Journal articles on the topic 'International business investment'
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1
Lupton, Nathaniel C., Guoliang Frank Jiang, Luis F. Escobar, and Alfredo Jiménez. "National Income Inequality and International Business Expansion." Business & Society 59, no. 8 (December 7, 2018): 1630–66. http://dx.doi.org/10.1177/0007650318816493.
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We examine the extent to which host country income inequality influences multinational enterprises’ (MNE) expansion strategy for foreign production investment, depending on their specific strategic objectives. Applying a transaction cost framework, we predict that national income inequality has an inverted U-shaped relationship with foreign production investment. As inequality increases, MNEs accrue lower transaction costs arising from interactions with various local actors, leading to higher probability of investment. As income inequality increases further, its effect on location attractiveness will become negative, as its attraction effect is increasingly offset by additional monitoring, bargaining, and security costs owing to the more fractious nature of high inequality societies. In addition, we suggest that the impact of income inequality is contingent on investment objectives: The inverted U-shaped relationship is stronger for efficiency-seeking investment but weaker for market-seeking and competence-enhancing investments. We find substantial support for our hypotheses through an analysis of 27 years (1986-2012) of data on Japanese MNEs’ overseas production entries.
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DiMascio, Nicholas, and Joost Pauwelyn. "Nondiscrimination in Trade and Investment Treaties: Worlds Apart or Two Sides of the Same Coin?" American Journal of International Law 102, no. 1 (January 2008): 48–89. http://dx.doi.org/10.1017/s000293000003983x.
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For global business, international trade and investment are bound at the hip. When businesses trade internationally, goods or services cross borders; when they invest, it is capital and other factors of production that do so. Companies trade to supply their foreign investments; they invest to facilitate and diversify their trade. In contrast, international law addresses trade and investment separately and regulates them in ways that are dramatically different. First, trade has been governed multilaterally since 1947 through what today is the World Trade Organization (WTO), whereas close to 2,600 separate bilateral investment treaties (BITs), which mushroomed only in the 1980s and 1990s, now regulate foreign direct investment (FDI). Second, hundreds of increasingly sophisticated WTO rules discipline trade, whereas a mere handful of principles cover investment—many of which derive from customary international law. Third, trade agreements are enforced exclusively between states, with reciprocal trade sanctions as the remedy of last resort; under investment treaties, private companies have standing to claim monetary damages from host country governments.
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Oviedo, P. Marcelo, and Rajesh Singh. "Investment composition and international business cycles." Journal of International Economics 89, no. 1 (January 2013): 79–95. http://dx.doi.org/10.1016/j.jinteco.2012.04.006.
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Toryanyk, V., V. Dzhyndzhoian, and O. Priz. "INNOVATION AND INVESTMENT TRENDS IN INTERNATIONAL BUSINESS." Investytsiyi: praktyka ta dosvid, no. 22 (November 29, 2019): 5. http://dx.doi.org/10.32702/2306-6814.2019.22.5.
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Cherepovskyi, K. V. "Interstate investment legal treatment as a factor of investment attractiveness." ACTUAL PROBLEMS OF THE LEGAL DEVELOPMENT IN THE CONDITIONS OF WAR AND THE POST-WAR RECONSTRUCTION OF THE STATE, no. 13 (October 1, 2022): 434–38. http://dx.doi.org/10.33663/2524-017x-2022-13-69.
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The theses are devoted to one of the key components of international investment agreements – investment legal treatment, since an even fluent analysis of international investment arbitrations with participation of states and subjects of economic activity with investments from abroad delivers understanding that standards and guarantees of investment legal treatments have fundamental character at least for the mentioned legal practices. Kind of argument for this could be found in a position of agreed provisions of investment treatments at bilateral investment treaties, which usually follows introduction norms for investment permitting and admitting, being set from the very beginning of such treaties. But, is this fundamental character of investment legal treatments being remained in other important rules of international investment implementation? Scientific questions about corresponding dualism are likely the key at these theses, because the concept of investment legal treatment is quite deeply studied in the framework of international law and general law theories, but leaves a number of insufficiently disclosed scientific and practical issues regarding the specifics of this concept in certain branches, including international investment law in the first place. The analysis defines main practical problems of international investment law, including the legal protection of international investment and the delimitation of actions of states that constitute expropriation or the measures taken by states under the right to regulate within public interest. Separate researching attention also paid to legal interaction between the concepts of the investment legal treatment as legal instrument of an international lawyer, and the state guarantees for the protection of foreign investment – as remedy and element of specialist in domestic law practices. Provided research significates investment legal treatment importance as a factor of local investment attractiveness, it also outlines importance of development of state guarantees for protection of foreign investments by delivering progressive European approaches as the examples, focusing on effective balance reaching within the corresponding regulation. Scientific and practical conclusions on the most important legal sources in the field of international investment activities are made, the direction for the next stage of researching work is preoutlined. Key words: international investment law, international investments, investment legal treatment, bilateral investment treaties, international investment arbitration, state guarantees for the protection of foreign investments.
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Navissi, Farshid, VG Sridharan, Mehdi Khedmati, Edwin KiaYang Lim, and Egor Evdokimov. "Business Strategy, Over- (Under-) Investment, and Managerial Compensation." Journal of Management Accounting Research 29, no. 2 (July 1, 2016): 63–86. http://dx.doi.org/10.2308/jmar-51537.
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ABSTRACT This study examines whether and how business strategy influences a firm's over- and under-investment decisions. Prospector and defender strategies expose firms to different required levels of investment, monitoring, and managerial discretion, which have implications for managerial investment decisions. Our results provide evidence that firms with an innovation-orientated prospector strategy are more likely to over-invest, whereas firms following an efficiency-orientated defender strategy are more likely to under-invest. These over- and under-investments are associated with poorer future firm performance. Moreover, the level of over- (under-) investment is exacerbated in the presence of more stock- (cash-) based compensation in prospector (defender) firms. Our results are robust to a number of checks such as ordered logit analysis, individual components of business strategy, individual components of investment, year-by-year and industry-by-industry analysis, controlling for lagged investment residuals, controlling for firm fixed-effects, first-differenced specifications, and propensity score matching.
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Churuta, Ivan. "Ukraine’s position in international investment ratings." Herald of Ternopil National Economic University, no. 2(88) (June 6, 2016): 36–44. http://dx.doi.org/10.35774/visnyk2018.02.036.
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The article reasons that foreign direct investments play a crucial role in the economy of every world country, since they ensure the effective functioning of economy and economic growth. It is found that the volume of foreign direct investments into the economy of a certain country depends on the investment climate, whose main indicator is the position of countries in international investment ratings that allows us to evaluate the investment climate, possible investment risks and the degree of investment safety. The subject of the study is the investment climate in Ukraine and its position in the main international investment ratings. The research methods used in the study include theoretical generalization, comparison, abstraction, analysis and synthesis. The paper presents a list of the main international investment ratings that should be taken into account by potential investors while analyzing the investment climate and investment image of the country and considering the practicality of investing into the economy. The current position and dynamics of Ukraine’s rankings in these ratings are analyzed: according to Global Competitiveness index – 81st position among 137 countries; according to index of Economic Freedom – 150th position among 180 countries; according to Ease of Doing Business index – 76th position among 190 countries; according to Investment Attractiveness index – 134th out of 174 countries. Based on the analysis of Ukraine’s position in the main international investment ratings, it is concluded that the investment climate in Ukraine is not favorable; therefore, Ukraine needs to take measures to improve its investment climate and its positions in these ratings in order to attract foreign investment to the required extent.
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Wang, Boge. "Research on Business Opportunities of International Investment Banks in China." E3S Web of Conferences 235 (2021): 01050. http://dx.doi.org/10.1051/e3sconf/202123501050.
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As China’s capital market deepens reforms, international investment banks are also seeking further opportunities for business development in China. This article first introduces the corresponding overview of China’s investment banking business and international investment banks, and analyzes the development of China’s investment banking market from the four markets of IPO, equity refinancing, M&A and restructuring and debt financing, and then from business contract, undertaking and sales, it analyzes the advantages and disadvantages of international investment banks. It is concluded that under the background of the continuous expansion of the China’s investment banking business market, there are certain opportunities and development prospects for the development of international investment banks in China, but their operations need to be further improved. Based on this, relevant suggestions are proposed for international investment banks to operate in China.
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KHAIETSKA, Olha. "WAYS TO INCREASE THE INTERNATIONAL INVESTMENT ATTRACTIVENESS OF UKRAINE." "EСONOMY. FINANСES. MANAGEMENT: Topical issues of science and practical activity", no. 3 (53) (October 4, 2020): 113–30. http://dx.doi.org/10.37128/2411-4413-2020-3-9.
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The article describes the essence of investment, which is a key factor in economic development, highlights the current state of investment attractiveness of Ukraine. Attracting long-term international investments, their promotion is one of the priorities of economic policy. In the economy of Ukraine, there is a problem of lack of investment resources and lack of favorable conditions for their accumulation, imperfect assessment of the internal potential of national savings, the capacity of financial institutions for investment transformation of resources, features of investment regulation in changing economic relations. The general principles of investment policy and the main components of investment attractiveness are proposed, thanks to which a stable inflow of investments into the country is ensured. The course of modern political processes, goals and priorities for improving the investment climate in Ukraine, which negatively affect the international investment attractiveness, has been established. The dynamics of foreign direct investment in Ukraine, their structure by type of economic activity and the distribution of direct investment by investor countries are presented and analyzed. It was revealed that in 2019 the Ukrainian economy received investments from Cyprus, the Netherlands, Switzerland, Germany, and promising industries for international investment are agriculture, industry, energy, wholesale and retail trade, information technology and infrastructure, financial corporations. and insurance activities. A number of indices are proposed that determine the investment attractiveness of countries, investment confidence. The rating of investment attractiveness of Doing business-2020 is substantiated, where Ukraine has improved its positions compared to last year.
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Nezhyva, Mariia, Olha Zaremba, and Viktoriia Mysiuk. "International trade risk management under the impact of globalization." SHS Web of Conferences 111 (2021): 01016. http://dx.doi.org/10.1051/shsconf/202111101016.
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Doing business in condition of international trade, a stable and competitive business environment is vital to operate efficiently and attract inward investment. Businesses can assess these factors alongside challenges such as corruption, political instability and terrorism to understand the strengths and weaknesses of an operating environment and for strategic investment decisions. In terms of open economy and globalization trends, business faced a lot of different challenges with their specific risks, hence an effective risk assessment approach and management is extremely vital for economic security of business and especially for all country doing business with other countries trying to succeed. The article presents risk management plan content that helps to structure business risk management process and provide with the measures how to deal with risks.
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Nóbrega, Beatriz Figueiredo Campos. "Promoting economic and social development through an innovative investment framework: the multidimensional role os ACFIs." International Journal of Digital Law 2, no. 1 (April 27, 2021): 91–110. http://dx.doi.org/10.47975/ijdl/1nobrega.
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The economic performance of a country, in the era of a globalized economy and its value chains, is strongly affected by foreign investments. The regulation of this cross-border capital flow through international instruments negotiated and celebrated to facilitate, boost and protect foreign investments demonstrates the potential of these instruments in shaping a responsible and diligent insertion of foreign investments in the host country. In Brazil, the investment agreements have been, in the recent years, negotiated through the so-called Cooperation and Facilitation Investment Agreements (CFIAs). So why not use this important mechanism to build a more efficient system? It urges that International Investment Law is brought into this debate, leading the way to incorporating socially responsible corporate conducts into the productive economic process by both States and investing economic agents. This study seeks, therefore, to evaluate Responsible Business Conduct in its interrelation with investment mechanisms that can, at once, attract and facilitate investment and also promote economic and social development.
Key words: foreign investment; CFIAs; responsible business conduct; economic and social development.
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Stanković, Vladan, Gordana Mrdak, and Miloš Miljković. "Economic-legal analysis of international investments." Oditor 6, no. 3 (2020): 89–122. http://dx.doi.org/10.5937/oditor2003089s.
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The subject of this paper is an analysis of advantages and disadvantages of international investments - foreign direct investment (FDI) with a brief overview of the Republic of Serbia and its level and structure of FDI. Foreign direct investment is an important factor in development, especially in developing countries and countries in transition. Countries in transition, which includes Serbia and all Western Balkan countries feel a lack of capital, so it is important for them to fill the gap with foreign direct investment. For countries with current account deficits, FDI is used to increase exports and alleviate current account deficit problems. Based on experience and theoretical consideration, the paper points out the necessity of changes in our business environment, in order for Serbia to use foreign direct investments (with all its negative characteristics) which can and must give a special contribution and impetus to its economic growth.
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Pelayo Maciel, Jorge, Manuel Alfredo Ortiz Barrera, and Aimee Pérez Esparza. "Foreign Direct Investment: International Strategies by Business Groups." Mercados y Negocios, no. 38 (July 1, 2018): 7–22. http://dx.doi.org/10.32870/myn.v0i38.7228.
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This research analyses the decision of foreign direct investment (FDI) followed by business groups, identifies two forms: acquisition and minority purchase of foreign company shares. Analyses how it affects the performance of such groups. Also includes the concentration of property since it forms part of corporate governance. In order to achieve this, a data panel analysis with information of 39 business groups and a total of 3,443 subsidiaries and that have also made FDI in a period ranging from 2012 to 2015. The findings were that the minority purchase of shares achieves a positive relationship with performance and clearly shows that the company's concentrated ownership has a negative relation to performance.
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Kasozi, Jason. "Evaluating the investment decision-making process for business expansion into Africa: A case study." Risk Governance and Control: Financial Markets and Institutions 2, no. 4 (2012): 7–16. http://dx.doi.org/10.22495/rgcv2i4art1.
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Africa is a potential domain for international business. However, numerous uncertainties characterize this environment and the challenge for multinationals remains the ability to assess the true value of an Africa-bound investment project. A telecommunications’ survey was conducted on Siemens Southern Africa (Siemens) and Mobile Telecommunications’ Network (MTN) and the following observations were made: (1) Approaches used by the businesses to value Africa-bound investments were not comprehensive and inclusive. (2) Neutrality existed to the suggestion that Africa is unique and that investment decisions should be customized to suit it. (3) Certain approaches used by the businesses were modified to suit pertaining investment circumstances thereby differing from literature, and (4), participants desired to learn new ways of improving this process suggesting dissatisfaction with the current norm. This paper presents the conflicting ideologies about the decision-making process for business expansion into Africa and suggests ways of improving the process.
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Sorokina, L. V., and A. F. Hoiko. "Investment efficiency of business in Ukraine: realities and assessment methodology." Ways to Improve Construction Efficiency 2, no. 47 (January 29, 2021): 48–63. http://dx.doi.org/10.32347/2707-501x.2021.47(2).48-63.
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The article systematized factors of investment attractiveness and investment climate in Ukraine. The expediency of supplementinganexistinglist of components of investment climate is substantiated by two additional factors. Themechanismo factionoftheproposedfactorsthatreflectthenegative effectin the developmen to freformsand innovations, aswellas the economic efficiency of construction projects on the financial result, expected from investigations, isrevealed. The trends in the developmen to finvestment activityinUkrainein 2015 - 2020, the existence of reserves for increasing the economic efficiency of investments and the need for their calculation witht hehelpof a special methodological approac hare analyzed. The methodical approach to the evaluation of investment efficiency of constructionis developed, which is based on the magnitude of the multiplier of capital investment in construction inthelong-termperiodandrefinedtheboundariesoftheretrospectivehorizon, which are necessary to determine such a multiplier. The rapid importance of aninvestment multiplier of construction isestablis hedand a methodological approach to qualitative interpretation of this indicator issubstantiated. The basis of a methodological approach is the results of a cluster analysis of aninvestment multiplier in the contex to fvarioustypesofconstructionandregions, the methodof K-medium, aswellaspostulatesofthetheoryoffuzzysets. Within the framework of the developed methodological approach, the "investment attractiveness of construction" characteristicsis presentedin the form of a fuzz yterm-shear, which combines three terms: "Lowefficiency", "averageefficiency", "highlevelofefficiency". Inaccordance with descriptiv estatistics of thereceived clusters, the parameters and type of functions of affiliation, the boundaries of clusters that directly affecttheuse of correctivea mendments to the value of the economic effectof capitalinvestment to the level of the contractor-executor of construction work are substantiated. The sizeofther is kfactorisestablishedtakingintoaccountthetypeofconstructionandmedium-layervalues ofmultipliersofcapitalinvestmentinconstruction. Theuse of the proposed Metdic approach to the analysis of investment efficiency inconstruction makesitpossible to increase the accuracy of calculations on th epre-investmentst age of construction, aswellastoimprovemonitoring of capital investment development, carried out in the process of implementing national investment programs and international investment projects.
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Shmorhun, I. "SUSTAINABLE INTERNATIONAL PORTFOLIO INVESTMENT: CONCEPTS AND CHARACTERISTICS." Bulletin of Taras Shevchenko National University of Kyiv. Economics, no. 220 (2022): 54–58. http://dx.doi.org/10.17721/1728-2667.2022/220-3/7.
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The article is devoted to analyzing the concept of sustainable international portfolio investment and the main features and differences from traditional international portfolio investment. It was found that there are practically no definitions of sustainable international portfolio investment in academic literature of domestic and foreign authors. The notions of the categories “sustainable investment” and “international portfolio investments” were considered and analyzed discretely. The sustainable international portfolio investment is treated as the process of investing funds by investment market actors through purchasing foreign securities of issuers (companies or countries) conducting business activities in compliance with environmental, social, and governance factors or green bonds to obtain investment benefits with mandatory consideration of (ESG) criteria. Comparative characterization of traditional and sustainable international portfolio investment was carried out regarding for such features as the essence, time period, and ultimate goal. Specific features of sustainable international portfolio investment were identified: investing in foreign financial instruments (mainly shares and bonds) taking into account social, environmental and governance criteria of companies or countries; investment objects do not include such traditional investment instruments as derivative financial instruments due to the fact that they have a speculative focus; the primary goal is to maximize profits and minimize risks, with mandatory consideration of ESG criteria; consideration of specific types of risk (ecological, social and governance).
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Amiram, Dan. "Financial Information Globalization and Foreign Investment Decisions." Journal of International Accounting Research 11, no. 2 (August 1, 2012): 57–81. http://dx.doi.org/10.2308/jiar-50282.
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ABSTRACT This paper investigates the association between the adoption of international accounting standards and foreign investment decisions. Prior research suggests that information asymmetries between local and foreign investors and behavioral biases caused by unfamiliarity of the foreign markets contribute to investors preferring to invest in their home markets. Because one of the goals of the adoption of international accounting standards is to establish a high-quality, internationally familiar set of accounting standards, I predict that foreign investments will increase in countries that adopted International Financial Reporting Standards (IFRS) after the adoption and that this increase is driven by the familiarity of IFRS. I find that foreign equity portfolio investments (FPI) increase in countries that adopt IFRS. More importantly, I find that this relation is driven by foreign investors from countries that also use IFRS. Moreover, the effect of accounting familiarity is more pronounced when investor and investee countries share language, legal origin, culture, and region. I also find that countries with lower corruption and better investor protection experience larger increases in FPI after they adopt IFRS relative to other IFRS users. These findings are consistent with the hypothesis that familiar accounting information drives foreign investment decisions.
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Samphantharak, Krislert. "The Rise of China and Foreign Direct Investment from Southeast Asia." Journal of Current Southeast Asian Affairs 30, no. 2 (June 2011): 65–75. http://dx.doi.org/10.1177/186810341103000204.
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This paper discusses foreign direct investment from Southeast Asia to China. With the exception of some government-linked companies, most investments from Southeast Asia have been dominated by the region's overseas Chinese businesses. In addition to cheap labour costs, large domestic market and growing economy, China has provided business opportunities to investors from Southeast Asia thanks to their geographic proximity and ethnic connections, at least during the initial investment period. However, the network effects seem to decline soon after. As the Chinese economy becomes more globalised and more competitive, the success of foreign investment in China will increasingly depend on business competency rather than ethnic relations.
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Dagbanja, Dominic Npoanlari. "The CAI and Sustainable Development." Journal of World Investment & Trade 23, no. 4 (August 5, 2022): 572–600. http://dx.doi.org/10.1163/22119000-12340261.
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Abstract Sustainable investment is underpinned by principles that emphasise an investment’s contribution to sustainable development. Among the constituent elements of sustainable investment under the Comprehensive Agreement on Investment (CAI) is corporate social responsibility (CSR). I appraise CSR provisions as to whether they make investment work for sustainable development. The provisions on CRS are founded on internationally recognised norms on sustainable development and responsible business practices as overarching principles and demonstrate EU-China leadership to harmonise and converge rules on investment protection and norms on sustainable development. This has long term systemic implications for both EU-China future international economic relations and for the global investment treaty regime. However, the sustainable development provisions exemplified by those on CRS create voluntary responsibilities. They are, therefore, unlikely to result in the attainment of the objective of sustainable investment. To infuse substantive content to these provisions and make them practically relevant, I propose that aspects of the norms on sustainable development and responsible business practices need to be incorporated into CAI and made legally binding and enforceable.
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Niyazi Hasanov, Niyazi Hasanov, and Azer Agarzayev Azer Agarzayev. "MECHANISM FOR THE EFFECTIVE PREPARATION OF BUSINESS PLANS USING PRICING CRITERIA WHEN IMPLEMENTING INVESTMENT STRATEGIES IN THE INTERNATIONAL CAPITAL MARKET." PIRETC-Proceeding of The International Research Education & Training Centre 16, no. 06 (November 10, 2021): 43–55. http://dx.doi.org/10.36962/piretc1606202143.
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The article analyzes the shortcomings related to the temporary disposal of income, income from real assets or financial investments in securities transactions, and the decisions made on the suitability of a particular project for investment. The issues of implementation of relevant opportunities for involvement were investigated. Favorable investment opportunities were assessed, issues of differentiation of capital investments, hierarchical system of world economic relations, investment efficiency and methodological issues of efficiency were analyzed. Keywords: securities, investment strategy, financial instruments, commercial efficiency, net discounted income, project risk accounting.
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Kostyrko, Lidiya, Ruslan Kostyrko, Olena Sereda, and Eleonora Chernodubova. "Problems and prospects of management of investment attractiveness of subjects of business." SHS Web of Conferences 67 (2019): 06029. http://dx.doi.org/10.1051/shsconf/20196706029.
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On the basis of the analysis of the scientific views of researchers, the essential characteristics of the category of “investment attractiveness” as an object of management are specified. According to the results of the study of macroeconomic indicators (GDP, gross fixed capital formation, financing of capital investments, financing of innovations, direct foreign investments), the current problems of investment attractiveness in the country are determined. The investment attractiveness of Ukraine is analysed in accordance with the international indices. The sequence of investment attractiveness management of business entities is proposed, where priority is given to the strategies of the financial regulation by the development of business entities. The urgency of the formation of a financial regulation strategy based on an estimation of investment attractiveness is substantiated. The priority directions of increase of investment attractiveness in the framework of realization of the strategy of financial regulation by development of the business entities, which stipulate the choice of sources of financing, optimization of the structure of capital, asset restructuring and financing of innovations are determined.
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Viktorova, N. N. "EVOLUTION OF THE LEGAL CONCEPT OF "FOREIGN INVESTMENT" IN A NETWORK SOCIETY." Lex Russica, no. 11 (November 22, 2019): 88–95. http://dx.doi.org/10.17803/1729-5920.2019.156.11.088-095.
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The paper deals with the problems of definition of the concept "investment" in multilateral and bilateral investment treaties. The author shows how the approach to the definition of "investment" in international investment agreements has changed over time, how this concept differs in modern agreements from those enshrined in agreements concluded more than ten years ago. It is noted that today we can talk about the trend of a broad definition of the concept of investment in international treaties, that is, investments are understood as any kind of property values; further the author specifies what applies to them.International treaties on the protection and promotion of investment also include the right to engage in business activities. It turns out that investment disputes can arise from ordinary commercial activities, for example from a contract of sale. However, there are documents that do not include monetary claims arising from commercial contracts, such as the 2012 model bilateral investment Treaty of the South African development Community.Generally, investment protection agreements do not distinguish between direct and portfolio investments. Therefore, portfolio investments also enjoy the protection of these investment treaties. However, some of the international investment agreements that are currently being concluded specify that portfolio investments are excluded from their scope, such as the Model bilateral investment Treaty of the South African Development Community.In the literature there are three approaches to the qualification of foreign arbitral awards as a foreign investment. According to one of them, the award is an investment, because it is part of the entire activity of the investor. Some modern international investment agreements contain provisions according to which arbitration, judicial decisions are not investments.
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Jurša, Aleksejs. "Structural Analysis of Inward Foreign Direct Investment in Latvia." Humanities and Social Sciences: Latvia 29, no. 1 (June 2021): 76–94. http://dx.doi.org/10.22364/hssl.29.1.05.
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The aim of this article is to investigate the activity of foreign direct investors in Latvia and find out what is the main source of financing for foreign investors – new investments or reinvested earnings.In order to achieve the set goal and test the hypothesis, the methodology of Sixth Edition of the International Monetary Fund’s Balance of Payments and International Investment Position Manual was used to define the types of foreign direct investment. This methodology was adapted to Latvian data. At the request of the author, Ltd Lursoft IT selected business data on all registered companies with foreign capital in Latvia since 2005 and aggregate data were used in the analysis.Foreign direct investment in Latvia flows mainly in the form of reinvested earnings, due to the profit earned from operating activities in Latvia. While new investments or greenfield investments in equity is lower compared to the amount of reinvested earnings. The results of the study reflect the business results of foreign direct investors in Latvia, as well as their actions in relation to the earned profit from operating activities. These results could be used by the Ministry of Economics of the Republic of Latvia and the Investment and Development Agency of Latvia to improve Latvia’s investment environment and im¬plement a more effective investment attraction strategy.
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Heikkilä, Tuomo. "A decision support system to evaluate the business impacts of machine-to-machine system." Benchmarking: An International Journal 22, no. 2 (March 2, 2015): 201–21. http://dx.doi.org/10.1108/bij-11-2012-0080.
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Purpose – The tightening competition and performance pressure in companies often leave no time or space for the assessment of business impacts of different investments and projects. In addition, in many cases the assessment may be challenging and there is no experience available to undertake it. Despite that companies often commit to different projects and investments without careful planning and vision of the costs it may cause. The purpose of this paper is to create a decision support system in order to facilitate and increase the assessment of business impacts of different investments concerning to machine-to-machine (M2M) systems. Design/methodology/approach – The created decision support system is composed of cost-benefit analysis including several investment decision methods. In order to deepen the understanding on it, the system was applied to two cases from the M2M business. Findings – During the study it was found that different financial metrics might give contradictory results when deciding whether to undertake an investment. In addition, a significant finding was how much some variables may have significance to the eligibility of an investment than others. The study also gave understanding how long payback time can be and how risky the investments might be in different M2M applications. Originality/value – The study describes the created decision support system and it is applied to two different M2M applications. The system provides a comprehensive combination of different financial metrics, which will help any manager make decisions whether an investment is eligible or not.
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Morgan, Eleanor J. "Tax, Incentives and Small Business Investment." International Small Business Journal: Researching Entrepreneurship 5, no. 4 (May 1987): 23–33. http://dx.doi.org/10.1177/026624268700500402.
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Miloud, Tarek. "Corporate Governance, Investment And Business Growth." Journal of Applied Business Research (JABR) 33, no. 1 (December 27, 2016): 1–8. http://dx.doi.org/10.19030/jabr.v33i1.9862.
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The purpose of this study is to bridge the gap between theory and corporate governance practices in selected emerging and developed economies, and assess its impact on corporate growth and productivity. Our investigation yields a negative relationship between corporate governance and investment levels and GDP growth in these countries.
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Gholam‐Nezhad, Hameed, and Yunus Kathawala. "Risk Assessment for International Investment." Management Research News 13, no. 1 (January 1990): 1–8. http://dx.doi.org/10.1108/eb028062.
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Basedow, Robert. "The European Unions New International Investment Policy: Product of Commission Entrepreneurship or Business Lobbying?" European Foreign Affairs Review 21, Issue 4 (December 1, 2016): 469–91. http://dx.doi.org/10.54648/eerr2016040.
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The article seeks to explain the emergence of the European Union (EU)’s international investment policy since the 1980s. The article develops two competing explanations. It evaluates whether the Commission acted as policy entrepreneur to consolidate the EU’s role in international investment policy or whether European business lobbied for the ‘brusselization’ of international investment policy making to ensure access to ambitious state-of-the-art international investment agreements. The article traces the EU’s involvement in international investment policy through history. It examines policy-making instances, which shaped the EU’s de facto competences in international investment negotiations and its legal competences under European law. It finds that Commission entrepreneurship promoted the EU’s involvement in international investment negotiations and ultimately ensured due to the procedural particularities of the Convention on the Future of Europe the extension of the EU’s legal competences. European business and the Member States did not promote the emergence of the EU’s international investment policy.
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Silva, Álvaro. "Organizational Innovation in Nineteenth-Century Railway Investment: Peripheral Countries in a Global Economy." Business History Review 88, no. 4 (2014): 709–36. http://dx.doi.org/10.1017/s0007680514000737.
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The relationship between ownership and control of distant ventures has been a major topic in business history. This relationship prompted the creation of a specific organizational form, the freestanding company, particularly active in international business before World War I. The freestanding form and railway companies such as Companhia Real share the common characteristic of being stand-alone firms based on foreign direct investment (FDI), but their legal ownership and management strategy were different. The freestanding companies offshored legal ownership; Companhia Real offshored top management since it was incorporated in the country hosting FDI. This business configuration was usual in French investments across European peripheral countries. This article introduces a new concept into the current international business literature, emphasizing the polymorphous character of foreign investment before World War I.
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Walter, Andrew. "NGOs, Business, and International Investment: The Multilateral Agreement on Investment, Seattle, and Beyond." Global Governance: A Review of Multilateralism and International Organizations 7, no. 1 (July 28, 2001): 51–73. http://dx.doi.org/10.1163/19426720-00701006.
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Mohammed, Mikidadu, and Jean Marie Luundo. "A Novel Country Classification System for Choosing International Business Locations." International Business Research 13, no. 1 (November 26, 2019): 29. http://dx.doi.org/10.5539/ibr.v13n1p29.
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This paper introduces a novel country classification system that rates the political economy risks of countries for the purpose of conducting international business. It is intended to provide investors, multinational companies, and business researchers a quick and efficient way of gauging the extent of political, economic, and legal risks associated with doing business in different countries. The study covers over 170 countries and identifies 24 country types. At the extremes are Type 1 countries (least risky) and Type 24 countries (most risky). Overall, the new classification system suggests that political economy risks associated with doing international business are relatively mild in Type 1, Type 3, and Type 4 countries. However, international businesses should temper their investment decisions with caution in Type 19, Type 20, Type 22, Type 23, and Type 24 countries due to high political, economic, and legal risks, especially Types 23 and 24 where these risks are excessive. At the same time, international businesses may want to refocus their attention to Type 11 countries who are now havens for international investments due to drastic reduction in political, economic, and legal risks associated with doing business. The twenty-four country types identified in this new classification system are time-invariant. Thus, countries may move up or down due to improvements or deteriorations in certain aspects of their political economy.
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Rugman, Reviewed by: Alan M. "Politics and International Investment." Journal of International Business Studies 34, no. 2 (March 2003): 223–25. http://dx.doi.org/10.1057/palgrave.jibs.8400004.
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Kasozi, Jason. "Evaluating the investment decision-making process for business expansion into Africa: A case study." Corporate Ownership and Control 10, no. 3 (2013): 464–73. http://dx.doi.org/10.22495/cocv10i3c4art5.
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Africa is a potential domain for international business. However, numerous uncertainties characterize this environment and the challenge for multinationals remains the ability to assess the true value of an Africa-bound investment project. A telecommunications’ survey was conducted on Siemens Southern Africa (Siemens) and Mobile Telecommunications’ Network (MTN) and the following observations were made: (1) Approaches used by the businesses to value Africa-bound investments were not comprehensive and inclusive. (2) Neutrality existed to the suggestion that Africa is unique and that investment decisions should be customized to suit it. (3) Certain approaches used by the businesses were modified to suit pertaining investment circumstances thereby differing from literature, and (4), participants desired to learn new ways of improving this process suggesting dissatisfaction with the current norm. This paper presents the conflicting ideologies about the decision-making process forbusiness expansion into Africa and suggests ways of improving the process.
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Sokolyuk, Serhiy, Vitalii Rybchak, and Olena Zharun. "Problems of attracting investment to Ukraine." Turystyka i Rozwój Regionalny, no. 14 (July 16, 2020): 137–44. http://dx.doi.org/10.22630/tirr.2020.14.25.
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The article analyzes the investment climate in Ukraine. The structure and dynamics of investment income in the national economy are investigated. The main problems and factors of attracting foreign investments, that are restricting the investment activity of domestic enterprises, are analyzed. It’s explored the place of Ukraine in the international ranks towards doing business and the overall state of the investment climate. The influence of macroeconomic factors on the investment activity of foreign investors is substantiated. It’s offered the directions of increasing the investment attractiveness of the Ukrainian economy in the current conditions of development.
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Borodkin, Stanislav. "Legislation on Foreign Investments and Practice of Investment Dispute Resolution." Journal of Russian Law 4, no. 4 (April 11, 2016): 0. http://dx.doi.org/10.12737/18702.
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Russian companies doing business outside of the Russian Federation require special protection of their rights and lawful interests. Several methods of protecting foreign investor rights are available under the international law, including national courts and tribunals and commercial arbitrations (both institutionary and ad-hoc). International Center for Settlement of Investment Disputes is a special institution established to resolve the controversies related to foreign investments. It was created under an international treaty and its decisions are not subject to sovereign immunity. The article considers ICSID practice regarding the definition of an investment, since disputes are related to an investment activity, which is a topical question when dealing with the determination of the Center competence. While the analyzed cases do not have the power of binding precedents, when the arbiters elaborate on the definition of a foreign investment they use specific criteria that could be relevant for the national law. Since international practice has a more specific definition of foreign investments than the Russian law, the author suggests that the former be taken into consideration when a foreign investment is defined in Russian legal texts. It could ensure better protection of the rights of Russian legal entities abroad.
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Dmitriev, Alexandre, and Ivo Krznar. "HABIT PERSISTENCE AND INTERNATIONAL COMOVEMENTS." Macroeconomic Dynamics 16, S3 (August 16, 2011): 312–30. http://dx.doi.org/10.1017/s1365100510000957.
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Theoretically, two-country real business cycle models with time-separable preferences and complete markets predict that cross-country investment correlations will be negative. The opposite is true in the data. This phenomenon has been described by Backus et al. [in Cooley (ed.),Frontiers of Business Cycle Research, pp. 331–356 (Princeton, NJ: Princeton University Press, 1995)] as a quantity anomaly. This paper proposes to address this discrepancy by allowing the nonseparability of preferences over time. Here, we incorporate internal habit formation into consumption. Our model predicts the empirically plausible value of cross-country investment correlation without sacrificing other business cycle statistics. The results are robust to the degree of spillovers and persistence in the specification of the productivity shocks.
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Sadig, Ali Al. "Do International Investment Agreements promote Foreign Direct Investment?" International Journal of Trade and Global Markets 4, no. 1 (2011): 25. http://dx.doi.org/10.1504/ijtgm.2011.037887.
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Bond, Michael T., and Jack H. Rubens. "Inflation Hedging Through International Equity Investment." Journal of Applied Business Research (JABR) 8, no. 2 (October 18, 2011): 107. http://dx.doi.org/10.19030/jabr.v8i2.6172.
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For years common stock were thought to be an effective inflation hedge. The dismal performance of domestic equities in the 1970s was, thus, completely unanticipated. A possible method for improving stock portfolio performance on a period-by-period basis vs. inflation would be the inclusion of foreign equities. Regression analysis of various foreign equity markets and internationally efficient portfolios vs. measures of actual, expected and unexpected inflation indicated that including non-US equities in portfolios did not protect investors from inflation on a period-by-period basis in the 1970-88 time period.
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Ortino, Federico, and Karl P. Sauvant. "Extending International Legal Aid from Trade to Investment: An Advisory Centre on International Investment Law." Global Trade and Customs Journal 16, Issue 10 (October 1, 2021): 548–54. http://dx.doi.org/10.54648/gtcj2021066.
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Several mechanisms at the international level provide legal aid to lower-income States to strengthen ‘access to justice’ and ‘equality among States’, whether through direct financial support or institutional legal assistance. After reviewing the concept of international legal aid, this article makes the case for the creation of an Advisory Centre on International Investment Law (ACIIL) to provide support to respondent States involved in disputes brought by private investors based on international investment treaties and other instruments, as part of investor-State dispute settlement (ISDS). The increasing costs, complexity and number of investor-State arbitrations has strengthened the need for an international legal aid mechanism in this area, to put under-resourced developing countries in a better position to have affordable access to justice and defend themselves adequately in international investment disputes. This would level the playing field, strengthen the confidence of governments in a reformed investment regime and thereby enhance its legitimacy. Drawing on the experience of the Advisory Centre on WTO Law (ACWL), the article discusses the rationale, key features and current policy challenges of an Advisory Centre on International Investment Law. Advisory Centre on WTO Law, Advisory Centre on International Investment Law, international legal aid, access to justice, investor-state disputes, international investment law, multinational enterprises
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Stockhammer, Engelbert, and Lucas Grafl. "Financial Uncertainty and Business Investment." Review of Political Economy 22, no. 4 (October 2010): 551–68. http://dx.doi.org/10.1080/09538259.2010.510317.
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THANH, VU HUU, NGUYEN MINH HA, and MICHAEL MCALEER. "ASSET INVESTMENT DIVERSIFICATION, BANKRUPTCY RISK AND THE MEDIATING ROLE OF BUSINESS DIVERSIFICATION." Annals of Financial Economics 16, no. 01 (March 2021): 2150001. http://dx.doi.org/10.1142/s2010495221500019.
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This paper explores the structural relationship among asset investment diversification, business diversification and the bankruptcy risk of firms. Asset investment diversification is divided into two components, namely related and unrelated asset investment diversification, while business diversification includes related and unrelated business diversification. In the hypothetical relationship, business diversification is proposed to play a mediating role to explain the effect of asset investment diversification on bankruptcy risk. Specifically, related and unrelated asset investment diversification affect bankruptcy risk through two mediators, namely related and unrelated business diversification. Hence, it is vital to employ the general linear structural model (GSEM) with panel data on 470 businesses publicly listed in Vietnam from 2008 to 2017. Surprisingly, the empirical results show that both related and unrelated asset diversification have positive impacts on bankruptcy risk. Nevertheless, only related business diversification plays a mediating role between related asset diversification and bankruptcy risk, while unrelated business diversification has an insignificant mediating effect on the relationship between unrelated asset diversification and bankruptcy risk.
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Larina, Tetiana, and Olena Potyshnyak. "Forming investment strategy of international economic actor." Actual problems of innovative economy, no. 3 (May 30, 2019): 5–11. http://dx.doi.org/10.36887/2524-0455-2019-3-1.
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As a starting hypothesis is the fact of non-universality of the existing mechanisms of investment strategy formation is accepted, which necessitates their improvement and adaptation taking into account the variability of the environment and current tendencies of development of international economic relations. The purpose of the work was to analyze theoretical provisions and develop practical recommendations for improving the efficiency of the enterprise investment strategy formation as a international economic actors. The most important objective factors are the effective formation and use of financial resources in ensuring the development of an enterprise at the present stage of international business operation, which is primarily related to the use of new systems and methods of managing these processes. Considerable influence on the market situation of instability factors is taken into account. It is proved that under these conditions the role of investment strategy, which provides priority directions of enterprise development in international business, is significantly increasing. One of the important steps in the process of developing an investment strategy is to analyze the financial position of the company. The potential of tools and methods of economic and mathematical financial analysis is revealed for forming an effective investment strategy of enterprises - subjects of international business. It is concluded that the investment strategy of the enterprise - international economic actors is described by a balanced system of integral and integrated indicators of investing capital expediency in the investing object, which reflects the pro-spects of development, efficiency of resources using and assets, their liquidity, solvency status and financial stability as well as some informal aspects of the enterprise. Cluster analysis, matrix analysis, taxonomic analysis have been presented as the most promising and effective ones. The methods of their use for practical application in investment management are present-ed. Keywords: investment strategy, international economic relations, cluster analysis, matrix analysis, taxonomic analysis.
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Sadayuki, Taisuke, Kei Harano, and Fukuju Yamazaki. "Market transparency and international real estate investment." Journal of Property Investment & Finance 37, no. 5 (August 5, 2019): 503–18. http://dx.doi.org/10.1108/jpif-04-2019-0043.
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Purpose The purpose of this paper is to provide new empirical evidence on the important role of market transparency in international real estate investment. Design/methodology/approach The authors apply the augmented panel regression method (or the correlated random effects approach) by using national panel data from 44 countries from 2004 to 2016. Findings Countries with better accessibility to market information and higher enforceability of regulations have less information asymmetry and attract more inward real estate investment. In contrast, the accounting quality of corporate governance is negatively correlated with investment, indicating the possibility that foreign investors enjoy high excess returns by investing in real estate in countries with poor accounting quality. Practical implications Countries lacking market transparency can increase inward investments by providing richer market information to foreign investors and by boosting enforceability of regulation to mitigate the uncertainty of returns on investment. Investors and public sectors in countries facing a saturated real estate market may expand investment by investigating less-explored markets and by seeking bilateral negotiations to secure higher predictability of return on investment in targeted countries. Originality/value The authors utilize updated multiple transparency indices instead of a conventional aggregate index to examine how the investment is attributed to different aspects of market transparency and employ the augmented panel regression method for investigation of the intra- and international determinants of the investment.
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Skobeleva, O. A., E. V. Kutyashova, and N. A. Chirkova. "COMPETITIVENESS OF RUSSIA IN INTERNATIONAL BUSINESS." Bulletin of Udmurt University. Series Economics and Law 32, no. 2 (April 8, 2022): 279–86. http://dx.doi.org/10.35634/2412-9593-2022-32-2-279-286.
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Тhis article discusses the main aspects and problems of the competitiveness of the Russian Federation in the international arena. In the context of the global crisis phenomena, the problem of the formation of sustainable competitiveness has acquired particular relevance due to the increase in the variability of the external environment. In the context of the intensification of the struggle for each country, the task of maintaining and improving its own competitiveness comes to the fore. Its most important manifestations are the transnationalization of entrepreneurial activities of firms and the rapid development of information technologies, which largely determine the competitiveness of the subjects of the world economy. For the current period, the main problems of Russia's competitiveness are: a low level of quality of state institutions, indicators of investment in traditional and technological infrastructure, in education and continuous professional development of the workforce (it is specialists with technical education that the economy needs), indicators of the state of infrastructure (the degree of compliance of market infrastructure with business needs, the development of basic, technological, scientific, information and social infrastructure), therefore, the relevance of the study is justified by Russia's low positions as a competitive state on the world stage, while having high economic, political and resource potential, as well as the main center of gravity of foreign investment. One of the proposed options is to increase the level of competitiveness. This model will allow us to achieve the main goal of the study - to improve Russia's competitiveness in the international market.
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Skobeleva, O. A., E. V. Kutyashova, and N. A. Chirkova. "COMPETITIVENESS OF RUSSIA IN INTERNATIONAL BUSINESS." Bulletin of Udmurt University. Series Economics and Law 32, no. 2 (April 8, 2022): 279–86. http://dx.doi.org/10.35634/2412-9593-2022-32-2-279-286.
Full textAbstract:
Тhis article discusses the main aspects and problems of the competitiveness of the Russian Federation in the international arena. In the context of the global crisis phenomena, the problem of the formation of sustainable competitiveness has acquired particular relevance due to the increase in the variability of the external environment. In the context of the intensification of the struggle for each country, the task of maintaining and improving its own competitiveness comes to the fore. Its most important manifestations are the transnationalization of entrepreneurial activities of firms and the rapid development of information technologies, which largely determine the competitiveness of the subjects of the world economy. For the current period, the main problems of Russia's competitiveness are: a low level of quality of state institutions, indicators of investment in traditional and technological infrastructure, in education and continuous professional development of the workforce (it is specialists with technical education that the economy needs), indicators of the state of infrastructure (the degree of compliance of market infrastructure with business needs, the development of basic, technological, scientific, information and social infrastructure), therefore, the relevance of the study is justified by Russia's low positions as a competitive state on the world stage, while having high economic, political and resource potential, as well as the main center of gravity of foreign investment. One of the proposed options is to increase the level of competitiveness. This model will allow us to achieve the main goal of the study - to improve Russia's competitiveness in the international market.
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Skobeleva, O. A., E. V. Kutyashova, and N. A. Chirkova. "COMPETITIVENESS OF RUSSIA IN INTERNATIONAL BUSINESS." Bulletin of Udmurt University. Series Economics and Law 32, no. 2 (April 8, 2022): 279–86. http://dx.doi.org/10.35634/2412-9593-2022-32-2-279-286.
Full textAbstract:
Тhis article discusses the main aspects and problems of the competitiveness of the Russian Federation in the international arena. In the context of the global crisis phenomena, the problem of the formation of sustainable competitiveness has acquired particular relevance due to the increase in the variability of the external environment. In the context of the intensification of the struggle for each country, the task of maintaining and improving its own competitiveness comes to the fore. Its most important manifestations are the transnationalization of entrepreneurial activities of firms and the rapid development of information technologies, which largely determine the competitiveness of the subjects of the world economy. For the current period, the main problems of Russia's competitiveness are: a low level of quality of state institutions, indicators of investment in traditional and technological infrastructure, in education and continuous professional development of the workforce (it is specialists with technical education that the economy needs), indicators of the state of infrastructure (the degree of compliance of market infrastructure with business needs, the development of basic, technological, scientific, information and social infrastructure), therefore, the relevance of the study is justified by Russia's low positions as a competitive state on the world stage, while having high economic, political and resource potential, as well as the main center of gravity of foreign investment. One of the proposed options is to increase the level of competitiveness. This model will allow us to achieve the main goal of the study - to improve Russia's competitiveness in the international market.
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Moon, Soojae. "Endogenous Tradability, International Relative Prices, and the International Transmission of Business Cycles." Research in Applied Economics 11, no. 3 (October 29, 2019): 111. http://dx.doi.org/10.5296/rae.v11i3.15272.
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This paper propose a two-country, dynamic, stochastic, general equilibrium (DSGE) model with endogenous tradability, product differentiation, variously determined physical capital, and an elastic labor supply to explore the propagation of business cycles across countries. The model successfully addresses international relative price dynamics (its appreciation with positive home productivity shock, called the ‘Harrod-Balassa-Samuelson Effect’) through the entry of producers and their cut-off productivities of exporting. The use of endogenous physical capital in the model induces a more realistic framework since the simulated model is compared to the U.S. investment data that covers spending on capital equipment, structures and inventories for producers’ entry and exit dynamics. Building the model with endogenous capital and elastic labor supply weakens the volatility of investment compared to conventional international real business cycle (IRBC) models. The model also accounts for several features of the data, such as the volatility of aggregate variables and their correlations with GDP.
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Folkvord, Benn, and Michael Riis Jacobsen. "Corporate income tax and the international challenge." Nordic Tax Journal 2014, no. 2 (November 1, 2014): 55–87. http://dx.doi.org/10.1515/ntaxj-2014-0019.
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Abstract Although globalization has contributed immensely to growth and prosperity around the world, it is a growing challenge for tax policy makers. Globalization and greater mobility of tax bases increase the relative importance of taxes in corporations’ investment decisions. The combination of highly mobile capital, inadequacies in existing tax laws and a total change of international business environment have led to the fundamental problem in international tax law labeled by the OECD as the problem of BEPS (Base Erosion and Profit Shifting), along with severe competition among countries to attract investments and business activities. These challenges are the topic for the 2014 seminar of the Nordic Tax Research Council. Based on the Nordic national reports we discuss these challenges
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Visaltanachoti, Nuttawat, Robin Luo, and Cai Wei. "The international evidence of pecking order and trade-off predictions." Corporate Ownership and Control 7, no. 4 (2010): 183–96. http://dx.doi.org/10.22495/cocv7i4c1p3.
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This paper investigates the pecking order and trade-off hypotheses of corporate financing decisions for a sample of 74 countries from 1993 to 2003. Overall, the results confirm predictions shared by the trade-off and pecking order models in that the payout ratio is positively related to profitability and negatively related to investment opportunities, target leverage and volatility. The present study also provides favorable evidence to the pecking order model in that more profitable firms are less levered. Firms with more investments have lower long-term dividend payouts, but dividends do not vary to accommodate short-term variation in investment.
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Gribinichenko, L. O. "INVESTMENT PARTNERSHIP AGREEMENT AS A LEGAL FORM OF VENTURE FINANCING." Ex jure, no. 2 (2018): 51–63. http://dx.doi.org/10.17072/2619-0648-2018-2-51-63.
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this article is dedicated to the analysis of the features of the investment partnership contract as a legal form of venture investment. The author reveals the key features of the investment partnership, which allow delimitation from the adjacent legal phenomena. The advantages of venture business in the form of an investment partnership are highlighted: the possibility of simultaneous participation of investors in several investment partnerships; the possibility of the investor to exit from the investment partnership; the absence of restrictions related to the participation of non-profit organizations in the investment partnership; the possibility of making incremental contributions and imposing sanctions when they are not implemented; maximum confidentiality of joint activities; limitation of investor responsibility; a relatively simple and rapid procedure of terminating the activity. Based on the conducted research, the author concluded that investment partnership is the most flexible and effective legal structure that meets the specific requirements of international and domestic business practices for implementing venture investments.