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Dépouillements
Overcoming financing constraints to corporate expansion / Bruce Hearn in Transnational Corporations, TRANSCORP 18/3 (December 2009)
Titre : Overcoming financing constraints to corporate expansion : evidence from a company in an emerging Islamic market Type de document : texte imprimé Auteurs : Bruce Hearn, Auteur ; Jenifer Piesse, Auteur ; Roger Strange Année de publication : 2011 Article en page(s) : p. 1- Langues : Anglais (eng) Tags : Télécommunications Participations Sudatel Soudan Résumé : The sourcing of low-cost finance to facilitate corporate expansion on competitive terms is a major challenge to firms from emerging markets. There are additional constraints in Islamic markets as financial instruments must adhere to sharia law. This paper examines the approach taken by the Sudan Telecommunications Company (Sudatel) to obtain cost effective equity financing using secondary listings on multiple Middle East and North Africa (MENA) stock exchanges. We compare the costs of equity for Sudatel stock on the Sudan and Abu Dhabi Exchanges, and compare these figures with those for Sudatel's two main regional competitors. Furthermore, we highlight the risk-return trade-off faced by investors in Sudatel stock on both Exchanges, and provide evidence of the potential benefits to investors from the overseas listing.
in Transnational Corporations > TRANSCORP 18/3 (December 2009) . - p. 1-[article] Overcoming financing constraints to corporate expansion : evidence from a company in an emerging Islamic market [texte imprimé] / Bruce Hearn, Auteur ; Jenifer Piesse, Auteur ; Roger Strange . - 2011 . - p. 1-.
Langues : Anglais (eng)
in Transnational Corporations > TRANSCORP 18/3 (December 2009) . - p. 1-
Tags : Télécommunications Participations Sudatel Soudan Résumé : The sourcing of low-cost finance to facilitate corporate expansion on competitive terms is a major challenge to firms from emerging markets. There are additional constraints in Islamic markets as financial instruments must adhere to sharia law. This paper examines the approach taken by the Sudan Telecommunications Company (Sudatel) to obtain cost effective equity financing using secondary listings on multiple Middle East and North Africa (MENA) stock exchanges. We compare the costs of equity for Sudatel stock on the Sudan and Abu Dhabi Exchanges, and compare these figures with those for Sudatel's two main regional competitors. Furthermore, we highlight the risk-return trade-off faced by investors in Sudatel stock on both Exchanges, and provide evidence of the potential benefits to investors from the overseas listing.
Titre : EU enlargement and foreign direct investment into transition economies revisited Type de document : texte imprimé Auteurs : Ichiro Iwasaki, Auteur ; Keiko Suganuma, Auteur Année de publication : 2011 Article en page(s) : p. 27-57 Langues : Anglais (eng) Tags : IDE Economies de transition Europe de l'Est Résumé : It is highly likely that EU accession negotiation had a large influence on foreign direct investment (FDI) into the Central and Eastern European countries involved therin. We found that as the membership talks progressed, the effect of attracting FDI to candidate states tended to increase gradually. It also became clear that EU member candidate countries experienced an adverse impact on FDI at the very final phase of the negotiation. This might have been due to the substantial revision of conventional FDI incentives, which most likely was the price paid for becoming new EU members. The relationship between the progress in the EU enlargement process and FDI received by the candidate countries was not a simple positive relationship, but followed a reverse J-shaped curve.
in Transnational Corporations > TRANSCORP 18/3 (December 2009) . - p. 27-57[article] EU enlargement and foreign direct investment into transition economies revisited [texte imprimé] / Ichiro Iwasaki, Auteur ; Keiko Suganuma, Auteur . - 2011 . - p. 27-57.
Langues : Anglais (eng)
in Transnational Corporations > TRANSCORP 18/3 (December 2009) . - p. 27-57
Tags : IDE Economies de transition Europe de l'Est Résumé : It is highly likely that EU accession negotiation had a large influence on foreign direct investment (FDI) into the Central and Eastern European countries involved therin. We found that as the membership talks progressed, the effect of attracting FDI to candidate states tended to increase gradually. It also became clear that EU member candidate countries experienced an adverse impact on FDI at the very final phase of the negotiation. This might have been due to the substantial revision of conventional FDI incentives, which most likely was the price paid for becoming new EU members. The relationship between the progress in the EU enlargement process and FDI received by the candidate countries was not a simple positive relationship, but followed a reverse J-shaped curve.
Titre : Conceptual issues behind the assessment of the degree of internationalization Type de document : texte imprimé Auteurs : Grazia Ietto-Gillies, Auteur Année de publication : 2011 Article en page(s) : p. 59-83 Langues : Anglais (eng) Tags : Multinationales Indices d'internationalisation Commerce Résumé : This article first discusses four major research contexts on internationalization, namely the level of eggregation, internationalization modes, activities configuration and other specific elements at the firm level. This is followed by the identification of three measures of geographical distribution: intensity, extensity and geographical concentration. Discussions of issues concerning the construction and choice of indices are followed by a brief analysis of the effects of internationalization and how they and the underlying theories of the motivations behind international activities should drive the search for appropriate indices. Four examples on the linkages between theoretical approaches to the effects and the development of appropriate indices are discussed, namely, innovation, trade, TNC's bargaining power and performance. The article concludes that: (a) the degree of internationalization is a multifaceted concept and therefore there is no unique, "correct" index; and (b) the theoretical and conceptual frameworks behind the effects of internationalization are key to the development of appropriate indices.
in Transnational Corporations > TRANSCORP 18/3 (December 2009) . - p. 59-83[article] Conceptual issues behind the assessment of the degree of internationalization [texte imprimé] / Grazia Ietto-Gillies, Auteur . - 2011 . - p. 59-83.
Langues : Anglais (eng)
in Transnational Corporations > TRANSCORP 18/3 (December 2009) . - p. 59-83
Tags : Multinationales Indices d'internationalisation Commerce Résumé : This article first discusses four major research contexts on internationalization, namely the level of eggregation, internationalization modes, activities configuration and other specific elements at the firm level. This is followed by the identification of three measures of geographical distribution: intensity, extensity and geographical concentration. Discussions of issues concerning the construction and choice of indices are followed by a brief analysis of the effects of internationalization and how they and the underlying theories of the motivations behind international activities should drive the search for appropriate indices. Four examples on the linkages between theoretical approaches to the effects and the development of appropriate indices are discussed, namely, innovation, trade, TNC's bargaining power and performance. The article concludes that: (a) the degree of internationalization is a multifaceted concept and therefore there is no unique, "correct" index; and (b) the theoretical and conceptual frameworks behind the effects of internationalization are key to the development of appropriate indices.
Titre : A proposal to improve UNCTAD's inward FDI potential index Type de document : texte imprimé Auteurs : Carlos Rodriguez, Auteur ; Carmen Gomez, Auteur ; Jesus Ferreiro Année de publication : 2011 Article en page(s) : p. 85-113 Langues : Anglais (eng) Tags : Multinationales CNUCED Indices d'IDE Résumé : In the literature of foreign direct investment (FDI) and international business, an increasing attention is being paid to the comparative study of countries' attractiveness for FDI. The United Nations Conference on Trade and Development has developed several indices to evaluate and compare the location advantages of the countries and their relative success in attracting FDI. However, these indices suffer from several limitations. We have constructed an improved inward FDI potential index that can solve some of these limitations, making use of 70 variables for 49 countries and data reduction techniques. The correlation analysis shows that it fits better with the Inward FDI Performance Index, and thus this new index explains more precisely countries' FDI inflows. Moreover, the larger number of variables included allows us to rank the countries for different kinds of FDI and the assess countries' strengths and weaknesses for policy purposes.
in Transnational Corporations > TRANSCORP 18/3 (December 2009) . - p. 85-113[article] A proposal to improve UNCTAD's inward FDI potential index [texte imprimé] / Carlos Rodriguez, Auteur ; Carmen Gomez, Auteur ; Jesus Ferreiro . - 2011 . - p. 85-113.
Langues : Anglais (eng)
in Transnational Corporations > TRANSCORP 18/3 (December 2009) . - p. 85-113
Tags : Multinationales CNUCED Indices d'IDE Résumé : In the literature of foreign direct investment (FDI) and international business, an increasing attention is being paid to the comparative study of countries' attractiveness for FDI. The United Nations Conference on Trade and Development has developed several indices to evaluate and compare the location advantages of the countries and their relative success in attracting FDI. However, these indices suffer from several limitations. We have constructed an improved inward FDI potential index that can solve some of these limitations, making use of 70 variables for 49 countries and data reduction techniques. The correlation analysis shows that it fits better with the Inward FDI Performance Index, and thus this new index explains more precisely countries' FDI inflows. Moreover, the larger number of variables included allows us to rank the countries for different kinds of FDI and the assess countries' strengths and weaknesses for policy purposes.
