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Article
Publication date: 1 July 1999

Wilma Viviers and Jonathan Calof

How do you create a strong and growing cadre of successful exporters? As will be demonstrated in this article, the current direction towards more open trading policies…

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1417

Abstract

How do you create a strong and growing cadre of successful exporters? As will be demonstrated in this article, the current direction towards more open trading policies provides a small part of the solution, but does little to stimulate non‐exporters or develop new exporters. This article proposes a framework which could help all exporters reach their maximum potential and in doing so lay the groundwork for economic growth and prosperity. To ensure that South Africa’s economy reaches its fullest potential requires that the government follow up on the RDP and the DTI White Papers focus on exports with solid action. This would require a concerted effort on the part of the government to develop, manage, execute and evaluate programmes to the different needs of the firms at different stages of export development. By using the proposed framework, programmes can be created to help non‐exporters to become exporters, help new exporters to become committed exporters and eliminate the barriers to achieve more export successes.

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International Journal of Social Economics, vol. 26 no. 7/8/9
Type: Research Article
ISSN: 0306-8293

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Article
Publication date: 25 September 2009

Benjamin Zammit, Donald G. Ross and Dorothy Wood

The purpose of this paper is to examine Australian exporter perceptions of export credit insurance (ECI) value and ECI value drivers to help uncover how Australian (and…

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968

Abstract

Purpose

The purpose of this paper is to examine Australian exporter perceptions of export credit insurance (ECI) value and ECI value drivers to help uncover how Australian (and other) exporters can optimize their ECI use.

Design/methodology/approach

This paper uses a 1,000 firm survey of how Australian ECI users and non‐users perceive the value of often‐cited attributes of ECI and multiple regression analysis to create a model of ECI value drivers.

Findings

Most ECI value is derived from the increased trade exporters can manage with ECI protection and from improved access to trade finance. Clear differences are observable in perceived ECI value between larger and smaller exporters as well as between ECI users and non‐users.

Originality/value

This paper provides the first evidence of perceived ECI value to Australian exporters as well as differences between ECI users and non‐users. Export credit insurers and export support agencies need to focus on these differences to ensure that ECI is being optimally marketed and used by Australian exporters.

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Asia-Pacific Journal of Business Administration, vol. 1 no. 2
Type: Research Article
ISSN: 1757-4323

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Article
Publication date: 23 August 2021

Farid Ahmed, Felicitas Evangelista and Daniela Spanjaard

Relationship marketing has been playing an important role in the development of marketing theory and practice. Though the concept has been extensively applied in…

Abstract

Purpose

Relationship marketing has been playing an important role in the development of marketing theory and practice. Though the concept has been extensively applied in international marketing in understanding the dynamics of exporter-importer relationships, few studies have looked at dyadic data to investigate the impact of mutuality of relational variables on the exporter-importer relationships. The objective of this study is to understand the impact of mutuality of key relational variables on exporter-importer relationship performance. A dyadic model of mutuality is proposed. The model highlights the impact of balance, level and quality of perceptual bi-directionality of relational variables.

Design/methodology/approach

The model was tested using dyadic data collected from exporter-importer relationships involving Australian exporters and their Southeast Asian import partners through a cross-sectional, quantitative survey. Mutuality of relationship constructs was measured using the perceptual bi-directionality (PBD) method.

Findings

The results support the central hypothesis that mutuality of relational constructs has an impact on relationship performance.

Originality/value

The study is the first to apply the perceptual bi-directionality method to measure mutuality of relational constructs in an exporter-importer setting. The study contributes to the general understanding of international business and exporter-importer relationship performance in particular.

Details

International Marketing Review, vol. 38 no. 6
Type: Research Article
ISSN: 0265-1335

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Book part
Publication date: 24 August 2011

Morten H. Abrahamsen

The study here examines how business actors adapt to changes in networks by analyzing their perceptions or their network pictures. The study is exploratory or iterative in…

Abstract

The study here examines how business actors adapt to changes in networks by analyzing their perceptions or their network pictures. The study is exploratory or iterative in the sense that revisions occur to the research question, method, theory, and context as an integral part of the research process.

Changes within networks receive less research attention, although considerable research exists on explaining business network structures in different research traditions. This study analyzes changes in networks in terms of the industrial network approach. This approach sees networks as connected relationships between actors, where interdependent companies interact based on their sensemaking of their relevant network environment. The study develops a concept of network change as well as an operationalization for comparing perceptions of change, where the study introduces a template model of dottograms to systematically analyze differences in perceptions. The study then applies the model to analyze findings from a case study of Norwegian/Japanese seafood distribution, and the chapter provides a rich description of a complex system facing considerable pressure to change. In-depth personal interviews and cognitive mapping techniques are the main research tools applied, in addition to tracer studies and personal observation.

The dottogram method represents a valuable contribution to case study research as it enables systematic within-case and across-case analyses. A further theoretical contribution of the study is the suggestion that network change is about actors seeking to change their network position to gain access to resources. Thereby, the study also implies a close relationship between the concepts network position and the network change that has not been discussed within the network approach in great detail.

Another major contribution of the study is the analysis of the role that network pictures play in actors' efforts to change their network position. The study develops seven propositions in an attempt to describe the role of network pictures in network change. So far, the relevant literature discusses network pictures mainly as a theoretical concept. Finally, the chapter concludes with important implications for management practice.

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Interfirm Networks: Theory, Strategy, and Behavior
Type: Book
ISBN: 978-1-78052-024-7

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Book part
Publication date: 28 March 2006

Bent Petersen, Torben Pedersen and Gabriel R.G. Benito

For many exporting firms, success in foreign markets hinges to a large extent on the performance of their foreign intermediaries (Albaum, Strandskov, & Duerr, 2002; Ellis

Abstract

For many exporting firms, success in foreign markets hinges to a large extent on the performance of their foreign intermediaries (Albaum, Strandskov, & Duerr, 2002; Ellis, 2000; Root, 1987). In spite of the key role played by intermediaries in foreign markets – i.e. sales agents and independent distributors (Solberg & Nes, 2002) – exporters often regard them as temporary arrangements and second-best alternatives to conducting foreign marketing, sales, and service activities in-house. The typical assumption is that foreign intermediaries are low-control entry modes (Hill, 2003; Root, 1987) that do not have the potential of exploiting the full sales potential of export markets. In other words, foreign intermediary arrangements could have inherent limitations that foster mediocre rather than excellent market performance. Several studies report that exporters generally distrust foreign intermediaries and suspect them of shirking at any given occasion (Beeth, 1990; Nicholas, 1986; Petersen, Benito, & Pedersen, 2000). Poor performance is sometimes expected. On the other hand, foreign intermediaries often find that exporters put in place incentive structures that do not induce them to achieve excellent performance. Hence, it is asserted that foreign intermediaries may deliberately seek mediocrity rather than very poor or outstanding performance.

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Relationship Between Exporters and Their Foreign Sales and Marketing Intermediaries
Type: Book
ISBN: 978-1-84950-397-6

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Article
Publication date: 20 May 2021

Xiangyuan Meng, Xue Li, Wenyan Xiao and Jie Li

The authors provide firm-level evidence that external financing affects international trade in a way different from internal financing.

Abstract

Purpose

The authors provide firm-level evidence that external financing affects international trade in a way different from internal financing.

Design/methodology/approach

The authors separate new entrants from incumbent exporters and investigate the roles of external and internal financing in export market participation and export quantity.

Findings

The authors find that external financing is of particular importance, as well as internal financing, in helping a firm become a new exporter. By contrast, external financing, unlike internal financing, is not significantly important for an incumbent exporter to stay in the international market. Regarding export quantity, a firm's internal financing is positively associated with more export quantity, whereas external financing is not.

Originality/value

The authors’ findings are consistent with the existence of significant fixed cost for entering the export market and external financing is particularly needed to cover such cost. Meanwhile, the financial need for maintaining the export status is much less and can be satisfied via internal financing.

Details

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

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Book part
Publication date: 20 January 2014

Jean-Marie Codron, Magali Aubert, Zouhair Bouhsina, Alejandra Engler, Iciar Pavez and Pablo Villalobos

While organization theories acknowledge the influence of specific assets on dependence and increasingly represent the latter as a structure of mutual dependence…

Abstract

While organization theories acknowledge the influence of specific assets on dependence and increasingly represent the latter as a structure of mutual dependence (dependence of A on B and dependence of B on A), there is, to the best of our knowledge, no empirical test concerning the impact of specific assets on a structure of dependence. Our chapter aims to fill this gap. It is all the more original in that it considers a case study where dependence changes sides according to the characteristics of the transaction. We examine the dependence between Chilean exporters and European importers when trading fresh produce. Such dependence originates with the need for just-in-time coordination and compliance with a compelling demand in a context of high price uncertainty.

Using a unique dataset from international trade in fresh produce between Chile and the rest of the world, we justify the use of a concentration sales ratio as a proxy for dependence and test the influence of a variety of specific assets on the side of dependence by using both categorical and dimensional approaches. Original findings show that certain transaction attributes have a strong influence on the side of dependence. In particular, the higher the frequency and the level of specific assets such as volume, niche varieties, and joint sales with other products, in the transaction, the greater the likelihood of a higher ratio of dependence for the importer rather than the exporter. Conversely, in the event of low levels of specific assets and less frequent operations, dependence tends to be greater on the side of the exporter.

Details

International Marketing in Rapidly Changing Environments
Type: Book
ISBN: 978-1-78190-896-9

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Book part
Publication date: 7 June 2013

Spencer Henson, Steven Jaffee and Oliver Masakure

The chapter contributes to on-going debates about the inclusion of smallholders in export value chains for high-value agricultural products. Specifically, it investigates…

Abstract

The chapter contributes to on-going debates about the inclusion of smallholders in export value chains for high-value agricultural products. Specifically, it investigates the factors driving the procurement practices of exporter of fresh fruits and vegetables in sub-Saharan Africa, and specifically sourcing from smallholders. A survey is undertaken of exporters of fresh fruit and vegetables in sub-Saharan Africa. The resulting data are used to estimate econometrically the propensity of exporters to source from smallholders, and the intensity of sourcing among those exporters who do procure from smallholders. Explanatory variables include firm and market characteristics, supply chain costs, type of product, availability of alternative sources of supply, and judgments regarding the performance of smallholders and other sources of supply.The propensity to procure from smallholders is found to be negatively associated with being a small exporter and the performance of medium- and large-scale producers. Exporters are more likely to source from smallholders if they have their own production capacity and smallholders are judged to perform well. The requirement of customers to comply with private food safety standards is found to have no significant effect on the propensity to procure from smallholders. Conversely, compliance with private standards has a strong influence on the intensity of sourcing from smallholders. Exporters judging smallholders to perform well are more likely to source intensively from smallholders, but to source less if they judge their own production to perform well. High fixed costs tend to be associated with lower intensity of sourcing from smallholders. The results suggest that compliance with private food safety standards does not drive the exclusion of smallholders from export value chains; indeed, conversely, the requirement to comply with such standards is associated with greater intensity of sourcing from smallholders. Smallholders evidently play a key role in the defrayment of risk by exporters in that many exporters combine their own production with smallholder procurement. Costs of procurement from smallholders, however, remain an issue. Evidently, the fixed costs of smallholder supply chains increase appreciably with the intensity of sourcing. The research reported here provides a new perspective on the inclusion of smallholders in export value chains for horticultural products. The incorporation of smallholders into these value chains is seen as the outcome of the procurement decisions of exporters. Contrary to much of the discourse in this area, the results suggest that smallholders can and do compete in export value chains for horticultural products even in the context of exacting food safety standards.

Details

Nontariff Measures with Market Imperfections: Trade and Welfare Implications
Type: Book
ISBN: 978-1-78190-754-2

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Article
Publication date: 15 January 2021

Dafnis N. Coudounaris

This study aims to develop a new internationalisation model to describe the exporting and non-exporting behaviours of small and medium sized enterprises (SMEs) and then…

Abstract

Purpose

This study aims to develop a new internationalisation model to describe the exporting and non-exporting behaviours of small and medium sized enterprises (SMEs) and then applying it to a sample of UK SMEs. The conceptual model consists of four forces leading to a successful business.

Design/methodology/approach

The sample is a stratified one taken from KOMPASS directory and focussing on the Greater Manchester area. In total, 250 firms were chosen to be the population of this survey. In total, 110 surveys were received by email i.e. 24 non-exporters and 86 exporters that were fully completed.

Findings

The four forces of the model include the non-exporting activity, the activity before and after the first export order, differences and similarities between non-exporters and exporters and the regular exporting activity. This model’s findings demonstrate important empirical determinants related to four forces, which, in turn, shape the successful exporting activity.

Originality/value

The empirical evidence from the study suggests that the major differences between non-exporters and exporters, which include the differences in management perceptions towards exporting, and the differences and similarities of firm and management characteristics, explain only to some degree what constitutes successful exporting behaviour. The model is considered useful for smaller businesses located in the UK. The study highlights the importance of firms before and after the first export order, which provides insights for managers of firms about going through with the first export order rather than withdrawing from this effort. The study reveals the motivations for exporting, the timing, the modes through which firms export, firms’ management characteristics and attitudinal differences between exporters and non-exporters, which are essential for practitioners.

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Article
Publication date: 16 July 2020

Sunghee Choi, Md. Abdus Salam and Youngshin Kim

The purpose of this paper is to investigate the effect of foreign currency derivative (FCD) usage on firm value. In specific, the authors study the significance of the…

Abstract

Purpose

The purpose of this paper is to investigate the effect of foreign currency derivative (FCD) usage on firm value. In specific, the authors study the significance of the relationship between FCD usage and firm value for exporters and non-exporters, respectively, with consideration of conditions of exchange rate movements.

Design/methodology/approach

As the main empirical test, this paper utilizes the multivariate Tobin's Q model for a panel dataset of 125 non-financial firms, which have been continuously listed on the Dhaka Stock Exchange from 2010–2018. The authors divide the sample firms into two groups: exporters and non-exporters based on theoretical background and estimate the relationship between FCD usage and the firm value measured by Tobin's Q for each firm group. Also, as a complementary test, the Fama–French three-factor model is used to estimate the effect of FCD usage on the monthly portfolio returns of the firms when exchange rate levels and volatility are considered.

Findings

First, the effect of FCD usage on firm value significantly exists in the Bangladeshi non-financial firms from 2010–2018. Specifically, the FCD effect on firm value is negative (hedging discount) for exporters, whereas the FCD effect is positive (hedging premium) for non-exporters. Second, the multivariate analyses suggest the hedging discount (premium) for exporters (non-exporters) is consistent only when the domestic currency appreciates (depreciates). Third, the FCD effect on firm value is consistently positive for non-exporters when exchange rate volatility is higher.

Research limitations/implications

Further studies could be conducted with the detailed data of the firms' hedging performance, if they are available. Particularly, the cost and revenue data associated with hedging would help identify evident reasons for exporters' hedging discounts in Bangladesh. Moreover, the best hedging option for maximizing the Bangladeshi firm value could be analyzed with the detailed FCD type data, such as futures, options and swaps. Further refinement of these data would improve institutional capability for substantive growth in frontier markers.

Practical implications

This paper provides practical implications for corporate managers in charge of managing foreign exchange risk in Bangladesh. First, closer accounting observation is much necessary for the firms to accurately evaluate whether the FCD usage is beneficial in their cash flows because the exporters come to have two large costs: entering foreign markets and carrying FCD program. Second, for better value from using FCDs, the exporters should learn how to utilize appropriate financial derivatives. FCD usage is beneficial when the exporters are fully aware of what their real risks are and the role of appropriate derivatives within its portfolio strategy.

Social implications

A policy reducing the costs of either foreign market entry or FCD usage would be helpful for lessening the FCD discount effect. Also, a long-term policy that enables the born-to-exporters to establish substantive positions in the home market would be helpful for enhancing the cash inflow capability, thereby causing the firm value structure to be strengthened.

Originality/value

The paper has originality because it bridges the gap in the literature. First, the authors find a new empirical result regarding the significant FCD effect on a frontier market, although the FCD effect deals with the small and secondary risk in the previous literatures. Second, finding the contrasting FCD effect between the exporters and non-exporters sheds lights on the importance of firm-specific characteristics for precisely evaluating the FCD effect on firm value. Third, we find that the significant FCD effect is prominent by condition of exchange rate movements, which has been overlooked in prior literature.

Details

International Journal of Emerging Markets, vol. 16 no. 8
Type: Research Article
ISSN: 1746-8809

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