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Local Firms (local + firm)
Selected AbstractsHuman Resource Management Practices at Subsidiaries of Multinational Corporations and Local Firms in TaiwanINTERNATIONAL JOURNAL OF SELECTION AND ASSESSMENT, Issue 1 2000Tung-Chun Huang Global competition has forced corporations to invest overseas in order to gain or maintain competitive advantage. International investment entails not only the movement of capital, machinery, and products but also the spread of corporate cultures to host countries. This is so because, to maintain managerial consistency among its branches, a multinational corporation (MNC) will attempt to transplant its management system to any country in which it invests.However, it is also recognized that cultural contexts differ markedly among nations, and that multinational firms must adjust their management practices to accommodate specific conditions in host-country environments. [source] Emerging Markets as Learning Laboratories: Learning Behaviors of Local Firms and Foreign Entrants in Different Institutional ContextsMANAGEMENT AND ORGANIZATION REVIEW, Issue 3 2005Michael A. Hitt abstract In this work, we examine and integrate the research streams on learning behaviours of both local firms and foreign entrants in emerging markets. We propose that local firms and foreign entrants differ in the types of learning pursued and in the learning processes used. While emerging market firms engage in a significant amount of exploratory learning, they also attempt to exploit the newly gained knowledge in their current markets. Furthermore, foreign entrants engage in exploitative learning as expected but also must participate in exploratory learning to acquire knowledge of culture, institutional norms, and important social relationships. While much of the learning occurs through cooperative processes with both partners, they also each engage in experiential learning. We argue that emerging markets also differ; firms in the more mature emerging markets seek different types of learning and the learning processes used vary compared to those in less mature emerging markets. Our research suggests that emerging markets represent learning laboratories and provide a base to catalyse future research. [source] Networks, firms and upgrading within the blue-jeans industry: evidence from TurkeyGLOBAL NETWORKS, Issue 1 2007NEBAHAT TOKATLI Abstract Since the late 1980s, industry characteristics, country-specific contingencies and international conditions have come together and turned Turkey into a major exporter of jeans. It now has a 6.5 per cent share of the world's market. In this article, I explore this transformation and point out that it has created, especially in the 1990s, significant upgrading opportunities for Turkish firms. A large number of Turkish manufacturing firms are now full-package contractors for a diversified list of brand-name jeans. Some of these manufacturers are also experimenting with functional upgrading by developing their own brands and selling them abroad. Local firms, despite their subordinate position in the value chain, can go beyond low value-added manufacturing and encroach on the core competencies of lead firms. [source] Demand and Supply of Auditing in IPOs: An Empirical Analysis of the Québec MarketINTERNATIONAL JOURNAL OF AUDITING, Issue 3 2000Jean Bédard This study examines the factors affecting the demand for higher-quality auditors at the time of an initial public offering in a small market characterized by low-litigation risk, government subsidies for companies going public, and the presence of large non-Big Six auditors, namely, the Canadian province of Québec. Our results, from an analysis of 212 Québec IPOs between 1983 and 1997, indicate that the choice of an auditor at the time of an IPO is significantly affected by the company's risk, size, and geographical dispersion. They also suggest that the Québec audit market is segmented between three types of service providers: the Big Six, the National firms and the Local firms. Local firms audit small local companies with low risk, National firms audit large local companies with moderate risk, and the Big Six audit large geographically dispersed companies with high risk. [source] STRATEGIC RESEARCH AND DEVELOPMENT POLICY: SOCIETAL OBJECTIVES AND THE CORPORATE WELFARE ARGUMENTCONTEMPORARY ECONOMIC POLICY, Issue 1 2009RICHARD T. GRETZ The article considers the optimal research and development subsidy regime in a two-firm two-country model where each firm is "located" in a specific country. Trade is intra-industry in that customers in both countries purchase from both firms. The article suggests that when both countries subsidize their local firm usually welfare increases compared to the case of zero subsidies. Making the same comparison, profit always falls in the symmetric game and falls about half the time in the asymmetric game. These results call into question some common notions about corporate welfare. (JEL O38, H25, F23) [source] Asymmetric Information, Bargaining, and International MergersJOURNAL OF ECONOMICS & MANAGEMENT STRATEGY, Issue 4 2001Satya P. Das The formation of international mergers is examined in the presence of two kinds of asymmetric information, one when a local firm has private information on market size and the other when a foreign firm has private information on its technology. In each situation, parametric configurations are identified under which a merger offer may or may not be made. It also examines the kind of offer and the probability of its acceptance. The likelihood of a merger beingformed is also related to the basic market size, demand uncertainty, and cost uncertainty. Welfare effects of tax/subsidy policies by the host country are also analyzed. [source] International Joint Venture And Host-Country PoliciesTHE JAPANESE ECONOMIC REVIEW, Issue 4 2003Satya P. Das In the presence of international joint ventures, effects of policies like foreign equity cap, trade protection and domestic resource requirement restriction towards equity sharing and welfare are analysed. Foreign equity cap reduces host country's welfare. Trade protection lowers equity share for the local firm. It has a first-order source of welfare gain as the internal efficiency of the firm improves. Also, there is a first-order loss resulting from a leakage effect, since a part of the surplus goes to a foreign firm. A marginal domestic resource requirement restriction enhances the joint surplus of the venture and social welfare. [source] A comparative study of corporate social responsibility in Bangladesh and PakistanCORPORATE SOCIAL RESPONSIBILITY AND ENVIRONMENTAL MANAGEMENT, Issue 2 2009Malik Asghar Naeem Abstract Making a contribution to sustainable development through good corporate social responsibility presents businesses with a challenge, particularly in developing countries. This paper measures the sensitivity to corporate social responsibility amongst businesses operating in Bangladesh and Pakistan through a review of written policies of both listed local firms and multinational corporations operating there. We use the Global Compact supplemented by relevant parts of the Global Reporting Initiative Sustainability Reporting Guidelines to benchmark companies and countries. Significant differences are found between local listed companies and multinational corporations. However, all companies are seen to be failing to engage with many aspects of corporate social responsibility related to sustainable development. Specific deficiencies relate to anti-corruption, gender equality, child labor, community giving and the formal representation of workers. Few differences are found between the approaches taken by companies in Bangladesh and Pakistan. Given the development needs of the region we point to businesses being unwilling or unable to adopt sufficiently robust corporate social responsibility and point to a role for both government and civil society. Copyright © 2009 John Wiley & Sons, Ltd and ERP Environment. [source] Extraregional Linkages and the Territorial Embeddedness of Multinational Branch Plants: Evidence from the South Tyrol Region in Northeast ItalyECONOMIC GEOGRAPHY, Issue 4 2006Markus Perkmann Abstract: This article reevaluates the regional embeddedness of multinational manufacturing branch plants in view of recent work on global production networks and extraregional links. It argues that the predominance of extraregional production linkages is not necessarily detrimental to regional economies and that such linkages can even compensate for weak territorial innovations systems in noncore regions. The arguments are supported by a case study of the South Tyrol region of Italy, using firm-level data from surveys and interviews, complemented by evidence on institutional conditions. The findings suggest that neither the branch plants nor the locally owned manufacturing firms are strongly embedded in the region in terms of material linkages and interorganizational relationships, indicating that the ownership status of firms is not a good predictor of embeddedness. Second, compared to local firms, branch plants are more innovative and hence contribute to a larger degree to regional upgrading processes. Third, South Tyrol's core institutional structures, such as those governing the labor force, play a decisive role in the competitiveness of branch plants and therefore create codependencies that bind these producers to the territory. The results suggest a more differentiated assessment of the role of branch plants within noncore regions. [source] Governance from Below in Bolivia: A Theory of Local Government with Two Empirical TestsLATIN AMERICAN POLITICS AND SOCIETY, Issue 4 2009Jean-Paul Faguet ABSTRACT This article examines decentralization through the lens of the local dynamics it unleashed in the much-noted case of Bolivia. It argues that the national effects of decentralization are largely the sum of its local-level effects. To understand decentralization, therefore, we must first understand how local government works. The article explores the deep economic and institutional determinants of government quality in two extremes of municipal performance. From this it derives a model of local government responsiveness as the product of political openness and substantive competition. The quality of local politics, in turn, emerges endogenously as the joint product of the lobbying and political engagement of local firms and interests and the organizational density and ability of civil society. The analysis tests the theory's predictions on a database containing all Bolivian municipalities. The theory proves robust. The combined methodology provides a higher-order empirical rigor than either approach can alone. [source] Globalization as Boundary-Blurring: International and Local Law Firms in China's Corporate Law MarketLAW & SOCIETY REVIEW, Issue 4 2008Sida Liu The worldwide expansion of international law firms has generated regulatory battles and workplace conflicts in advanced market economies as well as developing countries. This article uses the case of China to explore the changing global,local relationship in the globalization of the legal profession and to understand the role of the government in constituting the corporate law market. The author argues that the globalization of the Chinese corporate law market is a process of boundary-blurring and hybridization, by which local firms become structurally global-looking and global firms receive localized expertise. Boundary-blurring occurs in law firms' workplaces, in lawyers' career trajectories, and in state regulatory policies. It has produced a localized expertise that can be diffused conversely from local firms to global firms and has partially changed their relationship from collaboration to competition. Consequently, it becomes increasingly difficult for the government to make or enforce any substantive policy to clarify the market boundary between these two types of law firms. [source] Emerging Markets as Learning Laboratories: Learning Behaviors of Local Firms and Foreign Entrants in Different Institutional ContextsMANAGEMENT AND ORGANIZATION REVIEW, Issue 3 2005Michael A. Hitt abstract In this work, we examine and integrate the research streams on learning behaviours of both local firms and foreign entrants in emerging markets. We propose that local firms and foreign entrants differ in the types of learning pursued and in the learning processes used. While emerging market firms engage in a significant amount of exploratory learning, they also attempt to exploit the newly gained knowledge in their current markets. Furthermore, foreign entrants engage in exploitative learning as expected but also must participate in exploratory learning to acquire knowledge of culture, institutional norms, and important social relationships. While much of the learning occurs through cooperative processes with both partners, they also each engage in experiential learning. We argue that emerging markets also differ; firms in the more mature emerging markets seek different types of learning and the learning processes used vary compared to those in less mature emerging markets. Our research suggests that emerging markets represent learning laboratories and provide a base to catalyse future research. [source] JOINT BIDDING, GOVERNANCE AND PUBLIC PROCUREMENT COSTS:A CASE OF ROAD PROJECTS,ANNALS OF PUBLIC AND COOPERATIVE ECONOMICS, Issue 3 2009Antonio Estache ABSTRACT§:,To utilize public resources efficiently, it is important to take advantage of competition in public procurement auctions to the maximum extent. Joint bidding is a common practice that potentially facilitates competition. By pooling financial and experiential resources, more firms are expected to enter the market, but it will also directly reduce competition if more than one bidder who is solely qualified makes a coalition. In theory joint bidding may or may not be beneficial to auctioneers, depending on the model. The paper empirically examines the impacts of joint bidding on firms' entry as well as bidding behaviour, using data on public road projects in developing countries. It shows that coalitional bids, in particular by local firms, would be competitive, but foreign joint ventures would undermine competition. It is also found that good governance can encourage firms' entry into the tendering and facilitate joint bidding practices. [source] The Electronics Industries of the Asia,Pacific: Exploiting International Production Networks for Economic DevelopmentASIAN-PACIFIC ECONOMIC LITERATURE, Issue 1 2001Mike Hobday Although the electronics industry has been one of the main driving forces behind the export-led growth of the newly industrialising economies (NIEs) of the Asia,Pacific, there has until recently been little empirical research showing how the various NIEs managed to enter international markets and gain technology. This paper describes the overall characteristics of the electronics sector in the NIEs, highlighting the main organisational innovations which have enabled local firms to enter international markets and acquire foreign technology. The OEM (original equipment manufacture) system, prevalent in East Asia, is contrasted with the TNC (transnational company)-led growth dominant in Southeast Asia. The paper also discusses the emerging ,contract electronics manufacturing', or CEM, which could threaten traditional OEM and TNC-subsidiary production in the NIEs. The electronics sector proves to be a rich source of empirical material, both for understanding the processes of economic development and for illustrating the role of latecomer enterprise in engaging with and exploiting international production networks. [source] Impact of Government Ownership on Investment Banks' Underwriting Performance: Evidence from China,ASIA-PACIFIC JOURNAL OF FINANCIAL STUDIES, Issue 2 2010Ning Jia G21; G24; G28 Abstract This paper examines the effect of government ownership on investment banks' underwriting performance in China. A large number of Chinese investment banks are owned and controlled by their respective regional governments. While regional governments may capitalize on their superior local knowledge and administrative power to help affiliated investment banks identify and land high quality local issuers, they may also leverage affiliated underwriters to facilitate the capital market access of those underperformed but socially and/or politically desirable local firms. Empirical evidence favors the latter hypothesis. Specifically, using a sample of regional IPOs, we find that issuers underwritten by their respective regional government-affiliated investment banks exhibit lower earnings quality and poorer long-term performance compared with those underwritten by unaffiliated investment banks. However, this difference is attenuated after the abolition of the IPO quota system. Examination of underwriting fees and issuers' shareholder identity provides additional evidence supporting the latter hypothesis. [source] | ||||||||||||||||||||||