This study develops a taxonomy of international service firms from an emerging market, Brazil, and assesses whether there are significant differences in international performance between the groups. After an extensive literature review, a survey was carried out with a sample of international service firms located in an emerging economy, Brazil. Using as a departure point two theoretical perspectives, the internationalization process theory and industrial organization theory, in addition to service dimensions extracted from the empirical service management literature, the study identifies four groups—large traditionals, generalist neophytes, solitary traditionals, and daring differentiators—based on firm characteristics, international services delivered, internationalization process characteristics, and international strategies adopted. The findings suggest that there are significant differences in performance between the groups. 相似文献
This paper explores the relationships between proactive environmental strategy (PES) and internationalization in emerging markets multinationals from Latin America (Multilatinas). Drawing on the resource‐based view and institutional theory and using a sample of 86 listed firms during the period 2013–2017, we find that Multilatinas with higher tiers of PES are associated with higher degrees of geographic international diversification. Because adopting PES is directly conditioned by institutional pressures to comply with stakeholders' regulations and expectations, Multilatinas that implement advanced PES will be able to achieve a higher level of international presence in foreign markets. Our results also reveal that board independence positively moderates the relationship between PES and geographic international diversification. Specifically, board independence provides Multilatinas with the opportunity to integrate valuable knowledge and expertise and thus to take advantage of implementing advanced PES to achieve even greater levels of internationalization. This study expands understanding of how environmental strategies influence internationalization of firms in the Latin American business context. 相似文献
This paper uses differences-in-differences to analyze the effectiveness of messages sent by the Spanish Tax Agency to deter tax evasion by owners of vacation rentals. The results suggest that these messages were effective in the aggregate, as there was an increase both in the declared amount of such income (6–8.5%, depending on the line item under which it is declared) and in the number of filers (29.7–64.2%), and this effectiveness became more marked over time. Notably, there was more response to the intervention from the self-employed. However, in some collectives, the intervention produced the opposite of the intended effect. 相似文献
We explore the association between urban density and pupil attainment using three cohorts of pupils in schooling in England. Although—as widely recognised—attainment in dense urban places is low on average, this is not because urban environments disadvantage pupils, but because the most disadvantaged pupils with low average attainments attend the most urbanised schools. To control for this, we exploit changes in urban density faced by pupils during compulsory transition from Primary to Secondary school, and measure educational progress at the end of the Secondary phase, relative to attainment at the end of Primary schooling. Our results suggest that there are small but significant benefits from education in schools in more densely urbanised settings. We detect this density advantage even amongst pupils moving relatively short distances between Primary and Secondary schools within urban areas, so we cannot attribute it to broad urbanisation effects experienced by pupils making rural–urban school moves. A more likely explanation lies in greater school choice and competition between closely co-located educational providers. 相似文献
The financial theory (Modigliani & Miller, 1958) rises that risk management was not an issue for companies because shareholders could make their own hedging management through portfolio diversification; however, further studies conflict with that statement and show that corporate financial hedging improves performance and increases the value thereof (Ahmed, Azevedo, & Guney, 2014; Allayannis & Weston, 2001; Allayannis & Ofek, 1998). Efficient management of market risks, which is based on the use of financial derivatives, demands strategic and efficient managers in hedging that adds value to the firm, especially in against shocks and imbalances from a macroeconomic and financial nature. Empirical evidence analyzes the performance of the Q-Tobin as an indicator of the effect of hedging strategies of exchange rate associated to the market value. This paper aims to find evidence in Colombia on the effect of using derivatives in the market value of the firm. Its added value lies in the analysis made by economic sectors, identified by CIIU codes and grouped into 5 sectors (Agricultural, Commercial, Industrial or Manufacturing, Services and Construction). The methodology includes several models estimating regression panel data, using a Pooled regression with estimators of fixed and random effects by maximum likelihood estimator. In general, it was found a premium due to hedging, statistically and financially significant, for companies exposed to exchange rate risks that use derivatives by an average of 6.3% on the market value. Moreover, mixed results were found regarding the analyzed variables in the model. 相似文献
The literature on incentive-based regulation in the electricity sector indicates that the size of this sector in a country constrains the choice of frontier methods as well as the model specification itself to measure economic efficiency of regulated firms. The aim of this study is to propose a stochastic frontier approach with maximum entropy estimation, which is designed to extract information from limited and noisy data with minimal statements on the data generation process. Stochastic frontier analysis with generalized maximum entropy and data envelopment analysis—the latter one has been widely used by national regulators—are applied to a cross-section data on thirteen European electricity distribution companies. Technical efficiency scores and rankings of the distribution companies generated by both approaches are sensitive to model specification. Nevertheless, the stochastic frontier analysis with generalized maximum entropy results indicate that technical efficiency scores have similar distributional properties and these scores as well as the rankings of the companies are not very sensitive to the prior information. In general, the same electricity distribution companies are found to be in the highest and lowest efficient groups, reflecting weak sensitivity to the prior information considered in the estimation procedure.
AbstractThis article examines the impact of the British expatriate entrepreneur, and his processes of knowledge transfer, on the industrialization and economic development of Brazil between 1875 and 1914. It focuses on the textiles industry, and combines original trademark data with conventional trade and investment statistics, and also case study analysis about firms and their entrepreneurs. It argues that British investment in Brazil was higher and had a deeper impact on economic development than considered by existing research, as expatriate entrepreneurs ‘disguised’ a substantial amount of foreign investments by acting as shareholders and top managers of newly established local businesses. 相似文献
This article aims at contributing to a body of work about children and families by exploring the importance of socio‐economic context and social capital for understanding the ways in which money is perceived, obtained and used by children. Alleged contrasts in terms of money management, consumption priorities and postponement of gratification, especially among middle and working classes, have already been debated. It seems thus relevant to investigate if these presumable contrasts apply to children and why. Do children from different socio‐economic contexts reveal the traits that have been attributed to their households? To this end, a mixed methods research project was developed involving 245 children attending different primary schools in Portugal—one private school targeted at upper class children and one state‐sponsored school located in a working‐class area. The results revealed significant differences by school and household typology. 相似文献