THE RELATIONSHIP BETWEEN CORPORATE PROFILE, STRATEGY, AND PERFORMANCE IN INTERNATIONAL MARKETS
Flavia Luciane Scherer, Clandia Maffini Gomes, and Isak Kruglianskas
The informal economy exists in both developing and developed nations, though it is most often associated as an engine of economic dynamism in developing countries. The concept is generally defined as the sum of economic income generating activities outside of the formal economy, which are registered, tax paying and legal. Since the 1970s when the term first entered academic discourse, the informal economy conceptually evolved through several distinct phases starting with neoliberal, then to reformist and next structuralist ideology before the term outgrew its usefulness in the 1990s and turned into
the „social network‟ concept to understand why and how people operate outside of the formal economy. This paper argues that the discourse of the informal economy remains inadequate and ill-defined to deal with developing countries‟ policy dilemma on mainstreaming the informal economy.
INSTITUTIONAL THEORY AND THE INTERNATIONALIZATION OF HIGHER EDUCATION IN SOUTH AMERICA: THE BRAZILIAN CASE
Leonardo Flach and Lisandra Flach
In order to understand the tools used by the company employees to make a career, we opt for a method centered on the intellectual plans of the respondents concerning their perception of the career opportunities. The cognitive map, setup by the researcher, allows
schematization of the interviewees’ representation of reality. Our study examines career opportunities as perceived by the public enterprise workers on the eve of a major restructuring. We wish to answer the following questions: How do executive and non-executive employees from a public enterprise, as seen through cognitive maps studies, see their chances for a career?
THE EFFECTS OF EXCHANGE RATE VOLATILITY ON SRI LANKAN EXPORTS: AN EMPIRICAL INVESTIGATION
E. M. Ekanayake and Dasha Chatrna
The effects of production cost asymmetries on the sustainability of customs unions among producing countries are investigated using a homogeneous-product Cournot oligopoly model, in which three producing countries subsidize exports of an homogeneous good to a
consumer country that imposes a tariff on imports. It is found that the only sustainable customs union is the one formed by the threemember customs union. However, although the said customs union will be in equilibrium if utility transferences among member countries are allowed, it could not be in equilibrium if such transferences are not allowed.
EXPLOITING THE INFORMATION OF STOCK MARKET TO FORECAST EXCHANGE RATE MOVEMENTS
The objective of this paper is to examine the effects of international trade and investment related macro economic variables, namely, exports, imports and FDI inflows on the outflows of FDI from India over 1970 through 2005. Using time series data analysis, the empirical part of the paper finds unidirectional Granger Causality from export and import to FDI outflows but no such causality exists from FDI inflows to the corresponding outflows from India. Results confirm the assumption that lagged imports and exports are a driving force of current FDI outflows and that India‟s capability of undertaking outbound FDI will be related to the country‟s performance in its trade front.
KOREAN EDUCATION AND FOREIGN DIRECT INVESTMENT: FOCUSING ON ENTRY MODES
Lorna Baek and Jimmyn Parc
This paper investigates the relationship between volatility transmission and stock market regulatory structures, interest rates and trading volume for European securities which are cross-listed on stock exchanges of higher, lower or similar regulatory standards compared
to their home stock markets. The empirical results suggested that the regulatory environment has a significant impact on volatility spillovers and the level of interest rates and trading volume have a positive impact on the magnitude and persistence of these volatility spillovers. These findings have potentially important implications for both regulators and investors who are concerned with the effectiveness of legislation aiming to harmonise the European stock markets and the effects of volatility transmission on investment positions across European stock markets.