1,720,975 research outputs found
Climate risk and foreign direct investment entry mode
No full textThe paper examines how climate risk impacts the strategic entry mode choices - between greenfield investments and cross-border mergers and acquisitions (M&As) - of multinational enterprises (MNEs) into foreign markets. Our study adds to existing literature through a cross-countries empirical analysis and uses a newly developed dataset, the Multinational Revenue, Employment, and Investment Database (MREID), that accounts for how both physical and transition risks of climate change affect MNEs’ entry mode choice. Physical risk refers to the tangible impacts of climate change such as extreme weather events, while transition risk involves regulatory and policy changes associated with moving towards a low-carbon economy. Using data for 139 source countries and 134 destination countries over the period from 2010 to 2021, we find that an increase in the physical risk of climate change leads to MNEs choosing greenfield investment when entering into a new market while a higher level of transition risk discourages greenfield investment. Physical risk has a negative and significant influence on MNEs’ entry choice of using cross-border M&A. There is a positive and significant correlation between transition risk and cross-border M&A though such a relationship is not robust. Industrial-level evidence shows a similar pattern in the majority of the industries. Our findings provide policymakers with guidelines helping to mitigate the negative impact of climate change on business decisions at the global level
The inward FDI - energy intensity nexus in OECD countries:A sectoral R&D threshold analysis
Full text linkOver recent years, concerns about the need to reduce energy intensity have intensified due to the increasing volume of greenhouse gas emissions that has amplified problems related to global climate change and environmental pollution. At the same time, foreign direct investment (FDI) has been found to have a prominent effect on energy intensity. This study empirically examines the relationship between sectoral FDI inflows and energy intensity by investigating the possibility of a threshold effect of research and development (R&D) technological absorptive capacity. Our sample covers 34 OECD countries over 1987–2013, with FDI and R&D data disaggregated at three sectoral levels (primary, secondary and tertiary sectors), an analysis that is absent in existing literature. We uncover a significant R&D input threshold in the relationship between FDI inflows to non-primary sectors and energy intensity. FDI inflows to non-primary sectors increase the level of energy intensity when the level of sectoral R&D is below the threshold, but such effect decreases when the sectoral R&D level is above the threshold point. Important implications flow from our findings with respect to the type of FDI and the level of indigenous R&D to be encouraged (or discouraged) by policymakers to effectively reduce energy intensity
Civil Conflict and Cross-Border Lending:A Sectoral, Micro Lender-Level Analysis of Syndicated Loans
Full text linkThis study examines empirically the impact of civil conflict on cross-border lending. Our sample covers 165 countries over the period 1984-2019 with loan data disaggregated at the economic sectoral level (primary, secondary and tertiary sectors), an analysis that is absent in existing literature. Our results indicate that cross-border lending to the primary sector is not significantly influenced by civil conflict, whereas cross-border lending to secondary and tertiary sectors is negatively impacted by the outbreak of civil conflict, leading to a decreased volume of loans or reversals of existing loans
Institutional difference and outward FDI: Evidence from China
Full text linkThis paper investigates the impact of institutional difference on China’s outward foreign direct investment (OFDI) through a gravity model. Our estimations are based on a large panel of 150 countries over the period 2003-2015. The results show that the institutional differences of government effectiveness and control of corruption between China and a host country have a statistically significant negative effect on China’s OFDI. In addition, our empirical evidence suggests that the ‘One Belt One Road’ policy does not have the expected positive effect on China’s OFDI. Consistent results are obtained from a set of robustness tests. Our findings provide a reasonable guideline for countries aiming to attract Chinese OFDI or seeking factors to boost it
Legal origin and financial development:A propensity score matching analysis
Full text linkWe revisit the impact of legal origin on financial development using propensity score matching and a new financial development index on a sample of 178 countries over 1980–2016. German civil law countries are found to have the strongest positive impact on financial development. English common law countries follow. French and Scandinavian civil law countries have a negative impact on financial development while Socialist legal origin records no significant effect. When decomposing the measure of financial development into financial markets and financial institutions' development, we find that German civil law promotes both while English common law promotes only financial institutions development.</p
Do foreign direct investment and trade affect the relationship between temperature and civil conflict?
No full textThis study investigates the role of countries’ outward orientation in the relationship between temperature and civil conflict. We add to existing literature by highlighting the importance of FDI and trade openness as mitigating factors to reduce the risk of temperature-induced conflict. Using data from 62 developing countries covering the period 1990-2022, and incorporating several estimation methods and robustness tests, our results indicate that higher temperature increases conflict risk and onsets, while FDI inflows, particularly non-primary sector FDI, and trade openness, weaken the positive association by virtue of technical innovation and their capacity to stimulate sustainable practices and climate adaptation strategies. Hence, greater trade with developing countries, along with higher foreign investment into their secondary and tertiary sectors, alleviates their trade-off between extreme temperatures and civil conflict. This broader understanding of the macroeconomic factors moderating the temperature-conflict relationship offers another valuable perspective for inter-governmental climate policy-making efforts to reduce civil conflict
Going Beyond Counting First Authors in Author Co-citation Analysis
Full text linkThe present study examines one of the fundamental aspects of author co-citation analysis (ACA) - the way co-citation
counts are defined. Co-citation counting provides the data on which all subsequent statistical analyses and mappings
are based, and we compare ACA results based on two different types of co-citation counting - the traditional type that
only counts the first one among a cited work's authors on the one hand and a non-traditional type that takes into
account the first 5 authors of a cited work on the other hand. Results indicate that the picture produced through this non-traditional author co-citation counting contains more coherent author groups and is therefore considerably clearer. However, this picture represents fewer specialties in the research field being studied than that produced through the traditional first-author co-citation counting when the same number of top-ranked authors is selected and analyzed. Reasons for these effects are discussed
Variations on the Author
Full text link“Variations on the Author” discusses two of Eduardo Coutinho’s recent films (Um Dia na Vida, from 2010, and Últimas Conversas, posthumously released in 2015) and their contribution to the general question of documentary authorship. The director’s filmography is characterized by a consistent yet self-effacing form of authorial self-inscription: Coutinho often features as an interviewer that rather than express opinions propels discourses; an interviewer that is good at listening. This mode of self-inscription characterizes him as an author who is not expressive but who is nonetheless markedly present on the screen. In Um Dia na Vida, however, Coutinho is completely absent form the image, while Últimas Conversas, on the contrary, includes a confessional prologue that moves the director from the margins to the center of his films. This article examines the ways in which these works stand out in the filmography of a director who offers new insights into the notion of cinematic authorship
Appropriate Similarity Measures for Author Cocitation Analysis
Full text linkWe provide a number of new insights into the methodological discussion about author cocitation analysis. We first argue that the use of the Pearson correlation for measuring the similarity between authors’ cocitation profiles is not very satisfactory. We then discuss what kind of similarity measures may be used as an alternative to the Pearson correlation. We consider three similarity measures in particular. One is the well-known cosine. The other two similarity measures have not been used before in the bibliometric literature. Finally, we show by means of an example that our findings have a high practical relevance.information science;Pearson correlation;cosine;similarity measure;author cocitation analysis
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