Internal Changes in International New Ventures During Initial Internationalization: Finnish SMEs Operating in Dynamic High-tech Industries

The purpose of this qualitative research is to study how international new ventures change internally during initial internationalization. Based on the analysis of seven INV firms, a framework illustrating this change process, will be developed. This research will also develop earlier theories, and create a solid combination of existing theories to explain the phenomenon. INV firms internationalize more rapidly and aggressively than traditional MNEs. At the same, external and internal drivers cause changes in INVs culture, resources, capabilities, strategic management, and output decisions inside the company. Organizational learning and resource acquisition through international business networks explain how INVs are able to cope with the dynamic high-technology industry and be able to adapt. Internationalization of INVs proceeds through several phases, which may be gone through rapidly due to the network effects and INVs’ special characteristics. The results of this research revealed that INVs internal change process proceeds through four phases; pre-incorporation phase, product development phase, internationalization and growth phase, and maturation phase. INVs culture, resources, capabilities, strategic management, and outputs change significantly during initial internationalization, and INVs develop from small start-ups into fully established companies.

International Entrepreneurship in Bottom of the Pyramid Markets – Overcoming institutional constraints

Bottom of the pyramid (BoP) markets are an underserved market of approximately four billion people living on under $5 a day in four regional areas: Africa, Asia, Eastern Europe and Latin America. According to estimations, the BoP market forms a $5 trillion global consumer market. Despite the potential of BoP markets, companies have traditionally focused on serving the markets of developed countries and ignored the large customer group at the bottom of the pyramid. The BoP approach as first developed by Prahalad and Hart in 2002 has focused on multinational corporations (MNCs), which were thought of as the ones who should take responsibility in serving the customers at the bottom of the pyramid. This study challenges this proposition and gives evidence that also smaller international new ventures – entrepreneurial firms that are international from their birth, can be successful in BoP markets. BoP markets are characterized by a number of deficiencies in the institutional environment such as strong reliance on informal sector, lack of infrastructure and lack of skilled labor. The purpose of this study is to increase the understanding of international entrepreneurship in BoP markets by analyzing how international new ventures overcome institutional constraints in BoP markets and how institutional uncertainty can be exploited by solving institutional problems. The main objective is divided into four sub objectives. • To describe the opportunities and challenges BoP markets present • To analyze the internationalization of INVs to BoP markets • To examine what kinds of strategies international entrepreneurs use to overcome institutional constraints • To explore the opportunities institutional uncertainty offers for INVs Qualitative approach was used to conduct this study and multiple-case study was chosen as a research strategy in order to allow cross-case analysis. The empirical data was collected through four interviews with the companies Fuzu, Mifuko, Palmroth Consulting and Sibesonke. The results indicated that understanding of the wider institutional environment improves the survival prospects of INVs in BoP markets and that it is indeed possible to exploit institutional uncertainty by solving institutional problems. The main findings were that first-hand experience of the markets and grassroots levels of information are the best assets in internationalization to BoP markets. This study highlights that international entrepreneurs with limited resources can improve the lives of people at the BoP with their business operations and act as small-scale institutional entrepreneurs contributing to the development of the institutional environment of BoP markets.

The role of public export promotion in Finland Industry view of public export promotion in Southwest Finland

The role of the public export promotion in Finland needed more research. The part of the public sector export promotion in the overall export is significant. In an ever more global world not only the companies but also the counties compete against each other and the governments have an interest to boost their economy as much as they are able to. Every industrialized country has export promotion services in some form or another. In the 21st century the tendency has been the bundling of the services and this has also been done in Finland with Team Finland. The role and the efficiency of the services provided deserve more research. The research question of this study is: What is the role of the public export promotion services in Finland? The question is researched primary by expert interviews conducted for this study. The situation in Southwest Finland is studied from the viewpoint of the companies of the region by conducting a survey aimed to the successfully internationalized companies of the region and asking them on their views on the impact and role of public export services in their internationalization. The theory base is formed out of various export promotion studies, studies monitoring the effects of the promotion and theories of the internationalization process of companies. The primary material for the study are the three expert interviews conducted and the answers to the survey conducted. The research method in the first part is a constructive qualitative research. The research approach in the second part, where the views of the companies in Southwest Finland are studied, is quantitative. The study findings from the expert interviews: the aligning of the public export promotion done in Finland to the previous research and the addition of the role of the public sector in classical frameworks. The study findings from the survey: the utilizing of the public export promotion services is heavily delayed and the internationalizing companies start to utilize the services very late in their internationalization process, the average being 10,3 years from the beginning of the internationalization. Another central finding from the survey is that the successfully internationalized companies see the public export promotion services generally as highly beneficial but in the light of the answers the effect on their own company is not as significant. Concluding can be stated that the public export promotion is seen as beneficial, but the monitoring of the efficiency is complicated in the case of services. Getting the companies to start utilizing the services earlier in their internationalization needs attention from the service providers. By communicating the achieved results and benefits better to the potential users of the services the internationalization process of the companies could be accelerated

A Comparative Study on Internationalization and the Role of International Offices at Selected Middle Eastern and German Universities

Internationalization of higher education has become one of the most important policies for institutions of higher education worldwide. Though universities are international by nature, the need for intensified quality activities of international nature has promoted internationalization to be under spotlight of researchers, administrators and policy makers and to be an area for research. Each institution follows its certain way to govern its international affairs. Most Universities, especially in the 'Developed World' started to plan it strategically. This study explores the meanings and importance of internationalization especially that it means different things to different people. It also studies the rationales behind internationalizing higher education. It focuses on the four main prevailing rationales; political, cultural/social, economic/financial, and academic on both national and institutional levels. With the increasing need to strategically plan, the study explores internationalization strategies in terms of how to develop them, what are their approaches and types, and their components and dimensions. Damascus University has witnessed an overwhelming development of its international relations and activities. Therefore, it started to face a problem of how to deal with this increasing load especially that its International Office is the only unit that deals with the international issues. In order to study the internationalization phenomenon at Damascus University, the 2WH approach, which asks the what, why, and how questions, is used and in order to define the International Office's role in the internationalization process of the University, it studies it and the international offices of Kassel University, and Humboldt University in Germany, The University of Jordan, and Al Baath University in Syria using the 'SOCIAL' approach that studies and analyses the situation, organization, challenges, involvement, ambitions, and limitations of these offices. The internationalization process at the above-mentioned Universities is studied and compared in terms of its meaning, rationales for both the institution and its academic staff, challenges and strategic planning. Then a comparison is made among the international offices of the Universities to identify their approaches, what led to their success and what led to their failure in their practices. The aim is to provide Damascus University and its International Office with some good practices and, depending on the experiences of the professionals of the case-studies, a suggested guidance to the work of this Office and the University in general is given. The study uses the interviews with the different officials and stakeholders of the case-studies as the main method of collecting the information in addition to site visits, studying their official documents and their websites. The study belongs to qualitative research that has an action dimension in it since the recommendations will be applied in the International Office. The study concludes with few learned lessons for Damascus University and its International Office depending on the comparison that was done according to a set of dimensions. Finally a reflection on the relationship between internationalization of higher education and politics, the impact of politics on Middle Eastern Universities, and institutional internationalization strategies are presented.

A review of growth for construction service companies in global markets

Throughout the developed world, professional services play an increasingly important part in an economy, with many countries showing a substantial positive trade balance for services. Yet, there has been relatively little research on construction services (CS) and, in particular, how well professional service companies (PSFs) perform in the international arena. The method for collecting services export information differs to the way in which goods and products exports data are gathered because of the intangible nature of services. Organisational growth of companies aims to share risks across different regions and sectors, however, the rapidly changing business environment challenges companies with the increasing foreign ownership and changes in procurement. The complexity of today’s international construction services organisations raises two questions: how the organisations can successfully manage growth and what are their motives for international trade. The research focuses on top UK consulting engineering companies to understand their organisational strategy, their export strategy, and drivers for overseas activities. The data will feed a model of professional services exports, which can help to inform the way services export data could be collected to better reflect the industry’s performance.

Progress report on longitudinal and cross-sectional study of carbon disclosure strategies: evidence from UK listed companies

Global warming has attracted attention from all over the world and led to the concern about carbon emission. Kyoto Protocol, as the first major international regulatory emission trading scheme, was introduced in 1997 and outlined the strategies for reducing carbon emission (Ratnatunga et al., 2011). As the increased interest in carbon reduction the Protocol came into force in 2005, currently there are already 191 nations ratifying the Protocol(UNFCCC, 2012). Under the cap-and-trade schemes, each company has its carbon emission target. When company’s carbon emission exceeds the target the company will either face fines or buy emission allowance from other companies. Thus unlike most of the other social and environmental issues carbon emission could trigger cost for companies in introducing low-emission equipment and systems and also emission allowance cost when they emit more than their targets. Despite the importance of carbon emission to companies, carbon emission reporting is still operating under unregulated environment and companies are only required to disclose when it is material either in value or in substances (Miller, 2005, Deegan and Rankin, 1997). Even though there is still an increase in the volume of carbon emission disclosures in company’s financial reports and stand-alone social and environmental reports to show their concern of the environment and also their social responsibility (Peters and Romi, 2009), the motivations behind corporate carbon emission disclosures and whether carbon disclosures have impact on corporate environmental reputation and financial performance have not yet to explore. The problems with carbon emission lie on both the financial side and non-financial side of corporate governance. On one hand corporate needs to spend money in reducing carbon emission or paying penalties when they emit more than allowed. On the other hand as the public are more interested in environmental issues than before carbon emission could also impact on the image of corporate regarding to its environmental performance. The importance of carbon emission issue are beginning to be recognized by companies from different industries as one of the critical issues in supply chain management (Lee, 2011) and 80% of companies analysed are facing carbon risks resulting from emissions in the companies’ supply chain as shown in a study conducted by the Investor Responsibility Research Centre Institute for Corporate Responsibility (IRRCI) and over 80% of the companies analysed found that the majority of greenhouse gas (GHG) emission are from electricity and other direct suppliers (Trucost, 2009). The review of extant literature shows the increased importance of carbon emission issues and the gap in the study of carbon reporting and disclosures and also the study which links corporate environmental reputation and corporate financial performance with carbon reporting (Lohmann, 2009a, Ratnatunga and Balachandran, 2009, Bebbington and Larrinaga-Gonzalez, 2008). This study would focus on investigating the current status of UK carbon emission disclosures, the determinant factors of corporate carbon disclosure, and the relationship between carbon emission disclosures and corporate environmental reputation and financial performance of UK listed companies from 2004-2012 and explore the explanatory power of classical disclosure theories.

How does foreign capital participation affect brazilian companies' performance?: investigation of foreign direct investment's impact on host country

In this dissertation, we investigate the effect of foreign capital participations in Brazilians companies’ performance. To carry out this analysis, we constructed two sets of model based on EBITDA margin and return on equity. Panel data analysis is used to examine the relationship between foreign capital ownership and Brazilian firms’ performance. We construct a cross-section time-series sample of companies listed on the BOVESPA index from 2006 to 2010. Empirical results led us to validate two hypotheses. First, foreign capital participations improve companies’ performance up to a certain level of participation. Then, joint controlled or strategic partnership between a Brazilian company and a foreign investor provide high operating performance.

Dip financing of financially distressed companies in Brazil – the conditions provided by the brazilian bankruptcy law act as real incentives for dip lenders as in chapter 11 of the American bankruptcy code?

O objeto deste trabalho é a compreensão do financiamento de empresas em crise, mais especificamente, o financiamento concedido após o pedido de recuperação judicial, como forma de permitir que a empresa saia da situação de crise e retorne à condição de normalidade. Para tanto, nos apropriando do termo cunhado pela doutrina norte-americana, para fazer referência ao aporte de recursos em empresas em dificuldade, utilizaremos o termo DIP financing ou financiamento DIP. Para uma compreensão adequada do objeto, é necessário que entendamos a origem do DIP financing nos Estados Unidos e como é a regulação norte-americana sobre a matéria atualmente. O segundo passo será avaliar a possibilidade de aplicação da mesma estrutura de aporte de recursos no Brasil. Ao estudarmos a origem desse mecanismo nos Estados Unidos, veremos os problemas que surgiram ao longo dos anos e como foram superados jurisprudencialmente e doutrinariamente para que o financiamento DIP se consolidasse como uma das formas de aporte de capital em empresas em crise, culminando no desenvolvimento de uma verdadeira indústria de crédito às empresas em dificuldade. Uma análise dos problemas enfrentados pelo sistema falimentar americano nos levará a hipótese de que, a menos que sejam afirmados mecanismos que assegurem a quem concede o financiamento após o pedido de recuperação judicial, uma super prioridade no recebimento após a recuperação judicial, será possível o desenvolvimento de um mercado de DIP financing no Brasil.

Impact of worksite health-promotion programs in hospital admission costs and medical leaves in a sample of brazilian companies

Programas de saúde e bem-estar têm sido adotados por empresas como forma de melhorar a saúde de empregados, e muitos estudos descrevem retornos econômicos positivos sobre os investimentos envolvidos. Entretanto, estudos mais recentes com metodologia melhor têm demonstrado retornos menores. O objetivo deste estudo foi investigar se características de programas de saúde e bem-estar agem como preditores de custos de internação hospitalar (em Reais correntes) e da proporção de funcionários que têm licença médica, entre Abril de 2014 e Maio de 2015, em uma amostra não-aleatória de empresas no Brasil, através de parceria com uma empresa gestora de ‘big data’ para saúde. Um questionário sobre características de programas de saúde no ambiente de trabalho foi respondida por seis grandes empresas brasileiras. Dados retirados destes seis questionários (presença e idade de programa de saúde, suas características – inclusão de atividades de screening, educação sobre saúde, ligação com outros programas da empresa, integração do programa à estrutura da empresa, e ambientes de trabalho voltado para a saúde – e a adoção de incentivos financeiros para aderência de funcionários ao programa), bem como dados individuais de idade, gênero e categoria de plano de saúde de cada empregado , foram usados para construir um banco de dados com mais de 76.000 indivíduos. Através de um modelo de regressão múltipla e seleção ‘stepwise’ de variáveis, a idade do empregado foi positivamente associada e a idade do programa de saúde e a categoria ‘premium’ de plano de saúde do funcionário foram negativamente associadas aos custos de internação hospitalar (como esperado). Inesperadamente, a inclusão de programas de screening e iniciativas de educação de saúde nos programas de saúde e bem-estar nas empresas foram identificados como preditores positivos significativos para custos de admissão hospitalar. Para evitar a inclusão errônea de licenças-maternidade, apenas os dados de licença médica de pacientes do sexo masculino foram analisados (dados disponíveis apenas para duas entre as companhias incluídas, com um total de 18.957 pacientes do sexo masculino). Analisando estes dados através de um teste Z para comparação de proporções, a empresa com programa de saúde que inclui atividades voltadas a cessação de hábitos ruins (como tabagismo e etilismo), controle de diabetes e hipertensão, e que adota incentivos financeiros para a aderência de funcionários ao programa tem menor proporção de empregados com licençca médica no período analisado, quando comparada com a outra empresa que não tem estas características (também conforme esperado). Entretanto, a companhia com menor proporção de funcionários com licença médica também foi aquela que adota programa de screening entre as atividades de seu programa de saúde. Potenciais fontes de ameaça à validade interna e externa destes resultados são discutidas, bem como possíveis explicações para a associação entre programas de screening e educação médica a piores indicadores de saúde nesta amostra de companhias são discutidas. Novos estudos com melhor desenho, com amostras maiores e randômicas são necessários para validar estes resultados e possivelmente melhorar a validade interna e externa destes resultados.

Trends in Funding, Internationalization, and Types of Study for Original Articles Published in Five Implant-Related Journals Between 2005 and 2009

Purpose: The aims of this study were to evaluate the trends in funding, geographic origin, and study types of original articles in the dental implant literature and to investigate the relationships among these factors. Materials and Methods: Articles published in Clinical Oral Implants Research, The International Journal of Oral & Maxillofacial Implants, Clinical Implant Dentistry and Related Research, Implant Dentistry, and Journal of Oral Implantology from 2005 to 2009 were reviewed. Nonoriginal articles were excluded. For each article included, extramural funding source, geographic origin, and study type were recorded. Descriptive and analytic analyses (alpha = .05), including a logistic regression analysis, and chi-square test were used where appropriate. Results: of a total of 2,085 articles published, 1,503 met the inclusion criteria. The most common source of funding was from industry (32.4%). The proportion of studies that reported funding increased significantly over time. Europe represented the highest percentage (55.8%) of published articles. Most of the articles reported on clinical studies (49.9%), followed by animal studies (25.9%). Articles from Asia and South America and animal and in vitro studies were significantly more likely to be funded. Conclusion: Almost half of the original dental implant articles were funded. The trend toward internationalization of authorship was evident. A strong association was observed between funding and geographic origin and between funding and study type. Most studies in North America and Europe were clinical studies and supported by industry, whereas a greater proportion of studies in Asia and South America were in vitro or animal studies funded through government resources. INT J ORAL MAXILLOFAC IMPLANTS 2012;27:69-76

The strategies of multinational companies in 1990s Argentina

Includes bibliography

Latin America’s emergence in global services A new driver of structural change in the region?

Includes bibliography.

Understanding the genesis of green supply chain management: lessons from leading Brazilian companies

This work discusses the internal structuring processes of leading companies when adopting green supply chain management (GSCM) practices. A multiple case study approach was adopted as the research methodology, with four large Brazilian companies that are leaders in their market segments. The introduction of green products is a key step towards initiating concern for the environment among suppliers and customers. This study's results show the importance of having green teams, a dedicated functional area, and/or green jobs that support the discussion of environmental management among a business and beyond. The practical results of this study offer new insights into the behavior of companies that are adopting GSCM practices, thereby generating new evidence for the extension of GSCM theory. (C) 2014 Elsevier Ltd. All rights reserved.

Environmental training and environmental management maturity of Brazilian companies with ISO14001: empirical evidence

Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

Strategic decision making in international firms: effect of top management team internationalization on international strategic decision process

In this research project, I have integrated two research streams on international strategic decisions making in international firms: upper echelons or top management teams (TMT) internationalization research and international strategic decision making process research. Both research streams in international business literature have evolved independently, but there is a potential in combining these two streams of research. The first empirical paper “TMT internationalization and international strategic decision making process: a decision level analysis of rationality, speed, and performance” explores the influence of TMT internationalization on strategic decision rationality and speed and, subsequently, their effect on international strategic decision effectiveness (performance). The results show that the internationalization of TMT is positively related to decision effectiveness and this relationship is mediated by decision rationality while the hypotheses regarding the association between TMT internationalization and decision speed, and the mediating effect of speed were not supported. The second paper “TMT internationalization and international strategic decision rationality: the mediating role of international information” of my thesis is a simple but logical extension of first paper. The first paper showed that TMT Internationalization has a significant positive effect on international strategic decision rationality. The second paper explicitly showed that TMT internationalization affect on international strategic decision rationality comes from two sources: international experience (personal international knowledge and information) and international information collected from managerial international contacts. For this research project, I have collected data from international software firms in Pakistan. My research contributes to the literature on upper echelons theory and strategic decision making in context of international business and international firms by explicitly examining the link between TMT internationalization and characteristics of strategic decisions making process (i.e. rationality and speed) in international firms and their possible mediating effect on performance.