Outward Foreign Direct Investment (OFDI) is the cross-border capital flow with the objective of the long-term association having at least a ten percent stake in the equity of the host country firm. In the case of new investment, the total equity is OFDI. This research aims to analyze OFDI in the context of China. The lasting interest is considered 10% equity, thereby saying that if the cross-border investment is at least 10% of the equity share capital, the investment would be considered FDI; if below 10%, it is considered to be a Portfolio Investment. We have applied a more emic approach and discussed the determinants of multinational companies (MNCs) from China. Using an exploratory and qualitative approach, case studies of Chinese MNCs are discussed. Secondary data is utilized to obtain a closer insight into the determinants of OFDI from Chinese MNCs. At the end of this paper, suggestions for OFDI policymakers and study limitations are discussed. This research makes recommendations to the Chinese government regarding OFDI in connection with their economic development.

This article explores the territorial extension of the EU environmental law and how the EU uses its market powers to become global regulatory initiatives in the context of environmental protection. The legitimacy and practical influence of the global reach of the EU environmental law is first to be discussed. Taiwan, as a significant trade partner to the EU and also a critical exporting-oriented industrial entity in the world, has been heavily influenced by the EU environmental law development for the sake of gaining market access to the EU. In this regard, this article provides an overview of the EU environmental law. This article will provide a case study on the territorial effects of the EU environmental law on Taiwan and the responsive actions taken by the government and industries in Taiwan. This article recognizes the importance of the EU to achieve legitimate global values in the context of global environmental protection.

This study empirically analyzes the effects of exploitation and exploration on the innovation performance of emerging companies. We assumed that R&D expenditures or outsourcing production are positively associated with the level of innovation of the firm. The study conducted an analysis based on World Bank data collected from 2008 to 2009 for 1,555 companies in 11 emerging countries. As a result, firms in many emerging economies with insufficient resources and in low-tech manufacturing industries have shown that exploratory innovation activities, represented by investments in R&D expenditure, are still critical to achieving superior performance in new product production. On the other hand, exploitative activities through outsourcing did not have a significant impact on firms’ innovation performance. Through the results of this analysis, this study suggests that exploratory activities are meaningful in emerging countries to increase their innovation performance.

신흥시장 다국적 기업의 국제 인수합병에 대한 참여와 관심이 증대되는 가운데, 본 연구는 2000년부터 2014년까지의 기간 동안 중국과 인도의 다국적 기업들이 완료한 433건의 인수합병 거래를 대상으로 상대적 크기, 문화적 거리, 제도적 거리가 인수합병 성과에 미치는 영향을 비교 분석하였다. 실증분석 결과, 상대적 크기는 인도 기업의 인수합병 성과에 U자형의 비선형적 영향을 미쳤으나, 문화적 거리와 제도적 거리는 인도 기업의 성과에 영향을 미치지 않았다. 반면, 중국 기업 인수 합병 성과의 경우, 상대적 크기에 통계적으로 유의한 영향을 받지 않았으나, 문화적 거리와 제도적 거리에 각각 음(-)의 영향과 양(+)의 영향을 받은 것으로 나타났다.

선행연구에 따르면, 기업의 국제화를 위한 중요한 요인은 입지 전략 요인이다. 본 논문의 목적은 다중 사례 연구를 통해 신흥시장 다국적 기업이 선진국으로 국제화를 고려할 때 사용하는 입지 전략 패턴을 조사하는 것이다. 이를 위해 다중 사례 연구 결과, 입지 결정 요인에서 신흥시장 다국적 기업이 선진국 다국적 기업과 비교할 때 다양한 지역 기반 투자 동기에 주로 집중하는 경향이 있음을 확인하였다. 즉, 신흥시장 다국적 기업이 선진국으로 국제화를 진행할 때 입지 고려 과정 중 전략적 자산 추구 동기에 의해 좌우되는 것으로 보인다. 또한, 기존 외국 기업의 투자와 지리적 통합을 적절히 형성한 지역 특성은 신흥시장 다국적 기업이 해외 진출을 고려할 때 주요하게 영향을 받는 요소이다. 이러한 연구 결과를 바탕으로 본 논문에서는 신흥시장 다국적 기업이 국제화 과정에서 고유한 입지 기반 우위를 찾기 위한 가이드라인을 제시할 수 있는 입지 기반 전략 개발의 이론적 체계를 위한 시사점을 제공하였다.

본 연구는 개발도상국 내 기업들의 정부와의 관계가 기업성과에 미치는 영향과 둘 간의 관계에 있어 국가의 제도화 수준의 조절효과를 살펴보았다. 개발도상국의 제도 수준은 선진국의 제도 수준에 비교해보았을 때 덜 체계화 되어 있으며 미흡한 특징을 가진다. 따라서 기업은 제도적 상황에 맞는 독특한 자원의 보유를 필요로 하는데 본 연구에서는 그것을 기업-정부 관계에서 비롯하는 정치적 자원이라 주장한다. 본 연구는 제도주의 이론과 자원기반관점을 결합하여 이와 같은 논의를 진행하였다. 본 연구에서 고려한 기업-정부 관계는 구체적으로 실질적 관계와 관계를 위한 노력이라는 두 가지로 구분되는데, 전자에는 기업이 정부와 계약을 체결하였는지 여부와 정부로부터 재정적 지원을 받았는지 여부가 포함되고, 후자를 대표하는 변수로는 최고경영진이 정부 규제로부터 부과된 요구조건들을 다루는 시간의 비중이 고려되었다. 본 연구는 개발도상국 내 24개 국가, 10,629개 기업을 대상으로 가설을 검증하였다. 연구결과 정부와의 실질적 관계인 계약체결과 재정적 지원은 성과에 긍정적인 영향을 준 반면, 최고경영진이 정부규제에 할애하는 시간은 기업성과와 역U자형 관계를 나타내었다. 또한 국가의 제도화 수준이 낮은 경우, 정부와의 계약체결여부와 최고경영진이 정부규제에 쏟는 시간할애가 기업성과에 미치는 긍정적인 효과가 강화되었다. 이 결과는 기업-정부관계라는 정치적 자원이 제도화 수준이 미약한 국가에서 더 큰 가치를 가진다는 점을 시사한다.

The purpose of this study is to consider what influence creative content industry imports in emerging countries have on the formation of images of the country of origin. Japanese animation and games, as well as Korean pop music and movies are highly welcomed in many countries (Douglas 2002), especially in the emerging countries of Asia. Seeing such global successes, the Japanese government has adopted the "Cool Japan" policies promoting Japanese creative industry products, ranging from comics, fashion, music, animation and games to characters. Creative industry products, such as Hollywood movies, are also popular in many countries (Craig et al. 2005). Globalization of creative industry products has been a popular topic for many scholars in different disciplines, including cultural anthropology (e.g., Allison, 2006), sociology (e.g., Dowd and Janssen 2011), cultural studies (e.g., Lash and Lury, 2007), and cultural policy (e.g., Crane, Kawashima, and Kawasaki, 2002). However, although global marketing has been an important theme in the discipline for years (e.g., Zou and Cavusgil 2002), the globalization of creative industries has not received enough attention from marketing scholars with a few exceptions (e.g., Matsui, 2009). The reason marketing scholars have not had much interest in creative industries is that the synergy with other manufacturing or service industries has been unknown. Due to the same reason, “Cool Japan” and “Korean Boom” are not directly designed to promote emerging countries' manufactured goods/services. Has there been empirical improvement in the brand image of Japanese or Korean automobiles and digital devices in countries where Japanese animation or Korean pop music is pervasive? We used data from Hakuhodo Global Habit 2013 to verify this hypothesis. It is a series of consumer surveys conducted by Hakuhodo Inc., the second largest advertising agency in Japan. It is one of the largest global consumer survey databases conducted yearly in Japan, and includes consumer surveys from 36 major cities worldwide. In each city, approximately 800 participants are randomly selected and asked about 900 questions regarding their product purchases and preferences, product ownership, daily activity, media usage, hobbies, value systems, and demographic profile. Respondents are in the upper or middle-class segments of each country. Due to its large sample size and stable survey procedures, we consider Hakuhodo Global Habit 2013 reliable enough for academic statistical analyses. From the database, the consumers' preference ratio for four types of creative content including animation, manga, music, television dramas, and movies of foreign origins were used in ascertaining the degree to which creative industry products were received in thirteen emerging countries’ cities: Jakarta, Singapore, Seoul, Taipei, Delhi/Mumbai, Hong Kong, Kuala Lumpur, Bangkok, Yangon, Ho-chi-minh city, Manila, Beijing/Shanghai/Guangzhou, and Moscow. The originating countries are Japan and Korea. Respondents were chosen using stratified sampling by gender and age. They were asked to choose countries from which they preferred content (multiple answers allowed). They were also asked about Japan and Korea, and whether or not there was an image of either as a production area for any of 14 types of manufactured goods and services (consumer electronics, digital devices, automobiles, fashion, luxury goods, furniture, animation, tourism, sports, movies, music, food products, medical products, and cosmetics) (multiple responses). For both Japan and Korea, we analysed partial correlations between the degree of reception of four types of creative content in 13 cities and the image of the production area for 14 types of products. Also, we analysed simple correlations among the degrees to which four types of creative content were received. The following three findings were revealed from the results. The overall trends were the same for both Japan and Korea. Finding 1: Reception of animation and manga does not contribute to an improvement in the image of other manufactured products or services. A positive correlation with the reception of animation and manga was found only for the image of the production area for animation, and the correlation was, for the most part, negative concerning the image of the area in the production of the other 13 types of manufactured goods or services. Finding 2: Reception of movies, music, and television dramas contributes to improvement in the image of other manufactured products or services. The other three types of creative content correlate positively with the image of the production area for a variety of manufactured goods and services. In particular, movies had a positive correlation with images for automobiles, furniture, medical products and other types in both Japan and Korea. With regard to television dramas and music, content produced in Japan had a higher positive correlation with the images of other manufactured goods and services than that produced in Korea. Finding 3: Reception of the four types of creative content correlate highly with each other. Consumers receiving Japanese animation were significantly more prone to also receive other Japanese creative content. The same trend was also seen in the results for Korea. The following conclusions were obtained from these findings. The export of Korean movies, television dramas and pop music, which is creative content of the so-called “Korean boom,” is inferred to contribute to branding of Korean digital devices and automobiles. However, we inferred that simply exporting Japanese animation, does not contribute to the branding of Japanese manufactured goods or services. This divergence is inferred to be in the essence of the difference in the current marketing efficiency between the “Cool Japan” strategy and “Korean boom.” On the other hand, we expect that exporting Japanese animation has the influence of increasing reception of Japanese movies, television dramas and pop music, and, moreover, the receipt of Japanese movies, television dramas, and pop music can be expected to contribute to the branding of Japanese manufactured goods and services. In other words, we concluded that exports of Japanese animation indirectly have a favourable effect on marketing activities for Japanese manufactured goods and services. In practice, because of copyright issues, Japanese movies, television dramas and pop music are not able to be as actively exported as Korean movies, television dramas and pop music are. Nevertheless, the influence of Japanese movies, television dramas, and pop music per se is considered to be the same as for those produced in Korea. We inferred that to be the case because the reception of Japanese animation and manga (including pirated versions) underpins such influence. This study used a large amount of quantitative data, and empirically verified the significance in marketing “Cool Japan” and the “Korean boom.” The initial hypothesis was supportive of movies, television dramas and music, but negative for animation. However, it was suggested that although the “Korean Boom” and “Cool Japan” appear to be similar strategies, they have major structural differences.

This research analyses the challenges facing SMEs in Oman in their quest for internationalization. The study is based on the OECD Model of Internationalization put forward in the report titled “How to Foster the Internationalization of SMEs through the Pacific Alliance Integration Process” which focuses on four factors namely finance, business environment, firm capabilities and market access, which are appropriate for an emerging economy like Oman. This study used a descriptive and quantitative research design in attempting to analyze the challenges being faced by Omani SMEs in their endeavors to internationalize. The research investigates causal relationship between variables using positivist and deductive approach. Data collected from 102 respondents was analysed by Structural Equation Modeling(SEM) using AMOS. It was found that finance availability was the most significant predictor of internationalization challenges followed by market access and business environment, while firm capabilities had no impact. Thus SMEs need easier access to credit and have to develop their international business networks and their marketing capabilities in order to grow internationally. Keeping in mind the contribution made by SMEs the government has to intervene by opening up easy lines of credit to SME exporters and allowing them relaxations in customs and other duties.