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Article
Publication date: 16 July 2018

Gianluigi Giorgioni

The purpose of this paper is to provide a critical overview of the recent phenomenon of outward foreign direct investment (OFDI) from China, from a more macro and…

Abstract

Purpose

The purpose of this paper is to provide a critical overview of the recent phenomenon of outward foreign direct investment (OFDI) from China, from a more macro and historical perspective.

Design/methodology/approach

The paper critically reviews the extant literature and re-assesses available data on OFDI from China.

Findings

It is argued that despite the explosion of academic interest the phenomenon was neither unpredicted nor sudden.

Originality/value

The paper also argues that OFDI from China is not yet so important and neither presents insurmountable challenges to the established literature on FDI.

Content available
Article
Publication date: 6 June 2018

Canh Thi Nguyen and Lua Thi Trinh

The purpose of this paper is to assess both short and long-term influences of public investment on economic growth and test the hypothesis that whether public investment…

Abstract

Purpose

The purpose of this paper is to assess both short and long-term influences of public investment on economic growth and test the hypothesis that whether public investment promotes or demotes private investment in Vietnam.

Design/methodology/approach

The authors use the approach of autoregressive distributed lag model and Vietnam’s macro data in the period of 1990-2016, to evaluate the short and long-term effects of public investment on economic growth and private investment. The model evaluates the impact of public investment on economic growth and private investment based on the neoclassical theories. The public investment which strongly affects economic growth is also reflected by aggregate supply and demand. Public investment directly impacts aggregate demand as a government expenditure and aggregate supply as a production function (capital factor).

Findings

The results from this research indicate that public investment in Vietnam in the past period does affect economic growth in the pattern of an inverted-U shape as of Barro (1990), with positive effects mostly occurring from the second year and negative effects of constraining long-term growth. Meanwhile, investment from the private sector, state-owned enterprises, and FDI has positive effects on short-term economic growth and state-owned capital stock has positive impacts on economic growth in both the short and long run. The estimated influence of public investment on private investment also shows a similar inverted-U shape in which public investment have crowding-in private investment short-term but crowding-out in the long run.

Practical implications

The empirical findings in this study can be used for conducting a more efficient policy in restructuring the state sector investment in Vietnam.

Originality/value

The main contributions in this study are: to evaluate the impacts of public investment on economic growth and private investment, the authors extracted public investment in infrastructure from aggregate investment of state sector (as previous studies used); the authors also uses state-owned capital stock variable including cumulative public investment and state-owned enterprises investment suggesting that this could control for the different orders of integration between the stock and flow variable and improve the experimental characteristics of the equation to a higher degree.

Details

Journal of Asian Business and Economic Studies, vol. 25 no. 1
Type: Research Article
ISSN: 2515-964X

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Article
Publication date: 1 July 1997

Vibha Pinglé

State‐owned enterprises (SOEs), in general, have not been successful. Their indifferent performance has been at the center of the debate about the role of the state in the…

Abstract

State‐owned enterprises (SOEs), in general, have not been successful. Their indifferent performance has been at the center of the debate about the role of the state in the economy. To economists, the performance of SOEs is evidence of what is wrong with state intervention. And in recent years privatization has increasingly been regarded as the only way of improving the performance of SOEs. Yet, while unsuccessful SOEs abound, a few high‐performing SOEs such as POSCO (South Korea), Airbus Industrie (France), EMBRAER (Brazil), and MUL (India) can also be found.

Details

International Journal of Sociology and Social Policy, vol. 17 no. 7/8
Type: Research Article
ISSN: 0144-333X

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Article
Publication date: 13 November 2017

Raquel Garde Sánchez, Manuel Pedro Rodríguez Bolívar and Antonio M. López Hernández

The purpose of this paper is to analyse the influence of perceptions of pressure from stakeholders on the managers of state-owned enterprises (SOEs) regarding the need to…

Abstract

Purpose

The purpose of this paper is to analyse the influence of perceptions of pressure from stakeholders on the managers of state-owned enterprises (SOEs) regarding the need to implement socially responsible policies in the supply chain and to disclose corporate social responsibility (CSR) information. The authors also analyse the benefits perceived by public managers from applying CSR in the supply chain and from the greater disclosure of CSR information.

Design/methodology/approach

A structured questionnaire was developed, based on a set of items related to aspects of CSR, and taking into account previous research in this field. The authors also propose a theoretical model with which to analyse relations among the variables studied. This model was verified using structural equation modelling.

Findings

The results obtained are consistent with the proposed model and show that stakeholder pressure has a direct influence on the CSR policies applied by public managers regarding suppliers and information disclosure. The authors also find that public managers believe that applying socially responsible policies in their dealings with suppliers will benefit their business.

Originality/value

Although the question of CSR has been widely debated in the context of private business, very little research has addressed this question in the public sphere, especially in that of SOEs, regarding the practice of socially responsible management with suppliers. Aspects of social responsibility towards suppliers are of considerable importance and some complexity, particularly in public enterprises, which are sometimes the main or only consumer. A better understanding of the connections between these constructs will allow corporate decision makers, particularly those in public companies, to devise appropriate strategies for social responsibility in the supply chain and for the disclosure of CSR information, and thus incorporate stakeholders’ expectations into the design of these strategies.

Details

The International Journal of Logistics Management, vol. 28 no. 4
Type: Research Article
ISSN: 0957-4093

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Article
Publication date: 20 June 2008

Abdelhafid Benamraoui

The purpose of this paper is to provide a detailed analysis of the Islamic banking in Algeria following the financial liberalisation initiated in the 1990 s. It seeks to…

Abstract

Purpose

The purpose of this paper is to provide a detailed analysis of the Islamic banking in Algeria following the financial liberalisation initiated in the 1990 s. It seeks to examine the performance of the sole bank offering Islamic financial products in Algeria, Banque Al Baraka d'Algérie. The study also aims to analyse the methods adopted by the bank to improve the allocation of its financial resources and to boost its earnings.

Design/methodology/approach

Interviews were conducted to learn about the performance and risks associated with Banque Al Baraka d'Algérie operations. All interviews were held one‐to‐one with each respondent in Algeria. Statistical data and financial ratio analyses are also used to support the arguments made in this study. Analyses are carried out on major factors affecting the bank operations.

Findings

The study reveals four key findings: Banque Al Baraka d'Algérie offers only a few Islamic financial products to its customers; most of the instruments are geared towards short‐term financing; the bank's overall performance has improved since its operations in Algeria; and credit risk remains the main obstacle facing the bank.

Research limitations/implications

This research uses a single country case study. The study also refers to the case of one Islamic bank with no competition from other Islamic finance providers.

Practical implications

The analyses presented in this research can be used by policymakers and managers as a guide to developing the existing Islamic banking practices in Algeria.

Originality/value

The study makes a contribution to the literature on Islamic banking in Algeria. It is the first study to particularly investigate the issue of Islamic banking performance in Algeria. The findings achieved in this research will be of interest for practitioners and academics concerned with developments of the Algerian banking industry.

Details

International Journal of Islamic and Middle Eastern Finance and Management, vol. 1 no. 2
Type: Research Article
ISSN: 1753-8394

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Book part
Publication date: 23 April 2018

Ha Ngoc Pham

This chapter describes how public sector reform (PSR) became important following the ‘Doi Moi’ (renovation) programme in 1986. Restructuring of state-owned sector was…

Abstract

This chapter describes how public sector reform (PSR) became important following the ‘Doi Moi’ (renovation) programme in 1986. Restructuring of state-owned sector was regarded as crucial for ensuring the quality of economic growth, and the Vietnamese government (www.chinhphu.vn/portal/page/portal/English) put considerable effort in PSR. The 8th Party Congress (1996) emphasized the urgent need for a more transparent, capable and modern public sector, including efforts to improve law-making process and capacity, reducing burdensome bureaucracy, fighting corruption, increasing leadership by senior officials and improving public service delivery. The government specifies the national PSR Master programme, and the Ministry of Home Affairs coordinates its implementation among ministries, central agencies and provincial governments. Local political leaders (party leaders) determine reforms based on guidelines of the party and government. The author writes that in spite of ambitious public service reform programmes and some positive achievements, the quality of public sector remains poor. The professional capacity of civil service is low, pay is low, corruption is high and processes and structures seem ill-fitted for the market economy. Reform scope is too broad, the capacity of public agencies and civil servants is limited and existing monitoring, evaluation and reporting systems are weak. In some successes, leaders use appointment and promotion to encourage lower level to implement reforms and training to increase understanding. They believe that Vietnamese leadership has become less proactive and vigorous in practicing or embracing bold reform experiments.

Details

Leadership and Public Sector Reform in Asia
Type: Book
ISBN: 978-1-78743-309-0

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Article
Publication date: 16 July 2018

Jefferson Marlon Monticelli, Ivan Lapuente Garrido, Marcelo Curth, Luciana Marques Vieira and Fábio Dal-Soto

The purpose of this paper is to discuss the influence of SOEs on institutions. The authors argue that in some cases there are differences in institutional shape between…

Abstract

Purpose

The purpose of this paper is to discuss the influence of SOEs on institutions. The authors argue that in some cases there are differences in institutional shape between the shape that is actually demanded by an institution’s institutional environment and the shape that the institution itself believes is demanded of its institutional framework. The authors observed a behavior specific to institutions that change their institutional shape in response to demands, irrespective of whether these demands are legitimate, and this behavior was primarily in response to demands from governments and SOEs. The authors call this situation institutional dysmorphia and contrast it with institutional isomorphism.

Design/methodology/approach

This study is characterized by the qualitative approach and descriptive form. It is also a documentary study employing the systematic review technique and critical appreciation in a research group. The case of the Brazilian National Development Bank (BNDES) is analyzed to examine the different relationships between Brazilian SOEs and BNDES. It used secondary data provided by reports, papers and relevant magazines. The authors compare them with the conceptual purpose originated in the Medicine field.

Findings

The study is illustrated by the case of the BNDES and the various different relationships between Brazilian SOEs and BNDES are examined. This is a qualitative and descriptive documentary study, employing the systematic review technique. Specific behavior is observed in institutions that change their institutional shape in response to demands, irrespective of whether these demands are legitimate, and these demands mainly come from the government and from SOEs.

Research limitations/implications

The authors use of secondary data from only one country that was used to present these arguments. The focus was restricted to the institutional framework comprising one institution and SOEs. Private firms were not considered in this institutional framework, but they must be included in a macro-environment. Institutional pressures are dynamic and asymmetric. The dynamism of institutional change was not evaluated, and neither was the evolution of the relationships between government, SOEs and institutions. Finally, researchers need to understand not only top-down models of institutional effects but also the institutional process that incorporates both institutional influence and firm responses.

Originality/value

The term institutional dysmorphia is proposed through the contrast with concepts such institutional isomorphism, with reference to the institutional logics and institutional complexity of these institutions’ and SOEs’ environment. The situation described institutional dysmorphia happening in emerging countries context and might open new avenues for research.

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Book part
Publication date: 8 August 2017

Anna Zakharzhevskaya

This paper examines diverging views on the Chongqing model, the policy experiment led by Bo Xilai from 2007 to 2012 that was famous for its “red songs” and the campaign…

Abstract

This paper examines diverging views on the Chongqing model, the policy experiment led by Bo Xilai from 2007 to 2012 that was famous for its “red songs” and the campaign against organized crime. It has impressed both the supporters of socialist identity of China and the supporters of liberal identity and led to an intense debate concerning China’s path of development. This paper attempts to discuss and clarify to what extent the Chongqing model represented a genuine socialist experiment and the implications of the model for China’s future.

Details

Return of Marxian Macro-Dynamics in East Asia
Type: Book
ISBN: 978-1-78714-477-4

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Article
Publication date: 18 April 2016

Frank L. DuBois and Marcos Andre Mendes Primo

State capitalism is an economic model that relies on the role of a strong central government to support chosen firms and industries with subsidies, tax benefits and other…

Abstract

Purpose

State capitalism is an economic model that relies on the role of a strong central government to support chosen firms and industries with subsidies, tax benefits and other advantages to which non-favored firms or industries do not have access (Bremmer, 2010). From an economic development perspective state capitalism is often used to redirect economic activity to underdeveloped regions (Wickham, 2009; Chobanyan and Leigh, 2006; Porter, 2008). The purpose of this paper is to examine the case of the Brazilian shipbuilding to illustrate the use of state capitalism to direct economic activity.

Design/methodology/approach

Using Porter’s diamond factor model the authors analyze the development of an economic cluster focussed on the shipbuilding industry in northeastern Brazil. Using interviews with company executives and archival information, the authors profile the investments and incentives that the government has made in this region with particular attention to the mechanisms and policy directives designed to support local involvement in cluster activity.

Findings

The authors find that the Brazilian shipbuilding industry offers a unique perspective on the role that governments play in the inducement of economic activity. The authors document the challenges that confront the local enterprise in meeting the requirements of the state controlled buyer and the difficulties associated with developing a local supplier base and finding a qualified workforce. The authors conclude with comments with regard to the applicability of this model to economic development activity in other country contexts.

Research limitations/implications

This research adds to the body of literature on the role of governments in the creation of economic clusters.

Practical implications

Economic development in emerging markets is often associated with strong government intervention. The authors use the Brazilian shipbuilding industry to illustrate the role of a state owned enterprise in facilitation of economic development.

Social implications

Some countries may suffer from what has been known as the “resource curse,” that is, the misallocation of resource wealth into non-productive activities. In this paper, the authors illustrate and attempt by the Brazilian government to use this wealth to create employment opportunities in an underdeveloped region of the country.

Originality/value

Emerging markets are challenged in developing viable enterprises that are competitive in global markets. Most research on the development of industrial clusters is focussed on developed markets. These markets do not have to confront the same challenges found in emerging markets. The research illustrates these challenges and the efforts that may be made to surmount them.

Details

International Journal of Emerging Markets, vol. 11 no. 2
Type: Research Article
ISSN: 1746-8809

Keywords

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Article
Publication date: 3 August 2010

Michel Rod and Nicholas J. Ashill

This paper seeks to examine the role of customer orientation in a model of affective and behavioural job outcomes grounded in Bagozzi's reformulation of attitude theory in…

Abstract

Purpose

This paper seeks to examine the role of customer orientation in a model of affective and behavioural job outcomes grounded in Bagozzi's reformulation of attitude theory in the new public management context of a former public sector government department that has undergone corporatisation and now operates as a state‐owned enterprise (SOE).

Design/methodology/approach

Frontline employees (FLEs) complete a self‐administered questionnaire on how customer orientation affects their job satisfaction and organisational commitment, and how these job attitudes impact service recovery performance and turnover intentions. Data obtained from the FLEs were analysed using the structural equation modeling‐based partial least squares methodology.

Findings

Seven of eight hypotheses are supported. Results suggest that there is a significant influence of customer orientation on job satisfaction and organisational commitment, which in turn influence service recovery performance and turnover intentions.

Practical implications

The research advances understanding of the influence of customer orientation on affective and behavioural job outcomes. SOE managers can take actions on a number of different fronts to assist progress towards improving FLE service recovery efforts and reduce turnover intentions.

Originality/value

The impact of customer orientation on affective job outcomes (job satisfaction and organisational commitment) and behavioural job outcomes (service recovery performance and turnover intentions) has not been investigated in the context of SOEs.

Details

Marketing Intelligence & Planning, vol. 28 no. 5
Type: Research Article
ISSN: 0263-4503

Keywords

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