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Articles 61 - 90 of 209

Full-Text Articles in International Business

Multinationals In Emerging Markets: A Test Case Of The Banking Industry In India, Havovi Joshi Dec 2017

Multinationals In Emerging Markets: A Test Case Of The Banking Industry In India, Havovi Joshi

Dissertations and Theses Collection

Multinational firms play a significant role in the world economy, accounting for over 30% of the world stock market value. In the past decade or two, these firms have demonstrated a renewed wave of interest in the Emerging Asian markets. This is not surprising, given the attractive demographics, growing middle class and leapfrogging technology of these markets. But the optimism of these western firms heading eastward often gets quickly subdued by the realisation that these emerging Asian markets are far more complex—or at the very least, different—than western ones. They are more volatile, there is frequently a lack of institutional …


Cultural Preferences In International Trade: Evidence From The Globalization Of Korean Pop Culture, Pao-Li Chang, Iona Hyojung Lee Dec 2017

Cultural Preferences In International Trade: Evidence From The Globalization Of Korean Pop Culture, Pao-Li Chang, Iona Hyojung Lee

Research Collection School Of Economics

The Korean pop culture (TVdramas and K-pop music) has grown immensely popular across the globe over thepast two decades. This paper analyzes its impacts on international trade. We compilea cross-country panel dataset of South Korea's TV show exports to over 150countries for the period of 1998{2014. These variations in exposure to Koreanpop cultures are used to identify changes in consumer preferences for Koreanmerchandise across time, countries, and products (at the HS 4-digit level).First, we find that more Korean TV show exports significantly increase Koreanexports of goods for women, while the effects are much smaller on men'smerchandise. This strongly supports the …


Why Expanding Hong Kong Disneyland Is Important, Singapore Management University Oct 2017

Why Expanding Hong Kong Disneyland Is Important, Singapore Management University

Perspectives@SMU

The expansion plan of Hong Kong Disneyland has been a highly controversial topic in Hong Kong. Local lawmakers have criticised the government of taking a weak stance in the “unequal deal” with the US firm.


Board Independence As A Panacea To Tunneling? An Empirical Study Of Related Party Transactions In Hong Kong And Singapore, Christopher C. H. Chen, Wai Yee Wan, Wei Zhang Oct 2017

Board Independence As A Panacea To Tunneling? An Empirical Study Of Related Party Transactions In Hong Kong And Singapore, Christopher C. H. Chen, Wai Yee Wan, Wei Zhang

Research Collection Yong Pung How School Of Law

This article examines the effect of imposing higher board independence requirements on private benefit extraction by corporate management or controlling shareholders in Hong Kong and Singapore. This article shows that higher board independence negatively correlates with fewer related-party transactions (RPT), though in a nonlinear relationship with the marginal effect of higher board independence diminished. However, we find no clear causal effect of Hong Kong's imposition of a minimum board independence threshold in 2012 on reducing tunneling. Our data also show that higher concentration of ownership might not be associated with more tunneling by RPTs. Overall, this research lends support to …


Board Independence As A Panacea To Tunneling? An Empirical Study Of Related Party Transactions In Hong Kong And Singapore, Christopher C. H. Chen, Wai Yee Wan, Wei Zhang Oct 2017

Board Independence As A Panacea To Tunneling? An Empirical Study Of Related Party Transactions In Hong Kong And Singapore, Christopher C. H. Chen, Wai Yee Wan, Wei Zhang

Research Collection Yong Pung How School Of Law

This article examines the effect of imposing higher board independence requirements on private benefit extraction by corporate management or controlling shareholders in Hong Kong and Singapore. This article shows that higher board independence negatively correlates with fewer related-party transactions (RPT), though in a nonlinear relationship with the marginal effect of higher board independence diminished. However, we find no clear causal effect of Hong Kong's imposition of a minimum board independence threshold in 2012 on reducing tunneling. Our data also show that higher concentration of ownership might not be associated with more tunneling by RPTs. Overall, this research lends support to …


Chinese Company Shareholders Revolt Against Communist Control, Singapore Management University Apr 2017

Chinese Company Shareholders Revolt Against Communist Control, Singapore Management University

Perspectives@SMU

Shareholders of low-profile Chinese property developer Tianjin Realty Development recently made news by voting to keep party politics out of the Shanghai-listed company's organisational structure. Such action has never been heard of before at any State-Owned Enterprise (SOE) in the history of China's economic modernisation.


The Eu, Free Trade, And Populism, Singapore Management University Apr 2017

The Eu, Free Trade, And Populism, Singapore Management University

Perspectives@SMU

“Free and fair” trade is crucial for world prosperity but more must be done to convince those who have lost out in globalisation


Board Representation In International Joint Ventures, Ilya R. P. Cuypers, Gokhan Ertug, Jeffrey J. Reuer, Ben Bensaou Apr 2017

Board Representation In International Joint Ventures, Ilya R. P. Cuypers, Gokhan Ertug, Jeffrey J. Reuer, Ben Bensaou

Research Collection Lee Kong Chian School Of Business

Relatively little attention has been paid to boards in international joint ventures (IJVs), and the composition of these boards in particular. We examine the determinants of foreign partners' representation on IJV boards in order to advance our knowledge of this facet of IJV governance. We argue that a foreign partner's representation on the IJV board is related to its equity contribution. However, we hypothesize that this relationship is moderated by IJV and host country characteristics that affect the importance of the internal and external roles IJV boards serve. These results provide insights into the conditions under which a partner might …


Cross-Border M&A: Challenges And Opportunities In Global Business Environment [Guest Editors' Introduction], Rosa Caizza, Katsuhiko Shimizu, Toru Yoshikawa Mar 2017

Cross-Border M&A: Challenges And Opportunities In Global Business Environment [Guest Editors' Introduction], Rosa Caizza, Katsuhiko Shimizu, Toru Yoshikawa

Research Collection Lee Kong Chian School of Business

Under a rapidly changing and globalizing environment, mergers and acquisitions (M&As) have become one of the most important strategic initiatives. In this context, cross-border M&As provide various opportunities and benefits such as expeditious entry into new markets by gaining local knowledge, supplier networks, government relationships, and customers embedded in the target firm.


Institutional Regime Shift In Intellectual Property Rights And Innovation Strategies Of Firms In China, Kenneth Guang-Lih Huang, Xuesong Geng, Heli Wang Mar 2017

Institutional Regime Shift In Intellectual Property Rights And Innovation Strategies Of Firms In China, Kenneth Guang-Lih Huang, Xuesong Geng, Heli Wang

Research Collection Lee Kong Chian School Of Business

This study develops a novel conceptual framework to understand the differential impact of formal institutional regime shift in intellectual property rights on the innovation and patenting strategies of Chinese and Western firms operating in China. We argue that to the extent that Chinese firms have been deeply embedded in China’s informal institutions, they are less responsive to formal institutional changes than Western firms operating in China. Using the major China patent law reform of 2001 as an exogenous event, we find results consistent with our key arguments: With the strengthening of the previously weak (utility model) patent protection, Chinese firms …


Multinational Firms And Cash Holdings: Evidence From China, Weijun Wu, Yang Yang, Sili Zhou Feb 2017

Multinational Firms And Cash Holdings: Evidence From China, Weijun Wu, Yang Yang, Sili Zhou

Research Collection Lee Kong Chian School Of Business

To adapt to globalization, Chinese multinational firms have more exploitation of cash. This paper shows that Chinese multinational corporations (MNCs) do not hold significantly more cash relative to domestic firms unless these multinationals heavily relay on the foreign sales. In addition, the multinationals of non-State-Owned Enterprises (Non-SOEs) exhibit the insignificant difference in cash holdings for non-multinationals. We also find that Chinese MNCs invest more but are less profitable, especially in non-SOE subsample. Overall, we conclude that the need of cash liquidity of multinational corporations in China is different from those in U.S.


Nationalism And International Disputes In China: Implications For Transnational Corporations As Corporate Diplomats, Lisa Tam, Soojin Kim Jan 2017

Nationalism And International Disputes In China: Implications For Transnational Corporations As Corporate Diplomats, Lisa Tam, Soojin Kim

Research Collection Lee Kong Chian School Of Business

For decades, the territorial dispute between China and Japan over the sovereignty of the Senkaku Islands has caused diplomatic deteriorations in Sino-Japanese relations. When there is extensive media coverage on news about the dispute, nationalist sentiments in both two countries would be triggered and could be expressed through detrimental behaviors towards transnational corporations (hereinafter TNCs). While TNCs play a significant political function as corporate diplomats for their home countries, they are subject to the risk of crises when their home countries are involved in political and economic conflicts with the foreign countries in which they have operations. Against this backdrop, …


Relation Between Auditor Quality And Corporate Tax Aggressiveness: Implications Of Cross-Country Institutional Differences, Kiridaran Kanagaretnam, Jimmy Lee, Chee Yeow Lim, Gerald J. Lobo Nov 2016

Relation Between Auditor Quality And Corporate Tax Aggressiveness: Implications Of Cross-Country Institutional Differences, Kiridaran Kanagaretnam, Jimmy Lee, Chee Yeow Lim, Gerald J. Lobo

Research Collection School Of Accountancy

Using an international sample of firms from 31 countries, we study the relation between auditor quality and corporate tax aggressiveness. Employing an indicator variable for tax aggressiveness when the firm's corporate tax avoidance measure is within the top quintile of each country-industry combination, we find strong evidence that auditor quality is negatively associated with the likelihood of tax aggressiveness, even after controlling for other institutional determinants such as home-country tax system characteristics. We also find that the negative relation between auditor quality and the likelihood of tax aggressiveness is more pronounced in countries where investor protection is stronger, auditor litigation …


China Business At A Crossroads: Institutions, Innovation, And International Competitiveness, Joseph L. C. Cheng, Daphne W. Yiu Oct 2016

China Business At A Crossroads: Institutions, Innovation, And International Competitiveness, Joseph L. C. Cheng, Daphne W. Yiu

Research Collection Lee Kong Chian School Of Business

As the world's fastest growing economy with over a billion population, China is a country that the world needs to know more about in order to understand and anticipate her global and regional impact. Toward this end, the current special issue seeks to advance knowledge about the changing institutions in China and their impact on China business from both the perspectives of foreign firms investing in China and Chinese firms expanding internationally. Four articles selected from a pool of over 50 submissions are presented here, each covering one or more of the country's changing economic, political, and technological institutions. Collectively, …


How China's Firms Use Analysts To Communicate Externally, Singapore Management University Jul 2016

How China's Firms Use Analysts To Communicate Externally, Singapore Management University

Perspectives@SMU

Chinese companies face a dilemma. They need to straddle two worlds - there’s the old China where business is still conducted on a “who you know” basis, and the emerging world of financial markets, regulations and transparency, says Professor T.J. Wong, Choh-Ming Li Professor of Accountancy and Director of Centre for Institutions and Governance at the Chinese University of Hong Kong (CUHK) Business School.


Tapping The Power Of Local Knowledge: A Local-Global Interactive Perspective, Shenxue Li, Mark Easterby-Smith, Majorie A. Lyles, Timothy Adrian Robert Clark Jun 2016

Tapping The Power Of Local Knowledge: A Local-Global Interactive Perspective, Shenxue Li, Mark Easterby-Smith, Majorie A. Lyles, Timothy Adrian Robert Clark

Research Collection Lee Kong Chian School Of Business

Existing theories of international business and strategy do not fully explain how local knowledge disadvantage faced by foreign investors can be mitigated. We conducted an in-depth qualitative study into four MNCs to investigate the micro-processes of how they generated value from their dispersed sources of local knowledge in China. The results suggest an interactive model: that MNCs employed management processes encompassing three strategically interconnected efforts—global knowledge penetration, local-global knowledge blending, and local-global knowledge integration. The model highlights the interplay between global and local knowledge and challenges extant research that solely focuses on the transfer of either home-based or local knowledge.


Experience And Fdi Risk-Taking: A Microfoundational Reconceptualization, Peter J. Buckley, Liang Chen, L. Jeremy Clegg, Hinrich Voss Jun 2016

Experience And Fdi Risk-Taking: A Microfoundational Reconceptualization, Peter J. Buckley, Liang Chen, L. Jeremy Clegg, Hinrich Voss

Research Collection Lee Kong Chian School Of Business

Studies of how firms respond to host country risk have assigned explanatory primacy to organizational capability and managerial risk preference. The organization-level account is built on the premise that capability is a prerequisite for risk-taking while the individual-level account focuses on the managers' intrinsic behavioral attitude. Without integrating one with the other, the former is open to many alternative explanations while the latter remains only a source of heterogeneity. We propose that employing the microfoundations approach can address the limitations of each account and yield a fuller understanding of FDI risk-taking. Drawing upon behavioral decision theory and the concept of …


Bringing Down The Temperature, Singapore Management University May 2016

Bringing Down The Temperature, Singapore Management University

Perspectives@SMU

Governments have signed the Paris Agreement to address climate change. Businesses and individuals can play their part to keep the momentum going


How Do We Adopt Multiple Cultural Identities? A Multidimensional Operationalization Of The Sources Of Culture, Badri Zolfaghari, Guido Mollering, Timothy Adrian Robert Clark, Graham Dietz Apr 2016

How Do We Adopt Multiple Cultural Identities? A Multidimensional Operationalization Of The Sources Of Culture, Badri Zolfaghari, Guido Mollering, Timothy Adrian Robert Clark, Graham Dietz

Research Collection Lee Kong Chian School Of Business

Given the shortcomings of unidimensional accounts of culture that are based on nationality, this paper builds on and steps beyond current multidimensional conceptualizations of culture in order to provide first empirical evidence for a multidimensional operationalization of culture. It shows the multiple and simultaneous sources of cultural values (i.e., Family, Nationality, Urban/Rural Background, etc.) that individuals draw from in order to behave in accordance with their social setting. This contributes to our understanding of how and when individuals adopt multiple cultural identities. As the first attempt to operationalize the 'mosaic' framework of culture proposed by Chao and Moon (2005), this …


The Effects Of Within-Country Linguistic And Religious Diversity On Foreign Acquisitions, Douglas Dow, Ilya Cuypers, Gokhan Ertug Apr 2016

The Effects Of Within-Country Linguistic And Religious Diversity On Foreign Acquisitions, Douglas Dow, Ilya Cuypers, Gokhan Ertug

Research Collection Lee Kong Chian School Of Business

This article explores how within-country diversity of both language and religion influences the ownership structure of foreign acquisitions. Commentators have acknowledged the potential importance of “within-country diversity,” but to date this issue has received minimal empirical attention. We propose that diversity plays two distinct roles. Namely, diversity within the host country may be an additional source of behavioral uncertainty and information asymmetry, over and above the effects arising from cross-national differences. Moreover, diversity within the home country may increase the cognitive complexity of the decision makers, moderating the firm’s response to the distance and diversity of the host country. Results …


Corporate Reorganisation Of China’S Listed Companies: Winners And Losers, Zinian Zhang Jan 2016

Corporate Reorganisation Of China’S Listed Companies: Winners And Losers, Zinian Zhang

Research Collection Yong Pung How School Of Law

This article is the first empirical study investigating the corporate reorganisation of Chinese domestically-listed companies. Through examining these cases, it challenges the assertion made by most of these corporate reorganisation plans and by Chinese state-run media reports that creditors and general public shareholders were the major beneficiaries. Through an analysis of the data generated from all forth-three such cases, this articles reveals that: First, unsecured creditors could have, on average, received 61.37% more of their claims if the fundamental value distribution principle, the absolute priority norm, could have been complied with in these reorganisations; Second, if the general-public-shareholder-protection scheme issued …


The Most Valuable Brands In The World, Singapore Management University Nov 2015

The Most Valuable Brands In The World, Singapore Management University

Perspectives@SMU

Interbrand’s 2015 list features tech companies that dominate by moving with customers at the “speed of life”


The Next Wave Of Globalisation, Singapore Management University Nov 2015

The Next Wave Of Globalisation, Singapore Management University

Perspectives@SMU

As consumption patterns shift away from OECD countries to the developing world, businesses need to leverage on technology to overcome last-mile delivery obstacles


Economic Freedom, Investment Flexibility, And Equity Value: A Cross-Country Study, Chih-Ying Chen, Peter F. Chen, Qinglu Jin Sep 2015

Economic Freedom, Investment Flexibility, And Equity Value: A Cross-Country Study, Chih-Ying Chen, Peter F. Chen, Qinglu Jin

Research Collection School Of Accountancy

Prior studies show that equity value has convex relations with earnings and book value of equity, respectively, due to growth and adaptation options (Burgstahler and Dichev 1997a; Zhang 2000). These studies, however, do not consider the role of institutions in affecting firms' ability to exercise growth and adaptation options. In this study, we investigate whether these convex relations vary with the degree of a country's economic freedom, which may influence the frictions and costs of exercising these options. We develop four hypotheses: In countries with greater economic freedom, (1) a firm's capital investment in response to profitability is greater; (2) …


Organizational Image, Identity, And International Divestment: A Theoretical Examination, William P. Wan, H. Shawna Chen, Daphne W. Yiu Aug 2015

Organizational Image, Identity, And International Divestment: A Theoretical Examination, William P. Wan, H. Shawna Chen, Daphne W. Yiu

Research Collection Lee Kong Chian School Of Business

International divestment is a prevalent phenomenon and should be viewed as an integral part of the internationalization process. Nevertheless, the field of international business and strategy has paid scant attention to this topic. We develop a conceptual framework to examine a firm's propensity to divest internationally and the type of foreign operations it will divest. We posit that a firm's international divestment decisions are influenced by its organizational image and identity. Premised on this behavioral perspective, this article develops a theoretical model and generates a set of propositions to shed light on the topic of international divestment.


Splitting Specified Foreign Sourced Income Between Tax Exempt And Taxable Portions: An Optimal Solution (Part 3 Of 3), Teng Aun Khoo, Clement Kai Guan Tan Mar 2015

Splitting Specified Foreign Sourced Income Between Tax Exempt And Taxable Portions: An Optimal Solution (Part 3 Of 3), Teng Aun Khoo, Clement Kai Guan Tan

Research Collection School Of Accountancy

No abstract provided.


How Product Attributes Influence Internationalization: A Framework Of Domain- And Culture-Specificity, Terence P. C. Fan, Alex Tai Loong Tan Jan 2015

How Product Attributes Influence Internationalization: A Framework Of Domain- And Culture-Specificity, Terence P. C. Fan, Alex Tai Loong Tan

Research Collection Lee Kong Chian School Of Business

This paper introduces two important dimensions of product attributes in the context of internationalization: domain- and culture-specificity. Products can be high or low in domain- or culture-specificity, thereby being one of four broad categories in a two-by-two matrix. This framework of product attributes helps explain a series of gradations on how cultural difference influences the difficulty of selling a product internationally. By examining four cases, one from each of these categories, this paper shows that different product attributes affect the difficulty or ease with which the products of these firms were internationalized. While all four cases were able to derive …


Rethinking Cross-Border Talent Management: The Emerging Markets Perspective, Tejpavan Gandhok, Richard Raymond Smith Nov 2014

Rethinking Cross-Border Talent Management: The Emerging Markets Perspective, Tejpavan Gandhok, Richard Raymond Smith

Research Collection Lee Kong Chian School Of Business

A closer look at the relatively little understood issue of how and why emerging market MNCs manage their senior talent for international growth leads us to question the conventional wisdom on talent management practices.


Making Money From Mobile Phone Service At Sea, Singapore Management University Apr 2014

Making Money From Mobile Phone Service At Sea, Singapore Management University

Perspectives@SMU

It takes expertise and talent to build a new business; it takes capital and speed to maximise returns.


Adapting To Change: The State Of Singapore Private Enterprise In China, Wilfred How, Caroline Yeoh Jan 2014

Adapting To Change: The State Of Singapore Private Enterprise In China, Wilfred How, Caroline Yeoh

Research Collection Lee Kong Chian School Of Business

One of the most affluent and developed nations in its region, the city-state of Singapore relies largely on tapping global resources for economic growth, to ameliorate its tiny land area and accompanying lack of natural resources. Its current prominence is to a great degree owing to an early recognition of the need for such, and a well-documented stratagem of expanding its foreign direct investments (FDIs) as a means to stimulate economic development (Huff, 1995; Murray and Pereira, 1995) and strengthen the city-state’s ‘external economy’ - one which saw the island progress through a number of distinct phases of overseas investment …