Transnational Corporations Review最新文献

This study aims to explore empirical relationship between foreign financial support and corporate research and development investments. The statistical analysis is based upon 14 years (2006–2019) financial data of non-financial sector enterprises. We use GLS (generalized least square) and 2-step system GMM (generalized method of moments) to establish the regression among variables. The empirical findings show that FDI inflow, official aid, and remittances have a positive and statistically significant relationship while foreign trade has an inverse relationship with corporate-level R&D activities. Foreign financial support enhances the financial reserves of the government and allows to disburse of more subsidies for R&D activities. Conversely, foreign trade can reduce R&D activities by inducing unfavorable competition which further hampers innovative behavior of corporate managers. The empirical analysis suggests that government officials should do more focus on enhancing foreign financial support to accelerate the development culture in the country.

Foreign firms face a liability of foreignness (LOF) in capital markets outside their home countries. Focusing on discrimination hazards as an antecedent to capital market liability of foreignness (CMLOF), we extend the concept of country-of-origin stereotypes to capture discrimination hazards in capital markets. We employ data from foreign firms listed on the three major stock exchanges in the United States from 2002 to 2016 to demonstrate that, compared with domestic US firms, foreign firms are discounted on major stock exchanges in the US and that foreign firms from countries stereotyped as high-warmth and high-competence are not discounted. Our results reveal that discrimination hazards do impact CMLOFs, suggesting that firms venturing into foreign capital markets should invest in perceptions of warmth to mitigate CMLOFs.

This study investigated the influence of market environment, cultural distance, government policy, and absorptive capacity on international intra-firm technology transfer and organizational sustainability performance among subsidiaries of foreign-based multinational corporations (MNCs) in Malaysia. Quantitative data was collected from randomly selected 252 MNC-Subsidiaries in Malaysia. Data analysis revealed that market environment, determined by market dynamism and competitors' intensity; cultural distance determined by national and organizational cultural distance; along with absorptive capacity, captured by the constructs of ability and motivation have a significant positive effect on intra-firm technology transfer. The study also revealed a significant positive influence of intra-firm technology transfer on organizational sustainability performance across the sample. Furthermore, the results showed a significant indirect effect of market environment, cultural distance, and absorptive capacity on sustainability performance through (mediation) intra-firm technology transfer. The results of this study could serve as a specific reference for policymakers of rapidly emerging economies in order to strengthen policies for a more dynamic, competitive, market and support their citizens to acquire relevant education, skills, and cultural awareness that would enhance technological inflows leading towards improved organizational sustainability.

This study proposes a research agenda on financial inclusion (FI) in developing countries based on a synthesis of the literature using a combination of structured literature review and bibliometrics. The analysis is based on 183 peer-reviewed journal articles extracted from Scopus. We found that the literature can be organized into four broad themes: (1) conceptualization and impacts of FI, (2) user perceptions and adoption, (3) role of financial innovation and private sector financial institutions, and (4) role of public institutions and public policy in FI. Further, the literature is dominated by empirical studies with little theory-focused studies. The literature is fragmented, and the evidence is mixed and contested. The social implications of FI need to be studied within specific institutional contexts and care must be exercised when applying successful models from one context to the next. The research agenda is informed by a proposed conceptual model, labelled the financial inclusion diamond.

This paper investigates the heterogeneous effect of sector-level foreign direct investment on carbon dioxide (CO₂) emissions in 36 sampled SSA countries from 1990 to 2016. By using the system GMM estimation technique, the study reveals that industry FDI increases CO₂ emissions validating the pollution haven hypothesis while Agric FDI and service FDI reduce CO₂ emissions. In general, a U shape hypothesis holds for Agric FDI and CO₂ emissions, but an inverted U shape for industry FDI and Industry CO₂ emissions and a linear and negative relationship between services FDI and services CO₂ emissions. Thus, there is a need to evaluate the environmental cost of investment in the industrial sector before granting foreign investors a permit to operate. In addition, there should be specific policies to attract FDI into the agriculture and services sectors to benefit from the positive spillover effect of transfers of cleaner technology.

FDI inflows and poverty reduction nexus has been an ongoing global debate in the recent times. Against this backdrop, this study examined the relationship between FDI inflows and poverty reduction in this economic bloc between 1990 and 2019. Data was collected from UNCTAD and WDI respectively, and a Panel Error Correction Model and the Pairwise Dumitrescu Hurlin Panel Causality tests were respectively employed. The following findings originated from the study; firstly, the relationship between FDI inflows and human development was negative and significant in the short run. In the long run, the reverse was the case. Therefore, the study concluded that FDI inflows have a trickle-down effect on poverty reduction in BRICS countries only in the long run. Therefore, it was recommended that for the policymakers in BRICS countries to achieve the Sustainable Development Goal (SDG 1), policy that will propel massive inflows of FDI into BRICS economies should be explored.

The paper investigates the effect of geopolitical risks in the Russian Federation on foreign direct investment (FDI) from antagonizing countries in light of the Ukrainian crisis. Using the Geopolitical Risk Index (GPR), the empirical analysis works on panel data on inward FDI from 90 countries from 2007 to 2020. The estimation method of RWLS concluded that rising GPR deters flows and stocks of FDI coming from antagonizing countries, which confirms that interstate relations and geopolitical factors impact the location decision of transnational corporations. On a sectoral level, we found a negative effect in the secondary and tertiary sectors, with a greater effect in the secondary one, which indicates that vertical FDI is more sensitive to geopolitical risks than horizontal ones. However, the impact of GPR on inward FDI in the primary sector is positive, which indicates that antagonizing countries seek to control energy and mining sectors in the Russian federation during geopolitical tension.

Standards are the cornerstone of digital trade; however, the ideal method of governance of digital trade networks using technical standards remains underexplored. This study establishes a theoretical framework by investigating the effect of technical standards on a digital trade network and exploring the policy implications of technical-standards-based hierarchical governance. The findings reveal the heterogeneous patterns of digital trade networks and their governance characteristics. Furthermore, international, regional, and national technical standards are integral to the hierarchical governance of digital trade networks. Digital trade flow diffuses through a digital trade network, wherein technical standards have different levels of compatibility and security, and digital-trading countries make trade-offs. The results highlight that digital-trading countries need to explicitly incorporate the compatibility and security of technical standards into trade agreements, promote the harmonization of digital standards, and advance international cooperation to guarantee the flow of digital trade and reap its benefits.

This paper provides insights on how business climate affect global value chains (GVC) participation in the panel of African nations. The study explores country-level data spanning over a period of 2006–2018. Using the novel method of moments (MM)-Quantile regression, system generalized methods of moments (SYSGMM) and Panel spatial consistent correlation (PSCC) techniques, the study finds that all aspects of business environment have significant impacts on GVC participation in Africa. In specific, information and communication facilities, getting electricity, getting credit, trading across border, enforcing contract, protecting investors and business start-up registration have positive and significant impact on GVC. We also discover that tariff reduces GVC participation while strong political institutions enhance participation. The study concludes that business environment factors are fundamental to ensure high level of GVC participation. Political institutional framework needs to be strengthened to further encourage GVC participation in Africa.