Business cycles, long waves, and company langevity in Birmingham area metal industries 1780-1980

This doctoral thesis originates from an observational incongruence between the perennial aims and aspirations of economic endeavour and actually recorded outcomes, which frequently seem contrary to those intended and of a recurrent, cyclical type. The research hypothesizes parallel movement between unstable business environments through time, as expressed by periodically fluctuating levels of economic activity, and the precipitation rates of industrial production companies. A major problem arose from the need to provide theoretical and empirical cohesion from the conflicting, partial and fragmented interpretations of several hundred historians and economists, without which the research question would remain unanswerable. An attempt to discover a master cycle, or superimposition theorem, failed, but was replaced by minute analysis of both the concept of cycles and their underlying data-bases. A novel technique of congregational analysis emerged, resulting in an integrated matrix of numerical history. Two centuries of industrial revolution history in England and Wales was then explored and recomposed for the first time in a single account of change, thereby providing a factual basis for the matrix. The accompanying history of the Birmingham area provided the context of research into the failure rates and longevities of firms in the city's staple metal industries. Sample specific results are obtained for company longevities in the Birmingham area. Some novel presentational forms are deployed for results of a postal questionnaire to surviving firms. Practical demonstration of the new index of national economic activity (INEA) in relation to company insolvencies leads to conclusions and suggestions for further applications of research into the tempo of change, substantial Appendices support the thesis and provide a compendium of information covering immediately contiguous domains.

International business research and risky investments, an analysis of FDI in conflict zones

The purpose of this paper is to examine the determinants of a firm's strategy to invest in a conflict location. To the best of our knowledge, this has not been done before. We examine this using a standard model of international business, overlaid with the fundamental approach to corporate social responsibility. We start with the population of multinationals who have chosen to invest in low income countries with weak institutions. We then split this sample in order to distinguish between firms that have invested in conflict regions compared to those that have not. Our analysis then proceeds to explain the decision of those firms to invest in conflict locations using a simple Probit model. We find that countries with weaker institutions and less concern about corporate social responsibility (CSR) are more likely to invest in conflict regions. Finally, firms with more concentrated ownership are more likely to invest in such locations. © 2012 Elsevier Ltd.

The role of national culture in advertising's sensitivity to business cycles:an investigation across continents

The authors conduct a systematic investigation into the cyclical sensitivity of advertising expenditures in 37 countries, covering four key media: magazines, newspapers, radio, and television. They show that advertising is considerably more sensitive to business-cycle fluctuations than the economy as a whole. Advertising behaves less cyclically in countries high in long-term orientation and power distance, but it is more cyclical in countries high in uncertainty avoidance. Furthermore, advertising is more sensitive to the business cycle in countries characterized by significant stock market pressure and few foreign-owned multinational corporations. The authors provide initial evidence on the long-term social and managerial losses incurred when companies tie ad spending too tightly to business cycles. Countries in which advertising behaves more cyclically exhibit slower growth of the advertising industry. Moreover, private-label growth is higher in countries characterized by more cyclical advertising spending, implying significant losses for brand manufacturers. Finally, an examination of 26 global companies shows that stock price performance is lower for companies that exhibit stronger procyclical advertising spending patterns.

Doing business in India

On its independence in 1947, India was among the two most industrialized nations in Asia. Since then it adopted a “mixed economy” approach that hindered its national growth and the optimum utilization of its immense resources (both natural and human). To re-establish itself as an economic force in the region, India liberalized its economy in early 1990s. The adoption of the “free market economy” model has created great opportunities for foreign businesses. This article provides useful information on the complex business environment, aimed to help foreign businessmen and investors to develop a good understanding on key background knowledge for being successful in India. It reviews Indian historical development, political structure and climate, international relations, and economy and foreign trade. India's infrastructure, legal framework, socio-cultural set-up, competitive environment, as well as market structure and potential are also analyzed. © 2001 John Wiley & Sons, Inc.

Doing business in... Indonesia

Indonesia's long stability of over three decades came to a sudden end after the regional economic crisis of 1997–1998. The economic crisis not only shattered the Indonesian economy but also resulted in political turmoil. The national leadership has changed three times over the last five years. In such conditions, the confidence of foreign investors is very low. The present government has initiated a number of steps to restore political stability and economic recovery. This article provides useful information on the complex business environment, aimed to help foreign investors to develop a good understanding on key background knowledge for being successful in Indonesia. It reviews Indonesian historical development, political structure and climate, regional relations, and economy and foreign trade. Indonesia's infrastructure, legal framework, sociocultural setup, as well as market structure and potential, are also analyzed.

Doing business in... Sri Lanka

Having a well-developed human resource base and a relatively well-developed capital market infrastructure, Sri Lanka offers a liberal and dynamic investment environment. Over the years, macrostability has been achieved and considerable reforms have been implemented, contributing to a healthy economic growth. This article provides useful information on the business environment and is intended to help foreign businessmen and investors to develop a good grasp of essential background knowledge for being successful in Sri Lanka. It reviews the Sri Lankan political structure, climate, and economy. Sri Lanka's infrastructure, legal framework, and socioculturel set-up, as well as market structure and potential, are also analyzed. © 2005 Wiley Periodicals, Inc.

The behavioural homogeneity evaluation framework:Multi-level evaluations of consumer involvement in international segmentation

This paper presents a generic strategic framework of alternative international marketing strategies and market segmentation based on intra- and inter-cultural behavioural homogeneity. Consumer involvement (CI) is proposed as a pivotal construct to capture behavioural homogeneity, for the identification of market segments. Results from a five-country study demonstrate how the strategic framework can be valuable in managerial decision-making. First, there is evidence for the cultural invariance of the measurement of CI, allowing a true comparison of inter- and intra-cultural behavioural homogeneity. Second, CI influences purchase behaviour, and its evaluation provides a rich source of information for responsive market segmentation. Finally, a decomposition of behavioural variance suggests that national-cultural environment and nationally transcendent variables explain differences in behaviour. The Behavioural Homogeneity Evaluation Framework therefore suggests appropriate international marketing strategies, providing practical guidance for implementing involvement-contingent strategies. © 2007 Academy of International Business. All rights reserved.

The role of market orientation in the business success of the MNC’s foreign subsidiaries

In recent discussions over the contribution of marketing to the strategy dialogue, market orientation has been singled out as being of particular importance in relation to the understanding of competitive advantage (Day et al 1992, Hunt and Lamb 2000). Research in the past has focused primarily on firms operating in domestic markets. As such, despite the recent progress, it is unclear of relevancy of market orientation as a construct in the context of multinational corporations (MNC) and their foreign subsidiaries. In this study, we set out to explore the role of market orientation in the subsidiary business performance. An investigation of a sample of 252 foreign subsidiaries in the UK revealed that except for “receptive? subsidiaries (Taggart 1998), market orientation has significant positive relationships with a number of business performance measures in all three other types of subsidiaries, suggesting that market orientation is a key driver for business performance at foreign subsidiaries.

Exporting and productivity in business services:evidence from the United States

Does exporting make firms more productive, or do more productive firms choose to become exporters? This paper considers the link between exporting and productivity for a sample of firms in US business services. We find that larger, more productive firms are more likely to become exporters, but that these factors do not necessarily influence the extent of exporting. This conforms with previous literature that there is a self-selection effect into exporting. We then test for the effect of exporting on productivity levels after allowing for this selection effect. We model both the relationship between exporting and productivity, and a simultaneous relationship between export intensity and productivity after allowing for selection bias. In both cases we find an association, indicating that productivity is positively linked both to exporting and to increased exposure to international markets.

Exploring the dimensions and transactional outcomes of incomplete business contracts

With an increased emphasis on outsourcing and shortening business cycles, contracts between firms have become more important. Carefully written contracts contribute to the efficiency and longevity of inter-firm relationships as they may constrain opportunism and are often a less costly governance mechanism than maintaining complex social relationships (Larson 1992). This exploratory examination adds to our understanding of how incomplete contracts affect interorganizational exchange. First, we consider the multiple dimensions of contract constraints (safeguards). We also investigate the extent that constraints affect decisions to enforce the relationship by delaying payments, and whether the decision is efficient. Finally, we examine the extent the constraints are effective (and ineffective) at reducing transaction problems associated with enforcement. Based on 971 observations of transactions using explicit, written terms and other secondary data in the context of IT transaction in The Netherlands we test our research propositions.

The multinational enterprise as a source of international knowledge flows:Direct evidence from Italy

This paper examines the determinants of technology transfer between parent firms and their international affiliates, and of knowledge spillovers from those affiliates to host-country firms. Using a unique data set of foreign multinational enterprise (MNE) affiliates based in Italy, we find that affiliate investment in R&D and investment in capital-embodied technology plays a significant role in determining the nature of intra-firm technology flows. However, the basis for any spillovers arising from MNE affiliates does not originate from codified knowledge associated with R&D, but rather from the productivity of the affiliate.

Market risk reporting by the world's top banks:evidence on the diversity of reporting practice and the implications for international accounting harmonisation

The increasing adoption of international accounting standards and global convergence of accounting regulations is frequently heralded as serving to reduce diversity in financial reporting practice. In a process said to be driven in large part by the interests of international business and global financial markets, one might expect the greatest degree of convergence to be found amongst the world’s largest multinational financial corporations. This paper challenges such claims and presumptions. Its content analysis of longitudinal data for the period 2000-2006 reveals substantial, on going diversity in the market risk disclosure practices, both numerical and narrative, of the world’s top-25 banks. The significance of such findings is reinforced by the sheer scale of the banking sector’s risk exposures that have been subsequently revealed in the current global financial crisis. The variations in disclosure practices documented in the paper apply both across and within national boundaries, leading to a firm conclusion that, at least in terms of market risk reporting, progress towards international harmonisation remains rather more apparent than real.

Rethinking management theory and practice for the Indian context:an international management perspective

The Indian economy characterized variously as a slumbering giant, powerful tiger, and the most promising market has witnessed a slowdown, occasional disturbances in the industrial relations space, and attention of the world in the last five years. In this special issue, we raise pertinent questions and present research on multiple dimensions of the dynamic and rapidly changing business environment of India. The suitability of management models and frameworks developed in the North American contexts in emerging markets like India and China is questioned. One example of how the well-established models in the literature on success of international joint ventures were insufficient to explain the success of three international joint ventures in the insurance space in India is presented as case in point. Finally, the nine papers that materially contribute to the theme of this special issue are introduced. © 2016 Wiley Periodicals, Inc.

Introduction

Focusing on HRM developments in thirteen developing countries across Asia, Africa and the Middle East, this book explores the contextual functions of HR in these countries. In addition, it analyzes the more general issues of HRM in cross-national settings to give readers an understanding of HR that is both comparative and contextual. Covering the policies and practices of China, South Korea, Taiwan, India, Nepal, Pakistan, Iran, Saudi Arabia, Algeria, Nigeria, Ghana, Kenya and South Africa, each chapter follows a framework that draws out all of the unique and diverse configurations of HRM. This important text is an invaluable resource for all HRM practitioners, students and scholars of HRM, international HRM and international business.

The effect of human resource management policies on organizational performance in Greek manufacturing firms

This article investigates if human resource management (HRM) policies have an impact on organizational performance in the Greek manufacturing context. The research is based on a sample of 178 firms. The "universalistic model" of HRM is adopted to conduct the investigation. The results show strong support for the model, indicating that the HRM policies of recruitment, training, promotion, incentives, benefits, involvement, and health and safety are positively related with organizational performance. The study both contributes to HRM theory and has important implications for practitioners. © 2007 Wiley Periodicals, Inc.