Behavioural determinants of Foreign Direct Investment

The paper presents a behavioural economics approach to foreign direct investment. Starting from the behavioural finance literature, it uses content analysis based on interviews and questionnaires covering 12% of the Portuguese firms with investments abroad. The study presents evidence of several behavioural rules (e.g., herding, cascading, anchoring, overconfidence, mental accounting) in firms’ location decisions that originate a new set of determinants of FDI flows and complement the neo classical paradigm. Moreover, it confirms the Heiner model (1983, 1985, 1989) by showing that the higher is the uncertainty faced by decision makers the more frequent is the use of behavioural rules. The central role of uncertainty helps explaining why FDI flows occur more frequently among developed countries.Behavioural, Foreign Direct Investment, Uncertainty

The standard neo-classical view on tax competition. A diagrammatic survey and some deductions for small open economies

This paper presents a diagrammatic survey of the standard neo-classical theory of tax competition for foreign direct investment and tax coordination between countries. It has four aims: to give a detailed view of the main theoretical and empirical results; to extract from it some general deductions for small and less developed open economies; to discuss different angles to improve the existing literature; and to put these in the context of fiscal policy in the European Union. It argues that eventual benefits brought by corporate tax harmonisation in the EU are not sufficient to compensate the risk of doing harm to small and relatively poor economies. Further research on equity issues is therefore needed before proceeding to harmonisation.Foreign Direct Investment; Tax competition; Tax coordination; Small countries

BEHAVIOURAL DETERMINANTS OF FOREIGN DIRECT INVESTMENT

The paper presents a behavioural economics approach to foreign direct investment. Starting from behavioural finance theory, it uses content analysis from interviews made to Portuguese managers with investments abroad. The study presents evidence of herding, anchoring, overconfidence, mental accounting and other behaviour rules in firms’ location decisions that originate a set of determinants of FDI flows and complement the neoclassical paradigm. Moreover, it confirms the Heiner model (1983, 1985, 1989) by showing that the higher the uncertainty faced by decision makers the more frequent will be the use of behavioural rules. The central role of uncertainty helps explain why FDI flows occur more frequently among developed countries.Foreign Direct Investment, Behavioural economics, Uncertainty.

The Ease of Doing Business Index as a tool for Investment location decisions

The Ease of Doing Business Index (EDBI) uses 41 variables to compare the business environment of different countries. It is widely used by policy makers, researchers and multinational companies. This paper aims to assess EDBI’s consistency and validity in representing the business environment by using factor analysis. It is found that the EDBI presents a limited consistency and descriptive power of a country’s business environment. The consequence of these findings is that multinational firms should handle carefully the EDBI in their investment decisions.Location Decisions, Factor Analysis, Cross-Border Investments, Institutional Environment

Rethinking jam sessions: jazz, literature, and the musicians' discourse

Paper presented at Leeds International Jazz Education Conference, Thursday 21 & Friday 22 March 2013This paper examines some of the most relevant works on the jam session, focusing on how this performative practice has been approached in jazz literature. Starting from bibliographical research conducted at the Institute of Jazz Studies, Rutgers University, and fieldwork carried out between 2004 and 2005 in jazz clubs in Manhattan, I analyze to what extent these works reflect poor and decontextualized perspectives on a performative practice that is crucial for the development of the creative process, learning and construction of professional musicians’ networks. The few existing studies on the jam session, although providing substantial contribution for raising some important issues, are insufficient for obtaining considerable information about this practice in its musical, social and cultural settings, namely in terms of its functioning and role in the context of the jazz scene . The musicians’ discourse is often neglected in most works on this topic.N/

Perpetuating the music

This book consists of a set of interviews about jazz jam sessions. It results from fieldwork (Burgess 1984) carried out between 2003 and 2005 in Manhattan, within the scope of the doctoral project in Musicology (Pinheiro 2008 and 2012). The testimonies presented emerge originally from semi-structured ethnographic interviews (Spradley 1979) with jazz musicians and a club manager, having been complemented with observations made in five performance spaces located in three different Manhattan neighborhoods: Harlem (Lenox Lounge and St. Nick's Pub) Upper West Side (Cleopatra's Needle and Smoke) and Greenwich Village (Small's). With the publication of this book, I intend to highlight the perspectives of the musicians interviewed, seeking to contribute, from a “inside” view of the jazz scene (or emic), to further study the implications of this performative practice on the career of jazz musicians, namely in New York. The interviews took place in the U.S. and in Portugal with renowned musicians from the New York jazz scene, as well as with other regulars of jam sessions of various generations and races. Bearing in mind that the reality of jazz in New York is not limited only to the elite of famous musicians, but also shaped by the performance and relationships between hundreds of unknown musicians from the general public, I was concerned not only with interviewing musicians established in the jazz scene, but also others for whom the jam session represents an important performative practice. However, for this book I selected those made with established musicians.info:eu-repo/semantics/publishedVersio

Jam sessions in Manhattan: scene, ritual and race

This paper addresses the relations between jazz jam sessions in Manhattan and the concepts of Scene, Ritual and Race. These issues emerged during research that, from an ethnomusicological perspective, focused on the role of jam sessions in Manhattan as a privileged context for learning the performative styles of jazz, the development of the creative process, the construction of professional networks and the establishment of the status of musicians. Starting from the analysis of five venues of jazz performance in Manhattan, New York, I demonstrate the importance of participating in jam sessions in the professional careers of jazz musicians by examining their relationship with this performative occasion.info:eu-repo/semantics/publishedVersio

Exploring jam sessions in New York

Abstract - This paper addresses the relationship between jazz jam sessions in Manhattan, and the concepts of Scene, Ritual and Race. These issues emerged during research that, from an ethnomusicological perspective, focused on the role of jam sessions in Manhattan as a privileged context for the following: i) learning performative styles of jazz, ii) developing the creative process, iii) constructing professional networks, iv) establishing of the status of musicians. Studying and analyzing the jam sessions at five jazz performance venues in New York, I demonstrate the vital importance of participating in jam sessions by examining their relationship with this performative occasion (Pinheiro 2008).info:eu-repo/semantics/publishedVersio

Exploring Jam Sessions in New York

This paper addresses the relationship between jazz jam sessions in Manhattan, and the concepts of Scene, Ritual and Race. These issues emerged during research that, from an ethnomusicological perspective, focused on the role of jam sessions in Manhattan as a privileged context for the following: i) learning performative styles of jazz, ii) developing the creative process, iii) constructing professional networks, iv) establishing of the status of musicians. Studying and analysing the jam sessions at five jazz performance venues in New York, I demonstrate the vital importance of participating in jam sessions by examining their relationship with this performative occasion (Pinheiro 2008)

FDI and institutional reform in Portugal

This article analyses the effects of several geographic, economic and institutional factors on bilateral inward FDI in Europe. Moreover, it assesses the required reform effort, and the expected benefits, for Portugal to converge with the EU in the institutional variables that are relevant to attract investment. We conclude that good institutions favouring economic freedom and the ease of doing business, and geography, market size and labor costs, affect bilateral inward FDI. Political risk does not lead to significant differences in FDI across the EU. The results are robust to different methods – principal component analysis, factor-based scores and by considering several institutional indicators successively. We also find that most promising reforms arise in the financial system, corruption, property rights, and in some business regulations associated with starting a business. Increasing labor market flexibility to the EU level has also a large impact on inward FDI, but this reform comes at a comparatively higher effort.FDI, Institutional reform, Institutions, Portugal, EU