Country portfolio analysis, a commonly used tool among companies when evaluating potential target markets, only focus on potential sales instead of including cost and risk into the equation. However, some researchers today have become aware of the importance of taking these costs and risks into account. One of these researchers is Pankaj Ghemawat, who has developed a framework called CAGE which is supposed to be a complementary tool to the country portfolio analysis model. In this thesis we study if Swedish MNCs consider the factors suggested in the CAGE-framework when evaluating emerging markets. Furthermore, we suggest some adjustments to the evaluation process. Data have been collected through a web-based questionnaire. The respondents were all headquarter managers in Swedish multinational corporations (MNCs). Our results show that the two most overlooked distances of the CAGE-framework are the cultural and the geographic distances. Hence, the two most considered were the economic and administrative distances. This is in partial accordance with Ghemawat’s theory, in which he states that the cultural distance is one of the two most overlooked distances. However, he presents administrative distance as the second most overlooked distance, which means that our thesis shows a somewhat different result than Ghemawat’s findings. A company evaluating an entry into an emerging market needs to consider the CPA-model, but this is not enough. They also need to take other factors into account. These are previous as well as future growth of the market, predicted growth for the specific product or service in the market in question, and the competitive situation in the emerging market. A consideration of these factors gives the company a complete picture of a market regarding profit potential. Thereafter, this potential needs to be adjusted for the distances in the CAGE-framework.

As emerging market economies gain increasing influence and importance in the global economy, any development with a potentially destabilizing effect on the economic performance on such countries should be carefully monitored. This paper examines one particular development: the rise of consumer debt. Through the case studies of Turkey, China, and Brazil, this paper seeks to analyze the relationship between an increase in consumer debt and a country's GDP growth in emerging markets and how a detrimental relationship could severely impact the international economy at large.

Abstract Title: Emerging Markets – A Case Study in Foreign Market Entry toBangladesh Keywords: emerging market, entry strategy, market entry, factors behind entry choice, entry mode, entry node, entry timing Background: Internationalism and international marketing are hot topics among the strategy discussions of the companies and as a result companies continuously look for new, unreached sales potential to their products and services as well as better use of their resources. Purpose: To find the most efficient international market entry strategy for companies moving from developed/transition economy to an emerging market. Theoretical framework: The base for the start of internationalisation process is company’s inner motives and resources. Motives and resources combined with the cultural distance, competition and general external environment of host country form potential company-specific risks for the entry to foreign market. Potential customers in combination with company resources shows how big is the match between market demand and what company can offer and therefore determines the potential reward. Risks and reward are both input to the decision making process where the potential benefits and drawbacks are analysed against each other. The output of this decision making is the entry strategy. Methodology: Internet was mainly used to collect secondary data about company resources, cultural distance and external environment. Interviews with 150 retailers inBangladesh were conducted to collect primary data about the competition and consumer behaviours in the hosiery market ofBangladesh. Then comparative analysis was made based on the model developed by the authors to reach to the decision. Conclusion: The most effective entry strategy for the entry to emerging markets is indirect exporting through an agent in case there is high location risk, moderately high competition risk, medium country risk and moderately low demand risk, the company has no surplus finances for big investments and no prior experience in doing business in an emerging market.

Gradually, Swedish SMEs are expanding into emerging markets in order to seize superior opportunities of growth. Within these internationalization efforts, identifying and selecting the most promising foreign target markets is regarded to be a critical success factor. The external business environment, the attractiveness of the targeted market segment in terms of the competitive situation, and the match between the customers’ needs and a company’s resources and capabilities are major factors which determine the prospects of success of establishing business in an emerging market. By applying an abductive research approach, the authors conducted a holistic single-case study of a typical case for Swedish SMEs internationalizing into emerging markets. Through that, the authors were able to answer the research questions of the paper. A theoretical framework was synthesized, combining latest research on emerging country markets with classical models. The framework guided the authors through the entire research process. Several propelling, as well as hampering factors for the case company’s prospects of success in the targeted market segment were identified. Based on the analysis of the empirical findings, the authors found that there are clear opportunities for the case company to increase its business. This conclusion is due to a weak threat of competitors in a broader context, which were regarded to not being able to satisfy the customers’ needs of key importance sufficiently. Competitors in a narrower context were regarded to not have a significant competitive advantage compared with the case company.

In recent years, ¡§China as an emerging superpower¡¨ becomes popular discussion issue, Japan as the neighboring country also makes response to this. However, Japan-China relation was not only the simple relations of country to country; two countries were influenced by Confucian culture very deep in history, having the complicated emotion each other. This topic of this article is the Japan academic circle how to think and regard China in epistemology and methodology form modern times to now. This article orders the Japanese scholars in modern times how to regard China in first, then using the train of thought to conjecture the visions that contemporary Japan face ¡§China as an emerging superpower¡¨. Finally, the author compares Japan academic circle how to regard China to find out those thought communicates or joins during that time.

The purpose of this study is to examine the volatility spillover among a country&rsquo / s foreign exchange, bond and stock markets and the volatility transmission from the global bond, stock and commodity markets to these local financial markets. The sample for the study includes data from both emerging and developed economies in the time period between 2004 and 2011. A multivariate GARCH methodology with the BEKK representation is applied for the local financial markets and global variables are included as exogenous variables into the model. The volatility integration of the financial markets of the emerging economies is stronger compared to the integration of the developed economies. Global variables have a spillover effect on the developed markets only after the global financial crisis, whereas they significantly affect the volatility in emerging markets for both the pre- and post-crisis period. North American countries in the sample, U.S. and Mexico, have low local volatility integration in the pre-crisis era and the integration rises in the post-crisis period. Moreover, they are more open to the internal and global short-term shocks in the post-crisis period. Germany and Turkey are the representatives of the EMEA (Europe, Middle East and Africa) region and they have high local market integration and are open to global shocks for both sub-periods. Far Eastern markets, Japan and Korea, also have high local market integration and their vulnerability to the global effects is large and getting larger for the post-crisis period. The most important limitation of this thesis is the difficulty of reaching sharp generalizations due to the small number of countries analyzed. This limitation can be addressed by the inclusion of a larger number of geographically dispersed countries. The most noteworthy originality of this study is the addition of the exogenous global variables for modeling volatility spillovers. Furthermore, comparison of results for emerging versus developed markets and the pre- versus post-crisis periods is another contribution of this study to the existing literature. The findings of this study can be used by investors interested in assessing the risks of investing internationally.

This dissertation attempts to contribute to our understanding of how firms can manage and benefit from its research and development (R&D) communities. In the first essay, we examine how established firms can leverage a broad R&D community to invent successfully during the early stage of a technological change. We find significant inventions by incumbents outside the existing dominant designs and relate their success to their willingness to search novel areas, explore scientific knowledge in the public domain, and form alliances with a balanced portfolio of partners. We find support for the hypotheses using data from the global semiconductor industry between 1989 and 2002. In the second essay, we examine a classical choice within an R&D community: cooperation or competition with other firms along a technology supply chain. We find that the answer depends not just on the transaction costs, strength of intellectual property protection rights, and asset cospecialization in the buyers' industries, but also the supplier's knowledge transfer capability and a typical buyer's productivity in developing licensed inventions. For instance, the effect of asset cospecialization on licensing is moderated by the factors that affect the buyers' productivity in developing external technology. Additionally, factors that reduce the buyers' development productivity can be mitigated by the supplier's knowledge transfer capability. We find empirical supports for these predictions using a cross-industry panel dataset of a sample of 345 U.S. small technology-based firms for the 1996-2007 period. In the third essay, I develop two game theoretical models to address how research competition from academic researchers affects firms' openness in disclosing intermediate R&D outcomes. Both models predict that such competition increases the firm's incentive to publish research findings, even though the firm would not have had such an incentive without the presence of the competition. The models also suggest several conditions under which the effect takes place. I further discuss the implications of ownership fragmentation for research materials within the scientific community and academic researchers' engagement in entrepreneurial activities. As implied by my models, these phenomena might instigate withholding of research findings by firms.

The task of this paper is to employ the global asset pricing theory suggested by Ferson and Harvey (1995) to study the stock markets in the devoloping countries. Ferson and Harvey (1998) clarified the relationship in the developed countries under the global asset pricing model between mispricing and risks to cross-sectional explanatory power of conditional beta constructed by predetermined lagged variable such as book-to-market-value, cash-flow, P/E ratios and other determinants. There is also significant evidence of conditional betas in the three-factor model by Fama and French (1993), and the four-factor model by Elton, Gruber, and Blake (1995), and in the following research by Ferson and Harvey (1999). This paper focuses on the recently fast growing emerging markets to provide analysis of the debate on explanatory power coming from risk exposure or mispricing, and also tries to provide evidence for the global conditional asset pricing model, identifying other patterns of conditional asset pricing model for emerging markets.

Context: Current unsustainable practices have resulted in the depletion of natural resources and a prevailing material scarcity. Urban Mining has emerged in this context and suggests the “mining” of cities or other sources in urban areas to retrieve valuable resources. It raises the topic of how urban mining as a market segment of the construction industry is like today and in the future.  Objective: The thesis sets out to study what firms in the urban mining market segment desires in terms of needs and priorities. Furthermore, what could be prioritized in the future (2030), what future scenarios could be expected and what implications these can have on organizations within the segment and on the construction industry.  Method: A foresight methodology was applied as a framework for the research design. Interview with representatives from 10 firms, including observations of their operations, resulted in a number of mutual needs shared across the urban mining segment. These were prioritized in relative importance based on a questionnaire of 67 respondents representing 44 different firms in Sweden. A combination of these studies and a review of technology trends further enabled the extrapolation of future scenarios.  Results: The findings shows that firms within the urban mining market segment prioritizes and emphasizes needs related concerns in optimization, cost control, safety, environmental and social care today. Needs related to safety, environmental and social care are indicated to remain top prioritized as a result of the future market circumstances. A holistic and lifecycle approach in urban mining practices was deemed of low priority today but was indicated to grow significantly in relative importance in the future.  Conclusion: Technology, urbanization and globalization indicates stricter and more competitive market circumstances in the future. Especially related to safety, lifecycle consideration, environmental, and social care. The research suggests that firms concerned and those operating within the urban mining segment may need to undergo transformational changes in their organization to meet what the market segment expects in the future. Moreover, the findings opens up the possibility for actors and stakeholders concerned with the construction industry to proactively go into a desired future by knowing how the future market could unfold. / Stanford University, ME310: Urban Mining

Persistent organic pollutants (POPs) are toxic chemicals that can be found in various matrices in all corners of the planet, including remote areas such as the Arctic.  Several POPs are known and monitored but given the abundance of new chemicals in commerce about which little is known, chemicals that may be new POPs are constantly being screened for. The use of flame retardants, particularly brominated flame retardants (BFRs), has been increasing for decades. PBDEs and HBCDDs are two types of BFRs that have historically been used in large volumes but recently faced legislative restrictions. However, in order to meet fire safety standards, these BFRs have been replaced by a variety of emerging flame retardants (EFRs) about which little is known especially concerning their toxicity, production volumes, and environmental behavior. The main purpose of this thesis was to investigate the occurrence and fate in indoor and outdoor environments of several EFRs and compare them with PBDEs, HBCDDs, and legacy POPs. Several indoor environments in the city of Stockholm, Sweden were sampled for dust, indoor air, and ventilation system air (Paper II).  Results from these samples revealed a number of EFRs that humans are exposed to and that are emitted from buildings through ventilation systems. These included DDC-CO, DBE-DBCH, PBT, HBB, EHTBB, and BEH-TEBP. PBDE levels seem to be declining compared to previous studies in Stockholm.  Outdoor air and soil were sampled across transects of Stockholm (Paper II) and Birmingham, United Kingdom (Paper III).  Results from these samples showed the presence of many of the same EFRs in the outdoor environment that were found in indoor environments.  Urban pulses in air were discovered for PBDEs in both cities and for some EFRs in Stockholm, indicating that the cities are sources of EFRs to the outdoor environment.  Atmospheric deposition samples were taken at two sites in northern Sweden (Paper I).  Three EFRs (DDC-CO, DBE-DBCH, and BTBPE) and two current-use pesticides (trifluralin and chlorothalonil) were identified, indicating these compounds’ potential for long range transport and global contamination.  Other legacy POPs such as HCH, PCBs, and PBDEs were measured in the deposition samples as well.  The bulk of deposition was comprised of HCH and PCBs with only minor contributions from PBDEs, chlordanes, and emerging compounds.  Finally, passive and active air sampling methods were compared for BFRs in offices in Beijing, China.  Some EFRs were identified in indoor air from China; however, BDE-209 was the most predominant compound found (Paper IV).  Air samples collected with passive samplers generally had measured FR concentrations within a factor of 2-3 of those collected with active samplers. The use of a GFF in the passive samplers resulted in concentrations of particle-bound contaminants such as BDE-209 that were more comparable to those in active samples. The positioning of the PUF in the passive samplers affected the sampling rates for gaseous compounds and particle retention on PUFs was shown to be a large source of uncertainty in passive sampling. / <p>At the time of the doctoral defense, the following papers were unpublished and had a status as follows: Paper 3: Manuscript. Paper 4: Manuscript.</p><p> </p>