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Article
Publication date: 28 October 1999

Marilyn Kintzele, Philip Kintzele and Vernon Kwiatkowski

The Year 2000 represents a significant challenge for many organizations. Financial report users, which include investors,creditors, suppliers, customers, employees, as well as…

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Abstract

The Year 2000 represents a significant challenge for many organizations. Financial report users, which include investors,creditors, suppliers, customers, employees, as well as others,have an interest in knowing how organizations are dealing with the Year 2000 issue. There could be significant negative consequences for organizations that fail to properly address the Year 2000 issue. Public corporations that have material issues associated with the Year 2000 issue are required by the United States Securities and Exchange Commission (SEC) to disclose specific information in their annual financial reports. This paper introduces the Year 2000 issue and reviews the development of public corporation annual report disclosures that are required and recommended by the SEC. The annual reports of 51 companies, which had fiscal years ending in the last half of 1998, were selected from the S&P 500 and were examined for the quality and quantity of Year 2000 disclosures. While all of the companies examined provided some Year 2000 disclosures, very few of the companies provided all of the required and recommended practices set forth by the SEC and some appeared to report in a severely deficient manner.

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American Journal of Business, vol. 14 no. 2
Type: Research Article
ISSN: 1935-519X

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Publication date: 17 November 2003

B.Anthony Billings, Gary A. McGill and Mbodja Mougoué

This article examines the sensitivity of U.S. exports to the availability of export incentives offered under the Domestic International Sales Corporation (DISC) and the Foreign…

Abstract

This article examines the sensitivity of U.S. exports to the availability of export incentives offered under the Domestic International Sales Corporation (DISC) and the Foreign Sales Corporation (FSC) provisions of U.S. tax law. Evidence on the efficacy of export tax incentives is mixed. The history of the DISC/FSC tax incentives provides a natural experiment to address the question of the effect of tax incentives on export volume. We examine the relation of U.S. export volume to the availability of these export tax incentives from 1967 to 1998, controlling for product class and important macroeconomic variables, and find evidence of a positive association between the level of U.S. exports and the existence of the export incentives offered under the DISC/FSC provisions. However, this association depends on product type. Our findings using actual export data are independent of otherwise available data demonstrating a general growth in the use of DISC/FSC entities and the sales volume of these entities. The latter data suffer from an interpretation problem because changes in the number of special export entities used and their sales volume do not necessarily correlate with changes in actual export levels over time. The approach we use in this study is an attempt to overcome this limitation. The reported results have implications for both tax policy regarding the design of export tax incentives and the European Union’s claim that U.S. export tax incentives have damaged U.S. competitors in foreign trade.

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Advances in Taxation
Type: Book
ISBN: 978-0-76231-065-4

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Publication date: 4 March 2021

Sergio Mariotti and Riccardo Marzano

This chapter sheds light on how the internationalization of state-owned enterprises (SOEs) is jointly influenced by the ownership involvement of the state and other relational…

Abstract

This chapter sheds light on how the internationalization of state-owned enterprises (SOEs) is jointly influenced by the ownership involvement of the state and other relational investors and by the home country’s institutional setting. It integrates international business literature and insights from the theory of corporate governance into a varieties of capitalism framework. Taking a configurational perspective, the interdependencies that link the SOE internationalization to the joint effects of particular combinations of actors and institutions are analyzed. As a result, it is argued that only a few home country–SOE governance configurations favor the expansion of SOEs abroad: (i) a configuration in which the state is a dominant owner capable of aligning the interests of any other private shareholder and the government is embedded in a proactive institutional context, so as to effectively orchestrate the internationalization process, (ii) a configuration in which, assuming the home country institutions markedly deficient in supporting interventions, relational co-owners are involved in SOE ownership and governance and have commitment, influential power, and competencies to equip the company with an effective strategy and competitive advantages to be exploited abroad. In all other configurations, the international performance of SOEs is worse, being undermined by institutional contexts that favor an inward-looking approach of the state and government, and/or by principal–principal agency problems.

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The Multiple Dimensions of Institutional Complexity in International Business Research
Type: Book
ISBN: 978-1-80043-245-1

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Article
Publication date: 26 January 2010

Godfred A. Bokpin

The purpose of this paper is to examine the effects of financial market development on corporate financing of emerging market firms to ascertain whether or not interactions in the…

12265

Abstract

Purpose

The purpose of this paper is to examine the effects of financial market development on corporate financing of emerging market firms to ascertain whether or not interactions in the financial market has any impact on the available choice of financing of firms.

Design/methodology/approach

Panel data covering the period 1990‐2006 for 34 emerging market economies were analyzed within the framework of Pesaran's dynamic fixed effect model and the pooled mean group estimator to capture the short‐ and long‐run effects of the covariates on the endogenous variables.

Findings

The findings of the research indicate significantly that the direction and magnitude of the impact of financial market development and macroeconomic variables on capital structure vary with the maturities of the security issue. It is also documented that firm level variables such as profitability, investment opportunity, asset tangibility and risk are equally important in predicting firms' capital structure decisions. The findings also indicate that economy wide variables such as gross domestic product per capita are significant predictors of financing choices of firms. The results of the study generally support existing literature on the impact of financial market development, macroeconomic variables and certain firm level factors on capital structure.

Originality/value

The paper considers unique data from emerging market economies over a 17‐year period.

Details

Journal of Economic Studies, vol. 37 no. 1
Type: Research Article
ISSN: 0144-3585

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Publication date: 26 September 2022

James Nolan and Zoe Laulederkind

“Cargo tariffs are agreed through the IATA machinery, and in theory approved by governments….the IATA Tarff Coordination Conferences still agree cargo tariffs on over 200,000…

Abstract

“Cargo tariffs are agreed through the IATA machinery, and in theory approved by governments….the IATA Tarff Coordination Conferences still agree cargo tariffs on over 200,000 separate routes. But these tariffs bear little relevance to what is actually charged in the marketplace.” (Doganis, 2002)

“The stipulations ICAO standards contain never supersede the primacy of national regulatory requirements. It is always the local, national regulations which are enforced in, and by, sovereign states, and which must be legally adhered to by air operators making use of applicable airspace and airports……ICAO is therefore not an international aviation regulator, just as INTERPOL is not an international police force. We cannot arbitrarily close or restrict a country's airspace, shut down routes, or condemn airports or airlines for poor safety performance or customer service. Should a country transgress a given international standard adopted through our organization, ICAO's function in such circumstances…….is to help countries conduct any discussions, condemnations, sanctions, etc., they may wish to pursue, consistent with the Chicago Convention and the Articles and Annexes it contains under international law.” (ICAO, 2021)

In spite of being a growing liberalized global industry served by many firms, much of the international air cargo sector operated as an admitted cartel from 1999 through 2006. Partly due to the way the cartel was discovered, it seems very little empirical analysis to date has been done about the case. We use publicly available airline data to examine whether a diligent antitrust authority could have identified cartel/collusive behavior using established empirical methods. Our findings point to a regulatory failure in an industry whose long-standing business practices effectively “slipped through the cracks,” failing to protect the many shippers of air cargo.

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The International Air Cargo Industry
Type: Book
ISBN: 978-1-83909-211-4

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Article
Publication date: 1 February 2016

Mathavee Keorite and Mohamed Moubarak

This study aims to analyze the effect of inward foreign direct investment (FDI) on new job creation. This study pays attention to factors interrelated to China’s FDI by using the…

2291

Abstract

Purpose

This study aims to analyze the effect of inward foreign direct investment (FDI) on new job creation. This study pays attention to factors interrelated to China’s FDI by using the case of Thailand.

Design/methodology/approach

Using time series data from 2001 to 2014, this paper explores the driving forces and reduction potentials of employment in Thailand’s industrial sector with consideration for dynamic changes within the vector autoregression model.

Findings

The results show that government expenditure plays a dominant role in increasing employment in Thailand’s industrial sector and exports plays a dominant role in decreasing employment in Thailand’s industrial sector. All variables are co-integrated and the analysis of the impulse–response function also turns out to be synchronous. Furthermore, in the short term, exports are more critical than China’s FDI in industrial sectors in reduction potentials of employment in Thailand’s industrial.

Practical/implications

Policies should be devised to increase skilled labour and improve the equality of infrastructure in the country to attract more FDI into the economy and for quick adjustment purposes in case of shock to the system.

Originality/value

The paper uncovers some important factors influencing employment in Thailand’s industrial sector under study and provides a guide-map for policymakers.

Details

Journal of Chinese Economic and Foreign Trade Studies, vol. 9 no. 1
Type: Research Article
ISSN: 1754-4408

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Article
Publication date: 28 March 2023

Surbhi Gupta, Surendra S. Yadav and P.K. Jain

This study attempts to assess the role that institutional quality (IQ) plays in influencing inflows and outflows of Foreign Direct Investment (FDI) for BRICS nations as burgeoning…

539

Abstract

Purpose

This study attempts to assess the role that institutional quality (IQ) plays in influencing inflows and outflows of Foreign Direct Investment (FDI) for BRICS nations as burgeoning FDI is flowing into and out of these countries. Moreover, this paper explores the impact of individual governance indicators separately on the FDI flows.

Design/methodology/approach

The study analyses this nexus for these emerging economies for the period 1996–2019 using autoregressive distributed lag technique.

Findings

The study indicates a significant and positive coefficient for IQ in India and South Africa, suggesting that improving IQ would enhance the IFDI. However, for outward FDI (OFDI)–IQ linkage, the results show a negatively significant impact of IQ on OFDI for Brazil and Russia. Additionally, the authors observe control of corruption as a significant institutional component for attracting inward FDI for Brazil, India and South Africa, whereas it is an insignificant factor for Russia and China. Further, the authors notably find that upgrading the governance indicators will decrease the level of OFDI for Brazil, Russia, China and South Africa. On the contrary, findings suggest that improving the IQ will foster the OFDI for India.

Originality/value

This study uses time-series analysis instead of cross-country analysis (used extensively in literature), avoiding heterogeneity. Further, this study explores the IFDI–IQ link for BRICS nations, which are captivating a significant chunk of IFDI, and still not given much attention in the extant literature. Moreover, the authors identify the impact of IQ on the OFDI, neglected by the existing studies.

Details

International Journal of Emerging Markets, vol. 19 no. 12
Type: Research Article
ISSN: 1746-8809

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Article
Publication date: 2 December 2021

Pushp Kumar, Naresh Chandra Sahu, Mohd Arshad Ansari and Siddharth Kumar

The paper investigates the effects of climate change along with ecological and carbon footprint on rice crop production in India during 1982–2016.

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Abstract

Purpose

The paper investigates the effects of climate change along with ecological and carbon footprint on rice crop production in India during 1982–2016.

Design/methodology/approach

The autoregressive distributed lag (ARDL), canonical cointegration regression (CCR) and fully modified ordinary least square (FMOLS) models are used in the paper.

Findings

A long-run relationship is found between climate change and rice production in India. Results report that ecological footprint and carbon footprint spur long-term rice production. While rainfall boosts rice crop productivity in the short term, it has a negative long-term impact. Further, the findings of ARDL models are validated by other cointegration models, i.e., the FMOLS and CCR models.

Research limitations/implications

This study provides insights into the role of ecological footprint and carbon footprint along with climate variables in relation to rice production.

Originality/value

In the literature, the effects of ecological and carbon footprint on rice production are missing. Therefore, this is the first study to empirically examine the impact of climate change along with ecological footprint and carbon footprint on rice production in India.

Details

Journal of Agribusiness in Developing and Emerging Economies, vol. 13 no. 2
Type: Research Article
ISSN: 2044-0839

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