The changing landscape of international business : From the Baltic Sea to the Indian Ocean

The article reviews the book "Foreign Direct Investment in Europe: A Changing Landscape," edited by Klaus Liebscher, Josef Christl, Peter Mooslechner, and Doris Ritzberger-Grünwald, and "International Business Marketing in Emerging Country Markets: The Third Wave of Internationalization of Firms," by Hans Jansson.

Doing business in China : getting ready for the Asian century

Although this book has a specific focus on Australian firms doing business in China, the important and unique contribution this book makes will help you and anyone in an organization that is considering doing business in China. China maintains a high growth economy and is currently the second largest in the world. This book, which includes results from research interviews conducted with business executives from 40 organizations, will assist in preparing to do business in China. This book takes you through the various elements associated with doing business in China, including the opportunities that are available and the obstacles that organizations can face, supported by data from real businesses internationalizing to China. It examines key areas including the foreign direct investment and trade framework, Chinese culture, political and legal frameworks, intellectual property regulations, motivations for internationalization, market entry strategy, and human resource management issues.

Repositioning Malaysian foreign policy

This book addresses a diverse range of issues and influences on Malaysian foreign policy. It attempts to put into context Malaysian Foreign Policy since Prime Minister Dato’ Sri Mohd Najib Tun Abdul Razak came into office. Many of the changes that have been instituted could be regarded as engaging diplomacy with innovation in such issues as culture, networks, and globalization. In the forefront are the new diplomatic initiatives as the articulation of the New Economic Model, the APEX University in Malaysian higher education, and the ‘One Malaysia’ programme and its impact on the people. Taken together, they represent a noticeable shift in emphasis with the need to combine the domestic dictates of policy and the translation of Malaysia’s larger interests externally. Issues are discussed and analyzed within a historical and future perspective without sidelining the traditional concerns of Malaysian Foreign Policy: The centrality of ASEAN, the need for foreign direct investment, and engagement with the world. The book, therefore, serves a wide readership deeply interested in keeping up with the pace of reforms within the country’s foreign policy and public diplomacy.

Monitoring the impacts of trade agreements on food environments

The liberalization of international trade and foreign direct investment through multilateral, regional and bilateral agreements has had profound implications for the structure and nature of food systems, and therefore, for the availability, nutritional quality, accessibility, price and promotion of foods in different locations. Public health attention has only relatively recently turned to the links between trade and investment agreements, diets and health, and there is currently no systematic monitoring of this area. This paper reviews the available evidence on the links between trade agreements, food environments and diets from an obesity and non-communicable disease (NCD) perspective. Based on the key issues identified through the review, the paper outlines an approach for monitoring the potential impact of trade agreements on food environments and obesity/NCD risks. The proposed monitoring approach encompasses a set of guiding principles, recommended procedures for data collection and analysis, and quantifiable 'minimal', 'expanded' and 'optimal' measurement indicators to be tailored to national priorities, capacity and resources. Formal risk assessment processes of existing and evolving trade and investment agreements, which focus on their impacts on food environments will help inform the development of healthy trade policy, strengthen domestic nutrition and health policy space and ultimately protect population nutrition.

Expatriate skills training strategies of Chinese multinationals operating in Australia

Recent years have witnessed a phenomenal growth in outward foreign direct investment (FDI) by Chinese multinationals. In contrast to their developed country counterparts, Chinese multinationals lack experience in foreign expansion and international operation. Although there has been increasing academic attention placed on Chinese outward FDI, little research on expatriate skills training of Chinese multinational enterprises (MNEs) has been conducted. Since the mainstream research focuses on expatriate pre-departure training rather than on learning during assignment, this study aims to bridge this gap by exploring how Chinese MNEs cope with expatriate training and skill enhancement when operating in an advanced economy such as Australia. The study utilises cross-level, in-depth interviews to analyse expatriate training in seven Chinese multinationals. Drawing on social learning theory, some patterns of Chinese expatriate skills training strategies are revealed, such as internationalisation as learning, the use of subsidiaries as a training tool, and learning as belonging.

Does growth attract FDI?

FDI is seen widely as a vital source of investment, technology transfer, and growth. The factors that attract FDI have been a longstanding source of debate. The authors present a comprehensive assessment of the accumulated evidence on one factor, the success of economic growth in attracting FDI. Meta-regression analysis is applied to 946 estimates from 140 empirical studies. The results confirm that, on average, economic growth is an important determinant of FDI. Overall, there is a positive correlation between growth and FDI and this is much larger among single country case studies than with cross-country analysis.

The political consequences of party system change

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 demography of investor heaven : a synthesis of international research on the characteristics, attitudes, and investment behaviour of business angels

The purpose of this paper was to compile and compare the findings of all robust international research providing national profiles of business angels (informal venture capitalists). At the outset, it was not clear how comparable studies would be and, as the project advanced, it became clear that few direct comparisons would be possible. Nevertheless, there were broad categories common to many studies and consequently a template was developed and used to summarise each study in a consistent format. The resulting report thus provides a summary of the data across 16 studies covering 9 different countries, with key points from the findings of each study.

This is by no means an elegant report, but the authors believe it is a useful one. It provides a compendium of international angel research neatly bundled in one package. It should benefit anyone considering conducting the first study of business angels for their country or building on research already completed.

The direct costs of raising external equity capital for US REIT IPOs

Purpose – The purpose of this paper is to investigate the total direct costs of raising external equity capital for US real estate investment trust (REIT) initial public offerings (IPOs).

Design/methodology/approach – The study provides recent evidence on total direct costs for a comprehensive dataset of 125 US REIT IPOs from 1996 until June 2010. A multivariate OLS regression is performed to determine significant factors influencing the level of total direct costs and also underwriting fees and non-underwriting direct expenses.

Findings – The study finds economies of scale in total direct costs, underwriting fees and non-underwriting expenses. The equally (value) weighted average total direct costs are 8.33 percent (7.52 percent), consisting of 6.49 percent (6.30 percent) underwriting fees and 1.87 percent (1.22 percent) non-underwriting direct expenses. The study finds a declining trend of total direct costs for post 2000 IPOs which is attributed to the declining trend in both underwriting fees and non-underwriting direct expenses. Offer size is a critical determinant for both total direct costs and their individual components and inversely affects these costs. The total direct costs are found significantly higher for equity REITs than for mortgage REITs and are also significantly higher for offers listed in New York Stock Exchange (NYSE). Underwriting fees appear to be negatively influenced by the offer price, the number of representative underwriters involved in the issue, industry return volatility and the number of potential specific risk factors but positively influenced by prior quarter industry dividend yield and ownership limit identified in the prospectus. After controlling for time trend, the paper finds REIT IPOs incur higher non-underwriting direct expenses in response to higher industry return volatility prior to the offer.

Originality/value – This paper adds to the international REIT IPO literature by exploring a number of new influencing factors behind total direct costs, underwriting fees and non-underwriting direct expenses. The study includes data during the recent GFC period.

Impact of automated dispensing cabinets on medication selection and preparation error rates in an emergency department: a prospective and direct observational before-and-after study

RATIONALE, AIMS AND OBJECTIVES: The implementation of automated dispensing cabinets (ADCs) in healthcare facilities appears to be increasing, in particular within Australian hospital emergency departments (EDs). While the investment in ADCs is on the increase, no studies have specifically investigated the impacts of ADCs on medication selection and preparation error rates in EDs. Our aim was to assess the impact of ADCs on medication selection and preparation error rates in an ED of a tertiary teaching hospital. METHODS: Pre intervention and post intervention study involving direct observations of nurses completing medication selection and preparation activities before and after the implementation of ADCs in the original and new emergency departments within a 377-bed tertiary teaching hospital in Australia. Medication selection and preparation error rates were calculated and compared between these two periods. Secondary end points included the impact on medication error type and severity. RESULTS: A total of 2087 medication selection and preparations were observed among 808 patients pre and post intervention. Implementation of ADCs in the new ED resulted in a 64.7% (1.96% versus 0.69%, respectively, P = 0.017) reduction in medication selection and preparation errors. All medication error types were reduced in the post intervention study period. There was an insignificant impact on medication error severity as all errors detected were categorised as minor. CONCLUSION: The implementation of ADCs could reduce medication selection and preparation errors and improve medication safety in an ED setting.

Additive manufacturing technologies : 3D printing, rapid prototyping, and direct digital manufacturing

This book covers in detail the various aspects of joining materials to form parts. A conceptual overview of rapid prototyping and layered manufacturing is given, beginning with the fundamentals so that readers can get up to speed quickly. Unusual and emerging applications such as micro-scale manufacturing, medical applications, aerospace, and rapid manufacturing are also discussed. This book provides a comprehensive overview of rapid prototyping technologies as well as support technologies such as software systems, vacuum casting, investment casting, plating, infiltration and other systems. This book also: Reflects recent developments and trends and adheres to the ASTM, SI, and other standards Includes chapters on automotive technology, aerospace technology and low-cost AM technologies Provides a broad range of technical questions to ensure comprehensive understanding of the concepts covered.

Investment opportunity set, corporate governance practices and firm performance

Prior research on the relationship between corporate controls and firm performance is premised on the notion that, in theory, there is direct association between corporate governance and firm performance. However, extensive research has produced mixed and often weak results. In this paper, we posit, as a primary relationship, a negative association between growth and firm performance and then examine whether corporate governance variables moderate this negative relationship. Our results support this notion and show that the role of corporate governance variables in firm performance should be evaluated in the context of the firm’s external environment measured in this study in terms of growth opportunities.