http://hdl.handle.net/2027.42/39392 http://deepblue.lib.umich.edu/retrieve/156802 http://hdl.handle.net/2027.42/39392 Search the Channel search http://deepblue.lib.umich.edu/simple-search http://hdl.handle.net/2027.42/64432 Title: Chinese state’s economic cooperation related investment: An investigation of its direction and some implications for outward investment<br/><br/>Authors: Bhaumik, Sumon Kumar; Co, Catherine Yap<br/><br/>Abstract: The Chinese state undertakes large scale investments in a number of countries under the auspices of economic cooperation related investment (ECI). While there are suggestions that it is an extension of China‟s soft power aimed at facilitating Chinese FDI in those countries, often for access to natural resources, there is no systematic analysis of this in the literature. In this paper, we examine this investment of the Chinese state over time. Our results suggest that the pattern of investment is indeed explained well by factors that are used in the stylised literature to explain directional patterns of outward FDI. They also demonstrate that the (positive) relationship between Chinese ECI and the recipient countries‟ natural resource richness is not economically meaningful. Finally, while there is some support for the popular wisdom that China‟s willingness to do business with a country is not strongly affected by its level of corruption, there is much weaker support, if any, for the hypotheses that China favours doing business with countries where political rights are limited. Sat, 01 Aug 2009 00:00:00 GMT http://hdl.handle.net/2027.42/64431 Title: Does the Entry Mode of Foreign Banks Matter for Bank Efficiency? Evidence from the Czech Republic,Hungary, and Poland<br/><br/>Authors: Thi, Ngoc-Anh Vo; Vencappa, Dev<br/><br/>Abstract: This paper investigates the impact of specific modes of entry of foreign banks, i.e. greenfield investment versus merger and acquisition, on bank performance in three transition economies ñ the Czech Republic, Hungary, and Poland. We use stochastic frontier analysis to model and measure the cost efficiency of banks. We adopt a maximum likelihood approach to estimation in which the variance of the one-sided error term is modeled jointly with the cost frontier, thus enabling us to retrieve efficiency scores, as well as estimating the various determinants of X-inefficiency. We first find that foreign banks are generally more cost efficient than their domestic counterparts, a result that confirms those of the existing empirical literature. We then turn our focus to comparative performance of greenfield banks versus merger and acquisition banks (M & As), and of M & As versus domestic banks. The results show that on average, M & As are surpassed in terms of efficiency by greenfields banks, but no cost efficiency difference is apparent between M & As and domestic banks. However, we find a strong age effect with respect to M & As which suggests that the evolution of M & Así efficiency follows an inverse U-shape, that means M & As tend to get more inefficient following the acquisition, but approximately 4 years and a haft later, their efficiency starts to improve. Sun, 01 Jun 2008 00:00:00 GMT http://hdl.handle.net/2027.42/64430 Title: Market Globalization by Firms from Emerging Markets and Small Countries: an Application of the Neoclassical Trade Model<br/><br/>Authors: Agmon, Tamir<br/><br/>Abstract: The changes in globalization and in the world of international business make it necessary to rethink the basic model of the economics of international business. For most of the 2nd half of the 20th centuryinternational business was about how large companies in the developed countries increase their valuevia international business activities. Not surprisingly the research in the economics of international business from Caves, Kindleberger, and Hymer to Buckley and Casson, Dunning, and many others was based on models of industrial organization. The world has changed and international business has become a two-way street where firms and governments from emerging markets and small countries are as active as the developed countries MNEs and their governments. In this paper the basic international trade model is used to gain insights of the new world of international business. In particular, a dynamic model of changing factor intensity and of creating local specific competitive and comparative advantages for firms and governments from emerging markets is presented and discussed. Wed, 01 Jul 2009 00:00:00 GMT http://hdl.handle.net/2027.42/64429 Title: Regional Determinants of FDI Distribution in Poland<br/><br/>Authors: Chidlow, Agnieszka; Young, Stephen<br/><br/>Abstract: In this paper we examine the location determinants of the inflow of Foreign Direct Investment (FDI) into Poland, at a regional level. Using survey data from an online questionnaire in February 2005 and a multinomial logit model incorporating the investorís specific characteristics, we show that knowledge-seeking factors alongside market and agglomeration factors, act as the main drivers for the inflow of FDI to the Mazowieckie region (including Warsaw), while efficiency and geographical factors encourage FDI to the other areas of Poland. Some implications are drawn for FDI attraction policy in Poland. Sat, 01 Nov 2008 00:00:00 GMT