Technological innovation and emerging economy multinationals: the product cycle model revisited

This paper challenges the continuing validity of three distinct propositions of the product cycle model of Vernon (1966, 1979) or its extension to Third World Multinationals by Wells (1983, 1986). This is in light of recent developments in the role of rapidly evolving technological capabilities in the emergence and evolution of MNCs from emerging economies (EMNCs). The model states that EMNCs have a narrow scope for innovation confined to imitating and adapting the innovation of the technologically leading companies as standardisation proceeds in the product life cycle. It also proposes that innovations are almost always located in the home country of national firms. Furthermore, firms exploit through international operations their unique home country-derived technological advantages. In challenging these product cycle propositions, the paper builds the case for the increasing relevance of the concepts of localised technological change and technological accumulation in explaining the rapidly evolving technological capabilities of EMNCs

The determinants of the outward foreign direct investment of China and India: Whither the home country?

The current study examines the relationships between several home country-specific macroeconomic factors and the level of the outward FDI of China and India using multiple time-series data from 1982 to 2006 and from 1980 to 2006, respectively. With the use of a vector autoregressive model assessing the causal relationships of the endogenous variables, the empirical research proves that Chinese national characteristics associated with income per capita, openness of the economy to international trade, interest rate, human capital, technological capability, exchange rate and exchange rate volatility do not Granger cause the level of outward FDI of China. By contrast, the national technological capability of India Granger causes their level of outward FDI. The level of outward FDI of China does not Granger cause any of the home country-specific macroeconomic factors considered, while the level of outward FDI of India Granger causes their national interest rate.outward FDI, home country, FDI determinants, China, India, MNCs, VAR model, foreign direct investment, multinational corporations

The determinants of the outward foreign direct investment of China and India: whither the home country?

The current study examines the relationships between several home country-specific macroeconomic factors and the level of the outward FDI of China and India using multiple time-series data from 1982 to 2006 and from 1980 to 2006, respectively. With the use of a vector autoregressive model assessing the causal relationships of the endogenous variables, the empirical research proves that Chinese national characteristics associated with income per capita, openness of the economy to international trade, interest rate, human capital, technological capability, exchange rate and exchange rate volatility do not Granger cause the level of outward FDI of China. By contrast, the national technological capability of India Granger causes their level of outward FDI. The level of outward FDI of China does not Granger cause any of the home country-specific macroeconomic factors considered, while the level of outward FDI of India Granger causes their national interest rate

Examining strategy diversity and interdependence in the MNC's subsidiaries and their functional activities

The world is witnessing profound change. The economic and geopolitical dominance of the West is being increasingly challenged by the rapid emergence of several developing countries, most conspicuously Brazil, Russia, India and China. The West is also struggling with a financial crisis and the near impotence of traditional policy tools to rekindle growth. How should firms respond? How must International Business scholars change their thinking to both reflect and explain these epochal changes? What advice can they give hard-pressed governments? This volume contains papers which grapple with this challenging agenda. They consider three key themes: How can better understanding of institutions and culture help give analytical grip? How do and should firms adjust their strategies to cope with processes which operate at a range of spatial scales from the very local to the global? How best do firms place themselves both in physical location and within often complex global networks

Plan de negocio para la implementaci?n de una tienda virtual de productos de limpieza y accesorios para el cuidado de beb?s en la ciudad de Lima Metropolitana

El presente plan de negocio para la implementaci?n de una tienda virtual de productos de limpieza y accesorios para el cuidado de beb?s en la ciudad de Lima metropolitana se basa en una idea de negocio centrada en ofrecer una experiencia c?moda, sencilla, r?pida y eficiente para la adquisici?n de estos productos. Ahorra tiempo con Baby2Go y recon?ctate contigo misma. Lo que se propone es implementar una tienda virtual en la que se ofrecer? un servicio de suscripci?n para la adquisici?n de pa?ales y toallitas h?medas (productos de mayor frecuencia de uso) y adicional a la suscripci?n se podr? acceder a un portafolio de productos ?de menor rotaci?n- para la limpieza y accesorios para el cuidado del beb?. El desarrollo de la tienda virtual, llamada Baby2Go, donde se ofrecer? la gama de productos antes mencionada y a la cual se puede acceder a trav?s de una web responsive, nos permite manejar un mejor posicionamiento dado que dichas plataformas online permiten que nos mantengamos actualizados y accesibles a las necesidades de nuestros clientes innovando y actualizando los servicios que se ofrecer?n. Finalmente se concluye que el plan de negocio es financieramente viable, rentabilizando la inversi?n realizada por los accionistas

Combining in vitro and in ovo assays to screen for anti-cancer and anti-angiogenic effects of the leaf extracts of Mallotus cumingii Müll.Arg. (Euphorbiaceae)

Cancer treatment is often challenging and various interventions may have detrimental effects. Due to this, the development of less harmful alternatives such as herbal medicine is essential. The present study aims to determine the leaf phytoconstituents present and the bioactivities of Mallotus cumingii Müll.Arg against cancer cells through the utilization of MTT assay and anti-angiogenesis through CAM assay. The leaf extracts obtained three fractions namely, methanolic crude (MCME) extracts, hexane extracts (MCHE), and ethyl acetate extracts (MCEA), and was tested on HCT-116 for in vitro cytotoxicity, and blood vessel density and branching through in ovo CAM assay. Phytochemical analysis showed that the M. cumingii fractions contain phenolic compounds, terpenoids, cardiac glycosides, flavonoids, and saponins. For in vitro set-up, MCME of M. cumingii were separated into MCHE and MCEA partitions and were tested against HCT-116 and obtained an IC50 value of < 30 μg/mL, which is deemed active in cytotoxicity. For in ovo set-up, two concentrations of each extract were applied to the duck eggs. Blood vessel density and number of branching points were measured through the ImageJ analysis. All extracts exhibited antiangiogenic activity, either by decreasing blood vessel density or the number of branching points. Overall, the study demonstrates the potential of M. cumingii as a source of therapeutic agents

From a Theory to a Paradigm: Examining the Eclectic Paradigm as a Framework in International Economics

Over the course of a quarter of a century, the eclectic paradigm has derived its strength from being a general framework of analysis that explains the level and pattern of foreign value-added activities of firms, and/or of countries, and allows for the co-existence of complementary and alternative theories in the discipline of international economics in a logically consistent manner without being inextricably wedded to any one particular approach. The current study aims to support such broad theoretical appeal of the paradigm by refining its theoretical interpretations of the concepts of ownership advantages and internalisation. To support its view that asset ownership advantages are both competitive advantages and monopolistic advantages, the theoretical interpretation of asset ownership advantages in the paradigm needs to be broadened from a narrow emphasis on Bain-type monopolistic advantages which enable firms to erect barriers to entry to new competition and exercise monopoly power in final product markets. It must also accommodate the theoretical perception of asset ownership advantages as part of the rivalrous behaviour or competitive process between firms consistent with the approach of Cantillon and the classical economists starting with Adam Smith, the Austrian economists such as Schumpeter and Hayek, as well as Penrose. The eclectic paradigm must also effectively address the important distinction between 'internalisation of ownership advantages or intermediate products' and the 'internalisation of the markets for ownership advantages or intermediate products' within the context of endogenous structural market imperfections in final products and exogenous transactional market imperfections in intermediate products. In clearly distinguishing between the alternative interpretations of the concepts of ownership advantages and internalisation, the paradigm could more effectively synthesise alternative theories of the firm and the multinational corporation in one cogent framework of economic analysis.Eclectic Paradigm, Theory Of International Production, Theory Of The Multinational Enterprise,

Home country macroeconomic factors and outward FDI of China and India

The current study examines the relationships between a few home country-specific macroeconomic factors and outward FDI flows of China and India using multiple time-series data from 1982 to 2006, and from 1980 to 2006 respectively. The focus is on the examination of Granger causal relationships through exogeneity analysis as well as the assessment of the short-term dynamic relationships between outward FDI flows and other system variables using vector autoregressive modelling. The research concludes that although China and India share similar inferences about the Granger causal relationships concerning outward FDI flows, the determination of the endogenous structure and dynamics of the multiple time series differ in the two countries