A Theory about Oil, Policy Makers, and the Business Environment

2016 ◽  
pp. 44-57
Author(s):  
Nimah Mazaheri
Keyword(s):  
Business Environment ◽  
Policy Makers ◽  
Oil Policy

scholarly journals THE ROLE OF TECHNOLOGICAL READINESS IN THE GLOBAL COMPETITIVENESS OF SERBIAN ECONOMY

2018 ◽  
pp. 111 ◽  
Author(s):  
Vladimir Radivojević ◽  
Bojan Krstić ◽  
Tanja Stanišić
Keyword(s):  
Business Environment ◽  
Policy Makers ◽  
Substantial Impact ◽  
Global Competitiveness ◽  
Technological Readiness ◽  
Balkan Countries ◽  
World Economic ◽  
National Economies ◽  
Further Development

Technological readiness is an important determinant of the economic and social development in recent decades. Therefore, technological readiness has a substantial impact on the global competitiveness of national economies in the contemporary business environment. The purpose of this paper is to evaluate the level of Serbian economy competitiveness in terms of technological readiness and to identify the critical factors for its further development. The analysis is based on the data published by World Economic Forum in annual The Global Competitiveness Reports in the period from 2013 to 2017. The research is conducted through comparative analysis and benchmarking method. The results show significant deviations and negative trend of technological readiness of Serbia in comparison not only with European countries but even with Balkan countries. The conclusions of this research may serve as the directions for technological readiness policy makers in Serbia and other Balkan countries.

scholarly journals A critical review of corporate governance reforms in Malaysia

2017 ◽  
Vol 6 (1) ◽  
pp. 38-44 ◽  
Author(s):  
Ahmad Al-Hiyari
Keyword(s):  
Corporate Governance ◽  
Financial Statements ◽  
Business Environment ◽  
Market Regulation ◽  
Policy Makers ◽  
Corporate Managers ◽  
Accounting Scandals ◽  
Governance Practices ◽  
Capital Market Regulation ◽  
Local Business Environment

Following the East-Asian financial crisis in 1997 and the corporate accounting scandals, the shareholder’s confidence in the audited financial statements was adversely affected and regulators started to think seriously reforming the existing corporate governance practices. As a result, numerous initiatives were implemented to accelerate improvement of corporate governance practices. One of these initiatives was the Malaysian Code on Corporate Governance (MCCG). The code was derived from the approach applied by the British Hampel Committee, which attempt to mitigate the agency problem between corporate managers and outside owners. This study suggests that the British approach is unsuitable to Malaysian business environment. Particularly, the MCCG that had been lunched since 2011 ignore the uniqueness of Malaysia’s capital market, regulation environment and ownership structure. Therefore, the study recommends that policy makers and other regulators should consider the local business environment when establishing future code on corporate governance.

Wooing the new Chinese businesses: five short-term policies to attract direct investment

2016 ◽  
Vol 37 (5) ◽  
pp. 3-11 ◽  
Author(s):  
Bala Ramasamy ◽  
Matthew Yeung
Keyword(s):  
Direct Investment ◽  
International Investment ◽  
Business Environment ◽  
Decision Makers ◽  
Location Factors ◽  
Policy Makers ◽  
Content Type ◽  
Economic Relationships ◽  
Chinese Companies ◽  
The Usa

Purpose The purpose of this paper is to identify location factors that Chinese managers look for when making internationalization decisions and how the factors stack up in perceived importance. Over the past ten years, Chinese enterprises have become more multi-national in nature. China’s outward foreign direct investment (FDI) has been growing at a phenomenal rate. In 2012, China became the third largest investor, after the USA and Japan; and the largest investor among developing countries. How can host governments attract more of this Chinese capital? What are some short- to medium-term policies that host governments can initiate to make their respective nations attractive to Chinese companies? Design/methodology/approach The authors consider these questions by using a best-worst choice exercise among 114 senior corporate decision makers of Chinese companies who have or are planning to globalize. We rank 16 most common determinants that influence FDI location choice and evaluate their degree of importance. Findings The authors propose five “low hanging fruits” that policy makers should consider that could ensure their countries come within the radar of Chinese multi-nationals. These include promoting a clean and efficient business environment and strengthening/establishing political and economic relationships with China. Originality/value The originality of this study lies in the methodology of the study that forces respondents to make a trade-off in their decisions, which in a way is closer to reality. The respondents are also actual decision makers in their companies with regards to international investment decisions.

Why do informal service enterprises remain informal? A RIDIT approach

2019 ◽  
Vol 26 (3) ◽  
pp. 381-396 ◽  
Author(s):  
Sunanda Jha ◽  
Dinabandhu Bag
Keyword(s):  
Business Environment ◽  
Contributing Factors ◽  
Economic Rights ◽  
Policy Makers ◽  
Content Type ◽  
National Capital ◽  
Peripheral Areas ◽  
Productivity Gains ◽  
Practical Implications ◽  
Informal Service

Purpose The purpose of this paper is to identify reasons as to why firms operate informally, and to explore the rationalisation of not moving towards formalisation. Design/methodology/approach Building on empirical data collected through interviews with the entrepreneurs of the informal service enterprises of Delhi and peripheral areas, this paper presents the results of the survey conducted in 2017. By using the analytical tool developed by I. Bross, the authors have identified the most significant contributing factors to informality. Findings In the research, the authors establish that competition and lack of awareness are the most dominant reasons due to which informal firms are hesitant in moving towards formalisation. For successful transition towards formalisation, a “new pact” between the workers, enterprises and governments needs to be developed, based on capacity building, productivity gains, enabling business environment, empowerment and entitlements to social and economic rights. Research limitations/implications The research is limited only to informal service enterprises located in Delhi, the national capital of India, and the peripheral areas. Practical implications By identifying the most dominant factors, focussed steps can be taken to reduce the size of the informal sector. Originality/value The informal service enterprises are not a widely explored community by researchers and policy makers. This sector can employ more people with less investment, and hence requires intensive study. The use of RIDIT approach to rank the identified factors due to which the firms do not move towards formalisation is the novelty of this work.

FOREIGN DIRECT INVESTMENT INFLOWS AND REGULATION IN NIGERIA: AN EMPIRICAL PERSPECTIVE

2019 ◽  
Vol 9 (1) ◽  
pp. 157-168
Author(s):  
Aderemi Timothy Ayomitunde ◽  
Amusa Bolanle Olubunmi ◽  
Awomailo Lanke B ◽  
Olayemi Henry Omotayo
Keyword(s):  
Rule Of Law ◽  
Business Environment ◽  
Policy Makers ◽  
Fdi Inflows ◽  
Government Effectiveness ◽  
Cross Border ◽  
Long Run ◽  
Equilibrium Relationship ◽  
Good Government ◽  
Empirical Perspective

The aim of this study is to examine the long run equilibrium relationship between regu-lation and FDI inflows in Nigeria over the period of 1990 to 2016 which past studies have failed to explore. Consequently, the study utilized data from UNCTAD, World Bank database, CBN Statistical Bulletin and Cointegration, DOLS and Granger Cau-sality approach was used to address the objective of this study. However, the major findings in this study are summarized as follows. Government effectiveness, rule of law and inflation rate have a significant positive relationship with FDI inflows in Nigeria in the long run, apart from regulation quality that is not significant. This implies that regulation is favorable to the inflows of cross border investment in the country. In addition, there is a unidirectional feedback relationship which runs from FDI inflows to regulation quality and one way feedback relationship runs from the rule of law to government effective-ness in the country. Finally, due to the findings that emerged from this study, the fol-lowing recommendations are made for the policy makers, investors and future re-searchers in Nigeria that when attraction of FDI inflows are the target of the policy makers in the country, improving variables like rule of law, government effectiveness and regulation quality will induce the inflows of cross border investment accordingly in the long run. Also, the Nigerian government should be committed to the provision of a sound business environment in the form of good government regulations to ensure rapid inflows of FDI in the country.

scholarly journals Innovation in the food sector: Regional networks and internationalisation

2006 ◽  
Vol 6 (1) ◽  
pp. 21-30 ◽  
Author(s):  
X. Gellynck ◽  
B. Vermeire ◽  
J. Viaene
Keyword(s):  
Discriminant Analysis ◽  
International Market ◽  
Business Environment ◽  
Food Sector ◽  
Regional Networks ◽  
Apparent Paradox ◽  
Policy Makers ◽  
Two Factors ◽  
Innovation Competence

This paper focuses on the role of regional networks in processes of innovation, in relation to internationalisation. The findings are drawn from a survey conducted in the food sector in the region of Meetjesland, Belgium. The initial aim was to find out which regional characteristics are strongly related to the innovation competence of the food sector, by applying discriminant analysis. The results pointed to two factors as being the most significant: firms are classified as having a stronger innovation competence when networking within the region, and when oriented towards the international market. This finding contains an apparent paradox, which is related to contemporary research pointing at the importance of the regional business environment for the firm's performance, but also at the benefit of internationalisation. In this paper it is argued that these theories are not contradictory, and that firms gain innovation competence by searching for external knowledge on different geographical scales. The results demonstrate that the innovators in the sample tend to be operating internationally and networking within the region. Both firms and policy makers can learn from this finding by acknowledging that the region is one of the geographical scales at which the firm can make a profit. Improving regional networks is therefore a way to gain innovation competence.

scholarly journals COLLATERAL REQUIREMENTS FOR SME LOANS: EMPIRICAL EVIDENCE FROM THE VISEGRAD COUNTRIES

2017 ◽  
Vol 18 (4) ◽  
pp. 650-675 ◽  
Author(s):  
Ashiqur RAHMAN ◽  
Jaroslav BELAS ◽  
Tomas KLIESTIK ◽  
Ladislav TYLL
Keyword(s):  
Slovak Republic ◽  
Small And Medium Enterprises ◽  
Binary Logistic Regression ◽  
Business Environment ◽  
Binary Logistic Regression Model ◽  
Data Set ◽  
Policy Makers ◽  
Medium Enterprises ◽  
Bank Concentration ◽  
Visegrád Countries

The purpose of this paper is to examine the determinants of collateral for small and medium enterprises (smes) in the context of Visegrad countries: Czech Republic, Slovak Republic, Hungary and Poland. The data set for this paper was obtained from the Business Environment and Enterprise Performance Survey (BEEPS), which was conducted by the World Bank and the European Bank for Reconstruction and Development (EBRD) from 2012–2014. A binary logistic regression model with different specifications was employed to examine the effect of independent variables on the incidence of collateral. The results show that risky borrowers need to pledge collateral and the reduction of asymmetric information can lower the incidence of collateral for smes. Moreover, we find that female borrowers are more likely to pledge collateral than male borrowers are. The results also suggest that loans with a longer maturity are more likely to be collateralized than short-term loans. We find evidence that bank-borrower proximity can alleviate the incidence of collateral whereas bank concentration may increase collateral requirements. Policy makers may consider these results to implement policies that can promote bank competition and can lower collateral requirements for female borrowers. The paper contributes to the ongoing debate on the determinants of collateral.

scholarly journals Corporate scandal: Bad apples or bad design of corporate environment, the case of Proton Bank

2013 ◽  
Vol 10 (3) ◽  
pp. 61-68
Author(s):  
Themistokles Lazarides
Keyword(s):  
Business Environment ◽  
Corporate Environment ◽  
Policy Makers ◽  
Specific Data ◽  
Corporate Scandals ◽  
The Social ◽  
Market Framework ◽  
New Business ◽  
European Business ◽  
Of Greece

Corporate scandals during the last years have been proven to be stigmata on the corporate environment. Greece has been the focus point for its public financials, but it has its share of corporate scandals. The last thirty years a rapid reform has taken place in Greece. The legal, regulatory and capital market framework has changed in order to create a more comparable, compatible and isomorphic European business environment. Initiatives like the introduction of IFRS (2003-2004), corporate governance best practices (2002-2003), monitoring and auditing reforms, were some of the main tools of creating a new business environment in Greece. The paper argues, using specific data that these initiatives weren’t efficient enough, not by designers fault but because they weren’t appropriate for the fundamental characteristic of the social, political, legal and economic business environment of Greece. The paper, using the Proton bank case, shows these inefficiencies and highlights the fallacies of the policy makers in Greece and in Europe.

scholarly journals The Interpretation of Circular Priorities to Central European Business Environment with Focus on Hungary

2017 ◽  
Vol 6 (1) ◽  
pp. 2-9 ◽  
Author(s):  
Csaba Fogarassy ◽  
Balint Horvath ◽  
Maria Borocz
Keyword(s):  
European Union ◽  
Circular Economy ◽  
Business Environment ◽  
Life Cycles ◽  
The European Union ◽  
European Union Policy ◽  
Policy Makers ◽  
Planning Approach ◽  
Development Levels ◽  
In The Beginning

Abstract In recent years, there was an increase in economic concepts which defined various concepts for the European Union to leave the economic depression behind. The idea of circular economy boomed into the sight of European Union policy makers in the beginning of 2015. The notion introduced a holistic system planning approach for EU development initiatives. This paper introduces the essential background for the interpretation of circular economy and presents the main priorities throughout its implementation. The size of the European Community leaves many opportunities for the reconsideration of circular processes. The study focuses on circular applications in Hungary which substantially differ from the Western-European practice. The different wage and development levels of the member states in some cases might appear as a possibility to extend product life cycles which otherwise would end sooner. The analysis aims to find the reasons for the variant operations and examines how the extended spatial perspective from national levels to the EU level influences the transition to circular economy.

scholarly journals The Puzzling Concept of Smart City in Central and Eastern Europe: A Literature Review Designed for Policy Development

2020 ◽  
pp. 70-87
Author(s):  
Bogdan-Constantin Ibănescu ◽  
Alexandru Bănică ◽  
Mihail Eva ◽  
Alexandra Cehan
Keyword(s):  
Eastern Europe ◽  
Smart City ◽  
Urban Areas ◽  
Policy Development ◽  
Central And Eastern Europe ◽  
Smart Cities ◽  
Business Environment ◽  
Modern Concept ◽  
Policy Makers ◽  
Strategic Approach

The modern concept of smart city rose from a relatively ambiguous term dealing with the future of urban areas to one of the most popular contemporary fields of research. Tackling a considerable range of topics from digitalization, citizen involvement, sustainability or governance, it managed to rapidly attract both academics and policy-makers. This study reviews the research papers published on smart city concept with application to European Union, and especially to the new member states from Central and Eastern Europe. The results indicate many common features of smart cities in EU, but also some peculiarities of CEE in this regard, many deriving from their socialist inheritance. Meanwhile, it can be noticed the rather incipient status of smart cities approaches, the insufficient resources allocated by local authorities, which rely extensively on EU funding, the lack of awareness from citizens and the lack of a comprehensive and structured strategic approach. In order to tackle the abovementioned issues, our paper suggests a series of measures and directions for policy-makers, local administrations and business environment.

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