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Sailing through the storm – performance of Russian manufacturing subsidiaries of multinational corporations in the first year of the COVID-19 pandemic 在风暴中航行——跨国公司俄罗斯制造子公司在新冠肺炎大流行第一年的表现
IF 2.2 3区 经济学 Q2 ECONOMICS Pub Date : 2022-08-12 DOI: 10.1080/14631377.2022.2104503
I. Gurkov, N. Filinov
ABSTRACT The aim of this study is to depict the performance of Russian manufacturing subsidiaries of multinational corporations during the first year of the COVID-19 pandemic. Using a unique handcrafted database of financial reports from 259 subsidiaries for 2019 and 2020, we retraced three indicators of business robustness: the dynamics of revenues, positive profitability, and the level of financial solvency. Most of the studied subsidiaries (85%) were able to withstand the crisis and maintain satisfactory financial solvency. Revenues decreased in 2020 to 40% of the studied subsidiaries, and the share of loss-making subsidiaries reached 31%. However, more than 40% of the studied subsidiaries achieved both an increase in revenues and positive profitability of sales in 2020. In this respect we may assess the level of ‘ownership advantage’ of multinational corporations regarding assisting their subsidiaries to achieve different elements of business robustness during the pandemic.
本研究的目的是描述跨国公司的俄罗斯制造子公司在2019冠状病毒病大流行的第一年的表现。利用2019年和2020年259家子公司财务报告的独特手工数据库,我们追溯了业务稳健性的三个指标:收入动态、正盈利能力和财务偿付能力水平。大多数被研究的子公司(85%)能够抵御危机并保持令人满意的财务偿付能力。到2020年,营收下降到所研究子公司的40%,亏损子公司的份额达到31%。然而,超过40%的被研究子公司在2020年实现了收入增长和正的销售盈利能力。在这方面,我们可以评估跨国公司在协助其子公司在大流行病期间实现业务稳健性的不同要素方面的“所有权优势”水平。
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引用次数: 1
Differences and similarities between key drivers of youth and senior starting entrepreneurs in Central and Eastern European countries 中欧和东欧国家青年创业者和高级创业者的主要驱动因素之间的差异和相似性
IF 2.2 3区 经济学 Q2 ECONOMICS Pub Date : 2022-06-12 DOI: 10.1080/14631377.2022.2079058
Anna Pilková, Juraj Mikuš, J. Rehak, P. Pšenák
ABSTRACT In Central and Eastern European countries, the generational gap between youth and seniors involved in entrepreneurship is a pending issue, yet the research covering the particularities of this problem is sparse. This article contributes to covering the gap in the literature by a/ studying key entrepreneurial factors that influence both the youth and seniors’ early-stage entrepreneurial activity in the CEE region; b/ identifying the key differences and similarities of studied age cohorts as a basis for further research and formulation of entrepreneurial policies. In this research paper, we use the Global Entrepreneurship Monitor (GEM) data. We employ multiple linear regression and ANOVA analysis. Our research suggests that well-designed government programmes in CEE countries are significant drivers for both age cohorts to improve their early-stage entrepreneurial activity. The historical background has a limited impact on youth in CEE countries while a weakening influence on seniors.
在中东欧国家,青年与老年人创业代沟是一个亟待解决的问题,但涵盖这一问题特殊性的研究却很少。本文通过研究影响中东欧地区青年和老年人早期创业活动的关键创业因素,弥补了文献的空白;确定所研究年龄组的主要差异和相似之处,作为进一步研究和制订企业政策的基础。在本文中,我们使用了全球创业监测(GEM)的数据。我们采用多元线性回归和方差分析。我们的研究表明,中东欧国家精心设计的政府项目是这两个年龄段人群改善其早期创业活动的重要驱动力。历史背景对中东欧国家青年的影响有限,对老年人的影响减弱。
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引用次数: 2
The Impact of Recentralisation on FDI: Evidence from a Quasi-Natural Experiment 再集中化对FDI的影响——来自准自然实验的证据
IF 2.2 3区 经济学 Q2 ECONOMICS Pub Date : 2022-02-24 DOI: 10.1080/14631377.2022.2029252
H. Luu, Minh Ngoc Nguyen, H. Nguyen
ABSTRACT Although decentralised governance has been one of the most salient political regimes worldwide over the past few decades, many countries have started to realise various shortcomings associated with their decentralisation process. As a consequence, a number of central governments have attempted to pursue recentralisation reforms in order to reclaim authority from the localities. This government reform can lead to significant changes in institutional arrangements, and subsequently, may influence various aspects of socio-economic activities. However, the real impact of recentralisation reform still remains ambiguous. In this paper, we examine how recentralisation may affect foreign direct investment (FDI) inflows. We exploit the pilot recentralisation reform that temporarily abolished the intermediate legislative branches in some provinces in Vietnam as a quasi-natural experiment. The result shows that recentralisation leads to a significant reduction in FDI inflows. Our results are robust to a number of sensitivity analyses and falsification tests. Overall, our findings contribute to the literature on the determinants of FDI and provide new evidence on the real effect of recentralisation reform.
摘要尽管在过去的几十年里,权力下放治理一直是世界上最突出的政治制度之一,但许多国家已经开始意识到其权力下放过程中存在的各种缺陷。因此,一些中央政府试图推行重新集中化改革,以从地方收回权力。这种政府改革可以导致体制安排的重大变化,随后可能影响社会经济活动的各个方面。然而,重新集中化改革的真正影响仍然模糊不清。在本文中,我们研究了再集中如何影响外国直接投资流入。我们将重新集中改革试点作为准自然实验,该试点暂时取消了越南一些省份的中级立法机构。结果表明,重新集中导致外国直接投资流入显著减少。我们的结果对许多敏感性分析和伪造测试都是稳健的。总的来说,我们的研究结果有助于研究外国直接投资的决定因素,并为重新集中化改革的实际效果提供了新的证据。
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引用次数: 1
Populism and economic policy: lessons from Central and Eastern Europe 民粹主义与经济政策:中欧和东欧的教训
IF 2.2 3区 经济学 Q2 ECONOMICS Pub Date : 2022-02-17 DOI: 10.1080/14631377.2022.2029253
Magnus Feldmann, M. Popa
ABSTRACT A growing literature has identified a coherent economic model associated with populist governments in Central and Eastern Europe. This model runs counter to some aspects of the former neoliberal consensus in the region and to established theories of good governance. Considering three cases which are representative of these developments – Poland (since 2015), Hungary (since 2010), and Romania (2016–19) – we argue that a major unexplained puzzle is the relatively good economic performance of such governments. We develop three interrelated explanations for this apparent puzzle and test them using quantitative data. First, macroeconomic data show that the populist rhetoric of these parties is not associated with classical macroeconomic populism. Second, government accounting data show that public spending has been targeted towards specific groups and has not led to increasing tax burdens. Third, firm-level data on business confidence and institutional perceptions show no obvious negative effects associated with these governments.
越来越多的文献已经确定了与中欧和东欧民粹主义政府相关的连贯经济模型。这种模式与该地区前新自由主义共识的某些方面背道而驰,也与既定的善治理论背道而驰。考虑到这些发展的三个代表性案例——波兰(自2015年以来)、匈牙利(自2010年以来)和罗马尼亚(2016-19年)——我们认为,一个无法解释的主要谜团是这些政府的相对良好的经济表现。我们对这个明显的难题提出了三个相互关联的解释,并使用定量数据对它们进行了测试。首先,宏观经济数据显示,这些政党的民粹主义言论与经典的宏观经济民粹主义无关。其次,政府会计数据显示,公共支出是针对特定群体的,并没有导致税负增加。第三,企业层面的商业信心和制度观念数据显示,这些政府没有明显的负面影响。
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引用次数: 2
Enlisting oil and gas companies for Russia’s Arctic development. Implementation in a rent-based political economy 招募石油和天然气公司参与俄罗斯的北极开发。在租金为基础的政治经济中的实施
IF 2.2 3区 经济学 Q2 ECONOMICS Pub Date : 2022-02-06 DOI: 10.1080/14631377.2022.2028476
Ingerid M. Opdahl
ABSTRACT Oil and gas extraction remains a cornerstone in Russia’s development plans for the Arctic Zone, even as there are considerable constraints on new projects. But what does it take to implement hydrocarbon-based regional development in a rent-based political economy? This paper employs a case study of interaction between state and business actors over hydrocarbon-based cargo traffic for the Northern Sea Route to show how Russia’s elites respond to constraints on Arctic development. It is argued that aims of development and of national interest protection enable the state to enlist companies when implementing high-level priorities. This happens when state actors mobilise major companies, using their privileges in the limited access order context as incentives. This route to implementation of regional developmental aims reinforces Russia’s current oil and gas-based development model as a future model for the Arctic Zone.
石油和天然气开采仍然是俄罗斯北极地区开发计划的基石,尽管新项目受到相当大的限制。但是,在以租金为基础的政治经济中,如何实现以碳氢化合物为基础的区域发展呢?本文采用了国家和商业行为者在北海航线烃类货物运输方面相互作用的案例研究,以展示俄罗斯精英如何应对北极发展的限制。有人认为,发展和国家利益保护的目标使国家能够在实施高级别优先事项时争取公司的支持。当国家行为体动员大公司,利用它们在有限访问订单环境中的特权作为激励时,就会发生这种情况。这一实现区域发展目标的途径加强了俄罗斯目前以石油和天然气为基础的开发模式,使其成为北极地区未来的模式。
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引用次数: 1
Global environmental politics and international organizations: the Eurasian and European experience 全球环境政治与国际组织:欧亚经验
IF 2.2 3区 经济学 Q2 ECONOMICS Pub Date : 2022-02-06 DOI: 10.1080/14631377.2022.2028477
Anastassia V. Obydenkova
ABSTRACT The literature on environmental politics and regional governance has mainly been dedicated to the role played by the European Union (EU). The analysis of environmental agenda and politics of other regional international organisations (IOs) remained in the shadows compared to studies of European actors. This special issue aims to address the following questions: How do various regional IOs matter in promoting and sustaining an environmental agenda? What challenges do they face? The first perspective developed in this Forward to special issue looks into European IOs comparatively to Eurasian IOs. The second perspective unfolds various environmental issues within the EU and across post-Communist EU members and candidate states. The analysis of these two perspectives discloses multiple dimensions in the nexus of political and economic developments, and contribute to better understanding of the role of IOs in sustainable development.
摘要关于环境政治和区域治理的文献主要致力于欧盟(EU)所发挥的作用。与对欧洲行为者的研究相比,对其他区域国际组织的环境议程和政治的分析仍然处于阴影之下。本期特刊旨在解决以下问题:各种区域组织在促进和维持环境议程方面有何作用?他们面临哪些挑战?本期《前进》特刊中发展的第一个视角是将欧洲IO与欧亚IO进行比较。第二个视角展现了欧盟内部以及后共产主义欧盟成员国和候选国的各种环境问题。对这两个视角的分析揭示了政治和经济发展关系的多个层面,有助于更好地理解国际组织在可持续发展中的作用。
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引用次数: 9
Territories of accelerated development: another case of policy failure in Russia? 加速发展地区:俄罗斯政策失败的又一案例?
IF 2.2 3区 经济学 Q2 ECONOMICS Pub Date : 2022-02-03 DOI: 10.1080/14631377.2022.2029254
Stephen Fortescue
ABSTRACT Territories of accelerated development (TORs)1 are special economic zones originally devised to drive transformational economic development in the Russian Far East (RFE). They quickly came to be allowed also in monogoroda (one-company towns) throughout Russia, with reduced transformational expectations. The change in concept and implementation involved a complex and conflicted policy process, the analysis of which allows conclusions to be reached on the nature of the Russian policy process more broadly.
加速发展区(TORs)1是一个经济特区,最初旨在推动俄罗斯远东地区的转型经济发展。他们很快也被允许在俄罗斯各地的mongoroda(一家公司的城镇)工作,从而降低了转型的期望。概念和执行的变化涉及一个复杂而矛盾的政策过程,通过对其进行分析,可以更广泛地得出关于俄罗斯政策过程性质的结论。
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引用次数: 2
Strategies and challenges of sustainable development in Eurasia 欧亚大陆可持续发展的战略与挑战
IF 2.2 3区 经济学 Q2 ECONOMICS Pub Date : 2022-02-02 DOI: 10.1080/14631377.2022.2028478
Anastassia V. Obydenkova
ABSTRACT While supporting the values and goals of sustainable development at the international level, states might employ very different strategies at the national level. The goal of this Forward and of special issue is twofold. First, it aims to advance our understanding of different strategies, paying special attention to China and Russia at global, national, and sub-national levels. Thus, analysis of their strategies across different levels presents a more rounded picture. The second goal is to identify at least a few of the most pressing challenges of sustainable development across Eurasia (e.g. nuclear supply chain, emissions, environmental conflict management) and to attempt to understand their triggers, outcomes, and potential solutions. This Forward aspires to develop a better dialogue across different sets of literature in area studies, environmental politics, and international relations to improve our understanding of obstacles to sustainable development in Eurasia.
摘要各国在国际层面支持可持续发展的价值观和目标时,可能会在国家层面采用截然不同的战略。《前进》和特刊的目标是双重的。首先,它旨在加深我们对不同战略的理解,特别关注中国和俄罗斯在全球、国家和次国家层面的情况。因此,对不同层面的策略进行分析,可以得出更全面的结论。第二个目标是至少确定欧亚大陆可持续发展的一些最紧迫挑战(如核供应链、排放、环境冲突管理),并试图了解其触发因素、结果和潜在解决方案。《前进》希望在地区研究、环境政治和国际关系的不同文献中开展更好的对话,以提高我们对欧亚大陆可持续发展障碍的理解。
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引用次数: 8
An examination of the relationship between implicit taxes and market structure: Evidence from Chinese listed companies 隐性税收与市场结构关系研究——来自中国上市公司的证据
IF 2.2 3区 经济学 Q2 ECONOMICS Pub Date : 2022-02-01 DOI: 10.1080/14631377.2021.2006494
Jifeng Cao
ABSTRACT An implicit tax is a reduction in the pre-tax rate of return driven by tax preferences on an investment. The extant research demonstrates existence of implicit taxes at corporate level, but prior studies have drawbacks in tax preferences measure. This study takes the unique advantage of Chinese corporate tax rate preference setting to address research method problems. By employing the propensity score matching and multivariate regression analysis, we demonstrate the existence of implicit taxes in Chinese listed firms and the market structure impedes the realisation of implicit taxes. The market power and market concentration reduce the negative effect of tax preferences on the firm’s pre-tax rate of return.
摘要隐性税是指在投资税收优惠的推动下降低税前回报率。现有的研究表明,企业层面存在隐性税收,但先前的研究在税收优惠措施方面存在缺陷。本研究利用我国企业税率优惠设置的独特优势来解决研究方法上的问题。通过倾向得分匹配和多元回归分析,我们证明了中国上市公司存在隐性税收,市场结构阻碍了隐性税收的实现。市场力量和市场集中度降低了税收优惠对企业税前回报率的负面影响。
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引用次数: 0
Role of institutions in the corruption and firm innovation nexus: evidence from former Soviet Union countries 机构在腐败和企业创新关系中的作用:来自前苏联国家的证据
IF 2.2 3区 经济学 Q2 ECONOMICS Pub Date : 2022-01-26 DOI: 10.1080/14631377.2021.2006495
Elchin Aghazada, Gaygysyz Ashyrov
ABSTRACT In view of the missing consensus on how corruption relates to firm innovation, this paper empirically studies the relationship between petty corruption and product, process, marketing and organisational innovations in the former Soviet Union region. Exploiting cross-sectional firm-level data from the fifth round of the Business Environment and Enterprise Performance Survey, the paper argues that institutional context has utmost importance when approaching this link. Probit estimations for a full sample of former Soviet Union countries indicate a positive link between bribes and firm innovation. Considering variations in institutional development levels, the paper distinguishes three clusters of countries within the region with respect to the quality of institutional structures based on Worldwide Governance Indicators (WGI) data from the World Bank. The results reveal that the grease-the-wheel effect of bribery on firm innovation strongly remains in countries with weak institutional quality. To explore this link further, this paper made several additional estimations and robustness checks.
摘要鉴于人们对腐败与企业创新之间的关系缺乏共识,本文实证研究了前苏联地区轻微腐败与产品、流程、营销和组织创新之间的联系。本文利用第五轮商业环境和企业绩效调查的企业层面的横断面数据,认为在处理这一联系时,制度背景至关重要。Probit对前苏联国家全样本的估计表明,贿赂与企业创新之间存在积极联系。考虑到体制发展水平的差异,本文根据世界银行的全球治理指标数据,在体制结构质量方面区分了该区域内的三组国家。研究结果表明,在制度质量较弱的国家,贿赂对企业创新的推波助澜作用依然强烈。为了进一步探索这一联系,本文进行了几个额外的估计和稳健性检查。
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引用次数: 5
期刊
Post-Communist Economies
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