International business Books

Managing a Global Workforce examines important human resource management issues and practices in todayâs global marketplace, helping current and future managers and leaders, regardless of nationality, in making effective human talent management decisions for optimal organizational performance.This fourth edition includes significant updates to reflect recent global developments affecting the management of global HRM, including the following: â The COVID-19 pandemic and its impact on new work expectations/arrangements;â The Great Resignation;â AI and automation;â Managing diversity, equity, and inclusion;â Climate change;â Emerging economies; andâ CSR/ethics/sustainabilityThe new edition also includes several new opening and closing brief cases to promote applied reflection and discussion, as well as updated references to important research. With its practical, real-world emphasis, including frequent use of curre

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Book SynopsisThis new edition of Readings and Cases in International Human Resource Management is a classic edited textbook, taking account of recent developments in the international human resources management (IHRM) field, such as the pandemic, the role of diversity, equity, and inclusion, as well as climate change. It includes a range of key readings that are essential for understanding the field and contextualizes each one with a selection of real-life case studies that demonstrate their meaning and impact in practice.The book aims to sensitize the reader to the complex human resource issues that exist in the global business environment. To that end, it strives to publish âœtried and trueâ readings and cases that provide stimulating and intellectually challenging material and are written in ways that engage both the student and the instructor.Key features include: New readings and case studies that account for recent changes in the field, positioned alongsiTable of ContentsContents List of Illustrations Preface Acknowledgments List of Contributors B. Sebastian Reiche, Günter K. Stahl, Mark E. Mendenhall, and Gary R. Oddou Introduction: Christine Tseng’s Journey through Difficult International HRM Terrain PART I The Context of IHRM: Challenges, Strategies, and External Forces Readings 1.1 Paul Evans, Vladimir Pucik, Ingmar Björkman, and B. Sebastian Reiche Putting the Challenges of International Human Resource Management into Historical Perspective 1.2 Vlad Vaiman and David G. Collings Global Talent Management: Past, Present, and Future 1.3 Markus Pudelko Global Integration versus Local Responsiveness in International HRM Cases 1.1 Ingmar Björkman Paula Johnson: Building a World-Class Product Development Center in China 1.2 Evalde Mutabazi and C. Brooklyn Derr Socometal: Rewarding African Workers 1.3 Roger Hallowell, David Bowen, and Carin-Isabel Knoop Four Seasons Goes to Paris PART II Cross-Cultural and Diversity Management Readings 2.1 Robin J. Ely and David A. Thomas Getting Serious About Diversity: Enough Already with the Business Case 2.2 Josefine van Zanten and Alexander Fleischmann Inclusion in Organizations: Taking Stock and Going Forward in Turbulent Times 2.3 Pankaj Ghemawat and B. Sebastian Reiche National Cultural Differences and Global Business 2.4 Nana Yaa Gyamfi, Stacey R. Fitzsimmons, Christoph Miska, and Günter K. Stahl Multicultural Individuals: What Can They Bring to Global Organizations? Cases 2.1 Joanne Barnes WTC: The Challenge to Create a Culture of Equity, Inclusion, and Belonging 2.2 Álvaro San Martín Hiring a Chef – Decision Making Simulation 2.3 B. Sebastian Reiche and Yih-Teen Lee Uwa Ode: Embracing Life and Career across Cultures PART III Global Staffing and Management of Global Mobility Readings 3.1 David G. Collings, Anthony McDonnell, and Amy McCarter Types of International Assignees 3.2 Mark E. Mendenhall, Gary R. Oddou, and B. Sebastian Reiche The Expatriate Performance Appraisal Conundrum 3.3 Jaime Bonache, Celia Zárraga-Oberty, and Luigi Stirpe The Compensation of Corporate Expatriates Cases 3.1 J. Stewart Black Fred Bailey: An Innocent Abroad 3.2 Paula Caligiuri and Henry W. Lane Selecting a Country Manager for Delta Beverages India: Parts 1 and 2 3.3 Günter K. Stahl, Mark E. Mendenhall, and Mihaela Dimitrova Andreas Weber’s Reward for Success in an International Assignment – A Return to an Uncertain Future PART IV People Issues in Global Teams, Alliances, Mergers, and Acquisitions Readings 4.1 Martha L. Maznevski and Celia Chui Leading Global Teams 4.2 Paul Evans, Vladimir Pucik, and Ingmar Björkman Managing Alliances and Joint Ventures 4.3 Satu Teerikangas, Günter K. Stahl, Ingmar Björkman, and Mark E. Mendenhall Managing People and Culture in Mergers & Acquisitions Cases 4.1 Yih-teen Lee, B. Sebastian Reiche, and Carlos Sánchez-Runde Haier India: Aiming for Market Leadership 4.2 Ingmar Björkman and Günter K. Stahl Growth Through Cross-Border Acquisitions: Can Lenovo Repeat Its Success Story? 4.3 Emma Nordbäck and Maggie Boyraz The Rise and Fall of a Global Virtual Team PART V Responsible Leadership in a Global and Cross-Cultural Context Readings 5.1 Philip H. Mirvis Developing Globally Responsible Leaders 5.2 Günter K. Stahl, Christoph Miska, Laura J. Noval, and Mary Sully de Luque The Challenge of Responsible Global Leadership 5.3 Mike Rosenberg Business and Sustainability Cases 5.1 B. Sebastian Reiche and Yuan Liao Nestlé's Alliance for YOUth: Parts A and B 5.2 Atri Sengupta and Nicola M. Pless Juggling the Interests of Different Stakeholders? The Roles of Responsible Leadership and Human Resource Management 5.3 Barbara Coudenhove-Kalergi and Christian Seelos EVN in Bulgaria: Engaging the Roma Community Index

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This comprehensive and authorative sourcebook offers academics, researchers and students an introduction to and overview of current scholarship at the intersection of marketing and feminism. In the last five years there has been a resurrection of feminist voices in marketing and consumer research. This mirrors a wider public interest in feminism particularly in the media as well as the academy - with younger women discovering that patriarchal structures and strictures still limit women's development and life opportunities. The F word is back on the agenda  made high profile by campaigns such as #MeToo and #TimesUp. There is a noticeably renewed interest in feminist scholarship, especially amongst younger scholars, and significantly insightful interdisciplinary critiques of this new brand of feminism, including the identification of a neoliberal feminism that urges professional women to achieve a work/family balance on the back of other women's exploitation. Conso

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Book SynopsisComparative International Management is a classic textbook for International Business that teaches the core concepts of International Business through a systematic comparison of management practice in countries across the world. This approach, unique to textbooks in the field, highlights cultural and behavioural themes, demonstrates the diversity of practice in global business, and allows for an exploration of globalization. Fully revised and updated, this third edition has been restructured for clarity and ease of use, with new sections covering theoretical underpinnings so that they are easy to understand. Also new to this edition: Coverage of emerging and contemporary issues including environment and sustainability issues; international SMEs and entrepreneurship; technology, AI, and automation; and the future of work post-pandemic Practical application sections to help readers connect theory with practice More coverage of government aTrade ReviewThis fresh edition of a classic is very welcome. I have used this book in my postgraduate teaching for many years. It offers deep theoretical insights in, and empirical evidence for, how culture and institutions are interlinked with the spread of ‘best global practices’, and why diversity persists in managing and organizing people across societal borders. Mike Geppert Professor of Strategic and International Management Friedrich Schiller University Jena, Germany The study of the multinational enterprise is an enormous field of study that has developed over the last half century and more. Summarizing and distilling this vast body of work into a single volume is no easy task. However, Noorderhaven, Koen, and Sorge have risen to the challenge and produced a magnificent overview of the field. It is broad in its coverage, touching on virtually every important research advance and pursuing the practical implications for practitioners. It is also deep, in that it summarizes decades of academic debate and discourse into a few pithy pages. I highly recommend this work to the student of both international management and international business. Ram Mudambi Frank M. Speakman Professor of Strategy Fox School of Business, Temple University, USA The third edition of this leading textbook on comparative international management has been thoroughly updated to take account of new research and changes in the international business environment. There is also a very useful new chapter integrating the different approaches considered in the book, an expanded section on changes in East Asia, particularly China, and a brief analysis of the business systems across Asia. It will be particularly useful for students on advanced undergraduate programmes and postgraduate courses, as well as scholars new to the area. Richard Whitley Professor emeritus of Organizational Sociology Manchester Business School, University of Manchester, UK Table of ContentsContents List of figures List of tables Preface About the authors General introduction 1 The approaches in comparative international management 2 National cultures and management – the etic approach 3 National cultures and management – the emic approach 4 Institutional diversity and management 5 Combining approaches 6 Corporate governance 7 Operations management 8 Human resource management and employment relations 9 National innovation systems 10 Multinational corporations: structural, cultural and strategic issues 11 Globalization: interdependencies, harmonization and societal specificity Index

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Book SynopsisThe Belt and Road Initiative (BRI) is a major development strategy launched by the Chinese government with the goal of fostering economic cooperation among countries along the proposed routes. The BRI marks a new era in which multinational enterprises (MNEs) from developing countries are beginning to take primary responsibility for driving global flows of outward foreign direct investment (OFDI). Among hotly debated topics on how the BRI is reshaping the global competitive landscape, corporate social responsibility (CSR) reporting practices of Chinese MNEs along the Belt and Road are noteworthy but relatively less discussed.This book investigates how do Chinese MNEs engage with, define, and implement CSR under such an enormous cooperative initiative through analyzing their CSR reporting practices in the BRI host countries. Besides this, opportunities and challenges of the BRI investments for sustainable development in host countries are examined. The book provides critical insights into the current institutional architecture for CSR reporting to promote sustainable development. It also highlights the importance of stakeholdersâ capacities to sustain, enact, and execute strict CSR disclosure laws and regulations.The findings mark important implications, particularly in view of growing concerns about international reputational damage of unsustainable OFDI. The book is suitable for researchers, undergraduate and postgraduate students in the fields of CSR, sustainability development, accounting, and international business; as well as others who are keen on the latest development of the BRI in relation to other developing and least-developed countries.

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Book SynopsisThe third edition of The Global Human Resource Management Casebook provides a wide range of international teaching cases exploring contemporary human resource management (HRM) challenges. Each case focuses primarily on one country and illustrates a critical HRM issue confronting managers and HRM practitioners. This real-world application provides students of HRM with a unique opportunity to examine how key HRM theories and ideas translate into practice.The case studies emphasize the national and cultural contexts of HRM, providing readers with a global understanding of HRM practices like recruitment, reward systems, diversity, and inclusion, as well as recent developments including the impact of the COVID-19 pandemic, remote working, sustainability, and digital transformation. In this edition, the editors and authors have made significant updates to reflect recent developments in the field and cover a broader range of countries. The authors also delve into new industTrade Review“Human Resource Management (HRM) has become a global agenda. While there are differences by country, there are similar principles that apply worldwide. This outstanding set of cases demonstrates how 31 countries deal with the array of human capability (talent, leadership, organization, and HRM) issues that exist around the world. The cases offer relevant, specific, and compelling insights that will be useful for business and HRM leaders who want to deliver stakeholder value through human capability.”Dave Ulrich, Rensis Likert Professor, Ross School of Business, University of Michigan; Partner, the RBL GroupTable of Contents List of Illustrations Contributor BiographiesForewordPreface Acknowledgments Part I: Western Europe 1 Austria: Talent Development at McDonald’s Austria: A Compromise between Local Demands and Global Standards 2 France: NEWMOTOR: An HR Policy to Develop New Skills at a French Company in the Aeronautics Industry 3 Germany: Talent Development in Complex and Dynamic Environments: New Approaches in the Context of the German Business System 4 Switzerland: Flexible Work Aligned with Organizational Culture: Choice with Responsibility at Novartis Part II: Scandinavia 5 Denmark: Toward a More Inclusive Approach to Developing Talent 6 Finland: Look Who’s Talking: Implementing Corporate Diversity and Inclusiveness Practices in Finland 7 Iceland: The Integration of HRM Practices in a Global Company: Acquisitions at Marel, Iceland Part III: Central and Eastern Europe 8 Hungary: An American Transnational MNC in Hungary: Past, Present, and Future of HRM Evolution9 Lithuania: Devbridge Lithuania: The War for IT Talents 10 Poland: Informal Employee Motivation, Rewards, and Flexible Management in a Dynamic SME Environment in Poland 11 Romania: Dealing with Employee Turnover at Fomco Group, a Successful Family Business from Romania 12 Russia: Okskaya Shipyard: Employee Retention 13 Slovakia: International Human Resource Management within the European Textile Industry Part IV: Mediterranean, Middle East, and Africa 14 Botswana: Diversity Management in an Institution of Higher Education in Botswana 15 Cyprus: People Management in Academia: Anna-Maria Harilaou’s HRM Concerns 16 Greece: What Can HRM Do for Me? HRM as a Business Development Function in a Technology SME 17 Israel: Redesigning the Production Floor and Reward System in a Food Production Company: HRM Considerations 18 Italy: Human Resource Management in Italian Family-Owned SMEs: Sustaining the Competitive Advantage through B Corp Transformation 19 Saudi Arabia: Implementing the Localization Law Effectively: The Case of HMG in Saudi Arabia20 UAE: Improving Internal Service: Leveraging HRM to Drive Organizational Change Part V: Asia and the Pacific Rim 21 Australia: The Casual Employment Crisis at Australian Universities: What are the HRM Responsibilities? 22 India: Gender Diversity and Inclusion: Strategies and Practices at ICICI Bank23 Japan: The Quest of Pasona for Employees’ Work-Life Balance: Relocation of Headquarters from Tokyo to a Remote Island 24 Singapore: On Cheong’s Human Resource Legacy 25 South Korea: Selecting and Developing Senior Leaders at Company A 26 Thailand: HRM Practices for Managing Age-diverse Employees in the Workplace: A Case Study of a Global Thai Company Part VI: The Americas 27 Canada: La Vie en Rose: Globalization Challenges for Human Resources Management in a Canadian Lingerie Leader 28 Chile: Developing a New Organizational Culture at SꓘY Airline 29 Colombia: Sustainable Human Resources Management: Balancing Profitability and Talent Well-Being in an Insurance Company 30 Mexico: HRM Experiences from a Danish Firm in Mexico: “Changing” Mexican Culture 31 United States: What About Me? When Diversity, Equity, and Inclusion Efforts Result in Unintended Outcomes Index

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Book SynopsisSmall- and medium-sized enterprises (SMEs) are increasingly viewed as valuable contributors to the global economy, which translates into their importance in business literature and academic research. Recent studies suggest that there exists a substantial variety of international activities pursued by SMEs expanding abroad, with a prominent presence of early internationalised enterprises, including born global. Despite the acknowledgement of the importance of human capital for SME internationalisation, there is a persistent knowledge gap concerning HR practices in this context. Until now, researchers investigating the accelerated internationalisation of SMEs have focused either on the human capital of decision-makers or selected attributes of employees, although these have only been at the pre-entry or entry stages. Thus, activities performed after entering foreign markets remain. This book attempts to reduce this gap and contribute to the body of knowledge concerning HR practices in

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Book SynopsisBusiness Groups and Strategic Coopetition sheds lights on the poorly recognised problem of intra-organisational relationships within business groups by adopting the coopetition lens. It brings together the strategic management (coopetition and performance) and international management perspectives (business groups and its role in the economy). It is a unique proposition as those two research streams, such as business groups and coopetition, are rarely assessed together. The coopetition, which is seen as the strategy of value creating in the rapidly changing environment, brings benefits, such as an increased innovation, cost reduction, access to resources, and improved competitive position that could be captured by business groups as well. However, the understanding of complex organisations, such as business group, and answering the question how to manage intra-level coopetition to gain better performance therein is still unclear. Therefore, the book aims to extend the knowl

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Book SynopsisManaging Global Supply Chains is a practical and highly readable text with real-life examples and excellent coverage. It is an ideal companion for post-experience business students, learning professionals and anyone interested in supply chain management.Table of ContentsAcknowledgementsAbout the AuthorsPrefacePART 1: INTRODUCTIONChapter One The role of supply chain as a key value driver in global market Chapter Two Why Global Supply Chain Management Chapter ThreeUnderstanding Global Supply Chain Management and its building blocks Chapter FourContemporary Global Challenges in Supply Chain Management PART 2: BUILDING BLOCKS OF GLOBAL SUPPLY CHAINChapter FiveCustomer focus and demand Chapter SixResource and capacity management Chapter SevenProcurement , purchasing and supplier focus Chapter EightInventory management Chapter NineOperations management Chapter TenDistribution Management PART 3: NEW DEMANDS AND TRENDSChapter ElevenSupply chain in service sectors and non-profit and charity organisations Chapter TwelveGlobalisation and Supply chain in emerging markets Chapter ThirteenDigital Revolution and E- supply chain Chapter FourteenLean and agile supply chain Chapter FifteenSupply chain in the retail sector Chapter SixteenSustainable Supply Chain Chapter SeventeenSupply Chain for Major Projects Chapter EighteenQuantitative Analysis and Optimisation in Global Supply ChainsChapter NineteenSupply Chain StrategiesChapter TwentyManaging Supply Chain RisksPART 4: INTEGRATING SUPPLY CHAIN MANAGEMENTChapter Twenty oneSystems and Procedures Chapter Twenty twoSales and Operations Planning Chapter Twenty threeGlobal Supply Chain Performance Management Chapter Twenty fourCase Study examples ReferencesAppendicesGlossaryIndex

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Book SynopsisHuman resource management (HRM) has a significant impact on companies'' performance, as evidenced by research conducted in multinational companies (MNCs) based in Central Europe. This book provides a unique perspective of activities conducted in the HRM field in local subsidiaries of such enterprises. It also presents results verifying many hypotheses for each of the six models for single HRM subfunctions and their four relationships with the results of company performance. Particular chapters are devoted to activities including staffing the organization, shaping employee work engagement and job satisfaction, conducting employee performance appraisal, employee development, managerial staff development, and employer branding. The author used the Partial Least Squares Structural Equation Modeling to verify the research hypotheses.Readers will acquire knowledge about HRM practices in organizations in which the overwhelming ownership capital belongs to MNCs headquartered in

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Book SynopsisInternational Business is a well-established research field, in which regionalisation has recently gained significant prominence. Europe comprises marketplaces characterised by unique patterns of highly advanced economic integration. No other marketplace in the world has progressed to the same levels of harmonisation across sovereign countries and economies. European Business is a subject in its own right with its own research momentum. Contemporary research evidences that firms view Europe as a challenging, mostly yet not entirely mature market location. Yet this location, often seen from a multi-country perspective, is subject to complexities revealing strategic corporate strengths and weaknesses. Theory, concepts and models known from International Business hence often vary in their applicability and relevance in this business environment.This comprehensive reference volume brings together a global team of contributors to analyse and overview tTrade Review'Encompassing a diverse range of scholarly perspectives, this timely volume offers a panoptical overview of European Business. It is ideal as a core text for taught postgraduate courses in European Business as well as providing reference material for graduate research students and researchers in International Business' — Louis Brennan, Professor, Trinity College Dublin, Ireland'This excellent volume provides one of the most comprehensive treatments of regionalization in European business to date. It offers a single repository on the current state of knowledge and debates as well as future research agendas on Europe as a distinct region. The contributions offer an engaging read by covering different disciplinary fields and multiple perspectives including firm, national and supra-national levels of analysis. This essential reference book speaks to a broad audience of both junior and more seasoned researchers in business as well as management educators in the field. I can warmly recommend it' — Rebecca Piekkari, Professor, Aalto University, FinlandTable of Contents1. Introduction: Development of the discipline and trends Part 1: European Business Research: Review of literature and state of affairs 2. European Business: A literature review 3. European Business Research in Perspective: The focus of regionalisation in the international business literature Part 2: International business theory and evidence in Europe: Origins and evolutions 4. Internalization Business Theory and European Business 5. On the Basis of the Uppsala Model: Evolution of European research models and frameworks 6. The Institutional Heterogeneity of Europe as a Regional Market 7. European SMEs and the Born Global Concept Part 3: Culture, Identity and European Business 8. Innovation Capacities and National Cultures: Drawing a cartography of the European landscape 9. Culture and European Business Environment: Past, present and future 10. Toward a Theory of European Business Culture: The case of management education at the ESCP Europe Business School Part 4: The Political Economy of Doing Business in Advanced Regionalisation 11. Regionalisation and the European Project 12. Single Market Evolution and its Business Impact 13. Free Trade Agreementments and Regional Trade Agreements with Third Countries and European Business 14. The EU’s Institutions and the Business Environment Part 5: Managing People in Europe 15. Job Quality in Europe: Regulation, workplace innovation and human resources practices 16. Human Resources Management and European Business 17. International Competencies for European SME Graduate Employees: A Dutch experience 18. European Sub-regional Approaches to Human Resources Management 19. Europe and its Diversity: Dealing with human resources management in Russia, Belarus and Ukraine Part 6: Functional and Sectorial Perspectives 20. European Business Marketing 21. Exploring the Pre-requisites for Long-term Survival of Internationalizing and Innovative SMEs: The case of the Swedish life-science industry 22. Firm Capital Structure in Europe: Comparative analyses of CEE firms vs. Western firms in the changing financial environment 23. Managing Cross-border M&A: Three approaches to takeovers in Europe 24. The Future of Manufacturing in the Single European Market: A case study 25. Services in the Single European Market in the Twenty-first Century Part 7: Complex Challenges: European society and the natural environment 26. Climate Change, Energy and Innovation: Challenges and opportunities for the European Union 27. Business and Human Rights in Europe: Insights from the ILVA case 28. Conclusion: European Business: a twenty-first century research agenda

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Book SynopsisThis book presents a comparative analysis of Cross-Border Mergers and Acquisitions (CBMA) in terms of competitive framework and procedures between India and the United States of America.

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Book SynopsisMost books on business strategy approach the subject from a corporate perspective, covering topics such as the vision for the business, the marketplace, competition and differentiation. However, the reality is that most managers work in sub-units or subsidiaries of the business and they are not involved in corporate strategy formulation. Their strategic concerns are with the positioning and future trajectory of their own units within the complex internal ecosystem in which they exist. If these units are to survive and grow, the middle managers responsible for them must plan their future, maximise their value-add and compete for resources within the internal market of their corporations. Such internal markets are becoming increasingly volatile due to general economic conditions but also given the questioning of globalisation and increasing corporate concerns about the frailties of international supply chains as brought into sharp focus by the COVID-19 crisis and the war in Ukraine. <Table of ContentsChapter 1. INTRODUCTION PART I: CORPORATIONS AND THEIR SUBSIDIARIES Chapter 2. THE VIEW FROM THE TOP Chapter 3. SUBSIDIARY EVOLUTION PART II: INTROSPECTION AND ANALYSIS Chapter 4. WHAT WE DO: ANALYSING OUR CHARTERS Chapter 5. HOW WE DO IT: ANALYSING OUR CAPABILITIES Chapter 6. WHERE WE DO IT: ANALYSING OUR ENVIRONMENT PART III: CHOICES AND ENABLERS Chapter 7. MAKING STRATEGIC CHOICES What support are we looking for, and when? Chapter 8. EXERTING INFLUENCE Chapter 9. MANAGING THE CHANGE WITHIN Chapter 10. PARENTAL RESPONSIBILITIES Chapter 11. CONCLUSION INDEX BIBLIOGRAPHY Appendix A: TOOLKIT

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Book SynopsisDrawing on contributions from nine prominent scholars, the book reflects on global aspects of research in work, employment, leadership, management, and business. It follows current trends in global business research and recommends directions for closing the gaps between theory and practice for the benefit of executives in multinational corporations, academics, and international transients.Work and employment remain important and a core part of life, giving not only a sense of purpose, routine and meaning, but also independence and the ability to connect and contribute to the lives of others and society. Leadership styles and management behaviors in earlier multi-country studies did not demonstrate significant associative patterns regarding interpersonal leadership in different countries, and the use of mainstream single-country leadership meta-categories was invalidated. Thus, future studies of leadership should focus on investigating interpersonal leadership across nationaTable of ContentsPreface Introduction - Half a century of culture, work, employment, and leadership scholarship 1. ISMO and international business: past and future 2. Perspectives on work, employment and management: Asia, comparisons and convergence 3. Bringing context back into international business studies: own research experiences, reflections and suggestions for future research 4. Interpersonal leadership across cultures: a historical exposé and a research agenda 5. From ‘elites’ to ‘everyone': re-framing international mobility scholarship to be all-encompassing 6. From Comparative Management to Supranational Management

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Book SynopsisThe successful entry and survival of multinational enterprises (MNEs) in foreign markets largely depend on how governments and other stakeholders perceive their legitimacy. How do emerging market MNEs legitimise their operations in distant markets? What legitimacy threats must they overcome? This book explores these questions by examining MNEs from three BRIC economies (Brazil, India, China) and Poland, the largest economy in Central and Eastern Europe, as they enter Sub-Saharan Africa (SSA). We compare how these firms establish legitimacy in SSA, exploring both similarities (i.e. general patterns of legitimacy-building) and differences, often rooted in the interplay between the historical and developmental trajectories of their home and host countries.The uniqueness of this book lies in three key aspects. Firstly, it is the first to explore emerging market multinationals entering Africa through the lens of legitimacy-building. Secondly, it analyses the behaviour of corporations from four emerging markets, highlighting both commonalities and divergences in their legitimacy challenges and strategies. Thirdly, its concise format and balance between theory and practice make it particularly useful to a broad range of audiences, including scholars, students, and practitioners, especially entrepreneurs and managers aiming for success in Africaâs fast-growing markets.By blending theory with practical insights, the book is valuable for scholars, students, and practitioners in International Business (IB) and Strategy, providing actionable knowledge for entrepreneurs and managers aiming to thrive in the dynamic African markets.

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Book SynopsisEmerging markets due to their dynamism, resilience and complexities are a significant area of study for management theorists and practitioners. This volume brings together case studies from diverse corners of the industry and offers insightful analyses of real-world management challenges and strategies in dynamic environments.The book showcases the diversity of emerging markets that offer unique challenges in finance, marketing, organization and HR, among others. From family-owned enterprises in India grappling with succession-planning to tech startups navigating regulatory uncertainties â these case studies capture the essence of managerial dilemmas in emerging markets. Through rich narratives and rigorous analysis, the essays in this volume provide strategies for organizations to deal with turbulent times, declining sales and productivity, shrinking investments or consumer base and the need for businesses to innovate, expand and grow. The volume also includes reflections fr

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Book SynopsisTrade Review‘The Global Challenge offers key insights to how successful multinationals integrate Sustainability into their Business models and the role that Human Resources play to support this advancing space.’ -- Charise Le, Chief Human Resource Officer, Schneider Electric‘At a time when globalization seems at a crossroads, The Global Challenge provides a timely and comprehensive analysis of leaders’ multifaceted organizational and people management responsibilities as they navigate, shape—and adapt to—an ever changing political, economic, and social landscape. Packed with a wealth of corporate examples and cases across many industries and countries, this book is a must-read for students, educators, corporate decision-makers, and global professionals more broadly, aiming to understand the workings and talent challenges of global organizations.’ -- Sebastian Reiche, IESE Business School, Spain‘The most successful global companies are the ones that get the best out of their people. But the challenges in doing this have never been more acute. This new edition of The Global Challenge provides you with a detailed guide to hiring, enabling and motivating a diverse workforce from around the world. Packed with up-to-date case studies of old-world and new-world companies, it provides you with a strong theoretical background on managing people across borders as well as useful practical advice.’ -- Julian Birkinshaw, London Business School, UK‘The authors have done a stellar job in presenting the complexities and challenges posed in managing across countries and within countries in the 21st century. Useful reading for all who seek to better understand these dynamics and processes to heighten organizational performance.’ -- Rosalie Tung, Simon Fraser University, Canada‘The authors of The Global Challenge are amongst the great names of international business and international human resource management scholars. The book reflects their close and frequent contact with leading international businesses and addresses the issues that such businesses face, including examples and exercises drawn from life. A great combination of academic analysis and practical reality.’ -- Chris Brewster, Henley Business School, UKTable of ContentsContents: Preface to the Fourth Edition 1. Introduction to The Global Challenge 2. Understanding local context 3. Enhancing global integration 4. Enhancing coordination 5. Constructing social architecture 6. Acquiring global talent 7. Global performance management 8. Global leadership development 9. Harnessing diversity in teams and organizations 10. Managing global mobility 11. Facilitating change in multinational organizations 12. Sharing and creating knowledge 13. Forging cross-border mergers 14. Promoting sustainability 15. References Index

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Book SynopsisTrade Review‘The Global Challenge offers key insights to how successful multinationals integrate Sustainability into their Business models and the role that Human Resources play to support this advancing space.’ -- Charise Le, Chief Human Resource Officer, Schneider Electric‘At a time when globalization seems at a crossroads, The Global Challenge provides a timely and comprehensive analysis of leaders’ multifaceted organizational and people management responsibilities as they navigate, shape—and adapt to—an ever changing political, economic, and social landscape. Packed with a wealth of corporate examples and cases across many industries and countries, this book is a must-read for students, educators, corporate decision-makers, and global professionals more broadly, aiming to understand the workings and talent challenges of global organizations.’ -- Sebastian Reiche, IESE Business School, Spain‘The most successful global companies are the ones that get the best out of their people. But the challenges in doing this have never been more acute. This new edition of The Global Challenge provides you with a detailed guide to hiring, enabling and motivating a diverse workforce from around the world. Packed with up-to-date case studies of old-world and new-world companies, it provides you with a strong theoretical background on managing people across borders as well as useful practical advice.’ -- Julian Birkinshaw, London Business School, UK‘The authors have done a stellar job in presenting the complexities and challenges posed in managing across countries and within countries in the 21st century. Useful reading for all who seek to better understand these dynamics and processes to heighten organizational performance.’ -- Rosalie Tung, Simon Fraser University, Canada‘The authors of The Global Challenge are amongst the great names of international business and international human resource management scholars. The book reflects their close and frequent contact with leading international businesses and addresses the issues that such businesses face, including examples and exercises drawn from life. A great combination of academic analysis and practical reality.’ -- Chris Brewster, Henley Business School, UKTable of ContentsContents: Preface to the Fourth Edition 1. Introduction to The Global Challenge 2. Understanding local context 3. Enhancing global integration 4. Enhancing coordination 5. Constructing social architecture 6. Acquiring global talent 7. Global performance management 8. Global leadership development 9. Harnessing diversity in teams and organizations 10. Managing global mobility 11. Facilitating change in multinational organizations 12. Sharing and creating knowledge 13. Forging cross-border mergers 14. Promoting sustainability 15. References Index

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Book SynopsisTrade Review‘Mark Casson remains the leading intellectual in international business research. Written in plain language, compellingly argued and charting a new path to think about international business, Casson’s book on Global Business is not for aficionados of mundane echo chambers, but for those who want to change the status quo.’ -- Alain Verbeke, University of Calgary, Canada‘From a multi-level perspective, with time thrown in, Professor Casson provides much needed light and shade on the genesis of theory within international business (IB) and the academic field’s unwelcome narrowing. His expositions and excursions are an invitation to the reader to think, and to be part of the solution.’ -- Jeremy Clegg, Leeds University Business School, UK‘Mark Casson put an intellectual stamp on the theory of global business fifty years ago when introducing internalization theory. In this book, Casson continues his relentless and ambitious effort to develop a social science of international business by integrating history, location choice, and theories of decision making and complexity.’ -- Sjoerd Beugelsdijk, University of South Carolina, US‘Mark Casson is a thought leader in the true sense of the term. Where others rely on buzzwords, his work is based on analysis and logic. Where others follow fads and fashion, he focuses on issues and problems that are so fundamental that they remain important for scholars and practitioners long after his work has been published.Therefore, I read this new work by Professor Casson with great interest. He brings a welcome integration of international politics and international relations with international business, a synthesis that was long overdue. He intertwines international business analysis with international strategy and breaks down siloed thinking in the process. And he steps back to take a much longer term view of international business by using the lens and methodology of business history. While I do not agree with everything in this book, Professor Casson’s logic is, as always, impeccable. If one accepts his assumptions, his conclusions cannot be denied.’ -- Ram Mudambi, Temple University, USTable of ContentsContents: Introduction PART I POLICY ISSUES FOR THE FUTURE 1. International business in an age of political turbulence 2. Crises in international business: a new perspective 3. International rivalry and global business leadership: an historical perspective 4. Multinational enterprises and international cartels: the strategic implications of de-globalisation With Peter J. Buckley PART II THE PRESENT AGENDA: INNOVATIONS IN RESEARCH METHODS 5. The internalisation theory of the multinational enterprise: past, present and future With Peter J. Buckley 6. The theory of international business: the role of economic models 7. Complexity in international business: the implications for theory With Yutong Li. Appendix: case study of the measurement of structural complexity in a simple IB model 8. The geometry of international business PART III PRESENT CHALLENGES: INTEGRATING STRATEGY AND MANAGEMENT 9. Decision making in international business With Peter J. Buckley 10. Extending internalisation theory: integrating international business strategy with international management 11. Organizational innovation in the multinational enterprise: internalization theory and business history With Geoffrey Jones and Teresa Lopes 12. The making of global business in long-run perspective 13. The role of time in international business: an historical perspective With Teresa da Silva Lopes Index

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Book SynopsisTrade Review‘This book is a 'must' for anyone wanting to understand contemporary careers in a global context - whoever you are and wherever you may be. Drawing on the expertise of a truly global team of experts, it invites us to engage with careers in twenty different countries interweaving individual, organisational, industry and national perspectives. Theoretically innovative, empirically rigorous and very well written it is a pleasure to read. Enjoy!’ -- Julia Richardson, Curtin University, AustraliaTable of ContentsContents: PART I THE LAY OF THE LAND 1 Careers: what they are and how to look at them 2 Wolfgang Mayrhofer, Jon Briscoe, Michael Dickmann, Douglas T. Hall and Emma Parry 2 One, two, many ways – a hands-on guide to how to navigate this book 9 Wolfgang Mayrhofer, Jon Briscoe, Michael Dickmann, Douglas T. Hall and Emma Parry PART II PERSONAL CHARACTERISTICS 3 Walking a tightrope – the fulfillment of psychological needs in a self-determined two-job situation in Germany 15 Nanni Schleicher and Florian Schramm 4 Leonardo da Vinci’s spirit: a career story of an Italian creative entrepreneur 25 Silvia Bagdadli and Martina Gianecchini 5 Agency and structure in career-related decisions: an example from the financial crisis in Portugal 36 Silvia Dello Russo and Henrique Duarte 6 Crises and digitalization: your skills are unlimited, just discover them! Individual skills and their discovery in times of turbulence 47 K. Övgü Çakmak-Otluoğlu PART III STABILITY AND CHANGE 7 Career reinvention in Russia 56 Konstantin Korotov, Svetlana N. Khapova and Evgenia I. Lysova 8 Career inaction in Belgium: when you want to make a career change, but you just … don’t 64 Nicky Dries and Marijke Verbruggen 9 Career resilience in times of financial crisis in Greece 73 Leda Panayotopoulou 10 Change and continuity of career ecosystems for a parent company and foreign subsidiary in Japan 81 Chikae Naito and Mami Taniguchi 11 Career conditions in Pakistan: “apna banda” and career growth 92 Noreen Saher 12 Family as an anchor during career transition: a case from India 101 Akhila Veldandi, Sushanta Kumar Mishra and Richa Saxena PART IV BOUNDARIES AND BORDERS 13 The Canadian Mosaic lives on: supporting immigrants in transitioning to the local labour market 111 Rick Cotton and Mila Lazarova 14 A carpenter yesterday, an electronics technician today: a Syrian refugee’s career transition and subjective career success upon entering the German labour market 121 Maike Andresen and Svenja Rosseburg 15 Careers in turbulent environments: the impact of ‘Brexit’ on career motivations and behaviour in the United Kingdom 131 Michael Dickmann, Emma Parry and Katharina Chudzikowski 16 Back to the motherland: careers of Nigeria’s returning diasporas 142 Furo Bakare, Yetunde Anibaba and Ifedapo Adeleye PART V GENDER 17 Facing sexism in her way to the top: from “struggling alone” to “institutional support” in Argentina 152 Pamela A. Suzanne and Vanesa Vidal 18 Against all odds: a career success story of a woman of lower-class origin in Austria 162 Lea Katharina Reiss, Petra Eggenhofer-Rehart, Wolfgang Mayrhofer and Astrid Reichel 19 Gender and academic careers in Ireland: towards greater gender equality 172 Janine Bosak and Pat O’Connor PART VI GENERATIONS 20 To retire or not to retire? Teachers’ motivation to work in post-retirement in Lithuania 183 Bernadeta Goštautaitė and Virginija Putnaitė 21 ‘Old’ and ‘new’, now and then – reflections on four careers in Switzerland 192 Martin Gubler 22 A hundred years of solitude and fight: careers in Slovakia across three generations in Central and Eastern Europe 203 Sonia Ferencikova PART VII ORGANIZATIONS 23 Career coaching athletes: a career intervention for a specialized career in Australia 214 Narelle Hess and Denise Jepsen 24 What attracts young people today? Insights from Mexico 222 Sergio Madero Gómez and José Luis Montes Martínez 25 Career success through horizontal career transitions: an example from a Norwegian organization 231 Bryndís Steindórsdóttir and Anders Dysvik 26 Talent management: exclusive career management in inclusive Finland 240 Adam Smale Index 248

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Book SynopsisThis insightful Research Agenda provides reflections on the state of the international business and management discipline and also highlights important future topics for research, as well as sharing a range of thought-provoking ideas on key subjects from externalization theory to emerging market economies to societal crises and modern slavery.Trade Review'Climate change, increasing inequality, pandemic, political turmoil... ''Thinking out of the box'' is exactly what we need to do. But how can we do that? This book will help us leave our comfort zone and encourage our renewed challenges to overcome the box.' -- Takahiro Endo, Hitotsubashi University Business School, Tokyo, Japan'Ödül Bozkurt and Mike Geppert have brought together a selective and creative set of scholars to revisit how to conduct research in international business and management from a more relevant and critical perspective. Authors in this edited book identify chasms in mainstream ideas, illustrate how to think outside the box and practice cross-disciplinary fertilization. This leads to analysis of international dynamics emerging from the role of nation states, power relations, ideology and crises. It is a must read for scholars interested in tackling big questions in IB.' -- Ruth Aguilera, Northeastern University, US'''Thinking out of the box'' is definitely needed in order to write this book A Research Agenda for International Business and Management (IB/M) and address the current and future grand challenges of society. This impressive edited book by Bozkurt and Geppert thoroughly analyzes a number of topical themes within IB/M emphasizing multinational enterprises and internationalization processes and operations on the one hand, and themes like behavioral aspects, social-political developments, power, humanitarian crises, and modern slavery on the other. As such, this book will set the scene for IB/M research in the years to come.' -- Jens Gammelgaard, Copenhagen Business School, DenmarkTable of ContentsContents: 1 A Research Agenda for International Business and Management: the promises and prospects of thinking outside the box 1 Mike Geppert and .dül Bozkurt PART I REVISITING CORE IB/M THEORIES 2 Do we need a theory of externalisation? 23 Roger Strange 3 Behavioural theory and MNE decision-making: changing the narrative in international business management 43 Giulio Nardella, Rajneesh Narula and Irina Surdu 4 Outward investment from emerging markets: time for a paradigm shift? 63 Suma Athreye PART II CHANGING ROLES OF NATION-STATES AND MNES 5 The role of the home country in international business and management research: state of the art and future research directions 87 Florian Becker-Ritterspach and Khaled Fourati 6 The diplomatic imperative: MNEs as international actors 109 Brent Burmester PART III INTERNATIONAL MANAGEMENT, POWER RELATIONS AND IDEOLOGY 7 Treating ideology seriously in international business and management research: a textual analysis of the global “self-management” fad 131 Leo McCann, Brian Wierman and Edward Granter 8 Emerging economy MNCs and their geopolitical embeddedness 153 Ursula Mense-Petermann PART IV THEORIZING AND STUDYING NEW PHENOMENA IN IB/M: CRISIS, SLAVERY AND METHODOLOGY 9 Managing the unavoidable: new avenues for research on MNEs and societal crises 175 Verena Girschik and Jasper Hotho 10 Developing parameters for the occurrence of modern slavery: towards an empirical validation of Crane’s (2013) theory of modern slavery 195 Christoph Dörrenbächer and Lukas Ellermann 11 The future of international business research: theorising on unfolding phenomena in a complex, dynamic world 221 Peter Zettinig and Niina Nummela PART V COMMENTARY 12 Commentary on fulfilling the future agenda in international business 245 Jonathan P. Doh Index 251

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Book SynopsisThis comprehensive and engaging Research Handbook provides a full examination of the modes and mechanisms of international knowledge transfer. Furthermore, it also provides in-depth insights into international knowledge transfer related challenges faced by multinational enterprises (MNEs).Trade Review‘This book addresses the all important topic of international knowledge transfer, which is especially salient in the era of globalization and digital platforms. Novel technologies are giving new impetus to knowledge transfer. The volume addresses contemporary firms in the knowledge economy, and offers a truly global perspective from a cadre of recognized scholars from around the world.’ -- Gary Knight, Willamette University, US‘Now more than ever, success in the global economy requires in depth understanding of cross-border knowledge transfer, including the skills and competencies that make a successful transfer possible. This Handbook is an invaluable guide for the scholars and practitioners who stand in the frontline of this challenge.’ -- Oded Shenkar, The Ohio State University, US‘Khan, Nair and Lew manage to bring together a captivating set of contributions on knowledge transfer in the international business context. The Research Handbook is nicely organised around strategic dimensions, societal and human resource dimensions and finishes off with chapters on subsidiary knowledge creation and development. This book offers a systematic and contemporary account of the state of art knowledge on knowledge transfer.’ -- Rudolf R. Sinkovics, The University of Auckland, New Zealand and LUT University, Finland‘Cross border knowledge transfer is becoming vital for firms to develop competitive advantage. This Research Handbook on Knowledge Transfer and International Business provides a comprehensive account of cross-border knowledge transfer modes and mechanisms and the role of multinational enterprises in the transfer of knowledge. This book is an essential reading for researchers in knowledge transfer and competitive advantage.’ -- Pervez Ghauri, University of Birmingham, UKTable of ContentsContents: List of contributors vii Introduction to Research Handbook on Knowledge Transfer and International Business xiii PART I STRATEGIC PERSPECTIVE OF KNOWLEDGE TRANSFER 1. Intra-firm trade, embeddedness and international knowledge transfer in the multinational enterprise 2 Nigel Driffield, James H. Love and Stefano Menghinello 2. Knowledge transfer and absorptive capacity in the context of a small multinational enterprise: a systematic study of the nexus of relationships 26 Jan-Tore Øian, Olli Kuivalainen and Heini Vanninen 3. Reverse knowledge transfer in multinational companies: evidence from Swiss manufacturing industry 48 Lamia Ben Hamida 4. Intellectual property institutions and innovation of emerging multinational companies 62 Jie Wu PART II SOCIETAL AND HUMAN RESOURCE PERSPECTIVE OF KNOWLEDGE TRANSFER 5. Social media as a knowledge transfer tool for intellectual capital accumulation during the international growth of small firms 84 Matti Saari, Minnie Kontkanen, Ahmad Arslan and Pia Hurmelinna-Laukkanen 6. Knowledge exchange within multi-stakeholder initiatives: tackling the Sustainable Development Goals 108 Jerra Veeger and Michelle Westermann-Behaylo 7. Global talent mobility and knowledge diffusion: the role of staffing agencies in the growth of East Asian high-tech multinational corporations 136 Mayumi Tabata PART III SUBSIDIARY KNOWLEDGE CREATION AND DEVELOPMENT 8. Technological overlap and cultural distance in MNCs’ location choice of technological clusters in China 159 Shuna Shu Ham Ho and Chang Hoon Oh 9. Building ambidextrous capabilities in foreign subsidiaries: evidence from Korean multinationals 177 Jae Eun Lee, Byung Il Park and Yong Kyu Lew 10. Utilization of subsidiary knowledge in multinational enterprises: revisiting the SECI model 195 Jong Min Lee 11. Absorptive capacity, value creation and new service development in multinational enterprises: the role of knowledge flows between customers, subsidiaries and headquarters 210 Tiina Leposky, Ahmad Arslan, Ismail Gölgeci and Deborah Callaghan Index 226

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Book SynopsisTrade Review‘This collection delivers what it promises—a broad-based, quantifiable total business solution approach to anticounterfeiting efforts. …The total business solution approach provides a valuable playbook for in-house brand protection practitioners and is critical reading for those responsible for brand protection activities within an organization. But it is also useful for outside counsel and trademark practitioners generally to better understand the business perspective and gain insight on how to counsel toward a proactive approach.’ -- The Trademark Reporter‘The book offers a detailed range of actionable strategies and suggests alternatives to traditional approaches, making it an important read for those in the brand protection space.’ -- Trevor Little, World Trade Review‘Just got my copy of Jeremy Wilson's book Brand Protection and the Global Risk of Product Counterfeits. I'm only two chapters in and already I am thrilled! It's the brand protection book I've been waiting for my whole career. Once done I'll write up a full review, but I wanted to take a quick moment to encourage all brand protection professionals to grab a copy right now – you won't be disappointed.’ -- William Mansfield, ABRO Industries, Inc. and University of Saint Francis, US‘I wish I had this book when I first started in brand protection. Back then, I was in learning mode and constantly seeking sources to inform my strategy and approach. What I found was that there wasn’t a lot of practical information readily available about how to combat the problem of illicit trade. With this volume, Jeremy and his cast of expert contributors have helped to fill this gap in practical knowledge in the field. They’ve laid out a very prescriptive approach about how to build a comprehensive, end-to-end solution—or “total business solution”—to brand infringement. This book provides an excellent foundation and reference for practitioners and decision makers about what it takes to protect your patients, customers, brands, and business from bad actors in the marketplace.’ -- Richard Kaeser, Johnson & Johnson, USTable of ContentsContents: Foreword by Richard Kaeser xiv Preface xvii PART I INTRODUCTION TO BRAND PROTECTION AND THE GLOBAL RISK OF PRODUCT COUNTERFEITS 1 The brand protector’s dilemma and the total business solution 2 Jeremy M. Wilson PART II ASSESSING THE NATURE OF PRODUCT COUNTERFEIT RISK 2 Building and optimizing a brand protection program: a total business solution model 19 Jeremy M. Wilson and Clifford A. Grammich 3 Risk management and risk assessment for brand protection 37 Sean O’Hearen 4 Combatting illicit trade: understanding consumer motivations 59 Peggy E. Chaudhry and John Reiners PART III MITIGATING THE RISK OF COUNTERFEIT PRODUCTS 5 Brand protection and organizational silos: integrating tactics and firm functions in the fight against counterfeits 78 Jeremy M. Wilson and Clifford A. Grammich 6 Options for mitigating the risk of product counterfeits: lessons from research and practice 104 Jeremy M. Wilson and Clifford A. Grammich 7 Communicating the value of brand protection through a persuasive internal communications approach 128 Kami J. Silk, Brandon D.H. Thomas, Ashley Paintsil and Jeremy M. Wilson PART IV RESOURCE ALLOCATION FOR AND MEASURING THE VALUE OF BRAND PROTECTION PROGRAMS 8 Counterfeiting and anti-counterfeiting costs: an application of cost of quality concepts 141 B. William Demeré, Karen L. Sedatole and Jeremy M. Wilson 9 Performance measurement for brand protection: a strategic scorecard approach 159 Sean O’Hearen 10 Determining the value of brand protection programs: identifying and assessing performance metrics in brand protection 188 Jeremy M. Wilson, Clifford A. Grammich, B. William Demeré and Karen L. Sedatole PART V THE TOTAL BUSINESS SOLUTION IN PRACTICE 11 Brand protection: creating an enforcement framework for action 209 Warren MacInnis 12 Product integrity for patient safety: a Pfizer case study 218 Chanterelle Sung 13 Calculating brand protection impact 227 John Carriero 14 The never-ending brand protection conundrum 240 Vivian Vassallo PART VI TENETS OF THE TOTAL BUSINESS SOLUTION 15 Implementation of a total business solution for brand protection: core principles in theory and practice 248 Jeremy M. Wilson Index 268

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Book SynopsisThis timely book introduces Reijo Luostarinenâs Helsinki Model of firm internationalization processes to a new audience. As one of the neglected treasures of the field of International Business (IB), the Helsinki Model has remained largely inaccessible to a global readership â until now.

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Book SynopsisThis book provides a comprehensive introduction to the international negotiation system â its key elements and processes, what major issues and challenges it faces today, and its impacts on international relations. As a major catalyst of global dynamics, negotiation can resolve conflicts and promote cooperation peacefully. It is important to understand how it works.First, the book analyzes the principal factors that interact to move the negotiation system forward â the issues and context, actors, structures, strategies, and outcomes. Then, this book considers four basic subprocesses of international negotiation â getting to the table, conducting negotiations, developing implementation plans as part of the negotiation, and continuing negotiations in the post-agreement period. Relevant research is presented in each chapter to elaborate on these dynamics and offer case studies of negotiations addressing intrastate conflict, the environment, terrorism, anticorruption and good governance, and post-agreement issues. In addition, the book examines major conflictual conundrums currently facing the world in the Middle East and Ukraine to explore opportunities for negotiated solutions.This book provides a solid mix of theory, research, and real-world cases that offers readers a comprehensive appreciation of the field and how it is put to use on a practical level. It will serve as an excellent basic text for university classes in international relations, peace studies, conflict resolution, and international negotiation.

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Book SynopsisDrawing on a trove of personal accounts and cutting-edge research, a “timely and extremely important” book (The Washington Post) from the acclaimed, award-winning author of Thank You, Mr. Nixon that shows how our worldviews are shaped—and what that might mean for the shared future of the United States and China. As East and West become more and more entwined, we also continue to baffle one another. What’s more important—self-sacrifice or self-definition? Do we ultimately answer to something larger than ourselves—a family, a religion, a troop? Or is our mantra “To thine own self be true”?   Gish Jen shows how our worldviews are shaped by what cultural psychologists call independent and interdependent models of selfhood. Coloring what we perceive, remember, do, make, and tell, imbuing everything from our ideas about copying to our conceptions of human rights, these models help explain why the

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Book SynopsisThis new and fully updated edition of International Financial Management blends theory, data analysis, examples and practical case situations to equip students and business leaders with the analytical tools they need to make informed financial decisions and manage the risks that businesses face in today''s competitive global environment. Combining theory and practice, the authors offer the reader a multitude of real-world examples and case studies, emphasising fundamental concepts, principles and analytical theories to enable students to understand not only what to do when confronted with an international financial decision, but why that choice is the correct one. Features include: real data analysis - all fully updated for the third edition; extended cases illustrating practical application of theory; point-counterpoints offering insight into contentious issues; concept boxes that explore and illustrate key concepts; and end-of-chapter questions. Suitable for M.B.A and advanced underTrade Review'This book covers the economics behind exchange rate movements and also provides well-thought-out examples of how to mitigate the risk of such movements. It is rigorous enough to challenge quantitative M.B.A.s yet also builds from core fundamentals such that first-time students of international finance can grasp the material. I have used this book for years in M.B.A. and Executive M.B.A. courses.' Karl V. Lins, Spencer Fox Eccles Endowed Chair in Banking and Professor of Finance, David Eccles School of Business, University of Utah'This new edition of International Financial Management is the perfect text for both undergraduate and graduate courses on the subject. Its pedagogical approach helps students appreciate the dynamic world of international finance where understanding tradeoffs in a complex environment is essential for decision-making. Pedagogically sound, academically rigorous, and intellectually engaging - this is a great book for challenging and enriching students.' Robin L. Lumsdaine, Crown Prince of Bahrain Chair of International Finance, Kogod School of Business, American University, Washington DCTable of ContentsPreface; 1. Globalization and the multinational corporation; Part I. Introduction to Foreign Exchange Markets and Risks: 2. The foreign exchange market; 3. Forward markets and transaction exchange risk; 4. The balance of payments; 5. Exchange rate systems; Part II. International Parity Conditions and Exchange Rate Determination: 6. Interest rate parity; 7. Speculation and risk in the foreign exchange market; 8. Purchasing power parity and real exchange rates; 9. Measuring and managing real exchange risk; 10. Exchange rate determination and forecasting; Part III. International Capital Markets: 11. International debt financing; 12. International equity financing; 13. International capital market equilibrium; 14. Country and political risk; Part IV. International Corporate Finance: 15. International capital budgeting; 16. Additional topics in international capital budgeting; 17. Risk management and the foreign currency hedging decision; Part V. Managing Ongoing Operations: 18. Financing international trade; 19. Managing net working capital; Part VI. Foreign Currency Derivatives: 20. Foreign currency futures and options; 21. Interest rate and foreign currency swaps; Glossary; Index.

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Book SynopsisThe Laws of Globalization and Business Applications provides a rigorous but readable data-driven discussion of globalization at the world, country, industry and firm levels. Supported by a free online appendix with a wealth of additional analysis, it is aimed at academics, students and thoughtful practitioners in business and public policy.Trade Review'In a world where most conversations about globalization are characterized by sweeping generalizations and self-serving misrepresentations, The Laws of Globalization and Business Applications is an indispensable resource for students and scholars of business, economics, and public policy. And nobody is more qualified and trusted to write such a boldly-titled book than Professor Ghemawat, who for decades has championed clarity and truth in the subject as a leading researcher and advisor. That's why he was invited to serve on AACSB's task force on the globalization of management education and author its recommendations on what to teach students about globalization, and how.' Dan LeClair, Executive Vice President and Chief Strategy and Innovation Officer, AACSB International, Florida'Any business that has encountered, and possibly suffered from, administrative, cultural, geographic or other differences in the course of international expansion or investment, will find much to empathize with in Dr. Ghemawat's new book. He presents a cogent case for why globalization is actually a long drawn out process conditioned by the two “laws” referenced in the title, rather than a simple fact. Of particular importance, is his detailed analysis of firm-level data to illustrate what is really at work in the so-called “globalization of business”. The book will be a useful guide to any business that seeks international markets or supply chains as well as scholars of these phenomena.' Victor K. Fung, Group Chairman, Fung Group and Honorary Chairman, Li & Fung Limited'A treasure trove of data, insightful (and often graphic) analysis, and references, The Laws of Globalization and Business Applications is essential reading for anyone seeking to measure and understand economic globalization. In contrast to “the world is flat” view, Ghemawat convincingly demonstrates that globalization remains relatively shallow and strongly constrained by distance. While largely a chronicle of globalization over the last two decades, this book also provides a warning regarding the difficulty of unwinding global interdependence, which is more timely than ever, given Brexit and other recent developments!' Donald R. Lessard, Epoch Foundation Professor of International Management, Emeritus, MIT Sloan School of Management'For some time now, there has been an incredible amount of hype about the advent of globalization. As significant as this phenomenon might have been, it has surely been exaggerated by both the popular press and, more worryingly, by academics too. In the last few years, Pankaj Ghemawat has embarked on a much needed crusade to document the actual depth and breadth of this globalization process. The picture that emerges from this academic endeavor is much more nuanced that the one often portrayed in the literature. This magnificent book overviews much of Ghemawat's recent work on this topic and should appeal to a broad range of social scientists interested in globalization.' Pol Antràs, Robert G. Ory Professor of Economics, Harvard University'Globalization is taking a beating partly because of our poor understanding of the phenomenon. This well-organized, meticulously researched book is a breath of fresh air in this respect, and is best read cover to cover. Once you have done so, you will reject the hype about globalization as an overpowering force and better recognize the patterns to which it is subject. And that has implications for how globalization should be thought about in a broad range of fields, not just international economics and international business.' Bernard Yeung, Dean and Stephen Riady Distinguished Professor of Finance and Strategic Management, National University of Singapore (NUS)'Pankaj Ghemawat makes readers think again about globalization from new, non-conventional perspectives, always based on data. In this insightful and well-researched book, he describes some key patterns in the globalization process and offers very useful strategic reflections for international companies' senior executives and policymakers on the implications of the semiglobalized world we live in.' Jordi Canals, Dean and Professor of Economics and Strategic Management, IESE Business SchoolTable of ContentsIntroduction; Part I. The Law of Semiglobalization: 1. Defining and measuring globalization with Steven A. Altman; 2. The depth of globalization; 3. Globalization in historical perspective with Geoffrey G. Jones; 4. The globalization of business; Part II. The Law of Distance: 5. The breadth of globalization and distance; 6. Distances at industry and company level with Steven A. Altman; 7. Distance and international business research with Steven A. Altman; Part III. Business Applications: 8. Cultural distance and national cultural differences with B. Sebastian Reiche; 9. Administrative distance and institutional variety with Thomas M. Hout; 10. Geographic distance and regionalization with Steven A. Altman; 11. Economic distance and the big shift to emerging economies with Steven A. Altman; Index.

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Book SynopsisWith a population of about six hundred million people, and a combined GNP of more than US$ 2.4 trillion, the ASEAN Economic Community (AEC) is set to become the seventh largest economy in the world. Launched in December 2015, the AEC unveiled initiatives to create a single market and production zone, a competitive and equitable region, and integrated links to the global economy. ASEAN Champions seeks to address the role of the strong local firms in regional integration, how these 'champions' succeeded and endured, despite facing adverse circumstances, and the factors that facilitated or impeded their participation in regional integration. The book provides insights for future firm and government-led strategies to enhance the integration process. By complementing current narratives that focus on macroeconomic, socio-political, and trade considerations, Park, Ungson and Francisco offer an enlightening and engaging read, ideally suited to academics and professionals alike.Table of ContentsPart I. The Antecedents of ASEAN Integration: 1. Our core arguments; 2. Mapping ASEAN integration; 3. Toward an ASEAN economic community; Part II. ASEAN Champions: Strategies for Enduring Success: 4. Preserving institutional legacy; 5. Leveraging market power; 6. Pioneering marketing strategies; 7. Deepening localization; 8. Fostering internationalization; 9. Building synergy; 10. Nurturing human capital; Part III. Strategic Imperatives and Policy Implications: 11. Implications for management and policy; 12. Epilogue.

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Book SynopsisFor forty years, successive editions of Ethical Theory and Business have helped to define the field of business ethics. The 10th edition reflects the current, multidisciplinary nature of the field by explicitly embracing a variety of perspectives on business ethics, including philosophy, management, and legal studies. Chapters integrate theoretical readings, case studies, and summaries of key legal cases to guide students to a rich understanding of business ethics, corporate responsibility, and sustainability. The 10th edition has been entirely updated, ensuring that students are exposed to key ethical questions in the current business environment. New chapters cover the ethics of IT, ethical markets, and ethical management and leadership. Coverage includes climate change, sustainability, international business ethics, sexual harassment, diversity, and LGBTQ discrimination. New case studies draw students directly into recent business ethics controversies, such as sexual harassment at Fox News, consumer fraud at Wells Fargo, and business practices at Uber.Table of ContentsPreface; 1. Ethical theory and business practice; 2. The rights and responsibilities of employees; 3. Managing, leading and governing; 4. Diversity and discrimination in the workplace; 5. Corporate social responsibility; 6. Ethics and information technology; 7. Marketing ethics; 8. Environmental sustainability; 9. Ethical issues in international business; 10. Ethical markets; 11. Economic justice.

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Book SynopsisAn excellent reference for applied economists,Macroeconomics for Professionals offers a guide to the practical tools of macroeconomic analysis,explaining succinctly the mainstream analytic frameworks for assessing developments and policies.Trade Review'Leslie Lipschitz and Susan Schadler provide a superb road map for assessing a country's policies. It is relevant not only for new IMF economists but also for analysts in investment banks, rating agencies, finance ministries, and central banks, as well as for economic journalists seeking to bridge the gap between theory and real-world practice.' Peter Heller, Finance & Development'The authors of this invaluable book are former economists at the International Monetary Fund. The book is written for professional economists and those who try to make sense of what they write. For such readers, it will show how to apply theoretical ideas and concepts to actual economies. It covers everything that matters in macroeconomics: the real economy, prices, monetary policy, fiscal policy, financial stability and the external accounts. Among potential users, frustrated students are likely to find it particularly helpful.' Martin Wolf, 'Summer books of 2019', Financial TimesTable of Contents1. Introduction, motivation, and overview; 2. Real economic activity; 3. Inflation, relative prices, and expectations; 4. Monetary policy and accounts; 5. The fiscal system; 6. Financial stability; 7. The external accounts.

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Book SynopsisNow in its eighth edition, this is the textbook for current and future global leaders wanting to lead competently and sustainably in their business practices. Fully updated, the authors build on their forty years of teaching, researching and working with managers worldwide to bring students the latest developments in global business practice. Now including end-of-chapter reflection questions to guide topic comprehension, and directed further resources to assist individual research, this edition also sees the return of Ivey Business School and IMD cases in the book. This edition also includes a new conception of mindful global leadership as the integrating framework for execution of global strategy, highlighting the importance of a holistic approach to working across cultures and distance. Combining a wealth of theoretical knowledge with real-world examples from diverse cultures, countries and industry sectors, the practical guidance and well-chosen examples throughout the book bring key concepts to life.Trade Review'This is a thoroughly updated version of the authors' successful and important guide book for international managers and students. Starting from an inspiring discussion of fundamental international management questions (including globalization, the global mindset, and complexity) the book moves on to an in-depth analysis of key aspects of international management behaviour. Practicable frameworks, striking case studies, and guidance on 'mindfulness' will help readers apply these insights to the multiple situations of interacting with international colleagues, customers and suppliers.' Angelika Zimermann, University of Loughborough'No wonder this book is now in its eight edition! Prolific researchers and educators of the highest calibre, Lane and Maznevski navigate the sea of ever-expanding international and cross-cultural management research with steady hands. The veteran authors have given us a book that offers a refreshing combination of strong theoretical foundations, specific real-life examples, and generalizable practical applications for those working in a turbulent global environment. The book covers a diverse set of contemporary topics ranging from individual skills and leadership competencies to responsibly executing sustainable business strategies for optimal company performance and contains a carefully curated set of cases that illustrate and extend the key points advanced by the chapters. It is accessible in terms of writing style but it also challenges its readers to be mindful of the complexity of global management in twenty-first century. This book is not only 'useful', it is downright enjoyable!' Mila Lazarova, Simon Fraser University, Canada'The sixth edition and seventh edition have served me well in teaching classes of advanced undergraduates and MBA students in the US and Taiwan. I greatly appreciate the inclusion of carefully chosen cases within the eighth edition, and also the new option of interactive multimedia business cases. I look forward to using this exciting new edition.' Malika Richards, President of the Women in the Academy of International Business (WAIB), Pennsylvania State University'International Management Behavior, now in its eighth edition, has been a staple of educators teaching international business and international management courses since the first edition. I remember when I first discovered it many years ago - at the time it was virtually the only textbook available that addressed international management and I eagerly adopted it for my courses. Since that time, this has become a seminal textbook in the field - a classic - because it has stood the test of time. With every revision, the authors have kept it up to date based on new, empirical research that they have folded into the book's pedagogical framework. This textbook should be on the bookshelf of anyone who teaches international business or international management.' Mark Mendenhall, Chair of Excellence in Business Leadership Management, University of Tennessee'The eighth edition of International Management Behavior by Lane and Maznevski is a very welcome addition to the international management literature. This is a much-revised edition of this text and the subtitle Global and Sustainable Leadership is apt. It is this concept that is at the core of this volume, and which sets it apart. No other resource deals with the topic of global leadership in as comprehensive a manner. In addition, the return of excellent teaching cases to this edition, combined with its practical focus, make it an extremely useful tool in the classroom.' David C. Thomas, Simon Fraser University, Canada'The eighth edition of International Management Behavior continues to be the leading book in the practical application of international management concepts all in the service of developing mindful, agile, and socially responsible global leaders. The book, through its deft critiques of company strategies interwoven with crystal clear summaries of contemporary management and leadership theory, makes the much-talked-about concept of 'global mindset' completely accessible to students and practicing managers in all organizations. I've used International Management in advanced undergraduate, graduate/post graduate courses, with consistently the same results: lively, thoughtful, and reflective discussion that challenges and changes individual behavior.' Alfred Rosenbloom, Dominican University, IllinoisTable of ContentsPart I. The New Global Context: 1. Global leaders in the twenty-first century; 2. Mindful global leadership; 3. Understanding culture: through the looking glass; Part II. Leading People Across Contexts: 4. Interpersonal skills for international management: map-bridge-integrate for effectiveness at the point of action; 5. Leading global teams; 6. Talent management: selection, preparation and mobility of global leaders; Part III. Executing Strategy and Performance: 7. Executing global strategy: foundations; 8. Executing global strategy: applications; 9. Leading change in global organizations; Part IV. Integrity and Sustainable Performance: 10. Competing with integrity: personal integrity; 11. Competing with integrity: corporate sustainability; 12. Conclusion.

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Book SynopsisDigital platforms controlled by Alibaba, Alphabet, Amazon, Facebook,Netflix, Tencent and Uber have transformed not only the ways we do business, but also the very nature of people''s everyday lives. It is of vital importance that we understand the economic principles governing how these platforms operate. This book explains the driving forces behind any platform business with a focus on network effects. The authors use short case studies and real-world applications to explain key concepts such as how platforms manage network effects and which price and non-price strategies they choose. This self-contained text is the first to offer a systematic and formalized account of what platforms are and how they operate, concisely incorporating path-breaking insights in economics over the last twenty years.Trade Review'This is a promising textbook for anyone eager to understand platforms as a business model and an economic concept. The book's systematic review of platform theories — in a wonderful mix of digestible algebra, intuitive explanation, and real world cases — is very much needed, especially when the public discussion about platforms is riddled with anecdotes and speculations. I cannot wait for the second book in this series, which will focus more on the concurrent policy debates about platforms. Both books have the potential to become a 'go-to' reference for platform economics, and to hopefully foster a deeper, healthier, and more comprehensive discussion about platform-related policies.' Ginger Zhe Jin, University of Maryland'This is the book many have been waiting for. A book that takes two decades of new research into platform economics and synthesizes them for students and researchers. It will itself be the platform for others to build upon.' Joshua Gans, University of Toronto'It's hard to imagine our lives without platforms. We use them in virtually all areas of our daily lives, both privately and professionally: for our social contacts and to inform ourselves, to buy books, clothes and tools, to listen to music and watch movies, to sell old furniture, rent rides, housing opportunities and much more. The influence of the large platforms in particular has become so dominant that they are increasingly coming under the scrutiny of competition authorities, with major competition proceedings looming on the horizon. Belleflamme and Peitz's book could not have been published at a better time. Suitable for more and less technically interested readers alike, the book offers a helpful introduction to the not always easy subject matter. I expect it to become an invaluable companion for students, researchers, practitioners, and policymakers in the years to come.' Monika Schnitzer, Ludwig-Maximilians-University Munich'Questions about digital platforms are paramount in today's economy. Belleflamme and Peitz have written a book for people who want to understand many of the drivers of success that have been hypothesized by economists. This is a very useful book to read for people who are interested in policy or firm strategy. It is particularly valuable because unlike many textbooks it focuses on the cutting edge of economics research.' Catherine Tucker, Massachusetts Institute of Technology'Paul Belleflamme and Martin Peitz put their many years of research and policy work into this comprehensive book that covers the key economic and policy aspects of platforms, which have been playing an increasingly important role in our lives. The authors successfully walk the tightrope between rigor and accessibility for a broader audience, making it an ideal book for those seeking an introduction to platform economics. Key aspects of network effects, direct and indirect externalities, pricing, and platform design strategies are covered in depth, balancing theoretical concepts with empirical facts and case studies. The Economics of Platforms: Concepts and Strategy will surely provide an excellent resource and reference for policy makers, business practitioners, researchers, and students of both undergraduate and graduate level programs.' Steve Tadelis, University of California, Berkeley'A comprehensive and rigorous exposition of the economic analysis of platforms. The book covers in an accessible way a wide range of topics such as design, information management, pricing, or start-up. The presentation is clear, including material at the forefront of the economic literature. Written by two leading scholars in the domain, the book caters to a wide range of readers, from students and professors to businessmen and policy makers, with minimum economic background. A must-read for anyone interested in the economics of platforms.' Bruno Jullien, Toulouse School of Economics'Numerous books have been written about platforms but none of them cover the economics behind platforms in any depth. This path-breaking book fills the gap, covering the key concepts and applications of platform strategy in an accessible but thorough way. As well as being a must-read for practitioners and academic scholars who want to understand platform strategy, it is an ideal textbook for business school or economics courses on the digital economy or platforms. Extensive real world cases from around the world bring to life the economic analysis and numerical examples.' Julian Wright, National University of SingaporeTable of ContentsPrologue; 1. Platforms: Definitions and Typology; 2. Ratings, Recommendations and the Use of Big Data; 3. An Economic Primer on Network Goods; 4. Growing a Platform; 5. Platform Pricing; 6. Platform Design; Epilogue.

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Book SynopsisDigital platforms controlled by Alibaba, Alphabet, Amazon, Facebook,Netflix, Tencent and Uber have transformed not only the ways we do business, but also the very nature of people''s everyday lives. It is of vital importance that we understand the economic principles governing how these platforms operate. This book explains the driving forces behind any platform business with a focus on network effects. The authors use short case studies and real-world applications to explain key concepts such as how platforms manage network effects and which price and non-price strategies they choose. This self-contained text is the first to offer a systematic and formalized account of what platforms are and how they operate, concisely incorporating path-breaking insights in economics over the last twenty years.Trade Review'This is a promising textbook for anyone eager to understand platforms as a business model and an economic concept. The book's systematic review of platform theories — in a wonderful mix of digestible algebra, intuitive explanation, and real world cases — is very much needed, especially when the public discussion about platforms is riddled with anecdotes and speculations. I cannot wait for the second book in this series, which will focus more on the concurrent policy debates about platforms. Both books have the potential to become a 'go-to' reference for platform economics, and to hopefully foster a deeper, healthier, and more comprehensive discussion about platform-related policies.' Ginger Zhe Jin, University of Maryland'This is the book many have been waiting for. A book that takes two decades of new research into platform economics and synthesizes them for students and researchers. It will itself be the platform for others to build upon.' Joshua Gans, University of Toronto'It's hard to imagine our lives without platforms. We use them in virtually all areas of our daily lives, both privately and professionally: for our social contacts and to inform ourselves, to buy books, clothes and tools, to listen to music and watch movies, to sell old furniture, rent rides, housing opportunities and much more. The influence of the large platforms in particular has become so dominant that they are increasingly coming under the scrutiny of competition authorities, with major competition proceedings looming on the horizon. Belleflamme and Peitz's book could not have been published at a better time. Suitable for more and less technically interested readers alike, the book offers a helpful introduction to the not always easy subject matter. I expect it to become an invaluable companion for students, researchers, practitioners, and policymakers in the years to come.' Monika Schnitzer, Ludwig-Maximilians-University Munich'Questions about digital platforms are paramount in today's economy. Belleflamme and Peitz have written a book for people who want to understand many of the drivers of success that have been hypothesized by economists. This is a very useful book to read for people who are interested in policy or firm strategy. It is particularly valuable because unlike many textbooks it focuses on the cutting edge of economics research.' Catherine Tucker, Massachusetts Institute of Technology'Paul Belleflamme and Martin Peitz put their many years of research and policy work into this comprehensive book that covers the key economic and policy aspects of platforms, which have been playing an increasingly important role in our lives. The authors successfully walk the tightrope between rigor and accessibility for a broader audience, making it an ideal book for those seeking an introduction to platform economics. Key aspects of network effects, direct and indirect externalities, pricing, and platform design strategies are covered in depth, balancing theoretical concepts with empirical facts and case studies. The Economics of Platforms: Concepts and Strategy will surely provide an excellent resource and reference for policy makers, business practitioners, researchers, and students of both undergraduate and graduate level programs.' Steve Tadelis, University of California, Berkeley'A comprehensive and rigorous exposition of the economic analysis of platforms. The book covers in an accessible way a wide range of topics such as design, information management, pricing, or start-up. The presentation is clear, including material at the forefront of the economic literature. Written by two leading scholars in the domain, the book caters to a wide range of readers, from students and professors to businessmen and policy makers, with minimum economic background. A must-read for anyone interested in the economics of platforms.' Bruno Jullien, Toulouse School of Economics'Numerous books have been written about platforms but none of them cover the economics behind platforms in any depth. This path-breaking book fills the gap, covering the key concepts and applications of platform strategy in an accessible but thorough way. As well as being a must-read for practitioners and academic scholars who want to understand platform strategy, it is an ideal textbook for business school or economics courses on the digital economy or platforms. Extensive real world cases from around the world bring to life the economic analysis and numerical examples.' Julian Wright, National University of SingaporeTable of ContentsPrologue; 1. Platforms: Definitions and Typology; 2. Ratings, Recommendations and the Use of Big Data; 3. An Economic Primer on Network Goods; 4. Growing a Platform; 5. Platform Pricing; 6. Platform Design; Epilogue.

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Book SynopsisTechnological change has transformed the ways knowledge is developed and shared internationally. Accordingly, in the quarter-century since the WTO was established, and since its Agreement on Trade-Related Aspects of Intellectual Property Rights came into force, both the knowledge dimension of trade and the functioning of the IP system have been radically transformed. The need to understand and respond to this change has placed knowledge at the centre of policy debates about economic and social development. Recognizing the need for modern analytical tools to support policymakers and analysts, this publication draws together contributions from a diverse range of scholars and analysts. Together, they offer a fresh understanding of what it means to trade in knowledge in today''s technological and commercial environment. The publication offers insights into the prospects for knowledge-based development and ideas for updated systems of governance that promote the creation and sharing of the Table of Contents1. Thematic overview: Charting the evolution of knowledge flows Antony Taubman and Jayashree Watal; Part I. Conceptual framework: 2. The shifting contours of trade in knowledge: the new 'trade-related aspects' of intellectual Property Antony Taubman; 3. How digitization is transforming trade Lee Tuthill, Antonia Carzaniga and Martin Roy; 4. Intellectual property and digital trade -mapping international regulatory responses to emerging issues Wolf R. Meier-Ewert and Jorge Gutierrez; Part II. Measuring trade in knowledge: 5. Measuring international intellectual property transactions in a globalized world: current challenges and possible improvements Joscelyn Magdeleine and Andreas Maurer; 6. A missing link in the analysis of global value chains: Cross-border flows of intangible assets, taxation and related measurement implications Thomas Neubig and Sacha Wunsch-Vincent; 7. Global ebbs and flows of patent knowledge Andrew W. Torrance, Jevin D. West, and Lisa C. Friedman; 8. Sources of knowledge flow between developed and developing countries Laurie Ciaramella, Gaétan De Rassenfosse and Florian Seliger; 9. Using intellectual property data to measure cross-border knowledge flows Jacob Dubbert, Alexander V. Giczy, Nicholas Pairolero and Andrew A. Toole; 10. The Global Digital Content Landscape Erick Oh; 11. Cross-border knowledge flows through R&D FDI: Implications for LMMICs Vito Amendolagine, Cristina Chaminade, José Guimón and Roberta Rabellotti; 12. The innovation environment and knowledge diffusion: improving policy decisions through patent analytics Holger Ernst, Carsten C. Guderian and Marco Richter; Part III. Impact of knowledge flows on trade and development: 13. Global knowledge flows, absorptive capacity, and capability acquisition: old ideas, recent evidence, and new approaches Lee Branstetter and Keith E. Maskus; 14. Trade in intellectual property-intensive goods Mercedes Delgado and Margaret Kyle; 15. Knowledge spillovers through international supply chains Roberta Piermartini and Stela Rubínová; 16. How do patents shape global value chains? International and domestic patenting and value-added Trade Nikolas J. Zolas and Travis J. Lybbert; 17. The enforcement of intellectual property rights in a digital Era Michael D. Smith and Rahul Telang; 18. The digital creative economy and blockchains: options and prospects for the developing world Keith Nurse, Erica Smith, Kayla Grant and Alicia Shepherd; Part IV. Policy, regulatory and legislative frameworks; 19. Streaming of music and audiovisual works Mary Lafrance; 20. Adapting trade rules for the age of big data Mira Burri; 21. Trade in knowledge and cross-border data flows: a look at emerging digital regulatory issues Nigel Cory; 22. Cross-border knowledge flows under international trade agreements: a need for new multilateral disciplines? Lucas Spadano and Luiza Tângari Coelho; 23. The need for a global framework for knowledge transactions: cross border licensing and enforcement Jacques de Werra and Jeff C. Dodd; 24. Fitting machine-generated data into trade regulatory holes Peter K. Yu; 25. Looking forward Antony Taubman.

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Book SynopsisA state-of-the-art psychological perspective on positivity and strengths-based approaches at work This handbook makes a unique contribution to organizational psychology and HRM by providing comprehensive international coverage of the contemporary field of positivity and strengths-based approaches at work. It provides critical reviews of key topics such as resilience, wellbeing, hope, motivation, flow, authenticity, positive leadership and engagement, drawing on the work of leading thinkers including Kim Cameron, Shane Lopez, Peter Clough and Robert Biswas-Diener.Table of ContentsAbout the Editors vii About the Contributors ix Foreword xv Series Preface xvii Supported Charity: Railway Children xix 1 The Psychology of Positivity and Strengths‐Based Approaches at Work 1Lindsay G. Oades, Michael F. Steger, Antonella Delle Fave, and Jonathan Passmore Part I Individual Approaches to Positive Psychology at Work 9 2 The Psychology of Positivity at Work 11Suzy Green, Michelle McQuaid, Alicia Purtell, and Aylin Dulagil 3 Psychological Strengths at Work 34Robert Biswas‐Diener, Todd B. Kashdan, and Nadezhda Lyubchik 4 Hope at Work 48Christian A. Wandeler, Susana C. Marques, and Shane J. Lopez 5 Creating Meaning and Purpose at Work 60Michael F. Steger 6 Optimal Motivation at Work 82Christopher P. Niemiec and Gordon B. Spence 7 Flow at Work 99Mihaly Csikszentmihalyi, Sonal Khosla, and Jeanne Nakamura 8 Mindfulness at Work 110Gordon B. Spence 9 Resilience at Work 132Andrew Denovan, Lee Crust, and Peter J. Clough 10 Mental Fitness at Work 150Paula Robinson and Lindsay G. Oades 11 Positive Relationships at Work 171Sue Roffey 12 Humility at Work 191Don E. Davis, Joshua N. Hook, Cirleen DeBlaere, and Vanessa Placeres 13 Compassion at Work 210Tim Anstiss Part II Organizational Approaches to Positive Psychology at Work 231 14 Good Work: The Meaning‐Centered Approach (MCA) 233Paul T. P. Wong, Itai Ivtzan, and Tim Lomas 15 Workplace and Organizational Well‐Being 248Lindsay G. Oades and Aylin Dulagil 16 Positive Approaches to Organizational Change 272Stefan P. Cantore 17 Positive Approaches to Leadership Development 297Doug MacKie 18 Employee Engagement 317Sebastiaan Rothmann 19 Job Crafting 342Gavin R. Slemp 20 Positive Approaches to Mid‐Life Careers 366Sung‐Kyung Yoo and Hyjin Lee 21 Positive Organizations and Maturing Workers 389Jeanette N. Cleveland, Gwenith G. Fisher, and Kevin M. Walters 22 Positive Psychological Assessment for the Workplace 415Aaron Jarden and Rebecca Jarden Part III International Business Applications of Positive Psychology 439 23 Well‐Being in Health Professionals: Positive Psychology at Work 441Ulrich Wiesmann 24 The Well‐Being of Teachers and Professors 466Brittany Branand and Jeanne Nakamura 25 The Well‐Being of Information Technology Professionals 491Kamlesh Singh and Mohita Junnarkar 26 Well‐Being in the Arts and Crafts Sector 508Antonella Delle Fave and Gaja Zager Kocjan 27 The Well‐Being of Workers in the Agricultural Sector 527Lawrence Soosai‐Nathan and Antonella Delle Fave Index 546

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Book SynopsisNavigate cross border M&A for a flawless integration execution Cross Border Mergers and Acquisitions is a practical toolbox for corporate strategy and development professionals dealing with the many challenges involved in cross border M&A. With a detailed discussion of key market specifics and broadly-applicable critical insight, this book demystifies the cross border M&A process and provides a host of practical tools that ease strategic implementation. A geographical overview explains the trends in major M&A markets including Australia, Brazil, China, Russia, the U.K., and the U.S., and industry-specific guidance covers Financial Services, Aerospace and Defense, Health Care, Tech, Manufacturing, and more. Leading experts relate lessons learned while managing actual PMI (post merger integration)processes, and the discussion of cultural impacts and specific situational needs provides deep insight into the type of leadership a flawless integration requires. CorporTable of ContentsPreface xi About the Author xv About the Contributors xvii Part One Cross-Border Strategy and Deal Planning Chapter 1 Cross-Border Deal Evolution and Rationale 3Gilles Ourvoie The Evolution of M&A and Cross-Border Deals 4 Strategic Motives 23 Factors Influencing Cross-Border Deals 28 Chapter Checklist 42 Chapter 2 Cross-Border M&A Strategy and Deal Planning Essentials 45Michael Holm M&A Strategy Overview 45 Components of Cross-Border M&A Strategy 50 Responsibilities and Accountability in the Organization 53 Target Company Criteria 56 Prepare and Plan for a Cross-Border Deal 59 Chapter Checklist 63 Chapter 3 Legal, Financial, Social, and Political Interdependencies with Cross-Border Integration 65Andrew Scola Introduction 65 Legal Impact 68 Financial Impact 78 Social Impact 81 Political Implications 82 Managing External Risks and Issues 84 Chapter Checklist 85 Chapter 4 Trends and Leading Practices in Global M&A 87Thomas Kessler Global Transaction Trends in the Post–Financial Crisis World 88 The M&A Life Cycle 89 Developing a Succinct Cross-Border Transaction Strategy 92 Matching M&A Strategy with Transaction Reality 98 Selecting the Right Candidate 102 Planning Cross-Border Due Diligence 105 Defining Successful Options and Strategies for Mitigating Execution Risk in Cross-Border M&A Transactions 107 Chapter Checklist 110 Chapter 5 Cross-Border M&A: Region- and Country-Specific Trends and Deal Planning Tips 111Michael Holm Introduction 111 Some Useful Cross-Border Insights and Tips 118 Understanding Corporate versus Country Cultures When Doing Cross-Border M&A Deals 120 Chapter Checklist 123 Part Two Cross-Border Culture and Leadership Alignment Chapter 6 Leading during Cross-Border M&A 127Scott Whitaker Why Leadership is So Critical during M&A 128 Leadership Responsibilities of Acquiring Companies 129 Leadership Responsibilities of Target Companies 131 Leadership Responsibilities of the Integration Management Office 133 Symptoms of A Leadership Void and How to Address Them 134 Leadership Leading Practices 136 Chapter Checklist 137 Chapter 7 The Role of Culture in Cross-Border M&A 139Christophe Van Gampelaere Understanding Cultural Management 139 Cultural Awareness 141 Strategy and Culture 149 Implementation 156 Chapter Checklist 164 Chapter 8 Managing National Reactions and Sovereignty Issues 167Gilles Ourvoie The Ambivalent Relation between Cross-Border M&A and National Interest 168 Inward Cross-Border Deals: Key Restrictions 174 International Differences and Similarities 189 How to Deal with Sensitive Cross-Border Transactions 190 Conclusion 196 Chapter Checklist 198 Part Three Cross-Border Integration, Planning, and Execution Chapter 9 Managing Pre–PMI Due Diligence 203Eitan Grosbard Introduction 204 Traditional Due Diligence 206 Integrated Due Diligence—360-Degree Due Diligence 219 Conducting the Due Diligence Process 224 Chapter Checklist 228 Chapter 10 Ramping Up an Integration Management Office and Day One in Cross-Border Deals 229Stefan Hofmeyer The Impact of an Integration Management Office on Cross-Border Integration 229 Understanding the Integration Management Office 232 Establishing and Executing the Integration Management Office 237 Day One: Starting the Integrate and Analyze Phases 247 Chapter Checklist 250 Chapter 11 Integration Decision Making and Process Strategy in Cross-Border Deals 251Stefan Hofmeyer Preparation and Localization of Decision Making 251 Primary Decision-Making Tools, Approaches, and Leading Practices 257 Leading Practices for Global Integration Process Change 263 Kaizen-Based Leading Practices 266 Catching the Wave of Change 268 Chapter Checklist 270 Chapter 12 Post-Merger Integration Process, Methodologies, and Tools 273Thomas Kessler The M&A Life Cycle 274 Strategic Selection 275 Integration Due Diligence 279 Pre-Signing 281 Post-Signing 283 Post-Closing 293 Chapter Checklist 298 Chapter 13 Managing Post-Merger Integration Globally 299Eitan Grosbard Introduction 300 Due Diligence 305 Relate 306 Analyze 316 Integrate 318 Chapter Checklist 319 Chapter 14 Country-Specific Trends and Tips for Integration Planning 321Christophe Van Gampelaere Opening 321 A Cultural Overview of the Most Active M&A Regions 323 Anglo-Saxon Regions 324 Asian Countries 328 European Countries and Regions 334 Summary 337 Chapter Checklist 338 Chapter 15 M&A and Post-Merger Integration Considerations for China and Japan 339Robert Ping Yu, Makoto Ideno, and Masaki Yamamoto Overview of M&A Trends in China 339 Issues and Approaches for Inbound M&A in China 343 Issues and Approaches for Outbound M&A from China 353 Chapter Checklist for Part 1: China 356 Overview of M&A and Post-Merger Integration in Japan 357 Issues and Approaches for Outbound M&A and Post-Merger Integration from Japan 358 Issues and Approaches for Inbound M&A and Post-Merger Integration in Japan 361 Chapter Checklist for Part 2: Japan 365 Chapter 16 Cross-Border Synergy Program Management 367Michael Holm Introduction 367 Defining and Validating Synergies 371 Structuring Synergy Programs 376 Critical Actions to Capture Synergies 378 Post-Closing Due Diligence 384 Chapter Checklist 388 Part Four Unique Cross-Border M&A Transaction Scenarios Chapter 17 Managing Carve-Outs and Transition Service Agreements 391Andrew Scola Introduction to Divestitures and Carve-Outs 391 The Context of Divestiture Impacts Carve-Out Processes 392 Divestiture Program Overview 394 Planning a Carve-Out and Transition 395 Program Structure 398 Managing the Transition Service Agreement 407 Chapter Checklist 409 Chapter 18 Joint Ventures 411Thomas Kessler The Joint Venture Life Cycle 411 Chapter Checklist 423 Index 425

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Book SynopsisSTILL MOVING Still Moving: How to Lead Mindful Change sets out an innovative approach for guiding organisations and indeed entire systems through ongoing, disruptive change. It combines Deborah Rowland's own rigorous research into change and its leadership with insights from her extensive field experience helping major global corporations including GlaxoSmithKline, RWE and Shell achieve lasting change with increased productivity, employee engagement and responsible societal impact. It is filled with helpful inspiring stories of leadership and change from the real world and, bravely, the author's own personal journey. Challenging leaders to cultivate both their inner and outer skills necessary for success, Still Moving weaves together the being' and doing' states of leading change and emphasises the importance of a mindful stance and deep systemic perception within a leader. With the goal of collaborative, sustainable change, the book delves into a variety ofTable of ContentsForeword ix Acknowledgements xiii Moved by Stillness xvii 1 Introduction 1 2 Is Change Changing? 11 3 Still Moving – The Inner and Outer Skills 29 4 It All Starts in Mindfulness 57 5 The Power of the Systemic 79 6 Make Disturbance Your Friend 103 7 Holding the Fire 125 8 The Time for Emergence 149 9 A Tale of Still Moving and Business Transformation 173 10 Still Moving and Your Leadership 199 11 The Sense of an Ending 215 Appendix 1 Detailed Still Moving Research Methodology from Chapter 3 227 Appendix 2 Detailed Leadership Development Programme Description from Chapter 9 229 Notes 233 Bibliography and General Recommended Reading 239 Index 241

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Book SynopsisDeep coverage and rigorous examination of international corporate finance Multinational Finance offers an advanced exploration of international corporate finance concepts and operations. Despite its status as one of the most rigorous texts on the topic, this book remains accessible and readable without sacrificing depth of coverage. Sidebars, key terms, essays, conceptual questions, and problems with solutions help aid in the learning process, while suggested readings and PowerPoint handouts reinforce the material and offer avenues for further exploration. This new sixth edition includes Excel templates that allow students to use real-world tools in a learning environment, and the modular structure facilitates course customization to individual objectives, interests, and preparatory level. The emphasis is on the basics of financial management, but coverage includes unique chapters on treasury management, asset pricing, hedging, options, and portfolio management in addiTable of ContentsPreface xi Acknowledgments xv About the Author xvii Part One The International Financial Environment 1 Chapter 1 An Introduction to Multinational Finance 3 1.1 The Goals of the Multinational Corporation 3 1.2 The Challenges of Multinational Operations 5 1.3 The Opportunities of Multinational Operations 6 1.4 Financial Management of the Multinational Corporation 11 1.5 Summary 12 Chapter 2 World Trade and the International Monetary System 15 2.1 Integration of the World’s Markets 15 2.2 Balance-of-Payments Statistics 16 2.3 Exchange Rate Systems 18 2.4 A Brief History of the International Monetary System 22 2.5 Summary 31 Chapter 3 Foreign Exchange and Eurocurrency Markets 35 3.1 Characteristics of Financial Markets 35 3.2 The Eurocurrency Market 36 3.3 The Foreign Exchange Market 41 3.4 Foreign Exchange Rates and Quotations 44 3.5 Hedging with Currency Forwards 51 3.6 The Empirical Behavior of Exchange Rates 54 3.7 Summary 56 Chapter 4 The International Parity Conditions and Their Consequences 61 4.1 The Law of One Price 61 4.2 Exchange Rate Equilibrium 63 4.3 Covered Interest Arbitrage and Interest Rate Parity 66 4.4 Less Reliable International Parity Conditions 69 4.5 The Real Exchange Rate 74 4.6 Exchange Rate Forecasting 78 4.7 Summary 81 Appendix 4A: Continuous Compounding 88 Part Two Derivative Securities for Financial Risk Management 93 Chapter 5 Currency Futures and Futures Markets 95 5.1 The Evolution of Futures Markets 95 5.2 Futures Contracts 97 5.3 Forward versus Futures Market Hedges 100 5.4 Hedging with Currency Futures 104 5.5 Summary 113 Chapter 6 Currency Options and Options Markets 117 6.1 What Is an Option? 117 6.2 Option Payoff Profiles 119 6.3 Currency Option Values Prior to Expiration 126 6.4 Hedging with Currency Options 129 6.5 Exchange Rate Volatility Revisited 134 6.6 Summary 139 Appendix 6A: Currency Option Valuation 143 Chapter 7 Currency Swaps and Swaps Markets 149 7.1 The Growth of the Swaps Market 149 7.2 Swaps as Portfolios of Forward Contracts 151 7.3 Currency Swaps 153 7.4 Interest Rate Swaps 161 7.5 Other Types of Swaps 163 7.6 Hedging the Swap Bank’s Exposure to Financial Price Risk 165 7.7 Summary 166 Part Three Managing the Risks of Multinational Operations 171 Chapter 8 Multinational Treasury Management 173 8.1 Determining Financial Goals and Strategies 173 8.2 Managing International Trade 174 8.4 Managing Cash Flows 181 8.5 Managing Exposures to Currency Risk 183 8.6 Summary 190 Appendix 8A: The Rationale for Hedging Currency Risk 194 Chapter 9 Managing Transaction Exposure to Currency Risk 207 9.1 Transaction Exposure to Currency Risk 207 9.2 Managing Transaction Exposures Internally 208 9.3 Managing Transaction Exposures in the Financial Markets 214 9.4 Treasury Management in Practice 221 9.5 Summary 227 Chapter 10 Managing Operating Exposure to Currency Risk 231 10.1 Operating Exposures to Currency Risk 231 10.2 The Exposure of Shareholders’ Equity 234 10.3 Managing Operating Exposures in the Financial Markets 239 10.4 Managing Operating Exposures Through Operations 243 10.5 Pricing Strategy and the Competitive Environment 245 10.6 Summary 247 Chapter 11 Managing Translation Exposure and Accounting for Financial Transactions 253 11.1 Financial Accounting and Reporting Standards 253 11.2 The Current Rate Method of IAS 21 and ASC 830–30 255 11.3 Corporate Hedging of Translation Exposure 257 11.4 Accounting for Financial Market Instruments 260 11.5 Accounting, Disclosure, and Corporate Hedging Activities 265 11.6 Summary 266 Part Four Valuation and the Structure of Multinational Operations 273 Chapter 12 Foreign Market Entry and Country Risk Management 275 12.1 Strategic Entry into International Markets 276 12.2 Country Risk Assessment 281 12.3 Strategies for Managing Country Risk 287 12.4 Protecting the Multinational’s Competitive Advantages 293 12.5 Summary 296 Chapter 13 Multinational Capital Budgeting 299 13.1 The Algebra of Multinational Capital Budgeting 300 13.2 An Example: Wendy’s Restaurant in Neverland 303 13.3 International Parity Disequilibria 307 13.4 Special Circumstances in Cross-Border Investments 313 13.5 Summary 320 Chapter 14 Multinational Capital Structure and Cost of Capital 327 14.1 Capital Structure and the Cost of Capital 328 14.2 Valuation of a Foreign Project with the WACC 332 14.3 The Cost of Capital on Multinational Operations 337 14.4 Sources of Funds for Multinational Operations 341 14.5 The International Evidence of Capital Structure 346 14.6 Summary 348 Chapter 15 Taxes and Multinational Corporate Strategy 355 15.1 The Objectives of National Tax Policy 355 15.2 Types of Taxation 357 15.3 Taxes and Organization Form 360 15.4 U.S. Taxation of Foreign-Source Income 362 15.5 Transfer Pricing and Tax Planning 367 15.6 Taxes and the Location of Foreign Assets and Liabilities 370 15.7 Summary 374 Chapter 16 Real Options and Cross-Border Investment Strategy 379 16.1 Real Options and the Theory and Practice of Investment 379 16.2 Market Entry as a Simple Real Option 381 16.3 Uncertainty and the Value of the Option to Invest 389 16.4 Market Entry as a Compound Real Option 392 16.5 The Real Option Approach as Complement to NPV 395 16.6 Summary 398 Chapter 17 Corporate Governance and the International Market for Corporate Control 405 17.1 Corporate Governance 406 17.2 The International Market for Corporate Control 418 17.3 The International Evidence on Mergers and Acquisitions 424 17.4 Summary 428 Part Five International Portfolio Investment and Asset Pricing 433 Chapter 18 International Capital Markets 435 18.1 Domestic and International Capital Markets 435 18.2 International Investment Vehicles 444 18.3 Cross-Border Financial Statement Analysis 449 18.4 Summary 452 Chapter 19 International Portfolio Diversification 457 19.1 The Algebra of Portfolio Diversification 457 19.2 Returns on Foreign Investments 466 19.3 The Benefits of International Portfolio Diversification 473 19.4 Home Bias 475 19.5 Summary 480 Chapter 20 International Asset Pricing 485 20.1 The International Capital Asset Pricing Model (IAPM) 485 20.2 Factor Models of Expected and Required Return 490 20.3 Contemporary Asset Pricing Models 499 20.4 Summary 501 Appendix: Useful Rules and Formulas 509 Glossary 515 Index 533

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Book SynopsisThe Innovation of Globalization proven strategies to succeed and out-compete emerging competition Does your company know how to compete effectively in the evolving global business arena? What tactics must your company use to overcome price discounting wars that cut into your margins? What are the strategies your new rivals incorporate that may prove more valuable to customers than the superior products you offer? The China Factorequips Western businesses with a practical framework for competing successfully in today's ever-changing global markets. Written by an expertin competitive strategy and global market expansion, this book is packed with insights gained through first-hand experience leading competitive programs at a high-tech multinational corporation and extensive research. When it comes to globalization, the rules have changedwhat was once nice-to-know is now need-to-know, and this book lays it out in a clear, no-nonsense style. BasTable of ContentsForeword by Ken Wilcox xi Introduction 1 SECTION I State of Affairs 13 CHAPTER 1 The Art of War . . . and Money 15 CHAPTER 2 East and West: The Current State of Affairs 21 CHAPTER 3 How China Came Up the Ladder (and So Quickly) 29 CHAPTER 4 The West No Longer Rules 35 CHAPTER 5 Introduction to the Marketing Framework for Our Analysis 41 SECTION II China 49 CHAPTER 6 How the Chinese Do Business à la the 5Ps: A Brief Summary 51 CHAPTER 7 Market Segmentation and Target Market Selection + China’s Market Penetration Approach 57 CHAPTER 8 China: Product => Solution and Innovation 65 CHAPTER 9 China: Price => Value-Add 73 CHAPTER 10 China: Place => Partnerships 85 CHAPTER 11 China: Promotion => Customer Relationships and Culture 93 CHAPTER 12 China: Politics => The 5th P—The Geopolitical Dimension 105 SECTION III The West 113 CHAPTER 13 Recommendations for the West and Application of the 5Ps 115 CHAPTER 14 The West: Product => Solution and Innovation 119 CHAPTER 15 The West: Price => Value-Add 131 CHAPTER 16 The West: Place => Partnerships 143 CHAPTER 17 The West: Promotion => Customer Relationships and Culture 151 CHAPTER 18 The West: Politics => The Geopolitical Dimension 167 CHAPTER 19 Innovation Models: West and East 185 CHAPTER 20 The West: Positioning 205 SECTION IV Case Studies 217 CHAPTER 21 Frenemies: If You Can’t Beat Them, Join Them 219 Conclusion 239 Acknowledgments 241 Appendix A 243 Appendix B 245 Notes 253 Bibliography and Further Reading 261 About the Author 267 Index 269

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Book SynopsisWINNER OF BUSINESS BOOK OF THE YEAR 2018 (The Business Book Awards) Essential reading for CEOs and leaders of change. - Martin Davis, CEO, Kames Capital 88% of change initiatives fail. The Change Catalyst provides you with the insight, tools and know-how you need to make sure your next change, strategy or M&A is the one in eight that succeeds. Whether you''re trying to change a process, a culture, a behaviour or an entire business, success demands complete clarity of what you are trying to achieve and why, followed by a clear plan to align your people to deliver. All change is about people, and one of the most important ingredients for successful change is the identification and appointment of a Change Catalyst. This is the person who can guide your organisation its people and its processes to the ultimate delivery of the outcomes your business needs. The book takes you deep inside the culture and process of change to show you how to set Trade Review"A good book, well researched with a clear instruction to use it as a guide and a resource to assess what is the right option for your own organisation." (Irish Tech News, July 2017)"The Change Catalyst is well-written and a pleasure to read. It is full of insight and anecdotes to help organisation transform for the better." (The Association of MBA's, June 2017)"This is no ordinary business book. Easy to read and conversational, it leads an entertaining exploration of the subject of change." (thebiponline, May 2017)Table of ContentsAcknowledgments xi About the Author xv Introduction 1 PART ZERO: Change Is Inevitable 9 PART ONE: Why 88% of Change Initiatives Fail 29 1 People Don’t Like Change 31 #1 reason why people resist change: fear of failure 35 #2 reason why people resist change: fear of the unknown 38 #3 reason why people resist change: fear of blame 40 #4 reason why people resist change: the comfort of victimhood 44 #5 reason why people resist change: the long-term gains don’t seem to be worth the short-term pain 49 #6 reason why people resist change: we need help but it is nowhere to be found, so we give up at the fi rst hurdle 50 2 Lack of Clarity Regarding What We are Trying to Achieve and Why 55 3 The Implications are not Fully Understood 71 4 An Obsession with Process over Outcomes 75 5 Inertia 81 6 The Project is Set Up to Fail 85 7 Poor Communications and Disingenuous Stakeholder Engagement 89 8 We Forget that Emotions Trump Logic Every Time 93 9 A Change-averse Culture 103 10 The Leadership Doesn’t Stay the Course 107 PART TWO: The Necessary Ingredients for Successful Change 113 11 A Change Catalyst to Drive Delivery 115 12 Clarity About What we are Trying to Achieve and Why 131 13 Detailed Understanding of the Implications of the Change 133 14 A Laser-like Focus on the Outcomes 139 15 A Change Process that Includes a 'Pause for Reflection' 143 16 Clear Governance and Thorough Planning 147 17 Genuine Engagement with People at all Levels of the Organisation 153 18 Identification of the Emotional Triggers 163 19 A Strong, Committed, Aligned and Unwavering Leadership Team 167 20 A Change-ready Culture 171 PART THREE: Culture Change 177 21 Cultural Intelligence 179 22 Instigating Change in a Foreign Culture 193 23 Understanding Your Organisation’s Culture 207 24 Teaching People to Walk in the Rain 211 PART FOUR: Getting Down to Business 225 25 Vision, Mission and Other Buzzwords 227 26 Values Schmalues 243 27 What Does a Good Strategy Look Like? 251 28 It’s the Delivery, Stupid! (Execution is Everything) 263 29 Where Are Your Walls? (Organisation Design) 271 30 Overcoming Complacency (The Innovator’s Dilemma) 279 31 What Does a Good Leader Look Like? 287 32 Building Extraordinary Leadership Teams 293 33 Your People 299 34 Case Studies 313 Tim Wallace and the iPipeline team: Transforming insurance 314 Michael Sheargold: Real estate Change Catalyst 321 Michael Gould and Anaplan: The UK’s newest unicorn 327 Unlocking the value of HR 335 Globalisation 345 35 The Change Toolbox 359 PART FIVE: And Finally, Tell 'em What You Told 'em 377 Index 385

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Book SynopsisAchieving the Sustainable Development Goals through Finance, Technology and Law Reform Achieving the SDGs requires a fundamental rethink from businesses and governments across the globe. To make the ambitious goals a reality, trillions of dollars need to be harnessed to mobilise finance and accelerate progress towards the SDGs. Bringing together leaders from the World Bank, the financial and business sectors, the startup community and academia, this important, topically relevant volume explains what the SDGs are, how they came about and how they can be accelerated. Real-world case studies and authoritative insights address how to direct investment of existing financial resources and re-align the global financial system to reflect the SDGs. In depth chapters discuss how financial institutions, such as UBS Wealth Management, Manulife Asset Management and Moody's Rating Agency are supporting the SDGs. The opportunities arising from Blockchain, Big Data, DigiTable of ContentsAbout the Editors xvii Notes on Contributors xix Foreword xxix Foreword: Implementation of the SDGs xxxi Preface xxxv Introduction 1 Part One: Overview and Context 9 Part Two: Where Will the Money Come From? Financing the SDGs 10 Part Three: Technology, Innovation, and Entrepreneurship 12 Part Four: Facilitating the SDGs by Legal Infrastructure Reform 15 Part I Overview and Context 17 1 The UN and Goal Setting: From the MDGs to the SDGs 19Alma Pekmezovic Introduction 19 What is Development? 20 Is There a Right to Development? 22 Measuring Economic Development 22 Measuring Non-Economic Aspects of Development 23 The Sustainable Development Goals (SDGs) 24 Situating the SDGs in the International Legal Framework 28 Theories of Development: Towards a New Theory of Sustainable Development 29 Economic Theories of Development 30 Cultural Theories of Development 30 Geographic Theories of Development 31 Institutional Theories of Development 32 A New Theory of Sustainable Development 34 Measuring Progress Towards the SDGs 34 Conclusions 35 2 SDGs and the Role of International Financial Institutions 37Suresh Nanwani Introduction 37 Response and Implementation of the SDGs by IFIs 38 Project Processing and Actions Taken by IFIs to Implement the SDGs, and Responses from Other Development Actors 44 Conclusion and Recommendations for IFIs to Meet SDG Goals and Targets 48 3 Towards a New Global Narrative for the Sustainable Development Goals 53Iason Gabriel and Varun Gauri Introduction 53 How SMART Are the SDGs? 55 Goals That Stretch 59 Goals That Inspire 62 Sloganising the SDGs 64 Towards a New Global Narrative? 66 Conclusion 69 4 Overcoming Scarcity: The Paradox of Abundance: Harnessing Digitalisation in Financing Sustainable Development 71Simon Zadek Scarcity: The Paradox of Abundance 71 Financing: A Systemic Challenge 72 Action on System Design 74 Digital Financing of the SDGs 76 Dilemmas: Digitalisation and Dark Financing 80 Sizing the Prize 82 What Next? 84 Concluding Comments 85 Part II Where Will the Money Come From? Financing the SDGs 87 5 The New Framework for Financing the 2030 Agenda for Sustainable Development and the SDGs 89Alma Pekmezovic Introduction 89 Sources of Development Finance 90 Domestic Public and Private Sources 90 Domestic Resource Mobilisation (DRM) 90 International Public and Private Finance 93 The Role of International Official Development Assistance (ODA) 94 Private Philanthropy 95 Sovereign Wealth Funds, Pension Funds, Insurance Companies, and Investment Funds 96 Barriers to Greater Private Investment 97 The Role of Private and Blended Finance in Development 98 The Development Impact and Risks of Blended Finance 100 An Overview of Blended Finance Mechanisms 101 Innovative Financing Tools: Social Impact Bonds (SIBs) and Development Impact Bonds (DIBs) 102 Best Practices for Engaging the Private Sector 105 Conclusions 105 6 The Contribution of the International Private Sector to a More Sustainable Future 107Martin Blessing and Tom Naratil Ready and Able to Invest 108 Commercial and Investment Benefits 109 What is Needed to Mobilise Private Sector Money? 110 Partnerships for a More Sustainable Future 112 Partnerships to Rationalise Sustainable Investment Markets 112 Partnerships to Democratise Sustainable Investment Markets 116 7 Re-Orienting the Global Financial System Towards Sustainability 121Alma Pekmezovic Introduction 121 Background 123 The Legal and Regulatory Framework 125 Company Reporting: Sustainability Disclosure Requirements 128 Institutional Investors: Responsible Investing and Investing for Impact 132 Fiduciary Duties of Institutional Investors and Other Financial Intermediaries 136 Fostering Long-Term Sustainability 140 Conclusion 142 8 How Asset Managers Can Better Align Public Markets Investing with the SDGs 143Emily Chew and Margaret Childe Why the SDGs Could Transform Sustainability Investing 143 Implementing the SDGs as an Analytical Framework to Align Investing with the SDGs 145 Objectives of Manulife Investment Management’s Approach to SDG-Aligned Investing 145 SDG Assessment Methodology Overview 147 Investable Themes 147 SDG Alignment Assessment 150 Exclusions 152 Applying the SDG Analytical Framework to the S&P 500 Index 152 The Current State of Corporate Goals with Respect to SDG Impact 153 The Current Opportunity Capture of SDG-Related Profit Opportunities 156 Areas in which Corporate Operational Conduct is Most Strongly Aligned with SDG Impact 159 What SDG Developments Can We Expect in the Public Markets Investor Community in 2020 and Beyond? 161 SDG-aligned Investing is Expected to Become Easier 162 Corporate Reporting on the SDGs Will Improve 163 Constructive Dialogue or Engagement with Companies is Necessary to Achieve the SDGs 163 A Call to Action 164 Disclaimer 165 9 The Significance of Sustainable Development Goals for Government Credit Quality 167Alastair Wilson Environmental Preservation Influences Credit Quality, Including Through the Impact of Climate Change on Growth and Institutions’ Resilience to It 168 Social Risks Such as Poverty and Inequality Feed into Economic and Institutional Strength 170 Strong Institutions Are Closely Related to Ratings and Ratings Factors 174 SDGs Influence Government Credit Quality Through Different Channels, to Varying Degrees 176 Part III Technology, Innovation, and Entrepreneurship 177 10 FinTech for Financial Inclusion: Driving Sustainable Growth 179Dirk A. Zetzsche, Ross P. Buckley, and Douglas W. Arner Introduction 179 Financial Inclusion and Sustainability: Introducing the Long-Term Perspective 180 Financial Inclusion: Why It Matters 180 Two Sides of the Same Coin 181 FinTech as a Tool for the SDGs 181 FT4FI Initiatives 183 Four Pillars of Digital Financial Transformation 184 Experiences and Lessons 184 Financial Inclusion Initiatives Since 2008: G20 184 Financial Inclusion Initiatives Since 2008: AFI 185 FinTech and Financial Inclusion: The Foundation of Digital Financial Transformation 185 Pillar I: Digital ID and eKYC: Establishing the Foundation 186 Example: The Indian Aadhaar System 186 IrisGuard 187 Regional Approaches: eIDAS in the EU 188 eKYC and KYC Utilities 188 Example 1: South Africa Web-Based KYC Database 188 Example 2: India’s e-KYC System 188 Example 3: eIDAS and eKYC 189 Synthesising the Lessons 189 Pillar II: Open Electronic Payment Systems: Building Connectivity 189 Mobile Money 190 Designing Regulatory Infrastructure for an Open Electronic Payments System 191 Pillar III: Account Opening and Electronic Government Provision of Services: Expanding Usage 192 Electronic Payment: Government Salaries and Transfers 193 Electronic Payment and Provision: Other Core Services 194 Pillar IV: Design of Financial Market Infrastructure and Systems: Enabling New Wider Development 195 Transforming Credit Provision: From Collateral and Microfinance to Cash Flow 195 Adding Insurance and Investments to Savings and Credit 196 M-Akiba 197 Building Better Financial Infrastructure 198 The EU Example: GDPR, PSD2, MiFID2 198 Developing a Comprehensive Strategy 198 Strategic Approach 198 The Challenge of Technology 198 Regulatory Sandboxes, Piloting, and Test-and-Learn Approaches 199 Balancing Inclusion with Other Regulatory Objectives 201 Designing Regulatory Systems: The Example of Mexico 201 Towards Inclusive and Sustainable Growth 202 11 Financing and Self-Financing of SDGs through Financial Technology, Legal, and Fiscal Tools 205Jon Truby Introduction 205 Self-Sufficient Financing and Achievement of SDGs through Tax Reform 207 Shifting the Tax Burden to Create a Double Dividend 207 Base Erosion and Digital Services Taxation 208 Digitisation of Tax Administration 209 Amendment of the Chicago Convention 210 Self-Sufficient Financing of SDGs through Financial Technology 212 Digitisation of Money 212 Digital Identity 214 Financing SDG 7 and Related Goals through Financial Technology 215 Offsetting Investments in Energy-Intensive Digital Currencies 215 Digital Token Investments 216 Conclusion 217 12 SDG Challenges in G20 Countries 219Guillaume Lafortune and Guido Schmidt-Traub Introduction 219 The SDGs as Problem-Solving Tools for Transformative Actions and Policies 229 Long-Term Planning and Back-Casting 230 Data and Monitoring 231 Financing 232 Technology Missions 233 Conclusion 234 13 The Future-Fit Business Benchmark: Flourishing Business in a Truly Sustainable Future 235Geoff Kendall and Martin Rich Introduction 235 The Journey Ahead 236 The World We Want 236 The World We Have (and How We Got Here) 236 The World We Can Create 238 Why a Systems View is Good for Business 240 A Star to Steer By 243 Current Assessment Methods Are Flawed 243 Starting with the End in Mind 244 How Much is Enough? 244 A Holistic View of Future-Fitness 245 A Practical Tool 246 Future-Fit Break-Even Goals 246 Future-Fit Positive Pursuits 248 Engaging Stakeholders More Effectively 250 Conclusion 251 14 Financing for Youth Entrepreneurship in Sustainable Development 253Inna Amesheva, Alex Clark, and Julian Payne The Role of Young Entrepreneurs in Sustainable Development 253 The Needs of Young Entrepreneurs Working on the SDGs 254 Barriers to Innovation and Scale 254 Supporting Young Entrepreneurs Working on the SDGs 257 The Financing Options Available to Young Entrepreneurs Working on the SDGs 258 Sources and Instruments of Finance for Young Entrepreneurs 259 Bridging the Gap Between Young Entrepreneurs and the SDGs 262 Sectoral Coverage 262 Geographical Coverage 264 Beyond Banks: Alternative Financial Structures for Youth-oriented Sustainable Development Initiatives 266 Prioritising Financial Interventions for Youth Entrepreneurs and the SDGs 267 Non-financial Services 268 Developing a Robust Investment Pipeline 270 Designing Youth-focused Funding Vehicles for the SDGs 271 15 Transparency in the Supply Chain 275Julia Walker Introduction 275 Supplier prequalification tools 279 Emerging Technology in Supply Chains 281 The diamond industry 282 Summary 284 Part IV Facilitating the SDGs by Legal Infrastructure Reform 285 16 Facilitating Sustainable Development Goal 8 by Legal Reform Measures 287Gordon Walker Introduction 287 Contextual Issues 288 Legal Traditions 288 Regulators and Policymakers 289 Implementation Problems 290 Capital Formation for Micro-, Small-, and Medium-Sized Enterprises 291 Meta-Strategy: The Promise of e-Government 291 The SDGs and Domestic Policy Formation 292 Facilitating SDG 8 by Law Reform 293 Hong Kong 293 Fundraising Law in Hong Kong: A Brief Overview 294 Safe Harbours in the 17th Schedule of CWUMPO 295 ECF and P2PL in Hong Kong 296 Supporting FinTech and MSME Fundraising Solutions in Papua New Guinea 297 Survey of Papua New Guinea Legislation 297 Offers Excluded from the Prospectus Requirements: CMA, Schedule 6 298 Issues Excluded from the Prospectus Requirements: CMA, Schedule 7 299 Securities Commission Power to Amend Schedules: CMA, Section 470 299 Legal Reform Opportunities for ECF and P2PL in PNG 299 Conclusion 300 17 Facilitating SDGs by Tax System Reform 303Benjamin Walker Introduction 303 Sustainable Development Goals 304 Goal 3: Good Health and Well-Being 304 Goal 8: Decent Work and Economic Growth 304 Goal 10: Reduce Inequality within and among Countries 305 Goal 12: Ensure Sustainable Consumption and Production Patterns 307 Goal 16: Peace, Justice and Strong Institutions 308 Goal 17: Strengthen the Means of Implementation and Revitalize Global Partnership for Sustainable Development 309 A Wider Picture of Development 310 Taxes and Economic Development 310 Tax Effort 311 Taxes and Spending 312 Taxes and Technology 313 Blockchain 313 Artificial Intelligence 314 Tax Law Reform 314 Recent Developments 316 Conclusion 316 18 Facilitating the SDGs by Competition and Consumer Law and Policy Reform: Aspirations and Challenges in Papua New Guinea 317Brent Fisse Introduction 317 Proposed PNG Competition and Consumer Reforms and SDGs 318 Tailoring Law and Policy to the Particular Needs and Circumstances of PNG 320 Removing Statutory and Regulatory Barriers to Entry 322 Designing Competition Rules That Are Practical and Avoid Excessive Technicality 324 Harnessing Consumer Protection Laws to Protect and Promote Small Business 327 Using Enforcement Mechanisms That Have Some Chance of Working in PNG 329 Conclusion 331 Resolution Adopted by the General Assembly on 25 September 2015 333 Transforming Our World: The 2030 Agenda for Sustainable Development 333 Preamble 333 People 334 Declaration 335 Introduction 335 Our vision 336 Our shared principles and commitments 336 Our world today 337 The new Agenda 339 Means of implementation 344 Follow-up and review 346 A call for action to change our world 347 Sustainable Development Goals and targets 347 Goal 1. End poverty in all its forms everywhere 349 Goal 2. End hunger, achieve food security and improved nutrition and promote sustainable agriculture 350 Goal 3. Ensure healthy lives and promote well-being for all at all ages 351 Goal 4. Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all 352 Goal 5. Achieve gender equality and empower all women and girls 353 Goal 6. Ensure availability and sustainable management of water and sanitation for all 354 Goal 7. Ensure access to affordable, reliable, sustainable and modern energy for all 354 Goal 8. Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all 355 Goal 9. Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation 356 Goal 10. Reduce inequality within and among countries 357 Goal 11. Make cities and human settlements inclusive, safe, resilient and sustainable 357 Goal 12. Ensure sustainable consumption and production patterns 358 Goal 13. Take urgent action to combat climate change and its impacts 359 Goal 14. Conserve and sustainably use the oceans, seas and marine resources for sustainable development 360 Goal 15. Protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss 361 Goal 16. Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels 362 Goal 17. Strengthen the means of implementation and revitalize the Global Partnership for Sustainable Development 363 Finance 363 Technology 363 Capacity-building 364 Trade 364 Systemic issues 364 Means of implementation and the Global Partnership 365 Follow-up and review 369 National level 371 Regional level 372 Global level 372 Index 375

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Book SynopsisAs globalization is redefining the field of corporate finance, international finance is now part and parcel of the basic literacy of any financial executive. This is why International Corporate Finance is a must text for upper-undergraduates, MBAs aspiring to careers in global financial services and budding finance professionals. International Corporate Financeoffers thorough coverage of the international monetary system, international financing, foreign exchange risk management and cross-border valuation. Additionally, the book offers keen insight on how disintermediation, deregulation and securitization are re-shaping global capital markets. What is different about International Corporate Finance? Each chapter opens with a real-life mini-case to anchor theoretical concepts to managerial situations. Provides simple decision rules and how to do answers to key managerial issues. Cross-border Mergers & Acquisitions, Table of ContentsPreface xvii Acknowledgments xxv About the Author xxvii Chapter 1 What is International Corporate Finance? 1 The Uneven Reach of Globalization 2 The Rise of the Multinational Corporation 3 What is Different about International Corporate Finance? 6 Risks in the Wonderland of International Finance 8 Internationalization and the Locus of the Finance Function 12 The International Control Conundrum 15 Exploiting The Multinational Enterprise System 16 Summary 19 Questions for Discussion 19 References 20 Part One The International Monetary Environment 21 Chapter 2 Exchange Rates Regimes 23 Some First Principles about Exchange Rate Determination 24 World Map of Exchange Rate Regimes: The Flexibility × Convertibility Space 29 Floating Exchange Rates 31 Stabilized or Pegged Exchange Rates 39 Controlled Exchange Rates 46 To Float or to Fix: The Trilemma of International Finance 49 Summary 50 Questions for Discussion 51 Problems 52 Internet Exercises 54 References 54 Chapter 3 Yesterday and Yesteryear 57 Chronology of the International Monetary System 58 The Gold Standard (1878–1914, 1925–1931) 61 The Bretton Woods System (1944–1971) 63 Managed Floating Exchange Rates (1973–Present) 67 European Monetary System and the European Currency Unit (1979–1999) 68 Emerging Markets Currency Regimes and Crises 72 European Monetary Union and the Birth of the Euro (1999–Present) 76 Today and Tomorrow: The Current Map of Exchange Rates 84 Summary 86 Questions for Discussion 87 Problems 88 Internet Exercises 90 References 90 Case Study 3.1: Will the Eurozone Shutter? Plant Location and Exchange Rates for Hyundai 91 Chapter 4 The Balance of Payments 99 Fundamentals of Balance of International Payments Accounting 100 Current Account 105 Financial Account 107 Official Reserve Account 109 Statistical Discrepancies: Errors and Omissions 111 Balance of Payments and the Foreign Exchange Market 111 Debtor Versus Creditor Nations 115 Linking the Balance of Payments to National Income 118 Summary 119 Questions for Discussion 120 Problems 121 Internet Exercises 122 References 124 Case Study 4.1: When One of the BRIC(k)s Falls: Trials and Tribulations of the Indian Rupee 124 Part Two The Foreign Exchange Market and Currency Derivatives 129 Chapter 5 The Foreign Exchange Market 131 How Forex is Traded: The Institutional Framework 132 Foreign Exchange Products 140 Exchange Rate Quotations 142 Summary 155 Questions for Discussion 156 Problems 157 Internet Exercises 160 References 160 Case Study 5.1: Banco Mercantil Internacional’s Forex Losses 160 Chapter 6 Interest Rate Arbitrage and Parity 165 Interest Rate Arbitrage Theorem 166 Interest Rate Parity 174 Uncovered Interest Rate Arbitrage and the Carry Trade 181 Summary 184 Appendix 6A: Transaction Costs: Interest Rate Arbitarge with Bid-Ask Spreads (Advanced) 185 Appendix 6B: Interest Rate Parity and Asymmetric Taxation 187 Questions for Discussion 188 Problems 188 Internet Exercises 195 References 195 Case Study 6.1: Brazil Rede Globo’s Short-Term Funding 195 Chapter 7 Purchasing Power Parity and the International Parities Framework 199 Purchasing Power Parity 200 The Linkages Between Interest, Inflation, and Exchange Rates 213 Questions for Discussion 220 Problems 220 Internet Exercises 221 References 222 Chapter 8 Currency Futures and Options 223 A Brief History of Derivatives 223 Currency Futures 228 Currency Options 234 Risk Profile of Currency Options 236 Option Strategies 239 Put-Call Parity Theorem 245 The Valuation of Currency Options 248 Derivatives and Zero-Premium Options 254 Summary 258 Appendix 8A: Pricing Currency Options 259 Questions for Discussion 261 Problems 261 Internet Exercises 264 References 264 Case Study 8.1: Daewoo’s Unorthodox Funding Strategy 264 Part Three International Financing 269 Chapter 9 The International Financial Sector and the Dynamics of Global Capital Markets 271 Financing as a Global Procurement Decision 272 The Financial System and Financial (Dis)Intermediation 273 Securitization and the (Lower) Cost of Consumer Financing 281 Deregulation 287 Mapping the Financial System/Capital Market Emergence Process 290 Summary 297 Questions for Discussion 298 Problems 298 Internet Exercises 300 References 300 Case Study 9.1: How Thai Airways FOILs Jet Fuel Price Risk 301 Chapter 10 Sourcing Equity Globally 307 A Grand Tour of Equity Markets 308 Global Equity Financing as a Procurement Decision 317 Internationalizing the Cost of Capital: The Landmark Case of Novo Industri 318 Why do Firms Cross-List? 323 How to Source Equity Globally 325 Summary 331 Questions for Discussion 332 Problems 333 Internet Exercises 334 References 335 Case Study 10.1: Jazztel’s Foreign IPO 335 Chapter 11 Sourcing Debt from Global Bond Markets 345 The International Debt Procurement Decision 346 Grand Tour of the Global Debt Market 347 Cost of Foreign Currency Debt Financing 356 Debt Refinancing 361 The International Debt Financing Conundrum 364 Summary 366 Questions for Discussion 366 Problems 367 Internet Exercises 372 References 372 Case Study 11.1: McDonald’s Dim Sum Bonds: “Lovin’ It” 372 Chapter 12 Currency, Interest Rate, and Credit Default Swaps 377 Currency Swaps 378 Interest Rate Swaps 383 Credit Default Swaps 391 Summary 397 Questions for Discussion 397 Problems 398 Internet Exercises 400 References 400 Case Study 12.1: The Demise of AIG 400 Chapter 13 International Trade Financing 405 A Brief History of International Trade 406 The Trilogy of Risks in Exporting 407 Managing Credit Risk 409 Managing Currency Risk 410 Managing Country Risk 411 The Mechanics of Trade Financing with a Letter of Credit 412 Financing Exports 415 Pre-Export Financing 418 Government-Sponsored Export Credit Agencies 422 Summary 423 Questions for Discussion 424 Problems 424 Internet Exercises 426 Case Study 13.1: Warrick Pharmaceuticals Inc. 426 Part Four Managing Foreign Exchange Risk 431 Chapter 14 The Case for Foreign Exchange Risk Management 433 Defining Foreign Exchange Risk Management and its Objectives 435 Can Hedging Currency Risk Increase the Value of the Firm? 437 When is Hedging Currency Risk Irrelevant? 440 From Hedging to Managing Currency Risk 441 The Building Blocks of Foreign Exchange Risk Management 443 Summary 445 Appendix 14A: Foreign Exchange Risk Management: What do Firms do? 446 Questions for Discussion 446 References 447 Case Study 14.1: Bio-Oils Energy S.L. 447 Chapter 15 Forecasting Exchange Rates 455 Market-Based Forecasts 456 Model-Based Forecasts: Technical Versus Econometric Modeling Approaches 461 Composite Forecasts 468 How to Use Currency Forecasts 469 Summary 470 Appendix 15A: Forecasting Pegged Yet Adjustable Exchange Rates 470 Questions for Discussion 476 Problems 477 Internet Exercises 479 References 479 Case Study 15.1: Euclides Engineering, Ltd. 480 Chapter 16 Managing Transaction Exposure 483 Measuring Transaction Exposure 484 The Mechanics of Hedging Transaction Exposure 488 Hedging and Financing International Trade 500 Eliminating Foreign Exchange Rate Risk in Long-Term Contracts 501 Exchange Rate Risk in International Bidding 508 How Much to Hedge Transaction Exposure 512 Summary 513 Questions for Discussion 514 Problems 514 References 520 Case Study 16.1: Hedging Currency Risk at TT Textiles 521 Chapter 17 Managing Translation Exposure 531 What is Translation Exposure? 531 Should Translation Exposure be Hedged? 532 Alternative Translation Methods 533 The Mechanics of Contractual Hedging 539 The Mechanics of Financial Hedging 546 Summary 550 Appendix 17A: Accounting Valuation and the Concept of Translation Exposure 551 Questions for Discussion 555 Problems 555 Internet Exercises 560 References 560 Case Study 17.1: Wilkinson Sword’s Trials and Tribulations in Turkey 560 Chapter 18 Managing Economic Exposure 567 A Taxonomy of Economic Exposures 568 Toward an Operational Measure of Economic Exposure 575 Managing Operating Exposure 578 Summary 583 Questions for Discussion 584 Problems 584 References 587 Case Study 18.1: Peugeot Citroën SA’s Economic Exposure to the South Korean Won 588 Part Five Cross-Border Valuation and Foreign Investment Analysis 591 Chapter 19 Foreign Market Entry Strategies and Country Risk Management 593 Contractual Modes of Foreign Market Entry 594 Foreign Market Entry Through Foreign Direct Investments 599 Country Risk 600 Costs/Benefits of Foreign Direct Investment to Host Countries 608 Summary 612 Questions for Discussion 613 Internet Exercises 613 References 614 Case Study 19.1: Carrefour’s Indian Entry Strategy 614 Chapter 20 International Capital Budgeting 619 The Foreign Direct Investment Decision-Making Process 619 A Primer on Evaluating Investment Opportunities 622 What is Different About Evaluating Foreign Investment Proposals? 624 Case Study: Renault Invests in India 629 Global Cost of Equity Capital 639 Optimal Worldwide Capital Structure 643 Summary 644 Appendix 20A: Adjusted Present Value 645 Appendix 20B: Real Options 648 Questions for Discussion 656 Problems 656 Internet Exercises 660 References 660 Chapter 21 Cross-Border Mergers and Acquisitions 661 A Brief History of Mergers and Acquisitions 662 The Industrial Logic of Mergers and Acquisitions 662 Are Cross-Border Acquisitions Different? 664 Valuation of Foreign Acquisitions 671 Ciments Lafarge Enters Vietnam 673 Summary 680 Questions for Discussion 681 Problems 681 Internet Exercises 683 Case Study 21.1: Etihad’s Proposed Acquisition of Malaysia Airlines 684 Chapter 22 Project Finance 689 What is Project Finance? 690 Anatomy of Project Finance: The Case of the Ras Laffan Liquefied Natural Gas Company 696 Valuing Project Finance: The Esty Model 696 Summary 704 Questions for Discussion 705 References 705 Case Study 22.1: Clean Infra Ltd Project Finance 706 Chapter 23 Global Investing 713 The Basics of International Portfolio Management 714 The Gains from International Diversification 722 Trials and Tribulations in Foreign Equity Investing 729 Currency Risk in Global Investing 730 Alternative Modes of Investing in Foreign Equity 733 The New Landscape of Global Investing 734 Summary 741 Appendix 23A: In Search of Alpha at Global Thematic Partner is found on the Book Website at www.wiley.com/go/intlcorpfinance2e 741 Questions for Discussion 742 Problems 742 Internet Exercises 744 References 744 Part Six Managing the Multinational Financial System 747 Chapter 24 Managing the Multinational Financial System 749 A Primer on International Taxation 749 The Multinational Financial System 753 Exploiting the System’s Potential to Minimize Global Tax Liabilities 755 Designing a Global Dividends Remittance Strategy 761 Centralizing Cash Management 765 Summary 774 Questions for Discussion 775 Problems 775 Internet Exercises 777 References 777 Appendix: Answers to Selected Problems 779 About the Companion Website 787 Index 789 Continued on the Website Chapter 25 International Control Conundrum (extension of Part 6) 805 A Primer on Managerial Control 806 The International Control Conundrum 809 EVA-Based Contingent Budgeting and Performance Assessment 815 Summary 821 Appendix 25A: Applying The EVA-Based Control System 822 Questions for Discussion 826 References 826 Chapter 26 Asian Finance and Banking (extension of Part 3) 827 Asian Finance: Common Historical Roots, Diverse Paths 828 Adaptive Responses: Crises and Institutional Change in Asian Finance 832 Business Organization, Corporate Ownership, and Governance 836 Corporate Governance 841 Capital Market Development 846 Capital Structure and the Cost of Capital 855 Performance, Value, and the Practice of Corporate Finance 857 Summary 860 Questions for Discussion 860 References 861 Chapter 27 Islamic Banking and Finance (extension of Part 3) 863 The Underlying Principles of Islamic Finance 864 The Evolution of Islamic Finance 868 Islamic Financing Products 872 Shariah-Compliant Asset Management 879 Islamic Banking 880 Islamic Finance and the Global Financial Meltdown 885 Summary 886 Questions for Discussion 888 References 888 Case Study 27.1: When Emirates Airline Taps Islamic Finance 888 Appendix 23A to Chapter 23: In Search of Alpha at Global Thematics Partners (GTP) 894 Glossary 899

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