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.     

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.     

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.     

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。     

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。     

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。     

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.     

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.     

资本流入新兴市场国家:共同的难题、不同的风险

近年来,包括中国在内的亚洲和欧洲新兴市场国家和地区成为了国际资本流入的热点.资本流入带来好处的同时,也给这些国家带来了不同程度的经济风险.对比分析亚洲和欧洲新兴市场国家的资本流入情况表明,亚洲国家和欧洲国家经济特点上的差异使二者之间面临的风险有所不同,采取的对策和受到的制约也不尽相同.     

供给侧改革背景下新兴经济体发展现实比较及延伸思考

经济全球化促进了经济要素全球范围的广泛流动,也催生出了一些发展速度快、对全球影响较大的新兴经济体。研究发现:中国、巴西、俄罗斯、印度、南非这些新兴经济体的人均GDP在时间上发生了显著性变化,各个新兴经济体间的人均GDP也存在显著性差别。近十年间,中国经济增长基本保持了平稳状态,GDP的增长率波动不大,巴西、俄罗斯、印度以及南非经济增长波动均较大;中国与其他新兴经济体的货物与服务进出口、国外直接投资均没有显著的相关关系,彼此间影响也不明显。未来中国需要进一步优化产业结构,加强生态、制度环境建设,推动经济社会的全面进步;要加快新一轮高水平对外开放,拓展国际合作空间,建成开放型经济体;促进机会平等,走包容性经济增长之路,实现经济社会可持续发展。     

Export Barriers and Competitiveness of Developing Economies: The Case of the Ethiopian Leather Footwear Industry

Export competitiveness is an important success factor for developing economies. However, several barriers can prevent firms from exporting. This study empirically investigates export barriers in the Ethiopian leather footwear industry. We identify 10 conceptually linked barriers that are prevalent in the industry. Whereas some of the export barriers are in line with previous research, we find several new barriers such as logistics and export marketing. On the firm level, we identify different clusters of firms that are facing specific sub-sets of barriers. Depending on cluster membership, management must focus on certain export barriers for increasing competitiveness.     

Business Responses to Climate Change Regulation in Canada and Germany: Lessons for MNCs from Emerging Economies

This article proposes a novel mapping of the complex relationship between business ethics and regulation, by suggesting five distinct ways in which business ethics and regulation may intersect. The framework is applied to a comparative case study of business responses to climate change regulation in Canada and Germany, both signatories to the Kyoto Protocol. Both countries represent distinctly different approaches which yield significant lessons for emerging economies. We also analyze the specific role of large multinational corporations in this process.