1,721,036 research outputs found
Autonomy and Performance of Foreign Subsidiaries in five Transition Countries
Get PDFThe paper analyses the link between the autonomy according to business function and the performance of foreign subsidiaries in Slovenia, Poland, Hungary, Slovakia and Estonia. The novelty of the paper is in the deeper investigation of the multidimensionality of autonomy. Using the method of principal components, four business function factors relating to autonomy were obtained (technology, marketing, management, finance). The results supported the argument that the relationship between autonomy and performance depends on the type of autonomy. Marketing and finance are the most powerful dimensions of autonomy. Higher autonomy in marketing is negatively linked with technology upgrading, measured by productivity level, improvement of technological level of production equipment, and quality of products. The higher the financial autonomy of the subsidiaries the bigger the positive changes in all fields of performance.international technology transfer, FDI effects on the host economy, subsidiary autonomy, subsidiary performance, transition countries
Financial Constraints in Investment - Foreign Versus Domestic Firms. Panel Data Results From Estonia, 1995-1999.
Get PDFUsing data from Estonian manufacturing firms during the period 1995-1999 we apply panel data techniques, in particular the Arellano-Bond (1991) method to investigate the investment behaviour. We employ the model of optimal capital accumulation in the presence of convex adjustment costs. We find that the domestic companies seem to be more financial constrained than those with the presence of foreign investors. Furthermore we find that smaller firms are more constrained than their larger counterparts.Investment, Cash Flow, Foreign Ownership, Firm Size, Estonia
Is Kazakhstan a Market Economy Yet? Getting warmer….
Get PDFTransition from planned to a market economy is an evolutionary process. Evolutions do not have finite beginning and ending points. We may look to the beginning of transition in 1991 when the Soviet Union broke up, or we may see it as beginning earlier, when the Soviet Union began to allow its firms to engage in private sales of output that exceeded state plans and to independently take part in international trade agreements. At what point do we say that transition is complete? Hence, it is quite difficult to say when any country begins and completes its transition. The United States and the European Union have categorized Kazakhstan differently with regard to its degree of transition. The United States removed “non market economy” status from Kazakhstan, whereas the EU gave Kazakhstan an intermediate status. The first question that this work asks is how do these political bodies rank a country’s market orientation, and how did they arrive at different conclusions? These results are then compared to what transitional economists have to say on the evolution from a planned to a market economy. The second question is, how do theoretical, academic economists differ in their analysis of the transition process? By creating unique criteria sets from several papers, can one say that, according to any set, Kazakhstan is a market economy? We conclude that the reform process in Kazakhstan is still underway. The government and the economy have experienced many radical reforms, but none completely satisfies the necessary conditions for being categorized as a market economy.Market economy, non-market economy, Kazakhstan, CIS, Kornai, Svejnar
The Estonian Economy Current Status of Competitiveness and Future Outlooks. Estonia in Focus.
Get PDFWhat are the actual Estonian economic outlooks? By what does Estonia differ from rich and successful countries? These topics are dealt with in the report written by researchers from the University of Tartu. This report has been commissioned by the Estonian Development Fund from the University of Tartu based on the contract for services from 28 June 2007 and completed by Tartu University Faculty of Economics and Business Administration on 29.11.2007.Estonia
- …
