a compelling reason for all nations to prioritize addressing and regulating its use and providing sustainable funding sources for training healthcare professionals and others under Article 14 of the World Health Framework Convention on Tobacco Control (FCTC). This article has four primary goals: (1) to provide an overview of the 2005 World Health Organization’s international …

Could Deglobalization Kill Transnational Cooperation? A Brief Historical Lesson, Virág Rab

Journal of Global Awareness

The study examines a historical period referred to in the literature as deglobalization. After the First World War, economic nationalism gained ground in some countries, mainly for political reasons, characterized by protectionist economic policies and the pursuit of autarchy/self-sufficiency. There were no international regulations or well-functioning international institutions that would have facilitated economic cooperation. How did those who worked hard to reconstruct the European economy react to this situation? This study presents this through the process of developing an informal network of bankers, and it indirectly highlights some important links between informal networks, globalization, and deglobalization.

Post Hoc...? Renaissance?! A Call For Renewed Solidarity With The Earth -- Our Common Home, Basilio Monteiro

Journal of Global Awareness

No abstract provided.

Notes From The Editor, Jay Nathan

Journal of Global Awareness

No abstract provided.

Letter From The Editor, Jay Nathan

Journal of Global Awareness

No abstract provided.

Impact Of Aml/Cft Regulations On Digital Disruptions (Fintech) And Financial Inclusion In Sub-Saharan Africa, David Nkang Odu

Bullion

Financial Technology is becoming paramount in all financial institutions, being utilized in helping companies manage most of their financial operations efficiently through the use of software and specialized algorithms. The future of finance will shine brightest when it provides standard and valuable services to the society, however this will come with its own merits and demerits. I have prepared this report to carry out a detailed discussion on the impact that the AML/CFT controls have on FinTech and the financial inclusion initiative in sub-Saharan Africa. The AML/CFT controls can be applied more effectively in the formal systems for banking and …

Ijir Title Page And Table Of Contents Vol. 1(1), Giovanni Ruggieri, Patrizia Calò, Razaq Raj, Kevin A. Griffin

International Journal of Islands Research

No abstract provided.

The Ages Of Globalization: Geography, Technology, And Institutions, Brenda Massetti

Journal of Global Awareness

No abstract provided.

Continued Impact Of International Financial Reporting Standards On U.S. Generally Accepted Accounting Principles, Sylwia Gornik-Tomaszewski, Victoria Shoaf

Journal of Global Awareness

The milestone outcomes of over a decade of close cooperation between the Financial Accounting Standards Board (FASB) and the International Accounting Standards Board (IASB) on the convergence of U.S. Generally Accepted Accounting Principles (U.S. GAAP) and International Financial Reporting Standards (IFRS) have been highly publicized in the professional media. Great attention has been paid to such joint FASB and IASB projects as accounting for business combinations, fair value measurement, and revenue recognition. The impact of U.S. GAAP on IFRS has also been discussed and highlighted in many professional and academic resources. It should come as no surprise since FASB is …