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The purpose of this paper is to develop and test theory regarding a geographic halo effect, whereby foreign investors draw overly broad impressions about a country based on high levels of violent crime in specific locations impacting foreign direct investment (FDI) across the country.

The authors analyze the impact of homicides on FDI by source country into Mexican states from 2001 to 2015. They estimate fixed effect and dynamic panel models controlling for several determinants of FDI at the state level and the potential geographic spillover of such violence from adjacent states.

The authors find robust support for the existence of a geographic halo effect caused by violent crime. The results show that the highest number of state homicides is associated with lower FDI across states.

The research provides some evidence of the potential role of cognitive biases on FDI decisions. In addition, its focus on Latin America brings attention to an understudied region in international business research.

For practitioners engaged in FDI decisions, the results imply the need to be more aware of potential cognitive biases that may influence them.

Few papers have explored the influence of cognitive biases on FDI.

The uncertainty as to whether investments in riskier and less efficient markets allow managers to ‘beat the market’ remains a question to which answers are required. Accordingly, the purpose of this chapter is to offer new insights on portfolios of the US, European and Emerging Market (‘EM’) domiciled equity mutual funds whose objectives are the investment in emerging economies, and specifically analyses two main issues: alpha generation and the influence of the funds’ characteristics on their risk-adjusted performance.

The dataset is made up a survivorship-bias controlled sample of 137 equity funds over the period January 2004 to December 2014, which are then grouped into equally weighted portfolios according to the scheme’s origin. The Jensen’s (1968) Single-Factor model along with the Fama and French’s (1993) and Carhart’s (1997) multifactor models are employed to authenticate results and answer both research questions.

Research analysis reveals that EM exposed fund managers fail to collectively outperform the market. It thereby offers ground to believe that the emerging world is very close to being efficient, proving that the Efficient Market Hypothesis (‘EMH’) ideal exists in this scenario where market inefficiency might only be a perception of market participants as any apparent opportunity to achieve above-average returns is speedily snapped up by very active managers. Overall these managers take a conservative approach to portfolio construction, whereby they are more unperturbed investing in large cap equity funds so as to lessen somewhat the exposure towards risks associated with liquidity, stability and volatility.

Furthermore, the findings show that large-sized equity portfolios have the lead over the medium and small-sized competitors, whilst the high cost and mature collective investment vehicles enjoy an alpha which although is negative is superior to their peers. The riskiest funds generated the lowest alpha, and thereby produced doubts as to whether investors should accept a higher risk for the hope of earning higher returns, at least when aiming to gain an exposure into the emerging world.

Mutual fund performance is not an innovative topic so to speak. Nonetheless, researchers and academia have centred their efforts on appraising the behaviour of fund managers domiciled primarily in developed and more efficient economics, leaving the emerging region highly uncovered in this respect. This study, therefore aims at crafting meaningful contributions to the literature as well as to the practical perspective.

By distinguishing between types of institutional constraints based on their susceptibility to bribery, this study aims to highlight the different mechanisms through which institutions influence bribery and export intensity. This work highlights the susceptibility of institutional constraints as a key consideration in understanding how bribery influences institutions and has implications for export intensity.

This study utilizes firm-level data from World Bank Enterprise Surveys using a fractional logit estimation method.

An analysis of firm-level data from 26 emerging economies shows support for a positive relationship between permit constraints and firm-level bribery payments. In addition, results provide partial support for a negative relationship between firm-level bribery payments and export intensity. Finally, this study finds partial support for the strengthening impact of financial constraints on the negative relationship between bribery payments and export intensity. However, contrary to our expectations, results indicate that tax rate constraints can weaken the relationship between bribery payments and exports.

This work contributes to international business literature by analyzing how home market institutions influence firms' export intensity. In addition, the study contributes to corruption research by highlighting the importance of heterogeneous susceptibility of formal institutional constraints to bribery. The focus on bribery responds to calls for work on firm misbehavior in international business.

Choosing where to expand is an important firm strategy. We review and structure research in international location choices. First, we categorize research based on the motive for expansion, distinguishing market-seeking and resource-seeking explanations. Within these two categories we assess the progression of the literature toward an increased acknowledgment of strategic interaction among firms. We also evaluate work that begins to account for different modes of expansion. This emerging research explores the role of geography in acquisitions and begins to incorporate firms' often complex geographic configurations. Building on these developments, we highlight the following areas for future research: examining further the role of location in acquisitions, exploring the role of geography in postexpansion restructuring, and investigating the interaction of vertical and horizontal spillovers to entrants.

Building on theories of adolescent learning, including cognitive, personal, social, and moral development, this chapter considers how using media literacy techniques to analyze a children’s television program can create wide-awake, active learners while dissecting media messages. By analyzing children’s television for its portrayal of race and ethnicity, this chapter will explore the role media play in children's understanding of people and cultures outside of their own. A textual analysis of episodes of Maya & Miguel, the chapter describes the depiction of several cultures found represented on the program including White, Asian, African, Dominican, and Mexican and how race, ethnicity, and culture is framed in the television program.

Some theories suggest that television is a primary tool in the socialization of children. Children are attracted to the animation in cartoons, the colors, the movement and the easy-to-follow simplicity of the dialogue. Given the impressionable nature of children, it is possible that they begin to act out the biased nature of the cartoons they watch. Thus, considering their vulnerability, information literacy is relevant to discerning media messages. In this way, information literacy converges with media literacy and visual literacy. Guiding children to interrogate what they view is critically important especially when they are at an age where they can be easily influenced by misinformation or dominant messages. Additionally, the volume of information is steadily increasing in the 21st century as are the modes for accessing, creating and manipulating information. Thus, this work will demonstrate how promoting participatory learning by objectively viewing media and exercising reflective thinking will be important components of children’s education in this millennium.

This paper aims to investigate not only the performance of Portuguese mutual funds investing in domestic and international equities but also which fund characteristics, such as age, size, family size, expense ratios and flows, influence future performance.

Fund performance is evaluated over the 2005–2022 period by a robust six-factor model, while the impact of fund characteristics on performance is assessed by a set of fixed-effects panel data regressions with two-way cluster-robust standard errors.

The results show that, while funds investing in domestic equities predominantly exhibit neutral performance, most international equity funds have significantly negative alphas. The authors document a negative and statistically significant relationship between fund age and performance for all fund categories. Total expense ratios have an inverse relationship with domestic equity fund performance but do not impact the performance of international equity funds significantly. Though fund flows have a neutral effect on performance across the overall period, they are important determinants of both domestic and international funds’ performance in more recent years.

The authors contribute to the literature by carrying out a comprehensive analysis, based on recent and robust methodologies, of the impact of mutual fund characteristics on the future performance of Portuguese equity funds. The research findings serve as a premise for advising investors on how to choose the top-performing funds.

Indoor environments are characterized by several pollutant sources. Some of these can be sufficiently characterized through the prediction of the airflow and pollutant distribution patterns. The purpose of this study was to simulate, analyze and compare different locations of known pollutant source inside a ventilated room.

Computational fluid dynamics modelling approach was used to analyze the prediction of the airflow and pollutant distribution patterns for different locations of known pollutant source inside a ventilated room by mixing ventilation.

Distinct areas of poor air quality, perfectly identified by concentration fields, were given. The indoor air quality obtained by the different simulated conditions was analyzed and compared.

Pollutant concentration was not measured in the validation experiments (qualitative validation based on the velocity fields).

Once the contaminant concentration fields are calculated based on the source location, the model is very useful to choose the best place to install any pollutant indoor equipment to preserve breathing zones.

Providing an effective indoor air quality assessment to prevent exposure risk. The results would be useful for making decisions to optimize the design procedure, such as establish the best location to install polluting equipment, occupied areas and their interdependence with ventilation systems. In addition, this tool also helps to choose the best location and correct set point adjustment for the pollutant sensors.

Just over a decade after the first universities in Brazil adopted quotas for Afro-Brazilians and other disadvantaged groups, the country has implemented the most sweeping affirmative action policies in the Western Hemisphere. The surrounding controversy has inspired a large number of studies, which seek to evaluate the impact and scope of the policies, in terms of racial and social inequality, as well as to gauge perceptions within the public at large. This paper reviews some of the most significant findings of those studies, which have important implications for the global debate over affirmative action in higher education.