Internal equity financing and the performance of multinational subsidiaries in emerging economies

We examine the internal equity financing of the multinational subsidiary which retains and reinvests its own earnings. Internal equity financing is a type of firm-specific advantage (FSA) along with other traditional FSAs in innovation, research and development, brands and management skills. It also reflects subsidiary-level financial management decision-making. Here we test the contributions of internal equity financing and subsidiary-level financial management decision-making to subsidiary performance, using original survey data from British multinational subsidiaries in six emerging countries in the South East Asia region. Our first finding is that internal equity financing acts as an FSA to improve subsidiary performance. Our second finding is that over 90% of financing sources (including capital investment by the parent firms) in the British subsidiaries come from internal funding. Our third finding is that subsidiary-level financial management decision-making has a statistically significant positive impact on subsidiary performance. Our findings advance the theoretical, empirical and managerial analysis of subsidiary performance in emerging economies.

Transnationalism personified: young returning Trinidadians 'in their own words'

In this paper we consider the nexus existing between returning transnational migrants to Trinidad and Tobago's adaptation experiences, matters pertaining to their transnational life-paths, family and community experiences and their views on transnationalism and return. The research is based on an analysis of the detailed narratives provided by forty informants by means of semi-structured interviews. The informants consisted of nine 'second-generation', seven 'one-and-a-half-generation' and twenty-four 'prolonged sojourner' returning transnational migrants to Trinidad and Tobago. The main conceptual themes that characterise Caribbean transnationalism are presented at the beginning of the paper. Addressing these in the context of Trinidad and Tobago, we present our narrative-based findings under the following headings derived from analysis of our informant's experiences and views: transnational family and life-course issues; transnational community relationships; keeping in touch; transnational mobility and 'home as fixed anchor'; transnational identity; transnational economic and commercial interests; and strategic flexibility.

‘We are managing our own lives...’: life transitions and care in sibling-headed households affected by AIDS in Tanzania and Uganda

This paper explores the ways that young people express their agency and negotiate complex lifecourse transitions according to gender, age and inter- and intra-generational norms in sibling-headed households affected by AIDS in East Africa. Based on findings from a qualitative and participatory pilot study in Tanzania and Uganda, I examine young people's socio-spatial and temporal experiences of heading the household and caring for their siblings following their parent's/relative's death. Key dimensions of young people's caring pathways and life transitions are discussed: transitions into sibling care; the ways young people manage changing roles within the family; and the ways that young people are positioned and seek to position themselves within the community. The research reveals the relational and embodied nature of young people's life transitions over time and space. By living together independently, young people constantly reproduce and reconfigure gendered, inter- and intra-generational norms of ‘the family’, transgressing the boundaries of ‘childhood’, ‘youth’ and ‘adulthood’. Although young people take on ‘adult’ responsibilities and demonstrate their competencies in ‘managing their own lives’, this does not necessarily translate into more equal power relations with adults in the community. The research reveals the marginal ‘in-between’ place that young people occupy between local and global discourses of ‘childhood’ and ‘youth’ that construct them as ‘deviant’. Although young people adopt a range of strategies to resist marginalisation and harassment, I argue that constraints of poverty, unequal gender and generational power relations and the emotional impacts of sibling care, stigmatisation and exclusion can undermine their ability to exert agency and control over their sexual relationships, schooling, livelihood strategies and future lifecourse transitions.

Access, equity and the role of rights in health care

Modern health care rhetoric promotes choice and individual patient rights as dominant values. Yet we also accept that in any regime constrained by finite resources, difficult choices between patients are inevitable. How can we balance rights to liberty, on the one hand, with equity in the allocation of scarce resources on the other? For example, the duty of health authorities to allocate resources is a duty owed to the community as a whole, rather than to specific individuals. Macro-duties of this nature are founded on the notion of equity and fairness amongst individuals rather than personal liberty. They presume that if hard choices have to be made, they will be resolved according to fair and consistent principles which treat equal cases equally, and unequal cases unequally. In this paper, we argue for greater clarity and candour in the health care rights debate. With this in mind, we discuss (1) private and public rights, (2) negative and positive rights, (3) procedural and substantive rights, (4) sustainable health care rights and (5) the New Zealand booking system for prioritising access to elective services. This system aims to consider: individual need and ability to benefit alongside the resources made available to elective health services in an attempt to give the principles of equity practical effect. We describe a continuum on which the merits of those, sometimes competing, values-liberty and equity-can be evaluated and assessed.

Drivers' ratings of different components of their own driving skill: a greater illusion of superiority for skills that relate to accident involvement

Different components of driving skill relate to accident involvement in different ways. For instance, while hazard-perception skill has been found to predict accident involvement, vehicle-control skill has not. We found that drivers rated themselves superior to both their peers and the average driver on 18 components of driving skill (N = 181 respondents). These biases were greater for hazard-perception skills than for either vehicle-control skills or driving skill in general. Also, ratings of hazard-perception skill related to self-perceived safety after overall skill was controlled for. We suggest that although drivers appear to appreciate the role of hazard perception in safe driving, any safety benefit to be derived from this appreciation may be undermined by drivers' inflated opinions of their own hazard-perception skill. We also tested the relationship between illusory beliefs about driving skill and risk taking and looked at ways of manipulating drivers' illusory beliefs.

One’s own soundtrack: affective music synthesis

Computer music usually sounds mechanical; hence, if musicality and music expression of virtual actors could be enhanced according to the user’s mood, the quality of experience would be amplified. We present a solution that is based on improvisation using cognitive models, case based reasoning (CBR) and fuzzy values acting on close-to-affect-target musical notes as retrieved from CBR per context. It modifies music pieces according to the interpretation of the user’s emotive state as computed by the emotive input acquisition componential of the CALLAS framework. The CALLAS framework incorporates the Pleasure-Arousal-Dominance (PAD) model that reflects emotive state of the user and represents the criteria for the music affectivisation process. Using combinations of positive and negative states for affective dynamics, the octants of temperament space as specified by this model are stored as base reference emotive states in the case repository, each case including a configurable mapping of affectivisation parameters. Suitable previous cases are selected and retrieved by the CBR subsystem to compute solutions for new cases, affect values from which control the music synthesis process allowing for a level of interactivity that makes way for an interesting environment to experiment and learn about expression in music.