Search results

To have success in newly liberalized markets, firms must have a plan of action before resources are committed. What some companies do not realize is that their own entrepreneurial orientation (EO) will dictate their strategies, and performance outcomes, in both their home market and abroad. In order to maximize firm performance in newly liberalized markets (such as Cuba), firms must be able to objectively gauge their own EO. The paper aims to discuss these issues.

Within this framework, the present paper will attempt to effectively measure the EO of decision-making managers from US companies that have an interest in entering the Cuban market. A final sample of 81 US managers accepted to collaborate. They were then split into two groups (high and low EO; with 41 and 35 managers in each group, respectively) and compared regarding three variables: entry mode strategy, government affiliation strategy, and performance outcomes.

The results show that EO is related with performance, but not with the two proposed variables of entry mode and government affiliation.

In sum, the added value of the paper is to link US managers’ strategies and performance in a newly liberalized market which has been seldom studied: Cuba. The fields of entry mode strategies and government affiliation decisions in this newly liberalized market remain poorly investigated. Not all firms managed by highly entrepreneurial-orientated managers will decide to enter foreign markets and, on the contrary, domestic firms which are not interested in international markets can be run by highly entrepreneurial managers. This is due, in part, to the fact that internationalization can be driven by other factors. Therefore, this paper will attempt to demonstrate if certain entry modes will perform better than others when the foreign market is a newly liberalized economy. Additionally, the importance, and effect, of governmental relationships on performance outcomes will be tested within the research.

The development of the current European economic area maritime cabotage market occurred when, at a policy level, the European Union forced the opening of its member-states cabotage markets to Community shipowners and extended this openness, in 1997, to the european free trade area countries. A two-tier cabotage market emerged, where a European economic area legislative framework co-exists with the legislative acts of each member-state. With such a unique background, this paper aims to investigate both the European economic area member-states and the rest of the world cabotage regimes and identify a list of reasons and policy measures used to implement cabotage policies.

By means of a desk research methodological approach, this paper analyses, from a geographical perspective, different countries’ cabotage policies and classifies them, and identifies in a systematically way a set of reasons and policy instruments that support each of chosen policies approach.

The outcome indicates that only a few countries promote free liberalised cabotage services and that most countries favour protectionist cabotage policies, whose governments can control the number of foreign vessels participating in these trades. Cabotage regimes have been categorised and the reasons behind both policies and respective policy instruments have been identified.

Quite often, researchers only focus on the cabotage policies of the European economic area countries, the USA, Australia, Japan and South Korea. This paper value rests on its ability to incorporate cabotage policies from other African, Asian and Latin American countries and to update existing information on the subject. Overall, this paper paves the way to broaden the cabotage knowledge.

The aim of this paper is to investigate bank choice/selection criteria in a range of cultural and country economic scenarios. More specifically, the purpose of this study is to understand international consumers' selection criteria of banks using the USA, Taiwan, and Ghana as illustrations.

Following a literature review, the paper adopts the classical multi‐step scale development process which demanded that thorough attention be paid to every step of the process. The study employed exploratory and confirmatory factor analyses to assess the reliability of the results.

The study reveals three key dimensions/factors/strategies that are consistent across all three economies. The paper concludes that open and liberalized business climate appear to explain consumers' decisions.

This research is based on the college student cohort and thus the results do not represent the public. This poses generalizability questions without further replications and validations. This study did not examine whether there were consumers' switching behaviors involving banks.

Insights derived from this study will provide bank managers and advertising executives with the building blocks for understanding consumers' choice criteria of banks in industrialized, newly industrialized and liberalized developing economies.

A comprehensive validated scale measuring international consumers' selection of banks is proposed. In view of the scarce stream of empirical studies dealing with consumers' selection of banks in liberalized developing nations, this research comes at an opportune time, as several governments in these economies are encouraging bank savings, channeling college students' loans through bank accounts and proactively attracting global banks to establish branches in their countries. This study complements the extant literature dealing with consumers' selection of banks. Finally, a cross‐national and cross‐cultural dataset of consumers' choice criteria of banks have been put forward that would enhance further appreciation of the subject of banks selection in varying economies.

Rice is staple food for Bangladeshi people. Although rice markets were liberalized in 1992, the government continued to intervene in this sector. This study examines the farmers’ and private traders’ response in liberalized rice marketing system in two regions. 40 farmers and 20 traders were interviewed by using a structural questionnaire for collecting the necessary information. The liberalization of the rice market, in particular, has been embraced more by the private traders then by the farmers. Although there has been a rapid emergence of private traders, the emergence of a vibrant trading sector that would fill the gap left by the state has been slow. The rice market is segmented with the private traders supplying different market circuits. Farmers on the other have not responded positively due to the lack of capital, lack of storage facilities, lack of market information, dominance of intermediaries and low price during the harvest period. Most of the farmers are unwilling to expand their acreage due to the family requirements of other crops. In rural remote areas where the road infrastructure is poor, private sector marketing activities have not yet emerged. Thus government can foster private participation and market integration by improving the road and storage infrastructure. Furthermore, government needs to take measures that strengthen the agricultural price and marketing information system targeted at both farmers and traders.

This chapter reviews the effects of air transport liberalization, and investigates the roles played by airport-airline vertical arrangements in liberalizing markets. Our investigation concludes that liberalization has led to substantial economic and traffic growth. Such positive outcomes are mainly due to increased competition and efficiency gains in the airline industry, and positive externalities to the overall economy. Liberalization allows airlines to optimize their networks, and thus may introduce substantial demand and financial uncertainty to airports. Vertical arrangements between airlines and airports may offer a wide range of benefits to the parties involved, yet such arrangements could also lead to airline entry barriers which reduce the effects of liberalization. Three approaches have been developed to model the effects of liberalization in complex market conditions, which include the analytical, econometric and computational network methods. These approaches should be selectively utilized in policy studies on liberalization.

The purpose of this paper is to understand the main market entry barriers confronted by the new operators in liberalized railway freight market (Poland and Sweden), as well as to analyze the inaugurating market of Finland.

Swedish and Polish markets were scrutinized utilizing qualitative case study, implemented through semi‐structured theme interviews. Among primary observations, numerous second‐hand sources were used to gain triangulation. Research was conducted during early 2009. The Finnish material was collected with Delphi technique‐based questionnaires in 2005.

The main findings support previous studies arguing that the main barriers to entry are rolling stock acquisition, needed investments and bureaucracy. In Sweden, companies were start‐ups established on the grounds of the incumbent. The Polish market obtained new operators via vertical integration with a significant competitive presence of a governmental operator. Inaugurating Finnish market is identified as a combination of these two. Therefore, it is easier to understand why new entrants are not operating in the Finnish market.

The research contributes novel, first‐hand data to the subject, which earlier have been studied mostly via second‐hand data and literature analyses.

The purpose of the paper is to review the issues involved in determining the appropriate speed of adjustment and the sequencing of economic reforms, and to develop a checklist of key guidelines for policymakers as a basis for their decision‐making process.

The paper develops a conceptual framework based on a survey of the theoretical and empirical literature, and the practical experience of the authors in this area.

The analysis in the paper shows that the optimal speed and sequence of reforms is country‐specific. But key policy considerations can help guide policymakers in the design of their reform strategy.

The arguments favoring a shock approach or a gradual approach are not absolute. Each country has to choose the proper speed of adjustment and sequencing of reforms by examining country‐specific factors. A thorough case‐by‐case analysis is needed before a decision on the appropriate timing and sequencing of reforms can be made.

The analysis in the paper leads to key reform guidelines for policymakers – covering areas such as prerequisites and resource constraints, political economy considerations, credibility and sustainability of reforms – that are instrumental in developing a well‐sequenced strategy.

Market liberalisation has resulted in significant changes not only in the way electricity is traded, but also for the market participants themselves. The bidding behaviour of market participants who are active in a liberalised UK‐like market has been modelled. Both operational and technical parameters associated with the market and its participants are accounted for. Explicit characterization of risk (value at risk) is made with respect to market participants and their attitude to trading. Profit maximization strategies for market participants are then developed based on the minimization of price‐risk under uncertainty. Results are presented for a selected case study and the effect of alternative strategies is compared. The case study concerns several generators who need to determine what proportion of their production they should sell to the market. The results show that based on cost and price forecasts there is scope for generators to profitably take advantage of both contractual and within‐day market trades.

The five countries in Central Asia, namely Uzbekistan, Kazakhstan, Turkmenistan, Tajikistan, and Kyrgyzstan, are landlocked and therefore rely critically on aviation for passenger travel and express cargo logistics. However, despite substantial growth in the past decade, the aviation market in the region is still not realizing its full potential. This chapter reviews the development status of the international air travel market from Central Asia, with an aim of identifying the key barriers for industrial development and growth, and possible remedies to address these challenges. Overall, our study suggests that international market growth from the region is significantly influenced by historical patterns and political ties with Russia. Whereas markets linking selected countries such as Turkey and the UAE have experienced substantial growth, further liberalization is needed for the region to achieve better connectivity with major trade partners and aviation markets.

As Asian telecommunications markets become liberalized, there will be significant impact on the design and management of telecommunications space and pathways. Details of the impact will vary according to each country’s unique approach to liberalization and according to tenants’ expectations with regard to an increasingly competitive telecommunications market. This article explores via each element of telecommunications space and pathways how liberalization of the telecommunications market in Hong Kong is being used as a catalyst to improve services and competitiveness of commercial buildings owned and operated by Hongkong Land Ltd, a major developer of grade A office space in Asia.