Reverse Knowledge Transfer on Emerging Market Multinationals: A Case Study of the Largest Private Bank in Latin America

Knowledge transfer between headquarters and subsidiaries and the study of emerging market multinationals (EMMNE) are two important and rapidly growing research topics in International Business (IB) studies. This research analyzes, through an in-depth single case study, the Reverse Knowledge Transfer (RKT) processes of an emerging market multinational, more specifically the largest private bank in LATAM—Banco Itaú Unibanco S.A.—to understand how emerging market parent companies benefit from their subsidiaries’ knowledge. Our findings validate important concepts in the IB and RKT literature, contribute with valuable insights to theory generation, and indicate possible avenues for future research.     

Conditional Cash Transfer and School Outcomes: An Evaluation of the Pantawid Pamilyang Pilipino Program in Davao Oriental,Philippines

The present study adds to the empirical literature examining the effects of conditional cash transfers on school outcomes. Using school‐level and student‐level enrolment data from Davao Oriental Philippines, we evaluate the influence of the Pantawid Pamilyang Pilipino Program (also known as 4Ps), a social development policy program, on the growth rates in school enrolment outcomes. The findings show that 4Ps, on average, increased school enrolment of children by 1.12 percent. It was also apparent that using student‐level data as opposed to school‐level data revealed a more robust effect of 4Ps on school outcomes. We also found some school and socioeconomic characteristics influencing the change in school enrolments. Finally, this study highlights the role of government intervention programs in improving access to education in the poorest sector of the economy.     

A panel data approach to economic forecasting: The bias-corrected average forecast

In this paper, we propose a novel approach to econometric forecasting of stationary and ergodic time series within a panel-data framework. Our key element is to employ the (feasible) bias-corrected average forecast. Using panel-data sequential asymptotics we show that it is potentially superior to other techniques in several contexts. In particular, it is asymptotically equivalent to the conditional expectation, i.e., has an optimal limiting mean-squared error. We also develop a zero-mean test for the average bias and discuss the forecast-combination puzzle in small and large samples. Monte-Carlo simulations are conducted to evaluate the performance of the feasible bias-corrected average forecast in finite samples. An empirical exercise, based upon data from a well known survey is also presented. Overall, these results show promise for the feasible bias-corrected average forecast.     

De-hubbing of airports and their recovery patterns

The paper analyzes cases of de-hubbing in air transport between 1997 and 2009. It initially addresses the conditions to be met for airports to be identified as de-hubbing cases. Second, it examines what happens after de-hubbing by clustering the cases into homogenous groups that show that, on average, airports that experienced de-hubbing did not recover their original traffic within five years and that de-hubbing is likely to be irreversible. When hub carriers were replaced at least partially by low-cost carriers, airports on average recovered faster. De-hubbing adversely affects the number of destinations served less severely than the seats offered by carriers.     

The international strategy of state-owned firms: An organizational process and politics perspective

This paper focuses on European government-controlled enterprises (GCEs) which are normal commercial undertakings (e.g. Renault, ENI, British Leyland, Salzgitter) as opposed to public monopolies (e.g. electric or telephone companies). It asks why such companies do or do not go international and what is distinctive about their international strategy and why.     

Management and performance of Non-Profit Institutions: finding new development trajectories—evidence from Italy

This work tries to deal with Non-Profit Institutions (NPIs) recent challenges, addressing a potential response to the need of managerial approaches and schemes to improve the comprehension of the phenomenon. In particular, the main aim is to identify the prevailing trajectories on which to build a potential theoretical “virtuous” management model. In this perspective, using a statistical analysis on a small case study, the research proceeds to test the coherence of theoretical insights with a possible multifaceted pattern for NPIs in which professionalization, civic-engagement and accountability represent the three fundamental dimensions of what could be defined as “The Cuboid of NPIs Management”.

     

An interpretive approach to explain SMEs performance through an entrepreneurial perspective

The paper aims to give a contribution to explaining the performance of SMEs through an interpretation based on an entrepreneurial perspective. To this purpose, a qualitative interpretation of the results of an empirical exploration that analyzes some subjective characteristics of a homogeneous sample of entrepreneurs is provided. Specifically, three different profiles of entrepreneurs were identified. Analyzing the characters of each profile and comparing them with the typical features of the firms considered, it emerges that the system of policy measures to promote a more effective entrepreneurship could be improved by offering new differentiated entrepreneurship policies according to the different profiles.     

A GLOBAL SUPPLY CHAIN PROFIT MAXIMIZATION AND TRANSFER PRICING MODEL

In environments where tax rates in local regions do not represent major decision factors, a cost minimization methodology, which represents the most common optimization modeling approach for integrated manufacturing and distribution planning, can help formulate an effective integrated plan. However, when planning flexibility or alternatives exist because of differing local country tax rates and types and intra‐company transfer pricing options, cost minimization methodologies may inaccurately identify profit‐maximizing global production and distribution plans. Instead, a profit maximization model that explicitly evaluates decisions such as where to incur tax liabilities and how to set intra‐company prices may be required to develop an integrated global manufacturing and distribution plan. In this paper, we discuss and formulate a model that yields profit maximizing global production and distribution plans. We discuss the managerial implications of our results, and the potential applications and benefits of the model.     

Do entrepreneurs from institutionally distinct countries apply different decision logic when internationalizing their companies? A multiple-case analysis

Literature on entrepreneurs’ decision logic has either focused on effectuation or causation, lacking comparison and analysis of logics when founders come from different institutional environments. This paper presents an exploratory study examining the behaviors, beliefs, and decisions of entrepreneurs (all typical drivers for new market entries), considering those institutional differences. Research was based on the comparison of two case studies of young software companies, one from Brazil and one from Germany, each founded by two entrepreneurs with similar academic and professional backgrounds. Results indicate that apparently, business environment affects founders’ decision logics with much more strength than the institutional environment.     

Private Equity Fair Value Measurement: A Critical Perspective on IFRS 13

In this paper, we discuss IFRS 13 Fair Value Measurement with regard to private equity valuation. We raise issues on the fair value definition as an exit price and question the reliability of valuation techniques, which are categorised into Level 2 fair value hierarchy. Our paper questions whether fair value as defined by IFRS 13 is an appropriate measure for private equities and can contribute to enhancing transparency and comparability in financial statements, which is one of the purposes of the International Accounting Standards Board and the European Union Regulation 1606/2002.