Business ethics — A developmental perspective: The evolution of the free and mature corporation

Ethics in Business organizations is a multidimensional process involving decision-making, leadership and institution building. The relatively simpler ethics of day-to-day decisions has to be reflected upon in the context of corporate desire for continuity, embedded in the values of a progressive society. At the operating level, the multivalence of decision situations is emphasized in place of the simple good — bad or cost — benefit dichotomies. A decision tree framework is presented to reflect the richness of the decisions. At the corporate level, the concept of responsive strategy as a synthesis of vision, power, and responsibility is proposed. In this, the crucial role of leaders cannot be over-emphasized. Finally, at the societal level, the evolution of capitalism and its corporate forms is seen as a milestone in people's search for enlightened ways to achieve refined ends. As more businesses assert their rightful roles in society, progressive institutional forms more in tune with the values of the twenty-first century should emerge.L. L. Jayaraman is Associate Professor of Management at Montclair State College, New Jersey, U.S.A. He holds a Ph.D. and a Post-graduate Diploma in Management. His research interests include Corporate Strategy and Business Ethics. Recent publications includeHow to Compete in the Global Economy: A Fresh Look at Business Strategy, in the January 1993 issue of theAmerican Business Review. During the Summer of 1992, he was a visiting professor at the School of Management, Comenius University, Bratislava, Slovak Federal Republic.Byung K. Min is Associate Professor of Management and Chairman of the Department of Management at Montclair State College, New Jersey, U.S.A. He holds a Ph.D. His research interests cover Corporate Strategy, Business Ethics, Organizational Behavior and Management Information Systems. His article has appeaed in theJournal of Applied Psychology.     

When Do Local Firms Benefit from Inward Foreign Direct Investment? A Longitudinal Study of China's Manufacturing Sector Covering 1998–2007

Using comprehensive panel data on manufacturing firms in China during the 1998–2007 period, this study examines whether and when recipient local firms benefit from foreign direct investment (FDI). Local firms’ productivity improvements by the presence of foreign entrants are estimated, and according to the results, the relationship between FDI and local firms’ productivity shows an inverted U‐shaped pattern, with productivity increasing up to a certain point beyond which a higher level of FDI reduces local firms’ productivity. More importantly, the U‐shaped pattern is found for FDI from both non‐HMT foreign firms and overseas Chinese HMT (Hong Kong, Macao, and Taiwan) firms. In addition, the U‐shaped pattern varies across subnational regions such that the threshold at which an increase in FDI reduces productivity is lower for indigenous firms in coastal regions. This suggests that in China, local firms in inland and rural regions are the top beneficiaries of spillover effects. © 2015 Wiley Periodicals, Inc.     

What changes the rules of the game in wholly owned subsidiaries? Determinants of knowledge acquisition from parent firms

We examine key factors affecting the extent of knowledge acquisition from multinational enterprises (MNEs) in their wholly owned subsidiaries (WOSs). As the volume of foreign direct investment (FDI) by MNEs is rapidly growing, empirical studies dealing with knowledge acquisition from parent firms in subsidiaries are in the limelight. However, as far as we know, none has attempted to identify primary mechanisms influencing subsidiary learning by dividing WOSs based on ‘investment mode’ and ‘investment direction’. We believe WOSs are characterized by these two issues and thus this research contributes to current literature by providing a detailed picture of learning mechanisms in subsidiaries. We advance a series of propositions to achieve the research objective by using a sample of WOSs established by MNEs in Korea. By doing this, we reveal that subsidiary learning depends significantly on absorptive capacity in learning organizations, relational capital and parent firms’ behavior. Also, we confirm that factors facilitating knowledge acquisition are influenced by investment mode and investment direction. Based on the results, this study provides some useful implications for MNEs and policy makers in local markets.     

Environment and technology strategy of firms in government R&D programmes in Korea

This paper examines firms' strategic behaviour under different types of environment to analyze firms' technology strategy in government R&D programmes. It identifies four dimensions of technology strategy and four types of environment associated with technological change and market competition. A set of hypotheses that represent how firms' technology strategy varies according to the different types of environment is developed. For the empirical test, 643 national R&D projects are selected and surveyed by the structured questionnaire. Data are collected from 219 respondents. The empirical results show that firms make their technology strategy differently according to changes in the environment. Finally, this study discusses its implication and the area of future research.     

Radiological findings of human fascioliasis

Fasciola hepatica is a trematode of herbivorous mammals. Humans are accidentally infected by the ingestion of water or raw aquatic vegetables contaminated with the metacercaria. Radiological findings of six patients with fascioliasis (five hepatic fascioliasis, one biliary fascioliasis) were analyzed. The diagnosis was based on serologic testing and/or histopathologic findings of eosinophilic abscess in five patients and identification of the adult worm in one patient. The characteristic radiological features of hepatic fascioliasis were (1) cluster of microabscesses arranged in tract-like fashion (burrow tract), (2) subcapsular location of the hepatic lesions, and (3) very slow evolution of the lesion on follow-up examinations. In biliary fascioliasis, there were multiple conglomerated filling defects in the common bile duct. The authors believe that the demonstration of these features, together with peripheral eosinophilia or eosinophilic aspirate from the hepatic lesion, is very helpful in making the correct diagnosis.