MACRO LEVEL DRIVERS OF GLOBALIZATION IN INDIAN AND CHINESE SERVICE ORGANIZATIONS: AN EMPIRICAL STUDY

Subramaniam Ananthram,Cecil Pearson People&Global Business Association 2007 Global Business and Finance Review Vol.12 No.3

Cross-border trade across disappearing geographic boundaries has been the most important factor that has led to the intensification of economic globalization in the past two decades. Major political, legal and economic reform measures at the national level have been the driving force for economic globalization across developed and developing countries across the globe. In the services industry, generally, reforms at the national level include government controlled deregulation of industries, foreign investment allowances and licencing. These government led reforms have been pivotal towards the global resurgence in the demand and provision of services across the global marketplace. It is contended in this paper that there are three other forces, besides 'government' enablers that are necessitating these changes at the national level. These forces are 'market', 'cost', and competition. Collectively, these four forces shape globalization. The impact and importance of these forces was examined with data that were obtained from a study with indigenous managers employed in the service industry in China (n = 210) and India (n = 239). Employing a pluralist (quantitative and qualitative procedures) design, the data reveal market forces were of the most overall importance in both nations. However, for different service sectors, the impact and intenstity of the principal force varied. Experimental evidence obtained from indigenous service industy managers in India and China through qualitative focus groups and one-on-one interviews are utilized to explain and justify the quantitative rankings in the discussion section. Further, the implications of the findings for global business are elucidated in the concluding section.

THE IMPACT OF TOP MANAGEMENT TEAM CHARACTERISTICS ON CORPORATE REFOCUSING IN U.S. FIRMS

Hema A Krishnan,Dae woo Park People&Global Business Association 2001 Global Business and Finance Review Vol.6 No.2

Refocusing was one of the major strategies pursued by large U.S. organizations in the late 1980s and early 1990s. Our study extends the studies of previous research in the upper echelons field by examining the relationship between top management team (TMT) traits and corporate refocusing. Our results reveal that higher average age is positively related to two measures of refocusing, namely, downsizing and change in core business. Organizational tenure is negatively related to change in core business, and mean educational level is positively related to change in core business. There was no relationship between these demographic traits and productivity, the third measure of refocusing.

Real Exchange Rate Anomalies in China: Sterilization by the People and Trade Liberalization

Man-Ching Stella Chan People&Global Business Association 2015 Global Business and Finance Review Vol.20 No.2

When a fixed exchange rate country is faced with a sudden increase in foreign exchange inflows, its economy would normally experience higher inflation and real exchange rate appreciation. Between 1998 and 2006, however, China underwent a period of surging influx of foreign exchange and accumulation of vast reserves with little inflation or changes in the real exchange rate. Instead of sterilization by the central bank, this paper argues that the small change was largely due to “sterilization by the people”—the public voluntarily increased their holdings of monetary balances because of a rise in income or change in preferences—hence alleviating the inflationary pressure on the economy. In addition, the easing of import restrictions also helped offset some of the extra foreign exchange coming into China. An open economy model that highlights the role of the monetary approach is used to demonstrate how increased money demand and trade liberalization can mitigate the impact of the inflows on the domestic price level and the real exchange rate.

Analysis of MICE Competition Among International Conference Cities: Using Niche Theory

변효정(Hyojeong, Byun) People&Global Business Association 2021 Global Business and Finance Review Vol.26 No.4

Purpose: The purpose of this study is to understand the competition among international conference cities in South Korea by applying the theory, which is useful for understanding the relationships among individual (industry) groups competing for limited resources. Design/methodology/approach: In this study, data on MICE events (government meeting, corporate meeting, association/group meeting, etc.) held in 2019 in 10 international conference cities including the hosting organizations, event topics, event scales, and conference facilities were completely enumerated, and analyses were attempted. Findings: As a result of the breadth analysis, Changwon (host organization, event topic), Daejeon (event topic, event scale), and Goyang (conference facility) were found to have strong specialized natures. Meanwhile, as a result of the overlap analysis, it was found that Daegu and Gyeongju were in competition with each other according to hosting organizations, Jeju and Gwangju, and Busan and Daejeon according to the scales of events, and Seoul and Daegu, and Changwon and Incheon according to the types of events, Daejeon and Goyang according to event topics, and Changwon and Daegu, and Changwon and Seoul according to conference facilities. Research limitations/implications: Through the findings of this study, implications helpful for the establishment of differentiation strategies for international conference cities were provided. Therefore, although efforts were made to collect data close to complete enumeration, the possibility that there may be missing data cannot be eliminated. Originality/value: This study is meaningful in that presents strategies that help establish differentiation strategies for each International conference cities.

GOING GLOBAL: THE CULTURAL DECISION

Donald L Bates People&Global Business Association 1997 Global Business and Finance Review Vol.2 No.1

This paper reports on the results of an investigation into the organizational culture of U.S. based businesses and th eir foreign operations. Its purpose is to examine whether the foreign units have the cultures of their host country or the implanted cultures of their home base organizations. Five-hundred twenty five managers were interviewed and ask to complete questionnaires regarding the organization's climate in their part of the organization. The data cast doubt on the cultural accommodation model and suggest that, under these limited circumstances, there is support for the argument of a generic managerial culture that crosses international boundaries.

A TEST OF A MANDATED ACCOUNTING CHANGE: CONSOLIDATION STANDARD AASB 1024

Jean Canil,Bruce Rosser People&Global Business Association 2005 Global Business and Finance Review Vol.10 No.1

Corporate disinvestments and liquidations of 'controlled associates' are found to have coincided with the introduction of the amended Australian consolidation Standard AASB 1024 which mandated consolidation of controlled associate assets and liabilities that had previously been excluded from group financial statements. Reporting higher-than-expected group debt is argued to be costly in the presence of information asymmetry. Strong evidence is found that firms reducing equity ownership in or liquidating many of their controlled associates exhibited lower net-of market returns relative to firms that did not. From this we infer the former firms faced higher disclosure costs.

THE PARADOX OF THE NORTH KOREAN FINANCIAL POSITION

Jacques G Boettcher People&Global Business Association 2004 Global Business and Finance Review Vol.9 No.1

The Democratic People's Republic of Korea (DPRK) emerges in 2003 in a most unenviable position. The North Korean Constitution steadfastly upholds the Socialist ideology, but as North Korea moves faster and closer to the implementation of this doctrine, it becomes increasingly dependent upon foreign capital investment and technology. This has forced North Korea to increasingly break from the Marxist-Leninist constraint and to develop and modify some thirty-jive new laws to calm the wary foreign investor. Now the Foreign Trade Act of February 2001, and the Enforcement Decree of the Foreign Investment Protection Act of December 2001, widens the cracks in the heretofore-concrete socialist Constitutional faith.

AN EXAMINATION OF CAPITAL MARKET INTEGRATION: IMPLICATIONS FOR GLOBAL DIVERSIFICATION

Theodor Kohers,Vivek Pandey,Ninon Kohers People&Global Business Association 1996 Global Business and Finance Review Vol.1 No.2

Over the years, the potential benefit of international diversification have been well-documented in the finance literature. However with the recently accelerated trend towards global integration. of financial markets, the positive effects of such international diversification efforts may have diminished. To address this issue, this study provides updated evidence on the benefits of international diversification and the consistency of correlations between the U.S. and other countries. While there is evidence of movements towards greater integration of some financial markets, a sufficient degree of diversity is still inherent in foreign stock markets, creating opportunities for significant benefits from international portfolio diversification.

An Intelligent System for Business Data Mining

Shian Chang Huang,Tung Kuang Wu,Nan Yu Wang People&Global Business Association 2017 Global Business and Finance Review Vol.22 No.2

Mining high-dimensional business data is a challenging problem. Particularly in bankruptcy predictions, we need to analyze large amounts of information from financial statements and stock markets. This paper proposes a new strategy to deal with the problem. Because of the highly correlation among financial information, this study employed a technique called generalized discriminant analysis (GDA) to identify important features and reduce the data dimension. GDA is a nonlinear discriminant analysis using kernel function operator. It’s easy to deal with a wide class of nonlinearity in financial data, and can reduce the computational loading of subsequent prediction classifier. Due to the promising success of kernel machines in many applications, this study utilized a generalized multiple kernel machine (GMKM) to serve as the predictor. Combining the strengths of GDA and GMKM, our system robustly outperforms traditional prediction systems.

REASONS FOR DOING BUSINESS WITH NORTH KOREA

Trevor Crick,Suk Hi Kim,Eugene Swinnerton People&Global Business Association 2004 Global Business and Finance Review Vol.9 No.1

Loss of allies in the early 1990s, consecutive floods in 1995 and 1996, and a severe drought in 1997 shrunk the North Korean economy. While North Korea had gradually reformed its troubled economic system in the 1990s, these measures were limited and different from market-oriented reform. Inter-Korean relations have improved significantly since the historical encounter of two Korean leaders on June 13, 2000. In July 2002, North Korea introduced liberalization measures, the most significant since the start of communist rule in I 948 (French, 2002). The conventional explanation for this sudden reversal of North Korean economic policy is that it is desperate for external economic assistance and investment. Such an open-door policy creates opportunities and challenges for foreign governments, companies, and individuals. This paper discusses reasons to do business with North Korea, entry modes of North Korean markets, differences in management style between Western and Asian corporations, and political risk analysis.