Journal articles on the topic 'News International (Firm) Strike'

The economic strike literature focuses on rational actors engaging in strike activity to increase their economic outcome. A separate literature emphasizes institutional, behavioural and political reasons for strike activity. While these literatures are rarely integrated, we posit that micro-level institutional turmoil, indexed by the presence of intra-firm union rivalries or outside third-party provo cateurs, and the maturity of the bargaining relationship, are important determi nants of economic strike activity. In three new micro-level data sets from Korea, micro-level institutional turmoil is found to be significantly related to strike activity.

Purpose The purpose of this study is to develop an analytical comparison between the impact of social media communication (both user-generated and firm-created) and the effects of traditional media communication. In particular, the components of customer-based brand equity and any difference in the effects according to brand origin associations are investigated. The target group consisted of fans and followers of beer brands on social media. Design/methodology/approach In all, 192 questionnaires were collected a survey link that was posted on beer brand pages that operate in the Italian market. Structural equation modeling was developed to investigate the impact of social and traditional media communication on brand equity and a multi-group analysis to examine the differences according to the brand names’ origin associations. Findings Results show that fans and followers cannot be considered as a collective unit. Additionally, consumers make a clear distinction between firm-created/user-generated social media and traditional media communication. Specifically, they distinguish how the effects of the two media outlets differ in relation to the brand origin associations. International brands should concentrate on both firm-created and user-generated communication, whereas national (Italian) brands should foster their firm-created communications. In both cases, however, traditional media communication loses its effectiveness on the brand equity components. Originality/value Contrary to existing literature, this project compares the effect of 2.0 and traditional media on various social media platforms, pointing out two different models according to the brands’ origin associations. This study develops interesting insights both for international companies with huge brand portfolios and for national firms in a complex market like those for beer.

ABSTRACT Top management of a multidivisional firm needs to strike a balance between providing transfer pricing autonomy to divisional managers and retaining some level of control to prevent dysfunctional behavior. Little empirical evidence exists on how top management makes this trade-off. Drawing on agency theory, we predict that transfer pricing autonomy is influenced by intermediate product standardization, foreign investment, tax rate difference, and the weight on firm-level performance measures in the divisional manager's performance evaluation. We also predict that the extent of mismatch between transfer pricing autonomy and organizational characteristics leads to lower perceived fairness and perceived transfer pricing effectiveness by divisional managers. Using data collected from a cross-sectional survey of 210 divisional managers, we find results consistent with our predictions.

If you follow the news, you might think that international disarmament law and policy have not been successful at preventing atrocities. Tuesday marked the fifth year of the war in Yemen. That same day, a Save the Children hospital was hit by a deadly air strike. Yesterday, the commander of U.S. forces in South Korea informed Congress that North Korea's actions are inconsistent with nuclear disarmament.

Native advertising is a type of online advertising that matches the form and function of the platform on which it appears. In practice, the choice between display and in-feed native advertising presents brand advertisers and online news publishers with conflicting objectives. Advertisers face a trade-off between ad clicks and brand recognition, whereas publishers need to strike a balance between ad clicks and the platform’s trustworthiness. For policy makers, concerns that native advertising confuses customers prompted the U.S. Federal Trade Commission to issue guidelines for disclosing native ads. This research aims to understand how consumers respond to native ads versus display ads and to different styles of native ad disclosures, using randomized online and field experiments combining behavioral clickstream, eye movement, and survey response data. The results show that when the position of an ad on a news page is controlled for, a native ad generates a higher click-through rate because it better resembles the surrounding editorial content. However, a display ad leads to more visual attention, brand recognition, and trustworthiness for the website than a native ad.

We examine how a firm’s operational slack is associated with current income and future stock price crash risk. By doing so, we test the validity of a firm’s alternative motivations for holding operational slack. We show that Supply Chain Slack, which is based on excess working capital, is associated with higher current profits and higher future crash risk. This evidence is consistent with the firm hoarding bad news. In contrast, SG&A Slack, which is based on excess selling, general, and administrative expenses, is associated with lower current income and lower future crash risk. This evidence is consistent with the firm insuring against rare and adverse events. Furthermore, a firm’s stock price crash risk is lower when a slack type is more costly, consistent with both motivations. Overall, our findings suggest a stronger profit-crash risk tradeoff when firms hold more operational slack.

This study examines the effects of the adoption of International Accounting Standards No. 12, Income Taxes (IAS No.12) on the incremental information about future profitability for firms reporting losses compared to Korean Generally Accepted Accounting No.16, Accounting for Income Taxes (K-GAAP No.16). Specifically, this paper shows that whether the IAS No.12 affects the information of deferred tax assets (DTAs) regarding loss persistence which implies the ability to predict earnings sustainability. Using a sample of 2,905 observations from Korean listed firms that reported a loss between 2007 and 2014, we divide loss firm-years into categories of ‘good news’ (GN) or ‘bad news’ (BN) based on whether management appears to report an increase in DTAs. We find that our tax categories have incremental information about the probability of loss reversal under K-GAAP No. 16, but under IAS No.12 the incremental effects of a deferred tax balance disappear. Also, we find that investors underweight the informativeness of DTAs under K-GAAP, and after the adoption of IAS No.12, investors cannot obtain buy-and-hold returns by buying GN firm-years and selling BN firms-years. However, this is not because investors understand the information of DTAs, but because the informativeness of DTAs deteriorates after the relaxation in the recognition threshold of DTAs.

Triple bottom line is making businesses increasingly conscious about the people, planet and profit. On one side where earning profits are crucial for organizations, the concept of sustainable corporate social responsibility (CSR) is also emerging as a major concern for the corporate strategy. How to strike a balance between the two is one of the major challenges ahead for organizations. Moreover, Indian consumers are also nowadays becoming more aware about the responsibilities that a firm should possess. They are not ignorant as they were earlier; media is more vigilant and companies have now started knowing about the escalating negative effects of neglecting society, dynamism, building brand reputation by incorporating CSR and increased competition in the marketing environment for being socially responsible. Therefore, this article is an endeavour to measure the extent to which Indian consumers are aware about CSR and whether CSR has any impact on Indian consumers’ actual buying behaviour. Data were collected from 232 respondents via a questionnaire. The results showed a significant positive effect of independent variables called intensity, intended loyalty and influence of socially responsible firms on dependent variables which is consumers’ actual buying behaviour. Regression analysis was carried out to arrive at the result. In addition to this, the study also found that Indian consumers are aware about the CSR activities of the organizations. The result also indicated that CSR is one of the determining factors while purchasing any product or services.

Companies are increasingly held accountable for their corporate social irresponsibility (CSI). However, the extent to which a CSI event damages the firm largely depends on the coverage of this event in high-reach news media. Using the theory of news value developed in communications research, the authors explain the amount of media coverage by introducing a set of variables related to the event, the involved brand, and media outlet. The authors analyze a sample of 1,054 CSI events that were reported in 77 leading media outlets in five countries in the period 2008–2014. Estimation results reveal many drivers. For example, the number of media covering the story may be 39% higher for salient and strong brands. 80% more media report the event if a foreign brand is involved in a domestic CSI event. When a brand advertises heavily or exclusively in a news medium, this reduces the likelihood of the news medium to cover negative stories about the brand. The average financial loss at the U.S. stock market due to a CSI event amounts to US$321 million. However, the market reacts to the event only if 4 or more U.S. high-reach media outlets report on the event.

This study identifies the dominant frames presented in opinion articles published from 20 August to 17 September 2013 on the alternative website – antiwar.com – and the mainstream website – cnn.com; this timeframe includes articles published a week before and a week after the US administration’s decision to attack and withdraw from Syria. The article employs qualitative content analysis and Entman’s framing theory to code the data and extract the themes and dominant frames present in a total of 87 opinion articles. The study concludes that cnn.com provided frames that presented Bashar al-Assad as a ‘brutal villain’ who uses chemical weapons on his own people, while providing frames that stress Barack Obama’s incompetency in carrying out a strategic plan and highlight the negative consequences of a strike. However, antiwar.com articles are more resonant and consistent than cnn.com articles, and provide frames that encourage readers to protest against engaging in another war, reminding them of the failures of similar past wars such as the Iraq War and its negative consequences, as well as stressing the major players that benefited from a military intervention.

Media-aware stock movements are well acknowledged by the behavioral finance. As the soul of a firm, CEO’s media behavior is critical to the operation of a firm. CEO’s exposure could have captured the investors’ attention and enhanced the media effect in the stock market in terms of the “eyeball economics”, or CEO’s overexposure could have attracted more attention than firm-specific news, which attenuate the media effect in the stock market due to the investors’ limited attention. This study systematically explores the role and the moderating effect of CEO’s media behavior on the relationship between media content and stock markets. Using daily frequency data for a sample of Chinese stocks, this study shows that higher CEO media exposure attenuates the media effect on stock markets, especially consumer-related stocks.

Abstract This study is explored by a qualitative analysis of visual media practices in times of international conflicts. The analysis focuses on one of the leading sources of television news in the world, namely CNN, during its coverage of the 2003 Iraq War. Due to its national and international character and its popularity in coverage of war and international conflicts, CNN is thought of as a world leader in covering global conflicts. Accordingly, this research is directed toward the ways public perceptions were formed about particular ideas through CNN’s coverage. In order to develop an accurate sense of the programming that aired during the period under study, a qualitative content analysis was conducted in which a selected sample was selected and analyzed. This sample consisted of 20 CNN news stories during the first two months of the 2003 Iraq War. Relying on transcripts and videotapes of the key events of the first two months of the 2003 Iraq War CNN’ such as “Decapitation Strike”, “Shock and Awe”, Toppling of Saddam’s Statue and the bombing of Al Jazeera Office in Iraq, the qualitative analysis aims at discerning intonation, verbal and visual emphases and the subtle cues that are uniquely embedded in the visual medium. The analytical tool that is used to conduct the qualitative analysis of the selected sequences from CNN’s coverage of the 2003 Iraq War is grounded in framing analysis. The content and qualitative framing analysis of the selected sample of the CNN’s news stories about the 2003 Iraq War reveal that CNN echoed the American centered perspectives, aligning with the official war narrative supporting the war cause, and abiding by the U.S. military censorship measures.

Purpose The purpose of this paper is to assess how sponsorships affect firm values in professional cycling. Both the effect of entering a sponsorship contract and reactions to good or bad news during the contract period are investigated. Doping scandals are used as examples of bad news and race wins as examples of good news. Design/methodology/approach The well-known event-study methodology of analyzing stock prices is used. In order to avoid unnecessary noise, the main emphasis is on short-term stock market effects. Findings The main original finding is a significant negative reaction to doping scandals within the sponsored team, indicating that the outcome of sponsoring agreements is important for investors. There are no significant stock market reactions to the announcement of sponsorships, hence sponsoring cycling teams in general are perceived as value neutral to the sponsor. Originality/value The paper encourages sponsors and cycling teams to focus on anti-doping measures as doping scandals are perceived as value destructive. This contradicts previous studies with smaller data samples. The negative impact of doping scandals outweighs the potential positive effects of winning cycling races.

Synopsis Controladora Comercial Mexicana, a Mexican retailer, had successfully managed the bankruptcy process and was ready to emerge from its problems, primarily caused by speculation and excessive debt, and begin operations anew. Was the restructured Comerci capable of regaining its position as a premier retailer, and more importantly, was the firm capable of repaying the high level of debt that it carried following bankruptcy reorganization? How strong was the reorganized firm? Had Comerci truly left its problems behind in bankruptcy court, or would history repeat itself? How could Comerci raise funds needed for growth – through additional debt? Though asset sales? Research methodology This case was researched using publicly available information, including the company's financial statements, bankruptcy filings, news stories about the bankruptcy and financial data bases (e.g. ISI Emerging Markets, Economática, Capital IQ, etc.) to obtain information about the competitors and from financial analysts. Relevant courses and levels This case is intended for advanced undergraduate or MBA electives in finance. Students should have a basic understanding of valuation and financing before attempting this case. The case could also be used in a corporate finance or banking class to illustrate bankruptcy and credit risk, or could be used in an international business class to illustrate the differences between USA and international bankruptcies.

FDI (foreign direct investment) of Swedbank in Ukraine is an example of unsuccessful investment in transition economies. The Case Study is presented in relation with Swedbank’s internationalization strategy and rapidly changing investment environment in transition economies and globally. Learning objectives include helping students to develop analytical skills in order to understand how political, economic, financial and social factors effect internalization strategy through FDI. The Case Study should help students to understand the importance of an appropriate long-term strategy of a firm entering transition economies, understand the investment environment of a foreign country and choose the best course of action for a distressed firm considering alternative scenarios. Lessons learned from the Case Study can be beneficial for students studying international business, but also for future decision-makers that would be acting in complex environments under rapidly changing situations. The author developed the Case from secondary sources: Swedbank’s annual reports and press-releases, information published by multilateral organizations and government agencies, research from investment banking houses and reputable news agencies. This Case is written solely for educational purposes and is not intended to analyze successful or unsuccessful internalization strategy through FDI in transition economies.

The Rukwa Rift lies between Lakes Tanganyika and Malawi in the western limb of the East Africa rift system. Because little was known about the rift's structure or hydrocarbon potential, Petro‐Canada International Assistance Corporation completed a 2150 station gravity survey as part of an assistance program for the Tanzanian Petroleum Development Corporation. The survey covered an area 165 km × 375 km, which included the entire rift valley and lake plus regional control on either side. Outcrops of Carboniferous‐Triassic conglomerate, coal, and limestone, as well as Cretaceous sandstone, occur along the southwestern edge of the rift. The younger section is presumed to be dominated by alluvial material. In the absence of any density control, the gravity data were modeled using clastic sedimentary fill, which yields minimum depth estimates. Alternate models with more shale in the section have also been tried. A rift model with two shale pulses corresponding to interrift times yielded maximum depths of about 10 km. An all‐shale model failed to converge because of insufficient mass contrast. The final interpretation was based on the gravity models and aeromagnetic data acquired in an earlier survey. The Rukwa Rift is a half‐graben bounded to the northeast by a listric normal fault (strike 130 degrees) with 7 km of throw. A younger fault system forms the southwestern side of the valley and creates a major structure with 3 km of relief. The divergent strike of the younger faulting appears to be related in some way to right lateral shear in the Rukwa region. The Rukwa Rift has all the elements needed to be considered highly prospective for oil from a lacustrine source. There is strong evidence to suggest that the history of the Rukwa Rift is long and complex, providing ample opportunity for establishment of such an environment. The analogy of the Sudan rifts and the reports of oil seeps elsewhere in the western rift system support such a hypothesis. All the other elements of structure, reservoir, seal, maturation, and timing can be reasonably inferred from the available information. Of course, seismic and drilling are needed to provide firm stratigraphic control to confirm these inferences.

ABSTRACT Multinational firms frequently outsource the manufacturing of their products to factories in less-developed countries to take advantage of much lower labor costs. A tragic disaster occurred in Bangladesh in April 2013 when a clothing factory building collapsed, killing more than 1,000 workers. Subsequently, textile companies in the U.S. and in Europe that outsource their manufacturing in Bangladesh had to decide whether to commit to better working conditions by signing one of two worker safety agreements (WSAs) born from the aftermath of the tragedy. Although many firms signed one of these agreements, many more did not. This study explores the relationship between an actual corporate social responsibility (CSR) commitment and firm performance using a sample of companies that signed one of the WSAs after the Bangladesh disaster and those that did not. The results suggest that the decision to sign is positively associated with social visibility, prior CSR performance, and impact in stock price after the tragedy. Regarding subsequent performance, investors favorably responded to the news of firms' signing the WSA agreement.

PurposeThis paper addresses the puzzle of why the same workplace employment relations regimes can lead to different performances and why different regimes can produce the same performance. It is argued that the incidence of mutual, and not necessarily unilateral, trust between the employee representation and the management accounts for these differences, as mutual trust fosters information sharing and helps to strike deals that are mutually beneficial. Against the background that the institutional and organizational characteristics of some workplace employment relations regimes also constitutes information sharing and joint decision making, the author further argues that mutual trust is a functional equivalent.Design/methodology/approachMethodologically, the article is international and cross-country comparative in nature and conducted on the basis of a unique, large and transnational comparable data set of the employment relationship at firm level in eleven countries.FindingsOur results show that strong mutual trust is associated with significantly higher incidences of increases in firm profitability, regardless of the workplace employment relations regime in which the firms are embedded.Practical implicationsThe results clearly indicate that trust between the employee representation and the management works as a functional equivalent to performance enhancing employment relations regimes. Therefore, some policy recommendations and imposed institutional reforms of employment relations regimes by the IMF and the European Central Bank in some countries are sub-optimal and might not have been necessary. Trust building initiatives between the employee representation and the management are therefore an alternative, which is less conflictual and could have the same effect on the performance of firms.Originality/valuePrevious analyses on differences in the performance effects of workplace employment relations regime concentrated almost exclusively on institutional factors. Factors that account for differences in the functioning of regimes such as in particular the role of trust were not considered before. Against this background, the originality of this analysis is that it clearly shows that it is not sufficient to consider only the institutional and organizational structure of regimes, but it is essential for a better understanding of the effects of the employment relationship to consider factors which account for the functioning of the regimes such as, in particular, trust.

Purpose This study aims to investigate the effect of media coverage, negative media tone and the interaction between negative media tone and independent non-executive directors (INEDs) on strategic information disclosure (SD). Design/methodology/approach The authors rely on media agenda-setting theory, agency theory and a panel data set of 52 UAE non-financial listed firms from 2009 to 2016. Multivariate regressions examine the effect of media coverage and negative media tone on SD and examine the moderation of INEDs on the effect of negative media tone on SD while controlling for firm size, board size, board meeting frequency, firm profitability and leverage. Findings The results show that negative media tone has a negative effect on SD, and there is no association between media coverage and SD. The results show that INEDs are negatively associated with SD and have a negative moderating effect on the negative media tone–SD relationship. INEDs follow a conservative approach, encouraging less SD when their firms face negative media tone. Research limitations/implications The authors measured media coverage and negative media tone by the number of news articles. In the robustness test, they use media tone score. They measured SD using an index that captures firm strategy dimensions. Though these measures are inherently subjective, they were used to measure variation in media coverage, media tone and SD across listed UAE non-financial firms. Mitigation of subjectivity was achieved through rigorous cross-checking measurements. Practical implications Findings assist UAE policymakers and the international business community with insights related to articulation of media to SD and INEDs’ role in moderating the effect of media on SD. Originality/value To the authors’ knowledge, this is the first study that combines media agenda-setting theory with agency theory and SD in an emerging market economy (the UAE). The study is also among the few studies that illustrate the possible role of INEDs under different media tones in emerging markets.

Abstract On 31 January 1950 British actress Jean Simmons turned twenty-one. At the time Simmons was one of the most popular and successful British film stars, voted actress of the year in the Daily Mail National Film awards the same year. Simmons twenty-first birthday was therefore viewed as international news. However, rather than choosing a birthday wardrobe from a haute couturier, as a film star of her status undeniably could have, Simmons chose garments designed by London ready-to-wear firm Frederick Starke.This article questions why Simmons chose a wardrobe from Starke and investigates how these garments helped Simmons to project a certain image. It also considers how the outfits selected were later used as Simmons' costume in the Ealing Studios crime drama Cage of Gold (Dearden, 1950). The film credits Anthony Mendleson, Ealing Studios resident designer and wardrobe supervisor, for the costumes. However Starke designed the majority of the clothes worn by Simmons in the film. This is an intriguing example whereby Simmons' garments are, at once, both her personal clothing and her costume.

Marketers of digital content such as books, news, video, music, and mobile games often provide free samples of the content for consumers to try out before buying the product or signing up for subscription. Similarly, firms selling software (such as software as a service), and cloud-based services may provide free limited-version products or a free-trial period for the service. In this article, the authors focus on how firms should design such free samples to maximize their revenue. They examine in an analytical setting how quality and other design parameters of the sample affect profit generated by the product or service. They then test the normative implications in the application context of a book publisher that provides free samples for the books it sells online. Using a field experiment, the authors vary the design parameters of the sample and, based on the demand estimates, provide recommendations for the firm on the optimal design of the sample. They find that, rather than being substitutes, free samples of the entire content can be very effective in increasing revenues. Furthermore, they find that higher-quality samples have a greater impact on the sales of popular content. This has important implications for freemium and free-trial business models.

Purpose The asymmetric effect of conservatism on earnings and its other components serves as a contrivance to incorporate transparency and timeliness in financial reporting. This study aims to explore cash flow-return association, which provides insight into the accruals’ contribution that traverses through conservatism-earnings persistence liaison and its associated effects on stock returns. Design/methodology/approach The study used asymmetric timeliness (AT) model and two firm-year measures, namely, C-Score and conservatism ratio, to capture conservatism. The firm-year measures of conservatism, in addition to the AT measure, facilitate a better understanding of the persistence of reported earnings that branch out the study from the existing literature. Further, the study used panel regression analysis to evaluate the timeliness and persistence of earnings under the conservative approach with a sample of Indian corporate data from 2000 to 2017. Findings The findings of the study reveal that conservative earnings are less persistent and the accruals recognize bad news timelier than good news. The unfavorable change in earnings shows a lower earnings response coefficient in contrast to favorable earnings variations. However, the appropriate loss recognition nature of conservative reporting has little or no influence on stock returns in an emerging market such as India. Research limitations/implications Accounting conservatism is a captivating feature accounting information, especially pertinent to many decision-makers. Thus, the study has implications for the investors while evaluating the adverse and positive changes in accounting earnings; also, the results are helpful for the standard setters in ongoing debate related to accounting conservatism vs fair evaluation. The present study focuses exclusively on ex-post conservatism, while the ex post and ex ante conservatism are having a significant role in accounting practices. Future research on the differential effects of ex post and ex ante conservatism on accounting information in an emerging market, is worth promising. Originality/value The study reveals the first Indian evidence on accounting conservatism and earnings persistence relationship, which would bring a different dimension to investors’ perception in evaluating the characteristic variations of reported earnings. The findings add value to the accounting standard setters concerning the asymmetric verification as Indian Accounting standards are on the verge of convergence with International Financial Reporting Standards (IFRS).

Two California cosmetic surgeons are in the news. The first is Tony Ryan, a general plastic surgeon from Santa Barbara. We meet Tony and his wife, Montana, at the Little Nell Hotel in Aspen, Colo, where they are on a working ski vacation. Tony is the fictional creation of Mark Berman, Santa Monica cosmetic surgeon and chairman of the Academy's credentials committee. Mark's book, titled Substance of Abuse, is about Tony assuming the job of leading the country's first experimental legal drug program in Santa Barbara. It involves a murder, political corruption, a smart wife, and international travel and intrigue. It is reminiscent of John Grisham's novel The Firm. The underlying theme of the work is libertarian and points out the failure of the war on drugs. Illegal drugs cost us tens of billions of dollars a year because users commit crimes in order to keep buying, causing police and prosecutors to expend their time and resources chasing drug users instead of real criminals. Moreover, our overflowing prisons are full of criminals convicted of so-called victimless crimes, and those incarcerated drug criminals are taken out of the economy, often leaving their families wards of the state. Perhaps someday drug usage will be decriminalized and an effective system of rehabilitation will be in its place.

The Movement Control Order (MCO) not only restricts movement of human being, it also reduces firms’ financial profits and brings significant impact to stock returns. The objective of this study is to examine the relation between Malaysian stock market returns and variables related to the novel Coronavirus (COVID-19) pandemic outbreak. The FTSE Bursa Malaysia KLCI Index and eight selected main indices from 2 January 2020 to April 30, 2020, which includes the first three MCOs, are considered in this study. The results show that daily new confirmed COVID-19 cases and deaths had negative but insignificant impact on the returns on indices. Interestingly, MCO had significant and positive impact on all the indices’ returns while oversea financial risks had negative impact on these returns. Furthermore, it is found that the degree of impacts of MCO and oversea financial risks varied positively with the firm size of the indices’ constituent companies. China’s decision on unchanged loan prime rate on the 20 February 2020 was a favorable news to the Malaysia stock markets as indicated by the positive returns on all the indices. Similarly, the degree of impact of the China interest policy also varied positively with the firms’ characteristics. These findings are useful for investors in the Bursa Malaysia to manage their investment portfolios based on their appetites for risk.

A nascent literature in finance and accounting on tail risk in individual stock returns concludes that bad news hoarding by corporate managers engenders sudden, extreme crashes in a firm’s stock price when the bad news is eventually made public. This literature finds that firm-specific crash risk is higher among firms with more severe asymmetric information and agency problems. A hitherto disjointed literature spanning the fields of international business, finance, and accounting suggests that geographic dispersion in a firm’s operations, and especially dispersion across different countries, gives rise to organizational complexities and greater costs of monitoring that can exacerbate asymmetric information and agency problems. Motivated by the confluence of arguments and findings from these two strands of literature, this paper examines whether stock price crash risk is higher among multinational firms than domestic firms. Using a large sample of U.S. headquartered firms during 1987-2011, we find robust evidence that multinational firms are significantly more likely to crash than domestic firms. Moreover, we show that the difference in crash risk between multinational and domestic firms is most acute among firms with weaker corporate governance mechanisms, including weaker shareholder rights, less independent boards, and less stable institutional ownership. Our analysis indicates that stronger monitoring from each of these three governance mechanisms significantly attenuates the positive relation between crash risk and multinationality. Our findings are robust to the use of alternative measures of crash risk and to controlling for known determinants of crash risk identified in prior studies. Our study offers new insights that should hold value for scholars and market participants interested in understanding the implications of heighted agency problems that multinational firms are likely to encounter and scholars and market participants interested in developing models that more accurately predict tail risk in the equity returns of individual firms.

Purpose The extant research on early internationalizing ventures focuses primarily on these ventures’ start-up phase or their initial internationalization. Scarce attention is paid to how these ventures grow, if at all, beyond their start-up phase or initial internationalization phase. This paper aims to explore how international new ventures transition from the internationalizing phase to the phase of being international, and whether they actually made it to that phase. Understanding whether and how these ventures reach their “made-it” point would contribute to our understanding of how early internationalization affects a venture’s survival and growth. In this, the authors draw on the dynamic capability theory of the firm. Design/methodology/approach Given the scarcity of theoretical understanding and empirical evidence in this substantive area of research, the authors adopted a multiple case study methodology for the purpose of theory building. Following an intensity sampling strategy, they purposefully selected information-rich, but not extreme two-case companies. The authors initially collected unobtrusive data in the form of running records and mass-media news reports from the inception of the case companies. They then conducted in-depth interviews with key decision makers of the case companies, namely, their co-founders and CEOs. Critical incident technique guidelines for data analysis were employed. Findings Grounded in data, the following constructs emerged related to value creation: strategic experimentation, gestalt tensions and legitimacy lies. Entrepreneurs experiment with and reconfigure their venture at several levels: goal (vision), decision (strategic) and behavioral (tactical) levels of the organizational gestalt to reach a threshold level of practiced activity. Entrepreneurs’ strategic experimentation efforts are fueled by tensions that exist at these three levels of the organizational gestalt. During this experimentation process, entrepreneurs may tell legitimacy lies to legitimate their ventures in the eyes of their stakeholders. Research limitations/implications Given the instrument the authors used to explore the issues and concerns identified above, the results are limited in scope. However, a number of questions and conjectures are put forward to guide future research in this currently under-researched area of international entrepreneurship. The authors have also suggested using the concept of turning point in future research to advance the understanding of the dynamic capability view of international new ventures. Practical implications Understanding whether and how international new ventures reach their made-it points would contribute to the understanding of how early internationalization affects international new ventures’ organizational survival and growth. Originality/value The authors have put forward the concept of the made-it point to aid international entrepreneurship researchers to investigate the continued growth, evolutionary patterns and the organizational survival of international new ventures.

Purpose The conclusions on the importance of corporate response timing to a crisis have remained inconsistent. Some studies suggest that active response may reduce negative impacts, whereas managers argue that issuing official response frustrates stakeholders and thus decreases the firm value. The purpose of this paper is to investigate the role of external media in the response timing strategy and the consequent stock market reaction. Design/methodology/approach Based on 130 corporate crises that befell publicly listed firms in China from 2007 to 2014, this paper uses the Baidu News Search Engine and Chinese Lexical Analysis System to construct the variables of the media characteristics. A structural equation model is established to test the hypotheses. Findings The results of this paper suggest that media coverage drives response timing after a crisis. Although an official response is a burden for firms, the timing strategy has multidimensional benefits including effectively alleviating negative effects (defined as buffering effects) and repairing the market (defined as restoring effects). Moreover, the buffering effects of response timing are stronger when completeness of response is low. Originality/value This study mainly contributes to crisis communication literature by introducing the role of media in prompting managers to make timing decisions. The findings of this study provide empirical support for the importance of timing response strategy.

This article briefly diagnoses the rapid growth of the production of soya in Argentina over the last twelve years, taking into account the geographic areas of expansion, as well as the social, economic, environmental and political consequences, and placing this phenomenon in the broader international context. Official statistics, bibliographic sources, and news reporting have been used in preparing the article. Also field work in rural areas has been conducted, including participation in several social events along with interviews with key informants. In Argentina, the nineties were synonymous with privatization, the regressive redistribution of wealth, the concentration of economic and political power, the demise of the railway network, external indebtedness, impoverishment, unemployment, de-industrialization and re-primarization of the economy, among many others plagues. Regarding the latter, the return to the primary economy includes more agriculture than livestock in rural production, with a 50% of the cultivated area occupied by soya crops. The critical point for the consolidation of the fast expansion of soya in the country was the 1996/97 campaign. During this campaign, the first transgenic soya seeds tolerant to glyphosate were released, along with the spread of direct sowing. The remarkable expansion of the area under cultivation made Argentina the third biggest world producer of grains after the U.S. and Brazil, and the world's leading exporter of soy oil. Uncontrolled expansion of soya crops has generated huge profits for transnational business and even for medium and small farmers, as well as those with interests in financial speculation ( seed pools). At the same time, it has increased unemployment and an exodus to the cities, where the declining industrial sector cannot absorb the surplus rural population. Besides, it has produced soil deterioration, watershed damage, destruction of fauna and large forests, and so on. Furthermore, the shift to soya production by many rural enterprises has resulted in a dramatic reduction of the production of food stuffs to meet domestic needs. In March this year the government announced an increase in export taxes, affecting principally soya exports. The interest groups affected complained and launched a strike, including blocking of highways and disrupting the normal supply of the domestic market (this resulting in food stuff shortages in the cities and increasing speculation about drastic economic instability). Rural institutions representing diverse actors that formerly had conflicting interests, united to launch this strike, which has deeply affected public confidence in the government. The conflict expressed rural entrepreneurs’ interests rather than the needs of rural workers, and it has worsened the economic and political stability characterizing the country in the years following the 2001–2002 crisis. Debate on this issue filled the front pages of the newspapers for many months, but it never dealt with issues of the working conditions of rural labor, the need for the production of food to alleviate hunger, solutions to the problem of unemployment, or the future of the soils and destruction of wildlife. Rather, with the large majority of media supporting rural institutions’ interests, the logic that prevailed was that of the right to property. In face of this, a small segment of the society endorses the need to socialize the means of production to achieve food sovereignty, to improve living conditions for workers, and secure the proper management of natural resources. Only these people raised the issue of socialization of the means of production as the only way to oppose not only the expansion of soya crops, but also capital which, as asserted by Marx, strikes at the same time against earth and humans, which in the end are the real bases of production.

The National Association of African American Studies and Affiliates[National Association of African American Studies, National Associationof Hispanic and Latino Studies, National Association of Native AmericanStudies and Affiliates, International Association of Asian Studies] held itsannual conference in Baton Rouge, Louisiana, on 13-18 February 2006.The conference served as host to over 580 college and university professors,as well as members of professional organizations, from across theUnited States and several foreign countries. In addition to the speakerswho addressed issues related to the African-American, Hispanic/Latino,Asian and Native American experience, there were more than 1,200 otherattendees.A sampling of institutions represented included the University ofTennessee, six institutions from the California State system, HamptonUniversity, Yale University, Quinnipiac University, Howard University,George Mason University, Wesleyan University, University of Kansas, andPurdue University. Additional participants and attendees came from theUnited Arab Emirates University, the Sequoyah Research Center, the Centerfor the Christian-Muslim Engagement for Peace and Justice, Cubanet News,Stewart Associates, Erudite RPC Firm, the Economic Policy Institute, andImani Publications.The 2006 conference also involved the Islamic and Middle EasternStudies Association (IMESA). The participation from IMESA marks the firsttime this organization has held its meeting in conjunction with another organization.There were several outstanding papers presented by IMESA participants.Dr. Pisamai Vogulaar (The Center of Christian-Muslim Engagementfor Peace and Justice) presented a paper entitled “Living as MuslimMinorities: ACase Study of Thai Sunni Muslims in Bangkok and Arab SunniMuslims in Chicago.” The focus of this paper was of interest to many of theconference attendees. Other outstanding presentations included “FethullahGullen and Islam in the Contemporary World” by Dr. Yetkin Yildirin (TheInstitute of Interfaith Dialog), “That Which May Not Be Spoken: HomoeroticDesire in the Writings of Ismat Chugtai and Alifa Rifaat” by Dr. Indrani Mitra(St. Mary’s University), and “Seek What Brings Benefit: A Discussion ofContemporary Issues Involving Maslaha and a Few Theological Premises inIts Favor” by Mary C. Moorman (Yale University) ...

Subject area Economics, entrepreneurship, pricing and marketing strategy, print industry in Pakistan. Study level/applicability Undergraduate and first-year graduate level. Case overview The main theme of the case revolves around decision-making by the publisher, Bilal Lakhani, as he operates in conditions of an oligopolistic market. The case focuses on the set-up of a major English-language newspaper, The Express Tribune, in conjunction with the internationally branded and well-regarded International Herald Tribune by a well-known business group of Pakistan. The group already has a major Urdu newspaper, which has been operational for 15 years, and three television channels, as well as a host of other non-media-related businesses. The case tries to go behind the reasons for setting up an English-language newspaper in a market which already has at least five major existing ones and where literacy is not that widespread. Also, experience in much of the rest of the world would suggest that newspapers – i.e. the print media – are in decline, especially because of the rise of the Internet and social media as means for providing news, information and entertainment. The case is set in Karachi, Pakistan's media capital and, in particular, in an organization that has been involved in the business of media for several years. It currently runs the country's second most-circulated Urdu newspaper, Daily Express. Specifically, the time period is three weeks after the paper, The Express Tribune, was launched into a market with a few competitors and high brand loyalty for existing competitors. The publisher of the paper, Bilal Lakhani, is questioning his pricing decision right after the launch of the paper and there are a series of reasons he is looking into on how he set the original price and why should he reduce the price of the paper now. Expected learning outcomes Students should be able to see, understand and analyze: challenges faced by entrepreneurs of starting an initiative which has a largely unreliable and untested audience; the extent of interdependence in an oligopolistic industry and how it influences the current and future decision-makings of an entrepreneur or any other firm for that matter, especially in a developing economy; the personnel, financial production and regulation issues involved in setting up assembly/ delivery systems that deliver a product for mass use, i.e. a newspaper; and the pricing and marketing strategies involved in the launch and subsequent successful operation of a product, in this case, a newspaper. Supplementary materials Teaching notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes.

Purpose This study provided a unique opportunity to analyze five generations of a small but continually evolving family-owned media organization with multiple media outlets operating across delivery platforms. The purpose of this paper is to identify variables that contributed to entrepreneurship and sustainability, holding the family business intact for more than 100 years. Design/methodology/approach This study used organizational ecology in a qualitative case study to interview entrepreneurs from three of five generations. Additionally, current employees, family and friends, along with letters, cards, published articles and financial data were included in the analysis. Entrepreneurial themes based on organizational ecology were identified including variation, selection, retention, as well as values, innovation, service and adaptability. Findings The company in this study began with the purchase of newspapers and start-up of a news service in 1904. By the third generation, entrepreneurial initiatives included additional newspapers, as well as a television start-up. In the fourth and fifth generations, the company evolved into what the family termed a “media development company” with a mix of revenue platforms including electronic newspapers, websites, radio stations, live events and syndicated programs. Research limitations/implications Limitations included sample size and focus on the perspectives of family members. More research is needed to identify the struggles within the family media firm and the more troubling aspects of a family company as indicated in the literature and their possible downside to both employees and family members who work for the short term or long haul in smaller, family-owned companies. Practical implications Sustainability of family-owned media organizations occurred through a balance of entrepreneurial activities and family values. Revenue flows resulted from adapting business models from selling advertising in local newspapers to providing funding and other support to local businesses gaining footholds. Market innovation, risk and community-minded solutions resulted in survival through stages of variation, selection and retention. Social implications For family media companies to thrive, entrepreneurship and adaptability are key. Significant contributions to theory from this study indicated organizational ecology is a useful tool in analyzing the evolution of a media company through stages of variation, selection and retention. After almost 80 years of operation in the retention stage, the company started over in the variation stage with new products including radio, internet, live events and community business ventures. Timely diversification was key as media and community landscapes changed. Originality/value Unique findings indicated sustainability came through a family-oriented approach to business that carried on throughout generations: a long-term view with a commitment to family values, the promotion of entrepreneurial opportunities for family and non-family members and an external focus as media development companies on the success of local businesses and communities in which they operated.

PurposeAs the world grapples with the pervasive effects of the coronavirus pandemic, a notable disconnect has emerged in the public's understanding of scientific and medical research. Particularly, the travel industry has become unquestionably vulnerable amid the COVID-19 outbreak; this pandemic has interrupted the industry's operations with devastating economic consequences. This paper aims to highlight the importance of deconstructing barriers between medical science and public awareness related to COVID-19, taking tourism as a case in point. It also discusses the role of interdisciplinary research in facilitating the tourism and hospitality industry's recovery and alleviating tourists' uncertainties in the wake of COVID-19.Design/methodology/approachThis paper offers a synthesis of news coverage from several media outlets, framed within the literature on knowledge transformation across disciplines. This framing focuses on the medical sciences (e.g. public health) and social sciences (e.g. tourism management) to identify gaps between medical scientific knowledge and public awareness in the context of COVID-19. The authors' experience in public health and tourism management further demonstrates a missing link between academic research and the information made available in public health and everyday settings. A potential research agenda is proposed accordingly.FindingsThis paper summarizes how salient issues related to knowledge transfer can become intensified during a global pandemic, such as medical research not being communicated in plain language, which leads some citizens to feel apathetic about findings. Reporting on the prevalence and anticipated consequences of disease outbreaks can hence be difficult, especially early in the development of diseases such as COVID-19.Research limitations/implicationsBy assuming a cross-disciplinary perspective on medical/health and social science research, this paper encourages academic and practical collaboration to bring medical research to the masses. This paper also outlines several research directions to promote public health, safety and sustainability through tourism.Practical implicationsThis paper highlights that it is essential for medical knowledge to be disseminated in a manner that promotes public understanding. The tourism and hospitality industry can benefit from an essential understanding of medical findings, particularly during this pandemic. Without a firm grasp on COVID-19's origins and treatment, the tourism and hospitality industry will likely struggle to recover from this catastrophe.Social implicationsTaking COVID-19 as a case in point, this study advocates leveraging the strengths of disparate domains to bring medical findings to a wider audience and showcase cutting-edge developments for the greater good. This study also emphasizes the importance of engaging the general public in reputable scientific research findings to increase public awareness in a professional and accurate manner.Originality/valueThis paper presents a unique and critical discussion of the gap between medical science knowledge and public awareness, as well as its implications for tourism and hospitality recovery after COVID-19, with a focus on applying medical scientific knowledge to post-pandemic industry recovery.

About thirty-five years ago the trend of investing in flagship stores in the fashion and luxury sectors started, and has not stopped even since the last economic crisis. Recently, flagship stores have expanded into new sectors. There is an increased interest in flagship stores; but until now, they have received little attention in academic research. Published papers are mainly related to the fields of luxury shopping and internationalization studies. Nowadays, the term “flagship store” is ambiguous; it has different meanings. A flagship brand store is, in general terms, the most important, expensive, and representative store of the brand. It has to show the full range of products and services offered. Usually it is the largest store, in the most prestigious location, and adopts original store design solutions; they offer new facilities, and a very high service level. Moreover, flagship designers are famous and prestigious architects; (“Signature” architects, or “Archistars”) and the aim is to create iconic buildings. The store design solutions are different from other mono-brand stores or franchisee outlets of the company. Academic research until recent years has overlooked studying the trend of the main luxury and fashion international companies opening flagship stores; which are the most expensive type of retail stores to own, nevertheless a number of questions remain. The purposes of this paper are (1) to consider the evolution of the role of the main types of  flagship stores, (2) to establish whether flagship stores constitute a marketing innovation, (3) to discuss factors pushing firms to develop flagship stores and finally, (4) to assess implications for management. In order to answer to our research questions, the study adopts a qualitative approach, in the belief that this type of research is consistent with the research questions. Particularly, we adopted two research methods: interviews and cases studies. We collected interviews with store designers and entrepreneurs. Finally, some information was also collected from secondary sources such as web sites or company news. Our study provides relevant information for marketing managers considering the cost of investing in flagship stores. Vertical branding and new flagship brand stores are becoming increasingly widespread among different firms and sectors, and are bringing to the forefront a requirement for new skills. Particularly in the store design phase, where firms need to be able to take part in constructive dialogue with a wide variety of professional profiles like architects, internal designers, and visual merchandisers. They need a new approach to decoding and displaying the primary values of a brand through innovative store design solutions and sales points, which should be inspired by the communication and entertainment industries. Flagship brand stores should be designed and run to be unique unrepeatable places, able to enhance brand image and provide animation and entertainment value to the brand. Furthermore, flagship store success depends on the firm’s ability to integrate interdisciplinary issues and commercial and artistic-creative communication.

A mere two years ago International Sports Studies was celebrating its fortieth anniversary. At that time, at the beginning of 2018, your editor was able to reflect on the journey of our professional association – the International Society for Comparative Physical Education and Sport (ISCPES). It started with a small, cohesive, and optimistic group of physical education scholars from Europe and North America interested in working across boundaries and exploring new international horizons. The group that met in Borovets in 2017 on the eve of the society’s fortieth anniversary, represented a wider range of origins. They were also more circumspect, tempered by their experience in what had become, four decades later, a very much more complex competitive and fragmented professional environment. Such a comparison seems almost to have reflected a common journey, from the hope and optimism of youth to entry into the challenges and responsibilities of mid adulthood. Yet from the perspective of contemporary history, these last four decades seem generally to be viewed as having been a time of unbroken human progress. Certainly, this is a defensible view when we use technological and economic progress as the criterion. The nation of Indonesia provides an excellent example of progress by these measures. The world’s 10th largest economy in terms of purchasing power parity, and a member of the G-20. Furthermore, Indonesia has made enormous gains in poverty reduction, cutting the poverty rate by more than half since 1999, to 9.78% in 2020. Prior to the COVID-19 crisis, Indonesia was able to maintain a consistent economic growth, recently qualifying the country to reach upper middle-income status. The World Bank (www.worldbank.org/en/country/indonesia/overview) Indeed, when we look at the economic growth charts of the world over the last century, without exception they resemble a J curve with growth over the last half century being particularly rapid. But, from time to time, we need to be reminded that human existence is rather like a coin. Looking at the top side provides one picture but then, when we turn the coin over, a totally different view presents itself. From time to time, pictures find their way to our television screens that remind us that real challenges of poverty are still faced by many today. Similarly, though we have talked about seventyfive years of peace, the other side of the coin reveals that around the globe armed conflict has continued remorselessly since the official ending of World War II in September 2nd 1945. A visit to Wikipedia and its list of ongoing conflicts in the world will inform the casual reader, that in the current or past calendar year there have been over 10,000 deaths related to four major wars – in Afghanistan, the Yemen, Syria and Mexico. In addition, eleven wars, eighteen ‘minor conflicts’ and fifteen ‘skirmishes’ have added to death and misery for many around the world. I make these points in case those of us who are fortunate enough to live in relatively stable, safe and prosperous environments, might be tempted to become complacent and forget how much always needs to be done to increase the welfare of our brothers and sisters throughout the world. Humankind’s end of decade report needs to remind us that, if our progress has generally been steady, there remains area where we still need to improve. Further we need to remember that wealth and material prosperity are not the sole criteria for human well-being and happiness. Quality of life needs to be measured by much more than Gross Domestic Product alone. Such thoughts now seem to be suddenly highlighted, as we move into another new decade. For virtually worldwide, it seems to as if the coin has suddenly been flipped. In 2018 we were looking forward with different expectations to those that we now have since the start of 2020. At a time when the world has never been more interconnected, we have been forcibly reminded that with that connectedness comes a level of risk. There is a belief by some, that interconnectedness provides some sort of protection against war and conflict and that trade relationships provide a rationale for peaceful cooperation between the peoples of the world. However, it is that very interconnectedness that today leaves us at greater risk to the ravages of the latest pandemic to strike the world. Countries that have managed the CoVid19 virus most successfully, have been those like New Zealand that have isolated themselves from others and restricted movements and interactions both across and within borders. Consequently, people in many different settings find themselves in lockdown and working from home. This sudden restriction on interactions and movement, has provided a unique opportunity for reflection by many. Stepping back from the frantic pace of twenty first century lifestyle, though it has inevitably caused much concern economically for many, has given others a chance to rediscover simpler pleasures of previous ages. Pleasures such as the unhurried company of family and friends and the chance to replace crowded commuting with leisurely walks around the local neighbourhood. So, it has been that a number of voices have been pointing to this as a unique opportunity to re-set our careers and our lifestyles. With this comes a chance to re-examine core values and in particular question some of the drivers behind the endlessly busy and often frentic approach to life that characterises our modern fast changing world, with its ceaseless demand for us all to ‘keep up’ and ‘get ahead’. It is then in a spirit of reset that I am pleased to introduce International Sports Studies’ first special supplement. We take very seriously our mission of connecting physical education and sport professionals around the world. It has made us very conscious of the dangers of adopting a view on the world that is centred in the familiar and our own back yards. Yet we all tend to slip into a view of life that seems to be driven and reinforced by the big media and the loudest voices in an interconnected world. Individuals chasing the dream of celebrity are easily recognisable from New Delhi to Anchorage or from Nairobi to Sapporo. We seem forced to listen to them and their ideas even when we wish to disassociate from them. In sport too it seems that in all corners of the world, the superstars of football Messi, Ronaldo, Pogba, Bale are known wherever the game is played. News and influence too often seem to flow from the places where these same celebrities of screen and sporting fields are based. It is the streets and recreation areas of Hollywood, Madrid and Turin, all comparatively restricted areas of the globe, which are continuously brought to us all by the ubiquitous screens. Some of the latest figures from the ITU, the Telecommunication Development Sector a specialised United Nations agency, have estimated that at the end of 2019, 53.6 per cent of the global population, or 4.1 billion people, were using the Internet (ITU, 2020). It is a figure that continues to increase steadily as does the stretch of its influence. The motivation behind this supplement focusing on studies in physical education and sport within Indonesia, can be found in the origins of comparative physical education and sport study. We can all learn by comparison with others and their approaches to both similar and unique problems and challenges. It does not however always make sense to limit ourselves to matching our situations with others for the sole purpose of making scholarly comparisons. Often it makes more sense simply to visit colleagues in another setting and examine in some depth their concerns and practices. Such studies are called area studies and they involve illuminating what is occurring in different settings in order to increase our own understanding and awareness. Indonesia provides a special and important starting point for just such a study. Located off the coast of mainland Southeast Asia in the Indian and Pacific oceans, it is an archipelago that lies across the Equator and spans a distance equivalent to one-eighth of the Earth’s circumference. It is the world’s fourth largest country in terms of population (Legge, 2020). It is a nation that appears modest in its demeanour and that of its people yet has much to offer the rest of us, especially in terms of our common professional interest. The purpose of volume 42e is to offer an opportunity for our colleagues in Indonesia to speak to the global community and for the global community to learn a little more about the work of their colleagues in Indonesia. It is the first of what is intended to be a series within the tradition of comparative studies. It has been a great pleasure and privilege to work with a special editorial team from Indonesia in this project. Their details are briefly provided below. I commend to you the work of this representative group of physical education and sports scholars. I invite you to join us in lifting our heads above our own parapets and resetting our own perspectives by reaching out and listening to a wider circle of colleagues from around the world. We may not be able to travel to meet each other at this time but we can still interact and share, as our responsibility as academics and professionals requires us to do. John Saunders Brisbane, November 2020 References ITU (2020) Statistics. Accessed from https://www.itu.int/en/ITU-D/Statistics? Legge, J. D. (2020) Indonesia. Chicago: Encyclopedia Britannica. Accessed from https://www.britannica.com/place/Indonesia

This paper seeks to explore environmental, social and governance issues arising from investment in special economic zones (SEZs) in the mainland Southeast Asian region through a mixture of thick analytical description and multiple case study approach. All the states studied here have embraced the SEZ approach as it offers rapid economic development without any implications for the political settlement, which is considered beneficial by current administrations. Particular emphasis is placed on environmental, social and governance issues in the region covered and some complex issues that have emerged. It is shown that the situation is complex and continually evolving and that there are limited constraints on the actions of corporations. Consequently, there is an opportunity for investors to set precedents and protocols on a progressive basis. 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Japanese Biotech Firm Develops Cheaper, More Efficient Biochip. TCM Chain Clinics to be Established in Hong Kong. General Biotech Co. Wins Taiwan's National Biotech Prize. India's Wockhardt to Double Turnover from Biotech Products. Moscow-based Firm Acquires Tata Group's Pharma Sector. Biotech International Further Acquires Subsidiary. New Medical Portal Launched in Singapore.

ES Cell International Opens Stem Cell R&D Facility. Meditech Grants LEI Exclusive Worldwide Rights. Mimotopes and Baker Institute Sign Letter of Intent. US-based DiaSys Reports Additional Sales to China. International Clinical Trial Firm Teams up with Hong Kong Software Developer. TeleVital Launches Electronic Patient Care System in India. Natco Pharma Gets TGA Nod for Manufacturing Plant. Bharat Biotech to Unveil Streptokinase. Sanyo Electric Biomedical and BioCrystal Collaborates on Distribution of OptiCell. Goodman to Acquire Avantec Vascular of the US. Fujisawa to Launch New CalciChew Products. BioEnterprise Asia CEO on How to Finance Biotechnology. Taiwan Biowell Unveils World's First DNA Anti-counterfeit Label. Thai Firm Releases AIDS Vaccine Clinical Data.

Progen Secures Manufacturing Contract with US Biotech Firm. Metabolic to Conduct Phase 2A Human Trial of Oral Obesity Drug. Cytopia in Prestigious International Collaboration. Autogen's eXpress Technology Platform to be Used by Sequenom. Novartis Reaches Sales of US$128 Million in China. Fujikura Kasei and Nagase to Make and Sell Diagnostics in China. Chinese Food Company Plans for Dual Listing in Hong Kong. Neich Medical Sign Distribution Agreement with US Firm for Catheters. Asia's First PET/CT Fusion Scanners Appear in Hong Kong. US-based Cow Vaccine Firm Hopes to List in Hong Kong. Ranbaxy Signs In-licensing Agreements with Chinese and Korean Companies. Biocon and Shantha Biotech Join Hands to Manufacture Human Insulin. Dr. Reddy's Unveils New Asthma Drug. Bharat Biotech to Produce Diarrhoea Vaccine. Olympus and Terumo Develop Guidewire for Digestive Endoscopy. Mitsubishi Chemical to Sell US Cancer Test. Nippon Roche and Chugai to Co-promote Anti-emetic. New Leadership for Singapore's Drug Discovery Venture S*Bio. US to Buy Stem Cells from ES Cell International. Maxigen to Commission Taiwan Salt to Produce Collagen Materials. Ajinomoto to Set up Regional Headquarter in Thailand.

Australia's Chemeq to Start Independent Trials for Antimicrobial. Metabolic Sees Positive Results for Obesity Drug Trial. Bionomics Expands Drug Target Discovery Alliance with US Firm. AustCancer Furthers International Strategic Alliance. Avanir Signs Collaborative R&D Agreement with Chinese Company. World Class Fertilizer Production Line to Debut in Northwest China. Shanghai Scicon Develops Chip System for Detecting Multi-Tumor. Bristol-Myers Squibb and GlaxoSmithKline Lower Prices for Longer-Patent Deals in China. GSK to Focus More on R&D in China. Nicholas Piramal India to Tie Up with Gland Pharma. Sumitomo Electric Develops New Hair-Growth Substance. Olympus Develops World's First DNA Computer for Gene Analysis. Sakai Chemical and Theratechnologies to Develop and Market ThGRF Peptide in Japan. Korea's Isu Chemical Buys into UK Biotechnology Firm. Sanofi-Synthelabo to Market DVT Drug in Malaysia. Mead Johnson Set for Another Year of Healthy Growth. Malaysia Glove Maker Tops in US and Europe Glove Imports. New Zealand's Genesis and Landcare to Research into Grey Mould Genetics. Singapore's AP Genomics to Launch Innovative Dengue Diagnostic Kit. ViaCell Sets up R&D Stem Cell Lab in Singapore. Intel Provides IT Supports for Singapore's Biomedical Grid. Singapore-Based Osim Targets 500 Outlets Globally By 2005. ITRI to Launch Biochip Consortium in Taiwan. Three Taiwan Firms to Jointly Develop Chinese Medicine.

Shanghai Roche Adopts Siebel eBusiness Applications. Trimedyne Commences Sales in China. HK's Healthy International to Distribute US Baywood Products for the Asia Pacific. Exactech Opens Total Joint Replacement Clinics in China. NexMed's New Erectile Dysfunction Product Launched in China. Singapore Key to Agilent's R&D. Yamanouchi Ties-up with Celera Genomics. Korean Firm Gets FDA Nod for Clinical Trials of New Drugs. Dr. Reddy's Gets Approval to Market Its First Biotech Product. Nicholas Piramal and Reckitt Benckiser Joint Venture Called Off. China's Largest Gene Company Applies for 3700 Patents. Syncor Acquires Australia's Radpharm Scientific. Prana Biotech Develops Potential Cure for Alzheimer's Disease. Progen Enters Into Phase II Trial of Anti-Cancer Drug. Ranbaxy Acquires Indian Herbal Brands. Sumitomo to Commercialize Novirio's Hepatitis B Drug.

Abstract: This article provides a frame and textual analysis of coverage appearing in Time, Newsweek, and U.S. News & World Report of the 114-day 1962-63 strike of the International Typographical Union Local 6 against New York City newspapers. The strike was particularly important for asserting the union’s collective bargaining rights and establishing its stance on automated printing processes. Analysis of the newsweeklies’ treatment of the strike suggests how these outlets related the event in terms favourable to the newspaper publishers, while misrepresenting or disparaging the union’s position in and justification for the strike. Résumé : Cet article propose une analyse textuelle de la couverture médiatique de Time, Newsweek et U.S. News & World Report de la grève qui opposait l’International Typographical Union Local 6 aux quotidiens new-yorkais, conflit qui a duré 114 jours en 1962-63. La grève a été particulièrement importante dans l’affirmation des droits syndicaux à la négociation collective et dans le positionnement des syndicats face aux processus d’impression automatisés. Une analyse de la manière dont les hebdomadaires ont couvert la grève suggère que ces derniers ont relaté l’événement de manière à favoriser les éditeurs des journaux tout en déformant, voire en dénigrant, la position du syndicat sur la grève et sa façon de justifier celle-ci.

GlaxoSmithKline and Shanghai Medical Institute Set up Combinatorial Chemistry Lab. GeneMedix to Take On Schering for Cancer Drug in China. Roche and China's Genome Center to Identify Disease-related Genes. Pharmagenesis and Tianjin Zhong Xin Enter Joint Venture. Korean Biotech Startups Show Impressive Developments. aaiPharma to Establish Joint Venture in China. US Firm Given Approval to Conduct Clinical Trials of Cancel Drug in China. Taiwan's Uni-President Group Sets up US Subsidiary. Uni-President Halts Investment in Vita Genomics. HK's JDH Helps CNS of US to Expand Its International Distribution Network. GeneProt Opens World's Largest Proteomic Discovery Center in Geneva. Takeda Discovers Metastasis Suppressor Peptide Ligand. Fujisawa to Transfer Animal Health Business to Schering-Plough. Phase 2 Trial of Chugai's Gastroparesis Drug On Hold. PPL New Zealand Expansion to Go Ahead. Pfizer is Open to Alliances with Local Indian Companies. Wockhardt-Bayer Tie-Up to Market Antibiotic in India. Sanofi Acquires Torrent Pharma's Stake in India. Thai Food Company Aims to Capture Shanghai Market.

We study family firm status as an important condition in signaling theory; specifically, we propose that the market reacts more positively to positive, and more negatively to negative, CSR news (i.e., signals) from family firms than to similar news from nonfamily firms. Moreover, we propose that during recessions, the direction of these relationships reverses. Based on an event study of 1247 positive and negative changes in the CSR ratings for all firms listed on the French SFB120 stock market index (2003-2013), we find support for our hypotheses. Moreover, a post hoc analysis reveals that the relationships are contingent on whether a family CEO leads the firm.

JAPANNew challenges face the robot industry of tomorrow. ‘It is estimated that the Japanese robot industry increased its production to Yen550billion in 1997,’ writes Seiuemon Inaba, Chairman of the Japan Robot Association in his New Year message . ‘This is 17% up over the preceding year, due chiefly to the rapid recovery of exports, in addition to the active domestic demand that has continued since 1996. The figures also reflect a firm trend of capital investment. ’ Although rec ent economic conditions have led to some uncertainties about future developments of the business climate, the industry's production in 1998 is likely to regain the Yen600billion level, an all-time high which was reached in the previous peak period,' he adds. ‘In respect of the fundamental economic and social needs for robots in Japan, we believe it is essential to further development of the nation's manufacturing industry-based economy that steps are taken to meet the requirements of industry, particularly in the strengthening of its international competitive abilities through the improvement of productivity and the establishment of a more efficient production system, ' writes Mr Inaba. ’In addition, the industry is called on to meet various other requirements, including measures to compensate for the shortage of skilled workers, the development of an intellectual, comfortable working environment to arrest the tendency of young workers to defect from the manufacturing sector , the release of workers from the so-called ‘three-D (dangerous, dirty and difficult) jobs, and the reduction of working hours,' declares Mr Inaba. ‘These requirements are expected to bring about mid-to-long-term active demand for automat ion equipment, especially robots and factory automation systems,’ writes Mr Inaba. ‘At present robots are used mostly in the conventional manufacturing industy, but in the years ahead, their application will be expanded to the personal sector, covering household uses and support systems for the daily life of the elderly and handicapped, as well as to non-manufacturing industries, including construction, nuclear power, ocean development, medical care and services.’ Mr Inaba adds: ‘St renuous research and development efforts for high technologies are essential to meeting such a wide range of economic and social needs in Japan. Among 15 new and growth sectors covered by a government programme for economic restructuring and creation, pre-arrangements are being made for a research and development project on ‘human co-operating and coexi sting robots’ for which the programme calls on interested parties to immediately set about development and commercialisation tasks. The robot industry intends to participate actively in the project when it comes to the implementation stage. “Thus the Japan Robot Association intends to carry out actively on various operations aimed at further development of the industry. For this purpose, we request the competent government agencies and other interested parties for continued guidance, assistance and co-operation” concludes Mr Inaba.

Purpose Studies on inter-firm relationships have recently shifted their attention from dyadic networks to more globally driven network structures. This condition occurs because embeddedness in global network structures may improve firm innovation and performance. In addition, the improvement of firm innovativeness and performance seems higher when globally networked firms both compete and cooperate between and among them. In this paper, we categorize the simultaneous interplay of cooperation and competition in the global arena as global network coopetition (GNC). Under GNC, multinational enterprises act jointly with their global partners-rivals to improve performance, at the same time by sharing complementary resources (cooperation side) and by undertaking independent actions to enhance their own performance (competition side). This paper aims to expand existing research on network and global coopetition by shedding light on the effects of coopetition between and among firms belonging to global network structures on value capture and innovation performance. Design/methodology/approach Using a sample of 100 firms belonging to 14 industries organized in 47 global networks of different sizes, the authors conducted a longitudinal empirical study over the period 2000-2014 covering 1,098 observations, 1,717 interfirm relationships and 78 inter-networks linkages. A multiple regression model on panel data with random effects was conducted on the sample of 1,098 observations related to the global automotive industry to test the research hypotheses. Findings Findings show that GNC enhances firm performance and innovation outcomes. In addition to GNC, structural characteristics such as network size, network position and network diversity have significant positive or negative effects on innovation and performance outcomes of firms belonging to these global network structures. Research limitations/implications Our research offers a contribution to the literature dealing with global networked structures’ effects on firm innovation performance. In fact, it effectively complements prior work on outcomes of coopetition between firms embedded in complex network structures. It also advances research in the area by introducing the notion of GNC as a network by which firms can enhance their innovation performance and, therefore, their global innovation performance. This study has some limitations. First, we acknowledge that it is focused only on 14 global coopetitive networks. It could be promising to extend the scope to integrate other networks. Second, our measures of firm actions as based on a content analysis of news reports related to firms. It would be important to complement this data collection by conducting a qualitative analysis (interviews). Atlast, it could be promising to include the study of customer needs in the new product development process. Practical implications Our study also offers some insights into the management of coopetition. In fact, by taking into account the existence of a context in which global coopetition networks play a role, managers may be better positioned to effectively deal with the paradox of being a partner of their direct rivals to improve their firms’ innovativeness and, consequently, achieve good performance, on the one hand, and to maintain relationships within several networks by taking into account their structural properties such as centrality and diversity, on the other hand. Originality/value We contribute to extant network coopetition literature in two ways. First, we introduce the notion of GNC to detect coopetition occurrence in global network structures. GNC refers to a context where actors in various networks belonging to different industries and geographies cooperate in a one (or more) innovative project/s, while simultaneously keeping on competing within and between their networks. Second, we contribute to network coopetition by analyzing specific GNC effects on firm innovation performance. In so doing, we can provide a deeper analytical understanding of GNC performance effects on firms operating in global network contexts.

In the month of May 2019, Ms Priya Vaidehi who works as a chartered accountant in a small firm in the city of Pune was pondering about her personal investment. While surfing on social media on the sunny hot afternoon of 2 May 2019, she came across the news of the biggest merger deal in the Indian telecom sector. The news was about how Britain’s Vodafone Group merged its Indian subsidiary with Idea Cellular, to create the country’s largest telecom firm. They mentioned how the combined entity will accelerate the pan-India expansion of wireless broadband services and also expand financial inclusion through mobile money services. Since the merger, the network has an outreach of 92 per cent of population of India. Ms Vaidehi planning for her future investments narrowed down her investment search to do a deeper analysis of the merger of two telecom giants Vodafone and Idea. The Indian telecommunication market has a subscriber base of 1.20 billion and is rapidly growing. The country’s wireless subscriptions has witnessed compound annual growth rate (CAGR) of 19.62 per cent to reach 1,183.41 million in the year 2018. Over the past few years, from the announcement of merger to the declaration of completion of merger, she has noticed that there has been volatility in the share price of Idea Cellular. Though the subscriber base of Vodafone, Idea’s is around 400 million, and sales had gone up 53.5 per cent in the third quarter of FY 2018–2019, but the share price had been plunging to an average fall of 14 per cent. She was in deep thought whether she should invest in buying the shares of Vodafone Idea? Will her instinct help her or the knowledge of financial markets aid in taking the right decision?

Media-aware stock movements are well acknowledged by the behavioral finance. As the soul of a firm, CEO’s media behavior is critical to the operation of a firm. CEO’s exposure could have captured the investors’ attention and enhanced the media effect in the stock market in terms of the “eyeball economics”, or CEO’s overexposure could have attracted more attention than firm-specific news, which attenuate the media effect in the stock market due to the investors’ limited attention. This study systematically explores the role and the moderating effect of CEO’s media behavior on the relationship between media content and stock markets. Using daily frequency data for a sample of Chinese stocks, this study shows that higher CEO media exposure attenuates the media effect on stock markets, especially consumer-related stocks.