Business Commons^™

Ceo Compensation And Risk-Taking At Financial Firms: Evidence From U.S. Federal Loan Assistance, Amar Gande, Swami Kalpathy

Amar Gande

We examine whether risk-taking among the largest financial firms in the U.S. is related to CEO equity incentives before the 2008 financial crisis. Using data on U.S. Federal Reserve emergency loans provided to these firms, we find that the amount of emergency loans and total days the loans are outstanding are increasing in pre-crisis CEO risk-taking incentives – “vega”. Our results are robust to accounting for endogeneity in CEO equity incentives and selection of financial firms into emergency loan programs. We also rule out the possibility that our results are driven by a bank’s funding base, bank complexity, CEO overconfidence, …

Defining Your Own Sustainable Future, Jacob Johnsen

Jacob Johnsen, MSc

How do you create – and maintain – an attractive service portfolio, and how to compete in a shifting environment? In our changing world, survival is not a question of size, speed or coverage. You must be adaptive. Posts can find out where to adapt, by examining the changes in customer behaviour, changing demands and technological achievements. Volumes are shifting from letters to packets, and so far, courier companies have taken market share from posts. Jacob Johnsen looks at the current changes and gives some guidelines on how to set up pointers for an ever-changing direction.

The Political Consequences Of Party System Change, Riccardo Pelizzo, Zim Nwokora

riccardo pelizzo

This article engages one of the important gaps in the literature on party system effects: the consequences of party system change. We discuss how existing empirical approaches to party system change do not actually capture the changeability of patterns of party competition, which is the most direct understanding of the term “party system.” We propose a measure that does exactly this: the index of fluidity. Applying this measure to countries in South East Asia, we show that party system change is associated with harmful effects, including lower foreign direct investment and deterioration of the rule of law

The New Panama Canal In A Global Context, Herman L. Boschken

Herman L. Boschken

Without the "container revolution" (1970-present) and its redesign of seaport and maritime-trade infrastructures, globalization as we know it would not exist. With the recent enlargements of the Panama and Suez Canals, many new implications for U.S. economic trade are unfolding. This presentation at the Commonwealth Club of California, outlines recent changes in world trade and infrastructure development, and poses five factors that will likely determine winners and losers in the unfolding developments of this highly competitive world trade-route system.

Does Stronger Patent Protection Increase Export Variety? Evidence From U.S. Product-Level Data, Olena Ivus

Olena Ivus

Proponents of global intellectual property rights (IPRs) reforms have argued that developing countries' weak IPRs limit their access to foreign innovative products and technologies. Central to our understanding of the effects of IPRs on product access is the influence of national differences in patent protection on corporate behavior and business strategy of multinational firms. Using detailed product data on U.S. exports from 1990 to 2000, this paper assesses the impact of strengthening IPRs in developing countries on product variety of U.S. exports. Colonial origin and cross-industry variation in patent effectiveness serve to identify the impact. The results show that the …

The Microfoundations Of Distance: Insights From Psychology To Expand The Notion Of Psychic Distance, Laetitia Em

Laetitia EM

Many studies have focused on the impact of cultural differences between a host and a home environment on macro outcomes such as firms’ strategies and performance. However little attention has been paid towards the microprocesses underlying this relationship. How those differences translate into the minds of decision makers and then affect the way they perceive distances and thus the decisions they make accordingly remains vastly understudied. We suggest here to consider that cultural differences are an input of psychic distance, and to treat psychic distance as a dynamic, subjective, and cognitive process, occurring at the individual level.This theoretical paper aims …

Attracting Fdi And Benefiting From It: Challenges For The Least Developed Countries, Karl P. Sauvant

Karl P. Sauvant

Spoke on “Attracting FDI and Benefiting From It: Challenges for the Least Developed Countries,” at an event on “Investment Promotion Regimes for Foreign Direct Investment in the Least Developed Countries,” held by the Second Committee of the UN's General Assembly, New York, 24 November 2014. The presentation was subsequently published in the Transnational Corporations Review, vol. 7, no. 2 (June 2015), pp. 125-127.

G7 Move For Fair And Stable Contracts Can Be A Boon To Developing Economies, Karl P. Sauvant

Karl P. Sauvant

Karl P. Sauvant, "G7 Move for Fair and Stable Contracts Can be a Boon to Developing Economies,” letter to the editor, Financial Times, 10 July 2014.

4th International Symposium On Cross Sector Social Interactions (Cssi), 29-30 May 2014 Suffolk University Boston, Usa: Innovative Collaboration For A Complex World: Reaching Across Institutional Divides, Maria May Seitanidi

Maria May Seitanidi

4th International Symposium on Cross Sector Social Interactions (CSSI), 29-30 May 2014 Suffolk University Boston, USA: Innovative Collaboration for a Complex World: Reaching Across Institutional Divides

Manpower Agency In Nepal, Sudarshan Sapkota

Sudarshan Sapkota

manpower supply agency from nepal manpower recruitment agency in nepal

Patterns Of Business Internationalisation In Visegrad Countries – In Search For Regional Specifics, Antonio Durendez, Krzysztof Wach

Krzysztof Wach

No abstract provided.

An Empirical Study Of Indian Entrepreneurs In Christchurch, New Zealand, Edwina Pio, Leo Paul Dana

Leo- Paul Dana

This qualitative exploratory study seeks to present a deeper understanding of entrepreneurs of Indian ethnicity operating firms in the formal sector in Christchurch, New Zealand. Our over-arching guiding question was: Why do first generation ethnic minority immigrants become entrepreneurs? Sub questions included the exploration of the why and what of entrepreneurship for these first generation immigrants, in particular why these immigrants choose to be exporters. In-depth interviews were conducted with a dataset of 58 entrepreneurs of Indian origin of whom 11 were involved in exporting from New Zealand. With increasing geographical mobility of the Asian population, our study contributes to …

Migrant Entrepreneurship, Economic Activity And Export Performance: Mapping The Danish Trends, Nikita Baklanov, Shahamak Rezaei, Jan Vang, Leo Paul Dana

Leo- Paul Dana

Recent studies on transnational entrepreneurship suggest that migrant entrepreneur plays an increasingly significant role as sources of economic activities and especially export revenue. The literature is, however, biased on the US experience, lacks a comparative perspective between migrants and non-migrants and is primarily anecdotal in nature. This paper aims to reduce this gap by mapping the recent changes in the role of migrant entrepreneurs as a source of increased economic activity and export revenue in the Danish context and thereby linking the challenges stemming from the transnational entrepreneurship literature to the immigration and internationalisation of entrepreneurship literature. Entrepreneurial economic activity …

The Creation Of Trust - The Interplay Of Rationality, Institutions And Exchange, Martin Mathews, Peter Stokes

Martin Mathews

Relationships based on notions of trust represent a central aspect of the communitarian model of industrial districts. Examination of trust has generated a substantial literature; nevertheless, there have been relatively few studies that have empirically considered the sources of trust that operate in local ties and connections. The paper aims to redress this imbalance by investigating relationships in the Arve Valley industrial district near Geneva. It considers sources of trust by engaging the theoretical framework of Möllering’s (2006a) model of trust which is predicated on the concepts of reason, routine and reflexivity. In conjunction with this, the field research employs …

Challenges For China's Outward Fdi, Karl P. Sauvant

Karl P. Sauvant

Karl P. Sauvant, "Challenges for China's Outward FDI,” op. ed., China Daily, 31 October 2013.

Voice Without Say: Why Capital-Managed Firms Aren’T (Genuinely) Participatory, Justin Schwartz

Justin Schwartz

Why are most capitalist enterprises of any size organized as authoritarian bureaucracies rather than incorporating genuine employee participation that would give the workers real authority? Even firms with employee participation programs leave virtually all decision-making power in the hands of management. The standard answer is that hierarchy is more economically efficient than any sort of genuine participation, so that participatory firms would be less productive and lose out to more traditional competitors. This answer is indefensible. After surveying the history, legal status, and varieties of employee participation, I examine and reject as question-begging the argument that the rarity of genuine …

Innovation And Learning Through Knowledge Gatekeepers:A Critical Examination Of The Relationship Betweentrust, Openness, And The Use Of Gatekeepers, Deogratias Harorimana Dr

Dr Deogratias Harorimana

The term ‘gatekeeper’ is widely used to represent a class of those who collect information, knowledge and contextualise this before they can share with the rest of the members of the organisation knowledge networks-both formal and informal organisations. In this study, it was found:

1 that there is a strong relationship between the openness of a given firm, as regards its knowledge sharing culture and level trust, and that firm’s use of knowledge gatekeepers

2 that the stage of a given firm’s growth corresponds to its strategic use of different types of gatekeeping.

In early and decline (renewal) stages, for …

Do-It-Yourself Mt: Taking (Statistical) Machine Translation To The Next Level, Uwe Muegge

Uwe Muegge

New web-based statistical machine translation services are currently revolutionizing the market. These SaaS solutions allow users to customize an MT engine with their own translation memories. As most of these services follow the subscription model, launching a DIY MT project costs only a fraction of deploying a traditional machine translation tool, which makes this powerful technology affordable for even the smallest organization.

101 Financial Accounting Practices: Practical Questions And Answers, George E. Ekeha

George E Ekeha

More often that not, our accounting practices at the corporate levels have been very different from what actually goes on in our schools and universities. Many of our graduate students in accounting get into the real world of work and realised that whatever they learnt in the classrooms have not much impact on the practice of accounting in the corporate environment.

This book intends to bring some practical (not totally though, but I am sure it would help others to start thinking about the solutions) questions for prospective accounting graduates to test themselves on the realities of accounting jobs. The …

The Baku Forum On Intercultural Dialogue And Cultural Diversity, Effenus Henderson

Effenus Henderson

Briefing and report on the 2nd World Forum in Intercultural and cultural diversity sponsored by the government of Azerbaijan in partnership with the United Nations Alliance of Civilizations and UNESCO. The report incorporates the insights and perspectives of a US chief diversity officer invited to speak at the event.

Hybrid Mail And Lights-Out Factory, Jacob Johnsen

Jacob Johnsen, MSc

Based on new technological possibilities a completely automatic factory for production of letters is now possible. Jacob Johnsen explains how.

A Born Global Gradually Advancing Its Internationalization - A Case Study Of Internationalization Process Of A Small Tour Operator In A Niche Market, Karolina Nessel

Journal of Entrepreneurship, Management and Innovation JEMI

Today much is already known about the internationalization patterns of small and medium enterprises (SMEs). However, the research has mainly focused on outward internationalization and more in manufacturing industry than in services (and hardly in the tourism industry). Thus, the paper undertakes an exploratory research in order to verify to what extent the common framework of analysis may explain an internationalization path of SMEs in the tourism sector. To this goal, a case study of a small tour operator in a niche market of weddings abroad in Poland is undertaken. The research seeks to match the firm’s internationalization characteristics with …

The Main Burdens Of Doing Business Perceived By Family-Owned Hospitality Enterprises In Slovakia, Ľudmila Šmardová, Ľuboš Elexa

Journal of Entrepreneurship, Management and Innovation JEMI

The main aim of the article is to identify the main burdens of doing business perceived by Slovak family owned hospitality businesses as well as to assess their view on the prospects for family businesses in Slovakia. The article analyzes primary data gained from an opinion survey conducted by means of a questionnaire in 2013. The business environment perception is evaluated according to the perception of certain external business environment indicators (conditions of doing business) depicted on the basis of the results of the pilot survey conducted in 2009 and the research carried out in 2010/2011. The results allowed us …

Technology Transfers And Knowledge Management In Developing Economies: Case Study Of An Indonesian Manufacturer, Wahyudi Wibowo

Journal of Entrepreneurship, Management and Innovation JEMI

International technology transfers are crucial for developing economies since they may operate as one of the key drivers in the economies’ development path. Previous studies have acknowleged some channels of technology transfers for developing economies. Nevertheless, the precise mechanisms of how the technology transfers would occur and take effect in each of the recipient economies and their domestic companies are still to be explored. Furthermore, understanding domestic companies knowledge management is important since it would determine the absorptive capacity of the company toward advanced foreign technologies. This study uses a case of technologically intermediate-level Indonesian manufacturer to show evidence of …

Entrepreneurial Intention Determinants: An Empirical Model And A Case Of Iranian Students In Malaysia, Abdolhamid Papzan, Nashmil Afsharzade, Khadijeh Moradi

Journal of Entrepreneurship, Management and Innovation JEMI

This study investigated entrepreneurial intention among graduate students of USM**** Engineering Campus. Applying the Theory of Planned Behavior (TPB; Ajzen), we examined the empirical model of entrepreneurial intention determinants. Although research has been conducted in entrepreneurial intention, limited study has been done among Iranian graduate students who are studying abroad. This research aims to fill this gap using Entrepreneurial Intention Questionnaire (EIQ, version 3.1). Accordingly, a survey study was applied and Iranian graduate students of the USM Engineering Campus were studied using the census method. The authors propose an empirical model and tested its reliability and validity using structural equation …

Advancing Domestic Development Through Overseas Investment, Karl P. Sauvant, Victor Zitian Chen

Karl P. Sauvant

Strongly politically tied state-owned enterprises, tax-havens and offshore financial centers, and outward investment promotional measures characterize China’s rise to become the world’s third largest outward investor. The article furthermore discusses why the Chinese government supports outward FDI.

Prospering In The United States, Karl P. Sauvant

Karl P. Sauvant

Japan’s previous experience as new kids on the (FDI) block in the US can help guide China’s rise to success in that market. Thoughtful navigation of stakeholder management, political processes, and institutional systems can help avoid negative publicity. By approaching slowly though greenfield investments in place of M&As and assembly facilities as a stepping stone to full local production and attention to corporate social responsibility (CSR), China can focus efforts on local integration and the creation of linkages without damaging their brand. These strategies will help form strong networks through which China can build its brand and become insiders in …

Improving The International Investment Law And Policy Regime: Options For The Future

Karl P. Sauvant

The international investment regime faces broader challenges, as reflected especially in the discussions regarding the investor-state dispute-settlement mechanism and the quest to make the international investment regime more oriented toward sustainable development objectives and to strengthen disciplines for the behavior of multinational enterprises. A number of options of how the regime can be improved are laid out in this booklet, including engaging in fact finding processes; establishing consensus-building working groups; formulating a model international investment agreement; building specific mechanisms to improve the investment regime. and commencing intergovernmental processes. An international investment consensus-building process is advocated to facilitate the improvement of …

Inward And Outward Fdi Country Profiles, Second Edition

Karl P. Sauvant

The key role MNEs play in the global economy through international investment, and the changing landscape of such investment as MNEs as well as host and home economies adjust to changing conditions and objectives, make it important to understand trends and developments with respect to FDI and the policy context in which they take place. This second edition of country profiles seeks to contribute to such an understanding by bringing together, in a single collection, the country profiles on inward and outward FDI prepared as part of the Columbia FDI Profiles series. Authored and peer-reviewed by scholars from around the …

Coopetition At Work: How Firms Shaped The Airline Industry, Wojciech Czakon, Leo Paul Dana

Leo- Paul Dana

The literature on coopetition has made a substantial progress in identifying its attributes and outcomes. However, published work has much less to say about the emergence of this strategy. We develop a view on coopetition adoption at industry level, focused on exogenous factors, and seen from an evolutionary perspective. Our longitudinal study of the airline industry development reveals that coopetition is a way of operating, aimed at shaping relationships between value network members. Empirical data suggest that cooperative moves of key players are meant at a more efficient value creation. Yet, those moves involve also intra- and internetwork competition. Industry …