Sources of and Responses to the Liability of Foreignness: The Case of Korean Companies in the Netherlands

Abstract

This study aims to investigate the liability of foreignness, or the additional difficulties of foreign companies compared to their local competitors. Past studies have found fair amount of empirical evidences for the liability of foreignness. The present study attempts to take one step further by addressing two questions: what are the sources of such disadvantages and what are the solutions sought by the companies? To do this, we conducted a field study exploring the on-going dynamics of foreign multinationals. Specifically, we collected primary data through interviews with Dutch and Korean managers of Korean multinational companies. Through the interviews, we found evidence for the existence of such disadvantages. We identified four sources of the liability of foreignness—cross-border transfer, interaction with the local government, local discrimination, and interaction within the multinational—and two ways in which these companies actively reduced their exposure to the problem—localization and unfamiliarity reduction. This study should be useful to both practitioners and theorists in international business with an interest in disadvantages connected to the foreign status of a company.     

Does “skin in the game” reduce risk taking? Leverage,liability and the long-run consequences of new deal banking reforms

This essay examines how the Banking Acts of the 1933 and 1935 and related New Deal legislation influenced risk taking in the financial sector of the U.S. economy. The analysis focuses on contingent liability of bank owners for losses incurred by their firms and how the elimination of this liability influenced leverage and lending by commercial banks. Using a new panel data set, we find contingent liability reduced risk taking. In states with contingent liability, banks used less leverage and converted each dollar of capital into fewer loans, and thus could survive larger loan losses (as a fraction of their portfolio) than banks in limited liability states. In states with limited liability, banks took on more leverage and risk, particularly in states that required banks with limited liability to join the Federal Deposit Insurance Corporation. In the long run, the New Deal replaced a regime of contingent liability with deposit insurance, stricter balance sheet regulation, and increased capital requirements, shifting the onus of risk management from bankers to state and federal regulators.     

China's outward foreign direct investment

China's outward foreign direct investment (FDI) is steadily increasing. The United States is now a key target for China's outward FDI, and the response by the American public tends to fall at opposite ends of the spectrum: fever or fear. Chinese FDI in the United States faces challenges posed by its liability of foreignness in political, cultural, marketing, and technological aspects. Utilizing mini case studies, we herein examine the polarized responses to Chinese outward direct investment, its history, and the challenges faced by Chinese multinational corporations operating in or attempting to enter the U.S. market. Finally, strategy suggestions are proposed.     

我国民用机场服务创新研究

机场服务创新是提升机场服务业竞争能力的重要途径。为了提升我国民用机场服务创新能力,运用分析研究方法,首先阐述我国民用机场服务创新必要性的基础上,然后深入分析服务创新在机场服务中的体现,最后提出我国机场服务创新的基本路径。结果表明:由于机场服务的特殊性,需要从制定和完善机场服务创新政策,机场服务提供者深入开展组织学习,并从服务理念、服务流程、服务载体、服务方式等方面,实行渐进性创新和局部性创新始发,进而扩展到系统性全局性创新,实现我国机场服务质量的整体性飞跃,从而为建设民航强国提供支撑。     

西方公务员制度“政治中立”原则的内涵剖析

传统西方公务员制度产生于立法权与行政权合二为一的"政党分赃制"时代背景下,其旨在强化行政权,使行政权从立法权中分离出来,脱离政党的控制,这决定了其必然坚持"政治中立"原则。现代西方公务员制度处于行政权一权独大的时代背景下,这决定了必须采取措施重新实现立法权对行政权的有效制衡,表现为淡化公务员"政治中立"原则,加强行政系统对立法系统的"政治回应性"。西方公务员制度在"政治中立"问题上的历史演变本质上是"分权制衡"的政治体制在不同时代背景下有效运作的必然结果。     

Developing capacity within the British civil service: the case of the Stabilisation Unit

ABSTRACT

This paper examines the training and development dimensions of a relatively recent entity within the British civil service—the Stabilisation Unit (SU). Now accountable to UK National Security Council, the unit came into being in 2007 in order to co-ordinate work between the Foreign & Commonwealth Office, the Department for International Development, and the Ministry of Defence in the wake of military interventions in Iraq and Afghanistan. The unit now has a broad crisis prevention and response function. This paper shows how the unit has become an important training and capacity building feature of the modern British civil service. The concluding argument is that there is considerable potential for the unit to be an organizational agent for joining-up government as part of a renewed modernization agenda for civil service learning, training and development.     

期待可能性论对预防刑罚观之实践问题的消解

期待可能性论与预防主义刑罚观是两个不同范畴、不同功能的刑法理论，二者出现了结合的态势。积极预防刑罚观导致刑法过度化问题，“立法要扩张，司法要谦抑”，需要运用责任论加以限制。责任理论也朝着机能化方向发展。期待可能性是现代责任论的核心。机能责任论作为一种升级版的规范责任论，在其理论框架中，期待可能性概念的地位虽然受到了一定限制，但并没有被完全否定，而是作为决定行为人对法律态度的一个根据被提出来。期待可能性依然具有刑法合理评价的价值，积极的一般预防主义本身也不排斥期待可能性，相反，应借助期待可能性论纠正一般预防观在实践中扩大打击面的弊端。我国立法规定为运用期待可能性论宽恕犯罪人提供了必要的空间，但现行教科书将期待不可能性作为无罪过事件并不科学。只有在刑事责任范畴中确定期待可能性论，才可以有效维持期待可能性论的两种评价功能。对网信犯罪的处理，可以进一步验证该理论的合理性。     

Military positions and post-service occupational mobility of Union Army veterans, 1861–1880

Although the Civil War has attracted a great deal of scholarly attention, little is known about how different wartime experiences of soldiers influenced their civilian lives after the war. This paper examines how military rank and duty of Union Army soldiers while in service affected their post-service occupational mobility. Higher ranks and non-infantry duties appear to have provided more opportunities for developing skills, especially those required for white-collar jobs. Among the recruits who were unskilled workers at the time of enlistment, commissioned and non-commissioned officers were much more likely to move up to a white-collar job by 1880. Similarly, unskilled recruits assigned to white-collar military duties were more likely to enter a white-collar occupation by 1880. The higher occupational mobility of higher-ranking soldiers is likely to have resulted from disparate human capital accumulations offered by their military positions rather than from their superior abilities.     

美国刑法中共谋犯的理论根基———“平克尔顿法则”的形成与启示

共谋共同正犯是德日刑法中修正的正犯概念,为了说明其处罚的正当性,德国学者从多个 理论角度做出了尝试,然而,这些理论多少都存在一定缺陷。笔者通过比较分析得出,美国刑法中的 共谋犯概念与德日刑法中的共谋共同正犯概念具有本质上的相通之处,而美国刑法中所确立的平克 尔顿法则使得共谋犯基于有限的刑事代理责任而承担实质犯的罪责。其发展出的事实弱化标准和超 出轻度参与标准不仅为我国在引进及适用共谋共同正犯正当性理论方面打开了新思路,而且为我国 借鉴刑事代理责任制度完善刑法立法提供了借鉴。     

金融新常态对中小银行资产负债管理的挑战

经济金融环境的变化对中小商业银行资产负债管理提出了挑战。在对中小银行的特征进行分析的基础上,明确其优势和劣势,并从利率市场化、存款保险制度、互联网金融、金融创新、巴塞尔协议Ⅲ五个角度,探讨金融新常态对资产负债管理的冲击。最后,提出完善中小银行资产负债管理的建议,推动中小银行从资产负债的“被动管理、分离管理、表内管理”向“主动管理、统一管理、全面管理转变”。