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Article
Publication date: 1 November 1996

Ian Marsh

Considers the significant shift of Australian business investment from Europe and the USA to the Asian region since 1992. Reveals that over 65 per cent of manufacturing…

Abstract

Considers the significant shift of Australian business investment from Europe and the USA to the Asian region since 1992. Reveals that over 65 per cent of manufacturing, 90 per cent of infrastructure, and some 90 per cent of services investment, committed or under consideration in the last three years, involves projects in regional states. Survey findings suggest the need to locate operations close to customers is the primary motive, followed by the growth of particular markets. Lower labour costs have also been a factor. In recent years, Australia has also sought to position itself as a regional headquarters location ‐ and has been particularly successful in the telecommunications and software sectors. Finally, Australia has sought to attract regional firms seeking bases in, or experience of, Western environments. Argues that all these developments mark changes in business strategies and in the public policy environment. This realignment of activities creates new opportunities for international managers as it poses an array of new strategic and operational issues for Australian managers. These implications have yet to be reflected in management research.

Details

Management Decision, vol. 34 no. 9
Type: Research Article
ISSN: 0025-1747

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Book part
Publication date: 24 November 2017

Srishti Goyal and Vasudha Chopra

The investment development path of emerging markets’ MNEs is significantly different from the developed (TRIAD) world’s MNEs; BRIC MNEs seem to have taken a different…

Abstract

Purpose

The investment development path of emerging markets’ MNEs is significantly different from the developed (TRIAD) world’s MNEs; BRIC MNEs seem to have taken a different trajectory on account of various political and economic reasons, ranging from the ‘forms of entry’ to ‘country-specific advantages’ (Tulder, R. V. (2010). Toward a renewed stages theory for BRIC multinational enterprises? A home country bargaining approach. In K. P. Sauvant, G. McAllister, & W. A. Maschek (Eds.), Foreign direct investments from emerging markets: The challenges ahead (pp. 61–74). New York, NY: Palgrave Macmillan). Yet, some believe that in the long run the internationalization strategy of the developed world MNEs and BRIC MNEs will converge. Internationalization strategies as measured by OFDI depend on various macroeconomic determinants such as income, interest rate, openness of the economy, etc. The chapter intend to highlight, the significant difference between these two groups of countries on account of diverse political reforms towards internalization of firms, yet see if these different countries might converge.

Methodology/approach

Regression analysis examines the significance of the role of home government by testing the effect of governance indicators; that is voice and accountability, on OFDI. It further, tests for convergence of internationalization strategies of the two historically divergent groups, also, it tests convergence amongst the BRIC nations. Along with forecasting, time series analysis is also employed to examine convergence using univariate sigma convergence techniques.

Findings

Impact of voice and accountability is significant but it hinders OFDI for BRIC nations, while it promotes OFDI for TRIAD & ALL. Moreover, the analysis found the existence of convergence, that is BRIC will catch up with TRIAD, but though convergence exists amongst BRIC if we take a long span of time (45 years), it is absent in short span of time (19 years), as lately BRIC have shown divergent tendency.

Research limitations/implications

Small sample size in multivariate regression analysis. Also, the governance indicator, that is voice and accountability, is perception based, and missing gaps in data for governance indicator is filled using interpolation.

Originality/value

Empirically testing the convergence of BRIC nations with the developed world. A univariate time series analysis is undertaken to understand each country’s heterogeneous FDI outflows and to address the research gap in existing forecasting literature. In addition, the comparison specifically between the Emerging Market Economies, that is the BRIC nations and the developed world gives some useful insights. This chapter ascertains the impact of governance indicator on OFDI; empirical literature shows such analysis for IFDI & FDI, but OFDI is rarely been dealt with.

Details

The Challenge of Bric Multinationals
Type: Book
ISBN: 978-1-78635-350-4

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Article
Publication date: 1 July 2006

David Bradshaw

The purpose of this paper is to explore the element of trust that is common to and underpins both the successful legitimate business venture and the successful fraud.

Abstract

Purpose

The purpose of this paper is to explore the element of trust that is common to and underpins both the successful legitimate business venture and the successful fraud.

Design/methodology/approach

The paper questions whether the cumulative effect of financial crime in our society may ultimately be more serious than in terms of damaging personal and business relationships than the actual losses incurred.

Findings

Law enforcement agencies must not lose sight of the significant impact that financial crime is having on our everyday activities. There is a pressing need to ensure that within our communities trust remains a power for good within business relationships.

Practical implications

The paper was aimed at raising the awareness of the intangible impact of white collar crime on our society and the need to avoid becoming complacent about such offending at a time when the law enforcement focus in many countries tends to be on violent offending in our community.

Originality/value

The paper will be of interest to those working in the field of economic crime or researching the topic.

Details

Journal of Financial Crime, vol. 13 no. 3
Type: Research Article
ISSN: 1359-0790

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Article
Publication date: 18 May 2012

Steffen Kinkel

The purpose of this paper is to present an empirical investigation of recent trends and changes in companies' production relocation and backshoring behaviour against the…

Abstract

Purpose

The purpose of this paper is to present an empirical investigation of recent trends and changes in companies' production relocation and backshoring behaviour against the background of the global economic crisis.

Design/methodology/approach

The empirical research is based on a large data set of 1,484 German manufacturing companies as part of the European Manufacturing Survey (EMS). The paper employs a structured set of probit analyses to identify the differences of production relocation and backshoring determinants before and within the crisis.

Findings

Against common belief the paper finds that not only the relocation of production to emerging countries, but also the backshoring of once offshored manufacturing capacities to the home base is a relevant phenomenon. Since the emergence of the global economic crisis, relocation activities declined significantly, whereas the level of backshoring activities has remained stable. Far‐shore destinations in Asia gain in attractiveness over near‐shore locations in Eastern Europe. Particularly export‐intensive companies tended recently towards (re‐)concentrating of their production capacities, trying to exploit the benefits of higher capacity utilisation and a superior relation of variable costs to fix costs at their existing locations.

Research limitations/implications

Although covering a significant range of industrial sectors in Germany, more empirical evidence is needed from other branches and countries. Looking forward it is proposed to systemically integrate scenarios on the future development of the most influential environmental factors in future research frameworks for global production decisions and value chains.

Practical implications

The findings strongly recommend a revision of established decision‐making schemes for production relocations based on pure cost efficiency considerations. Decision‐making should integrate qualitative environmental factors and dynamic considerations using scenario‐based tools. Companies need to understand and prepare for dynamic developments at different locations which can strategically necessitate backshoring after a certain time.

Originality/value

The research considerably widens the empirical knowledge on recent trends in relocation activities and their inherent risks, which in a dynamic perspective are sometimes forcing backshoring activities.

Details

International Journal of Operations & Production Management, vol. 32 no. 6
Type: Research Article
ISSN: 0144-3577

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Book part
Publication date: 6 August 2014

John D. Kasarda and Stephen J. Appold

Commercial aviation continues to grow but few passenger or cargo journeys begin or end at airports. “Terminal” and “last” mile costs can place considerable drag on…

Abstract

Commercial aviation continues to grow but few passenger or cargo journeys begin or end at airports. “Terminal” and “last” mile costs can place considerable drag on interregional trade in goods and services, attenuating growth and prosperity. The aerotropolis model provides a holistic framework for understanding – and addressing – trade costs. The central tenets of the aerotropolis model are outlined and extended by considering the decision to establish a new business facility. Implications are drawn for planning a competitive aerotropolis as the global economy enters a new era.

Details

The Economics of International Airline Transport
Type: Book
ISBN: 978-1-78350-639-2

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Article
Publication date: 1 May 1992

Alvin G. Wint

Reports on a study that examines, by interviews and archivalresearch, the promotional structures which 11 governments in tencountries have put in place to market their…

Abstract

Reports on a study that examines, by interviews and archival research, the promotional structures which 11 governments in ten countries have put in place to market their economies to foreign investors. Focuses specifically on the various forms through which these governments have conducted their overseas marketing operations. Finds that governments that have been most effective in influencing foreign investors have created overseas offices that “stand alone”, and are unconnected with the governments′ other foreign operations. Also identifies the conditions necessary for a successful overseas investment promotion operation.

Details

International Journal of Public Sector Management, vol. 5 no. 5
Type: Research Article
ISSN: 0951-3558

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Article
Publication date: 14 March 2008

Dana Ward

The purpose of this paper is to summarize the main conditions that a UK investment manager has to meet in order to benefit from a UK tax exemption known as the Investment

Abstract

Purpose

The purpose of this paper is to summarize the main conditions that a UK investment manager has to meet in order to benefit from a UK tax exemption known as the Investment Manager Exemption (IME) and comment on the key developments introduced in the revised Statement of Practice.

Design/methodology/approach

Provides background explaining legislation that defines the IME and its Qualifying Conditions and then goes on to explain the impact of the revised Statement of Practice

Findings

The IME is an exemption for non‐residents trading in certain investments in the UK where that trade is carried on through an investment manager. The IME was introduced in order to promote investment activities in the UK by providing some degree of certainty on the tax treatment of UK managers who manage offshore trading funds. The original Statement of Practice 01/2001 (SP 01/01) was issued by HMRC to provide guidance on the application of the legislation and, more specifically, on how the conditions in relation to the IME are satisfied. The policy aims of the revised Statement of Practice are to improve the IME and also to meet new developments in the investment management industry, thus providing more certainty in relation to the scope and application of the rules.

Practical implications

It is critical that processes are in place to demonstrate satisfaction of the Qualifying Conditions for the tax exemption; and in particular, contemporaneous and detailed transfer pricing documentation needs to be in place for all but the simplest of structures.

Originality/value

Practical guidance from a tax partner of a leading accounting firm.

Details

Journal of Investment Compliance, vol. 9 no. 1
Type: Research Article
ISSN: 1528-5812

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Article
Publication date: 20 March 2009

Alok Chakrabarti and Pradip K. Bhaumik

The purpose of this paper is to study the internationalization of technology development in India. The internationalization of research and development (R&D) has not been…

Abstract

Purpose

The purpose of this paper is to study the internationalization of technology development in India. The internationalization of research and development (R&D) has not been a recent phenomenon. Large multinational companies increased their R&D investment in various host countries during the past years. While the US and the countries in Western Europe have been the traditional locus of R&D, China and India have emerged lately as the destinations for R&D. The changes in geopolitical systems of trade and intellectual property protection couples with the advances in information and communication technology have helped globalize the R&D activities.

Design/methodology/approach

The study has used the US patents as a surrogate measure for the technical output from India. The data include all US patents granted between 1992 and 2007 in which at least one inventor was an Indian resident. Studies in the field of economics of technology and in science policy have used patents as a valid measure of R&D output.

Findings

The results of this study indicated that there were three phases of technological development in India. Intensity of patenting, role of the different institutions in technology development, and the focus of technology characterize each phase. By examining the co‐inventors, the authors see how the international cooperation among scientists has shaped. While government laboratories under the aegis of the council of scientific and industrial research had a high number of patents, their role has gone through significant shifts among the three phases. The authors also find that the multinational companies from the US have driven the recent growth in Indian patenting and are using more of all‐Indian teams for patentable research. This indicates maturation the skills of technical personnel in India in terms of developing patentable technology. The study also points out the fact that despite the growth of the Indian corporations in the IT sector, they lack in building their own intellectual property. If India wants to maintain the momentum of growth in corporate R&D, it faces the challenge of upgrading its higher education in producing technical graduates at masters and doctoral levels.

Research limitations/implications

Limitations of the study include the validity of patents as the sole measure of innovation and technology development. The process of obtaining patents in the US is expensive and it may deter some organizations to pursue it. Other methods to obtain data on innovative activities may be necessary to validate the findings reported here.

Practical implications

The study provides a rich source of information about the growth of technological fields in India and the challenges that it faces in building its global competitiveness.

Originality/value

The study should be useful in identifying the sectors where India has developed strengths and the areas where it needs to improve. Also, by examining the ownership pattern of the intellectual property in these sectors, one can postulate the technological independence of Indian organizations.

Details

Journal of Indian Business Research, vol. 1 no. 1
Type: Research Article
ISSN: 1755-4195

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Article
Publication date: 30 October 2007

David Knights and Beverley Jones

The purpose of this paper is to examine critically both utopian and dystopian discourses of offshoring so that a more considered, nonetheless theoretically informed, view…

Abstract

Purpose

The purpose of this paper is to examine critically both utopian and dystopian discourses of offshoring so that a more considered, nonetheless theoretically informed, view of the global offshore phenomenon can be formed.

Design/methodology/approach

Drawing upon some preliminary research on offshoring ventures from the UK to India, and the extant literature, the practice of business process outsourcing (BPO) via offshoring is explored and critiqued.

Findings

It is argued that neither dream nor nightmare is the adequate discursive metaphor to capture what we have discerned through our research on offshore outsourcing.

Originality/value

The primary contribution of this paper is that demonstrates that utopian and dystopian discourses fail to adequately explain the practice of offshore BPO and that in cultural, economical, ethical, and political terms, it is much more complex.

Details

International Journal of Sociology and Social Policy, vol. 27 no. 11/12
Type: Research Article
ISSN: 0144-333X

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Article
Publication date: 20 July 2012

Philip Morris

The Isle of Man, a British Isles offshore jurisdiction located in the middle of the Irish Sea, has experienced three separate bank collapses during a relatively brief 26…

Abstract

Purpose

The Isle of Man, a British Isles offshore jurisdiction located in the middle of the Irish Sea, has experienced three separate bank collapses during a relatively brief 26 year period. These collapses have affected in excess of 20,000 depositors and inflicted significant damage on investor confidence in the Isle of Man as an offshore finance centre. The purpose of this paper is to trace the evolution of deposit protection during this time frame, teasing out the delicate balance required in small offshore jurisdictions between rigorous standards of investor protection on the one hand and the vital importance of remaining competitive with rival offshore finance centres on the other. It critically evaluates the recently enacted Isle of Man deposit compensation scheme (DCS) by reference to this organising principle.

Design/methodology/approach

The paper outlines the nature of the Manx jurisdiction and its offshore development. Focussing on the period 1982‐2010, it discusses the three separate bank collapses and insular regulatory and legislative responses. The focal point of the paper is a critical evaluation of the new Isle of Man DCS including comparisons where appropriate with deposit protection schemes in the Channel Islands offshore jurisdictions of Jersey and Guernsey and discussion of the extent to which the new Isle of Man DCS complies with specific features of recently formulated international best practice standards.

Findings

The paper reports that insular regulatory and government responses to bank collapses have tended to be distinctly short‐term and reactive. Despite being the first small offshore jurisdiction in the world to embrace the principle of deposit protection in 1991, there has been a conspicuous failure in the Isle of Man to develop related financial safety net policies, and the overriding motive for the introduction and indeed continuation of deposit protection has been to repair enduring reputational damage inflicted on its offshore finance centre by successive bank failures. The new Isle of Man DCS conforms to this model, reflecting insular anxieties regarding risks of lost banking business to rival offshore jurisdictions as opposed to rigorous standards of investor protection.

Originality/value

Analysis contained in this paper sheds light on the problem of effective deposit protection in small offshore jurisdictions, including tensions in policy terms between principled investor protection and finance centre reputational and competitiveness concerns. It also highlights, more broadly, the endemic problem of delivering optimum investor protection at (small) jurisdictional level in the context of international banking groups operating on a multi‐jurisdictional basis and deploying entrenched business models which operationalise offshore banking arms as essentially vehicles for the onward transmission of liquid funds to treasury functions located in parent groups' home jurisdictions.

Details

Journal of Financial Regulation and Compliance, vol. 20 no. 3
Type: Research Article
ISSN: 1358-1988

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