Ownership characteristics and access to finance:evidence from a survey of large privatised companies in Hungary and Poland

We examine financial constraints and forms of finance used for investment, by analysing survey data on 157 large privatised companies in Hungary and Poland for the period 1998 - 2000. The Bayesian analysis using Gibbs sampling is carried out to obtain inferences about the sample companies' access to finance from a model for categorical outcome. By applying alternative measures of financial constraints we find that foreign companies, companies that are part of domestic industrial groups and enterprises with concentrated ownership are all less constrained in their access to finance. Moreover, we identify alternative modes of finance since different corporate control and past performance characteristics influence the sample firms' choice of finance source. In particular, while being industry-specific, the access to domestic credit is positively associated with company size and past profitability. Industrial group members tend to favour bond issues as well as sells-offs of assets as appropriate types of finance for their investment programmes. Preferences for raising finance in the form of equity are associated with share concentration in a non-monotonic way, being most prevalent in those companies where the dominant owner holds 25%-49% of shares. Close links with a leading bank not only increase the possibility of bond issues but also appear to facilitate access to non-banking sources of funds, in particular, to finance supplied by industrial partners. Finally, reliance on state finance is less likely for the companies whose profiles resemble the case of unconstrained finance, namely, for companies with foreign partners, companies that are part of domestic industrial groups and companies with a strategic investor. Model implications also include that the use of state funds is less likely for Polish than for Hungarian companies.

Institutions, resources, and entry strategies in emerging economies

We investigate the impact of market-supporting institutions on business strategies by analyzing the entry strategies of foreign investors entering emerging economies. We apply and advance the institution-based view of strategy by integrating it with resource-based considerations. In particular, we show how resource-seeking strategies are pursued using different entry modes in different institutional contexts. Alternative modes of entry—greenfield, acquisition, and joint venture (JV)—allow firms to overcome different kinds of market inefficiencies related to both characteristics of the resources and to the institutional context. In a weaker institutional framework, JVs are used to access many resources, but in a stronger institutional framework, JVs become less important while acquisitions can play a more important role in accessing resources that are intangible and organizationally embedded. Combining survey and archival data from four emerging economies, India, Vietnam, South Africa, and Egypt, we provide empirical support for our hypotheses.

Understanding Immigrants' Travel Behavior in Florida: Neighborhood Effects and Behavioral Assimilation

The goal of this study was to develop Multinomial Logit models for the mode choice behavior of immigrants, with key focuses on neighborhood effects and behavioral assimilation. The first aspect shows the relationship between social network ties and immigrants’ chosen mode of transportation, while the second aspect explores the gradual changes toward alternative mode usage with regard to immigrants’ migrating period in the United States (US). Mode choice models were developed for work, shopping, social, recreational, and other trip purposes to evaluate the impacts of various land use patterns, neighborhood typology, socioeconomic-demographic and immigrant related attributes on individuals’ travel behavior. Estimated coefficients of mode choice determinants were compared between each alternative mode (i.e., high-occupancy vehicle, public transit, and non-motorized transport) with single-occupant vehicles. The model results revealed the significant influence of neighborhood and land use variables on the usage of alternative modes among immigrants. Incorporating these indicators into the demand forecasting process will provide a better understanding of the diverse travel patterns for the unique composition of population groups in Florida.

The Punk-Rock King: Musical Anachronism in Period Film

Music has a powerful indexical ability to evoke particular times and places. Such an ability has been exploited at length by the often-elaborate soundscapes of period films, which regularly utilise incidental scores and featured period songs to help root their narrative action in past times, and to immerse their audiences in the sensibilities of a different age. However, this article will begin to examine the ways in which period film soundtracks can also be used to complicate a narrative sense of time and place through the use of ‘musical anachronism’: music conspicuously ‘out of time’ with the temporality depicted on screen. Through the analysis of a sequence from the film W.E. (Madonna, 2011) and the consideration of existing critical and conceptual contexts, this article will explore how anachronistic soundtracks can function beyond ‘postmodern novelty’ or ‘nuisance’ to historical verisimilitude, instead offering alternative modes of engagement with story and history.

Przestrzenne formy upamiętniania Zagłady

This book is a synthesizing reflection on the Holocaust commemoration, in which space becomes a starting point for discussion. The author understands space primarily as an amalgam of physical and social components, where various commemorative processes may occur. The first part of the book draws attention to the material aspect of space, which determines its character and function. Material culture has been a long ignored and depreciated dimension of human culture in the humanities and social sciences, because it was perceived as passive and fully controlled by human will, and therefore insignificant in the course of social and historical processes. An example of the Nazi system perfectly illustrates how important were the restrictions and prohibitions on the usage of mundane objects, and in general, the whole material culture in relation to macro and micro space management — the state, cities, neighborhoods and houses, but also parks and swimming pools, factories and offices or shops and theaters. The importance of things and space was also clearly visible in exploitative policies present in overcrowded ghettos and concentration and death camps. For this very reason, when we study spatial forms of Holocaust commemoration, it should be acknowledged that the first traces, proofs and mementoes of the murdered were their things. The first "monuments" showing the enormity of the destruction are thus primarily gigantic piles of objects — shoes, glasses, toys, clothes, suitcases, toothbrushes, etc., which together with the extensive camps’ space try to recall the scale of a crime impossible to understand or imagine. The first chapter shows the importance of introducing the material dimension in thinking about space and commemoration, and it ends with a question about one of the key concepts for the book, a monument, which can be understood as both object (singular or plural) and architecture (sculptures, buildings, highways). However, the term monument tends to be used rather in a later and traditional sense, as an architectural, figurative form commemorating the heroic deeds, carved in stone or cast in bronze. Therefore, the next chapter reconstructs this narrower line of thinking, together with a discussion about what form a monument commemorating a subject as delicate and sensitive as the Holocaust should take on. This leads to an idea of the counter-monument, the concept which was supposed to be the answer to the mentioned representational dilemma on the one hand, and which would disassociate it from the Nazi’s traditional monuments on the other hand. This chapter clarifies the counter-monument definition and explains the misunderstandings and confusions generated on the basis of this concept by following the dynamics of the new commemorative form and by investigating monuments from the ‘80s and ‘90s erected in Germany. In the next chapter, I examine various forms of the Holocaust commemoration in Berlin, a city famous for its bold, monumental, and even controversial projects. We find among them the entire spectrum of memorials – big, monumental, and abstract forms, like Peter Eisenman’s Memorial to the Murdered Jews of Europe or Daniel Liebeskind’s Jewish Museum Berlin; flat, invisible, and employing the idea of emptiness, like Christian Boltanski’s Missing House or Micha Ullman’s Book Burning Memorial; the dispersed and decentralized, like Renata Stih and Frieder Schnock’s Memory Places or Gunter Demnig’s Stumbling Blocks. I enrich descriptions of the monuments by signaling at this point their second, extended life, which manifests itself in the alternative modes of (mis)use, consisting of various social activities or artistic performances. The formal wealth of the outlined projects creates a wide panorama of possible solutions to the Holocaust commemoration problems. However, the discussions accompanying the building of monuments and their "future life" after realization emphasize the importance of the social component that permeates the biography of the monument, and therefore significantly influences its foreseen design. The book also addresses the relationship of space, place and memory in a specific situation, when commemoration is performed secretly or remains as unrealized potential. Although place is the most common space associated with memory, today the nature of this relationship changes, and is what indicates popularity and employment of such terms as Marc Augé’s non-places or Pierre Nora’s site of memory. I include and develop these concepts about space and memory in my reflections to describe qualitatively different phenomena occurring in Central and Eastern European countries. These are unsettling places in rural areas like glades or parking lots, markets and playgrounds in urban settings. I link them to the post-war time and modernization processes and call them sites of non-memory and non-sites of memory. Another part of the book deals with a completely different form of commemoration called Mystery of memory. Grodzka Gate - NN Theatre in Lublin initiated it in 2000 and as a form it situates itself closer to the art of theater than architecture. Real spaces and places of everyday interactions become a stage for these performances, such as the “Jewish town” in Lublin or the Majdanek concentration camp. The minimalist scenography modifies space and reveals its previously unseen dimensions, while the actors — residents and people especially related to places like survivors and Righteous Among the Nations — are involved in the course of the show thanks to various rituals and symbolic gestures. The performance should be distinguished from social actions, because it incorporates tools known from religious rituals and art, which together saturate the mystery of memory with an aura of uniqueness. The last discussed commemoration mode takes the form of exposition space. I examine an exhibition concerning the fate of the incarcerated children presented in one of the barracks of the Majdanek State Museum in Lublin. The Primer – Children in Majdanek Camp is unique for several reasons. First, because even though it is exhibited in the camp barrack, it uses a completely different filter to tell the story of the camp in comparison to the exhibitions in the rest of the barracks. For this reason, one experiences immersing oneself in all subsequent levels of space and narrative accompanying them – at first, in a general narrative about the camp, and later in a specifically arranged space marked by children’s experiences, their language and thinking, and hence formed in a way more accessible for younger visitors. Second, the exhibition resigns from didacticism and distancing descriptions, and takes an advantage of eyewitnesses and survivors’ testimonies instead. Third, the exhibition space evokes an aura of strangeness similar to a fairy tale or a dream. It is accomplished thanks to the arrangement of various, usually highly symbolic material objects, and by favoring the fragrance and phonic sensations, movement, while belittling visual stimulations. The exhibition creates an impression of a place open to thinking and experiencing, and functions as an asylum, a radically different form to its camp surrounding characterized by a more overwhelming and austere space.

Alternative reproductive modes of Atlantic forest frogs

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

Alternative transportation modes feasibility study /

"NPS D-944"--Vol. 1, p. 3 of cover.

Testing Spatial Autocorrelation in Weighted Networks : the Modes Permutation Test

In a weighted spatial network, as specified by an exchange matrix, the variances of the spatial values are inversely proportional to the size of the regions. Spatial values are no more exchangeable under independence, thus weakening the rationale for ordinary permutation and bootstrap tests of spatial autocorrelation. We propose an alternative permutation test for spatial autocorrelation, based upon exchangeable spatial modes, constructed as linear orthogonal combinations of spatial values. The coefficients obtain as eigenvectors of the standardised exchange matrix appearing in spectral clustering, and generalise to the weighted case the concept of spatial filtering for connectivity matrices. Also, two proposals aimed at transforming an acessibility matrix into a exchange matrix with with a priori fixed margins are presented. Two examples (inter-regional migratory flows and binary adjacency networks) illustrate the formalism, rooted in the theory of spectral decomposition for reversible Markov chains.

Testing Spatial Autocorrelation in Weighted Networks : the Modes Permutation Test

In a weighted spatial network, as specified by an exchange matrix, the variances of the spatial values are inversely proportional to the size of the regions. Spatial values are no more exchangeable under independence, thus weakening the rationale for ordinary permutation and bootstrap tests of spatial autocorrelation. We propose an alternative permutation test for spatial autocorrelation, based upon exchangeable spatial modes, constructed as linear orthogonal combinations of spatial values. The coefficients obtain as eigenvectors of the standardised exchange matrix appearing in spectral clustering, and generalise to the weighted case the concept of spatial filtering for connectivity matrices. Also, two proposals aimed at transforming an acessibility matrix into a exchange matrix with with a priori fixed margins are presented. Two examples (inter-regional migratory flows and binary adjacency networks) illustrate the formalism, rooted in the theory of spectral decomposition for reversible Markov chains.

Entry Modes for Finnish Firms into the Zambian Renewable Energy Industry

The renewable energy industry in Zambia is poised for growth and offers many possibilities for Finnish firms willing to enter the market. The Zambian government’s deliberate policy measures aim at attracting foreign direct investment (FDI) into this sector. This study rationalises that this could be the pull factor for Finnish firms. The thesis gives an overview of the industry and investigates an appropriate mode of entry, basing its arguments on the comparison analysis of the two economies with the use of the world forum’s stages of economic development as a framework. The theoretical part of the study examines internationalisation theories, entry mode choice and factors influencing the choice. The multiple case study approach is implored, analysing four case companies from Finland with the use of extant literature on internationalisation relevant to the study. The research design involves the use of documentation, secondary data, interviews and observation. The results of the case analyses show that the Finnish firm’s most preferred entry mode initially is exporting because it is considered to be less risky. Additionally, the findings also reveal that the selection of a suitable mode of entry is dependent on the firms’ size, orientation and international experience and could therefore be considered to be subjective. Paramount is the act of gaining market knowledge. The study shows that only hydro-electrical, solar energies and biomass are by far the most used and known forms of renewable energy in Zambia, while other alternative sources still remain un-exploited thus highlighting a growth potential. However, policy formulation and the regulatory framework in the renewable energy sector were found to be wanting.

Élections expérimentales : la désertion stratégique et la participation sous différents modes de scrutin

Cette thèse s'intéresse au lien qui existe entre le système électoral et deux comportements importants de la vie civique, soit la participation à une élection et la désertion stratégique du candidat préféré vers un autre candidat. Ces thèmes sont abordés dans de nombreux et de très importants ouvrages en science politique. En passant par la théorie (Downs, 1957) jusqu'à des études de terrain par l'entremise de sondages (Abramson, 2010; Blais, 2010), diverses méthodologies ont été employées pour mieux expliquer les choix des électeurs. Ma contribution à l'avancement des connaissances dans ce domaine passe par l'usage de la méthode expérimentale pour mieux saisir les similitudes et différences dans les comportements des électeurs sous le système uninominal à un tour (UT) et la représentation proportionnelle (RP) ainsi que les mécanismes au niveau individuel qui produisent ces similitudes et différences. Le cœur de la thèse est composé des trois articles dont voici les résumés : Article 1. Des élections expérimentales faites à Montréal, Paris et Bruxelles permettent d'estimer l’influence directe du mode de scrutin sur la décision des électeurs de voter ou non, et de voter pour leur parti préféré ou non. En tout, 16 groupes de 21 électeurs votent sous différents systèmes électoraux, soit le UT et la RP. Les préférences sont attribuées aléatoirement et connues de tous les participants. Nos résultats indiquent que le vote n'est pas globalement plus sincère et que la participation électorale n'est pas plus élevée sous le système proportionnel. Toutefois, nous observons moins de désertion d'un petit parti sous le système proportionnel. Article 2. Les expériences permettent également d'expliquer pourquoi les électeurs votent parfois pour un parti autre que leur parti préféré. La conclusion principale est que la décision de voter de façon sincère ou non est influencée par les préférences individuelles, mais aussi par les perceptions des chances de gagner des candidats ainsi que des chances que son propre vote puisse décider le résultat de l'élection. Les électeurs qui désertent leur premier choix prennent en considération quel candidat est le plus près de leurs positions politiques, mais également de la viabilité de cette alternative. De plus, les électeurs qui aiment prendre des risques ont davantage tendance à déserter. Article 3. Le modèle de l'électeur pivot est mis à l'épreuve pour mieux comprendre la décision de voter ou non lors d'une élection. Nos expériences permettent de répliquer, avec un devis expérimental différent, les résultats importants des travaux de Duffy et Tavits (2008). Nos résultats confirment que la perception d'être pivot augmente la participation, que ces perceptions sont sujettes à la surestimation et que cette surestimation ne décline pas complètement dans le temps. Nous allons également plus loin que les recherches de Duffy et Tavits et nous trouvons que la participation n'est pas plus forte sous RP que sous UT et que la probabilité d'être pivot a un impact plus important chez les électeurs évitant de prendre des risques.

Le développement des modes alternatifs de règlement des litiges de consommation : Quelques réflexions inspirées par l’expérience ECODIR

"ECODIR a vu le jour en octobre 2001, à Bruxelles, grâce à la contribution financière entre autres de l’Union européenne. C’est une plate-forme de règlement des litiges de consommation par Internet. Son champ d’action est limité, en raison des termes du contrat de recherche conclu avec la Commission européenne et de certaines contraintes juridiques. Il ne couvre que les conflits mettant en cause au moins un consommateur et relatifs à une transaction effectuée en ligne ; les litiges portant sur des questions complexes (fiscalité, droit de la famille par exemple) sont exclus. ECODIR n’est pas un processus d’arbitrage, mais de médiation : la possibilité d’ester en justice en cas d’échec du processus n’est pas exclue. Les auteurs décrivent les trois phases du processus, puis font le bilan de son fonctionnement. Ils analysent l’incidence des recommandations et des directives de la Commission européenne sur le commerce électronique avant d’examiner enfin la portée des solutions dégagées au terme de toute la procédure."

Le développement des modes alternatifs de règlement des litiges de consommation : quelques réflexions inspirées par l’expérience ECODIR

"ECODIR a vu le jour en octobre 2001, à Bruxelles, grâce à la contribution financière entre autres de l’Union européenne. C’est une plate-forme de règlement des litiges de consommation par Internet. Son champ d’action est limité, en raison des termes du contrat de recherche conclu avec la Commission européenne et de certaines contraintes juridiques. Il ne couvre que les conflits mettant en cause au moins un consommateur et relatifs à une transaction effectuée en ligne ; les litiges portant sur des questions complexes (fiscalité, droit de la famille par exemple) sont exclus. ECODIR n’est pas un processus d’arbitrage, mais de médiation : la possibilité d’ester en justice en cas d’échec du processus n’est pas exclue. Les auteurs décrivent les trois phases du processus, puis font le bilan de son fonctionnement. Ils analysent l’incidence des recommandations et des directives de la Commission européenne sur le commerce électronique avant d’examiner enfin la portée des solutions dégagées au terme de toute la procédure."

Modes et approches du cinéma documentaire : réflexion autour du projet American Utopias.

Ce mémoire de recherche-création prend comme point de départ le film documentaire American Utopias que j’ai réalisé en 2014-2015. Le film nous plonge au cœur du quotidien de cinq communautés alternatives et expérimentales des États-Unis et réfléchit aux multiples défis et enjeux que vivent leurs membres. Organisé autour du thème de l’utopie, ce récit de voyage documentaire nous fait connaître tour à tour une communauté de mini-maisons à Washington D.C., une communauté « Earthship » à Ithaca, une communauté vivant sans électricité et sans pétrole au Missouri, un laboratoire urbain dans le désert de l’Arizona et le festival Burning Man au Nevada. La portion théorique de ce mémoire s’organise quant à elle autour de la question des approches du cinéma documentaire. Prenant comme appui la typologie de Bill Nichols, il s’agit ici de voir comment chaque approche privilégiée par le créateur de documentaire renvoie au réel d’une manière qui lui est propre. Grâce à une approche autopoïétique et un travail d’analyse de films, ce mémoire cherche également à circonscrire les forces et les limites intrinsèques à chaque mode. Ce faisant, le lecteur est amené à mieux comprendre les motivations qui soutiennent certains choix de création dans American Utopias.