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Book part
Publication date: 29 December 2016

John R. Anchor and Hana Benesova

This chapter seeks to conceptualize a new approach to the identification of the factors influencing the adoption of a political risk assessment (PRA) function. By making use of…

Abstract

This chapter seeks to conceptualize a new approach to the identification of the factors influencing the adoption of a political risk assessment (PRA) function. By making use of firm value maximization and risk aversion and considering the rationale for risk management activities, a number of determinants are identified which can be deployed in future PRA studies. A model for predicting the PRA adoption decision is proposed. Geographical contextualization in one or more emerging markets (EMs) provides a further dimension of originality as well as reflecting an increasingly important international business phenomenon. Political risk (PR) and political risk assessment (PRA) are of increasing importance in the context of the growth and development of emerging markets (EMs). The latter provide opportunities for inward investment from more developed economies. There has also been a rapid growth in outward foreign direct investment (OFDI) from emerging markets to other economies. This chapter adds to the current understanding of PRA by examining this issue in emerging markets (EMs) through the model developed here.

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Risk Management in Emerging Markets
Type: Book
ISBN: 978-1-78635-451-8

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Shipping Company Strategies
Type: Book
ISBN: 978-0-08-045806-9

Book part
Publication date: 26 November 2019

Debabrata Mukhopadhyay and Dipankar Das

Financial sustainability in emerging market economies crucially depends on stable foreign capital inflows as these countries lack adequate domestic capital and sophisticated…

Abstract

Financial sustainability in emerging market economies crucially depends on stable foreign capital inflows as these countries lack adequate domestic capital and sophisticated technology. This study attempts to examine the impact of major political risk factors in the emerging market economies along with basic economic fundamentals such as institutional variables like per capita electric consumption, trade openness, and real rate of interest. We have followed a static panel data approach in studying the impact of these crucial variables in Foreign Direct Investment (FDI) inflows in 15 major emerging economies for the period 2000–2014. Risk perceptions, i.e., political risk data, have been collected from the International Country Risk Guide (ICRG) provided by the Political Risk Services (PRS) Group. In our research purpose, we have considered dependent variable as FDI inflows for 15 emerging countries during the period 2000–2014, which are drawn from the United Nations Conference on Trade and Development (UNCTAD, 2014, 2015) FDI database. Our results demonstrate that there are six subcomponents of risk perception (political risk) which are statistically significant in explaining variation in FDI inflows of the major emerging countries. The results show that government stability, socioeconomic conditions, religious tension, and bureaucracy quality have a positive impact on FDI inflows of emerging countries, whereas internal conflict and law and order have a negative impact on FDI inflows of these countries. Stable government is more attractive to foreign investors. Again, an improvement in the socioeconomic conditions is positively related with FDI inflows in emerging countries. Decreasing bureaucracy leads to a reduction in corruption, and assists expanding FDI flows in the emerging country.

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The Gains and Pains of Financial Integration and Trade Liberalization
Type: Book
ISBN: 978-1-83867-004-7

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Book part
Publication date: 14 March 2022

Teresa da Silva Lopes

This chapter proposes a framework which relates the Firm Specific Advantages (FSAs) of the multinational enterprise with the timing of entry in VUCA-type host environments

Abstract

This chapter proposes a framework which relates the Firm Specific Advantages (FSAs) of the multinational enterprise with the timing of entry in VUCA-type host environments, characterised by high volatility (V), uncertainty (U), complexity (C), and ambiguity (A), and which have become extraordinarily high risk. Drawing on historical evidence, in particular on Geoffrey Jones’ research - to whom this volume is dedicated - on the evolution of international business, it shows that in extraordinarily high-risk environments multinational enterprises need to have additional FSAs beyond those considered in the traditional FSAs/CSAs (country specific advantages/firm specific advantages) framework. The proposed framework distinguishes between prevention, mitigation, avoidance and withdrawal strategies carried out before and after entry in host markets that have become of extraordinary high risk.

Book part
Publication date: 23 April 2005

S. Hoti and Michael McAleer

Abstract

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Modelling the Riskiness in Country Risk Ratings
Type: Book
ISBN: 978-0-44451-837-8

Book part
Publication date: 14 March 2022

Rob van Tulder, Alain Verbeke, Lucia Piscitello and Jonas Puck

Crises are often studied in international business (IB) research as the external “context” for business strategies, but firms can also be active participants in the unfolding of

Abstract

Crises are often studied in international business (IB) research as the external “context” for business strategies, but firms can also be active participants in the unfolding of crises. The study of crises in IB could benefit greatly from studying the role of multinational enterprises (MNEs) as active participants, rather than as mere passive actors, responding to exogenous events. History shows that IB crises typically unfold partially as exogenous processes, and partly as the result of MNE strategies. A multilevel and longitudinal approach to studying crises in IB is clearly necessary. This chapter considers the extent to which smaller events that preceded the present crisis – since 1989 – point to systemic problems in global governance. It also defines five overlapping lenses through which future IB studies can further create relevant insights on how to deal with crises: historic, macro, meso, micro and exogenous. The chapter finally serves as an introduction to the whole Progress in International Business Research volume by indicating the relevance of all parts and chapters that follow.

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International Business in Times of Crisis: Tribute Volume to Geoffrey Jones
Type: Book
ISBN: 978-1-80262-164-8

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Book part
Publication date: 22 June 2011

Jonathan P. Doh

Stephen Kobrin's contributions to international management scholarship are highly influential to the field as it has evolved over the past four decades. They include important…

Abstract

Stephen Kobrin's contributions to international management scholarship are highly influential to the field as it has evolved over the past four decades. They include important insights into political risk, business–government relations, FDI theory and corporate social responsibility. His most recent work has leveraged historical perspectives to inform the emerging nature of the global business environment, with particular attention to the emergence of a globally networked economy and its implications for the range of stakeholders – business, government, non-governmental organizations and citizens. In this chapter, I reflect on Kobrin's contributions from the past to the present, summarizing some of the most important and substantial contributions and offering personal reflections on how those insights have affected the field and leading scholars within it.

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Dynamics of Globalization: Location-Specific Advantages or Liabilities of Foreignness?
Type: Book
ISBN: 978-0-85724-991-3

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International Business Blunders: Lessons for Future Managers
Type: Book
ISBN: 978-1-78769-219-0

Book part
Publication date: 11 August 2014

Shige Makino

The world consists of diverse and distinctive economic systems. Due to the unique historical, cultural and location-specific contexts embedded in each economy, a comparison of…

Abstract

The world consists of diverse and distinctive economic systems. Due to the unique historical, cultural and location-specific contexts embedded in each economy, a comparison of strategic behaviors across economies is unlikely to provide a causal estimate of the influence of these contextual factors on strategy–performance relationships. In this paper, I outline three approaches to researching multinational firms that address this dilemma. They include the multilevel, historical and variance-centered perspectives, all of which can help international-business (IB) researchers develop stronger theoretical foundations from which to explain why country-specific contexts matter in designing IB action and research.

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Multidisciplinary Insights from New AIB Fellows
Type: Book
ISBN: 978-1-78441-038-4

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Contemporary HRM Issues in the 21st Century
Type: Book
ISBN: 978-1-78973-457-7

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