Broadening the Concept of International Entrepreneurship: Internationalisation, Networks and Politics

In this article, the situation where a company internationalises over an extended period without changing operation mode is explored. The focus of the empirical research is the Australian company CSR and its large-scale sugar exporting operations, which developed over a period of about 75 years. Because of the highly politicised nature of the sugar industry in many countries, CSR was called upon to make extensive investments in political networks in order to achieve its global sugar exporting operations. Overall the CSR experience demonstrates that it is possible to stretch the use of a given mode, although this may demand considerable creativity in market, network and policy responses of a kind which illustrate that international entrepreneurship may come in many guises, and may need to be viewed in a broader way.     

Portfolio characteristics of outward foreign direct investment and dynamic performance of emerging economy firms: An option portfolio perspective

In recent decades, emerging economy (EE) firms have taken an aggressive approach to international expansion. Drawing upon option portfolio theory, this study develops the characteristics of the OFDI portfolio based on two attributes of a portfolio and two dimensions of host environments. We examine how the characteristics of the OFDI portfolio dynamically influence the OFDI?performance linkage. Using a sample of 545 Chinese listed multinational firms during the period 2009–2018, we find EE firms’ OFDI contributes more to short-term performance when the OFDI portfolio features a higher overall quality of host institutions or a higher diversity of strategic factor market developments in the host countries. However, over a relatively long period, EE firms’ OFDI contributes more to long-term performance when the portfolio features a higher overall diversity of strategic factor markets and institutional environments. These findings offer further knowledge on the OFDI?performance link in emerging economies.     

The new wave of AI-powered luxury brands online shopping experience: The role of digital multisensory cues and customers’ engagement

Academic literature retains a dearth of empirical evidence of the cutting-edge aspect of artificial intelligence (AI)-powered digital assistance and digital multisensory cues, despite the prospect of these factors on real-life customers' luxury brand online shopping experience. Thus, the aim of this study is to examine the significant pathway and effects of AI-powered digital assistance toward customers’ luxury brand online shopping experience. Drawing on S–O-R (Stimulus, organism, and response) and TRAM (Technology Readiness and Acceptance Model) paradigm, a multi-method research design was deployed to investigate constructs. Firstly, semi-structured interviews were utilized to explore customers' online behavior under the luxury brands and information technology aspect. Secondly, survey data were collected and analyzed by using partial least squares structural equation modeling (PLS-SEM) and fuzzy-set qualitative comparative analysis (fsQCA). The PLS-based analysis of quantitative data confirmed the exploratory insights of qualitative findings, establishing the connections of AI-powered digital assistance, customer engagement, and customers' luxury brand online shopping experience. Research findings also suggest that customer engagement plays a mediation role in the relationship between AI-powered digital assistance and customers' luxury brand online shopping experience. Besides, digital multisensory cues moderate the relationship between AI-powered digital assistance and customer engagement. Further, fsQCA complements the findings of PLS-SEM that reveal the significant combination of factors that lead to the perceptions of customers' luxury brand online shopping experience.     

Crypto quanto and inverse options

Over 90% of exchange trading on crypto options has always been on the Deribit platform. This centralized crypto exchange only lists inverse products because they do not accept fiat currency. Likewise, other major crypto options platforms only list crypto–stablecoin trading pairs in so-called direct options, which are similar to the standard crypto options listed by the CME except the US dollar is replaced by a stablecoin version. Until now a clear mathematical exposition of these products has been lacking. We discuss the sources of market incompleteness in direct and inverse options and compare their pricing and hedging characteristics. Then we discuss the useful applications of currency protected “quanto” direct and inverse options for fiat-based traders and describe their pricing and hedging characteristics, all in the Black–Scholes setting.     

绿色壁垒的双刃功能解析

我国加入WTO后,不断受到“绿色壁垒”的困扰,给我国对外贸易造成严重影响。文章主要从纺织业和农产品两个方面就“绿色壁垒”对我国国际贸易的积极和消极影响,以及从它的构筑方和遭受方两个角度来研究其双刃功能。     

东部沿海地区对外开放度与经济增长的实证分析

本文研究的是1994-2005年我国珠三角、长三角和环渤海地区的对外开放程度及其对经济增长的影响。研究结果表明,长三角地区外资依存度的提高对该地区经济增长的促进作用最大,环渤海地区外贸依存度的提高对该地区经济增长的促进作用最大,珠三角地区的对外开放度对经济增长的弹性最低,而环渤海地区最高。通过以上分析我们认为,环渤海地区重点要加快对外开放的步伐,而珠三角、长三角地区应以调整吸收外资的结构为主要目标。     

我国运用“合规性”贸易壁垒的政治经济分析

“合规性”贸易壁垒是保护本国产业和市场的有效手段,但是如果运用不当也会损害国家的政治和经济利益,通过建立适合我国的“合规性”贸易壁垒的政治经济模型,并对模型进行详细分析,研究发展中国家如何对“合规性”贸易壁垒进行合理的运用,以达到政治利益和经济利益的统一。     

拉丁美洲农业利用外国直接投资的实践及启示

拉美农业利用外国直接投资(FDI)的实践表明,外国直接投资在促进拉美农业发展的同时,也给拉美农业带来了诸如被跨国公司支配、转移不适宜技术、造成单一的农业生产结构、环境破坏和劳动力失业等一系列社会经济问题.文章针对拉美农业利用外国直接投资的教训,提出我国农业利用外国直接投资必须遵循的原则.     

外资企业对外贸易与经济增长关系的区域差异分析——基于我国东部和西部地区面板数据的检验

外资企业对外贸易对经济增长的拉动作用已经越来越被理论和实践所证明,但外资企业对外贸易对不同区域经济增长的差异性表现却没有引起足够的重视。本文基于我国东部和西部地区的区域差异,试图从理论与实证的角度就外资企业对外贸易对不同区域的经济影响进行研究,运用面板数据单位根检验、协整检验与误差修正模型,对东部地区和西部地区的外资企业对外贸易与经济增长的长期关系和短期关系进行了比较分析。揭示出由于技术及产业结构等因素,东部地区已经形成外资企业对外贸易对经济增长的良好促进机制,而西部地区尚未形成。在此基础上,本文提出了通过技术提高产业结构升级促进各地区外资企业对外贸易发展和经济增长的相关政策建议。     

基于ARIMA模型的中国外贸进出口预测:2006-2010

ARIMA(Auto-regressive Moving Average)模型是一种常用的随机时序模型,主要用于预测,短期预测精度较高。本文利用ARIMA模型预测了2006-2010年中国外贸进出口总额、出口总额和进口总额。