Prof. Josef Windsperger
Center of Business Studies
Bruenner Str. 72
A-1210 Vienna josef.windsperger@univie.ac.at www.univie.ac.at/IM; www.univie.ac.at/EMNET
(Visiting Professor Polona Domadenik, Faculty of
Economics,University of Ljubljana)
This course is concerned with topics regarding international business in
Central, East and South East Europe (CEE and SEE). You have to use the articles mentioned in the literature list below (use electronic data bases: http://data.univie.ac.at/dbs/ (ABI/INFORM, JSTOR, NBER working papers, Sciencedirect) , internet, and the library .
However, students are expected to go beyond the contents of the articles and find additional relevant literature to each topic.
1. Privatization in SEE: Are there any opportunities for foreign capital?
2. The role of foreign capital in SEE: Patterns, public attitudes and future prospects
3. Doing Business in SEE
4. Why do EU-firms invest inn emerging markets? Patterns, barriers and future prospects
5. R&D activities of MNC in emerging markets
6. The role of institutions in international business in emerging markets
7. Environmental issues in emerging markets: Legislation and business
8. Investment of MNC in environmental technology (Which firms invest more?)
9. Competition in emerging markets: Entry and exit of MNC
10. The impact of EU enlargement on international business
11. Management turnover in privatized firms in SEE and their impact on international business
Introduction: 17. 10. 2008, 12.00 - 13.00, SR 1
Group Meetings:

15. 12.: 10.00 - 13.00 and 14.00 - 18.00, SR 1
16. 12.: 10.00 - 13.00 and 14.00 - 18.00, SR 1
17. 12.: 11.00 - 13.00 and 14.00 - 17.00, SR 1
GOAL OF THE SEMINAR
The goal of this course is to familiarize students with a broad range of issues in international business in CEE and SEE. The requirements are twofold:
(a) Research paper and (b) Summary : Each student has to write and present a research paper (see Guidelines). In addition, you have to submit a two page summary of the research paper. Please submit one hardcopy of the research paper and summary to the office of the Chair for Organization and
Planning (Room 3/153) by DEC. 7 th , 2008 . In addition, please send a copy to
Prof. Domadenik (polona.domadenik@ef.uni-lj.si
).
(b) Presentation and active participation
The final grade will be based on the presentation and active participation (30 %) and the final paper (70 %).
GUIDELINES
Research Papers
(15 pages for one person; 25-30 pages for two persons)
Here are some rules for the structure of the paper:
Rules for the seminar paper: http://bwl.univie.ac.at/orgplan/teaching/seminar-unddiplomarbeiten/?no_cache=1
The heart of your paper should be
(1) to summarize and criticize the literature and
(2) to discuss the practical consequences of the research results for the management of the MNC.
In preparing the paper, you should read somewhat beyond the list of the required articles indicated in the course outline.
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TOPICS
1) Privatization in South East Europe: Are there any opportunities for foreign capital?
2) The role of foreign capital in South East Europe: patterns, public attitudes and future prospects
3) Doing Business in South-East Europe
4) Why do EU firms invest in emerging markets? Patterns, barriers and future prospects
5) R&D activities of multinational corporations (MNC) on emerging markets
6) The role of institutions in international business on emerging markets
7) Environmental issues on emerging markets: legislation and business
8) Which firms invest more in environmental technology?
9) Competition on emerging markets: entry and exit of multinational corporations
(MNC)
10) The impact of EU enlargement on international business
11) Management turnover in privatized firms in south east Europe and their impact on international business
REFERENCES OF ARTICLES:
1) Privatization in South East Europe: Are there any opportunities for foreign capital?
Hunya, G. Recent FDI Trends, Policies and Challenges in South-East European
Countries . WIIW Research Report No. 273, 2000.
Demekas D., Horvath B., Ribakova E. and Y Wu. Foreign Direct Investment in
Southeastern Europe: How (and How Much) Can Policies Help?
IMF Working
Paper No.05/110, 2005.
Radosevic S. and A. Rozeik. Foreign direct investment and restructuring in the automotive industry in Central and East Europe . Working paper No.53, Centre for the Study of Economic and Social Change in Europe, 2005. Accessible on internet:
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http://cosmic.rrz.uni-hamburg.de/webcat/hwwa/edok05/f10861g/wp53.pdf
.
Megginson, W L and J M Netter: From State to Market: A Survey of Empirical
Studies of Privatization. Journal of Economic Literature , 39(2), 2001: 321-89.
Dhanji F and B Milanovic. Privatization in Eastern and Central Europe.
Objectives, Constraints and Models of Divestiture . World Bank, 1991. Accessible on internet http://wwwwds.worldbank.org/servlet/WDSContentServer/WDSP/IB/1991/09/01/000009265
_3961001232804/Rendered/PDF/multi0page.pdf
2) The role of foreign capital in South East Europe: patterns, public attitudes and future prospects
Richards D L, Gelleny R D and D H Sacko. Money with a Mean Streak? Foreign
Economic Penetration and Government Respect for Human Rights in
Developing Countries. International Studies Quarterly , 2001, Vol 45(2): 219-239.
Rohrschneider R and S Whitefield: Support for Foreign Ownership and
Integration in Eastern Europe. Comparative Political Studies , 2004, Vol 37 (3):
313-339.
Sergi B S.
Understanding the ‘EU factor’: the Balkans regions as recipients of
FDI and industries. SouthEast Europe Review for Labour and Social Affairs ,
2004: 7-20.
Fabry N and S. Zeghni. How former communist countries of Europe may attract inward foreign direct investment? A matter of institutions . Communist and Post-
Communist Studies, 39(2), 2006: 201-219.
3) Doing Business in South-East Europe
World Bank, 2007, Doing Business 2008 , Washington DC.
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Zabkar V and M.Makovec Brencic: Values, trust and commitment in business-tobusiness relationship: A comparison of two former Yugoslav markets. International
Marketing Review , Vol 21(2), 2004:202-215.
Bitzens A and E Nito: Obstacles to entrepreneurship in a transition business environment: the case of Albania. Journal of Small Business and Enterprise
Development , Vol 12(4), 2005: 564-578.
Wright M, Filatotchev I, Hoskisson R E and M W Peng: Strategy Research in
Emerging Economies: Challenging the Conventional Wisdom.
Journal of
Management Studies , Vol 42(1), 2005: 1 – 33.
4) Why do EU firms invest in emerging markets? Patterns, barriers and future prospects
Brunetti A, Kisuko G and B Weder: Institutional Obstacles. Region-by-Region
Results from a Worldwide Survey of the Private Sector. Policy Research Working
Paper. World Bank, 1997.
Accessible on internet: http://wwwwds.worldbank.org/servlet/WDSContentServer/WDSP/IB/2000/02/24/000009265_39
71110141322/Rendered/PDF/multi_page.pdf
Roberts K and C Zhou. New Private Enterprises in Three Transitional Contexts:
Central Europe, the Former Soviet Union and China . Post-Communist Economies,
Vol. 12 (2), 2000: 187-199.
Wolff G. Foreign Direct Investment in the Enlarged EU: Do Taxes Matter and to What
Extent?
, Open Economies Review , vol. 18(3), 2007, 327-346.
Janicki H P and V P Wunnava: Determinants of foreign direct investment: empirical evidence from EU accession candidates. Applied Economics , Vol 36(5), 2004, 505
– 509.
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5) R&D activities of multinational corporations (MNC) on emerging markets
NAtional Science Fundation Research and Development: National Trends and
International Linkages in Science and Engineering Indicators, Chapter 4, 2008.
Accessible on internet: http://www.nsf.gov/statistics/seind08/pdf/c04.pdf
Brouwer E, Poot T, and K Montfort. The Innovation Threshold. De Economist, 156,
2008:1, 45-71.
Iwasaki I. Enterprise Reform and Corporate Governance in Russia: A Quantitative
Survey. Journal of Economic Surveys Vol 21(5), 2008: 849-902
Yang Q and C X. Jiang. Location advantages and subsidiaries’ R&D activities in emerging economies: Exploring the effect of employee mobility. Asia Pacific Journal of Management, Vol 24, 2007: 341-358
Domadenik P, J Prašnikar and J Svejnar How to increase R&D in transition economies? Evidence of Slovenia. Review of Development Economics , Vol 15(1),
2008: 193-208.
6) The role of institutions in international business on emerging markets
Djankov, S., R. La Porta, F. Lopez-de-Silanes, A. Shleifer: The Regulation of Entry ,
Quarterly Journal of Economics , Vol 117, 2002: 1-37.
Arrunada, B: Pitfalls to avoid when measuring institutions: Is Doing Business damaging business?, Journal of Comparative Economics , Vol 35(4), 2007: 729-747.
Luo Y. Multinational enterprises in emerging markets: Comparative Insights.
Copenhagen Business School Press , 2002, Chapter 2.
Bhattacharyya, S: Unbundled institutions, human capital and growth, Journal of
Comparative Economics , in press, available online since June 2008.
7) Environmental issues on emerging markets: legislation and business
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Lyon, T. P. Environmental Governance: An Economic Perspective , University of Michigan
Working Paper Series, 2006. http://webuser.bus.umich.edu/tplyon/Lyon9-25-06.pdf
Accessible on internet:
Martinsons M G, So S.K.K., Tin C. and D. Wong Hong Kong and China: emerging markets for environmental products and technologies , Long Range Planning , Vol
30(2), 1997: 277-290
Löschel A. Technological change in economic models of environmental policy: a survey, Ecological Economics , Vol 43(2-3), December 2002: 105-126
Maxwell, J. W. and C. Decker. Voluntary Environmental Investment and Regulatory
Responsiveness, Environmental and Resource Economics , Vol 33, 2006: 425-439.
8) Which firms invest more in environmental technology?
Askildsen J. A., Jirjahn U. and S.C. Smith Works councils and environmental investment: Theory and evidence from German panel data , Journal of Economic
Behavior & Organization , Vol 60(3), 2006: 346-372.
Klassen R.D. Exploring the linkage between investment in manufacturing and environmental technologies . International Journal of Operations & Production
Management , Vol 20 (2), 2000: 127-147.
Lyon, T.P. and J.W. Maxwell. Corporate Social Responsibility and the Environment:
A Theoretical Perspective . Review of Environmental Economics and Policy 2008
2(2):240-260.
Porter, M. E. and C. van der Linde. Toward a New Conception of the Environment-
Competitiveness Relationship, Journal of Economic Perspectives , 9, 1995: 97-118.
9) Competition on emerging markets: entry and exit of multinational corporations (MNC)
Hitt M A, Li H and W J Worthington. Emerging Markets as Learning Laboratories:
Learning Behaviors of Local Firms and Foreign Entrants in Different Institutional
Contexts. Management and Organization Review, Vol 1(3), 2005: 353-380.
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Singh A. Competition and Competition Policy in Emerging Markets: International and
Developmental Dimensions. G-24 Discussion Paper Series, UNCTAD, 2002.
Accessible on internet http://www.unctad.org/en/docs/gdsmdpbg2418_en.pdf
Luo Y. A coopetition perspective of global competition, Journal of World Business,
42(2), 2007: 129-144
Inkpen A and K. Ramaswamy. End of the multinational: emerging markets redraw the picture. Journal of Business Strategy , Vol 28(5), 2007: 4-12.
10) The impact of EU enlargement on international business
Brülhart M, Crozet M and P Koenig. Enlargement and the EU Periphery: The Impact of Changing Market Potential, The World Economy , Vol 27(6), 2004: 853-875.
Ees van H and R. Bachmann.
Transition economies and trust building: a network perspective on EU enlargement, Cambridge Journal of Economics, Vol 30(6), 2006:
923-939
Kalotay, K. The European flying geese: new FDI patterns for an old continent?
Research in international business and finance , Vol 18(1), 2004, 27-49.
Jansson, H and S. Sandberg. Internationalization of small and medium sized enterprises in the Baltic Sea Region . Journal of International Management , Vol
14(1), 2008: 65-77.
11) Management turnover in privatized firms in south east Europe and their impact on international business
Bloom N. and J. Van Reenen. Measuring and Explaining Management Practices
Across Firms and Countries. Quarterly Journal of Economics, Vol 122 ( :4), 2007,
1351-1408
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L.F. Klapper and I. Love Corporate governance, investor protection, and performance in emerging markets Journal of Corporate Finance , Vol 10 (5),
2004: 703-728.
Cvelbar L K, Domadenik P and J Prašnikar. Performance, Ownership, and
Management Turnover in Privatized Slovenian Companies, Eastern European
Economics, Vol46 (4), 2008, 75-89.
Fiedermuc, J.P. and J. Fiedermuc. Can you teach old dogs new tricks? On complementarity of human capital and incentives. Journal of International Money and Finance , Vol 25 (3), 2006: 1-14.
Fall all topics:
In addition to the above literature, use the BOOK : Besim Culahovic (2008),
Ekonomija Svijeta, Sarajevo.
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