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This paper examines the foreign exchange rate exposures of US companies and how they are linked to foreign macroeconomic determinants. I use US trade-weighted macroeconomic indices of foreign countries to explain the variation in foreign exchange rate exposures, measured as the sensitivities of stock returns to exchange rate returns of US non-financial companies over the period 1995 to 2017. I find strong evidence that the after-hedging exposures of potential exporters are affected by their expectations of foreign market gross domestic products, current account balances, consumer price indices, term spreads, unit labor costs as well as government expenditures.

В статье исследованы теоретические подходы к системе управления внешнеэкономической деятельностью (ВЭД) предприятий, а также определены факторы, которые прямо или косвенно влияют на динамику и эффективность системы управления внешнеэкономической деятельностью хозяйствующих субъектов., The article examines theoretical approaches to the management system of foreign economic activity of enterprises, and also identifies factors that directly or indirectly affect the dynamics and effectiveness of the management system of foreign economic activity of enterprises., Экономика и предпринимательство, Выпуск 12 (149) 2023, Pages 1288-1291

Efficient distribution has a considerable influence on the sales volume of firms, and thus affects the firms' research and development (R&D) activities. This paper analyzes the relationship between competition in the transport sector and R&D of firms using the transportation services. We consider a two-region reciprocal market in which firms invest in cost-reducing R&D and use carriers that engage in price competition to supply their products to the foreign market. We show that, corresponding to the degree of R&D spillover, a transport cost (or price) reduction due to an increase in the number of carriers can increase or decrease the firms' R&D investments. This result is consistent with the finding in previous studies that trade liberalization can hinder R&D. Because inefficient firms lead to high prices in the market, an increase in the number of carriers may reduce consumer surplus. We further discuss a case in which firms have monopsony power in transportation services and show that our main results are robust to the extension.

INTRODUCTION. The Eurasian economic union (EAEU) institutions have a huge competence delegated by the EAEU Member-States. Effective implementation of such competence, especially in foreign trade, entails relevant international activity of the EAEU institutions. In this connection the article analyses international capability of the EAEU, relevant experience of the European Union as well as actual status and perspectives of the EAEU international activity in foreign trade.MATERIALS AND METHODS. The research is based on the analysis of the EAEU legislation, recent works of relevant researchers, experience of the European Union in respect of international cooperation. Methodological instruments are analysis, synthesis, deduction, induction and analogy.RESEARCH RESULTS. Successful development of foreign trade activity of the EAEU Member-States depends on effectiveness of the EAEU international activity. The research shows that EAEU international activity in foreign trade is not as effective as it could be. This has a negative impact on foreign market accessibility for the EAEU Member-States goods. In view of the above a thorough research of appropriate EU legal base was conducted. It shows, that effectiveness of the EU in promotion of its interests on the international stage, including in the foreign trade, is based on relevant legal mechanisms, which allows to take into account both positions of the EU and its Member-States. Such experience with combination of the specific characters of Eurasian integration will help to make necessary amendments to the EAEU legal base to increase its effectiveness.DISCUSSION AND CONLUSIONS. The author makes conclusion on the necessity of amendments to the EAEU international activity legal base, with use of the researched European Union experience. In particular, the EAEU institutions need additional competence for more independence and flexibility at international level. This will improve the EAEU international activity, including conclusion of free trade agreements (regardless of concluded agreements of the EAEU, the scale of international activity of the EAEU is not comparable with the European Union’s one), create conditions for export promotion, and help to strengthen the EAEU image as independent participant of international relations.

Diplomski rad „Prilagođavanje promocije inozemnom tržištu“ govori na koji način se prilagođavaju promotivne aktivnosti, koje su specifičnosti komunikacije na koje se nailazi, koji čimbenici utječu na međunarodnu promociju i koja je uloga promotivnih poruka. Međunarodna promocija provodi se s ciljem stvaranja odnosa između proizvođača i potrošača, upoznavanja tržišta s proizvodom ili uslugom, povećanja prodaje, stvaranja ugleda i pozitivne slike o proizvodu ili poduzeću te poticanja uspjeha i rasta prodaje. Promocija u međunarodnom marketingu promatra se kroz ekonomsko, kulturno, socijalno, pravno i političko okruženje, a čimbenici koji imaju najvažniju ulogu u stvaranju marketinške komunikacije su način komuniciranja, običaji, tradicija i religija. Analizom prilagođavanja promocije na primjeru turističkih usluga prikazano je što pružatelj usluge mora učiniti kako bi bio uspješan i prepoznat na međunarodnom tržištu. Također, prikazano je kako se optimalno i učinkovito koriste mediji te oblikuju promotivne aktivnosti. Graduation thesis "Adapting promotion to the foreign market" tells how promotional activities are adjusted, what are the specifics of communication encountered, what factors influence international promotion and what is the role of promotional messages. International promotion is carried out with the aim of creating a relationship between producers and consumers, introducing the market to the product or service, increasing sales, creating a reputation and a positive image of the product or company, and encouraging success and sales growth. Promotion in international marketing is viewed through the economic, cultural, social, legal and political environment, and the factors that play the most important role in creating marketing communication are the way of communication, customs, tradition and religion. Analyzing the adaptation of promotion on the example of tourist services shows what the service provider must do in order to be successful and recognized on the international market. Also, it is shown how to optimally and efficiently use the media and shape promotional activities.

Once a firm enters a foreign market, its productivity should increase thanks to the exposure to new knowledge and experience abroad. We test this hypothesis of ‘learning-by-exporting’ by scrutinisi...

The aim of this paper is to understand the ideas of Vieira Souto on currency and exchange in Brazil during the First Republic. Historiography does not discuss the economic thougth that influenced the debate about economic policies in the period. For him, the currency was not related to the oscillations of the exchange rate, but to the variations in the transactions with the foreign market. Thus, he presents an interpretation of the Brazilian economic reality that allows him to be characterized as a precursor of developmentalism in Brazil.

This study examines the recent history and current state of a special area of Japanese-Hungarian economic relations, foreign direct investments (FDI) in Hungary. We reviewed the flow of Japanese capital into Hungary. Foreign direct capital investments can improve productivity on the one hand via technology transfer, and one the other hand, they may have further positive effects through corporate relationships, such as market access or improved financing conditions. Through these means, they strengthen economic growth. When analyzing the data on the historical development of Japanese investment, we showed that the automotive industry plays a dominant role. Based on our results, the influx of Japanese FDI into the Hungarian economy is mutually advantageous to both parties. The most important result for Hungary was economic growth and for Japan, the easier access to the EU markets. Japanese-Hungarian relations are not limited to economic cooperation, they are present in everyday life and continue to grow closer.

The traditional food of a culture in a society is continuously inherited from the old generation to the new generation. The traditional element is an in-depth understanding of the function of each material, techniques of preparation, and the practice in our daily cooking. This understanding in the form of preparation, meal preparation, tips, use of certain equipment, and raw materials are mysteries difficult to be unravelled. The Malay cultural heritage food is an integral asset among Malaysians in general and the Malay race in particular. Malay cuisine is one of the special and unique blended of many traditions from around the region. However, when Malay culture and cuisine are introduced to other countries, they faced certain hurdles and challenges. This study investigates the issues and challenges faced by Malay cuisine in the foreign market. The points in question are, 1) Why are Malay cuisine difficult to be exported to other countries 2) Why Malay cuisine is less popular than cuisines from other countries? 3) What are the factors that make foods from a country of origin can be successfully exported? These issues and challenges will be parsed and discussed based on the existing written collection. Recommendations will be made on the mechanisms that enable the success of Malay cuisine food to be commercialized abroad, as well as future research examining the success factors of traditional food exported abroad.

The study explores the nature of adaptations made on an experiential product, a TV series, that enters a foreign market, and investigates the perceptions of foreign consumers concerning the adapted experiential product in two parts. The first part content analyses the nature of adaptations based on comparisons of the contents of the original and adapted versions of the TV series, while the second part content analyses consumers' perceptions of the adapted TV series based on their social media entries. The first part reveals three broad categories of adaptations, namely contextual, cultural, and competitive. The second part indicates that the familiarity with the original TV series and the distinct genre were influential on consumers' evaluation of and satisfaction with the adapted TV series.

Existing research into retailers’ foreign market exits has uncovered a number of drivers that lead multinational retailers to divest from certain countries. While scholars have investigated these drivers in isolation from one another, combinations of drivers that affect divestment decisions simultaneously remain under-researched despite scholars having indicated their importance and having called for a detailed, more holistic analysis. In this study, using a case study approach and qualitative content analysis of a wide variety of publicly available contemporary documents from different perspectives and experts, we investigate the drivers leading to all 32 country exits of the 50 largest grocery retailers in Europe in the 5-year period between 2014 and 2018. In line with previous research, the study shows the most frequent exit drivers are a low performance of the subsidiary, a low performance of the parent company, and a strategic refocus of the parent company. However, we demonstrate that for most exits, combinations of multiple interrelated drivers at the subsidiary level, the host-country level, and the parent level have a joint influence on retailers’ decisions to exit foreign markets. We also show that exits often include both failure-related drivers and strategy-related drivers. Furthermore, using the configurational approach, we identify exemplary combinations of market exit drivers that occur frequently and propose five archetypes of such combinations that suffice to explain all market exits in the dataset. For future research, we propose extending our typology through the application of a similar approach to different contexts and to use quantitative research based on the qualitative findings to generate more generalizable results.

The types and key features of competitive strategies, the process of forming a competitive strategy of enterprises and the main ways to increase the competitiveness of enterprises in foreign markets are substantiated. The competitive positions of Ukrainian companies were studied and the importance of competitive strategies for sustainable enterprise development, high profitability and competitiveness in modern markets of goods and services was analyzed. The mechanism of improving the competitive position of Ukrainian companies in foreign markets is determined.

Diplomski rad „Prilagođavanje proizvoda inozemnom tržištu“ govori o svim odlukama s kojima se susreće proizvođač kada se odluči plasirati proizvod na strano tržište. Prije plasiranja na strano tržište proizvođač mora razmotriti situaciju i postaviti si tri pitanja na koja mora naći odgovor ako želi proširiti poslovanje, a to su: što izvoziti, kako izvoziti i gdje izvoziti. Počevši od strategija ulaska na strana tržišta, odabira proizvoda kojeg će izvoziti ili razvoja potpuno novog proizvoda do odluka o karakteristikama i elementima koje proizvod mora sadržavati, odluke su koje proizvođač mora donijeti da bi bio uspješan na stranom tržištu. Donijeti odluku o izvozu nije tako lako jer svaka zemlja ima svoje uvjete i standarde na tržištu kojih se proizvođač mora pridržavati i poštivati. Svaka zemlja također već ima i svoje proizvođače koji prodaju na svojem, domaćem tržištu te svakom novom proizvođaču, bilo da je riječ o domaćem ili stranom tržištu, koji planira ući na to tržište predstavlja prijetnju. Analizom prilagođavanja dvaju proizvoda prehrambenog proizvođača Vindije prikazano je sve ono što jedan proizvođač mora napraviti kako bi bio uspješan na stranom tržištu te kako odrediti karakteristike i elemente proizvoda s ciljem uspješnosti i stvaranja lojalnih potrošača. Graduate thesis Adaptation of the product to the foreign market talks about all the decisions that the manufacturer encounters when he decides to place on a foreign market. Before placing on a foreign market, the manufacturer must consider the situation and ask three questions that must be answered if he wants to expand his business, and the questions are what to export, how to export and where to export. From strategies for entering foreign markets, to choosing a product to export or developing a brand new product and decisions on the characteristics and elements of the product which product must contain are all decisions that a manufacturer must make to be successful in a foreign market. Making a decision on exporting products is not so easy because each country has its own market conditions and standards that the manufacturer must adhere and respect. Each country also already has its own manufacturers who sell on their own, local market, and every new manufacturer, whether local or foreign, who plans to enter that market is a threat to local manufacturers. The analysis of the adaptation of two products of the food producer Vindija shows everything that one producer must do to be successful in a foreign market and how to determine the characteristics and elements of the product in order to succeed and create loyal consumers.

Based on the existing interpretations of foreign and Ukrainian scientists, the concept of "export potential of the enterprise" is generalized on the example of Gorodnytske forestry Soe. The analysis of the most well-known methods of assessing the export potential of the enterprise, taking into account a number of indicators of its activities, including financial indicators, indicators of foreign economic activity of the enterprise and others. The methodology and expediency of its use for estimation of export potential of the forestry enterprise are substantiated. Marketing tools for capacity assessment (SWOT-analysis and SPACE-analysis) were used, on the basis of which the analysis of the export potential of Gorodnytske Forestry SOE was carried out. This analysis allows us to identify strengths and weaknesses of the enterprise, determine the availability of potential and develop scenarios for the development and improvement of the enterprise in the future. On the basis of the considered methods, assessment of export potential of Gorodnytske Forestry SOE is carried out. Based on the analysis of the results and given the importance of assessing the export potential to establish the export potential of the enterprise, ensuring the efficient use of its resources and reserves, strategies and real ways to develop the export activities of the enterprise are proposed. A practical measure to ensure the development of the export potential of Gorodnytske Forestry SOE proposed production and sale of wooden pallets abroad, as the company has a long positive experience in the production of these products, as well as sufficient production capacity to implement this proposal. The analysis of the European pallets market showed an increase in demand for these products from foreign consumers. The calculated indicators of the financial condition of the enterprise and the indicators that characterize the foreign economic activity of Gorodnytske Forestry SOE over the past three years have shown the possibility of developing export potential through the production and export of pallets. The strategies of export potential development proposed in the article will have a positive economic effect for the enterprise and will help strengthen the position of this enterprise in the foreign market of forest products. Approbation of the proposed method of assessing the export potential of the enterprise on the example of Gorodnytske Forestry SOE confirmed the possibility of its use for any enterprise, which can improve financial performance and increase its profitability and competitiveness.

The purpose of the article is to study the current state of buckwheat market in Ukraine and the world. Dynamics of buckwheat growing in 2015, 2016, 2017, 2018 and its impact on the domestic and foreign buckwheat market in Ukraine are analyzed. The research is based on the statistics of the State Statistics Committee of Ukraine. The analysis of the buckwheat origin and the area of its growing in the world is conducted. It is established that buckwheat is grown both in Eurasia and America. In Europe, Asia and America, buckwheat is gaining in popularity every year. Due to the fact that this crop is used not only for food and feed purposes, it is also a valuable medicinal plant and a good honey plant. It is proved that Ukraine has all the necessary economic, natural and agro-climatic conditions for the buckwheat growing and not only to satisfy the internal market but also to be a leader among exporters in sales of this crop and products of its processing. It is established that a significant decrease in the buckwheat-growing areas has been observed in recent years, which leads to a decrease in the gross output of the crop. This situation contributes to the rise in retail prices of buckwheat and the loss of positions in the foreign market as a leading exporter in the world.

The article analyzes the problems of small and medium-sized business of Khabarovsk Krai, in particular, the problems associated with the process of entering the foreign markets. It is concluded that the key problems of small and medium-sized business of Khabarovsk Krai are the issues of logistics and innovative development. These are the strategic and systemic problems

In recent years, globalization roles, the rapid development of communication technologies, easier access to information sources, the existence of manager's networks in international markets, and organization dynamic capabilities find out early and rapid internationalization as being international from inception or near their founding. When the studies dealing with the rapid and early internationalization process are examined, it is seen that they have carried out for manufacturing firms in particular produced high-tech products. But, especially health care business studies are rare. However, it is rare to work on businesses that provide healthcare services. In this study, Liv Hospital, which provides healthcare services and became international rapidly following its establishment, is examined as a case study. In this study, Liv Hospital, which provides healthcare services and became international in a short time following its establishment, will be examined as a case study. In conclusion, it is seen that Liv Hospital became international following its establishment, thanks to the international vision of its managers and their goals to be a leader in the foreign market. Business networks are one of the factors that facilitate early and rapid internationalization processes. Business networks of managers have also been efficient in the internationalization process of Liv Hospital. Therefore, internal and external factors that a business has an effective in early and rapid internationalization.

When corruption becomes a significant barrier to develop domestic business, do firms resort to exporting as a solution? In other words, is there a ‘shelter effect’ of exporting? We build a simple model to analyse the effects of corruption on firms’ domestic versus foreign market sales. The model predicts that when corruption increases the cost of domestic sales, large firms increase exports relative to domestic sales, whereas small firms do the opposite. Using data from the World Bank Enterprise Surveys, we provide supportive evidence to these predictions. We also find the ‘shelter effect’ to be weaker for politically connected firms.

Conventional method of honey production is widely spread in the area of western Serbia. Despite the advantages of honey production in an organic manner, beekeepers are still hesitant to take this step, regardless of the difficulties with placement of such honey on the foreign market, so their products are mainly sold on the domestic market. Besides the undeniable nutritional value, honey produced in the conventional way with proper use of agro technical measures and implementation of the wide range of products in the treatment of bee diseases, in its composition very often contain residues of hazardous chemical compounds, pesticides, antibiotics. Research on four qualitative differences of the content of certain substances between the conventional and organic honey producers has been conducted in western Serbia. The research obtained five manufacturers, out of which two were engaged in organic manner of production, while the remaining three dealt with the conventional honey production. After examining the area and the apiaries in question, interviews with honeybee producers, the sampling of honey took place. Upon performed analysis, it was concluded that one conventionally produced sample of honey was not safe for human consumption, due to presence of pesticides.

Today's economic environment is rapidly changing, forcing companies to expand internationally. Foreign market entry has now become a well-studied topic among academics. When a firm enters a foreign market, crucial strategic decisions such as international market selection and entry mode selection must be made, and members of the management team are entrusted with making these complicated judgments that will set the company's path. There have been many studies showings that developing the strong strategies for entering to the market and based on this creating powerful marketing strategies can help company to succeed in the competitive market. SWOT analysis and interviews of Lada managers are used to comprehend the strategies of the LADA company used to enter Uzbek market and to ensure reliability of the findings.

Objective: Research into firm-level exporting, has been criticised for being excessively fragmented and inconsistent. The objective of this paper is to review extant research on export performance and propose a research framework which will go beyond the currently studied relationships and variables, and therefore formulate several recommendations for future research. Research Design & Methods: In doing so, the review adopts a broader view of export performance, which accounts for the possibility of a negative development of export ventures. Findings: The paper finds that institution-based, resource-based and industry-based views have been often used to address the determinants of export performance. While there are some complex interactions between host-country institutional factors, firm-level factors, and industry-level factors, these have been studied to a lesser extent. Also, the review highlights the need for a more nuanced and fine-grained understanding of export strategy, particularly embracing modern business models and devoting more attention to foreign market partners. Implications & Recommendations: Scholars should be more sensitive to previously neglected variables which can enhance the understanding of export performance and lead to more comprehensive empirical studies. Contribution & Value Added: The paper includes a conceptual framework proposing directions for future research, whereby a broader understanding of export performance is adopted, including also the possibility of export exits.

The article discusses the problems of damage during storage, processing and use of wool fibers used in the carpet industry. The role of bacteria and microscopic fungus in fiber damage has been shown. These indicators include: the cost of raw materials and production costs for its processing, elastic properties, ease of processing, profiled cross-section, the bulk, which is achieved due to the large thickness and the method of dyeing. The main criteria for carpets of the third group, i.e. Researchers Negin and Mumford consider the indicators characterizing the average cost of one square meter, taking into account their service life, of carpets supplied for the foreign market.

Price is the most important tool of company behavior on market, whose changes are caught immediately by customers, competitors and state structures. Adequate pricing can bring profit to the company and raise its competitiveness and stability on market. Unfortunately, rather often price decisions of home exporters working on non-raw material markets are only a response to competitors’ steps and they aim at reaching tactical, momentary but not strategic goals. Companies usually try to use the same price strategies on foreign markets as they use on national market. In conditions of the global crisis, uneven introduction of isolation regime and border closing by countries, breaking supply chains, bankruptcy or closure of national companies Russian exporters face the loss of distribution channels developed earlier. On the other hand, in these conditions they get an opportunity not only to settle on developed markets nut to penetrate new overseas markets in such segments, where the work of local companies was cut or shut down. In any case home exporters should think over their price strategy on foreign market and research changes in customer preferences, in their perception of company product value. The author gives recommendations aimed at improving exporters’ pricing in conditions of 2020 crisis on the basis of analyzing customers in view of their contribution to the company profit.

Purpose This paper aims to discuss business incubation to enter foreign markets in Brazil, Russia, India and China (BRIC) countries through the lens of an “international business incubator” (IBI). International market expansion offers huge opportunities for companies to increase their revenue, but there are also challenging tasks such as the establishment of a business company and the occupation of a strategic position abroad. Practitioners consider this process as the act of incubation, but the theoretical discussion lags behind the practice-led debate. Design/methodology/approach An illustrative, and theory-led, case study is presented that describes market expansion to BRIC countries through a network-based IBI. The empirical case is an illustrative Danish company with international operations in BRIC countries both with and without an IBI. Findings International business incubation represents a process, which can be influenced through an IBI, and business networking during foreign market entry is shaped by IBI brokerage (bridging, bonding and protecting) in different phases. IBI activities that are embedded in business networking support a company’s endeavours in getting a foothold and acquiring a strategic position in BRIC markets and facilitates the market penetration. Research limitations/implications The IBI’s activities to enter foreign markets should be thoroughly managed. Further studies should be conducted with cross-case comparisons and larger samples to reflect on the propositions established. Originality/value By linking the business networking theory with the practice-led understanding of business incubation, the study explores an under-conceptualised topic for international business and entrepreneurship scholars. The paper offers an initial understanding of how brokerage interacts with incubation during the entry of new markets.

Resumo O mogno africano é uma espécie arbórea muito valorizada pela indústria, pois sua madeira de alta qualidade possui grande potencial econômico tanto para o mercado interno quanto para o mercado externo. Apesar da alta valorização, os estudos e pesquisas sobre a espécie são escassos, sendo de extrema importância aprofundar o conhecimento. O objetivo do estudo foi avaliar o efeito de diferentes temperaturas sobre a germinação e vigor de sementes de mogno africano em condição de laboratório. O delineamento experimental utilizado foi o inteiramente casualizado, em esquema fatorial 4x5, sendo 4 lotes de sementes e cinco regimes de temperatura (20, 25, 30, 35°C constantes e 20-30°C alternada), com quatro repetições de vinte e cinco sementes por tratamento. Inicialmente determinou-se o teor de água das sementes e em seguida realizou-se os seguintes testes: germinação, primeira contagem da germinação, comprimento, massa fresca e seca de plântulas. As temperaturas de 25 e 30ºC constantes são favoráveis à germinação e ao vigor das sementes de mogno africano. Temperaturas de 20 e 35ºC constante e 20-30ºC alternadas são prejudiciais ao processo germinativo, comprometendo o desempenho fisiológico das sementes. Nas temperaturas favoráveis à germinação, as sementes dos lotes 1 e 3 mostraram-se com qualidade fisiológica superior aos demais. Abstract African mahogany is a tree species highly valued by industry because its high quality wood has great economic potential both for the domestic market and for the foreign market. Despite the high valuation, the studies and research on the species are scarce, being extremely important to deepen its knowledge. The objective of this work was to evaluate the effect of different temperatures on the germination and vigor of African mahogany seeds. The experimental design was a completely randomized design, in a 4x5 factorial scheme, with four seed lots and five temperature regimes (20, 25, 30, 35°C constant and 20-30°C alternating), with four replications of twenty five seeds per treatment. Temperatures of 25 and 30°C are favorable to the germination and vigor of African mahogany seeds. Temperatures of 20 and 35ºC constant and 20-30ºC alternating are harmful to the germination process, compromising the physiological performance of the seeds. At temperatures favorable to germination, the seeds of lots 1 and 3 showed higher physiological quality than the others.

This study examines the effect of external credit on the export decision of manufacturing firms in Nigeria using the 2014 World Bank Enterprise Surveys data. The paper employs an instrumental variable (IV) probit model to assess the empirical relations. The results reveal that both bank and nonbank credit positively and significantly drive firms' foreign market entry decision in Nigeria. Policy interventions should therefore be directed at creating an enabling environment that would stimulate an increase in the breadth and depth of financial presence across Nigeria. This may be done through offering special tax reliefs to banks and nonbank financial institutions that seek to expand. Banks should also be encouraged to invest in innovative strategies such as branchless banking and mobile banking which have the capability to increase access without the huge cost outlays for physical infrastructure. They should further be encouraged to develop special ‘export credit packages’ for smaller but viable firms that are willing to go into exporting but lack the necessary collateral, and create special ‘task forces’ to monitor and redeem such loans when they fall due. The Government should also channel ‘export development credit’ through banks and nonbank financial institutions to manufacturing firms in Nigeria for efficient allocation, monitoring and collection.

Straipsnyje nagrinėjama, kaip veiklos internacionalizacija galėtų padėti įmonei užimti didesnę rinkos dalį. Darbo objektas yra įmonės internacionalizacija. Tyrimo tikslas yra parinkti tinkamiausią užsienio rinką bendrovės UAB “X” veiklos internacionalizacijos procesams. Remiantis šio tyrimo tikslu, buvo suformuluoti šie uždaviniai: išnagrinėti teorinius internacionalizacijos procesų aspektus; identifikuoti internacionalizacijos modeliavimą ir filtravimą ir parinkti labiausiai pagrįstą užsienio rinką UAB “X” produktų integracijai. Šiam tyrimui pasitelkti darbo metodai: teorinių šaltinių analizė ir sintezė; filtruojanti analizė; įmonės veiklos rezultatų duomenų analizė, statistinių duomenų rinkimas ir lyginamoji analizė. Pagrindiniai tyrimo rezultatai: ištirti teoriniai internacionalizacijos procesų aspektai; pateiktas internacionalizacijos filtravimo modelis; atlikta įmonės veiklos internacionalizacijos analizė. Remiantis šio atvejo tyrimo duomenimis, ateityje būtų galima atlikti detalesnę konkrečios įmonės analizę. Tai dar labiau sustiprintų įmonės galimybes ateityje padidinti eksportuojamos produkcijos kiekius bei sėkmingiau įsilieti į užsienio rinkas. The article analyses how the internationalisation of the performance could help an enterprise to occupy a part of any foreign market. The subject of the study is the internationalisation of the performance of an enterprise. The study aims to choose the most attractive foreign market for the internationalisation of the performance a JSC Ltd. Considering the aim of the study, the following objectives were defined: to review the theoretical aspects of internationalisation processes; identify the modelling and filtering of the internationalisation of the performance; select the most reasonable foreign market for the integration of a JSC Ltd product. The research methods used in the study were the analysis and synthesis of theoretical sources, the analysis of filtering and the data of the performance of the enterprise, the collection of statistical data, and comparative analysis. The main outcomes of the research. The theoretical aspects of internationalisation processes have been examined, i.e. different approaches and forms of performance internationalisation are reviewed; the prevailing models of the internationalisation of the performance have been discussed, and the model of filtering internationalisation is presented; analysis of the internationalisation of the performance of an enterprise is provided. The results of the study obtained can be significant and practical to improve export of a JSC Ltd, as well as become a guideline for other small and medium-sized enterprises (SMEs) focusing on the internationalisation of their performance.

This article uses firm × national market export and import data for all Swedish private sector firms for 1997–2014 to examine the firm-level contribution of trade and foreign ownership to the correlation between Swedish value added growth and partner country gross domestic product (GDP) growth. Export and import links increase the firm-level correlation but net out for firms that both export to and import from the same market, evidence that this type of ‘natural hedging’ can help reduce a firm's exposure to foreign economic shocks. We proceed to aggregate the firm-level results to the whole economy and find that severing firm-level ties with a foreign market is predicted to lower the correlation between Swedish value added growth and foreign GDP growth from 0.72 to 0.64 on average. Gabaix's ‘granularity’ of trade is central to this result: if all firms are given equal weight overall correlations are essentially unaffected by severing firm level ties. Natural hedging is quantitatively important at the firm level and also plays a role in limiting overall comovements.

The paper analyzes the dynamics and structure of trade interaction between Chinese regions and Russia using official Chinese data and assesses the border effects for export and import flows. The analysis shows that Chinese imports from Russia exhibit a much more uneven distribution across Chinese regions than exports. The results of the gravity model estimation indicate that the size of the border effect for exports of Chinese regions to Russia was larger compared to trade barriers with other countries. At the same time, the hurdles impeding the access of Russian production to Chinese regional markets expressed in the ad-valorem tariff equivalent were higher than for other countries. The estimates reveal that Russian exports to Chinese regions have been experiencing higher barriers in recent years than Chinese regional exports to Russia. The findings suggest that leveling barriers would reinforce the access of Chinese coastal regions to the Russian market, making exports to Russia even less evenly distributed across Chinese regions. A substantial reduction of barriers is likely to increase Russian imports in China thanks to the growing flows of Russian goods to virtually all Chinese regions. Accordingly, Russian exporters need to diversify their supply across Chinese regions so as to bypass the middlemen and tap new regional markets in China

The evaluation of the Russian oil and gas companies’ competitiveness in the foreign market under the tough market conditions is of particular importance as it is crucial to retain company’s current position and market share. The article makes qualitative and quantitative evaluation of Russian companies in the global gas market. To analyze the competitiveness of the gas industry company in the foreign market, the authors used a dynamic method of evaluating competitiveness coupled with a SWOT analysis. The dynamic evaluation method offers an opportunity to identify the basic factors that influenced the level of competitiveness of the entity under study and, accordingly, determine the main reserves for increasing its competitiveness. Based on the study conducted, recommendations were made on the increase in competitiveness in the current situation of unstable demand and volatile energy prices. By analyzing the PJSC Gazprom level of competitiveness, as well as its external and internal environment, indicators were identified the regulation of which will lead to the progressive development of the organization and increase in its competitiveness. The practical relevance of the study lies in the possibility to use both the research outcome and the proposed methods in a development strategy for the gas industry company.Keywords: advantages, competitiveness management, SWOT-analysis, oil and gas companies.JEL Classifications: L10, F23, N70DOI: https://doi.org/10.32479/ijeep.10275

Today’s internationalization challenges are no longer limited to dealing with cultural differences in bilateral interactions between a company’s headquarters and its subsidiary. Instead, companies need to simultaneously manage a portfolio of subsidiaries that can be culturally close or distant to each other. Existing literature has so far been slow at conceptualizing and measuring this phenomenon. Drawing on portfolio logic and an ambidexterity lens, we introduce the concept of international cultural ambidexterity (ICA) as a company’s dynamic capability to manage a portfolio of both culturally distant (exploration) and culturally proximate (exploitation) foreign markets. Developing ICA allows companies to benefit from cultural diversity and cultural distance and to better manage tensions arising from internationalization. We highlight differences between cultural distance, cultural diversity and ICA. Subsequently, we introduce a novel way of measuring ICA that extends studies on culture and ambidexterity in foreign market entry research.

Extant research shows that stock returns of investable firms are highly sensitive to foreign market and global information shocks, suggesting that having foreign investors might insulate investable firms from shocks to local fundamentals. Examining 24 emerging markets, we find that both investable and non-investable firms are sensitive to local monetary policy shocks. This allays the concern that emerging-market opening reduces the efficacy of local monetary policy. We also find that in 11 countries (46% of our country-sample), investable firms are more sensitive to local shocks than non-investable firms. Differences in leverage, stock liquidity, size, domestic product-market exposure, or industry cyclicality do not drive this finding.

The purpose of this research is first to ascertain what the brand image of a globally recognized sport club is as perceived by the citizens of a foreign market, then to determine how brand image pr...

During the period spanning independence in 1822 to mid-century, Brazil’s south-east shifted from specializing in the export of cane sugar to coffee. This article explores the mechanism underlying this shift by exploiting a wealth of new monthly data on the Brazilian and international coffee and cane sugar markets during the period 1827– 40. It argues that the timing of the coffee boom was driven by a rapid increase in foreign market potential associated with the abolition of the tariff on coffee in the US. It estimates that American tariff reform served to increase coffee exports and African slave imports by around one-fifth. American firms, wi th in direct li nks to th e slave trade, rapidly became major players in the export market in Rio de Janeiro, while non-American firms, t raditionally s pecialized in c ontinental European destinations, turned their sights on the American market.

The period of temporary economic isolation caused by the Covid-19 pandemic has affected the economies of all countries in the world. After quarantine and the gradual restoration of the activity of all economic sectors, competition in the world market will intensify. Countries will promote strategies for economic growth, improving economic security, increasing exports, and protecting domestic producers. Given the fact that resources are limited and exhaustible, it is necessary to correctly identify priority sectors when developing strategies. For this purpose, the competitiveness index can be used, since competitiveness is one of the main characteristics that allows anyone to determine its position on the market, and increasing competitiveness ensures victory in the competition. The novelty and purpose of the study is to develop two new integral indices, and to improve one symmetric index of comparative advantage developed earlier. Some of empirical and theoretical methods were used in this research: abstraction, the method of ascending from the abstract to the concrete, comparison, measurement, analysis and synthesis, economic and mathematical modelling. To identify priority sectors, the author used the developed indices to assess the competitiveness of goods, not only on the foreign market, but also on the domestic market. This study can serve economists as a tool for assessing the competitiveness of goods, identifying the strengths and weaknesses of the goods offered, in the context of developing measures to increase competitiveness, which will increase the profitability of entrepreneurship.

One of the most important tasks of innovative development of a country and its regions is building an innovative vector of development essential for reaching a competitive level and economic growth. The authors have explored tasks and issues and tasks connected with quantitative explanation of still unresolved dependence of export-oriented countries’ economic growth on export volumes and prices in the foreign market. They used a three- way model of innovative development to study the productivity of resources in different areas of development.As a result of their research the authors introduced a different approach to the notion of innovative development. It allows researchers to view it as a system and integrity in three co-related directions: technique and technology, currency and finance, and society and politics. Thus, they have the opportunity to estimate how much each sector of national (regional) economy individually and all of them together contribute to the economic growth. This approach provides the opportunity to examine the basic holistically co-related directions which allow measuring the level of innovative development, estimating the economy’s innovativeness, determining and viewing differently the innovative paradigm. The authors used mathematical model to study and introduce productivities of major types of resources. They point out that effective functioning of economy (including financial) makes it possible to develop industries gradually and to smooth out economic development of the regions, to avoid structural shifts and disproportions in economy which finally results in the possibility of productive implementation of programs of the country’s innovative development.The authors have systematically studied the correlation between the productivity of resources and the achievement of systematic multiplier effect (there is no wide research found on this problem, the authors dealt with individual indicators of multiplier effect)

PurposeTo help firms with their international operations, governments often create policies and support mechanisms, but its influence on the firm's exit decision has so far been ignored. Hence, the purpose of this study is to examine the impact of home-country governmental support on the firm's exit decision.Design/methodology/approachThe authors test their conceptual model using multiple informants as well as secondary data from China. The sample consists of 360 valid questionnaires from 180 firms. Binary logistics regression is used to test the conceptual framework.FindingsBy demonstrating that resource-based and institutional constructs are highly dependent, the authors show how home-country governmental support interacts with the foreign affiliate's past performance to explain the decision to remain or exit a foreign market. The results indicate that while governmental financial support reduces the likelihood of exiting a poorly performing business in the foreign market, governmental non-financial support surprisingly has an opposite effect.Originality/valueWhile there has been an increasing number of firms exiting foreign markets, this area of research is still limited. The study also contributes to the literature by focusing on home-country governmental financial and non-financial support to explain the firm's exit decision – an issue that has been ignored and is expected to be particularly relevant for firms from emerging economies.

This paper analyses the effect of home corporate taxes on a firm’s decision to expand the scale of its activity through exports using a rich dataset on Italian firms. Starting out from the observation that firms’ export activity vary greatly among them and tend to be systematically related to firm’s characteristics, we relate differences in firms’ export choices to firm level incidence of corporate taxes. Our results suggest that (i) corporate taxes matter at both the extensive and the intensive margin and (ii) higher corporate taxes may increase the probability of new firms’ entry in the foreign market while they decrease the export intensity of incumbent exporters.

PurposeEstablishment of wholly owned subsidiaries in a foreign market is central to international marketing because sole ownership and high commitment facilitate firm's marketing in the local market. Drawing on knowledge-based theory, this study extends the current understanding of firm's sequential establishments of wholly owned subsidiaries in a host country.Design/methodology/approachSwedish firms' establishments of wholly owned subsidiaries in Germany, the United Kingdom and the United States were analyzed using a longitudinal approach.FindingsA firm's broad international experience is associated with an acquisition in any phase, while mode experience and value-adding experience are associated with postinitial acquisitions. There is no association between mode experience and greenfield investments.Research limitations/implicationsKnowledge-based theory explains a firm's choice of establishment mode when establishing in the same host country. Effects of marketing experiences are due to the establishment mode and different experiences explain choices for initial and postinitial establishments.Practical implicationsIn choosing between a wholly owned subsidiary in terms of an acquisition or a greenfield investment, for a foreign establishment the firm is advised to consider the impact of marketing experiences and establishment phase.Originality/valueResearch is needed on how experiences affect choices between foreign establishment modes where the firm is the sole owner. This study is the first to focus on the choice between wholly owned subsidiaries in terms of acquisitions and greenfield investments, and the impact of experience and phase of establishment in a particular host country.

The choice of an entry mode is one of the most critical decisions for firms expanding abroad. There are a variety of foreign market entry modes such as exporting, licensing, and foreign direct investment. While many firms use only one single mode, others frequently employ multiple different combined modes for a foreign entry in a package. Mode combination can be an effective way to achieve better performance in foreign operations because of the different modes in a combination package complement each other. The topic of mode combination, however, has not yet been extensively studied theoretically and empirically. In this paper, we examine factors affecting firms’ choice between a single-mode and a combined mode by establishing hypotheses and testing them using questionnaire survey data on Korean manufacturing firms’ recent entry into Uzbekistan.

Survival in a foreign market is not always the same as in the home market. This study examines interaction effects between cultural distance, country risk, entry mode, firm age, investment location...

International audience; The objective of this article is to examine the relevant dimensions of distance for foreign market entry mode choice. Based on a sample of 203 interfirm linkages formed by French multinationals with partners across the world, we analyze the impact of four dimensions of distance on the choice between cooperative alliances and mergers-acquisitions. The findings indicate that administrative and economic distance have a significant influence on market entry mode choice, whereas the impact of cultural and geographic distance is not significant. They further highlight the important role of the host country's government effectiveness for market entry mode decisions.

Purpose The purpose of this paper is to present an overview of the intersection of research into international marketing (IM) and the internet, seeking areas where knowledge is developing, and where further research is required. Design/methodology/approach The study utilizes an integrative review of the extant literature. Findings The study identifies the role of the internet as a tool for competitive advantage and internationalization. In considering these aspects of the internet within IM, the necessity for establishing a foreign market presence is also examined. Further, it is asserted that the internet’s influence on internationalization is largely through exporting of products and digital services. Originality/value The paper offers a new perspective on the issues emerging in the literature in terms of IM and the internet, and identifies new avenues for future research.