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Author: Mr.Hideaki Hirata
Publisher: International Monetary Fund
ISBN: 1557753288
Category : Business & Economics
Languages : en
Pages : 65
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Book Description
Abstract: Both global and regional economic linkages have strengthened substantially over the past quarter century. We employ a dynamic factor model to analyze the implications of these linkages for the evolution of global and regional business cycles. Our model allows us to assess the roles played by the global, regional, and country-specific factors in explaining business cycles in a large sample of countries and regions over the period 1960–2010. We find that, since the mid-1980s, the importance of regional factors has increased markedly in explaining business cycles especially in regions that experienced a sharp growth in intra-regional trade and financial flows. By contrast, the relative importance of the global factor has declined over the same period. In short, the recent era of globalization has witnessed the emergence of regional business cycles.
Author: Mr.Hideaki Hirata
Publisher: International Monetary Fund
ISBN: 1557753288
Category : Business & Economics
Languages : en
Pages : 65
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Book Description
Abstract: Both global and regional economic linkages have strengthened substantially over the past quarter century. We employ a dynamic factor model to analyze the implications of these linkages for the evolution of global and regional business cycles. Our model allows us to assess the roles played by the global, regional, and country-specific factors in explaining business cycles in a large sample of countries and regions over the period 1960–2010. We find that, since the mid-1980s, the importance of regional factors has increased markedly in explaining business cycles especially in regions that experienced a sharp growth in intra-regional trade and financial flows. By contrast, the relative importance of the global factor has declined over the same period. In short, the recent era of globalization has witnessed the emergence of regional business cycles.
Author: Martin Renze-Westendorf
Publisher: diplom.de
ISBN: 3832497420
Category : Business & Economics
Languages : en
Pages : 106
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Book Description
Inhaltsangabe:Abstract: Over the last decade product and factor markets have continued to become more integrated, new markets have emerged and the globalization has become an important strategic issue for companies. As a result, international investment opportunities have in-creased while regulatory restrictions on capital markets have been eased and the market for corporate control has become more integrated. Consequently, the international acquisition activity has increased in both absolute and relative terms over the last decades leading to a significant rise of the proportion of international to domestic merger activity, particularly at the end of the 1990s. As more and more companies consider international diversification as a strategic option for their further growth, the question arises which valuation consequences accompany cross-border acquisitions. Furthermore, it is to be analyzed whether these consequences differ systematically from domestic acquisitions and what could be possible value drivers in these cases. Although mergers and acquisitions in general have received wide attention in academic research, studies concerning the wealth effects of cross-border acquisitions are limited. Moreover, existing empirical evidence primarily stems from the US and UK capital markets neglecting generally the European perspective. Spain, Europe s fifth largest economy, has seen a series of considerable cross-border acquisitions in the last decade culminating in the merger of Santander with Abbey National in 2004 for over USD 15bn, making it the tenth largest transaction worldwide in 2004.3 The Spanish M&A market boom of the 1990s was initially driven by a consolidation process in the financial services, utilities and telecoms sectors which mostly were formerly state-owned. As a consequence of the increasing market concentration Spanish companies expanded internationally, creating some of the biggest corporations world-wide and becoming South America s largest foreign investor. These recent developments and the high acquisition activity from Spain into other countries make it worthwhile to shed light on the valuation consequences and their possible explanations by an empirical analysis. Considering the aforementioned, it is the aim of this thesis to answer the question as to whether the foreign acquisition wave of the last decade in Spain really created value and therewith supports the strategic decisions of the management. The analysis should [...]
Author: Mr.Rudolfs Bems
Publisher: International Monetary Fund
ISBN: 1513538470
Category : Business & Economics
Languages : en
Pages : 70
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Book Description
We examine the role of cross-border input linkages in governing how international relative price changes influence demand for domestic value added. We define a novel value-added real effective exchange rate (REER), which aggregates bilateral value-added price changes, and link this REER to demand for value added. Input linkages enable countries to gain competitiveness following depreciations by supply chain partners, and hence counterbalance beggar-thy-neighbor effects. Cross-country differences in input linkages also imply that the elasticity of demand for value added is country specific. Using global input-output data, we demonstrate these conceptual insights are quantitatively important and compute historical value-added REERs.
Author: International Monetary Fund. Communications Department
Publisher:
ISBN: 9781475553109
Category : Electronic books
Languages : en
Pages : 183
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Book Description
Finance and Development, June 2015.
Author: Dr Florinda Matos
Publisher: Academic Conferences limited
ISBN: 1914587103
Category : Business & Economics
Languages : en
Pages :
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Book Description
These proceedings represent the work of contributors to the 16th European Conference on Innovation and Entrepreneurship (ECIE 2021), hosted by ISCTE Business School, Instituto Universitário de Lisboa, Portugal on 16-17 September 2021. The Conference Chair is Dr. Florinda Matos and the Programme Co-Chairs are Prof Maria de Fátima Ferreiro, Prof Álvaro Rosoi and Prof Isabel Salavisa all from Instituto Universitário de Lisboa, Portugal. ECIE is a well-established event on the academic research calendar and now in its 16th year, the key aim remains the opportunity for participants to share ideas and meet the people who hold them. The conference was due to be held at Instituto Universitário de Lisboa, Portugal, but due to the global Covid-19 pandemic it was moved online to be held as a virtual event. The scope of papers will ensure an interesting two days. The subjects covered illustrate the wide range of topics that fall into this important and ever-growing area of research. The keynote presentation is given by Soumodip Sarkar, Vice-Rector, from University of Évora, Portugal on the topic of Social Intelligence. The second day of the conference will open with an address by Professor Vittorio Loreto, Sapienza University of Rome, Italy, who will talk about Exploring the adjacent possible: play, anticipation, surprise.
Author: Jonathan Swift
Publisher: Bloomsbury Publishing
ISBN: 1137603801
Category : Business & Economics
Languages : en
Pages : 424
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Book Description
Focussing on the way in which relationships at various levels underpin international business activities, this core textbook presents a contemporary and realistic analysis of International Business in action. The concept of change permeates the text, highlighting the dynamic and often turbulent nature of international business and management. The book brings together many operational aspects of IB, covering topics such as market entry decision making, marketing, strategy, international HR, supply chain management, and the role of culture in IB, thus providing a good overview of the various practical and operational issues that firms must consider as they internationalise their operations. This is the ideal companion for undergraduate and postgraduate Business students taking modules in International Business or International Management.
Author: M. Perlman
Publisher: Springer
ISBN: 0230108237
Category : Business & Economics
Languages : en
Pages : 247
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Book Description
This book describes the deep contradictions plague market economies. It shows how the influence of these contradictions sometimes subsides, allowing the economy to perform relatively well. But in time, these contradictions accumulate and economy declines as if it suffers from some degenerative disease. The policies designed to rise above these contradictions often spawn even more severe contradictions. This book describes how these contradictions have affected the economy of the United States in the past and the dangers that the future poses. For example, policies to stimulate the economy eventually lead to stagnation. Policies to make hold down wages make business even more uncompetitive. It also analyzes the destructive consequences of the military, finance, and the Federal Reserve. Finally, it debunks the mythological promise of a New Economy.
Author: Mohammad Heydari
Publisher: Routledge
ISBN: 1000707555
Category : Business & Economics
Languages : en
Pages : 283
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Book Description
The book examines a relatively unexplored issue in supply chain risk management, which is how long companies specifically take to respond to catastrophic events of low probability but high impact. The book also looks at why such supply chain disruptions are unavoidable, and consequently, all complex supply chains are inherently at risk. The book illustrates how companies can respond to supply chain disruptions with faster responses and in shorter lead-times to reduce impact. In reducing total response time, designing solutions, and deploying a recovery plan sooner after a disruption in anticipation of such events, companies reduce the impact of disruption risk. The book also explores the basics of multiple-criteria decision-making (MCDM) and analytic hierarchy process (AHP), and how they contribute to both the quality of the financial economic decision-making process and the quality of the resulting decisions. The book illustrates through cases in the construction sector how this industry has become more complex and riskier due to the diverse nature of activities among global companies.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264269231
Category :
Languages : en
Pages : 226
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Book Description
This publication focuses on business dynamics across eight countries (Belgium, Brazil, Canada, Costa Rica, Japan, New Zealand, Norway, United Kingdom) and over time, building upon the evidence collected in the framework of the OECD DynEmp project for 22 countries.
Author: O. Ricci
Publisher: Springer
ISBN: 113737604X
Category : Business & Economics
Languages : en
Pages : 165
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Book Description
Corporate scandals at the beginning of the 2000s and the recent global financial crisis have renewed the attention of academics, regulators and practitioners to agency problems and possible solutions in the financial sector. Since that time, much thought has been given to new regulations and international corporate governance standards, in an attempt to guarantee prudent and sound financial management. While much of this thought has been focussed on the banking sector, Corporate Governance in the European Insurance Industry provides a unique perspective on the subject, focusing on the insurance industry and asking some important theoretical and practical questions. Are insurance companies systemically relevant, and does the existing regulation provide adequate protection for customers and guarantee financial stability? Is regulatory intervention consistent with economic and financial theories? And crucially, is this intervention consistent with empirical evidence of the behaviour and performance of insurance companies? The first part of this book provides the reader with a comprehensive review of current academic studies on the topic; the second part moves on to examine the regulation of corporate governance and its recent evolution after the global financial crisis. Within a context of vivid debate in the financial services industry, the issues explored in this book will be of value to anyone with an interest in insurance corporate governance and regulation. It is also a key source of research for academics in insurance and finance, as well as PhD students and post-graduate students in relevant subjects.
