Effect of Exchange Rate Fluctuation on the Financial Performance Evaluation of Multinational Companies in Nigeria

The research work examined the effect of exchange rate fluctuation on performance evaluations of multinational companies in Nigeria. The objective of the study was to examine how foreign exchange affects financial performance of multinational companies in Nigeria. This Study is based on the transaction cost theory, liquidity theory, inflation theory and managerial theory of firm performance. Secondary data source was explored in presenting the facts of the situation. The secondary data were obtained from relevant literatures, Central Bank of Nigeria Statistical Bulletin and annual report of selected multinational companies in Nigeria. Data were tested using the Ordinary Least Square Linear Regression model. Findings show that exchange rate fluctuation has significant effect on performance of multinational companies in Nigeria. As a result, the study concluded that exchange rate instability affects the operations of companies in Nigeria vis-à-vis international trade with other countries of the world. It was recommended that, Multinational Companies should develop a robust foreign exchange risk management framework which will clearly show its currency risk assessment procedures and implementation of foreign exchange risk management strategy. These strategies should be monitored and adjusted regularly. Keywords: Exchange rate, Financial Performance, Inflation rate, Interest rate, Multinationals companies, Return on Assets. DOI: 10.7176/RJFA/10-16-03 Publication date: August 31st 201

Agile Supply Chain Management in Multinational Corporations: Opportunities and Barriers

The purpose of our research is to study new opportunities in agile supply chain management, identify barriers to agile supply chain management, develop a methodology to overcome these barriers and make proposals for agile supply chain management in multinational corporations.The study and analysis of supply chain management of multinational corporations allowed us to define the specifics of the industry using the following research methods: the choice of logistics intermediaries, forecasting (indicators, flows, etc.), nomenclature groups, risk optimization, statistical data analysis.The methods of grouping and systematizing statistical data into registries were applied to assess the business agility of supply chain management and obtain results. In addition, the expert assessment method was used to assess the agility indicators of the following companies METRO Cash & Carry, Gloria Jeans and Gazprom. Procurement (timeliness and prices), supply management, product management, finished-product output and shipment management were assessed. The calculations showed that the multinational corporations METRO Cash & Carry, Gloria Jeans and Gazprom should continue to increase the agility of supply chain management and implement the SCM strategy, which will quickly address and mitigate supply chain disruptions. We also believe that the companies should adapt SCM in the organizational structure optimization in order to eliminate bottlenecks

Delving into country risk

Since the Latin American debt crisis of the early 80s, country risk analysis has accounted for a significant part of the work of research and risk management departments of banks, insurance companies, rating agencies, financial market regulators, and multinational companies. Country risk is a very broad concept, that includes sovereign risk, transfer risk, and other risks related with international financial activities. Country risk analysis requires delving into multiple fields, such as economics, finance, politics and history. This paper addresses the concept of country risk, the agents involved, the methods for assessing country risk, the payments crises, risk prevention, the assessment of country risk in the present world and the Spanish country risk regulatio

Risk determination for the implantation process of software systems

From the analysis of software companies in Argentina, weaknesses in risk management have been observed. This impacts in quality management because risk planning is a requirement specified by all standards. As part of a general study about the implantation of software systems, the aim of this work is to analyze the risks associated to such process. This proposal envisages the activities and tasks of the ISO/IEC 12207 standard transition process. For the assessment of the proposed risks, the ISO/IEC 31010 standard is adopted. Furthermore, associated procedures are suggested to either avoid or mitigate risks. The work was tested in a real environment to determine its viability. The case study consisted of the risk analysis of the implantation of the management system module of a multinational company’s advertising agency. This revealed flaws in the management of the analyzed risks and provided feedback for the study.XVI Workshop Ingeniería de Software.Red de Universidades con Carreras en Informátic

From transnational to multinational education: emerging trends in international higher education

Transnational, or cross-border, education is attracting increasing interest, as universities extend their reach across borders to open up huge new markets. Based on analysis of case students of transnational partnerships, this paper argues that the current definition of transnational education, namely that the degree-awarding university is in a different country from the students being educated, fails to do justice to the multidimensional nature of contemporary transnational partnerships. It argues that the location of the degree-awarding body is, increasingly, of peripheral interest. Of much greater interest is the multinational nature of transnational providers’ stakeholders – the owners, managers, staff, students and regulatory and accrediting bodies. It concludes that it is time to retitle the leading edge in the internationalisati on of higher education as 'multinational education'

What are the consequences of global banking for the international transmission of shocks? A quantitative analysis

The global financial crisis of 2008 was followed by a wave of regulatory reforms that affected large banks, especially those with a global presence. These reforms were reactive to the crisis. In this paper we propose a structural model of global banking that can be used proactively to perform counterfactual analysis on the effects of alternative regulatory policies. The structure of the model mimics the US regulatory framework and highlights the organizational choices that banks face when entering a foreign market: branching versus subsidiarization. When calibrated to match moments from a sample of European banks, the model is able to replicate the response of the US banking sector to the European sovereign debt crisis. Our counterfactual analysis suggests that pervasive subsidiarization, higher capital requirements, or ad hoc monetary policy interventions would have mitigated the effects of the crisis on US lending.https://www.nber.org/papers/w25203Published versio

Globalisation of HR at Function Level: Exploring the Issues Through International Recruitment, Selection and Assessment Processes

Much of the debate around convergence-divergence is based around comparative analysis of HR systems. However, we need now to combine these insights with work in the field of IHRM on firm-level motivations to optimise, standardise and export HR models abroad. A series of the changes are being wrought on a range of IHRM functions – recruitment, global staffing, management development and careers, and rewards - by the process of globalisation highlighting the difference between globally standardised, optimised or localised HR processes. This paper reports on a study of firm-level developments in international recruitment, selection and assessment, drawing upon an analysis of four case studies each conducted in a different context. Organisations are building IHRM functions that are shifting from the management of expatriation towards supplementary services to the business aimed at facilitating the globalisation process, and this involves capitalising upon the fragmentation of international employees. As HR realigns itself in response to this process of within-function globalisation (building new alliances with other functions such as marketing and IS) the new activity streams that are being developed and the new roles and skills of the HR function carry important implications for the study of convergence and divergence of IHRM practice. Globalisation at firm level revolves around complexity, and this is evidenced in two ways: first, the range of theory that we have to draw upon, and the competing issues that surface depending on the level of analysis that is adopted; and second, the different picture that might emerge depending upon the level of analysis that is adopted. This paper shows that although the field of IHRM has traditionally drawn upon core theories such as the resource-based view of the firm, relational and social capital, and institutional theory, once the full range of resourcing options now open to IHRM functions are considered, it is evident that we need to incorporate both more micro theory, as well as insights from contingent fields in order to explain some of the new practices that are emerging

Health care resouce use and stroke outcome

Background and Purpose: Outcome in patients hospitalized for acute stroke varies considerably between populations. Within the framework of the GAIN International trial, a large multicenter trial of a neuroprotective agent (gavestinel, glycine antagonist), stroke outcome in relation to health care resource use has been compared in a large number of countries, allowing for differences in case mix. Methods: This substudy includes 1,422 patients in 19 countries grouped into 10 regions. Data on prognostic variables on admission to hospital, resource use, and outcome were analyzed by regression models. Results: All results were adjusted for differences in prognostic factors on admission (NIH Stroke Scale, age, comorbidity). There were threefold variations in the average number of days in hospital/institutional care (from 20 to 60 days). The proportion of patients who met with professional rehabilitation staff also varied greatly. Three-month case fatality ranged from 11% to 28%, and mean Barthel ADL score at three months varied between 64 and 73. There was no relationship between health care resource use and outcome in terms of survival and ADL function at three months. The proportion of patients living at home at three months did not show any relationship to ADL function across countries. Conclusions: There are wide variations in health care resource use between countries, unexplained by differences in case mix. Across countries, there is no obvious relationship between resource use and clinical outcome after stroke. Differences in health care traditions (treatment pathways) and social We thank the coinvestigators and research staff at the participating centers for their support. Glaxo Wellcome sponsored the GAIN International trial, supported the present analyses and reviewed the final draft of the article

Fuzzy Transfer Pricing World: On the Analysis of Transfer Pricing with Fuzzy Logic Techniques

The arm’s length analysis of international transfer prices of multinational firms lacks sound methodological approach of the so-called function and risk analysis. In practice, such analyses are descriptive. Derived from Zadeh’s mathematical theory of fuzzy sets, this paper investigates a quantitative approach to identify the function and risk pattern of related parties of multinational companies. We illustrate our fuzzy logic approach with a simple case.