New business formation in a rapidly growing economy: The Irish experience

The extraordinary growth of the Irish economy since the mid-1990s - the 'Celtic Tiger' - has attracted a great deal of interest, commentary and research. Indeed, many countries look to Ireland as an economic development role model, and it has been suggested that Ireland might provide key lessons for other EU members as they seek to achieve the objectives set out in the Lisbon Agenda. Much of the discussion of Ireland's growth has focused on its possible triggers: the long term consequences of the late 1980s fiscal stabilisation; EU structural funds; education; wage moderation; and devaluation of the Irish punt. The industrial policy perspective has highlighted the importance of inflows of foreign direct investment, but a notable absence from the discourse on the 'Celtic Tiger' has been any mention of the role of new business venture creation and entrepreneurship. In this paper we use unpublished Irish VAT data for the years 1988 to 2004 to provide the first detailed look at national trends in business birth and death rates in Ireland over the 'take-off' period. We also use sub-national VAT data to shed light on spatial trends in new venture creation. Our overall conclusions are that new business formation made no detectable contribution to the acceleration of Ireland's growth in the late 1990s, although we do find evidence of spatial convergence in per capita business stocks.

New business formation in a rapidly growing economy:the Irish experience

The extraordinary growth of the Irish economy since the mid-1990s—the ‘Celtic Tiger’—has attracted a great deal of interest, commentary and research. Indeed, many countries look to Ireland as an economic development role model, and it has been suggested that Ireland might provide key lessons for other EU members as they seek to achieve the objectives set out in the Lisbon Agenda. Much of the discussion of Ireland’s growth has focused on its possible triggers: the long-term consequences of the late 1980s fiscal stabilisation, EU structural funds, education, wage moderation and devaluation of the Irish punt. The industrial policy perspective has highlighted the importance of inflows of foreign direct investment, but a notable absence from the discourse on the ‘Celtic Tiger’ has been any mention of the role of new business venture creation and entrepreneurship. In this paper we use unpublished Irish VAT data for the years 1988–2004 to provide the first detailed look at national trends in business birth and death rates in Ireland over the ‘take-off’ period. We also use sub-national VAT data to shed light on spatial trends in new venture creation. Our overall conclusions are that new business formation made no detectable contribution to the acceleration of Ireland’s growth in the late 1990s, although we do find evidence of spatial convergence in per capita business stocks.

Lessons for African economies from Irish and East Asian industry policy

When comparisons in terms of industrial policy lessons to be learned have taken place, it has tended to be solely vis-a-vis the ‘development state’ East Asian experience. This paper broadens the analysis and considers lessons which African countries can learn from other so-called ‘tiger’ economies including Ireland and the East and South Asian countries. We recognise that the latter are indeed clearly significant as many African countries at the time of independence had economic structures and levels of income quite similar to East Asian countries, yet have grown at vastly different rates since then. Exploring why this has been the case can thus offer important insights into possibilities for industrial policy. Yet this comes with some health warnings over East Asian experience. We suggest that another important contribution can come by looking at the Irish example, given its emphasis on corporatism rather than simply relying on state direction in the operation of industrial policy. The Irish model is also more democratic in some senses and has protected workers’ rights during the development process in contrast to the often highly dirigisite East Asian model. Overall we suggest that some immediate actions are needed, notably with regard to the financial system in small African economies. Without such changes, a poorly functioning financial system will continue to keep investment at low levels. In relation to the small size of the African economies, the paper recommends regional integration and sufficient overseas development assistance (ODA) for infrastructural development. It is also critical to note that the various small African economies each face their own industrial and economic development challenges, and that a ‘one size fits all’ approach is not appropriate; rather the key is to tailor policies and systems to the unique opportunities and development challenges in each African country.

The impact of board independence and ownership structure on the timeliness of corporate internet reporting of Irish-listed companies

Purpose – This study seeks to provide valuable new insight into the timeliness of corporate internet reporting (TCIR) by a sample of Irish-listed companies. Design/methodology/approach – The authors apply an updated version of Abdelsalam et al. TCIR index to assess the timeliness of corporate internet reporting. The index encompasses 13 criteria that are used to measure the TCIR for a sample of Irish-listed companies. In addition, the authors assess the timeliness of posting companies’ annual and interim reports to their web sites. Furthermore, the study examines the influence of board independence and ownership structure on the TCIR behaviour. Board composition is measured by the percentage of independent directors, chairman’s dual role and average tenure of directors. Ownership structure is represented by managerial ownership and blockholder ownership. Findings – It is found that Irish-listed companies, on average, satisfy only 46 per cent of the timeliness criteria assessed by the timeliness index. After controlling for size, audit fees and firm performance, evidence that TCIR is positively associated with board of director’s independence and chief executive officer (CEO) ownership is provided. Furthermore, it is found that large companies are faster in posting their annual reports to their web sites. The findings suggest that board composition and ownership structure influence a firm’s TCIR behaviour, presumably in response to the information asymmetry between management and investors and the resulting agency costs. Practical implications – The findings highlight the need for improvement in TCIR by Irish-listed companies in many areas, especially in regard to the regular updates of information provided on their web sites. Originality/value – This study represents one of the first comprehensive examinations of the important dimension of the TCIR in Irish-listed companies.

Diaspora identification and long-distance nationalism among Tamil migrants of diverse state origins in the UK

Accounts of Tamil long-distance nationalism have focused on Sri Lankan Tamil migrants. But the UK is also home to Tamils of non-Sri Lankan state origins. While these migrants may be nominally incorporated into a 'Tamil diaspora', they are seldom present in scholarly accounts. Framed by Werbner's (2002) conception of diasporas as 'aesthetic' and 'moral' communities, this article explores whether engagement with a Tamil diaspora and long-distance nationalism is expressed by Tamil migrants of diverse state origins. While migrants identify with an aesthetic community, 'membership' of the moral community is contested between those who hold direct experience of suffering as central to belonging, and those who imagine the boundaries of belonging more fluidly - based upon primordial understandings of essential ethnicity and a narrative of Tamil 'victimhood' that incorporates experiences of being Tamil in Sri Lanka, India and in other sites, despite obvious differences in these experiences. © 2013 Taylor & Francis.

The rhetoric and reality of supply chain management in Irish business

A strong focus of NITL’s research activity is on monitoring the extent to which SCM principles and concepts are adopted by organisations based in Ireland. For more than a decade this work has aimed to develop a profile of SCM adoption, as well as identifying some of the critical success factors and barriers influencing firms in their attempts to improve supply chain capability and performance. This article explains the role of SCM in Ireland’s economic recovery and provides an overview of NITL’s latest findings in relation to the adoption of SCM practices by firms in Ireland.

Putting supply chain learning theory into practice:lessons from an Irish case

The logistics service market is currently going through a fundamental transition. The development of closer relationships with customers and the continuous adaptation of products and services, represent potentially successful approaches to the development of improved competitive capability. To this end knowledge resources and learning processes increasingly represent key elements within the evolving framework of the 3PL business. This paper describes the case of NITL’s Foundation Certificate Programme (FCP) learning programme with specific reference to its use in addressing some of current shortcomings related to supply chain knowledge and skills in the Irish third party logistics (3PL) industry. The FCP rationale is based on the need to move from traditional approaches of supply chain organisation where the various links in the chain were measured and managed in isolation from each other and thus tended to operate at cross purposes, towards more integrated approaches.

An Investigation of the Irish Road Haulage Industry’s External Environment

The movement of goods is of critical importance to an economy, especially one, which is dependent on international trade such as Ireland. Considering Irelands distribution of manufacturing and other organisations throughout the country, many firms are dependent upon road haulage effectiveness and efficiency. In recent times there has been somewhat of a growing unease in the road haulage industry in relation to increasing cost, squeezing profit margins even tighter. An understanding of the Irish road haulier’s business environment would undoubtedly shed greater light onto their situation. The paper addresses this issue with an analysis of the industry’s competitive environment. The first step of the research methodology was an intensive search for pertinent literature, from which a limited amount of information was obtained. A confined amount of primary research was then carried out. Purposive sampling was used to establish the required respondents. The techniques used were the research conversation approach in combination with semi-structured interviews. Following this a structured postal questionnaire was issued to obtain quantitative statistics. The preliminary results of which are outlined. The analysis identifies a number of issues within the Irish road haulage industry. The paper concludes with the findings that the Irish road haulage industry is at present a brutally competitive environment due to its fragmented nature and the power of its customers. It also identifies the need for further research in order to establish the validity of certain points and issues.

Outsourcing:an Irish perspective

This paper investigates three case studies with regards their outsourcing initiatives from an Irish perspective, the benefits and problems they encountered, the contracts they have constructed, and where they have outsourced and the reasons behind them. The research took place over a period of two years, and the information for the case studies was gleaned from a number of sources including: published papers about the companies, the company websites, annual financial reports, the questionnaire they filled out, and interviews with key decision making personnel in the company. Follow up interviews were conducted where it was felt they were required. Key findings were that: it is very important to have the outsourcing initiative driven from the top down, and it is imperative to construct a contract that promotes a relationship based on mutual trust and respect, the use of Ireland for outsourcing, and the benefits and problem companies have experienced.

The role of supply chain management in Irish enterprise strategy development:a three-dimensional approach

The Irish economy has grown strongly in recent years. This, combined with other factors in the international trading environment, has sharpened the focus on the need for innovative strategies at a national level which can contribute positively from an enterprise strategy development perspective. As traditional manufacturing activity has migrated to lower labour cost economies questions have been raised concerning the role of supply chain management (SCM) in the evolving Irish business environment. This paper describes some of the main drivers in terms of both SCM and the changing economic and business environment. It goes on to propose a three-dimensional approach to understanding the potential role of SCM in the new scenario. This in turn informs the logistics and SCM research agenda from a national policy point of view.

Orthodox Christianity and Nationalism in Nineteenth-Century Southeastern Europe

Nation-building processes in the Orthodox commonwealth brought together political institutions and religious communities in their shared aims of achieving national sovereignty. Chronicling how the churches of Greece, Romania, Bulgaria, and Serbia acquired independence from the Patriarchate of Constantinople in the wake of the Ottoman Empire’s decline, Orthodox Christianity and Nationalism in Nineteenth-Century Southeastern Europe examines the role of Orthodox churches in the construction of national identities. Drawing on archival material available after the fall of communism in southeastern Europe and Russia, as well as material published in Greek, Serbian, Bulgarian, Romanian, and Russian, Orthodox Christianity and Nationalism in Nineteenth-Century Southeastern Europe analyzes the challenges posed by nationalism to the Ecumenical Patriarchate and the ways in which Orthodox churches engaged in the nationalist ideology.

A critical reflection on Irish industrial policy:a strategic choice approach

Abstract: This paper offers a critical evaluation of recent Irish industrial policy (IP) experience. It argues that whilst Ireland managed to get some things “right” through its IP, substantial tensions arose through making foreign direct investment (FDI) attraction the centrepiece of policy, without at the same time adopting a more holistic approach in IP which inter alia also placed an emphasis on indigenous firms and entrepreneurship more generally. In particular, greater efforts should have been made much earlier in attempting to embed transnational corporation (TNC)-led activity better into the wider economy, in fostering domestic small firms and entrepreneurship, in promoting clusters, and more generally in evaluating IP more fully – notwithstanding the context which mitigated against such actions. As a result, Ireland as an economy remained vulnerable to strategic decisions made elsewhere by TNC decision makers, with IP effectively contributing to a situation that can be characterised as institutional and strategic failure. Overall, the paper suggests that wholesale emulation of the Irish IP approach is problematic.

Orthodox Christianity and Nationalism:an introduction

On the morning of January 5, 1859, at the end of the liturgy in the Orthodox cathedral in Iaşi, the capital of the principality of Moldavia, Father Neofit Scriban addressed the congregation. He had given many sermons in the cathedral; however, on this par tic u lar date Father Neofit faced an unusual audience. Among the faithful who regularly worshipped at the relics of Saint Parascheva, the protector of Moldavia, were the members of the assembly who would decide the future of the principality. They had a specific mission: to elect a new prince, a key figure in their plan to unite Moldavia with the neighboring principality of Wallachia. Father Neofit, a supporter of the unionist cause and fully aware of the significance of the moment, stated: Brethren, Jesus Christ has said that "For where two or three have gathered together in My name, I am there in their midst." You, Brethren, are not two, or three, but a real gathering in the name of God. God is in your midst. You are here in the name of the Romanian nation [and] the Romanian nation is in your midst. On the flag under which you have assembled, the flag of the Romanian nation, great events, the Romanian faith, unity, are written in large letters. The church, which is founded on faith, blesses the flag of this faith⋯. You, Brethren, through the faith of the Romanian nation, by remaining faithful to this flag, will find the same strength as the church [finds] in its own saints. The faith of the Romanian nation was not, is not, and will not be anything else, but the unity of all Romanians in a single state, the only anchor of salvation, the only port in which the national boat could be saved from surrounding waves. You, Brethren, have gathered here in the church of Stephen the Great; looking at the altar that he raised to the God of your parents, I think that, through this [altar], you will be able to enter into the wishes of this hero of our nation. You, [remember that] by leaving this place, you are leaving [in order to fulfill] a great gesture that for many centuries has been lost for us; you are about to elect a successor to this great hero; therefore, as his true sons, you could not be anything other than the true expression of his wishes. Myself, [as] last year, from this altar, I said and I will continue to say that this great hero has told us that "the God of our parents will send us a Redeemer who will heal our wounds and accomplish our wishes." May your chosen leader today be the redeemer expected by the Romanian nation. May he heal its wounds and achieve its wishes. Therefore, Brethren, may your election today be that of a real Messiah of Romania. God and the world are looking at you, the church is blessing you and the whole Romanian nation is waiting for you!1 A few hours after Father Neofit's sermon, the assembly elected Alexandru Ioan Cuza to be the prince of the principality of Moldavia; a few days later, on January 24, 1859, the assembly of the neighboring principality of Wallachia decided that Cuza should also be their prince, thus confirming the unification of the two states. A new country was inscribed on the map of Southeastern Europe, titled "The United Principalities of Wallachia and Moldavia," also known as "The United Romanian Principalities".