Foreign Equity Joint Ventures in China: Interactions between Government Policies and Multinational Investment Strategies

1998 ◽  
pp. 135-159
Author(s):  
Danny Van Den Bulcke ◽  
Haiyan Zhang
Keyword(s):  
Joint Ventures ◽  
Government Policies ◽  
Investment Strategies

scholarly journals Од заједничких улагања до самосталних инвестиционих стратегија уласка на тржишта БРИК земаља // From joint ventures to independent investment strategies of entering the markets of BRIC countries

2012 ◽  
Vol 10 (16) ◽  
pp. 85
Author(s):  
Бранко Ракита ◽  
Душан Марковић
Keyword(s):  
Joint Ventures ◽  
Political Influence ◽  
Business Environment ◽  
Business Strategies ◽  
World Population ◽  
Foreign Direct Investments ◽  
Investment Strategies ◽  
Global Level ◽  
Bric Countries ◽  
New Business

Резиме: Прва деценија 21. века обележена је крупним социо – политичким, економским и технолошким променама на глобалном нивоу. Једна од главних промена у овој деценији је постепено, али сигурно, померање економске моћи са земаља „Тријаде“ на тзв. БРИК земље. Данас БРИК земље чине преко 40% светске популације, доприносе расту глобалног ГДП са преко 30% и чине преко 25% глобалног ГДП. Све прогнозе еминентних института и консултантских кућа говоре да ће БРИК земље у средњем року наставити са снажним растом, што ће допринети јачању њиховог економског и политичког утицаја на глобалном нивоу. Мултинационалне компаније (МНК) су тржишта земаља БРИК групације препознале као прилику за пословну експанзију с обзиром да се, до скора водећа, тржишта земаља Тријаде одликују оштром конкуренцијом и ниским стопама раста. Међутим, пословни амбијент на тржиштима БРИК земаља носи печат релативно неефикасних и специфичних институција због чега су МНК често принуђене да пословне стратегије које примењују на матичним тржиштима модификују. Модификација пословних стратегија се у претходном периоду огледала у огромном значају који су МНК давале заједничким улагањима са локалним партнерима у односу на самосталне инвестиционе стратегије. Последњих година је приметан раст како броја тако и вредности самосталних инвестиционих стратегија, што се објашњава стицањем пословног искуства у датом пословном амбијенту. За очекивати је да ће у будућности БРИК земље све већи проценат страних инвестиција привлачити у форми самосталних пројеката.Summary: The first decade of the 21st century was characterized by significant socio-economic and political changes and rapid technological progress on the global level. Among these changes gradual and steady shift of power from Triade countries to so called BRIC countries stands out. BRIC countries make more than 40% of world population, more than 25% of global GDP and contribute to the growth of global GDP by 30%. According to the mid-term prognosis of all the eminent research institutes and consulting agencies BRIC countries will continue their growth, which will increase their economic and political influence on the global level. Multinational companies (MNC) see BRIC countries as an opportunity to expand their businesses since, until recently leading markets of Triade countries are now depicted by sharp competition and low growth rates. Nevertheless, the institutions in BRIC countries are relatively inefficient and specific which makes MNCs modify the business strategies they apply in their home markets. At first, MNCs gave huge advantage to joint ventures with local partners over individual investments. Yet, over the past few years the number and value of individual investments have increased significantly due to valuable past experience in the new business environment. BRIC countries are expected to attract more foreign direct investments in the form of individual projects in the future.

scholarly journals An examination of value-added and variable cost trends across Canadian forest regions and sectors

2004 ◽  
Vol 80 (6) ◽  
pp. 718-726
Author(s):  
Van Lantz
Keyword(s):  
Regional Analysis ◽  
Value Added ◽  
Government Policies ◽  
Variable Cost ◽  
Forest Industry ◽  
Investment Strategies ◽  
Data Set ◽  
Seemingly Unrelated Regressions ◽  
Forest Region ◽  
Forest Regions

Value-added forestry has received much attention in the past few decades as a means of generating more output value for a given timber input. The growth in value-added production in the forest industry is directly affected by changing forest output/input prices, technology, investment strategies, government policies, and a host of other factors. Since many of these factors are unique to each forest region and sector in Canada, it is expected that one would observe a number of different value-added and variable cost trends over time. The purpose of this paper is to examine value-added and variable cost trends in five regions and three sectors of the Canadian forest industry over the 1970–95 period in order to shed light on those that are the most promising. A seemingly unrelated regressions technique is employed to the data set and findings reveal that a number of sectors and regions have exhibited favourable value-added/variable cost trends. Others, however, have not. Suggestions are made as to where future industry investments and government policies might be directed to aid in the development of value-added. Key words: Canadian forest industry, value-added, variable cost, profit, regional analysis, seemingly unrelated regressions

Markets for Purchased Farm Inputs

2005 ◽  
pp. 60-71
Author(s):  
E. Serova ◽  
O. Shick
Keyword(s):  
Agricultural Policy ◽  
Financial Constraints ◽  
Information Sources ◽  
Animal Feed ◽  
Government Policies ◽  
Market Institutions ◽  
Policy Makers ◽  
Government Organizations ◽  
The Impact ◽  
Farm Inputs

Russian policy makers argue that agriculture suffers from decapitalization due to financial constraints faced by producers. This view is the basis for the national agricultural policy, which emphasizes reimbursement of input costs and substitutes government and quasi-government organizations for missing market institutions. The article evaluates the availability of purchased farm inputs, the efficiency of their use, the main problems in the emergence of market institutions, and the impact of government policies. The analysis focuses on five groups of purchased inputs: farm machinery, fertilizers, fuel, seeds, and animal feed. The information sources include official statistics and data from two original surveys.

Pricing models of shares of Russian companies and their practical application

2019 ◽  
pp. 48-76 ◽  
Author(s):  
Alexander E. Abramov ◽  
Alexander D. Radygin ◽  
Maria I. Chernova
Keyword(s):  
Stock Market ◽  
Institutional Investors ◽  
Factor Model ◽  
Investment Strategies ◽  
Pricing Models ◽  
Foreign Portfolio Investment ◽  
Market Portfolio ◽  
Stock Market Performance ◽  
Long Time ◽  
Russian Stock Market

The article analyzes the problems of applying stock pricing models in the Russian stock market. The novelty of the study lies in the peculiarities of the methodology used and the substantive conclusions on the specifics of the influence of fundamental factors on the pricing of shares of Russian companies. The study was conducted using its own 5-factor basic pricing model based on a sample of the most complete number of issues of shares of Russian issuers and a long time horizon, from 1997 to 2017. The market portfolio was the widest for a set of issuers. We consider the factor model as a kind of universal indicator of the efficiency of the stock market performance of its functions. The article confirms the significance of factors of a broad market portfolio, size, liquidity and, in part, momentum (inertia). However, starting from 2011, the significance of factors began to decrease as the qualitative characteristics of the stock market deteriorated due to the outflow of foreign portfolio investment, combined with the low level of development of domestic institutional investors. Also identified is the cyclical nature of the actions of company size and liquidity factors. Their ability to generate additional income on shares rises mainly at the stage of the fall of the stock market. The results of the study suggest that as domestic institutional investors develop on the Russian stock market, factor investment strategies can be used as a tool to increase the return on investor portfolios.

The relation between R&D accounting treatment and the risk of the firm: Evidence from the Italian market

2014 ◽  
pp. 33-54 ◽  
Author(s):  
Riccardo Cimini ◽  
Alessandro Gaetano ◽  
Alessandra Pagani
Keyword(s):  
Earnings Management ◽  
Fiscal Year ◽  
Investment Strategies ◽  
Capital Assets ◽  
Italian Market ◽  
D Investment ◽  
Firm Evidence

In this paper, we investigate the relation between the different accounting treatments of R&D expenditures and the risk of the entity in order to identify under which treatment insiders are more likely to carry out earnings management. By analysing the R&D investment strategies of a sample of 137 listed Italian entities that complied with the requirements of IAS 38 during fiscal year 2009, following Lantz and Sahut (2005), we calculate several indexes that show the preferences of insiders to account R&D expenditures as costs or capital assets, and we study the relation of such preferences with the risk of the entity, which we measure with the unlevered beta. We hypothesize that the entities, which considered the R&D investments as costs, are the riskiest ones due to the higher probability that insiders carried out earnings management. Our results confirm such hypothesis. This paper could have implications for academics and standard setters that could learn that behind accounting discretion, insiders could opportunistically behave against outsiders.

Tourism awareness as a tourism development strategy: status of the issue

2020 ◽  
Vol 13 (9) ◽  
Author(s):  
M.I. Rosas-Jaco ◽  
S.X. Almeraya-Quintero ◽  
L.G. Guajardo-Hernández
Keyword(s):  
Development Strategy ◽  
Design Methodology ◽  
Local Development ◽  
Local Population ◽  
Host Community ◽  
Government Policies ◽  
Training Manual ◽  
Environmental Development ◽  
Main Engine ◽  
The Relationship

Objective: Tourism has become the main engine of economic, social and environmental development in several countries, so promoting tourism awareness among tourists and the local population should be a priority. The present study aims to suggest a status of the research carried out on the topic of tourism awareness. Design / methodology / approach: The type of analysis is through a retrospective and exploratory bibliometric study. The analysis materials were scientific articles and a training manual published between 2000 and 2020, registered by Scopus, Emerald insight and Dialnet, using “tourism awareness” as the keyword. Results: When considering the three senses in which tourism awareness ought to operate, it is concluded that studies are more focused on the relationship and contact of the host community with the tourist. It is observed that four out of six articles in this sense consider that education, training, and government policies around tourism awareness should be developed in a better way in the destinations, in order to be an element that contributes to the development of communities and reduces poverty in developing countries. Study limitations / implications: It is considered a limitation not to include thesis dissertations. Findings / conclusions: It is necessary to make visible the importance of tourism awareness as a local development strategy for communities, in addition to including tourism awareness on the part of tourists.

Joint ventures - wybrane problemy tworzenia

1993 ◽  
pp. 17-18
Author(s):  
Jerzy Jagoda
Keyword(s):  
Joint Ventures

Joint ventures - wybrane problemy tworzenia

ON-FARM FORESTRY DEVELOPMENT OPTIONS FOR NORTHLAND

1986 ◽  
pp. 27-32
Author(s):  
J.S. Clark
Keyword(s):  
Joint Ventures ◽  
Low Fertility ◽  
High Fertility ◽  
Financial Returns ◽  
Farm Forestry ◽  
Hill Country ◽  
Financial Position ◽  
On Farm

Agroforests and woodlots offer Northland hill country farmers investment and diversification opportunities. Agroforests have less effect on the "whole farm" financial position than woodlots, especially where a progressive planting regime is adopted and where no further borrowing is required. Establishment and tending costs for agro-forests are lower, and returns come much sooner. The proven opportunity for continued grazing under trees established in this manner, apart from a short post-planting period, further enhances the agroforesty option. Even where there is reluctance on a farmer's part to plant trees on high fertility land, the expected financial returns from agroforests on low and medium fertility land will increase the overall long-term profitability and flexibility of the whole farming operation. Woodlots may be more appropriate on low fertility areas where weed reversion is likely. Joint ventures may be worth considering where farm finances are a limited factor. Keywords: On-farm forestry development, Northland hill country, agroforestry, woodlots, diversification, joint ventures, progressive planting regimes, grazing availability.

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