Search results

The purpose of this paper is to investigate the impact of increasing trade and investment relations between China and Latin American economies. The paper focuses on the threats and opportunities that permeate this relationship.

The paper surveys existing literature and secondary data in Spanish, Portuguese, and in English to investigate the different ramifications of this dynamic relationship between China and Latin American economies.

After analyzing trade and investment trends and data, it is clear that Latin American economies must make changes to increase their participation in the Chinese market. Direct involvement with China is inherently risky, however, the opportunities obviously make the alliance necessary. Latin American economies are under increasing pressure to revamp their business environments and to implement long‐term strategies in order to compete more efficiently with China, domestically and in third‐markets. China has showed Latin American economies that investments in education, R&D, innovation, infrastructure, and friendly business policies, both facilitate and foster the creation of new competitive advantages.

This paper highlights and contributes to a better understanding of the ongoing challenges and opportunities permeating the Chinese Latin America's trade and investment relationship, as well as a indicating a number of areas for further study.

What is the historical, normative and institutional setting that helps leading Latin American and Eurasian countries to implement a post-hegemonic agenda and contribute to the multipolarization of global politics? Post-hegemony describes a situation in which the unipolar organization of the world political economy is challenged by a plurality of alternative projects, without however being entirely replaced by another system. Emblematic of post-hegemonic initiatives is the rise of the Brazil, Russia, India, China and South Africa countries who have taken the lead in creating alternative institutions that constrain US global hegemony, while however failing to spearhead a coherent, uniform and confrontational opposition movement. Regarding post-hegemonic regionalism, Latin American regionalism – as represented by Bolivarian Alliance for Our America (ALBA) – is characterized by a social justice-driven agenda that refutes US neoliberal hegemony, whereas the peculiarity of Eurasian regionalism – as represented by Shanghai Cooperation Organization – lies in its security-oriented focus that confronts US interventionism and international terrorism. An underlying commonality of both Latin American and Eurasian experiences is that they constitute a multi-front struggle centered on four main areas: culture, economy, financial cooperation, and regional defense. They both hinge on a strong normative framework and firm commitment in the regionalization of an endogenous culture, educational cooperation, and defense system. They all accord primary importance to social, financial, and infrastructural development. Overall, these experiences suffer from unresolved tensions between national sovereignty and supranationalism alongside the predominance of charismatic leaders inhibiting institutionalization. The limitations and contradictions of post-hegemonic transformations also include Latin America’s inability to resolve the question of extractivism, Eurasia’s neglect of the question of democratic participation, and both regionalism’s failure to offer a coherent alternative model of economic development to US hegemonism.

The board of directors of a firm is a governing body exercising key top-level decisions. Due to the involvement of the controlling families, boards of directors of family firms have been found to behave differently than those of other organizations. Besides family control, national and/or regional contexts have been suggested to influence how companies are governed. Boards of directors of family firms have been studied mostly in developed regions and knowledge from developing regions such as Latin America is scarce. This chapter summarizes the main findings about boards of directors in family firms and compares this research with our knowledge from Latin America. It discusses the different challenges and opportunities that owners of family firms and boards of directors face in the Latin American context. Finally, it suggests that research on boards of directors of family firms in Latin America has a very promising future as it still has to validate and/or contextualize findings in developed regions, overcome some theoretical and empirical limitations, explore some salient characteristics related to the institutional context in depth, and provide recommendations linking board characteristics and firm performance.

The majority of the supply chain sustainability (SCS) literature is based on research perspectives and findings from studies conducted in developed countries. The purpose of this paper is to analyse the current Latin American publications on SCS (2007–2016) to explore whether another perspective exists.

As part of a structured literature review, 123 peer-reviewed articles published in four Latin American databases were scanned. This literature review was combined with a qualitative content analysis using an inductive and deductive approach to move away from top–down approaches and to illuminate the Latin American perspective on SCS.

The analysis of the scientific literature demonstrates that the traditional three pillars of sustainability are not enough to understand the specificities of the region. This review shows that cultural and institutional dimensions enhance the understanding of SCS locally. In addition, three major triggers for SCS in Latin American economies were found: green supply chain management practices, local development and stakeholder engagement.

A deeper understanding of the Latin American perspective can support scholars worldwide in developing the field of SCS in relevant directions and in comprehending the specificities of their own countries by infusing cultural and institutional elements into their conceptualisations of SCS.

This paper provides an unexplored perspective on SCS because it analyses Latin American publications and presents a mapping of current SCS issues and research gaps that offers insights to guide future research in the field.

This paper explores the relationship between foreign direct investments and financial reporting changes via financial development in 12 Latin American countries during the period from 1997 to 2010.

In order to control the possible endogeneity problem, the Generalized Method of Moments (GMM) estimation technique has been conducted using country-level panel data obtained from the World Development Indicators website.

The empirical analyses provide evidence that international accounting standards have a significant effect on foreign direct investments. However, financial development associated with such standards reduces this positive effect. This is an important finding, suggesting that investors are likely to prefer portfolio to direct investments in Latin American financial markets that require or permit the use of international accounting standards.

The conclusions that have been drawn from this study are important for investors, creditors, and regulators. Although international accounting standards appear to affect foreign investments, there could be a lack of adaptation of these standards to specific economic environments due to cultural, educational, and economic factors. Therefore, firms, regulators, professional organizations, and accounting firms should make necessary arrangements so that the benefits of using these standards increase their costs.

The study contributes to the international accounting literature by examining the effects of international accounting standards and financial development on foreign direct investments in Latin America.

Latin America's contagion from the Asian shock was limited because: a) the region had successfully implemented structural reforms in recent years; b) policymakers acted swiftly to make appropriate changes in fiscal and monetary policy; and c) abundant reserves facilitated a relatively smooth adjustment. The Russian shock proved much harder to weather, as it adversely affected risk perception about emerging markets as an asset class resulting in an abrupt halt of capital inflows and a deep recession. Recent developments in international capital markets suggest a more benign environment for growth. This, however, provides no guarantee of a sustainable recovery for all economies in the region.

The purpose of this paper is to examine whether multinational corporations moving into China have a negative impact on the extent of foreign firms moving into other developing countries in East Asia, Latin America and Eastern Europe.

The paper controls for a comprehensive set of determinants of why multinational enterprises enter the economies of East Asia, Latin America and Eastern Europe and then adds and examines the instrumented foreign direct investment flows into China to proxy the impact of China on these other economies.

It was found that the multinational enterprises entering into China stimulate investment in east Asia, but have no significant effects on multinational enterprises entering into Eastern Europe and Latin America.

Owing to data constraints, it was not possible to examine if these conclusions hold for different sectors such as the automobile and electronics sectors.

Governments in developing countries should focus on increasing their attractiveness to multinational enterprises. Policies such as lowering of the corporate tax rates should help.

The paper includes a very comprehensive set of factors and then uses foreign direct investment flows into China as a proxy for the impact of China on other economies.

This chapter offers a brief comparative and socio-educative overview of Latin America and the Caribbean, elaborated with the purpose of guiding reflection on the diversity of contexts that constitute the region. This overview highlights economic, social, political and cultural aspects that characterize the region and that, consequently, indicate points of departure and arrival for the design and implementation of educational policies aimed at satisfying the socio-historical needs of each of the Latin American countries.

This abbreviated study includes a systematic review and contrast of basic aspects of regional education systems, focused on achieving the formation of an integral citizen, capable of applying the acquired competencies in the resolution of problems that will prepare them for insertion in the labor market once their schooling is completed. In this sense, the countries and dependencies that integrate the Latin American and Caribbean region still face complex challenges closely related to the quality that educational services have achieved, in addition to the conditions of equality and equity so necessary to integrate the broad sectors of the population located on the thresholds of poverty and marginalization, of the secular horizon that has characterized the Latin American socioeconomic reality.

The purpose of this paper is to examine the magnitude of country, industry and firm‐specific effects for firms competing in emerging economies and also explore differences between high and low performers.

The authors use ANOVA methodologies on samples from firms competing in Latin America between 1990‐2006.

It was found that the firm‐specific effect is the most important one, and relatively equivalent in magnitude to the firm‐specific effects found in developed countries. Country and industry effects are less important than the firm‐specific effect. Contrary to previous studies that indicate that the country effect is relatively more important in emerging economies, the authors found that it is even less important than the industry effect, a result that has important implications for strategic management and international business theory. The source behind the strong firm‐specific effects might stem from their resources and capabilities to manage and take advantage of the institutional and macroeconomic environments. Further analysis indicates that the firm‐specific effect is relatively more important for firms showing high performance than for those firms showing low performance.

Through these findings the authors feel that further research is needed so as to arm future managers with a more clear and comprehensive strategy when doing business in a Latin American country. The paper's findings are specific for large public corporations in Latin America.

The paper allows managers to think about sources of competitive advantages in emerging economies.

The paper shows that, despite weak institutional contexts and highly volatile macroeconomic environments, managers in the region should be able to obtain substantial differences in economic performances within the region. Activities needed for such differentiation might differ from those carried out in developed countries, with more emphasis on managing institutional voids and periods of economic and political cycles but the result should be the same.