293 research outputs found
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Export intensity of foreign subsidiaries of multinational enterprises: the role of trade finance availability
We examine the relationship between the role of trade finance availability and the export intensity of foreign subsidiaries of multinational enterprises (MNEs). In developing our hypotheses, we draw upon insights derived from “new” internalisation theory (international business literature) and international trade finance (international economics literature). We empirically test these hypotheses using survey data compiled from subsidiary managers in six ASEAN countries, supplemented with host-country level data. We conceptualise, empirically test, and establish that the subsidiary-level capability in combining and utilising internal and external debts is an important subsidiary-specific advantage to support export intensity. We find that subsidiaries employ intra-firm loans from MNE internal capital markets and, to some extent, bank loans from external financial institutions to boost their export intensity. Subsidiaries may have concerns about foreign exchange risks, but the use of appropriate foreign exchange risk management is positively associated with export intensity. We discuss the implications of our findings for theory and practice
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Local responsiveness strategy of foreign subsidiaries of Chinese multinationals: the impacts of relational-assets, market-seeking FDI, and host country institutional environments
We build upon the theoretical framework of firm-specific advantages (FSAs) and country-specific advantages (CSAs) to examine the determinants of the local responsiveness strategy of foreign subsidiaries of Chinese multinational enterprises (MNEs). Specifically, we focus on relational assets (R-assets is seen as a unique type of Chinese MNEs’ FSA), the market-seeking foreign direct investment (FDI) and host country institutional environments as drivers of the local responsiveness strategy. We empirically test our hypotheses using a survey data of the foreign subsidiaries of Chinese firms together with other secondary data sources. We find that both Chinese MNEs' R-assets and the market-seeking oriented FDI are positively related to subsidiaries' local responsiveness strategy in accommodating local customer needs, government policies, market conditions, and competitive intensity. Moreover, the impact of R-assets in motivating the local responsiveness strategy is stronger in a host country with a weak and underdeveloped institutional environment. While the evidence confirms the existence of the R-assets in influencing subsidiary level strategy, it also casts doubt on such relations-based firm resources in advanced host countries with highly developed institutions
A novel approach to security enhancement of chaotic DSSS systems
In this paper, we propose a novel approach to the enhancement of physical layer security for chaotic direct-sequence spread-spectrum (DSSS) communication systems. The main idea behind our proposal is to vary the symbol period according to the behavior of the chaotic spreading sequence. As a result, the symbol period and the spreading sequence vary chaotically at the same time. This simultaneous variation aims at protecting DSSS-based communication systems from the blind estimation attacks in the detection of the symbol period. Discrete-time models for spreading and despreading schemes are presented and analyzed. Multiple access performance of the proposed
technique in the presence of additional white Gaussian noise (AWGN) is determined by computer simulations. The increase in security at the physical layer is also evaluated by numerical results. Obtained results show that our proposed technique can protect the system against attacks based on the detection of the symbol period, even if the
intruder has full information on the used chaotic sequence.Peer ReviewedPostprint (author's final draft
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Subsidiary strategy of emerging market multinationals: a home country institutional perspective
We examine the effects of home country institutional factors, namely, home country government support, domestic institutional weaknesses, and state ownership on the subsidiary-level strategy of global integration (I) and local responsiveness (R) of emerging market multinational enterprises (EMNEs). We draw upon the home country institution-based view and the I/R framework to develop our theoretical model. We empirically test our hypotheses using an original new survey data collected from Chinese multinational subsidiary managers supplemented with parent-level and country-level data. We find that home country government support and domestic institutional weaknesses have significant and negative effects on global integration strategy of Chinese multinational subsidiaries. On the other hand, domestic institutional weaknesses push foreign subsidiaries to pursue local responsiveness strategy. Nevertheless, those with greater degree of state ownership in their parent firms are neither willing to disintegrate from their parent firms nor motivated to pursue local responsiveness strategy in order to deal with home country institutional deficiencies and develop new sources of competitiveness in foreign markets. Our findings have advanced the literature on subsidiary strategy in the context of EMNEs, and provide important implications for subsidiary managers and policy makers
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Intangible assets of MNE foreign subsidiaries: the role of internal financial resources and host country institution
We examine key factors which affect intangible asset holdings of foreign subsidiaries of multinational enterprises (MNEs). We develop our hypotheses by drawing upon the pecking order theory in the finance literature and the institution theory. We theorise that MNE foreign subsidiaries combine and utilize their cash holdings (finance-based firm-specific advantages - FSAs) with host country economic freedom (host country-specific advantages - CSAs) in their holdings of intangible assets which are internally created and/or purchased. We empirically test our hypotheses using a new original dataset of European subsidiaries of U.S. MNEs. We find that cash holdings and host country economic freedom share a significant and positive relationship with intangible asset holdings. We discuss the implications of our findings for theory and practice
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Intellectual structure of international new venture research: a bibliometric analysis and suggestions for a future research agenda
We examine the intellectual structure of the international new venture (INV) literature using bibliometric citation and co-citation analysis. We aim to identify the most influential papers/authors, publication outlets, and key research topics. We focus on the top 100 most-cited papers in this field published between 1994 and 2015. In the post-hoc reading, we supplement our main bibliometric techniques with the qualitative content analysis method to shed light on a number of theoretical and empirical issues. We find that the literature has grown significantly in the past two decades. However, the main factors that hinder the field are the diversity of applicable theoretical perspectives and the inconsistencies between theoretical concepts and measurements of variables in empirics. We outline a detailed future research agenda to address these inconsistencies and recommend using new lenses from international business to examine the INV phenomenon
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Understanding the interaction of motivation and opportunity for tax planning inside US multinationals: a qualitative study
We explore the internal workings of tax planning within US multinational enterprises (MNEs) using a qualitative research method. We conduct a series of interviews with senior tax executives, supplemented with other public information. We find that US MNEs adopt a heterogenous range of approaches driven by the motivations as well as the opportunities to reduce their tax bill legally. We develop a new theoretical framework that analyses the interactions of motivations and opportunities in MNEs’ tax planning strategy. We generate four typologies of corporate tax payers. Our study provides new insights detailing why and how companies plan their tax
Application of AHP algorithm on power distribution of load shedding in island microgrid
This paper proposes a method of load shedding in a microgrid system operated in an Island Mode, which is disconnected with the main power grid and balanced loss of the electrical power. This proposed method calculates the minimum value of the shed power with reference to renewable energy sources such as wind power generator, solar energy and the ability to control the frequency of the generator to restore the frequency to the allowable range and reduce the amount of load that needs to be shed. Computing the load importance factor (LIF) using AHP algorithm supports to determine the order of which load to be shed. The damaged outcome of load shedding, thus, will be noticeably reduced. The experimental results of this proposed method is demonstrated by simulating on IEEE 16-Bus microgrid system with six power sources
VLSP Shared Task: Named Entity Recognition
Named entities (NE) are phrases that contain the names of persons, organizations, locations, times and quantities, monetary values, percentages, etc. Named Entity Recognition (NER) is the task of recognizing named entities in documents. NER is an important subtask of Information Extraction, which has attracted researchers all over the world since 1990s. For Vietnamese language, although there exists some research projects and publications on NER task before 2016, no systematic comparison of the performance of NER systems has been done. In 2016, the organizing committee of the VLSP workshop decided to launch the first NER shared task, in order to get an objective evaluation of Vietnamese NER systems and to promote the development of high quality systems. As a result, the first dataset with morpho-syntactic and NE annotations has been released for benchmarking NER systems. At VLSP 2018, the NER shared task has been organized for the second time, providing a bigger dataset containing texts from various domains, but without morpho-syntactic annotation. These resources are available for research purpose via the VLSP website vlsp.org.vn/resources. In this paper, we describe the datasets as well as the evaluation results obtained from these two campaigns
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