Suchergebnisse

1 Summary -- 2 Background and Literature Review -- 2.1 The Availability Doctrine -- 2.2 The Early Theory -- 2.3 Information-Based Theories -- 2.4 Summary of Credit Rationing Theory -- 3 A Theory of Credit Rationing -- 3.1 A Model of Bank Operation and Loan Supply -- 3.2 A Model of Borrower Behavior -- 3.3 Equilibrium in the Loan Market -- 3.4 The Role of Collateral in a Loan Contract -- 3.5 Screening as a Signal -- 3.6 Summary of the Theory of Credit Rationing -- 4 Customer Relations -- 4.1 Background on Customer Relations Models -- 4.2 A Multi-Period Model -- 4.3 A Multi-Period Model with Changing Information -- 4.4 Summary of Customer Relations -- 5 Conclusions and Implications -- 5.1 Rationing in a General Equilibrium Framework -- 5.2 Regulatory Implications -- 5.3 Monetary Policy Implications -- 5.4 Summary -- References.

This chapter reviews the key obstacles to understanding the effects of populism on international business (IB) by focusing on one particular and well-studied facet of IB, firm market entry strategies. While populism has already had and potentially can have future serious repercussions for macroeconomic stability, talent sourcing, and value chain integration, a much more immediate effect of the current strain of anti-globalization populism can be to alter the incentives that a multinational enterprise (MNE) faces in its internationalization approaches and in the decision on where to invest. In practical terms, populist political environments may lead to outright restrictions on some modes of entry but are more likely to incentivize firms top utilize "safer" modes of market entry, which includes outright delays in foreign investment. The constrained space that populism may offer for entry modes may also ratchet up transaction costs to a point that firms will need to re-think their internationalization – not necessarily the strategy, but the planned location for foreign direct investment. In this sense, populists may get what they want, with a reduction of foreign business, and hence foreign influence, within their borders.

The world faces a new political reality in the post-global financial crisis landscape, namely, the ascendance of populism and the breakdown of standard liberal democratic approaches to economic policymaking. The ability of populist leaders and parties to tap into disaffection with globalization, multinational businesses, and macroeconomic policy have manifest itself as a "populist moment" in many developed and developing countries around the world. This chapter introduces the effects of this populist moment on business in the future, with a focus on three specific areas: (1) how populism creates uncertainty on macroeconomic policies, affecting firm investment and financing decisions; (2) how the effects of populism on political institutions change the abilities which firms need to cultivate; and (3) how populist policies affect value chains, sourcing, and talent acquisition. The main conclusion of this analysis is that the political forces underpinning populism require firms to devote resources to new abilities and abilities unlike those used before, while at the same time seeing productive investments reduced in an environment of uncertainty. The watchword for business globally will be the flexibility to deal with an increasingly complex and uncertain world.

Recent developments are challenging the traditional separation between advanced and emerging economies as host of knowledge and production-intensive activities, respectively. Authors assess whether the co-location of R & D and manufacturing is critical for development and innovation.

This volume concentrates on the substantive gaps in the IB/IM field and addresses whether these gaps are resolvable with our current theoretical and methodological toolkit. This entails three specific queries about the past and present: Have our theories advanced some combination of explanation and prediction? Have our methods proven to be effective in providing rigorous, robust and consistent evidence with respect to the explanatory and predictive validity of our theories? Have we studied the right phenomena in the right way?