Abstract The attraction of inward FDI in Greece is a critical condition for Greece’s economic recovery due to the prolonged economic crisis and sustained investment hardship. Consequently, this study aims to provide essential implications by examining factors that can influence foreign direct investment decisions. The findings provide new insights regarding the diachronically high importance of technological capabilities compared to other FDI determinants such as the market size, trade openness, quality of the indigenous workforce, and local infrastructure, as the main determinants of inward FDI in Greece over the period 1980–2016.
{"title":"An Investigation into the Causal Links Among FDI Determinants: Empirical Evidence from Greece*","authors":"Antonis Tsitouras, Panagiotis Mitrakos, Chrysanthi Tsimpida, Vasileios Vlachos, Aristidis P. Bitzenis","doi":"10.1080/10669868.2019.1640829","DOIUrl":"https://doi.org/10.1080/10669868.2019.1640829","url":null,"abstract":"Abstract The attraction of inward FDI in Greece is a critical condition for Greece’s economic recovery due to the prolonged economic crisis and sustained investment hardship. Consequently, this study aims to provide essential implications by examining factors that can influence foreign direct investment decisions. The findings provide new insights regarding the diachronically high importance of technological capabilities compared to other FDI determinants such as the market size, trade openness, quality of the indigenous workforce, and local infrastructure, as the main determinants of inward FDI in Greece over the period 1980–2016.","PeriodicalId":44266,"journal":{"name":"Journal of East-West Business","volume":"26 1","pages":"17 - 55"},"PeriodicalIF":1.5,"publicationDate":"2020-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/10669868.2019.1640829","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46035908","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-01-02DOI: 10.1080/10669868.2019.1689218
Allen Engle, M. Zaharie, Kinga Kerekes, József Poór
Abstract This article focuses on the roles and responsibilities of HR units in multinational enterprises (MNEs) in the region of Central and Eastern Europe. The authors analyze 705 questionnaires originating from foreign owned subsidiaries operating in five countries (Hungary, Poland, Romania, Serbia, and Slovakia). The results show that the culture of the MNEs home country, the age of the subsidiary, and the pattern of international staffing assignments influence the HR control relationship between the headquarters and the subsidiary. Also, the findings reveal a significant impact of subsidiary level factors such as the age of the subsidiary, business sector, size, mode of market entry, focus on executive human capital, and international assignments on the degree of HR practice autonomy at the subsidiary level.
{"title":"Who Is in Charge Here? Evidence of the Division of Roles and Responsibilities Between Global and Local HR Managers in MNEs Operating in the CEE Region","authors":"Allen Engle, M. Zaharie, Kinga Kerekes, József Poór","doi":"10.1080/10669868.2019.1689218","DOIUrl":"https://doi.org/10.1080/10669868.2019.1689218","url":null,"abstract":"Abstract This article focuses on the roles and responsibilities of HR units in multinational enterprises (MNEs) in the region of Central and Eastern Europe. The authors analyze 705 questionnaires originating from foreign owned subsidiaries operating in five countries (Hungary, Poland, Romania, Serbia, and Slovakia). The results show that the culture of the MNEs home country, the age of the subsidiary, and the pattern of international staffing assignments influence the HR control relationship between the headquarters and the subsidiary. Also, the findings reveal a significant impact of subsidiary level factors such as the age of the subsidiary, business sector, size, mode of market entry, focus on executive human capital, and international assignments on the degree of HR practice autonomy at the subsidiary level.","PeriodicalId":44266,"journal":{"name":"Journal of East-West Business","volume":"26 1","pages":"107 - 81"},"PeriodicalIF":1.5,"publicationDate":"2020-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/10669868.2019.1689218","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48034404","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-06-26DOI: 10.1080/10669868.2019.1624672
T. Manolova, L. Edelman, Galina Shirokova, T. Tsukanova
Abstract Institutional voids plague entrepreneurship in emerging economies. In this paper, we investigate how the social structure of the family can enable young entrepreneurs to navigate the institutional voids and progress through the venturing process. Findings suggest that both institutional voids and family support have a significant effect on startup activities, and that family financial support helps absorb the negative influence of capital market voids. Our study begins to explain the relationship between institutional voids and family support, thereby contributing to the ongoing development of institutional theory in an emerging economy context and to the literature on family influences on entrepreneurship.
{"title":"Youth entrepreneurship in emerging economies: can family support help navigate institutional voids?","authors":"T. Manolova, L. Edelman, Galina Shirokova, T. Tsukanova","doi":"10.1080/10669868.2019.1624672","DOIUrl":"https://doi.org/10.1080/10669868.2019.1624672","url":null,"abstract":"Abstract Institutional voids plague entrepreneurship in emerging economies. In this paper, we investigate how the social structure of the family can enable young entrepreneurs to navigate the institutional voids and progress through the venturing process. Findings suggest that both institutional voids and family support have a significant effect on startup activities, and that family financial support helps absorb the negative influence of capital market voids. Our study begins to explain the relationship between institutional voids and family support, thereby contributing to the ongoing development of institutional theory in an emerging economy context and to the literature on family influences on entrepreneurship.","PeriodicalId":44266,"journal":{"name":"Journal of East-West Business","volume":"25 1","pages":"363 - 395"},"PeriodicalIF":1.5,"publicationDate":"2019-06-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/10669868.2019.1624672","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45546591","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Abstract Greece has suffered the worst from the late 2000s global financial crisis. Despite the completion of the economic adjustment program the rate of recovery in Greece is still weak. The liquidity constraints in the Greek economy imply that the investment shock, which will accelerate its recovery rate, will be an outcome of investment inflows by privatizations and/or other opportunities arising to foreign investors (inward FDI) due to the devaluation of the assets in Greece caused by the crisis. However, the level of attracted by the Greek economy has always been well below the European Union average. This paper investigates the factors favoring inward FDI in Greece after the crisis. A survey is made by the use of a questionnaire for the collection of primary data on the activity of multinationals in Greece and non-parametric methods are used for investigating the attractiveness of the Greek market and the decision to invest.
{"title":"Factors Favoring Greece’s Inward Foreign Direct Investment in the Aftermath of the Global Financial Crisis: An Exploratory Survey","authors":"Vasileios Vlachos, Panagiotis Mitrakos, Chrysanthi Tsimpida, Antonis Tsitouras, Aristidis P. Bitzenis","doi":"10.1080/10669868.2019.1616647","DOIUrl":"https://doi.org/10.1080/10669868.2019.1616647","url":null,"abstract":"Abstract Greece has suffered the worst from the late 2000s global financial crisis. Despite the completion of the economic adjustment program the rate of recovery in Greece is still weak. The liquidity constraints in the Greek economy imply that the investment shock, which will accelerate its recovery rate, will be an outcome of investment inflows by privatizations and/or other opportunities arising to foreign investors (inward FDI) due to the devaluation of the assets in Greece caused by the crisis. However, the level of attracted by the Greek economy has always been well below the European Union average. This paper investigates the factors favoring inward FDI in Greece after the crisis. A survey is made by the use of a questionnaire for the collection of primary data on the activity of multinationals in Greece and non-parametric methods are used for investigating the attractiveness of the Greek market and the decision to invest.","PeriodicalId":44266,"journal":{"name":"Journal of East-West Business","volume":"25 1","pages":"262 - 292"},"PeriodicalIF":1.5,"publicationDate":"2019-05-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/10669868.2019.1616647","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45982140","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-05-27DOI: 10.1080/10669868.2019.1616648
M. Jaworek, Małgorzata Szałucka, W. Karaszewski
Abstract Limiting factors of foreign direct investment are of great significance for managers, governments, and scholars as they directly influence the profitability of a foreign subsidiary and a parent multinational company. The aim of the paper is to identify FDI limiting factors of host country location choices among Polish enterprises and differences in the perception of the factors depending on the establishment mode choice, i.e. whether it is through greenfield investments or acquisitions. The paper presents results of a field surveyed carried out in 2012–2013 among Polish companies. The research results revealed that regardless of the establishment mode choice, investors from Poland perceived market-related limiting factors as significant. The empirical findings also proved that there were no significant differences in the perception of the importance of FDI limiting factors, between investors who undertook acquisitions and those who decided to make greenfield investments. However, single cases of differences were identified at the level of the policy framework-related factors.
{"title":"Limiting Factors of Foreign Direct Investment Undertaken By Polish Enterprises","authors":"M. Jaworek, Małgorzata Szałucka, W. Karaszewski","doi":"10.1080/10669868.2019.1616648","DOIUrl":"https://doi.org/10.1080/10669868.2019.1616648","url":null,"abstract":"Abstract Limiting factors of foreign direct investment are of great significance for managers, governments, and scholars as they directly influence the profitability of a foreign subsidiary and a parent multinational company. The aim of the paper is to identify FDI limiting factors of host country location choices among Polish enterprises and differences in the perception of the factors depending on the establishment mode choice, i.e. whether it is through greenfield investments or acquisitions. The paper presents results of a field surveyed carried out in 2012–2013 among Polish companies. The research results revealed that regardless of the establishment mode choice, investors from Poland perceived market-related limiting factors as significant. The empirical findings also proved that there were no significant differences in the perception of the importance of FDI limiting factors, between investors who undertook acquisitions and those who decided to make greenfield investments. However, single cases of differences were identified at the level of the policy framework-related factors.","PeriodicalId":44266,"journal":{"name":"Journal of East-West Business","volume":"25 1","pages":"293 - 317"},"PeriodicalIF":1.5,"publicationDate":"2019-05-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/10669868.2019.1616648","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44059221","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-05-09DOI: 10.1080/10669868.2019.1602575
R. Pradhan, J. Hall, Atul Gupta, Y. Nishigaki, F. Filho, E. D. Toit
Abstract This paper uses country-level data of European Economic Area countries between 1989 and 2016 to examine the interactions between economic growth, innovation, and financial market activities, with specific reference to the bond and insurance markets. Our intent is to know whether causality runs among these variables both ways, or not at all. Using a vector error correction model, the study finds that financial market activities and economic growth determine innovation activities in these countries. Additionally, the study also finds bidirectional Granger causality between financial market activities and economic growth, as well as between innovation activities and economic growth.
{"title":"A Quantitative Assessment of the Finance–Growth–Innovation Nexus in EEA Countries: Evidence from a Multivariate VECM","authors":"R. Pradhan, J. Hall, Atul Gupta, Y. Nishigaki, F. Filho, E. D. Toit","doi":"10.1080/10669868.2019.1602575","DOIUrl":"https://doi.org/10.1080/10669868.2019.1602575","url":null,"abstract":"Abstract This paper uses country-level data of European Economic Area countries between 1989 and 2016 to examine the interactions between economic growth, innovation, and financial market activities, with specific reference to the bond and insurance markets. Our intent is to know whether causality runs among these variables both ways, or not at all. Using a vector error correction model, the study finds that financial market activities and economic growth determine innovation activities in these countries. Additionally, the study also finds bidirectional Granger causality between financial market activities and economic growth, as well as between innovation activities and economic growth.","PeriodicalId":44266,"journal":{"name":"Journal of East-West Business","volume":"25 1","pages":"225 - 261"},"PeriodicalIF":1.5,"publicationDate":"2019-05-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/10669868.2019.1602575","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48007387","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-04-03DOI: 10.1080/10669868.2018.1524403
Desalegn Abraha Gebrekidan, Le Hieu Hoc, Syeda-Masooda Mukhtar
Abstract Factors influencing firms’ standardization and adaptations decisions tend to be treated as static isolated entities in the extant literature. Further, the focus is predominantly on Western MNCs and product development or marketing functions with manufacturing firms and the emerging/developing country perspective underrepresented. We explore factors, as well as their interrelations that determine standardization and adaptations decisions when a developed country manufacturing firm establishes operations in a developing country. Purposefully, Italian manufacturing firms with operations in Vietnam are examined. We identify functions, processes, and practices that are standardized/transferred and those that are adapted. A theoretical model is developed based on the findings.
{"title":"How Developed-Country Firms Make Standardization/Transfer and Adaptations Decisions in Relation to their Developing-Host-Country Operations?","authors":"Desalegn Abraha Gebrekidan, Le Hieu Hoc, Syeda-Masooda Mukhtar","doi":"10.1080/10669868.2018.1524403","DOIUrl":"https://doi.org/10.1080/10669868.2018.1524403","url":null,"abstract":"Abstract Factors influencing firms’ standardization and adaptations decisions tend to be treated as static isolated entities in the extant literature. Further, the focus is predominantly on Western MNCs and product development or marketing functions with manufacturing firms and the emerging/developing country perspective underrepresented. We explore factors, as well as their interrelations that determine standardization and adaptations decisions when a developed country manufacturing firm establishes operations in a developing country. Purposefully, Italian manufacturing firms with operations in Vietnam are examined. We identify functions, processes, and practices that are standardized/transferred and those that are adapted. A theoretical model is developed based on the findings.","PeriodicalId":44266,"journal":{"name":"Journal of East-West Business","volume":"25 1","pages":"107 - 143"},"PeriodicalIF":1.5,"publicationDate":"2019-04-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/10669868.2018.1524403","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43892612","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-02-08DOI: 10.1080/10669868.2018.1548405
T. Tsukanova, Xiaotian Zhang
Abstract By synthesizing several theoretical perspectives, we explore the determinants of early and rapid internationalization of firms from China as an example of an emerging economy. Specifically, we examine the symbiosis of foreign knowledge, networks, and government support and their impact on the emergence of born globals (BGs). We use the dataset covering 368 Chinese exporting SMEs. The results provide new insights regarding the nature of their strategic behavior and shed light on the reasons for heterogeneity among exporters.
{"title":"Early and Rapid Internationalization of Firms from Emerging Economies: Understanding the Heterogeneity of Chinese Exporters","authors":"T. Tsukanova, Xiaotian Zhang","doi":"10.1080/10669868.2018.1548405","DOIUrl":"https://doi.org/10.1080/10669868.2018.1548405","url":null,"abstract":"Abstract By synthesizing several theoretical perspectives, we explore the determinants of early and rapid internationalization of firms from China as an example of an emerging economy. Specifically, we examine the symbiosis of foreign knowledge, networks, and government support and their impact on the emergence of born globals (BGs). We use the dataset covering 368 Chinese exporting SMEs. The results provide new insights regarding the nature of their strategic behavior and shed light on the reasons for heterogeneity among exporters.","PeriodicalId":44266,"journal":{"name":"Journal of East-West Business","volume":"25 1","pages":"194 - 224"},"PeriodicalIF":1.5,"publicationDate":"2019-02-08","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/10669868.2018.1548405","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44798735","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-01-20DOI: 10.1080/10669868.2018.1536013
Y. Jeong, Murad Ali, R. Zacca, Kichan Park
Abstract Scholars have recognized the important role that entrepreneurial orientation (EO) plays in driving firm performance. However, this relationship is not yet well understood and studies have sought to examine various contingencies that might mediate or moderate this relationship. This study investigates the impact of organization behavior variables on the EO – firm performance relationship. The structural model was tested using primary data from 321 South Korean industrial firms. The results show that EO is positively related to firm performance and that adaptive organizational culture and people-centered management have a multiple mediating effect on the relationship between EO and firm performance.
{"title":"The Effect of Entrepreneurship Orientation on Firm Performance: A Multiple Mediation Model","authors":"Y. Jeong, Murad Ali, R. Zacca, Kichan Park","doi":"10.1080/10669868.2018.1536013","DOIUrl":"https://doi.org/10.1080/10669868.2018.1536013","url":null,"abstract":"Abstract Scholars have recognized the important role that entrepreneurial orientation (EO) plays in driving firm performance. However, this relationship is not yet well understood and studies have sought to examine various contingencies that might mediate or moderate this relationship. This study investigates the impact of organization behavior variables on the EO – firm performance relationship. The structural model was tested using primary data from 321 South Korean industrial firms. The results show that EO is positively related to firm performance and that adaptive organizational culture and people-centered management have a multiple mediating effect on the relationship between EO and firm performance.","PeriodicalId":44266,"journal":{"name":"Journal of East-West Business","volume":"25 1","pages":"166 - 193"},"PeriodicalIF":1.5,"publicationDate":"2019-01-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/10669868.2018.1536013","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42571533","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-01-02DOI: 10.1080/10669868.2018.1561589
S. Rogers
Abstract Since 2010, Hungarian political agency has become more dominant in determining economic outcomes, rendering the increase in Chinese FDI into Hungary more politically-induced, rather than market-driven making Sino-Hungarian economic relations more important than before Fidesz returned to government. Approaches to understanding Hungarian capitalism have been overly firm-focused and therefore cannot account for (a) politically-motivated decisions on FDI or (b) increasingly significant transnational capital flows from China, both of which have the potential to affect the trajectory of Hungarian economic development. This article investigates the Belgrade-Budapest railway upgrade, the largest infrastructure project funded by Chinese FDI.
{"title":"China, Hungary, and the Belgrade-Budapest Railway Upgrade: New Politically-Induced Dimensions of FDI and the Trajectory of Hungarian Economic Development","authors":"S. Rogers","doi":"10.1080/10669868.2018.1561589","DOIUrl":"https://doi.org/10.1080/10669868.2018.1561589","url":null,"abstract":"Abstract Since 2010, Hungarian political agency has become more dominant in determining economic outcomes, rendering the increase in Chinese FDI into Hungary more politically-induced, rather than market-driven making Sino-Hungarian economic relations more important than before Fidesz returned to government. Approaches to understanding Hungarian capitalism have been overly firm-focused and therefore cannot account for (a) politically-motivated decisions on FDI or (b) increasingly significant transnational capital flows from China, both of which have the potential to affect the trajectory of Hungarian economic development. This article investigates the Belgrade-Budapest railway upgrade, the largest infrastructure project funded by Chinese FDI.","PeriodicalId":44266,"journal":{"name":"Journal of East-West Business","volume":"25 1","pages":"106 - 84"},"PeriodicalIF":1.5,"publicationDate":"2019-01-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1080/10669868.2018.1561589","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42607811","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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