The International Business Ethics Index: Asian Emerging Economies

The systematic measurement of consumers’ sentiments toward business ethical practices is expanded to two emerging economies in Asia (China and India). The Chinese were very optimistic about the future ethical behavior of businesses, while the Indians recorded the lowest BEI scores yet. Chinese consumers were very concerned with product issues, while Indians were concerned equally about low quality products and excessive prices. John Tsalikis is an Associate Professor of Marketing at Florida International University. His articles have appeared in the Journal of the Academy of Marketing Science, Journal of Business Ethics, and Psychology in Marketing. Bruce Seaton is an Associate Professor of Marketing at Florida International University. His research interests include the role of national stereotyping in consumer choice and the application of experimental methods to investigate models of business ethics. His articles have appeared in the Journal of Advertising, Journal of Business Research, and Journal of Global Marketing. Tiger Li is an Associate Professor of Marketing at Florida International University. His research interests are in the areas of international market entry strategies, product innovation, and organizational learning behavior. His articles have appeared in Journal of International Marketing, Journal of Marketing, Journal of Marketing Education, and International Business Review.     

The Signaling Effect of Corporate Social Responsibility in Emerging Economies

What signals do firms in emerging economies send to stakeholders when they adopt corporate social responsibility (CSR) practices? We argue that in emerging economies, firms that adopt CSR practices positively signal investors that their firms have superior capabilities for filling institutional voids. From an institution-based view, we hypothesize that the institutional environment moderates the signaling effect of CSR on a firm’s financial performance. Based on a sample of firms from ten Asian emerging economies, we find a positive relationship between CSR practices and financial performance. This positive relationship is stronger in the less developed capital market than in the more developed one. The financial benefits of CSR practices are also more salient in the low information diffusion market than in the high one. We emphasize that signaling theory and the institution-based view can jointly contribute to the CSR literature.     

Emerging Economies: Operational Issues in China and India

This article addresses the current state of the infrastructure and other factors within China and India to consider in making operation expansion decisions. We compare the logistics, telecommunication, and energy infrastructure of these two nations followed by a discussion of their labor productivity, economic growth, and political and cultural stability. We find that China is ahead of India in terms of transportation and telecommunications infrastructure, but India leads in terms of skilled labor for supporting information technology (IT) and complex manufacturing-based operations. While it will be difficult for India to catch up with China's manufacturing base, there is a strong opportunity for India to become the back office of the world. We then outline the opportunities and challenges that MNCs may face by investing in these countries and close with advice for managers in making expansion decisions.     

Drivers of Green Supply Chain in Emerging Economies

In spite of the burgeoning interest in green supply chain management in Western developed countries and large emerging economies, little research exists on the topic in small emerging and developing countries. In this study, we surveyed firms based in Dubai to identify the main drivers of green supply chain management and their impact on supply chain greening. We discuss theoretical and managerial implications of the findings. © 2013 Wiley Periodicals, Inc.     

新兴经济体跨国公司理论研究进展及演进趋势分析

跨国经营较成功的新兴经济体跨国公司具有对外直接投资区位范围广泛、不断向产业链高端延伸、在发达国家积极进行资产寻求型对外直接投资、政府在企业跨国经营中扮演重要角色等典型特征;其理论研究进展主要包括：基于制度视角的OLI范式拓展、基于资源观视角的LLL分析框架、基于企业成长视角的非平衡理论、整合多视角的Y模型等;理论研究的演进趋势主要表现为对现有理论的修正及整合、个案研究与系统研究的结合、经济学与管理学研究范式的融合、其它学科理论的借鉴等。     

Foreign Direct Investment in Ireland: Policy Implications for Emerging Economies

Ireland's success in attracting foreign direct investment (FDI) provides guidance for emerging economies. The key to Ireland's success is its consistency of policy towards FDI. Ireland's success suggests that emerging countries should be proactive in seeking FDI, offer a package of incentives that is enterprise‐centred yet is sufficiently selective to build self‐sustaining clusters. Policy consistency is important to inward investors and this can be traded off against selectivity and monitoring of performance.     

Marketing Challenges and Opportunities in Emerging Economies: A Brazilian Perspective

This article describes the challenges and opportunities of marketing in an emerging economy, focusing on Brazil as an exemplar. The main features of the Brazilian economy are discussed with special attention given to the changing nature of the country's income distribution. Where Brazil once had a pyramid‐shaped income distribution typical of many less developed countries, this is rapidly giving way to a diamond‐shaped income distribution due to the emergence of a growing middle class. This, in turn, presents marketers with many opportunities ranging from franchise development to e‐commerce. At the same time, however, marketers are challenged by several features of the Brazilian economy, including poor logistics, corruption, and state interventionism, among other threats. © 2016 Wiley Periodicals, Inc.     

The Trade Competitiveness of Southern Emerging Economies: A Multidimensional Approach Through Cluster Analysis

This paper investigates the trade competitiveness of the new emerging Southern economies – China, India, Brazil and South Africa (CIBS) – with respect to their main global partners. Starting from the commonly held view that countries with trade patterns similar to those of emerging countries are likely to suffer losses, we propose a multidimensional approach based on cluster analysis, both crisp and fuzzy, as an alternative strategy for assessing similarity in global trade patterns. On the basis of key trade characteristics drawn from the diverse strands of trade theory, we assess the relative position of CIBS within global trade patterns and their evolution over time. Unlike previous studies, our results do not support the hypothesis of the presence of a competitiveness threat from Southern emerging countries towards the main industrialised economies.     

Firm-Level Determinants of Political CSR in Emerging Economies: Evidence from India

Multinational companies (MNCs) frequently adopt corporate social responsibility (CSR) activities that are aimed at providing ‘public goods’ and influencing the government in policymaking. Such political CSR (PCSR) activities have been determined to increase MNCs’ socio-political legitimacy and to be useful in building relationships with the state and other key external stakeholders. Although research on MNCs’ PCSR within the context of emerging economies is gaining momentum, only a limited number of studies have examined the firm-level variables that affect the extent to which MNCs’ subsidiaries in emerging economies pursue PCSR. Using insights from resource dependence theory, institutional theory, and the social capital literature, we argue that MNCs’ subsidiaries that are critically dependent on local resources, have greater ties to managers of related businesses and to policymakers, and that those that are interdependent on the MNCs’ headquarters and other foreign subsidiaries, are more likely to be involved in PCSR. We obtain support for our hypotheses using a sample of 105 subsidiaries of foreign firms that operate in India. Our findings enhance our understanding of the factors that determine MNCs’ political CSR in emerging economies.     

全球经济政策不确定性对新兴经济体资本流动的影响

本文基于33个新兴经济体1997-2013年的季度数据,分析了全球经济政策不确定性对新兴经济体资本流动的影响.结果发现,全球经济政策不确定性对于新兴经济体资本流动的影响具有非线性特征.当全球经济政策不确定性较低时,经济增长和经济政策不确定性成为资本流动的主导因素;而当全球经济政策不确定性较高时,利差成为主要的影响因素.进一步的研究表明,危机后全球经济政策不确定性对资本流动的影响相对危机前有所减弱,而且全球经济政策不确定性主要影响证券投资和其他投资,对直接投资影响较小.本文的政策含义在于,各国政府应当维护宏观经济稳定性,增加政策透明度和可预见性,避免资本流动的大进大出给经济带来的不利冲击.     

The Stock Liquidity of Banks: A Comparison between Islamic and Conventional Banks in Emerging Economies

We explore the stock liquidity of Islamic banks (IBs) and matching conventional banks (CBs) in emerging economies. We find that IBs have higher stock liquidity than CBs, suggesting that investors prefer IBs' stocks and neglect what they consider to be “sin stocks” (i.e., CBs' stocks), which do not conform to their religious beliefs. We also find that the liquidity effects are particularly important for small IBs, and during the global financial crisis. This evidence is stronger in countries with less developed banking sectors and weaker bank supervision and regulation. Hence, faith-driven investors tend to value more norm-conforming stocks (i.e., IBs) during times of distress and uncertainty, and in weaker regulatory environments.     

新兴经济体对世界经济格局的影响及中国的定位

金融危机并没有从根本上改变20世纪90年代以来形成的＂一超多强＂的世界经济格局,但西方发达经济体纷纷进入衰退期,世界经济重心将持续向新兴经济体转移。新兴经济体在经济上与发达国家的差距逐步缩小,作为世界经济中一股强大的力量,正推动世界经济格局发生着极为广泛和深刻的变化。对中国在当前世界经济格局中的定位进行了科学的思考,提出了理智地处理好与大国间的相互关系、实现社会经济的包容性增长和坚定不移地推进全方位改革等建议。     

美国贸易政策不确定性与新兴经济体跨境股票资本流动北大核心CSSCI

本文使用1996年2月-2020年1月35个新兴经济体的跨境股票型基金微观数据,实证考察美国贸易政策不确定性对新兴经济体跨境股票资本流动的影响。结果表明:美国贸易政策不确定性上升会导致新兴经济体跨境股票型基金净资本流入下降,这一影响在2008年全球金融危机后更为显著。受国别因素影响,美国贸易政策不确定性的影响存在异质性。一国外汇风险暴露水平更高、国际金融一体化风险更大、与美国直接贸易联系更紧密,受到的美国贸易政策不确定性的影响更显著,更高的利率水平有利于缓解美国贸易政策不确定性的影响。从全球价值链视角来看,美国贸易政策不确定性上升对处于研发密集型行业下游和邮政通讯、金融商业服务等行业下游的经济体影响显著。渠道分析表明,全球投资者对新兴经济体的国别风险情绪变化是美国贸易政策不确定性冲击的重要传导渠道。进一步研究表明,中美贸易摩擦期间,主要受美国贸易政策不确定性影响,加征关税会显著降低新兴经济体跨境股票型基金净资本流入。在金融开放进程中,新兴经济体应防范外部不确定性引发的资本流动剧烈波动风险,保持宏观经济与金融市场稳定。     

Immigrant Entrepreneurship in an Emerging Economy: The Case of Turkey

This paper examines motivations for, and paths to, entrepreneurship among immigrants in Turkey based on interviews with 22 immigrant entrepreneurs in Istanbul. Findings suggest that immigrant entrepreneurs in a developing economy may be different from their counterparts in well‐established economies. First, immigrant entrepreneurs rely on their unique human and social capital in the process of starting businesses thanks to their ability to identify opportunities based on insider knowledge of the market in their home and host countries. Second, their ability to foster trusting relationships thanks to language, cultural, and religious knowledge permits immigrant entrepreneurs in an emerging economy to engage in less economically marginal activities.     

新兴造船经济体的救市新举措

政府和市场永远是一对矛盾统一体。当市场不顾及政府的理性指引而经历非理性指数增长后作出“自由落体”运动时，政府纷纷拿出各种应对举措来改变市场运行的轨迹。为了应对这次百年不遇的全球金融危机，那些视造船业为国家支柱产业的新兴造船经济体纷纷主动出击，颁布或准备制订扶持船舶工业发展的政策举措。政府这只“有形之手”将在造船业发展低迷时期承担起更大的责任．发挥着更好的作用。     

Applying the Theory of Small Economies and Competition Policy: The Case of Switzerland

The question whether optimal competition policy depends on the size of an economy has recently received considerable attention. In particular it has been argued that markets in small economies are often highly concentrated and protected by substantial entry barriers. Market forces may therefore not be strong enough to correct inefficient economic behaviour, i.e. inefficiencies may endure in small economies. This paper applies the theory of small economies and competition policy to the case of Switzerland. It finds that Switzerland cannot be rated as the prototype of a small economy as pertaining to competition policy. It further assesses whether the Swiss Cartel Act accounts for the potential efficiency problems of small economies and reveals that there is scope for a more efficiency enhancing legal competition framework within Switzerland.     

美国经济政策不确定性溢出效应研究:来自新兴经济体银团贷款的证据

近年来,中国面临外部风险冲击因素明显增多,其中以美国经济政策不确定性溢出效应影响最为突出。为系统评估美国经济政策不确定性对微观市场主体融资的影响,利用1989年1月至2019年7月美国经济政策不确定性数据以及38个新兴经济体企业银团贷款数据,实证分析了美国经济政策不确定性的溢出效应。研究发现:美国经济政策不确定性对新兴经济体企业融资存在溢出效应,即随着美国经济政策不确定性、货币政策不确定性和贸易政策不确定性的增加,新兴经济体企业银团贷款利率会显著提高。进一步研究发现,美国经济政策不确定性溢出渠道包括美元贷款和美国银行贷款等,美国经济政策不确定性和货币政策不确定性会通过美元和美国银行贷款路径显著提高新兴经济体企业银团贷款利率,而贸易政策不确定性仅通过美元贷款渠道对新兴经济体企业银团贷款利率产生溢出效应。     

新兴经济体能拯救全球经济危机吗——基于进口贸易视角的评估

文章通过考察新兴经济体各类商品在世界的进口地位、进口来源以及各经济体进口结构的变化,探究新兴经济体能否在日后担当起维护世界市场、促进全球贸易格局平衡的重任。从1990年到2007年,新兴经济体进口占世界总进口的份额持续攀升,已经成为世界贸易体系中不可忽视的产品销售市场,这些经济体的进口在很大程度上是由发展制造业并进行出口驱动的。新兴经济体进口最终产品占世界总进口的份额发生了较大幅度的上升,然而该份额仍然较小,新兴经济体的最终产品市场,特别是消费品市场仍有待开发。因此,在突如其来的经济危机降临之际,这些经济体在短期内尚无法担当起拯救危机的重任,但发达国家通过种种努力可以在未来进一步开拓新兴经济体市场。     

Development of Corporate Governance Regulations: The Case of an Emerging Economy

This paper investigates the development of corporate governance regulations in emerging economies, using the case of Bangladesh. In particular, the paper considers three issues: What type of corporate governance model may be suitable for an emerging economy such as Bangladesh? What type of model has Bangladesh adopted in reality? and What has prompted such adoption? By analysing the corporate environment and corporate governance regulations, the paper finds that, like many other developing nations, Bangladesh has also adopted the Anglo-American shareholder model of corporate governance. Analysis of behaviours of principal actors in the Bangladeshi corporate governance scenario, using new institutionalism as a theoretical foundation, then reveals that such adoption may be prompted by exposure to legitimacy threats rather than efficiency reasons.