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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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Fluorescent optical fibre chemosensor for the detection of mercury
This work aims to develop a stable, compact and portable fibre optic sensing system which is capable of real time detection of the mercury ion (II), Hg2+. A novel fluorescent polymeric material for Hg2+ detection, based on a coumarin derivative (acting as the fluorophore) and an azathia crown ether moiety (acting as the mercury ion receptor), has been designed and synthesized. The material was covalently attached to the distal end of an optical fibre and exhibited a significant increase in fluorescence intensity in response to Hg2+ in the μM concentration range via a photoinduced electron transfer (PET) mechanism. The sensor has also demonstrated a high selectivity for Hg2+ over other metal ions. A washing protocol was identified for sensor regeneration, allowing the probe to be re-used. The approach developed in this work can also be used for the preparation of sensors for other heavy metals
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