Thus, liberalism is based on the fundamental universal ethics and is respectful of the individual conceptions of personal ethics. This means that it is important to determine in which cases property rights are legal.
Institutions, culture and FDI: conceptual framework and literature review
- Institutions: what they are and why they are important?
- Culture and its relevance for understanding institutions-FDI nexus
- What role for culture in attracting FDI
- Review of empirical literature on the impact of Hofstede cultural factors on FDI
More precisely, the dichotomy in the words of [2] implies a clear conceptual distinction between institutions and organizations as follows; institutions determine the 'rules' of the game and organizations are the 'players' by whom the game is played. Basically, the influence of cultural factors turns out to be more important than the influence of formal institutions.
Empirical analysis 1 Model and data issues
Methodology
To account for the panel structure of the data, we use bilateral fixed effects (FE) and random effects (RE) estimations. Tables 4 and 5 report the results of the econometric analysis of the model specifications presented above.
Conclusion
60]Ferraro GP. The cultural dimension of international business (dissertation, Univerza v Mariboru, Ekonomsko-poslovna fakulteta). The impact of trade openness on foreign direct investment (FDI) inflows in emerging market economies (dissertation, University of the Western Cape).
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Introduction
The blatant disregard for history has led to man's inability to predetermine events and procedures, causing man to continue to repeat his mistakes and suffer avoidable pain [1]. The blatant disregard for history has led to man's inability to predetermine events and procedures, causing man to continue to repeat his mistakes and suffer avoidable pain [1].
Lessons from history
- Sustainable industrialization and development
The passage of the Embargo Act in 1807 and the War of 1812 were the real impetus for America's entry into the Industrial Revolution. The value of a "learning person" is valued in connection with the intensity and time of learning [12].
Science, technology policy and modeling
The accumulation of competences continues as long as the learner is learning. This is from "learning by doing" and "learning by adaptation" to "learning by design" and "learning by improved design" and then to "learning by establishing a complete production system". [24].
Models for industrialization
- The creed (model 1)
- Sustainable industrialization initiators (model 2)
- Three true measures of sustainable economic development (model 3) From history we can deduce that there are three true measures of sustainable
- The manpower learning model (model 4)
- Development flow chart (model 5)
- Industrialization based entrepreneurs (model 6)
Being ready for industrialization depends on the effectiveness of the components within the industrial core. Education helps build the technical, interpersonal or human and conceptual skills of the workforce.
Conclusions
The producer determines how much the entrepreneur will sell and the time, quality and quantity of the goods he will sell. Of the three forms, efficiency is the most debated weak form [2, 3], note that a violation of this least restricted form of the Efficient Market Hypothesis (EMH) is equivalent to a violation of other forms of the EMH.
Empirical studies on weak-form EMH
- Linear empirical studies from developed and emerging markets
- Linear empirical studies from African markets
- Non-linear empirical studies from developed and emerging markets
- Non-linear empirical studies from African markets
The presence of non-linear dependence has been reported; therefore, they concluded that the JSE is highly chaotic. The result of the BDS test showed that non-linear dependency is inherent in the stock return series and that the weak efficiency of the market should be rejected.
Empirical studies on calendar anomaly
- Calendar anomaly from developed and emerging markets
- Calendar anomaly from African markets
The results showed that the January effect exists in the post-crisis period, the weekend and holiday effects disappear in the post-crisis period, while the month change effect is present in both periods. The study rejected the effects of DOW and January on the US stock market, but cannot reject the presence of the anomaly of the part of the month.
Empirical studies on AMH
- Time varying efficiency studies
- Return predictability and market condition studies
- Time-varying calendar anomalies studies
- Calendar anomalies and market condition studies
- Gap in AMH empirical studies
Further, Urquhart and McGroarty [167] also showed in the US that the behavior of Monday, January, Halloween, and TOM calendar anomalies changes over time using rolling window estimation for the S&P 500 index. Consistent with the reasoning, Agnani and Aray [173] applied two switching state Markov models (MSM) and documented the effect of January on US time variation.
Summary and concluding remarks
The day-of-the-week effect in emerging Asian stock markets: evidence from the GARCH model. The adaptive market hypothesis and the day-of-the-week effect in African stock markets: The Markov switching model.
Reactions of a stateless society
Simply knowing this, in our current world, the unified response of many governments to a viral outbreak is bound to either overdo or underdo it in preventing transmission between pockets of individuals in society. This is not surprising, as entrepreneurs must constantly adapt and meet the changing demands, needs, tastes and preferences of customers and other stakeholders, even in the period of fear of infection.
Who cares for the workers?
The unhealthy health-care industry
Regulations stifle the innovation and risk-taking that is essential even in healthcare. In the latter regime, the state removes available resources from the economy and competes unfairly with private health care providers by undercutting the price of private suppliers.
The research question and methods of work The main research question in this research is
On the other hand, there is often untapped labor force potential in a country because many women are not part of the labor force. Therefore, the increase in women's economic activity is necessary to enable human development and long-term economic growth.
Economic development
- Modern economic growth theories
- Human development
- Gender and development
If executed correctly, it can increase the country's output and efficiency in the long run. There are other forms of measurement that are more adequate in measuring human development.
Female labor force participation (FLFP)
- Level of development
- Cultural aspects
- Policies
- Education
However, employment rates do not take into account factors such as productivity and discrimination in the labor market [6]. The level of education determines women's wages; in other words, their value in the labor market.
Conclusion
A country must create development within its economy and promote its human capital in the long term. Therefore, the authors examined only primary, secondary and tertiary levels of education in the course of analyzing the influence that education has on the rate of female labor force participation.
Digital economy
Proof-of-work is a distributed consensus algorithm that Bitcoin's blockchain network participants use to agree on the contents of a blockchain to create and hash blocks together. Proof of Work and Proof of Stake are the leading consensus algorithms used.
Blockchain implementations in business
When the computer in a network uses proof-of-work for mining, it must solve a challenging mathematical problem. Still, there are nearly 80 other consensus mechanisms with different features such as proof-of-space, proof-of-burn, and proof-of-activity.
Literature on digitalization and growth nexus
44] investigate the impact of digitization on the growth of labor productivity in the Turkish manufacturing industry for the period 2003–2012. They report that the impact of digitization on productivity is about 25 to 50% greater than that of conventional capital.
A focus on Turkey
The medium-term goal is to improve technological infrastructure and processes in order to benefit more from digitization to improve government services [48]. Aktif Bank, a major investment bank in Turkey, has engaged Attiva Bilisim to invest in the crypto asset service industry.
Conclusion
In India, different political regimes have introduced different policies for the economic and social development of the nation. The paper explores the impacts of demonetisation on MSMEs which proved harmful and adversely affected people's lives, thus bringing about its downfall in the country.
Hindutva politics and its economic policies
The paper focuses on the demonetization policy that was imposed on the people of the country on November 8, 2016, where in the BJP government demonetized the 500 and 1000 bank notes. Cash shortages in the economy due to demonetisation have devastated the informal economy to which many of the MSMEs belong.
Overview of MSME economy in India
Demonetization in the short term reduced demand and hampered production, especially in the informal sector that conducts transactions mainly in cash [5, 6]. It ended up disrupting the delicate balance of trust in the informal economy and turmoil in the economy, resulting in distrust of the government and its institutions.
Relationship between business and Hindutva politics in India
Similarly, the introduction of the Goods and Services Tax has once again proven to be unfavorable and detrimental to businesses in the informal sector. The Modi government's strategy in the name of economic reforms appears to be to cut subsidies, increase regressive taxes and capital expenditure, and privatize public sector banks and state-owned enterprises such as Indian Railways [2].
Hindutva and decline of MSMEs in India
The author cites an example that “those who voted exclusively or mainly for “development” for Modi expect access to infrastructure and a better quality of life, those who see him as a muscular “Hindutva” leader expect him to promote traditional conservative religious values along the lines of “make India a Hindu nation”, the “business” interests expect him to be a deregulatory free market reformer. The 2016–2017 economic survey explains that “National income accounts estimate informal activity based on formal sector indicators, which have not suffered to the same extent [34].
Containerized transport in Asian harbors
Regarding Vietnam, in terms of shipping, two of the main Vietnamese ports are Ho Chi Minh City, which is located in southern Vietnam, and Hai Phong in the north. Container volume at the port of Hai Phong was 4.76 million TEU (source: JOC).
Vietnam accessing the global trade scenario
With the support of the Asian Development Bank (ADB), Vietnam and China, along with four other Asian countries that share the Mekong River (Cambodia, Laos, Myanmar, and Thailand), implemented the GMS to facilitate trade and regional cooperation, as well as stimulate investment in agriculture, energy, and infrastructure [9]. Three years later, Vietnam was also included in the Asia-Pacific Economic Cooperation (APEC) regional economic forum.
The impressive growth of Vietnamese economy
A sign of a restored stability in the Indochinese region was the launch of the Greater Mekong Subregion (GMS) economic cooperation program in 1992. Since the late 1990s, mainly after the Asian financial crisis, which started in Thailand in 1997, Vietnam has invested in high-tech IZs [12].
The World Customs Organization and customs procedures simplification
The fourth core element of the SAFE Framework emphasizes the importance of providing tangible benefits to those businesses and economic operators that are able to comply with supply chain security standards and best practices. Clearing goods before vessels enter port improves the efficiency of the international supply chains and reduces the storage time of containers.
An overview of the AEO
Specifically, demurrage charges are imposed by shipping lines on importers when containers are stored at the port terminal without meeting the deadline indicated by the shipping lines. On this subject, the first paragraph of Article 7 of the WTO Trade Facilitation Agreement (TFA), also known as the Bali Package, emphasizes the need to implement pre-clearance, stating that "each member shall adopt or maintain procedures that allow the submission of import documentation and other required information, including manifests, in order to begin the processing of the goods after the arrival of the goods before their arrival". To implement the TFA, developing and least developed countries (LDCs) are supported by the WTO Grants and Assistance Program for Trade Facilitation Agreements (TFAF) [19].
The AEO in Vietnam and in the EU
In the framework of the development of the status of an authorized economic entity in Vietnam, Article 42 of Law 54 of 2014, Article 10 of Decree No. However, although Article 83 of the Treaty on the Functioning of the EU (TFEU) attempts to regulate the issue of finding a uniform definition of criminal offenses and sanctions within the EU, the penalties in each Member State may be different due to the inconsistency of national criminal laws and the absence of synchronized criminalization regimes in the EU [23].
A conclusive analysis: The EU-Vietnam Free Trade Agreement
It is worth noting that as far as criminal proceedings are concerned, Article 42 of the EU Customs Code states that. With regard to customs-related operational facilitation and the simplification of customs procedures, the first paragraph of Article 4.1 of the EVFTA states that “the parties recognize the importance of customs and trade facilitation matters in the evolving global trade environment.
International context
This chapter presents an overview of the economic impact in Chile caused by Covid -19, the evolution of the Chilean economy in a compact and direct view. This research is motivated by the interest in obtaining a better knowledge of the economic and social situation in Chile in times of pandemic.
Economic situation in Chile
Fuel imports accounted for 14.4% of total revenues, highlighting the -46.1% drop in crude oil purchases [5]. In relation to these variations, there is an increase in the purchase of generators and maize for consumption [5].
Public policies
Copper within mining products represents 41.1% of the total, reaching a variation of -2.5%, equivalent to US $185 million. In April 2020, the budget office announced that due to the economic measures adopted by the pandemic, the effective deficit will reach 9.6% of GDP and a structural deficit of 3.5%.
Employment
A capitalization of the Guarantee Fund for Small Entrepreneurs of 3 billion dollars has been ordered with the objective of guaranteed borrowing. The seriousness of the health crisis can be expressed more clearly in that the total number of effective working hours fell by 32% in twelve months.
Monetary policies
According to the figures for the April-June 2020 quarter (Nacional Institute Statistic), the employment rate has decreased by 20% compared to the same period of the previous year, which means that 1.78 million jobs have been lost in 12 months; Workers reached 7.14 million people in April-June as opposed to 9.12 million in the November-January 2019 mobile quarter [7]. The average number of hours worked was 32.4 hours per week, far from the statutory 45 hours in paid employment [7].
Economic outlook
Overall, expectations continue to predict that the recovery will be gradual in the remainder of the year, although this is directly related to health indicators and their improvement, there is optimism as statistics show figures below 2000 cases of Covid-19 per day, this trend indicates that it is very likely that the government will continue to relax the measures taken. Finally, it is important to note that the price of copper continues to rise, surpassing $3 per pound, however, although production in China may continue to boost the price of copper, there is also a major downside risk considering the potential slowdown in the pace of the global recovery due to the fact that stimulus measures begin to expire in some of the international consumer economies.
Political situation
For its part, the IMF adjusted its projection for Chile in June 2020 and estimated a 7.5% drop in GDP, an estimate similar to the worst-case scenario predicted by the Ministry of Finance in Chile. It is important to note that in May, the International Monetary Fund approved a flexible credit line for the Central Bank of Chile in the amount of almost $20 billion, aimed at ensuring currency liquidity in the event of a more complex crisis.
Conclusions
We found that cross-border mergers and acquisitions significantly improve home-country competitive advantage. 1. Can cross-border mergers and acquisitions improve the non-location-bound competitive advantages of Chinese ICT firms.
Theoretical background
- Cross-border M&As and competitive advantage enhancement
- Internationalisation experience and M&A competitive advantage effect EMNEs face the challenges posed by their ‘liability of emergingness’ and are often
- State ownership and M&A competitive advantage effect
Cross-border M&A effectively promotes the improvement of home country-bound and non-country-bound competitive advantages. State ownership moderates the impact of cross-border M&A on home country-specific and non-location-specific competitive advantages.
Methods
- Empirical model
In terms of the home country competitive advantage (the non-location competitive advantage is calculated in a similar way), whether the cross-period changes in cross-border M&A are. The actual impact of cross-border mergers and acquisitions on the competitive advantage of the home country is therefore δ:.
Measures
- Dependent variables
- Independent variable
- Moderators
- Control variables
If the sample firm's approval time lagged behind the observation period or the difference was less than zero, a value of 0 was assigned to internationalization experience. Firm heterogeneity was controlled through capital density (Capital), firm size (Size), R&D investment (R&D) and marketing expenditure (Market), where Capital was expressed as the natural logarithm of the ratio of net fixed assets and.
Results
- Instantaneous competitive advantage effect of cross-border M&As
- Long-run competitive advantage effect of cross-border M&As
- Path analysis of the M&A competitive advantage effect
- Internationalisation experience and M&A competitive advantage effect Hypothesis 2 was tested by splitting the sample into two groups based on
- State ownership and the M&A competitive advantage effect
- Robustness test
Although the coefficient's value is small, it shows that internationally experienced firms promote their non-locational competitive advantage through cross-border mergers and acquisitions. Moreover, when considering both state-owned and non-SOEs, cross-border F&As do not significantly promote non-locational competitive advantage.
Discussion and conclusions
- Theoretical implications
- Management implications
Our findings have important practical implications for cross-border M&A by Chinese ICT firms. Currently, cross-border mergers and acquisitions have not improved the competitive advantage of China's non-location-bound ICT companies.
Some conceptual clarifications
We will deal with the problem of the existence of capitalism in self-governing Yugoslavia only through selected examples. Socialism thus implies a deep-rooted political-economic transformation: that was also the intention of the Yugoslav communists.
Ideological fundamentals throughout the history
Self-government in the context of "commodified production" aimed to establish an efficient and fair use of capital - but always without capitalism. We can understand social ownership as a critique of private and group ownership in the sense that social ownership is inclusive in relation to the exclusivity of the mentioned forms of ownership.
