Organizations and Markets in Emerging Economies
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Evidence of Reverse Brain Drain in Selected Asian Countries: Human Resource Management Lessons for Malaysia
Get PDFReverse brain drain (RBD) is a fertile area to examine in the inter-countries movement of professionals. The basic idea of RBD is that the professionals who migrated to the industrialized nations represent potential human resources for the socioeconomic development of their home countries. It is argued that every ‘brain drain’ is a potential ‘brain gain’ for a country. However, there is inconclusive evidence on the best practices of RBD that may become lessons for any country to adopt in tapping the valuable experiences of the intellectual elites. Using ‘human capital theory’ and ’diffusion of innovation theory’, this conceptual paper specifically aims i) to illustrate evidence of the best practices of RBD in selected Asian developing countries of South Korea, Taiwan, China, and India that have commended track records in dealing with RBD; and ii) to suggest strategies for Malaysia, which is a beginner in developing the RBD programs, to adopt the best practices as experienced by the selected countries
Conventional Vs. Islamic Finance: the Impact of Ramadan Upon Sharia-compliant Markets
Get PDFThe Islamic financial industry is growing at a rate 50% faster than that of conventional banking and is expected to be worth USD 2.1 trillion by the end of 2014. This rapid growth and institutionalization of an alternative financial market highlights a growing need to further investigate Sharia-compliant markets and how they compare with their conventional market counterparts. This paper investigates this broad relationship by focusing on the effects of Ramadan upon the performance of Sharia-compliant financial instruments. Specifically, we utilize an event-study methodology to compare the performance of Sharia-compliant stocks to their conventional counterparts across a large sample of countries and regions. We find strong evidence for a significant Ramadan effect within Muslim majority countries and regions. The effect is strongest in the days leading up to Ramadan, and also around the beginning of Ramadan’s third Ashra on the 20th day. This timing reflects the mental, emotional and practical preparations that individuals go through during the course of the month-long observance. These results are not consistent with traditional economic expectations and therefore reflect the unique socially-embedded nature of this emerging and religiously inspired financial system
Impact of Congruence Between Sports Celebrity and Brand Personality on Purchase Intention: the Case of Mineral Water Category in Lithuania
No full textIn Lithuania as in other post-soviet and emerging countries, the practice of using celebrities in advertising is relatively new, but the trend has been growing over the past two decades. The study performed in Lithuanian mineral water category analyses relation between purchase intention of the advertised brand and such independent variables as sports celebrity, brand personality, celebrity similarity to the consumer and consumer attitude towards the celebrity. This paper proves that congruence between the celebrity and brand personality positively impacts purchase intention of the advertised brand. Brand personality turns to have the most impact on purchase intention. The study also revealed that the more consumers find themselves similar to the celebrity, the more they are willing to purchase the brand. However, consumer attitude towards the celebrity appears to be not as important as it was expected
Economic Development and Marketing Strategies: a Comparative Lens
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We analyze two core models of economic development in emerging markets: socialism (i.e., the “visible hand” of the state in directing the country’s socio-economic life) and capitalism (i.e., the “invisible hand” of the markets implemented through pro-market reforms). We further distinguish between two types of socialist economic development: Soviet Communism (as experienced in the pre-1990s Central and Eastern European transition economies) and Fabian Socialism (as experiencedin pre-1991 India). We then suggest that companies can adapt to the evolution from socialism to capitalism in their countries through the implementation of more sophisticated marketing strategies that can ensure a sustainable competitive advantage. Thus, we study the marketing strategies of companies from emerging markets operating under both models of economic development. We analyze the opportunities and challenges that emerging market companies face under each model of economic development in terms of deploying various marketing strategies, and provide useful venues for future research
American and Chinese Thinking Styles: Attitude Effects on Holistic and Attribute Ads
Get PDFAmerican (i.e., Western) thinking favors the analytic style, focusing on the focal object and internal attributes; Chinese (i.e., Eastern) thinking favors the holistic style, paying attention to the context and whole system. This research investigates whether such holistic and analytic thinking styles affect attitudes towards holistic ads which contain many types of information (availability, price, company, etc.) and attribute ads which contain only one type of information (product feature). The first study showed that (i) American consumers prefer attribute ads more than Chinese consumers do; (ii) both American and Chinese consumers prefer holistic ads more than attribute ads; and both prefer the holistic ads equally well. The second study showed that the impact of cultural differences in thinking styles on ad attitudes were not influenced by thinking speed – whether the thinking was fast and automatic or whether the thinking was slow and effortful. The stable and verifiable managerial implication is that ad content in the East and West, in the US and China must include more, diverse information
The Development of Russian Multinational Enterprises From the 1990s to the Present
Get PDFWhile the internationalization of Russian multinational enterprises (MNEs) has increased significantly since the early 2000s, this phenomenon has attracted limited attention among scholars. In the present paper we examine the key characteristics of Russian MNEs and use the literature on emerging market multinationals and Dunning’s OLI paradigm to trace Russian MNEs’ development from the 1990s to the present. We analyze this development, particularly in regard to ownership structure, location choices, entry modes, and motives to internationalize. We analyze how Russian MNEs have evolved into powerful entities and contributed to Russia’s modernization and integration into the global economy.
 
Industrial Growth in the Integrated European Economic Space
Get PDFThe European space has experienced relentless geo-economic changes that result in a re-conceptualisation of their industrial growth pattern. The aim of this paper is to empirically detect the determinants of industrial growth covering the entirety of Europe, thus embracing economies of different production systems and welfare levels. Integration has influenced the economies and their industrial growth not only inside the EU but inside the whole European area, on the one hand, by attributing to them common behavioural characteristics, and on the other hand, by forming their industrial growth pattern under the influence of different natural factors in alignment with the regions’ comparative advantage and the markets’ maturity levels
The Analysis of the Second Pillar Pension Funds and the Role of Expectations
Get PDFThis paper continues the analysis of the second pillar pension funds and is based on the results that were published in June 2013 in the journal “Organizations and Markets in Emerging Economies”, under the title “On Future Pensions from the Second Pillar Pension Funds”. The results of the previously published study that one needs to keep in mind for the full perception of the material are also presented here. The main result of this paper is interpretation and exhaustive quantitative analysis of cointegrating relationship among social insurance contributions transferred into the second pillar pension funds and assets value of these funds. More specifically, this paper explains what is represented by the equilibrium error and submits a mathematical model under rational expectations with detailed comments.
 
Impact of Political and Cultural Factors on Online Education in Africa: the Strategies to Build Capabilities
Get PDFRecently the concept of online education has received considerable attention worldwide; however, its low success rate in Africa warrants further investigation. The purpose of this study is to examine the impact of political and cultural factors on online education. For the purpose of the study, the political factor constitutes government support, technological infrastructure and trained instructors, whereas the cultural factor focuses on gender bias, culture bias and language barrier of learners. Drawing on the theory of source-position-performance, we argue that source (i.e., online education) should be promoted in rural areas as usages of mobile technologies and cellphones are more than computers, and that online education leads to competitive advantage. Finally, we propose a couple of strategies to build capability
