在华服务业跨国公司对我国服务业的影响及启示

服务业跨国公司的对外直接投资已占世界对外直接投资总的存量和流量的一半以上。而我国吸引服务业跨国公司对外直接投资总体上尚处于起步阶段。在分析服务业跨国公司在华投资现状的基础上,论述了其对我国服务业发展的影响。在加入WTO五年保护期结束后,如何在新的开放形势下吸引服务业跨国公司来华投资,同时保护和发展我国服务业,提出了自己的意见和建议。     

中韩自由贸易区的可行性与障碍分析

中韩自由贸易区作为推动中日韩乃至整个东亚地区经济合作的有效途径,它的建立十分重要.在建立中韩自由贸易区是必要的这一前提下,从中韩政界和企业界的态度、经贸文化交流、经济互补性和建立后的贸易效应四方面论证建立中韩自由贸易区是可行的;同时,指出建立中韩自由贸易区的障碍并提出了相应的对策.     

An outcome-based assessment of international transfer pricing policy

Instead of concentrating on the selection of the optimal transfer pricing method, this paper focuses on the consequences of international transfer pricing for multinational entities. A sample of U.S.-based multinational firms is employed to determine if transfer pricing results in measurable financial outcomes. Results of the study indicate that firms employ international transfer pricing to meet a variety of objectives. The dollar value of international transfers and the foreign sales percentage are both significant explanatory variables for the financial outcomes of these objectives.     

Overall and time-varying effects of global and domestic uncertainty on the Korean economy

This study analyzes the overall and time-varying effects of global and domestic uncertainty on the Korean economy by estimating constant parameter and time-varying parameter vector autoregressive models. Global and Korea-specific uncertainty are measured using the method proposed by Mumtaz and Theodoridis (2017). A rise in both the uncertainty measures has an adverse impact on the Korean economy by lowering stock market returns and output growth, and by creating inflation caused by currency depreciation. Quantitatively, the domestic uncertainty shock exercises a larger effect on the Korean economy than the global uncertainty shock, as the former uncertainty shock accounts for about one-fifth of output variation and the latter accounts for about one-tenth. Regarding time-varying effects, substantial increases in domestic uncertainty during the Asian Financial Crisis and global uncertainty during the Global Financial Crisis explain a significant part of macroeconomic fluctuations in Korea during those periods. This is because of the increased volatility of uncertainty shocks during these periods, rather than a structural change in the way these shocks affect the economy.     

Subsidiary autonomy and performance in Japanese multinationals in Europe

Notwithstanding the growing body of research on headquarters–subsidiary relationships, the conditions under which subsidiary autonomy leads to enhanced subsidiary performance is still a subject of debate. This study adopts a contingency approach and investigates the effects of external uncertainties and intra-MNE coordination on the performance benefits of subsidiary autonomy. The empirical analysis is based upon cross-sectional data collected from 88 European subsidiaries of Japanese MNEs. Our findings show that subsidiary autonomy has a greater impact upon performance (a) under conditions of technological uncertainty; and (b) when expatriate involvement is high, as the subsidiary can reap the full benefits of entrepreneurial capabilities and enjoy resource interdependencies through interactions with the parent simultaneously. MNC executives should aim for an appropriate balance between subsidiary autonomy and these internal and external factors so that the subsidiaries achieve superior performance.     

Environmental Multi‐dimensionality and Staff Localization in Multinational Enterprises: The Case of Korean Firms

The person–environment fit theory posits that the term “environment” can be defined at different levels. This study delineates two environmental dimensions (strategic and organizational) and empirically examines the potential moderating effects of two strategic factors (intra‐ and inter‐regional diversification) on the relationship between two organizational factors (subsidiary ownership and host‐country experience) and MNE subsidiary staffing composition. The results indicate that strategic and organizational dimensions have impacts on subsidiary staffing composition. This study also finds that the interaction effects between strategic and organizational factors are significant only when there is congruence between demands from different environmental dimensions.     

How an international ambidexterity strategy can address the paradox perspective on corporate sustainability: Evidence from Chinese emerging market multinationals

Corporate sustainability (CS) is receiving considerable attention from emerging market multinational enterprises (EMNEs), playing an important role in the globalized market. However, theoretical and empirical knowledge about how EMNEs address CS is still scant, and the relationship between internationalization and CS has not been widely explored. This study aims to fill this gap, evaluating the relationship between an international ambidexterity strategy and CS in EMNEs, which highlighted the paradox perspective. Then we develop three hypotheses in which we argue how the dynamic capabilities underpinning international ambidexterity could be considered a driver of CS in EMNEs. We test the developed hypotheses against data from 300 Chinese EMNEs obtained by a survey. Our results contribute to shape ambidextrous international strategies and to consider CS as a springboard for the strategic intent to systematically and recursively outperform global competition. Testing a measurement scale of international ambidexterity, we suggest structural ambidexterity as a strategic option of internationalization that allows the achievement of economic, social, and environmental sustainability objectives.     

How credible is the North Korean threat?

We perform event analysis on particular episodes of tension in the Korean peninsula between 2000 and 2008, and investigate the effect of the events on South Korean financial markets (stock markets, bond yield spreads and the exchange rate) given that South Korea would be the first affected by a military aggression from North Korea. Surprisingly, in nearly all cases, these events, which have often been dramatized in the world media, have no significant impact on either of these variables or only a very small one. We also find no significant impact of events on listed firms that would a priori be likely to suffer from increased tension between the two Koreas. Since financial markets often contain better predictions than expert opinions or surveys, these results strongly suggest that the North Korean threat is non‐credible.     

Dimensions of strategic intervention for risk reduction and mitigation: a case study of the MV Sewol incident

Organizations in disaster management system should learn from previous experience and strategically use their lesson for the refinement of a system’s competencies for risk management. However, the MV Sewol incident revealed the absence of the organizational learning in the Korean disaster management system. With mixed methods of content analysis, in-depth interview, and social network analysis, this study identified key failure factors in response to the incident and categorized them by managerial, structural, and institutional domains. While the Korean government took bold steps to rebuild its risk management system, those efforts were biased to structural reforms and lacked fundamental changes in human and informational resources management. Based on the findings, this study suggests the balanced efforts for system refinement for effective risk management.     

Are the BRIC countries overtaking intermediate countries in the race for international R&D? The case of Spain

The emergence of Brazil, Russia, India and China (BRIC) as international locations for foreign direct investment in R&D is a sign that multinationals are relocating their technological activities to new territories. This trend may weaken the supremacy of the developed countries until now considered leaders in innovation, and may mean the loss of the competitive advantages enjoyed by the countries considered intermediate innovators. This paper examines the situation of Spain as a typical intermediate economy and compares it to its main competitors among the BRICs. Based on eight case studies of subsidiaries with R&D centres in Spain, we conclude that the policies adopted by certain emerging economies to develop their national innovation systems are proving effective and that these countries now pose a threat to intermediate economies. However, the BRICs still lag behind in terms of the security of their institutional framework; this situation leaves intermediate countries in an advantageous position.