scholarly journals Dependent versus state-permeated capitalism: two basic options for emerging markets

2018 ◽  
Vol 54 (4) ◽  
pp. 269-282 ◽  
Author(s):  
Andreas Nölke
Keyword(s):  
Emerging Markets ◽  
Emerging Economies ◽  
Emerging Market ◽  
National Level ◽  
East Central Europe ◽  
East Central ◽  
Analytical Instruments ◽  
Comparative Capitalism ◽  
Institutional Contexts ◽  
Market Capitalism

Abstract Can comparative capitalism (CC) assist us in understanding both the rise and the current challenges of emerging market capitalism? This article applies analytical instruments developed in CC scholarship on emerging markets to address this question. During the last two decades, CC scholarship – defined by common features such as the emphasis on institutional contexts that are sticky and most important at the national level – has evolved considerably. This contribution to the third generation of this scholarship highlights the degree of international economic integration as the central strategic choice to be faced by emerging economies. It does so by systematically comparing dependent market economies of East Central Europe with the state-permeated economies of China, India and Brazil. The core finding is that both types of capitalism have been able to mobilize substantial institutional complementarities during the last three decades but will face considerable economic and political challenges in the years ahead.

Design leaps: business model adaptation in emerging economies

2016 ◽  
Vol 10 (2) ◽  
pp. 105-124 ◽  
Author(s):  
Sunil Sharma ◽  
Mukund R. Dixit ◽  
Amit Karna
Keyword(s):  
Boundary Conditions ◽  
Emerging Markets ◽  
Business Model ◽  
Emerging Economies ◽  
Emerging Market ◽  
Model Adaptation ◽  
Design Features ◽  
Content Type ◽  
Business Opportunities ◽  
Contextual Intelligence

Purpose Firms take design leaps when they imitate an established business model developed either by another firm or in another market to create business opportunities. While recent research has suggested the use of contextual intelligence for imitation, the exact process of adaptation of a business model is not fully understood. The purpose of this paper is to outline the process through which an emerging market firm adapts a developed market business model for creating business opportunities in the local market. Design/methodology/approach This paper investigates the journey of Air Deccan, the pioneer low-cost airline in India, from its founding until its successful adaptation of a (Western) business model and eventual failure. The authors use a qualitative case-based approach to study business model adaptation. Findings The authors find that adaptation involves the incorporation of following design features: novelty to overcome problem of institutional voids, elasticity to exploit unexpected increase in demand and efficiency to serve large volumes. Based on the evidence, the authors suggest the introduction of global efficiency measures as the boundary conditions of business model adaptation in emerging markets. Research limitations/implications The paper contributes to the literature on business models by suggesting elasticity as a unique design feature relevant for emerging markets. This paper provides granular understanding of business model toxicity. Practical implications Entrepreneurs and managers – looking to enter emerging markets through opportunity creation – should focus on providing contextually novel design features in the adapted business model. The authors also caution practitioners against the perils of toxicity arising out of combining contextual novelty with efficiency. Originality/value Recent literature suggests that multinationals need contextual intelligence to successfully monetize their investment in emerging economies. This paper provides rich description of the challenges faced by entrepreneurs in emerging markets, local innovations used to overcome them and boundary conditions.

Transnational Culture and the Political Transformation of East-Central Europe

2009 ◽  
Vol 12 (3) ◽  
pp. 337-357 ◽  
Author(s):  
Robert Brier
Keyword(s):  
National Level ◽  
New Democracies ◽  
Political Transformation ◽  
East Central Europe ◽  
General Direction ◽  
East Central ◽  
Social Transformations ◽  
Social Scientific ◽  
Democracy Building ◽  
The Impact

In social scientific studies of Europe’s new democracies, there has emerged an analytical approach which transcends the teleology of ‘transitology’ and, focusing on the impact of culture and history, is sensitive to the contingencies and ‘eventfulness’ of social transformations. The main thrust of this article is that such a culturo-historical approach may prove useful not only in assessing the different results to which the processes of democratization lead at the national level, but also to assess the general direction of political change after 1989 towards democracy. Building on Eisenstadt’s notion of modernity as a cultural and political program, this article therefore attempts to understand the revolutions of 1989 not only as the mere sum of particular national events, but also as part of an ‘entangled history’, that is, as a common, transnational phenomenon which was based on and articulated a shared cultural understanding.

Emerging Markets as Learning Laboratories: Learning Behaviors of Local Firms and Foreign Entrants in Different Institutional Contexts

2005 ◽  
Vol 1 (3) ◽  
pp. 353-380 ◽  
Author(s):  
Michael A. Hitt ◽  
Haiyang Li ◽  
William J. Worthington
Keyword(s):  
Emerging Markets ◽  
Emerging Market ◽  
Learning Processes ◽  
Future Research ◽  
Exploratory Learning ◽  
Exploitative Learning ◽  
Institutional Contexts ◽  
Learning Behaviours ◽  
Learning Laboratories ◽  
Local Firms

In this work, we examine and integrate the research streams on learning behaviours of both local firms and foreign entrants in emerging markets. We propose that local firms and foreign entrants differ in the types of learning pursued and in the learning processes used. While emerging market firms engage in a significant amount of exploratory learning, they also attempt to exploit the newly gained knowledge in their current markets. Furthermore, foreign entrants engage in exploitative learning as expected but also must participate in exploratory learning to acquire knowledge of culture, institutional norms, and important social relationships. While much of the learning occurs through cooperative processes with both partners, they also each engage in experiential learning. We argue that emerging markets also differ; firms in the more mature emerging markets seek different types of learning and the learning processes used vary compared to those in less mature emerging markets. Our research suggests that emerging markets represent learning laboratories and provide a base to catalyse future research.

scholarly journals The effects of Basel III liquidity regulations on banks’ profitability

2018 ◽  
Vol 7 (2) ◽  
pp. 34-48 ◽  
Author(s):  
Tafirei Mashamba
Keyword(s):  
Emerging Markets ◽  
Emerging Economies ◽  
Emerging Market ◽  
Generalized Method Of Moments ◽  
Basel Iii ◽  
Ratio Requirement ◽  
Coverage Ratio ◽  
Ratio Rule ◽  
Estimation System ◽  
The Impact

The new Basel III Liquidity Coverage Ratio standard which encourages banks to maintain a diversified pool of high-quality liquid assets against their short-term expected net cash outflows although it appears to be noble from a theoretic perspective it may weigh down banks’ performance because liquid assets earn low returns. It is against this background that this study sought to evaluate the impact of the new Basel III liquidity regulations on the profitability of banks in emerging market economies. A sample of 40 banks operating in 11 emerging markets over the period 2011 to 2016 was used in the study. For estimation, system Generalized Method of Moments (GMM) estimator was employed. Surprisingly, empirical results demonstrated that regulatory pressure stemming from Liquidity Coverage Ratio requirement increased instead of diminishing the profitability of banks in emerging markets. The plausible explanation given for this evidence was that banks in emerging markets managed their liquidity in a manner that is consistent with Liquidity Coverage Ratio rule hence the regulation had no detrimental effects on banks in emerging economies.

scholarly journals What is to be Done? Framings of Urban Populism in Prague and Warsaw

2021 ◽  
Vol XXII (2021) ◽  
pp. 40-62
Author(s):  
Connor O’Dwyer
Keyword(s):  
Urban Planning ◽  
National Level ◽  
East Central Europe ◽  
East Central ◽  
Capital Cities ◽  
Social Actors ◽  
Extensive Field ◽  
Urban Movements ◽  
Media Reports ◽  
Municipal Level

Resurgent populism in East Central Europe is typically analyzed at the national level. This paper examines populist urban movements in two of the region’s capital cities: Prague and Warsaw. It locates the origin of urban populist grievances in the crisis of urban-planning regimes after communism. At the same time, it argues that the character of populist urban movements, in terms of their mobilizing frames and tactics, varies between cities depending on the openness of municipal institutions to new social actors. The research draws on extensive field interviews, policy documents, academic analyses, and domestic media reports. It sheds light on an under-studied variant of postcommunist populism—one less conservative and potentially more inclusive—and contributes to the literatures on postcommunist civil society, urban planning, and municipal-level politics.

scholarly journals INTERNATIONAL ENTREPRENEURSHIP: EVIDENCE FROM EMERGING MARKETS

2021 ◽  
Author(s):  
Bjarne Sorensen
Keyword(s):  
Emerging Markets ◽  
Emerging Economies ◽  
International Entrepreneurship ◽  
Emerging Market ◽  
Competitive Advantages ◽  
International Business Research ◽  
Multiple Case ◽  
Research Questions ◽  
Resource Deployment

<p>This article answers calls for research into the field of international entrepreneurship (henceforth IE) in the context of emerging economies. In doing so, the research simultaneously heeds appeals for greater methodological variety to broaden the scope of inquiry in the field of international business research. Drawing on internationalization and entrepreneurial process modelling theory, this multiple-case study provides unique insights into the phenomena of IE in emerging market settings. It elaborates upon the processes behind IE’s discovery of opportunities; it extends our understanding of IEs resource deployment; and it identifies sources of competitive advantages among IEs in emerging markets. Insights gained from this empirical study were translated into propositions corroborating, elaborating, and challenging existing theory and assumptions. Above all, this research questions our understanding of institutional and transaction cost theory in the internationalization processes of IEs.<br></p>

scholarly journals Sources of liquidity commonality, asymmetric information and ownership structure in emerging markets: evidence from the Chinese stock market

2008 ◽  
Vol 5 (4) ◽  
pp. 233-239
Author(s):  
Xinwei Zheng
Keyword(s):  
Asymmetric Information ◽  
Stock Market ◽  
Emerging Markets ◽  
Emerging Economies ◽  
Ownership Structure ◽  
Emerging Market ◽  
Stock Exchanges ◽  
Chinese Stock Market ◽  
Trading System ◽  
The Relationship

This study examines if common factors of liquidity can be determined by ownership structure measured by asymmetric information in an emerging market that has adopted an order-driven trading system. Using China as a case for the study, I select a broad sample of stocks from two separate Chinese stock exchanges to measure and analyse the relationship. My empirical evidence seems significant and pervasive. These findings about the Chinese stock market provide useful pointers for understanding commonality in emerging economies and shed critical light on a new dimension of the working of emerging markets

scholarly journals Entrepreneurship in Emerging Markets

2018 ◽  
pp. 456-494
Author(s):  
Saul Estrin ◽  
Tomasz Mickiewicz ◽  
Ute Stephan ◽  
Mike Wright
Keyword(s):  
Social Capital ◽  
Human Capital ◽  
Emerging Markets ◽  
Emerging Economies ◽  
Emerging Market ◽  
Developed Countries ◽  
Entrepreneurial Activity ◽  
Future Research ◽  
Individual Level ◽  
Entrepreneurship In Emerging Markets

The level of entrepreneurial activity is higher in emerging markets than in developed economies, driven by high levels of necessity entry and less daunting entry barriers, especially in the informal sector. However, a gap remains in our understanding of its extent and of the drivers of its change. This chapter addresses this gap by conceptualizing and providing evidence about the scale and nature of entrepreneurship in emerging markets. The chapter begins with an empirical analysis of entrepreneurship in emerging economies. In particular, it contrasts the way in which human capital is utilized by entrepreneurs in emerging market economies and in developed countries. The chapter goes on to the theme of human capital, bringing in theory, and considering entrepreneurship in emerging economies at the individual level as well as the role of entrepreneurs’ social capital in the emerging economy context. Furthermore, it considers the scale and impact of the repatriation of human and social capital from abroad, which is found to play an important role in entrepreneurship in many emerging economies, especially when considering innovation. The survey goes on to provide a macro-level analysis, with cross-country comparisons of the effects of institutions and finance on entrepreneurial activity in emerging markets. It concludes by suggesting avenues for future research.

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