Search

Copyright of URVIO - Revista Latinoamericana de Seguridad Ciudadana is the property of FLACSO - Ecuador (Facultad Latinoamericana de Ciencias Sociales) and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Debates over trade liberalization vs. protectionism have becoming increasingly relevant as the world moves through a contentious era of economic globalization. This is particularly true in the United States, where an elite consensus on the merits of free trade has fractured in recent years. While we know a good deal about the economic and cultural determinants of trade opinion, we know little about how attitudes toward government may matter. Here, I address this oversight by examining the relationship between political trust and trade support. I do this with cross-sectional and panel data from the American National Election Studies (ANES) and the National Annenberg Election Surveys (NAES), and a survey experiment fielded through Amazon's Mechanical Turk (MTurk). Overall, I find that there is a positive and substantively significant relationship between political trust and mass support for free and open "pro-trade" policies. I attribute this to greater citizen confidence that government will pursue trade deals in the national interest and mitigate any perceived risks associated with free trade. These findings help us to better understand the determinants of public opinion toward trade policy and underscore the consequences of political trust. [ABSTRACT FROM AUTHOR]

Accelerating economic globalization is a major driver of the transfer of embodied pollutant emissions from trade. China and the United States are currently the largest importers and exporters of agricultural products, respectively, and are also major producers and consumers of these products. This paper aims to analyze and compare the patterns of embodied agricultural carbon emissions (ACE) in the two countries, which is crucial for understanding how trade influences the transfer of such emissions. In this study, we calculated the embodied ACE of China and the United States from the perspectives of production and consumption for the years 1970, 1980, 1990, 2000, 2010, and 2016 by establishing a multi-regional input–output (MRIO) model. Additionally, we employed the Logarithmic Mean Divisia Index (LMDI) decomposition method to analyze the driving factors behind the changes in embodied ACE over time. The findings indicated that the embodied ACE associated with imports and exports in China and the United States followed a pattern of increase and subsequent decrease during the period 1970–2016, with net imports escalating from −18.79 million tons and −3.62 million tons to 40.35 million tons and 51.22 million tons, respectively. This study identified two main factors contributing to the reduction in embodied ACE in both countries: the declining intensity of embodied ACE per unit of traded products and the diminishing proportion of the primary industry. The growth in GDP per capita, population expansion, and an increase in the proportion of agricultural products in international trade are predicted to promote an increase in embodied ACE imports and exports in both countries. This paper advocates for the reduction of embodied ACE through the continuous promotion of research and application of energy-saving and emission-reduction technologies, an optimized industrial structure, and the implementation of relevant energy-saving and emission-reduction policies. [ABSTRACT FROM AUTHOR]

In the context of globalization and urbanization, mobility has expanded the geographical scope of infectious diseases transmission, and the epidemic outbreak has posed big challenges to human health and economic and social steadiness. From a local scale, the natural and social diversity in each region makes it show differentiated characteristics of vulnerability and resilience when facing the epidemic. Therefore, this article focused on the types of infectious diseases which can be transferred by infected person, constructed a vulnerability evaluation index system based on the three dimensions, including exposure, sensitivity and adaptability, used entropy method to identify the spatial differentiated characteristics of vulnerability to infectious disease outbreaks in American counties, utilized various methods containing comprehensively clusters analysis, literature analysis and others to discuss the division of vulnerability types in America counties, and clarified the impact mechanism that affects the vulnerability of infectious disease outbreaks through analyzing the literature. The results are as follows: ①Overall, the vulnerability of infectious disease infection in American counties is mostly at a low or lower level, with relatively significant spatial differentiation characteristics. ② Summarize the mechanism of infectious disease outbreaks: The outbreak of infectious disease is driven by natural and anthropogenic disturbance factors, including genetic mutation, biological disasters, land use changes, globalization and the like. Exposure involves social connections at domestic and international scales. Sensitivity involves four aspects, individual risks, urban environment, economic security, and social proliferation. Adaptability involves three aspects, government emergency response, medical systems, and social security. ③Based on the score of the influencing factors of vulnerability of infectious disease outbreaks, American counties are divided into 10 regional types to analyze the driving mechanism of vulnerability. [ABSTRACT FROM AUTHOR]

Strategists observe that the world is moving toward deglobalization thinking, and developed states have already marked their beginning. In this study, we have tried to analyze how the impact of globalization is different in the case of an emerging market country and a developed country. We have chosen India for our study because of its robust growth in manufacturing and business-friendly policy reforms. On the other hand, we have taken the case of the United States pertaining to the recent policy reforms it has undergone. We have employed the SAP-LAP approach to analyze the country's case situation. This research finds that India's way of managing globalization has positively affected its dominant performance domains like employment rate, GDP growth, and poverty. Conversely, in the case of a developed country like the United States, globalization has adversely impacted the dominant performance areas, particularly GDP, employment generation rate, and poverty. [ABSTRACT FROM AUTHOR]

This article focuses, from the prism of International Economic Law (IEL), on the issue of remittances and international migration, with an approach based on human rights and economic inequality in this hemisphere. It is particularly limited to the case study of Mexico and its dynamics of individual and collective remittances, sent by the Mexican migrant population residing in the United States to their families and communities in Mexico. The analysis of the issue of remittances is also carried out with a look at economic globalization and with a trans-territorial approach of the Mexican nation-state, which is integrated in addition to its population settled in its territorial space, by the Mexican population residing in the States. The present study is from the IEL perspective, the epistemic synergy becomes relevant in a context of international migration with a human rights view, in order to analyze the remittances linked to the phenomenon of economic inequality and its potential effects for Mexico and the United States in the present decade. [ABSTRACT FROM AUTHOR]

Extraterritorial Application of National Trademark Laws: Conflict of Laws and the Changing Nature of Sovereignty and Territoriality Under public international rules all countries are equal sovereigns which have an absolute sovereignty within their territory. The globalization and economic integration and the advent of the internet has in fact blurred the clear-cut national borders making the concept of territoriality not effective and relevant in terms of the scope of exercise of national sovereignty. For this reason, a country like the United States with great economic, financial and military power could in fact have more meaningful power to exercise jurisdiction beyond its national borders. This is not only a legal assertion of jurisdiction but also a de facto power with the sanctionable remedies exercised within the United States with the deterrent effects beyond its national borders. Whether this exercise of power is legitimate under public international law is not a settled matter. Trademark law is one of the contexts in which the legitimacy of international application of national law should be examined. [ABSTRACT FROM AUTHOR]

Our study explores the relationship between tourism and globalization (both overall, and in terms of three sub‐indices, namely economic, social, and political globalization) in the United States (US) using monthly data from January 1995 to December 2017. We employ the quantile‐on‐quantile (QQ) regression technique for our analysis. The sample period of the present study allows the separate examination of the relationship between globalization and tourism both before the global financial crisis (1995–2007) and after (2008–2017). The findings suggest that in the US during the precrisis era, all the globalization indices and tourism are positively bidirectionally related. During the postcrisis period, all globalization indices positively affect tourism, but tourism has a negative effect on economic and political globalization. The theoretical and policy implications of the empirical findings are discussed. [ABSTRACT FROM AUTHOR]

Contemporary economic globalization is typically seen as a product of both trade and economic liberalization after the Second World War and of technological advances that have made it possible to overcome coordination and management of geographically dispersed production units. Trade liberalization and technological advances were certainly important variables, but I argue that it was neo-protectionist American policies of the early 1980s that provided the initial catalyst for globally networked production processes. American protectionism encouraged Japanese investment in the United States that allowed US car manufacturers to learn the essentials of network manufacturing as practiced by Japanese transplants in the United States. In the next stage of global network manufacturing, liberal trade played a much more pivotal role because the global supply chains could not obviously be maintained without liberal trade. In this paper, I also discuss the likelihood of a reversal and suggest that globalization is unlikely to reversed in a significant way. Liberal trade is essential to the integrity of global supply chain networks, but these new production processes have themselves created a firewall against future systemic protectionism. [ABSTRACT FROM AUTHOR]

With the process of economic globalization and political multi-polarization accelerating, it is especially important to predict policy change in the United States. While current research has not taken advantage of the rapid advancement in the natural language processing and the relationship between news media and policy change, we propose a BERT-based model to predict policy change in the United States, using news published by the New York Times. Specifically, we propose a large-scale news corpus from the New York Times covers the period from 2006 to 2018. Then we use the corpus to fine-tune the pre-trained BERT language model to determine whether the news is on the front page, which corresponds to the policy priority. We propose a BERT-based Policy Change Index (BPCI) for the United States to predict the policy change in the future short period of time. Experimental results in the New York Times Corpus demonstrate the validity of the proposed method. [ABSTRACT FROM AUTHOR]

Since the mid-1980s U.S. domestic firms have faced significant increases in foreign-based (i.e., import) competition as reductions in barriers to international commerce have resulted in markets and industries becoming increasingly global. Despite the growing and widespread importance of foreign-based competition, the influence that such competition may exert on corporate diversification strategy is a question largely overlooked in the strategic management literature. This paper examines the impact of foreign-based competition in a firm's core business on both the level and nature of a firm's diversification strategy at the corporate level in a panel dataset of U.S. firms over the period 1985-94. Our findings provide the first evidence that increased foreign-based competition is indeed a statistically significant factor explaining both the reduced business-level diversity and the increased strategic focus of U.S. firms that has been widely perceived over the past two decades. [ABSTRACT FROM AUTHOR]

We investigate the factors influencing the selection of stocks for option listing. Exchanges tend to list options on stocks with high trading volume, volatility, and market capitalization, but the relative effect of these factors has changed over time as markets have evolved. We observe a shift from volume toward volatility after the moratorium on new listings ended in 1980. Using control sample methodology designed to correct for the endogeneity of option listing, we find no evidence that volatility declines with option introduction, in contrast to previous studies that do not use control samples. [ABSTRACT FROM AUTHOR]

We examine the contribution of cross-listings to price discovery for a sample of Canadian stocks listed on both the Toronto Stock Exchange (TSE) and a U.S. exchange. We find that prices on the TSE and U.S. exchange are cointegrated and mutually adjusting. The U.S. share of price discovery ranges from 0.2 percent to 98.2 percent, with an average of 38.1 percent. The U.S. share is directly related to the U.S. share of trading and to the ratio of proportions of informative trades on the U.S. exchange and the TSE, and inversely related to the ratio of bid-ask spreads. [ABSTRACT FROM AUTHOR]

The complexity surrounding globalization offers a unique context in which to study the moderating role of uncertainty on top management team (TMT) demographic effects. In a sample of United States-based industrial firms, TMT international experience, educational heterogeneity, and tenure heterogeneity were positively related to firms' global strategic postures, and functional heterogeneity exhibited a negative association. However, when the level of uncertainty facing TMTs was accounted for, these associations were found to be nonlinear. [ABSTRACT FROM AUTHOR]

Non-U.S. firms cross-listing shares on U.S. exchanges as American Depositary Receipts earn cumulative abnormal returns of 19 percent during the year before listing, and an additional 1.20 percent during the listing week, but incur a loss of 14 percent during the year following listing. We show how these unusual share price changes are robust to changing market risk exposures and are related to an expansion of the shareholder base and to the amount of capital raised at the time of listing. Our tests provide support for the market segmentation hypothesis and Merton's (1987) investor recognition hypothesis. [ABSTRACT FROM AUTHOR]

• Re-examination of the EKC hypothesis, taking into account the role of international trade. • International trade postpones the peak time of global CO 2 emissions. • The validity of the EKC for global CO 2 emissions, the role of trade cannot be overstated. • Based on the production principle and on the consumption principle, 39 countries can be classified into 5 groups. In the three decades since the environmental Kuznets curve (EKC) hypothesis was proposed, there have been a massive amount of empirical studies on the relationship between per capita income and carbon dioxide (CO 2) emissions based on the production accounting approach. International trade has played a critical role in effectively and efficiently allocating resources in the process of economic globalization. Through international trade, part of the responsibilities for CO 2 emission mitigation which should have been taken by consumers have been transferred to the producers of traded goods and resources. The focus of this research is on the re-examination of the EKC hypothesis, taking the role of international trade into account. The findings are as follows. In the first stage, we calculated the CO 2 emissions of 39 countries using the input-output analysis approach based on production accounting and consumption accounting. Currently, China is the largest CO 2 emitter, surpassing the U.S. However, the per capita CO 2 emissions of China lag behind those of the U.S. In the second stage, although both an inverted U-shaped curve and an N-shaped curve were obtained, the cubic functional form model is better fitted. In addition, the turning point occurs earlier if adopting the production-based accounting rather than adopting the consumption-based accounting, implying that international trade postpones the peak time of global CO 2 emissions. From the above analysis, it follows that when testing for the validity of the EKC for global CO 2 emissions, the role of trade cannot be overstated. [ABSTRACT FROM AUTHOR]

Under the conditions of deepening economic globalization and changes in regional integration unions functioning, formation and support of mutually beneficial and effective cooperation between countries is an important issue. Despite geographic proximity, cultural similarities and high efficiency of economic interactions, current state of the US-Canada trade cooperation worsens due to the ambitions of the USA as a global economic leader, alongside with unresolved trade disputes and increasing deficit of trade in goods and services. According to the analysis of the US-Canada external trade, it was concluded that due to long-lasting trade, the related supply chains have become highly integrated. The USA buys mostly raw materials and semi-finished products which are then used in finished products designated for internal and external markets. A lot of them even are sold back to Canada. However, there is a controversy in the USA and Canada interests. The USA seeks, first of all, to keep the world leading economic positions, to expand dutyfree market available for the sales of domestic producers etc. Canada intends to get rid of protectionist restrictions presumed in American legislation and, thus, to increase the competitiveness of its producers' of goods at the US markets. Estimating the coefficient of trade connectivity, which is bigger than 1, it was evidenced that both countries, in case of trade relations' worsening or break, will be hardly reoriented on other partners. Our regression analysis shows that Canada's GDP positively depends on Canadian exports to the USA, while the subsequent permanent increase in Canada's exports to the USA is forecasted. However, it had been argued that the perspectives of future cooperation hardly depend on the results of negotiation regarding NAFTA reforming which turned into USMCA. Despite the positive conclusion of negotiations on NAFTA's reform and its transformation into USMCA/CUSMA, Canada still has to come up with a more rational policy in order not to become the fifty-first state of the US within the currency and, then, political union. [ABSTRACT FROM AUTHOR]

The article discusses the role of artificial satellites from the U.S. Landsat program in discovering natural resources. Topics include the relation of space exploration to globalization, the role of the program in U.S. relations with Third World nations, and the relation of the program to environmental degradation related to resource extraction.

Regional integration in Asia has been considerably enhanced over the past 20 years or so. Whether integration helps Asian countries reduce their vulnerability to external shocks or is a channel for spreading external shocks remains an open question. This paper assesses the spillovers from US monetary policy shocks to Asian countries while taking into account country‐specific characteristics in explaining differences in timing and magnitude of responses across Asian countries. The results indicate that policy interest rates in Asian countries generally respond to innovations in the Fed rate in the same direction, but typically with a lag of one quarter. However, the size of the responses varies across Asian countries with respect to country‐specific characteristics. These results suggest that an independent monetary policy may not be feasible for an Asian developing country that adopts a pegged rate regime while being extensively integrated into the world economy. However, the hypothesis of the impossible trinity may not be relevant in the case of China. [ABSTRACT FROM AUTHOR]

After decades of broad, bipartisan support for global economic integration, US politics has been shaken by a backlash against global economic governance. The promise of internationally derived gains no longer suffices to smooth over domestic distributional consequences. The Trump administration has turned inward, shunning multilateral governance and raising the following question: If the US and other protectionist governments step back from global economic governance, what will step forward? We contend that weakened global governance is unlikely to cause economic integration itself to unravel. Powerful business interests that benefit from the global economy can use private governance to set their own regulatory agendas using their market power. By stepping away from global governance, states weaken their own bargaining power vis-à-vis powerful domestic groups and curtail the influence of civil society groups. Paradoxically, the Trump administration's step back from global governance would leave power in the hands of firms that predominantly benefit from the status quo. [ABSTRACT FROM AUTHOR]

The article examines the potential for Information Technology (IT) to support global organization for companies in the U.S. The authors suggest that IT will be able to eliminate a great deal of the inefficiency in business processes associated with the coordination of activity between consumers and providers of goods. They note that IT has capabilities to reduce time frames associated with the delivery of goods and services. They also praise IT for being able to create greater organizational autonomy and provide more efficient access to information. They believe that together IT and globalization will revolutionize the business world. They also discuss some of the obstacles that the business world will have to overcome in order to maximize the benefits of globalization.

The article discusses the managerial and intellectual challenges of globalization. The author notes that one of the most significant characteristics of the business world of the 1980s was the shift towards a more global community for numerous industries. The author notes that both intellectual and market leadership, in a variety of industries, left the U.S. creating an industrial landscape that looked remarkably different than that from the period on 1950-1975, which heavily favored the U.S. The author discusses some of the challenges that this shift has brought to the business community and stresses the need for more productive collaboration between academics and practitioners in order to successfully deal wit these challenges.

Federal Reserve Chairman Alan Greenspan inaugurated the Haas Annual Business Faculty Research Dialogue at the University of California, Berkeley, on September 4, 1998. In this article, the chief architect of U.S. monetary policy acknowledges the unpredicted and somewhat inexplicable "new" features of the economy. He also lays out some enduring lessons from the old economy. One of those lessons is that expectations about the future inevitably hold sway in the markets for both financial capital and physical capital. Investment inherently turns on expectations about the sizes and risks of profit and loss. These expectations reflect not only data but also human psychology. [ABSTRACT FROM AUTHOR]

Recent writings on competitiveness fall into three almost disjointed clusters. One is oriented toward firms. A second is concerned with macroeconomic conditions. A third is about national industrial policies. Writings in each of the three perspectives purport to give a virtually complete explanation as to why American companies have been faring so badly recently in international competition. Each of the explanations is plausible, and yet they are completely different. This article aims to describe each of them and to sketch out how they might be joined with each other to arrive at a more integrated perspective. [ABSTRACT FROM AUTHOR]

The article discusses the need for cooperation among U.S. corporations in the global marketplace. The increased level of competition is leading to a re-evaluation of U.S. policies, ideologies, and institutions. This has led to a concern for interfirm agreements. A balance between cooperation and competition is being pushed for, with strong implications for corporate strategy and public policy. The drive towards cooperative arrangements can be attributed to the fragmentation of industries like electronics coupled with steady escalation in the costs of innovation. Experts say these developments may cause a re-examination of the U.S.' antitrust laws.

The article discusses trade relations between the U.S. and Japan in 1987. The trade and industrial relations between the two nations are tense because both countries are major players in the global economy. The true nature of the conflict is about which country assumes global industrial and technological leadership. Analysts speculate that Japan could dominate many of the world's industries, particularly high technology. They say if this were to occur the U.S. would become increasingly poorer and its relative standard of living would decline.

The U.S. has not responded wholeheartedly or effectively to the challenge of international competition. Our competitive position is eroding. Reversing this trend requires more than new tactics or new roles for government--government has not effectively performed the role it already has. This article is based on the report of the President's Commission on Industrial Competitiveness, which was chaired by the author. [ABSTRACT FROM AUTHOR]

This study presents direct evidence on the effect of international acquisitions on stock prices of U.S. bidding firms. Shareholders of MNCs not operating in the target firm's country experience significant positive abnormal returns at the announcement of international acquisitions. Shareholders of U.S. firms expanding internationally for the first time experience insignificant positive abnormal returns, while shareholders of MNCs operating already in the target firm's country experience insignificant negative abnormal returns. The abnormal returns are larger when firms expand into new industry and geographic markets-especially those less developed than the U.S. economy. The evidence is consistent with the theory of corporate multinationalism, predicting an increase in the firm's market value from the expansion of its existing multinational network. [ABSTRACT FROM AUTHOR]

In this paper, ex ante efficient portfolio selection strategies are developed to realize potential gains from international diversification under flexible exchange rates. It is shown that exchange rate uncertainty is a largely nondiversifiable factor adversely affecting the performance of international portfolios. Therefore, it is essential to effectively control exchange rate volatility. For that purpose, two methods of exchange risk reduction are simultaneously employed: multicurrency diversification and hedging via forward exchange contracts. The empirical findings show that international portfolio selection strategies designed to control both estimation and exchange risks almost consistently outperform the U.S. domestic portfolio in out-of-sample periods. [ABSTRACT FROM AUTHOR]

The revolution in management techniques of the last 15 years has spurred the growth of large international companies of a complexity hitherto unknown. A complete rethinking of traditional views of trade is required. [ABSTRACT FROM AUTHOR]

International trade law has been oblivious to social inclusion. Although trade is not primarily to blame for rising inequality and social conflict, it is not wholly innocent either. International trade law plays a powerful role in fomenting the conditions under which people thrive, implicating social equality and inclusion. The impacts of trade and rapid technological change on income inequality and the security of work have become politically salient issues in the United States and Europe. They have led to the rise of nativist political parties that threaten to upset the international trade legal order. The outcome could be dire. This Article explains how international trade law can and should be retooled to support social inclusion. By doing so, it can: (1) help combat harmful tax competition, avoidance, and evasion; (2) aid domestic social security and job retraining; (3) support labor protection; (4) deter social dumping; and (5) enable industrial policy experimentation for development. This Article makes concrete proposals. [ABSTRACT FROM AUTHOR]

I argue that international trade increases military enlistment in the United States. Trade-related job losses reduce economic opportunities in local labor markets, and the government responds by increasing military recruitment efforts in those counties. This dynamic challenges conventional accounts of globalization, which tend to overlook the local impact of free trade and only examine the traditional welfare policies that governments offer to compensate "trade losers." This study analyzes an original, county-level data set on army enlistment and trade-related job losses from 1996 to 2010. The results suggest that a trade shock of one thousand job losses is associated with a 33 percent increase in army enlistment in the median county. To illustrate the causal mechanisms that link free trade to army enlistment, this study also presents a case study based on original interviews in Catawba County, North Carolina, a county particularly impacted by trade liberalization. [ABSTRACT FROM AUTHOR]

The article focuses on economic competition between China and the U.S. with emergence of economic globalization and explosive technological innovation. Topics discussed include autocracy with a state-protected economic system challenging an established democracy with a free-market economic system, profound interdependence wielding tariff threats, standard-setting, technology theft, financial power, and infrastructure investment for advantage and international financial instruments are an important weapon in peacetime economic great power competition. It mentions advocacy for special drawing rights at the International Monetary Fund (IMF) and investment in new global credit rating agencies for sovereign debt.

Abstract: Previous scholarship has suggested that British trade was generally unaffected by foreign tariffs during the period from 1870 to 1913. This article focuses specifically on Anglo‐American trade, which was the largest bilateral flow of trade during the first era of globalization, and finds that tariffs were the sole intertemporal determinant of Anglo‐American trade costs. However, the determinacy of tariffs for Anglo‐American trade costs only becomes apparent when the tariff variable incorporates a measure of the bilateral American tariff toward Britain, which this article reconstructs. The article concludes by claiming that Anglo‐American trade represents a major qualification to any emerging consensus that foreign tariffs were of minor significance to the trade of late nineteenth‐century Britain. [ABSTRACT FROM AUTHOR]

With the rapid development of economic globalization, projecting a positive image overseas and creating world famous brands have become vital to enhance industrial and national core competencies and execute the "Going out" strategy. To achieve the goals, corporates attach significance to establish and maintain corporate websites in view of its convenience, autonomy and interactivity while encountering cross-cultural challenges. This study employs corpus analytical tools to conduct content analysis on the existing cross-cultural differences and the linguistic and cultural features, between Chinese and US energy companies' websites based on Aaker's brand personality framework and Hofstede's cultural dimension theory. Findings reveal that there is a significant difference between occurrence frequencies of brand personality dimensions between China and US, and their websites linguistic discrepancies are relevant to their cultural differences. The study may provide meaningful implications on employing linguistic theories and methods to conduct multidisciplinary studies on corporate communication online. [ABSTRACT FROM AUTHOR]

We develop a quantifiable multi-country sourcing model in which firms self-select into importing based on their productivity and country-specific variables. In contrast to canonical export models where firm profits are additively separable across destination markets, global sourcing decisions naturally interact through the firm's cost function. We show that, under an empirically relevant condition, selection into importing exhibits complementarities across source markets. We exploit these complementarities to solve the firm's problem and estimate the model. Comparing counterfactual predictions to reduced-form evidence highlights the importance of interdependencies in firms' sourcing decisions across markets, which generate heterogeneous domestic sourcing responses to trade shocks. (JEL D24, F14, F23, L14, L21) [ABSTRACT FROM AUTHOR]