Environmental regulations and the export performance of South Korean manufacturing industries: A dynamic panel approach

This paper investigates the relationships among environmental regulation, export performance, and factor intensity, using panel data from South Korea's manufacturing sector (1991–2009). A panel vector autoregression (VAR) model in first differences tests the relationships among the variables, while considering the results of heterogeneous panel unit root and cointegration tests. Generalized Method of Moments (GMM) estimations help determine dynamic series relationships, and panel-causality tests are run based on the results of GMM estimations. There is evidence of a positive short-run linear causal relation running from environmental regulation to export performance, suggesting that environmental-protection expenditure may constitute a comparative advantage. The short-run linear causal relation from export performance to investment in activities related to environmental protection is insignificant.     

The impacts of trade liberalization on informal labor markets: A theoretical and empirical evaluation of the Brazilian case

Following trade liberalization, several developing countries experienced a sharp increase in the share of informal manufacturing employment. In this paper, I examine the impacts of trade liberalization on the labor markets of a small open economy, in an environment in which tariffs affect firms' payroll tax compliance decisions. I demonstrate that a reduction in domestic import tariffs reduces the average formal wage and show that the direction of the effect on the share of informal employment depends on the initial labor market conditions. A cut in trading partner import tariffs decreases the share of domestic informal employment and increases the average formal wage. I confirm the model's principal findings empirically, using data from the 1989–2001 Brazilian trade liberalization episode. I find the results robust to endogeneity and self-selection concerns, which are addressed, respectively, using instrumental variable and switching regression approaches.     

Outward foreign investment and export structure: a case study of Taiwan's FDI in Malaysia

As Taiwan's outward FDI was primarily motivated by the relatively lower costs of land and labour in the host countries, one tends to expect that the structure of production and exports in Taiwan would shift toward higher capital and skill intensity. The structure of Taiwan's exports to the ASEAN-4 was concentrated more in higher human and physical capital intensities than Taiwan's total exports to the world. Moreover, Taiwan's exports to the ASEAN-4 were more concentrated on intermediate goods and machinery. A case study of Taiwan's outward FDI in Malaysia indicated that three of the five leading industries that accounted for a large shares of changes on FDI stocks and corresponding export commodities were the same. Pooling estimates also show that FDI has a small but positive impact on Taiwan's exports to the host country. The study further showed that Taiwan's FDI in Malaysia includes mixed tactics of ‘defensive’ and ‘aggressive’ strategies in various industries. In terms of the influence of the presence and economic role of ethnic Chinese on Taiwan's outward FDI, the study showed that the ‘Chinese connection’ has not been a significant factor in determining the industrial distribution of Taiwan's FDI in Malaysia.     

Mergers and acquisitions & trade: A global value chain analysis

The present paper deals with how the insertion in international trade and global value chains (GVCs) of countries affects their capacity of attracting foreign mergers and acquisitions (M&As). To this end, we combine data for bilateral M&As and trade in value added for the period 2001–15 and estimate an augmented gravity equation. Results indicate that trade openness per se does not favour M&As. Nevertheless, bilateral free trade agreements, heterogeneity of destinations (sources) for exports (imports) of intermediate and final goods, and position and participation in global value chains are relevant for explaining bilateral M&As. Moreover, their role is significantly different depending on the level of development of the home and host countries.     

The tourism SMEs in the global value chains: the case of Andalusia

This paper examines the implications of the globalization of value chains for the role of small and medium-sized enterprises (SMEs) in the tourism industry. To begin with, the configuration of the global tourism value chain is analysed. Next, the participation of Andalusian SMEs in the global tourism value chains is investigated. A number of case studies have been developed in two relevant sectors, hotels and travel agencies, giving priority to the main tourist typologies existing in Andalusia: sun and sand, business and congress, cultural and rural. As a result, a SWOT analysis has been produced. Finally, from the key findings some policy recommendations supporting the role of tourism SMEs in global value chain are made.

Differentiation strategies in emerging markets: The case of Latin American agribusinesses

This study furthers the research agenda on Porter's generic strategies by exploring their implementation by firms that suffer from under representation in the literature. It focuses on agribusinesses based in emerging markets that specialize in high value added products. Relying on information collected through interviews, and a survey with 66 agribusinesses based in eight countries of Latin America, it examines the factors that distinguish firms implementing a differentiation strategy (DS). The findings provide interesting insights for scholars and practitioners alike, illustrating the strategic initiatives that DS firms use to ensure they command higher than average prices.     

Applicability of global value chains analysis to tourism: issues of governance and upgrading

Tourism firms are increasingly integrated in value chains that often operate across many different countries. As a result, the concepts and the methodology of the global value chains begin to be applied to the tourism industry. This paper aims to explore the applicability of this methodological approach for a specific service industry, such as tourism. It pays particular attention to the impact of different patterns of governance within global tourism value chains on the possible forms of upgrading. First, a set of regional case studies carried out on this subject leads us to identify the main patterns of governance in the Andalusian tourism industry. Secondly, an empirical analysis allows us to consider in which way upgrading can vary according to the governance patterns.     

The bargaining power,value capture,and export performance of Vietnamese manufacturers in global value chains

This study examines the payoff of various initiatives taken by Vietnamese manufacturers to increase their bargaining power relative to global buyers and capture a larger share of the value generated in global value chains. The study focuses on functional upgrade initiatives (i.e., product development, after-sales services, distribution, and promotion) and negotiation process initiatives (i.e., market intelligence and improvement of negotiation skills). A structural equation modelling method is used to analyse the data collected in 2017 from 354 Vietnamese manufacturers inserted in global value chains. The study finds that all initiatives, except after-sales services, significantly strengthen the manufacturers' bargaining power, which, in turn, enhances their export performance.     

Advanced technologies and international business: A multidisciplinary analysis of the literature

Advanced digital technologies, such as the Internet of Things, blockchain, big data analytics and augmented reality, are gradually transforming the way multinational firms do business. Due to the extent of this transformation many scholars argue that the integration of these technologies marks the commencement of the fourth industrial revolution (Industry 4.0). However, the question how these advanced technologies impact international business activities needs further attention. To this end, we adopt a multidisciplinary approach to review the related literature in international business (IB), general management, information systems, and operations research. We include the two latter fields, because advanced technologies have received more attention in these bodies of literature. Based on our analysis, we discuss the implications of these technologies for international business. Further, we highlight the drivers of technology utilisation by multinational firms and likely outcomes. We also provide future research avenues.     

On the internationalization of Turkish hospital chains: A dynamic capabilities perspective

How do professional service firms build the capabilities required for effective international operations? Although the internationalization of manufacturing firms is a widely studied topic, the literature on the internationalization of service firms remains scant. The problem is even more acute when it comes to studies of professional services such as healthcare organizations and hospitals. Yet, we encounter remarkable examples of international market expansion by professional service firms. In this paper, we report on a study of large privately-owned hospital operators from the emerging economy of Turkey, based on in-depth interviews with senior executives. Taking advantage of Turkey’s strategic location in the region, these firms have shown extraordinary entrepreneurial initiative expanding their operations beyond the home market over the past two decades. Even more impressive is the creative strategies these firms have been deploying in terms of market entry modes. These range from medical tourism to setting up diagnostic clinics abroad, operating full-service hospitals in key markets, management contracts, and attracting equity capital from international investment firms. We draw from the theory of dynamic capabilities in order to explain the success these firms have had in cultivating international market opportunities. We contend that it takes a variety of organizational capabilities for traditionally domestic-market focused firms to expand into international markets. We provide an integrative discussion and offer implications for advancing knowledge and managerial practice.     

Industrial policy in the era of global value chains: Towards a developmentalist framework drawing on the industrialisation experiences of South Korea and Taiwan

In this paper, I present a framework for GVC-oriented industrial policy that merges the so-called GVC perspective and the so-called developmentalist perspective—the latter of which is a perspective that industrial policy is most often analysed through, but has been somewhat neglected by the GVC perspective. I argue that the GVC perspective too quickly dismisses the relevance of industrial policy in the East Asian development experience, particularly those in South Korea and Taiwan between roughly 1960 and 1990. By drawing on the industrialisation experiences of these two countries, my framework for industrial policy suggests that the GVC perspective's ideas for industrial policy would be strengthened by more clearly acknowledging the continued importance of three observations by the developmentalist perspective: (a) the need for governments in developing countries to bargain with foreign investors for the purpose of domestic industrialisation; (b) policy design should not only focus on increasing exports, but also focus on replacing some imports with domestic production; and (c) linking up to the value chains of transnational corporations based in high-income countries can bring about some benefits, but ultimately, successful industrialisation necessitates a degree of competing with transnational corporations. State-owned enterprises have historically played an important role in this respect.     

A framework for comparing socially responsible investment markets: an analysis of the Dutch and Belgian retail markets

The increasing popularity of socially responsible investment among individual investors throughout Europe reveals the need for a framework that allows the comparison of socially responsible retail markets in different European countries. This article proposes such a framework, containing 16 different characteristics of socially responsible retail markets describing the size, institutionalization and nature of this market and correcting for differences in the size of countries and financial markets. When this framework was applied to the Dutch and Belgian socially responsible retail markets, differences were found with respect to the nature of both markets (specifically the use of non‐financial criteria, the asset allocation, the number of solidarity funds and investors' preferences for socially responsible savings products). Similarities were found with respect to the (absolute and relative) size and the degree of institutionalization of the socially responsible retail markets.     

贸易转营销:出口交易模式的转型

中国制造业的出口转型,既是出口价值链的转型,也是出口交易模式的转型。在资本国际化和生产国际化已占主导地位的条件下,在许多制造业国际市场越来越趋于垄断竞争和寡占竞争的条件下,制造业的出口,需要转向适应资本国际化和体现产业资本垄断优势的营销交易模式,原有的适应商品国际化、体现自由竞争和比较优势的贸易交易模式已经不再适应。     

A comparative study of farmers' markets visitors' needs and wants: the case of Alabama

Many studies refer to the importance of farmers' markets for both food producers and for visitors. For producers, the ability to obtain higher returns and/or market part of their produce as value‐added products can be strong incentives, while for consumers benefits include having access to fresher, often tastier foods or simply visiting as a social activity. Relatively few studies, however, explore visitors' needs and wants with regards to their farmers' market experience, that is, from visitors' perspective. The present study explores this dimension, comparing visitors' views in two different farmers' markets, one recently developed (since 2009) in a rural area vs. one already established (since 2004) in a university town (urban area). A total of 356 farmers' market visitors participated in the study. Respondents' comments from the two different farmers' markets are very much in agreement in the context of their needs and wants. Primarily, visitors want more product variety, an extended season, that is, not only limited to the summer season, and more vendors. The fact that more than half of the respondents regularly visit farmers' markets demonstrates their need and interest in locally produced foods. Given such strong interest, the potential for beneficial producer–consumer interactions in the sites studied appears to be enormous. Furthermore, farmers and other food producers have an ideal opportunity to increase the interest of consumers, ‘convert’ them to their foods and realise important benefits in the process. The overall findings also suggest opportunities for the establishment of other farmers' markets in a state (Alabama) with a long agricultural tradition.     

上海东源公司就蜂蜜反倾销复审中价格计算问题告美国商务部案评析

美国对华蜂蜜反倾销已历时14年多。上海东源公司等不服美国商务部在第二次行政复审中对替代国价格的认定,在美国国际贸易法院提起诉讼。本文在介绍基本案情的基础上,对美国国际贸易法院的判决做了归纳,并对本案涉及的主要法律问题进行了评论。     

The purchase of moral positions: an essay on the markets of concerned parenting

The markets directed towards the very youngest are rapidly expanding. This article looks into the mechanisms behind the expansion of this type of parental consumption, assigning children a position similar to what Veblen categorized as vicarious consumption. The assumption put forward is that the modern markets for babies and toddlers rooted not only in the need to stimulate, protect and support the child, or the desire to display cultural and economic capital through vicarious consumption, but also in the need to indicate positions in the moral economy of concerned parenting. The expanding markets of considered consumption are partly based on translation values, empathy and care made into tangible products with symbolic values in the moral economy.     

Exchange rate effects: A case study of the export performance of the Swiss agriculture and food sector

The Swiss franc appreciated strongly against the currencies of Switzerland's most important trading partners after the global financial crisis in 2008. This has raised the question of how sensitive Swiss exports are with respect to exchange rate movements. We analyse this question for exports of the Swiss agriculture and food sector, using both time series and dynamic panel data models based on data from 1999 to 2012. We find that in the long run a one per cent appreciation of the Swiss franc leads on average to a decrease in exports of agricultural and food products between 0.8 and 0.9 per cent. Our results suggest that on average, producers in the Swiss agriculture and food sector are able to successfully avoid price competition by differentiating their products, producing high‐quality products for niche markets.     

全球价值链、贸易增长“失速”与中国对策

通过对比G20经济体的货物出口增速与其GDP增速之间的差距,本文发现2012年后世界主要经济体货物出口增速大多低于其GDP增速,此轮出口增长"失速"并非是中国特例,而是全球性现象。本文从全球价值链分工的视角分析了造成此轮全球性出口增长"失速"的主要原因,发现近年来全球价值链分工模式出现的"天花板"现象、发展中经济体价值链分工位置升级和国内价值链的延伸以及发达经济体国内价值链的收缩都会导致世界贸易规模萎缩。本文认为,以"一带一路"战略为平台扩张全球价值链分工网络的外部空间和以自贸区战略为依托推进中国对外开放水平由"边境上"向"边境内"深化,是中国应对出口增速下降可能的对策思路。     

Global value chains and the lost competitiveness of the Japanese watch industry: an applied business history of Seiko since 1990

An applied business history approach offers particular insights into the lost competitiveness of the Japanese watch company Seiko and its causes. Although Seiko was the world's largest firm in the watch industry in the mid-1980s, the company experienced a huge decrease in sales during the next decade and became unable to compete effectively against Swiss watch companies that had repositioned themselves in luxury business. The focus on the evolution of global value chains (GVC) in the industry, which saw a shift from producer-driven GVC to buyer-driven GVC, highlights a major change in the 1990s. Seiko did not change its strategy despite this paradigm shift and has continued to run its foreign subsidiaries according to the producer-driven model.