Search results for "emerging market"

Global Food Prices and Domestic Inflation: Some Cross-Country Evidence

2015

We study the impact of global food price shocks on domestic inflation in a large group of countries. For advanced economies, a 10% increase in global food inflation raises domestic inflation by about 0.5 percentage point after a year; however, the impact has declined over time and become less persistent. The global food price shocks of the 2000s had a much bigger impact on domestic inflation in emerging and developing economies than in advanced economies. This could reflect the smaller share of food in the consumption baskets in advanced economies. We also provide evidence that inflation expectations are more anchored in advanced than in emerging economies, which could also explain the smal…

Interest rate co-movements, global factors and the long end of the term spread

2012

The disconnect between rising short and low long interest rates has been a distinctive feature of the 2000s. Both research and policy circles have argued that international forces, such as global monetary policy (e.g. Rogoff, 2006); international business cycles (e.g. Borio and Filardo, 2007); or a global savings glut (e.g Bernanke, 2005) may be responsible. In this paper, we employ recent advances in panel data econometrics to document the disconnect and link it explicitly to the existence of a global latent factor that dominates the long end of the term spread for the recent period; the saving glut story emerges as the most likely contender for the global factor.

Information Flows Among the Major Stock Market Areas

2001

The relationship between the index returns of the major stock markets has been analysed in many papers. These studies usually examine lead–lag relationships between markets, without distinguishing the influencing ability and the sensitivity of each of the markets. Additionally, these studies use indices that are not directly comparable — either because of the way the indices are calculated or because of the number of companies and sectors used to construct them. This paper addresses both points. First, all the analyses have been made using homogeneous indices designed by Morgan Stanley Capital International. Secondly, the information flow has been studied by applying the model proposed by P…

Online Academic Networks as Knowledge Brokers: The Mediating Role of Organizational Support

2018

Placing online academic networks in the framework of social, cultural and institutional “deterritorialization,” the current paper aims at investigating the functionality of these new forms of transnational and trans-organizational aggregations as knowledge brokers. The emphasis is laid on the influence of human collective intelligence and consistent knowledge flows on research innovation, considering the role of organizational support within higher education systems. In this respect, the research relied on a questionnaire-based survey with 140 academics from European emerging countries, the data collected being processed via a partial least squares structural equation modelling technique. E…

Key Information Systems Management Issues in Estonia for the 2000s and A Comparative Analysis

2006

AbstractThis study reports key information system (IS) management issues in Estonia, for a second time since 1993. The study enlists the views of knowledgeable practitioners from both the information technology (IT) and non-IT (business managers) fields. The primary objective was to compare and contrast the findings in the previous study with the present effort. Other secondary objectives included investigating the views across professional classifications and sectors. Further, a comparison between Estonia (an emerging economy) and Norway (a developed country) was made. The findings of the study indicate the following: 1) the past decade has produced salient changes in the ranking of key IS…

The Influence of Institutionally Embedded Ownership on Anglo-American Corporate Governance Migration into Emerging Economy IPO Firms

2017

We argue that the corporate governance of emerging economy IPO firms is influenced by firm-specific institutionally embedded block ownership groups. Applying an extended institutional logic perspective and using a mixed-effects ordered probit model, our findings from 190 IPO-firms from 22 African countries 2000‒2016, support the notion that five major block owner categories (corporate, private equity, non-executive, business group, state) exerts very different influence on African firms’ degree of adoption of Anglo-American corporate governance measures. We find that the influence from the various block owner groups is significantly moderated by institutional quality and tribalism, but to d…

Timescale-dependent stock market comovement: BRICs vs. developed markets

2014

This paper examines the differences in the asset return comovement of the BRIC countries (Brazil, Russia, India and China), the other developed economies in their regions (Canada, Hong Kong and Australia) and the major industrialized economies (the U.K., Germany and Japan) with respect to the U.S. for different return periods. The novelty of the paper is that the stock return indices are decomposed to several timescales using wavelet analysis and that the results are further used as inputs for the dynamic conditional correlation (DCC) framework, which is used as a measure of comovement. The results propose that the level of stock market comovement depends on regional aspects, the level of d…

A learning portal model of emerging markets multinationals

2021

Internationalization via strategic alliances in family businesses.

2004

It has been observed in previous studies that certain characteristics of family businesses may impede internationalization. These characteristics include the concentration of decision-making in the hands of a single shareholder or small group of shareholders, delays in the succession process, aversion to internationalization, etc. Despite these obstacles, a large number of family businesses have chosen to internationalize as a means of revitalizing themselves. The results of the study reported here indicate three important pre-requisites for family businesses that are seriously considering internationalization as an aid to growth: they need to have a market-leading product, adequate financi…

Uncertainties and Risks in the Implementation of an E-Learning Information Systems Project in a Higher-Learning Environment: Viewpoints from Estonia

2005

This paper investigates the sorts of risks and uncertainties inherent in implementing an e-learning information systems project in Estonia. The study uses a variation of the Delphi study in eliciting the risk factors or items from experienced top management professionals within the organisation. The main objective of the study is to identify the uncertainties or risks in the implementation of the systems, using the viewpoint of Estonia, which is an emerging economy. The findings of the work indicate that wrong development strategy, staff volatility, change in top management and lack of funding are amongst the top risk factors in implementing e-learning in Estonia. On the other hand, risks …