One of the specific characteristics of Austrian Foreign Direct Investment (FDI) abroad is that a large part is carried out by firms, which themselves are affiliates of foreign Multinational Enterprises (MNEs). Such investment is termed indirect FDI in order to distinguish it from direct FDI, made by Austrian-owned firms. The objective of this paper is to analyse, whether the relatively better domestic employment performance of domestic firms (direct FDI) compared to foreign-owned firms (indirect FDI) can be linked to FDI abroad. Based on an analysis of the sales and trade structure of a sample of Austrian investors in Central and East European Countries (CEECs), this paper tests the hypothesis that these two groups of investors have different motives to invest in CEECs and therefore their activities in CEECs differ by type (sales affiliate, production abroad) and consequently the employment effects at home. Regression results confirm that direct FDI are more strongly determined by labour costs and exhibit an employment pattern related to a deeper international division of labour (including production), while indirect FDI is based relatively more on market seeking investment. Empirical results also confirm that employment effects at home differ. The positive (negative) effect of one additional unit of parent (affiliate) sales on domestic employment for indirect FDI compared to direct FDI is larger (smaller). The - despite this empirical fact - relatively better domestic employment performance of direct FDI is explained by their superior sales performance, resulting from restructuring their international division of labour. / Series: Working Papers Series "Growth and Employment in Europe: Sustainability and Competitiveness"

This chapter assesses the effects of "Eastern" EU-enlargement on the race for FDI and the policy implications. We start from the proposition that the evolving production patterns of incumbent and new member states determine the need for and the justification of location policy (LP) and FDI promotion policy (FDI-PP). On the basis of empirical production patterns, it is argued that while the specialisation outcome dominates in the short run, the convergence scenario is more likely to prevail in the medium term. Therefore, old and new EU-members will compete increasingly for the same type of FDI. How EU-enlargement per se affects the spatial distribution of inward FDI is described next. The role of FDI-PPs and LPs in an enlarged EU are discussed on the basis of the convergence outcome. Since the new economics of location competition and of FDI-promotion cast serious doubt on the economic justification and effectiveness of FDI-PP, the chapter concludes with a basic dilemma in the race for FDI: namely, the greater ineffectiveness of FDI incentives in the Single Market and fewer possibilities for differentiation of LPs. The latter is due to harmonisation pressures, which calls for innovative policy strategies by central and regional authorities. / Series: Department of Economics Working Paper Series

The Central- and East European Countries have lowered their corporate tax rates substantially in order to induce shifts of production capacity to their countries. This paper analyses empirically how inward Foreign Direct Investment (FDI) flows channeled to these countries reacts to these tax policies. We estimate a panel of 35 bilateral country-relationships over a period of 1995-2002. Results suggest a semielasticity of -2.93 which is in line with results derived in studies mainly on OECD countries. This indicates that from an individual country perspective, tax-lowering strategies have been successful in the past, yet they may not be a successful policy option for the future when privatization-related FDI will decrease. / Series: Discussion Papers SFB International Tax Coordination

The internationalisation of Chinese firms has attracted attention worldwide although most of Chinese MNEs are still in their early stage of internationalisation. Chinese firms internationalisation has unique characteristics due to their home country s unique political environment, culture and economic structure. This thesis aims to investigate the implications of both of short-term stock market performance and long-term operating performance of outward foreign direct investment (OFDI) by Chinese firms. Drawing on signalling theory and the institution-based view, the thesis firstly examines the extent of stock market reactions to the announcement of cross-border merger and acquisition (M&A) deals from a financial perspective, based on an event study of a sample of Chinese firms during the period 2000-2012. The findings indicate that Chinese firms cross-border M&As result in a positive stock market reaction. The shareholders of Chinese firms that acquire a target firm in a host country with a low level of political risk gain higher cumulative abnormal returns than those firms targeting companies in countries with a high level of political risk. However, the shareholders of Chinese state-owned enterprises experience lower abnormal returns compared with those of Chinese privately owned firms when engaging in cross-border M&A deals. The thesis further examines the impact of M&As on Chinese firms post-acquisition operating performance by integrating organisational learning theory with the institution-based view. The findings indicate that firms with serial cross-border M&As achieve better performance than those engaged in first-time cross-border M&As, and those with horizontal M&As perform better than those carrying out vertical M&As. The positive effects of acquisition experience and horizontal acquisitions on the post-acquisition performance of Chinese acquiring firms are reinforced by the institutional quality and language similarity of host countries. Finally, this thesis investigates from a management perspective how Chinese MNEs adopt different management strategies (e.g. expatriates and subsidiary autonomy) to respond to environmental challenges and improve the performance of overseas subsidiaries. Drawing on the resource dependence theory, this thesis examines the indirect effects of expatriates on subsidiary performance via subsidiary autonomy based on a survey sample of Chinese MNEs. The findings show that an increase in expatriates reduces the level of subsidiary autonomy and thus negatively affects subsidiary performance. This study also finds that the institutional quality of host countries reinforces the negative impact of expatriates on subsidiary autonomy, but reduces the importance of the latter on subsidiary performance.

Made available in DSpace on 2014-06-11T19:24:17Z (GMT). No. of bitstreams: 0 Previous issue date: 2010-04-23Bitstream added on 2014-06-13T20:27:08Z : No. of bitstreams: 1 ruppert_las_me_arafcl.pdf: 924784 bytes, checksum: 412c3938ee0364e93aec67d9e4532404 (MD5) / Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES) / Este trabalho tem o objetivo de analisar o processo de internacionalização via investimento direto externo (IDE) das empresas espanholas e coreanas a partir dos anos 90. Para isso, será feita uma revisão das abordagens não convencionais da lógica do investimento direto externo e de seus condicionantes. Ademais, serão tratadas as mudanças nos ambientes macroeconômicos e institucionais desde o pós-guerra e seus impactos sobre as estratégias de concorrência das corporações e dos movimentos de IDE. É a partir deste mapeamento global do IDE que se dará o estudo dos determinantes, das características e da evolução do investimento direto externo das empresas espanholas e coreanas nas décadas de 1990 e 2000 / This dissertation aims to analyze the internationalization process through foreign direct investment (FDI) of Spanish and Korean companies since the 90's. For that, it will be made a review of unconventional approaches about the logic of foreign direct investment and its limitations. Moreover, it will be explicited the changes in macroeconomic and institutional environments in the post-war and its impact on the competitive strategies of corporations and FDI flows. It is from this FDI global mapping that it will be studied the determinants, characteristics and evolution of foreign direct investment of Spanish companies and Korea in the past two decades

No cenário de crescente envolvimento do setor privado em questões sociais públicas, em que a distinção entre o público e o privado torna-se cada vez mais tênue e empresas são conclamadas para a solução de demandas sociais, disseminam-se práticas de Responsabilidade Social Corporativa (RSC), e organizações multinacionais passam, gradativamente, a desenvolver iniciativas sociais além de suas fronteiras, enfrentando desafios inusitados. O Investimento Social Privado (ISP), que é definido na literatura brasileira como o repasse de recursos voluntários a projetos sociais e que representa a dimensão da RSC focada na comunidade e nas ações sociais voltadas ao interesse público (GIFE, 2013), vem se tornando objeto constante de pesquisas no Brasil. Dentre os desafios relacionados ao ISP, aponta-se a lacuna de estudos que analisem a internacionalização do Investimento Social Privado, fato este particularmente significativo visto que multinacionais brasileiras vêm expandindo suas práticas sociais para além das fronteiras do país (NOGUEIRA; SCHOMMER, 2009). Neste contexto, a presente pesquisa qualitativa e exploratória, realizada através de estudos de casos múltiplos em quatro representativas multinacionais brasileiras que investem socialmente em países estrangeiros nos quais mantêm atividades, se propõe a investigar como ocorre a internacionalização do Investimento Social de multinacionais brasileiras, analisando seus principais desafios e limitações. Os resultados apontam como principal desafio à internacionalização do ISP brasileiro o seu processo de governança, caracterizado pela baixa participação de seus stakeholders ao longo do processo, especialmente das comunidades locais, fato potencializado pela falta de articulação de atores locais em determinados países. Assim, o estudo propõe uma reflexão sobre o Investimento Social realizado na atualidade por multinacionais brasileiras no exterior, visto, de um lado, as preocupações do setor empresarial em relação ao respeito aos povos locais e, de outro, o baixo envolvimento das empresas com as demais partes interessadas. / In increasing private sector involvement in social public issues, where the distinction between public and private becomes tenuous and companies are invited for the solution of social demands, Corporate Social Responsibility (CSR) practices are spreading, and multinational companies are gradually developing social initiatives beyond its borders, facing numerous issues. The Private Social Investment (PSI), which is defined in Brazilian literature as the voluntary transfer of resources to social projects and that is the dimension of CSR focused on the community and on the public interest (GIFE, 2012), becomes a constant subject of study in Brazil in recent years. Among the challenges related to PSI, it is pointed the gap in the investigation of the internationalization of Brazilian Private Social Investment, as the phenomenon of expansion of Brazilian multinationals, often accompanied by the promotion of social practices by these global companies in the countries in which they operate (NOGUEIRA; SCHOMMER, 2009). In this context, this qualitative and exploratory study conducted through case studies in four representative Brazilian multinationals that invest socially in foreign countries in which they hold activities , proposes to investigate how the internationalization of Social Investment of Brazilian multinationals occurs, analyzing its main challenges and limitations. The results indicate that the main challenge to the internationalization of Brazilian PSI is related to its governance process, characterized by low participation of its stakeholders, particularly local communities, throughout the process, a situation aggravated by the lack of coordination of local actors in certain countries. Thus, the study proposes a reflection on the current phenomenon of social investment led by Brazilian multinationals abroad, since on the one hand, the concerns of the business sector in relation to respect for local people, and on the other, the low involvement of companies with other stakeholders.

Este estudo objetiva compreender como ocorre o processo de internacionalização de uma instituição de ensino superior (IES) brasileira. Em um cenário globalizado em que a competição se acirra para os países e para as empresas e que depende cada vez mais da geração do conhecimento, as IES passam a ter um papel destacado na formação de pessoas com alta qualificação e na geração de conhecimento para os sistemas de inovação dos países. Foi conduzida uma pesquisa exploratória e qualitativa que adotou como estratégia o estudo de caso múltiplo com quatro IES brasileiras e suas diferentes formas de internacionalização: i) a celebração de convênios internacionais da Universidade de São Paulo (USP); ii) a aquisição de participação acionária no New College of California (NCC) pelo Centro Universitário Campo Grande (UNAES); iii) a aquisição de participação acionária na Universidade Anhembi Morumbi (UAM) pela rede internacional de universidade Laureate e iv) a formação de joint venture entre a Kroton Educacional e o grupo Apollo para a criação da Faculdade Pitágoras e também dos seus convênios internacionais com outras universidades. Foram empregadas as técnicas de investigação de análise documental, entrevistas focadas e observação direta. A estratégia analítica adotada foi baseada em proposições teóricas para organizar as evidências coletadas para responder às perguntas de pesquisa. Como a internacionalização de IES consiste em um fenômeno complexo, foi necessário articular três conjuntos de conceitos provenientes de diferentes referenciais teóricos, considerando-se: i) conceitos de internacionalização de IES e globalização com base na visão de organismos multilaterais como Banco Mundial, OCDE e UNESCO; ii) aspectos da internacionalização de empresas com base na abordagem econômica da teoria de internalização de empresas de Rugman e Verbeke; e iii) conceitos do campo teórico de Ensino Superior Internacional. Os resultados apresentados por este estudo indicam os elementos principais que caracterizaram a forma como ocorreu o processo de internacionalização das IES analisadas, com destaque para: i) detenção de uma visão estratégica que contemple, pelo menos em parte, os conceitos dos organismos multilaterais; ii) formação de competências organizacionais alinhadas com a natureza das IES (pública e privada) e as formas de mobilidade (instituições, programas e acadêmicos) praticadas ou planejadas; iii) aproveitamento de vantagens específicas oferecidas pelo Brasil e por outros países para a instalação de atividades internacionais das IES; e iv) implementação de um conjunto de práticas de gestão da educação transnacional e acadêmica. / This study aims the comprehension of the internationalization process of Brazilian higher education institutions (HEI). As a part of a globalized world dependent on knowledge workforce to face increasing competition among countries and companies, HEI play an important role in grooming highly skilled people and providing knowledge to build up the countries innovation systems. The results reported draw on a multi-case study involving exploratory and qualitative research to investigate four Brazilian HEI and their different ways of internationalization, namely: i) international agreements at University of Sao Paulo (USP); ii) the acquisition of equity stake in the New College of California (NCC) by the University Center of Campo Grande (UNAES); iii) the acquisition of equity stake in the Anhembi Morumbi University (UAM) by Laureate Education, Inc.; and iv) joint venture between Kroton Educational and Apollo International to fund Pitagoras Faculty and also international agreements with other universities. The analysis of data collected by means of document analysis, focused interviews and direct observation rests on theoretical propositions to organize evidences in an attempt to answer the research questions. Since HEI internationalization is a complex phenomenon, the analysis involves three sets of concepts from different theoretical backgrounds, namely: i) concepts of HEIs internationalization and globalization, as suggested by multilateral organizations such as OECD, UNESCO and World Bank; ii) concepts of internationalization of companies, as found in Rugman & Verbekes economic approach; and iii) concepts developed within the domain of International Higher Education. The results presented by this study indicate the main elements that characterize how the analyzed HEI internationalization process occurred, such as: i) developing a strategic vision envisaging concepts emphasized by multilateral organizations; ii) building organizational competences in line with the nature of both private and public HEI and their planned or current mobility practices (of institutions, programs, and scholars); iii) exploiting specific advantages offered either in Brazil or in the countries for HEIs international activities; and iv) articulating management practices of transnational and academic education.

No cenário de crescente envolvimento do setor privado em questões sociais públicas, em que a distinção entre o público e o privado torna-se cada vez mais tênue e empresas são conclamadas para a solução de demandas sociais, disseminam-se práticas de Responsabilidade Social Corporativa (RSC), e organizações multinacionais passam, gradativamente, a desenvolver iniciativas sociais além de suas fronteiras, enfrentando desafios inusitados. O Investimento Social Privado (ISP), que é definido na literatura brasileira como o repasse de recursos voluntários a projetos sociais e que representa a dimensão da RSC focada na comunidade e nas ações sociais voltadas ao interesse público (GIFE, 2013), vem se tornando objeto constante de pesquisas no Brasil. Dentre os desafios relacionados ao ISP, aponta-se a lacuna de estudos que analisem a internacionalização do Investimento Social Privado, fato este particularmente significativo visto que multinacionais brasileiras vêm expandindo suas práticas sociais para além das fronteiras do país (NOGUEIRA; SCHOMMER, 2009). Neste contexto, a presente pesquisa qualitativa e exploratória, realizada através de estudos de casos múltiplos em quatro representativas multinacionais brasileiras que investem socialmente em países estrangeiros nos quais mantêm atividades, se propõe a investigar como ocorre a internacionalização do Investimento Social de multinacionais brasileiras, analisando seus principais desafios e limitações. Os resultados apontam como principal desafio à internacionalização do ISP brasileiro o seu processo de governança, caracterizado pela baixa participação de seus stakeholders ao longo do processo, especialmente das comunidades locais, fato potencializado pela falta de articulação de atores locais em determinados países. Assim, o estudo propõe uma reflexão sobre o Investimento Social realizado na atualidade por multinacionais brasileiras no exterior, visto, de um lado, as preocupações do setor empresarial em relação ao respeito aos povos locais e, de outro, o baixo envolvimento das empresas com as demais partes interessadas. / In increasing private sector involvement in social public issues, where the distinction between public and private becomes tenuous and companies are invited for the solution of social demands, Corporate Social Responsibility (CSR) practices are spreading, and multinational companies are gradually developing social initiatives beyond its borders, facing numerous issues. The Private Social Investment (PSI), which is defined in Brazilian literature as the voluntary transfer of resources to social projects and that is the dimension of CSR focused on the community and on the public interest (GIFE, 2012), becomes a constant subject of study in Brazil in recent years. Among the challenges related to PSI, it is pointed the gap in the investigation of the internationalization of Brazilian Private Social Investment, as the phenomenon of expansion of Brazilian multinationals, often accompanied by the promotion of social practices by these global companies in the countries in which they operate (NOGUEIRA; SCHOMMER, 2009). In this context, this qualitative and exploratory study conducted through case studies in four representative Brazilian multinationals that invest socially in foreign countries in which they hold activities , proposes to investigate how the internationalization of Social Investment of Brazilian multinationals occurs, analyzing its main challenges and limitations. The results indicate that the main challenge to the internationalization of Brazilian PSI is related to its governance process, characterized by low participation of its stakeholders, particularly local communities, throughout the process, a situation aggravated by the lack of coordination of local actors in certain countries. Thus, the study proposes a reflection on the current phenomenon of social investment led by Brazilian multinationals abroad, since on the one hand, the concerns of the business sector in relation to respect for local people, and on the other, the low involvement of companies with other stakeholders.

ABSTRACTDate: Seminar Date: 2 June 2020, Submission Date: 7 June 2020Level: Bachelor thesis in Business Administration, 15 crInstitution: School of Business, Society and Engineering, Mälardalen UniversityAuthors: Gabriel Arteaga Fakhri Qusay Shehab Christine Katusabe Mukidi(96/03/31) (99/01/05) (97/05/15)Title: Global Value Chains, the effects and responses of Multinational Enterprises in a crisis environment: A case study on the effects of the COVID-19 crisisTutor: Edward GillmoreKeywords: Global Value Chain, Contingency, Resource-based Management, Global Crisis, Multinational EnterprisesResearch questions:RQ 1: How does a global crisis affect the parts of multinational enterprises’ global value chain?RQ 2: How do multinational enterprises respond to a global crisis with their functions and actions?Purpose: This study seeks to gain in-depth understanding of how a global crisis can affect an MNE’s production and what response an MNE can use to mitigate the consequences of a global crisis.Method: The method consisted of an abductive approach with the combination of secondary data and semi-structured qualitative interviews with varied top- and middle-level managers within the chosen MNE, to help answer the research questions of the thesis.Conclusion: The global crisis disrupted parts of the MNE’s GVCs and affected demand, business relationships and caused production facilities to shut down. Since the GVCs are being impacted, the COVID-19 crisis has also impacted the way in which an MNE operates. Both MNEs showed the importance of flexibility and adapted their strategies and operations as the crisis progressed.

In this master thesis, the knowledge exploitation factors in multinational enterprises are studied. Hereby, the researchers analyse the perspective of subsidiary middle managers to understand their influence on knowledge exploitation and to understand the factors that influence middle managers in subsidiaries to share their knowledge. The aim is to provide practical implications for multinational enterprises on how to enhance knowledge exploitation from the subsidiaries and to contribute to the existing theory on knowledge exploitation factors in the light of middle managers. Thereby, the chosen qualitative research approach is abductive grounded theory, including interviews with middle managers from mostly European subsidiaries of multinational enterprises. The findings present which factors impact middle managers to share knowledge with the headquarters. Additionally, influencing factors of middle managers on knowledge exploitation are described. Hereby, the master thesis shows the interdependency between multiple factors of knowledge exploitation, resulting in a model to provide an overview. Furthermore, implications to the theory and practical implications are given on how multinational enterprises can enhance knowledge exploitation within the organisation.