Emerging versus advanced country MNEs investing in Europe: A typology of subsidiary global–local connections

This paper empirically investigates how subsidiaries of multinationals from both emerging (EMNEs) and advanced (AMNEs) economies investing in Europe learn from the local context and contribute to it as much as they benefit from it. To explore this we classify the behavior of MNE subsidiaries into different typologies on the basis of how knowledge is transferred within the multinational and on the nature of the local innovative connections. The empirical analysis relies on an entirely new, subsidiary-level dataset in the industrial machinery sector in Italy and Germany. Results show that EMNEs and AMNEs undertake different strategies for tapping into local knowledge and for transferring it within the company. We identify a new typology of EMNE subsidiary that contributes through its significant local innovative efforts to development processes in the host country. This result suggests possible win-win situations from which novel policy implications may be drawn.     

全球中小企业税收优惠制度改革及借鉴

20世纪70年代开始,主要发达国家都对中小企业税收优惠制度进行了重大改革:从全面优惠到有选择的重点优惠;在坚持税收法定原则的基础上,灵活务实;引入税式支出,对税收优惠进行绩效考评;非常注重政策的配套与协调等。中国在中小企业税收优惠制度方面存在法定性不足、受惠主体过窄、力度小、优惠方式单一、导向性不明显、配套协调不够、缺少科学合理的评价等问题。因此,中国应借鉴全球中小企业税收优惠制度改革的经验,有针对性地进行改革。     

Linking globalization of entrepreneurship in small organizations

The field of entrepreneurship spans a wide variety of topic areas, and among the most important is that of the small and medium-sized enterprise (SME). The aim of this paper is to link entrepreneurship and SMEs. Attempting to generalize the outcomes of entrepreneurship in small organizations from different sectors, countries or industries should be activities that are part of daily life on an international scale. In extracting and transferring the outcomes of this research into entrepreneurship and SMEs, policy makers should see an aspect that must be consolidated within the environment of international globalization that surrounds us. It should not be forgotten that what starts out as small (i.e. an SME) can become large over time and this entrepreneurship can form a part of a new organizational structure. A brief overview of the contents of each of the articles included in this special issue on the globalization of entrepreneurship in small organizations is also presented herein.      

One strike and you're out: Qualitative insights into the formation of consumers' ethical company or brand perceptions

Drawing on 20 long interviews (McCracken, 1988) with general consumers, this research suggests that the impact of various kinds of un/ethical business practices of a given company on consumers' perceived ethicality (CPE) is asymmetrical. The resulting taxonomy identifies three distinct dimensions of varying directions and impacts on CPE, with the personal interest of the evaluating person moderating and mediating the dimensions' slopes: (1) Monovalent ethical dissatisfiers which have a negative effect; (2) Bivalent ethical dis/satisfiers that either favorably or unfavorably influence ethical perceptions, commensurate with a company's efforts; and (3) Monovalent ethical satisfiers, capable of generating a positive impact. The achievement of positive CPE appears highly challenging for a variety of reasons identified. Only one instance of perceived misconduct can be sufficient to contaminate a company/brand's CPE, despite otherwise exemplary behavioral records or altruistic engagement. The article concludes with a discussion of the implications for managers and academics.     

Corporate governance in the post Sarbanes-Oxley period: Compensation disclosure and analysis (CD&A)

In recent years, the entire fabric of corporate governance, certainly in the United States, has dramatically changed. With the passage of what has colloquially become known as SOX (the Sarbanes-Oxley Act of 2002), US-based corporations have operated under stricter governance guidelines than at any previous time, especially as regards the structure of boards of directors and financial oversight of the corporation. A now perennial governance “hot button” issue not addressed by SOX is concern over continually rising executive compensation. Until the 2006 adoption of new compensation disclosure guidelines by the Securities and Exchange Commission (SEC), it had been nearly 15 years since federal attention had been devoted to compensation guidelines or regulations. Beginning with 2007 filings, US corporations must now include a Compensation Disclosure and Analysis (CD&A) section. The intent behind the CD&A is to provide investors access to clear explanations of executive compensation and the philosophy that underlies compensation. As often happens, this good intent is accompanied by several unintended risks that may mitigate the effectiveness of the CD&A.     

后疫情背景下金融机构开展服务科技型中小（微）企业融资的探索与实践：以浙江为例

由于新冠肺炎疫情的持续影响,科技型中小（微）企业面临着资金周转和融资难的困境,财务脆弱性风险较为明显。这其中既有企业内部的原因,也有社会经济环境、市场状况和金融服务等外部环境因素。本文将对后疫情背景下金融机构服务和促进科技型中小（微）企业融资问题进行理论溯源,并以浙江为例,分析金融机构服务科技型中小（微）企业融资实践中面临的难题,并提出建立风险偿债基金、构建多层次信息平台、将人力资本作为授信额度担保的重要依据、聚焦创新创业生态体系建设等对策和建议,以期助力科技型中小（微）企业“转危为机”,推动投融资服务转型升级。     

不确定性定位与中小企业的成长战略

不确定性定位是企业面对不完全信息和不确定性的市场时,自觉地容忍和利用不确定性,通过适应性调整的方式,获得利益并且确立企业能力边界的定位。不确定性定位和波特的定位理论相比,在前提、过程、目标、条件等方面存在明显的差异。对于初始资源条件缺乏,同时能够容忍较高不确定性的中小企业,不确定性定位是其适宜的成长战略。     

融入全球采购零售商供应链的对策研究

全球采购在我国产品出口中的作用日益增强,通过全球采购进入国际市场的主渠道,对国内许多企业来说有着巨大的吸引力。但全球采购商对供应商的要求非常严格,我国企业要想真正融入其供应链,必须从战略高度认识全球采购,更新企业经营理念,熟悉零售营销惯例,加强信息化建设,推进物流的现代化,强化中介组织的作用。     

“一带一路”战略下的国际经济规则创新

\"一带一路\"战略是推动亚洲区域经贸合作的顶层设计,也是中国主导、诸多发展中国家合力拓展南南合作的重要环节。\"一带一路\"战略下的经贸法治化对现有国际经济规则带来创新,包括国际经济规则理念的更新与内容的拓展。\"一带一路\"战略的国际经济规则创新需要涉及贸易、金融、能源、投资、争端解决等领域国际法路径的完善。同时,\"一带一路\"战略的国际经济规则创新还需要国内法的先行先试来推进。就中国而言,上海自贸区作为国内经贸法治改革的试验田,为推进\"一带一路\"战略的国际经济规则创新,形成投资、贸易与金融管理法律规则具有重要作用。     

交通基础设施对“一带一路”沿线国家企业出口的影响——基于世界银行企业调查数据的实证研究

文章基于世界银行2004～2017年45个\"一带一路\"沿线国家的企业调查数据,利用双重差分模型分析了交通基础设施对企业出口的影响。结果发现:(1)基础设施对企业出口影响显著,基础设施越完善,企业从事出口经营可能性越大,出口比例也会越大。(2)交通基础设施合作可通过降低企业出口障碍、减少企业出口所需时间成本来改善当地出口,提高企业的出口可能性及出口比例。(3)相对于陆路运输,港口建设改善了沿线国家的交通类基础设施,并推动了当地企业的出口。此外,对于外资企业或外国投资占比较大的企业而言,交通基础设施改善对企业出口有更大的促进作用。