This research investigates the information content of the translation information resulting from exchange rate fluctuations. Two hypotheses are examined. The dollar movement hypotheses investigate whether there is a positive relationship between security valuation and the translation information and whether the market assigns different weights to translation gains and losses in both the depreciating and appreciating exchange rate environments. The geographic concentration hypothesis tests whether the market's response to the translation information is geographically sensitive. Prior research on SFAS No. 8 and SFAS No. 52 has concentrated on the price and trading volume responses to the deliberations and issuance of these two accounting statements. Soo and Soo (1994) examine the long-term effect of the disclosure requirement under SFAS No. 52 on MNEs' security prices from 1981 to 1987. However, they fail to address two important issues pertinent to the MNE research--the effects of exchange rate changes and the geographic concentration. The dollar movement hypotheses provide strong evidence that under both the appreciating and depreciating exchange rate environments, a positive relationship exists between security returns and the translation information when MNEs disclose translation losses in stockholders' equity. The findings also provide evidence for a positive or at least non-negative relationship between security returns and the translation information when MNEs disclose translation gains. The findings provide evidence that the positive relationship is greater in appreciating than in depreciating exchange rate environment for losses, but no evidence of such a difference exists for gains. The evidence also indicates that the market reacts more to the translation information when translation losses are reported than when translation gains are reported in both exchange rate environments. The examination of the impact of the geographic concentration of MNEs' foreign operations provides limited evidence to support the geographic concentration hypothesis. One possible explanation for the weak findings is that the larger degree of the aggregation of some of the geographic disclosures prevents the market from impounding the geographic information.

Abstract -   Background: Corporate social responsibility (CSR) has been a concept related to corporations for decades and is still highly relevant. The concept has been developed throughout the years, resulting in an extensive concept. This thesis, however, defines CSR as a corporation’s willingness, engagement and ability to participate in societal objectives.   Purpose: The purpose of this master thesis is to analyse business management of CSR. More specifically, in the context of MNEs subsidiaries implementation and management of CSR in practice relating to services, retailing and manufacturing industries.     Method: A qualitative multiple case study was conducted in order to carry out the purpose. The empirical data was collected by doing 14 semi-structured interviews from five MNEs in three different industries.    Findings: Common findings in all five MNEs are, a global management team in all organizations, that the organizational goal is in line with the organizational standard and that all MNEs encounter a local demand. Moreover, all five MNEs were found to measure, track and evaluate their processes by using one or a couple evaluation methods. Lastly, it was clear that all responsibilities within Carroll's pyramid of CSR were valued within the participating MNEs and that CSR is believed to become increasingly more important in the future.    Conclusion: The final conclusion of this thesis is that the importance of CSR will increase in the future for MNEs and its subsidiaries based on the current market situation. Furthermore, MNEs tend to manage and implement CSR in subsidiaries based on a global framework. The amount of local adaptation differs between industries and MNEs, however, if the CAGE distance is bigger the local adaptation tends to be bigger. / Sammanfattning -   Bakgrund: CSR har varit ett koncept förknippat med företag i årtionden och det är fortfarande mycket relevant. CSR har utvecklats genom åren, vilket har resulterat i ett brett koncept. I denna avhandling definieras CSR som företagens vilja, engagemang och förmåga att delta i mål som gynnar samhället.   Syfte: Syftet med denna magisteruppsats är att analysera företagsledningen av CSR. Närmare bestämt i kontexten av multinationella företags dotterbolags utförande och förvaltning av CSR i praktiken, i relation till företag inom, tjänste-, återförsäljnings och tillverkningsindustrin.   Metod: Flera kvalitativa fallstudier har utförts för att uppfylla syftet med denna uppsats. Empirin är baserad på 14 semistrukturerade intervjuer med fem multinationella företag i tre olika industrier.   Resultat: De gemensamma resultaten för alla fem deltagande multinationella företagen är, ett globalt ledarskapsteam i sin verksamhet, att verksamhetsmålet är i linje med organisationens standard och att de alla upplever en lokal efterfrågan. Vidare fann man att alla fem multinationella företagen mäter, spårar och utvärderar sina processer genom att använda ett eller ett par utvärderingsmetoder. Slutligen var det tydligt att alla ansvarsområden inom Carroll´s CSR-pyramid värderades inom de deltagande företagen och att de alla tror att CSR kommer att bli allt viktigare i framtiden.     Slutsats: Slutsatsen i denna avhandling är att CSR kommer att öka i framtiden för multinationella företag och dess dotterbolag baserat på den nuvarande marknadssituationen. Dessutom tenderar multinationella företag att hantera och genomföra CSR i dotterbolag baserat på en global ram. Mängden lokal anpassning skiljer sig mellan branscher och multinationella företag, om CAGE-avståndet är större tenderar den lokala anpassningen att vara större.

This study examines the determinants of inward foreign direct investment to OECD countries. The focus is on horizontal FDI. The purpose of the research is to contribute to the ongoing research, and adding value. This is done by using a dynamic perspective of time, and controlling for country-specific characteristics. The thesis uses panel data covering all 36 OECD countries over a 23 year long time period, 1995-2017. Three regressions have been done using a linear fixed effects model, as well as four addition regressions testing the robustness of the results. Earlier studies have received spread results, as have this study. It found market size, economic stability, trade openness, and currency value as significant determinants of the inward flow of FDI to OECD countries.

Corporate social responsibility (CSR) is an important subject in business administration, and has been for many years. Over the past few years it has been become an increasingly debated topic. The CSR subject mainly focuses on multinational enterprises (MNEs), resulting in a research gap concerning CSR in small and medium size enterprises (SMEs). SMEs outline the majority of all companies on the European market; therefore, it is empirically interesting to further investigate how SMEs perceive CSR commitment. The purpose of this dissertation is to explain how CSR commitment of internal and external stakeholders influences CSR commitment in SMEs. The research was conducted with a quantitative survey. The data collected with the survey was tested and analyzed with both an explanatory and exploratory research strategy. Explanatory research was performed in order to test the derived hypotheses and explain the research question. Exploratory research was then performed in order to provide a further understanding of how SMEs view stakeholders and their CSR commitment. These two research strategies revealed that internal and external stakeholders influence CSR commitment in SMEs. However, SMEs perceive some stakeholders similarly because of their relationship with the company. There are three main concepts of CSR commitment: environmental, social and financial responsibility. Results showed that financial CSR is considered distinctly different from the two other measured CSR concepts. The theoretical contributions may be of importance to owners of SMEs and MNEs in order to gain a deeper understanding of CSR as a subject. Also, findings can help scholars interested in further researching CSR commitment in SMEs. The methodological contributions of this dissertation are of relevance for future research on the subject, since the developed instrument for measuring CSR commitment was successful. Without an established measure for this area, this instrument enables further development and thereby more valid research regarding CSR commitment and SMEs.

The last two centuries have been distinguished by technological innovation, liberalization and globalization of the world economy. Out of this environment the multinational enterprises (MNEs) have arisen -seeking the best profit opportunities around the world without consideration to poverty and equality in the host countries. This has raised the interest of the present study where the objective is to assess the impact MNEs have on the host country in terms of transferring know-how. By testing two hypotheses, the study attempts to analyze whether MNEs entail a transfer of skills and also identifies the extent to which MNEs are a potential source of skill-upgrading. The research is realized by a qualitative minor field study in Dakar where 24 semi-structured interviews are carried out at three MNEs and three Senegalese enterprises. The interviews are jointly analyzed with a theoretical framework in order to determinate if there are significant differences between the two types of enterprises concerning the wage-setting, working conditions as well as transfer of know-how. The result shows that MNEs have more training opportunities then local enterprises, the working conditions do not differ significantly. Further there is no evidence found for MNEs paying higher wages then local enterprises judged by the general attitude of the interviewees. It is therefore assumed to be some labor mobility, implying that the training contributed by MNEs might work a source of skill-upgrade for the workforce in Dakar.

<p>The last two centuries have been distinguished by technological innovation, liberalization and globalization of the world economy. Out of this environment the multinational enterprises (MNEs) have arisen -seeking the best profit opportunities around the world without consideration to poverty and equality in the host countries. This has raised the interest of the present study where the objective is to assess the impact MNEs have on the host country in terms of transferring know-how. By testing two hypotheses, the study attempts to analyze whether MNEs entail a transfer of skills and also identifies the extent to which MNEs are a potential source of skill-upgrading. The research is realized by a qualitative minor field study in Dakar where 24 semi-structured interviews are carried out at three MNEs and three Senegalese enterprises. The interviews are jointly analyzed with a theoretical framework in order to determinate if there are significant differences between the two types of enterprises concerning the wage-setting, working conditions as well as transfer of know-how. The result shows that MNEs have more training opportunities then local enterprises, the working conditions do not differ significantly. Further there is no evidence found for MNEs paying higher wages then local enterprises judged by the general attitude of the interviewees. It is therefore assumed to be some labor mobility, implying that the training contributed by MNEs might work a source of skill-upgrade for the workforce in Dakar.</p>

This study aims to explore the factors, aspects, and trends considered in the International Market Selection (IMS) process. Consequentially, it develops a deeper understanding of the challenges faced by home region oriented multinational enterprises (MNEs) during international expansion. The research question focuses on how home region oriented MNEs approach and execute market selection within the internationalization process. The importance of IMS is emphasized, as many MNEs struggle with Internationalization, and only a few achieve global presence. While previous academic literature highlighted the significance of market selection, a comprehensive model encompassing all relevant criteria on a macroeconomic level was lacking. To address this gap, in-depth interviews are conducted with practitioners and experts to gather qualitative insights. The main findings reveal that MNEs primarily face three key challenges when internationalizing and selecting new markets: Company internal aspects, product market aspects, as well as the macroeconomic situation. This thesis focuses on the macroeconomic assessment aspect and develops a holistic, transparent, applicable, and current framework: the multicriteria decision making framework. The framework bases on 53 indicators, structured according to the PESTLE model and helps selecting the right market based on macroeconomic conditions. To demonstrate the framework's applicability, a case study is conducted in collaboration with a global chemical company targeting the Latin American market. Using the framework, a clear recommendation on country attractiveness is provided. The company could leverage this information to maintain or intensify operations in high-scoring countries such as Chile, Mexico, or Brazil, while exercising caution or avoiding low-scoring countries such as Argentina or Venezuela. Accordingly, does this study not only explore behaviors and challenges faced by home region oriented MNEs but also introduce an applicable framework for IMS in the real business world. The framework's practicality makes it valuable for future research and contributions in the field of IMS.

Competitive advantage has been an important aspect of strategy ever since Porter introduced the term in 1985. Today, small and medium enterprises (SME) make up a large part of the world´s economy. SMEs often operate in fast changing markets where innovation and growth are essential for success. To be able to survive they must ensure their competitiveness towards both SMEs and also larger competitors. Since many SMEs face limitations in their resources it is necessary for them to know how to use them efficiently. All this puts pressure on many SMEs to ensure their success and they need knowledge about how to create a competitive advantage while still managing their business limitations. Therefore, the purpose of this thesis is to create a better understanding for what existing resources SMEs can use to gain a competitive advantage on the market. To create a deeper understanding of what resources that Swedish SMEs can use to gain a competitive advantage a qualitative research approach was used. Semi-structured interviews were conducted with three different Swedish SMEs. The gathered data was then analyzed with a thematic approach to easier compare it with previous literature. The findings of this analysis showed that factors such as knowledge, relations, niche strategy and internationalization were considered important for SMEs to gain a competitive advantage. / Att inneha en konkurrensfördel har varit en viktig aspekt av företagsstrategi enda sedan Porter introducerade termen 1985. I dag utgör små och medelstora företag (SME) en stor del av världens ekonomi. Små och medelstora företag verkar ofta på snabbväxande marknader där innovation och tillväxt är avgörande för framgång. För att kunna överleva måste de säkerställa sin konkurrenskraft gentemot både SMEs och större konkurrenter. Eftersom många små och medelstora företag står inför begränsningar med sina resurser är det nödvändigt för dem att veta hur man använder dem effektivt. Allt detta sätter press på många små och medelstora företag för att säkerställa deras framgång och därför behöver de kunskap om hur man skapar konkurrensfördelar medan de fortfarande är medvetna om sina begränsningar. Syftet med denna kandidatuppsats är därför att skapa en bättre förståelse för vilka befintliga resurser som små och medelstora företag kan använda för att skapa en konkurrensfördel på marknaden. För att skapa en djupare förståelse för vilka resurser som små och medelstora svenska företag kan använda för att skapa en konkurrensfördel användes en kvalitativ forskningsansats. Halvstrukturerade intervjuer genomfördes med tre olika små och medelstora svenska företag. Den insamlade datan analyserades sedan med en tematisk metod för att lättare jämföra den med tidigare litteratur. Resultaten av denna analys visade att faktorer som kunskap, relationer, nischstrategi och internationalisering ansågs vara viktiga för små och medelstora företag för att skapa en konkurrensfördel.

Innovation is crucial for the long-term survival of MNEs. Especially, in small nations like the Netherlands, innovation is important to be competitive in the international market. The innovative capacity of MNEs dependents on each employee’s ability to act in an innovative type of way, which makes it essential to enhance employee innovative behaviour. A participative leadership style is one way of enhancing employee innovative behaviour. This relationship could be strengthened by different work climates. This thesis investigates a pro-active and risk-taking work climate because those climates have similar characteristics as a participative leadership style. The purpose of this thesis is to explain the relationship between participative leadership and employee innovative behaviour, and how this relationship is contingent on a risk-taking and pro-active work climate in the context of Dutch MNEs. The research is done through a quantitative method by sending a survey to five Dutch MNEs, active in different branches. The results show a positive significant relationship between participative leadership and employee innovative behaviour, and a positive significant moderating effect of a pro-active work climate on this relationship. Besides, only when certain departments are selected, a positive significant moderating effect of a risk-taking work climate is found. This thesis contributes to the literature by showing a positive significant direct effect of participative leadership on employee innovative behaviour. Moreover, this thesis investigated a pro-active and risk- taking work climate as moderating variables on this relationship which has not been done before.

Disposer de descriptions tridimensionnelles d'une scène urbaine intéresse de plus en plus d'applications industrielles. Les fournisseurs de services en télécommunications ont besoin de Modèles Numériques Urbains (MNU) précis pour alimenter les outils de planification qui leur permettent de déployer et de densifier leurs réseaux cellulaires. Avec comme objectif la fourniture d'un produit destiné aux applications des télécommunications, cette thèse traite de la modélisation de bâtiments. Les contributions principales de cette thèse sont la présentation, l'étude et le développement de plusieurs outils pour la reconstruction automatique de bâtiments. Une contribution originale et importante est l'algorithme de reconstruction automatique des façades. Il permet la reconstruction des façades sans aucun a priori sur la forme du bâtiment traité ni sur l'orientation de ses façades. Nous montrons comment utiliser les points reconstruits sur les façades pour corriger les limites des bâtiments dans un MNE (Modèle Numérique d'Elévation) ou pour guider des contours actifs. Nous présentons aussi un système de modélisation automatique des bâtiments basé sur les outils que nous avons développés. Ce système de modélisation de scène urbaine se compose des trois étapes suivantes : (1) segmentation du MNE initial en plans horizontaux pour retrouver les régions planes qui permettent de décrire les toits des bâtiments, (2) approximation polygonale des contours des plans pour construire un modèle initial et (3) orthogonalisation de ces modèles de bâtiments. Nous proposons une procédure de validation des résultats basée sur des outils télécoms. Les résultats montrent que ces données sont satisfaisantes pour déployer un réseau et le maintenir dans une zone rurale et sub-urbaine.