Economic Freedom and Cross‐Border Acquisitions from Emerging Markets into Developed Economies

Extending the home base perspective by considering investors' parent countries, this study examines the effect of economic freedom (EF) on emerging‐market enterprises' (EMEs) overseas acquisition completion in developed countries. Using a large data set of 5,174 cross‐border acquisition deals from ten major emerging markets (EMs) during 1985–2011, we find that (1) the probability of deal completion is positively associated with the levels of EF of the acquirers' countries, the acquirers' parent and the target; (2) the EF of the countries of acquirers' parents has a substitutive effect on that of the acquirers' countries; (3) the difference of EF between the targets' countries and the countries of acquirers' parents negatively influences deal completion; and (4) the difference of EF between the targets' countries and the acquirers' countries negatively influences deal completion. These findings have important theoretical implications for international business scholars, as well as practical implications for managers and for policymakers of EMEs that are active in foreign direct investment. © 2016 Wiley Periodicals, Inc.     

SHOULD THERE BE FREEDOM OF DISSOCIATION?

Contemporary liberal societies are seeing increasing pressure on individuals to act against their consciences. Most of the pressure is directed at freedom of religion but it also affects ethical beliefs more generally, contrary to the recognition of freedom of religion and conscience as a basic human right. I propose that freedom of dissociation, as a corollary of freedom of association, could be a practical and ethically acceptable solution to the conscience problem. I examine freedom of association and explain how freedom of dissociation follows from it, showing how dissociation protects freedom of religion and conscience. Extreme cases, such as the problem of the Satanist nurse, can be handled within a dissociationist framework, so it is reasonable to think less extreme cases can also be dealt with. The serious objection that dissociationism entails unjust discrimination is answered primarily by appeal to the need for ‘full and fair access’ to goods and services by all groups. I then allay important concerns about what kind of liberal society we should want to live in. Next, I refute the charge that a dissociationist society violates liberalism's ‘higher good’, arguing that liberalism strictly does not have a higher good. I conclude with some reflections on what a dissociationist society might look like.     

Does income inequality sand or grease the wheels of entrepreneurial activity? International evidence

Using a large panel of countries, this research examines the influence of income inequality on entrepreneurship. The impact of income disparities on entrepreneurship is not clear a priori—with a positive effect when inequality encourages entrepreneurship (“greasing effect”) or a negative effect when entrepreneurship discourages entrepreneurship (“sanding effect”). Our findings, across alternative measures of income inequality and even allowing for simultaneity, are consistent with the motivation or greasing effect. An equally insightful finding is that the effect of inequality switches across the prevalence of entrepreneurship—the sanding effect exists in nations with a low prevalence of entrepreneurship, and switches to a greasing effect as the prevalence of entrepreneurship increases. This is suggestive of positive network externalities from entrepreneurship—it takes a threshold level of entrepreneurship in a nation for greasing from income inequality to take hold.     

新冠肺炎疫情防控下的国家治理

2020年突如其来的新冠肺炎疫情考验着中国国家治理能力,个人的生命安全成为核心关注点。疫情防控下的国家治理,需切实关注国家与个人之间的关系问题。个人和国家之间的合作或对抗,形构着个人与国家之间的信任机制。从国家和个人(社会)两个视角出发,以行政改革促进抗击疫情中"自下而上"的联防机制和"自上而下"的回应机制的建设,能够有效地在国家—个人之间建立起互信关系。现代国家唯有形成上下一体、有序统一的治理格局,才能有效应对疫情防控中的治理难题。     

Survival of Japanese subsidiaries in the Middle East and North Africa

This paper considers factors affecting survival of foreign subsidiaries in the context of Japanese foreign equity ventures in the Middle East and North Africa (MENA). Three new institutional variables, economic distance, economic freedom distance and subsidiary density, are examined as determinants of survival while controlling for other determinants previously established in the literature. The findings support our hypotheses. We found that economic distance and economic freedom distance exhibit significant positive and negative relationships respectively with the survival of Japanese FDI in the MENA region, and moderate positive relationship between subsidiary density and subsidiary survival.     

俄罗斯书刊检查概述

书刊检查制度的发展历史也是社会争取言论自由的历史。随着欧洲出版自由的快速发展,沙俄时期的书刊检查制度虽较欧洲其他一些发达国家明显落后,但最终还是逐步走向了缓和。十月革命的胜利虽然终止了封建专制制度,但却使书刊检查制度再次走向了新的极端。     

论后WTO的贸易保护

在入世过渡时期结束后,中国应该在WTO框架内实施贸易保护,从而达到贸易自由的目标.贸易自由理论和贸易保护理论并不是截然对立的,贸易自由理论中可以找到贸易保护的依据.贸易保护理论的终极目标是贸易自由.入世5年过渡时期的实践证明,中国既要积极应对其他国家的"合规性"贸易壁垒,也要在WTO框架内加紧构建自己的"合规性"贸易壁垒.     

Ending Financial Repression in China1

Abstract

China has the most restricted capital markets in Asia. Constraints on capital freedom have resulted in politicization of investment decisions, corruption, waste of capital, and loss of personal freedom. Ending financial repression in China by liberalizing macro-economic prices and making the Yuan fully convertible would help China become a world-class financial centre. To do so, however, would require widespread privatization and rule of law-both of which would undermine the power of the Chinese Communist Party. The West should be patient with China and recognize that gradual reform and engagement are preferable to destructive protectionism.     

论先秦的言论自由与舆论控制——以《管子》传播思想为中心

先秦时期就已经兴起了原始民主思想与言论自由思潮,稷下学宫就是一个自由论辩的场所,引发了百家争鸣的高潮。《管子》一书正是在这种原始民主思想、自由主义背景影响下逐渐形成的,是百家争鸣的投影。《管子》提倡言论传播的自由,要求君主要善于听取民众的意见,君臣之间、群臣之间也要做到言论传播的畅通。但是《管子》对舆论传播的控制是很严厉的,采用法制的手段实行禁止、诛罚等,客观上要求言论要＂名实相符＂,在某种程度上还反对著书立说。《管子》一方面提倡言论传播自由,另一方面又对舆论传播进行控制,这正是民主与法制这对矛盾范畴具有一定张力和弹性的体现。这对我们仍具有借鉴价值和现实意义。     

论先秦的言论自由与舆论控制——以《管子》传播思想为中心

先秦时期就已经兴起了原始民主思想与言论自由思潮,稷下学宫就是一个自由论辩的场所,引发了百家争鸣的高潮。《管子》一书正是在这种原始民主思想、自由主义背景影响下逐渐形成的,是百家争鸣的投影。《管子》提倡言论传播的自由,要求君主要善于听取民众的意见,君臣之间、群臣之间也要做到言论传播的畅通。但是《管子》对舆论传播的控制是很严厉的,采用法制的手段实行禁止、诛罚等,客观上要求言论要"名实相符",在某种程度上还反对著书立说。《管子》一方面提倡言论传播自由,另一方面又对舆论传播进行控制,这正是民主与法制这对矛盾范畴具有一定张力和弹性的体现。这对我们仍具有借鉴价值和现实意义。