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Article
Publication date: 28 August 2007

C. Pitelis

295

Abstract

Details

Development and Learning in Organizations: An International Journal, vol. 21 no. 5
Type: Research Article
ISSN: 1477-7282

Keywords

Open Access
Article
Publication date: 5 December 2022

Zhaopeng Xing and Yawen Wang

Climate risk greatly increases the risk exposure of global investments. Both the climate risks of home countries and host countries may affect international investment behaviors…

1252

Abstract

Purpose

Climate risk greatly increases the risk exposure of global investments. Both the climate risks of home countries and host countries may affect international investment behaviors. The purpose of this paper is to explore the impact of climate risk and climate risk distance on foreign direct investment (FDI) inflows and outflows. Targeted proposals are provided to promote international economic and trade cooperation and the authors provide suggestions for the FDI strategies of multinational enterprises.

Design/methodology/approach

The authors define “climate risk distance” as the difference in climate risks between two countries. This paper uses both a theoretical model and a generalized least squares test to investigate the impact of climate risk distance on FDI from the perspectives of FDI inflows and outflows. In addition, the authors subdivide the samples according to the sign of climate risk distance and rank the FDI share from home country to host country into four groups according to the host country’s climate risk index. Finally, the authors undertake empirical tests with outward foreign direct investment (OFDI) data to support the empirical results.

Findings

Investors from countries with low climate risks have the upper hand due to their competitive advantages, like their skills, trademarks and patent rights, which they can transfer abroad to offset the disadvantage of being non-native. This is generally defined as ownership advantage. The impact of climate risk distance on FDI depends on the sign of climate risk distance. Specifically, host countries with higher climate risks compared with the climate risk levels of home countries may experience insignificant reductions in FDI inflows. For investors from home countries with higher climate risks, they are less likely to invest in host countries with lower climate risks. The results for samples from emerging market economies are shown to be more significant.

Originality/value

This study advances the O (ownership advantage) part of the ownership, location and internationalization (OLI) paradigm by incorporating the climate risk distance between the home country and the host country into the influencing factors of FDI. Both the O part and the L (location advantage, the advantage that host countries offers to make internationalization worthwhile to undertake FDI) part of the OLI paradigm concerning climate risks are validated with FDI and OFDI data.

Details

International Journal of Climate Change Strategies and Management, vol. 15 no. 1
Type: Research Article
ISSN: 1756-8692

Keywords

Open Access
Article
Publication date: 31 December 2003

Young ll Park and Seung Moon

The 1997-98 financial crisis has had a profound effect on how East Asian economies the role of the IMF and its strategic interests relative to those of the United States in the…

Abstract

The 1997-98 financial crisis has had a profound effect on how East Asian economies the role of the IMF and its strategic interests relative to those of the United States in the international financial regime. It has prompted them to create a regional mechanism for financial and monetary cooperation, ranging from deeper policy dialogue and surveillance, to a system of financial cooperation, and common exchange rate arrangements. This paper analyses the economic and strategic motivations behind this and outlines recent developments in financial cooperation in East Asia to provide possible directions for the future.

A network of bilateral swap arrangements under the Chiang Mai Initiative(CMI) needs stronger policy dialogue and surveillance to develop into a regional financing facility, a sort of East Asian IMF. The facility plays a role as an regional lender of last resort, providing short-term funds to a member country facing a temporary liquidity shortage and for market intervention to stabilize foreign exchange rate. East Asian countries need to achieve regional exchange rate stability. In the long run, the region may develop a common currency arrangement, but it cannot be expected in the very near future because there is no convergence of macroeconomic conditions, economic structure and systems. A realistic approach would be for East Asian developing countries to adopt a currency basket system to minimize the impact of dollar/yen exchange rate volatility on their economies. Strong political will and a vision for regional integration will be required to introduce it.

Details

Journal of International Logistics and Trade, vol. 1 no. 1
Type: Research Article
ISSN: 1738-2122

Content available
Article
Publication date: 9 August 2021

Jayden Holmes, Oli Rafael Moraes, Lauren Rickards, Wendy Steele, Mette Hotker and Anthony Richardson

The purpose of this paper is to explore emerging synergies and tensions between the twin moves to the United Nations Sustainable Development Goals (UN SDGs) and online learning…

1499

Abstract

Purpose

The purpose of this paper is to explore emerging synergies and tensions between the twin moves to the United Nations Sustainable Development Goals (UN SDGs) and online learning and teaching (L&T) in higher education institutions (HEIs).

Design/methodology/approach

A preliminary global exploration of universities’ SDG-based L&T initiatives was undertaken, using publicly available grey and academic literature. Across a total sample of 179 HEIs – identified through global university rankings and analysis of all 42 Australian universities – 150 SDG-based L&T initiatives were identified. These were analysed to identify common approaches to embedding the SDGs.

Findings

Five key approaches to embedding the SDGs into online (and offline) HEI L&T were identified: designing curricula and pedagogy to address the SDGs; orienting the student experience towards the SDGs; aligning graduate outcomes with the SDGs; institutional leadership and capability building; and participating in cross-institutional networks and initiatives. Four preliminary conclusions were drawn from subsequent analysis of these themes and their relevance to online education. Firstly, approaches to SDG L&T varied in degree of alignment between theory and practice. Secondly, many initiatives observed already involve some component of online L&T. Thirdly, questions of equity need to be carefully built into the design of online SDG education. And fourthly, more work needs to be done to ensure that both online and offline L&T are delivering the transformational changes required for and by the SDGs.

Research limitations/implications

The research was limited by the availability of information on university websites accessible through a desk-top review in 2019; limited HEI representation; and the scope of the 2019 THE Impact Rankings.

Originality/value

To date, there are no other published reviews, of this scale, of SDG L&T initiatives in universities nor analysis of the intersection between these initiatives and the move to online L&T.

Details

International Journal of Sustainability in Higher Education, vol. 23 no. 3
Type: Research Article
ISSN: 1467-6370

Keywords

Content available
Article
Publication date: 3 December 2018

Nelson Oly Ndubisi and Celine Marie Capel

338

Abstract

Details

Journal of Business Strategy, vol. 39 no. 5
Type: Research Article
ISSN: 0275-6668

Open Access
Article
Publication date: 14 December 2017

Malin Johansson and Jan Olhager

The purpose of this paper is to present recent empirical results concerning offshoring and backshoring of manufacturing from and to Sweden, to increase the understanding of…

8882

Abstract

Purpose

The purpose of this paper is to present recent empirical results concerning offshoring and backshoring of manufacturing from and to Sweden, to increase the understanding of manufacturing relocation in an international context. In particular, extent, geographies, type of production, drivers, and benefits of moving manufacturing in both directions are investigated.

Design/methodology/approach

The study is based on survey data from 373 manufacturing plants. The same set of questions is used for both offshoring and backshoring between 2010 and 2015, which allows similarities and differences in decision-making and results between the two relocation directions to be identified.

Findings

There are many significant differences between offshoring and backshoring projects. Labour cost is the dominating factor in offshoring, as driver and benefit, while backshoring is related to many drivers and benefits, such as quality, lead-time, flexibility, access to skills and knowledge, access to technology, and proximity to R&D. This is also reflected in the type of production that is relocated; labour-intensive production is offshored and complex production is backshored.

Research limitations/implications

Plants that have both offshored and backshored think and act differently than plants that have only offshored or backshored, which is why it is important to distinguish between these plant types in the context of manufacturing relocations.

Practical implications

The experience of Swedish manufacturing plants reported here can be used as a point of reference for internal manufacturing operations.

Originality/value

The survey design allows a unique comparison between offshoring and backshoring activity. Since Swedish firms in general have been quite active in rearranging their manufacturing footprint and have experience from movements in both directions, it is an appropriate geographical area to study in this context.

Details

Journal of Manufacturing Technology Management, vol. 29 no. 4
Type: Research Article
ISSN: 1741-038X

Keywords

Open Access
Article
Publication date: 13 December 2023

Oli Ahad Thakur, Matemilola Bolaji Tunde, Bany-Ariffin Amin Noordin, Md. Kausar Alam and Muhammad Agung Prabowo

This study empirically investigates the relationship between goodwill assets and capital structure (i.e. debt ratio) of firms and the moderating effect of financial market…

Abstract

Purpose

This study empirically investigates the relationship between goodwill assets and capital structure (i.e. debt ratio) of firms and the moderating effect of financial market development on the relationship between goodwill assets and capital structure.

Design/methodology/approach

This research applied a quantitative method. The article collects large samples of listed firms from 23 developing and nine developed countries and applied the panel data techniques. This research used firm-level data from the DataStream database for both developed and developing countries. The study uses 4,912 firm-level data from 23 developing countries and 4,303 firm-level data from nine developed countries.

Findings

The findings reveal a significant positive relationship between goodwill assets and capital structure in developing countries, but goodwill assets have a significant negative relationship with capital structure in developed countries. Moreover, financial market development positively moderates the relationship between goodwill assets and the capital structure of firms in developing countries. The results inform firm managers that goodwill assets serve as additional collateral to secure debt financing. Moreover, policymakers should formulate a debt market policy that recognizes goodwill assets as additional collateral for the purpose of obtaining debt capital.

Research limitations/implications

The study has several implications. First, goodwill assets are identified as a factor of capital structure in this study. Fixed assets have been identified as one of the drivers of capital structure in previous research, although goodwill assets are seldom included. Second, this article shows that along with demand-side determinants, supply-side determinants also play an important role in terms of the firms' choice about the capital structure. Therefore, firms should take both the demand-side and supply-side factors into consideration when sourcing for external financing (i.e. debt capital).

Originality/value

The study considered goodwill as a component of capital structure. The study analysis includes a large sample of enterprises, including 4,912 big firms from 23 developing countries and 4,303 large firms from nine industrialized or developed countries, which adds to the current capital structure information. Furthermore, a large sample size increases the results' robustness and generalizability.

Details

Journal of Economics, Finance and Administrative Science, vol. 29 no. 57
Type: Research Article
ISSN: 2077-1886

Keywords

Abstract

Details

International Journal of Emerging Markets, vol. 14 no. 1
Type: Research Article
ISSN: 1746-8809

Content available
Article
Publication date: 1 January 2006

Dr Nelson Oly Ndubisi

770

Abstract

Details

Management Research News, vol. 29 no. 1/2
Type: Research Article
ISSN: 0140-9174

Content available
Article
Publication date: 29 March 2011

Nelson Oly Ndubisi

2307

Abstract

Details

Asia Pacific Journal of Marketing and Logistics, vol. 23 no. 2
Type: Research Article
ISSN: 1355-5855

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