Economic impact of political barriers to cross-border acquisitions: An empirical study of CNOOC's unsuccessful takeover of Unocal

2009 ◽  
Vol 15 (4) ◽  
pp. 447-468 ◽  
Author(s):  
Kam-Ming Wan ◽  
Ka-fu Wong
Keyword(s):  
Empirical Study ◽  
Economic Impact ◽  
Cross Border

scholarly journals Going Abroad, Friends on Board: Cross-Border Venture Capital and Syndication Strategy in China

SAGE Open ◽  
2021 ◽  
Vol 11 (2) ◽  
pp. 215824402110074
Author(s):  
Zhiyi Qiu ◽  
Rong Chen ◽  
Ye Yang
Keyword(s):  
Empirical Study ◽  
Venture Capital ◽  
Emerging Markets ◽  
Cultural Distance ◽  
Cross Border ◽  
Entry Strategy ◽  
China Mainland ◽  
Entrepreneurial Activities

Cross-border venture capitals (CBVCs) are increasingly prevailing in recent decades, inter alia in emerging markets like China. The venture capital (VC) firms investing outside their home countries are faced with foreignness which is broadly regarded as liability. The primary aim of this article is to contribute to our understanding how foreignness affects VC’s strategy when entering emerging markets, particularly with respect to the foreignness originated from cultural distance. The data consist of over 5,000 CBVC deals taking place in China mainland from 1988 to 2016. Our empirical study shows that, with foreignness growing, it turns from liability into advantage in the context of CBVCs. We find an inverse U-shape relationship between foreignness and syndication, with VC firm’s reputation as the moderator. Besides, foreign VC firms establish local subsidiary when faced with foreignness, which serves as alternative to syndication. The key contribution of this article is that foreignness turns from liability into advantage in emerging markets, which exerts a curvilinear impact on the entry strategy of VC firms. This study advances the knowledge of foreignness and VC strategy, and sheds new light on entrepreneurial activities in emerging markets.

scholarly journals “No Entry into New South Wales”: COVID-19 and the Historic and Contemporary Trajectories of the Effects of Border Closures on an Australian Cross-Border Community

Land ◽  
2021 ◽  
Vol 10 (6) ◽  
pp. 610
Author(s):  
Dirk H. R. Spennemann
Keyword(s):  
Public Health ◽  
Economic Impact ◽  
New South ◽  
Community Integration ◽  
New South Wales ◽  
The State ◽  
Cross Border ◽  
Health Measures ◽  
Border Community ◽  
South Wales

Given its intensity, rapid spread, geographic reach and multiple waves of infections, the COVID-19 pandemic of 2020/21 became a major global disruptor with a truly cross-sectoral impact, surpassing even the 1918/19 influenza epidemic. Public health measures designed to contain the spread of the disease saw the cessation of international travel as well as the establishment of border closures between and within countries. The social and economic impact was considerable. This paper examines the effects of the public health measures of “ring-fencing” and of prolonged closures of the state border between New South Wales and Victoria (Australia), placing the events of 2020/21 into the context of the historic and contemporary trajectories of the border between the two states. It shows that while border closures as public-health measures had occurred in the past, their social and economic impact had been comparatively negligible due to low cross-border community integration. Concerted efforts since the mid-1970s have led to effective and close integration of employment and services, with over a quarter of the resident population of the two border towns commuting daily across the state lines. As a result, border closures and state-based lockdown directives caused significant social disruption and considerable economic cost to families and the community as a whole. One of the lessons of the 2020/21 pandemic will be to either re-evaluate the wisdom of a close social and economic integration of border communities, which would be a backwards step, or to future-proof these communities by developing strategies, effectively public health management plans, to avoid a repeat when the next pandemic strikes.

The impact of early failures on maintenance costs: an empirical study in Latin America

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Rodrigo E. Peimbert-García ◽  
Jesús Isaac Vázquez-Serrano ◽  
Jorge Limón-Robles
Keyword(s):  
Empirical Study ◽  
Economic Impact ◽  
Goodness Of Fit ◽  
Electric Utility ◽  
Opportunity Costs ◽  
Current Transformers ◽  
Maintenance Costs ◽  
Content Type ◽  
Early Failures ◽  
The Impact

PurposeLiterature shows that the economics of early failures in maintenance and electric utilities have not been deeply analyzed. This study aims to focus on quantifying the economic impact that early failures in current transformers have on total maintenance costs. The empirical study is conducted in a regional transmission division of an electric utility located in Mexico.Design/methodology/approachThe utility's database was accessed to collect 219 maintenance records. Clustering techniques were used to identify early failures from a bimodal distribution of failures. Confirmatory goodness-of-fit procedures followed the analysis, and finally, direct and opportunity costs were estimated by adapting the cost-of-quality (PAF) Model.FindingsAround 11% of all maintenance activities are triggered by early failures, and they account for up to US$2.2m during the eight-year period under study, which represents 16% of total maintenance costs. Additionally, opportunity costs represent close to two-thirds of the total costs due to early failures. This was obtained after finding and validating a clear-cut border of 3.5 months between early failures and the rest.Originality/valueFailures in energy grids and power transmission can have a large economic impact on the power industry and the society in general. Thus, the maintenance function in equipment such as current transformers is a crucial entry of the budget of any electric utility. This study is one of the very few that highlights the magnitude and importance of direct and opportunity costs derived from early failures.

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