Academic Archive :: Browsing by Author "Samii, Massood"

Browsing by Author "Samii, Massood"

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CAFTA-DR effects on FDI inflows, growth and distribution of the workforce : a system dynamics approach
(Southern New Hampshire University, 2010-06-29) Teekasap, Pard; Frutos, Dinorah; Samii, Massood
As regional trading arrangements have spread over the last decades, the study of the relation between trade agreements and foreign direct investment still presents difficulties due to the multi-dimensional character of such relationship. This paper presents a system dynamics model that attempts to shed new light on how some of the Central American Free Trade Agreement (CAFTA-DR). Specifically we look at how the growth and distribution of the workforce in the non-agricultural (or industrial) and agricultural sector in six CAFTADR country members. The model results indicate that the provisions we considered tend to industrialize member countries as well as expand the agricultural sector in some countries in the long run. In addition, the model indicates that the treaty provisions drive up the GDP per capita for all member countries.
CAFTA-DR effects on FDI inflows, growth and distribution of the workforce in Costa Rica : a system dynamics approach
(Routledge, 2010-10) Frutos, Dinorah; Teekasap, Pard; Samii, Massood
As regional trading arrangements have spread, enlarged and deepened over the last decades, the study of the relation between trade agreements and foreign direct investment still presents difficulties due to the multi-dimensional character of such relationship. This paper attempts to shed new light on how some of the Central American Free Trade (CAFTA) policies will impact FDI inflows on the manufacturing and agricultural sectors in Costa Rica. Specifically we look at how the growth and distribution of the workforce is affected by the treaty. The results show that the agreement provisions will have a positive effect on foreign direct investment. From these results it is possible to estimate that in the long run, the implementation of CAFTA has a higher probability of generating the intended benefits. System dynamics modelling is used in this paper.
Can country continuously compete on cheap labor cost? A system dynamics approach to FDI policy analysis
(Southern New Hampshire University, 2010-06-28) Samii, Massood; Teekasap, Pard
This paper studies the interaction of FDI, wages and employment of workers under different policies in countries that use cheap labor cost strategies such as Thailand. The interactions are analyzed by using system dynamics modeling. The model simulation shows that FDI drives salaries up when the demand for workers reaches the limit of the working population. A higher salary, in turn, causes low labor cost seeking FDI to withdraw their investment. Government policies aimed to sustain cheap labor cost seeking FDI are examined. Policies to subsidize foreign operation such as providing tax breaks and reducing the time to set up a new firm can stimulate FDI in the short term but in the long term the foreign firms still withdraw their investments due to high salaries. An increase in the working population or a reduction in firm hiring process time, on the other hand, does not affect the volume of FDI. Thus, the country cannot rely on a low labor cost strategy on the long term.
Changes in capital structure of listed emerging market firms in the aftermath of the 2007 – 2008 global financial crisis
(Southern New Hampshire University, 2017-01-18) An, Botao; Aybar, Bulent; Samii, Massood; Dhakar, Tej; Ficici, Aysun
The 2007 – 2008 global financial crisis led to one of the worst recessions in history and created enormous adverse impacts on global demand, equity and debt markets around the world. Globalization increases competition for emerging-market (EM) firms both inside and outside their domestic market. One of the key challenges that they have is how to finance their growth opportunities, especially under these adverse circumstances. The impacts on most developed-country (DC) firms were devastating while EM companies experienced different levels of effects due to the aftermath of the crisis. In this study, I explore how patterns of EM firms’ corporate financing decisions have changed in the aftermath of the global financial crisis. Using data from 10,860 listed firms from 22 emerging markets, which were classified by MSCI between 2000 and 2014, results show that EM listed firms with more growth options, have less profitability, larger size, more tangible assets, higher business risk, higher tax payments, higher degree of internationalization, can carry more debt. I then analyze the changing dynamic of EM listed firms’ leverage choices; results suggest capital structure determinants have different impacts on leverage prior to, during, and after global financial crisis. There is a delayed effect of impacts of the global financial crisis on EM firms’ leverage policy; creditors only took precautions on the adverse environment during the crisis period (2007 – 2009). Nevertheless, there is a changing pattern on EM firms’ capital structure determinants during recent decades. In the 1990s, EM firms’ debt usage decisions were dominated by institutional factors, and impacts of institutional factors on firms’ debt usages gradually transfer to firm-specific factors after the 1997 Asian financial crisis. Previous studies suggested EM firms’ leverage policies can be explained by the “pecking-order theory” and the “agency theory” before the 2007 – 2008 global financial crisis (Fan et al., 2014; Fernanedes, 2011). In this paper, I found that the “pecking-order theory” maintains its effectiveness in EM firms’ leverage policies, and the “trade-off theory” gradually shows its effectiveness throughout the sample period. Unlike EM firms in the whole sample, internationalized EM firms also follow different changing patterns in leverage policy determinants during the sample period, and they experienced the impact of the global financial crisis immediately. Due to additional risk exposure of internationalization, internationalized EM firms’ leverage policies show support to the “pecking-order theory,” but the “trade-off theory” and the “agency theory” are also supported in sub-sample periods. (Author abstract)
Climate change and sustainability strategy: MNCs performance assessment - impact of climate change on business sector
(Southern New Hampshire University, 2018-11) AL Ghunaim, Mashari S; Samii, Massood; Dhakar, Tej; Aybar, Bulent; Lightfoot, William; Zilch, Kathleen
Climate change poses many challenges for business operations worldwide. The study evaluated multinational companies (MNCs) and the implications of climate change on their business operational activities. Moreover, the study adopted a mixed-methods research design in a bid to evaluate sustainability strategies embraced by these business organizations purposely to counter climate change risks. Two methods were adopted for this research. First, this study utilized the quantitative method where the Natural-Resource-Based View (NRBV) concept was adopted to investigate whether companies are complying with the implementation of strategies geared towards reducing its impact on climate change compared to their competitors whose strategies are less proactive. This study also embraced, the Return on Assets (ROA) and Asset Turnover (AST) for assessment purposes given their distinctive nature as financial parameters. The criteria used to select companies for this study was based on their best practices that met the requirements of the MSCI ESG Global Indexes, like, Climate Index, Environment Index, Pollution Index, Clean Technology, and Sustainability Index. The companies for this study were selected from industries located in the United States, Japan, ٍand some European and Asian countries. Findings for the first part of the study reveals that, United States companies, the proactive MNC’s financial parameter (mean AST) was significantly lower than the less proactive MNC’s. While, in the Japanese, Europe, and the Global group samples of the proactive MNC’s, financial parameter (mean ROA) was significantly higher than less proactive MNCs. Remaining Asian group sample show, no significant differences in mean ROA or the mean AST across proactive and less proactive MNC’S. Second, the study also utilized a qualitative method where research participants shared their different experiences, viewpoints, ideas, and thoughts on climate change were sought. The methodology also entailed the selection of 108 companies to help understand the impact of climate change on business and the sustainability strategies adopted to cope climate change risks. Data collection was conducted through self-administered open-ended questions with data analyzed qualitatively and quantitatively through thematic and descriptive methods respectively. In this part it was found that slightly more than half of the subjects were awareness of on climate change while the rest had no idea on climate change or were uncertain about the concept. By contrast, about three quarters of the subjects were not aware about the difference between climate change adaptation and mitigation; a quarter of them had some knowledge on the difference while only about a tenth of them were well versed with the differences. 45.37% of the subjects agreed that their companies were proactive in climate change adaptation, 28.70% strongly in agreed, 14.81% were uncertain and 10.19% disagreed. Only 1.85% of the subjects strongly disagreed. Moreover, 60.19% of the subjects disagreed that climate change affects business while 40.74% supported the idea. 56% of the companies did not have the climate change adaptation plan versus 44% that had. Additionally, 72.22% of the companies did not have the sustainability strategy for climate change versus 27.78% that had. Regarding knowledge sharing on mitigation and adaptation with partners, slightly more than one third of the companies shared their knowledge with partners compared to slightly more than half of the companies that did not. The study recommended future research to explore on factors contributing to this practice in order to facilitate effective climate change management. (Author abstract)
Comparative performance of IPO in Japan and United States
(Southern New Hampshire University, 2001) Takei, Hideki; Samii, Massood
The increase in the initial public offerings (IPOs) in recent years has created a considerable interest in the study of their behavior. The price performance of post IPO has been studied extensively. However, these studies have focused on the US market and there is very little systematic analysis on the comparative performance of IPOs in various international markets. In this paper we evaluate post IPO performance of stocks in the US and in Japan. The major conclusion is that while the over all pattern of price performance is the same in both markets, there are differences that distinguish the two markets.
A cultural analysis of management styles : the United States with a new generation of managers in India and China
(Journal of Current Research in Global Business, 2008) Samii, Massood; Schragle-Law, Susan; Yan, Chang
In this study, the outcome of our research represented an interesting difference with both Hofstede’s and GLOBE’s results. Our focus is on well educated, highly trained managers from the US, India and China. The participants were upwardly mobile, some MBA educated, many trained in the Western style of management - essentially a new generation of managers. Questionnaires were given to managers working in multinationals in each of these countries and/or individuals with advanced education. This study extends the findings of Hofstede, the GLOBE and Level 5 Leadership by focusing on the management styles of the modern sector of emerging economies. The research suggests that there are significant and rapid changes on how to manage and how to compete in the new global economy.
Cultural influences on the development of marketing strategy for multinational retailers
(Southern New Hampshire University, 2005) Sparks, Roland J.; Nugent, Nicholas; Samii, Massood; Fellman, Philip Vos; Spirou, Patricia
This paper examines the affects of culture on the marketing strategies of multinational retailers. The paper develops a model of nineteen international retail marketing strategy factors and relates them to the five cultural factors of the Hofstede Model. The paper relates three of these factors (breadth of product assortment, retail format, and speed of retailer expansion) to Hofstede's cultural factors and various economic factors. The findings of the paper are: the cultural factors of power distance and individualism, and the economic factor of population are related to the breadth of product assortment; the cultural factors of power distance and masculinity, and the economic factors of GDP and population are related to retail formats; and the cultural factors of power distance and masculinity, and the economic factor population growth are related to the speed of retail expansion. The significant findings of the paper are: the inverse relationship between the cultural factor of individualism and increases in product assortment; and the positive relationship between the cultural factor of power distance and the increased speed of retail expansion. (Author abstract)
The effect of firm strategy and corporate performance on software market growth in emerging regions
(Southern New Hampshire University, 2013-05) Mertz, Sharon A.; Samii, Massood; Nugent, Nicholas; Broaden, Charlotte; Fixsen, William
The purpose of this research is to evaluate the impact of firm strategies and corporate performance on enterprise software market growth in emerging regions. The emerging regions of Asia Pacific, Eastern Europe, the Middle East and Africa, and Latin America, currently represent smaller overall markets for software vendors, but exhibit high growth rates and potential for greater opportunity as infrastructures improve, technology adoption accelerates, and firms refine their emerging market strategies. The research analyzes a data set of 102 publicly traded software firms which conduct business in at least one emerging region outside their home country headquarters location, and compares aspects of firm product strategy, go-to-market strategy, delivery models, research and development location investments, and corporate profitability ratios to aggregate emerging market growth rates. Findings indicate that decisions on product strategies (software only versus hardware and software), channel strategies (single vs. multichannel), and delivery models (multiple delivery models vs. SaaS/Cloud computing or on-premise only) are directionally associated with firm growth rates as predicted. Results also suggest that firm size and position within the industry life cycle and technology maturity curve are factors which may firm impact growth rates, and offer opportunities for further research.(Author abstract)
Energy policy and oil prices : system dynamics approach to modeling oil market
(Global Commerce Forum, 2010) Samii, Massood; Teekasap, Pard
The pattern of global oil demand, real oil price, and world economy in the future is studied through system dynamics modeling. Based on the simulation, the oil demand will drop and then gradually recover while the real oil price will be stable and then drop mimicking a sigmoid curve. The economy will continuously increase. If an economic stimulus policy is implemented, the oil demand is expected to have a shallower drop. Thus, the real oil price is likely to be an S-shaped curve with a higher value, and the economy is expected to grow faster as compared to the case when there is no stimulus policy.
Enterprise social networks : application to oil industry
(Journal of Global Commerce Research, 2009) Samii, Massood; Manus, Alexandru; Frutos, Dinorah
We believe that Enterprise Social Networks (ESNs) will help improve communication among stakeholders within the created "virtual" communities and improve overall operational efficiency of the industry. Such a model requires the creation of "network externalities" through a large number of participants in the network. It is postulated, that the larger the membership in the community the greater the advantages of membership. The paper demonstrates how ESN would work for the oil industry and explains how various members could benefit from their participation in the network. The value chain of the oil industry and its various participants as well as the interaction and business value creation for each enterprise group are discussed.
Euro pricing of crude oil : an OPEC's perspective
(Middle East Economic Association and Loyola University, 2004-09) Samii, Massood; Thirunavukkarasu, Arul; Rajamanickam, Mohana
In the late 1970s and the early part of the 1980s, a debate emerged within the Long Term Strategy Committee of the Organization of Petroleum Exporting Countries (OPEC) whether to continue the pricing of crude oil in United States dollars or to shift to an alternative currency. This debate was rooted in the persistent decline in the value of the United States dollar relative to other global currencies. The choice of currencies available to price crude oil was limited for OPEC because of the inadequate liquidity of most other currencies. With the recent emergence of the euro, the issue of choice of currency for pricing crude oil has emerged once again for policy discussion. The current paper is focused on the implications of a shift in the pricing of crude oil from United States dollar to euro on OPEC members. Winners and losers are identified based on economic gains and losses. It is concluded that while such a policy would incrementally benefit OPEC en bloc, it would result in a disadvantage for the countries whose major trading partner is the United States and, therefore, would not be a Pareto optimal solution.
The evolutionary mechanisms of hybridization in the current global environments of corporate governance : potential stabilities of hybrid structures
(Southern New Hampshire University, 2004) Takei, Hideki; Fellman, Philip Vos; Hassan, Mahboubul; Samii, Massood; Nugent, Nicholas
As stated in the dissertation, "Corporate governance is an important dimension of management. Appropriate governance practices lead companies to continuously improving prosperity by guiding them through environmental uncertainties and the risks of operations, especially operations in unfamiliar overseas environments. In this regard, effective corporate governance structures have been critical to the success of multinational enterprises (MNEs) that tend to face higher levels of uncertainty and risk than domestic corporations. In addition to the serious uncertainty and risk in international business environments, MNEs have had to deal with varying and often unfamiliar requests and values on the part of local investors and regulatory authorities. These groups frequently define their interests and the objectives of their investments on the basis of their own cultural and historical background. As financial markets have globalized, they have also been made more complex as a result of encouraging international investors to participate in several indigenous and multinational securities markets. These various requests, values and demands on the part of international investors or local regulatory authorities have often been a drag on the overseas performance of MNEs.2 While indigenous governance structures might be quite well suited to local values and regulatory demands, they are unable to deal with the requests and values of home country corporations and their investors. This provides a serious challenge to multinational corporate governance than the existing indigenous structures. In this regard, one of the latest findings is that more effective governance structures may come about through the emergence of hybrid governance. Hybrid governance is the result of a process whereby indigenous corporate governance structures are modified to accommodate international requirements, but without sacrificing deeply rooted historical and cultural values. In this regard, it is more accurate to speak of "hybridization", or a transformation of governance structure and a change in the overall governance paradigm, rather than a simple process of modification. A hybrid governance structure is, fundamentally, a new structure which while sensitive to local values, nonetheless meets a reasonable international standard of due diligence. Interestingly, some recent studies on hybrid corporate governance (Aoki, 2000) argue that the highest level of corporate performance in MNE's may come not from local governance structures, nor from overseas governance structures of the developed countries but rather from a hybridized governance system. While the superior potential performance of hybrid structures has been previously argued (Aoki, 2000), there have not been confirmatory studies of actual corporate performance to date. One reason for this is that the structure of emergent hybrid governance has not been clearly differentiated from that of more traditional concepts of corporate governance. In earlier studies, hybrid models were described as having "semistrong" governance attributes from different types of indigenous corporate and social structures (Williamson, 1996). By semi-strong, earlier authors, particularly Williamson, actually mean a system where external values are rather arbitrarily grafted onto local governance structures. In theory, this kind of structure draws upon relatively equal amounts from the overseas company's governance environment and the local governance environment. In terms of models, this kind of hybridization is relatively primitive. While these models attempt to mix local and international values, they do so in an unintegrated or additive fashion. In other words, while they may add governance provisions and requirements in relatively equal measure from both the local system and the international system, there is no attempt to integrate these two elements. In this case, the principal attributes of semistrong governance models are the result of an unstable hybrid model. The model is unstable because the process lacks any integrative function. An additional complication in the literature has been that hybrid corporate governance models have been traditionally addressed as a transitional phase of governance which is, on the whole, assumed to be following a pattern of global convergence (Bradley et al, 1998). The problem here is that convergence is assumed rather than demonstrated and this then results in a mischaracterization of the process of hybridization, and often in the definition of a model where the various elements of hybridization are inherently unstable (i.e., they are temporary, transitional mechanisms) (Williamson, 1996). One consequence of this mischaracterization is that by assuming hybridization is merely an intermediate step on the way to global convergence the hybrid model is seen as a merely temporary, intermediate process. Williamson (1996) sees hybrid structures as the "mid-point" on the path to convergence and he envisions a process where, after this mid-point, hybrid attributes start disappearing, in order to be replaced by rather unspecified "convergent" elements. Clarifying this process does not, unfortunately, lead to any better description of the process of evolution and adaptation in corporate governance structure. Where the point of governance has been most clearly articulated (Bradley et al, 1998; Logue and Seward, 1999) it turns out that the so-called "point of convergence" is simply the Anglo-American, purely contractarian system. Far from being a point of convergence, this would simply be the imposition of one local system across global markets. To date, recent historical evidence suggests that not only is such an outcome improbable (Kester, 1991; Roe, 1999; Aoki, 2000; Gilson, 2001; Licht 2002) but also that the "transaction cost proof of the universality of shareholder value is, at best, a delusion and at worst a pointless triviality (Fellman and Takei, 2003)." (Library-derived description)
Exchange rate fluctuation and firm value analysis of emerging market multinationals
(Southern New Hampshire University, 2006) Thirunavukkarasu, Arul; Aybar, Bulent; White, Charles; Samii, Massood; Fellman, Philip Vos
The purpose of this dissertation is to broaden the understanding of exchange rate exposure of Emerging Market Multinationals (EMNCs). It is well known that emerging markets are more risky than the developed markets therefore it was hypothesized that the exchange rate exposure of the EMNCs would be greater than the developed market multinationals (DMNCs). The findings of the thesis are as follows. Using a sample of 212 MNCs from emerging and developed markets it was found that a) More than 60% of the EMNCs and the DMNCs are significantly exposed to exchange rate fluctuations. This finding in is an improvement from the earlier studies in this area where the proportion of exposed firms was thought to be below 25%. b) Analyzing the magnitude of the exposure, EMNCs are 20% more exposed than developed market MNCs. c) On analyzing the direction of the real exchange rate exposure, EMNCs are predominantly positively exposed to the exchange rate risk, i.e., they gain in value with local currency appreciation. Since the EMNCs have significant multinational presence, it is concluded that the positive exposure is a result of presence of foreign currency debt. A direct implications of these findings for the investor community is that EMNCs are more exposed to exchange rate fluctuations than DMNCs. Further in analyzing the EMNCs as investment vehicles, attention has to be given to the level of foreign debt held by EMNCs as this can have direct implications on the firm value. (Author abstract)
Global shock transmission to emerging markets
(Southern New Hampshire University, 2003-07) Dasari, Usha; Dhakar, Tej S.; Samii, Massood
The process of global integration has intensified the competition in world markets during the 1990s. In the new environment, many developing countries are increasingly relying upon greater trade integration for upgrading their international competitiveness and promoting their dynamic comparative advantage. In view of growing global integration, this paper attempts to analyze whether Indian, Hungarian and Polish economies have become more internationalized as a result of economic reforms embraced by each of these countries in early 1990s and hence vulnerable to global economic cycles: the integration hypothesis. The paper applies variance decompositions derived from vector auto regression to assess the degree of economic integration of the three economies with U.S. economy. The study concludes that, in the pre-liberalization period U.S. economy did not influence the Indian, Hungarian and Polish economies. Shocks from U.S. had no impact on their aggregates. In the post liberalization period, however, the results are mixed. Hungarian aggregates show very low degree of integration with US followed by Poland, and India. Although, all the three countries have shown varying degrees of integration in the post-liberalization period, none of the economies are found to be overly vulnerable to international shocks. It can be argued that despite opening of economy and transition towards integration with the global economy, the degree of integration across countries still remains significantly low.
The impact of country attitudinal brand equity on country financial brand equity : the case of the United States
(Southern New Hampshire University, 2009) Harrison, Michael J.; Nugent, Nicholas; Samii, Massood; Fellman, Philip Vos; Hecox, Mark
Approaching a country as a brand is growing in importance and significance. The advent of globalization, geopolitical concerns and global environmental issues place nation states in highly visible positions where a country’s brand is a concern for nation state policy makers as well as for the country’s businesses and citizens. Country brand equity derives from firm brand equity and the research similarly follows two major streams; brand equity as an emotional construct (i.e. trust, loyalty, emotional connection) and as a financial construct (i.e. brand value NPV calculations, Tobin’s Q, sales, market share) Recent debate surrounding the brand equity of the United States centers on the impact of attitudes toward the US and their impact on US businesses. The aim of this research is to determine, from a macro country level, if country attitudinal brand equity has an impact on country financial brand equity, and if so, to what extent. Based on in-depth interviews with US International Trade Representatives, and the recent literature on country brands, this study uses Granger Tests of Causality to determine the relationship between country attitudes toward the US and country imports of US goods and US export market share. This study then derives, validates and compares three country brand equity models using Structural Equation Modeling. This dissertation contributes to the marketing literature by advancing our understanding of US country attitudinal brand equity and its impact on US financial brand equity. This research demonstrates that the relationship between country attitudinal brand equity and country financial brand equity is statistically significant and that attitudes toward the US impacts US export market share, yet is the impact on US exports is less certain. Specific recommendations for nation state policy makers, business managers and future areas country brand equity research are also included. (Author abstract)
The impact of international cross-listings on firm value after the Sarbanes–Oxley Act: Evidence from American depositary receipts
(Southern New Hampshire University, 2012-03) Cao, Man Minh; Aybar, Bulent; Samii, Massood; Ficici, Aysun; White, Charles
The Sarbanes-Oxley Act is formally named the Public Company Accounting Reform and Investor Protection Act of 2002. The act is arguably one of the most significant reforms to affect the U.S. stock markets since the Securities Exchange Act of 1934. This study compares valuation implications of ADR announcements before and after the introduction of the act. A total of 234 ADR announcements are analyzed over a time frame spanning from 1994 to 2010 by employing event study methodology. Even though several studies attempt to explore the effects of the act on the value of firms issuing American Depository Receipts (ADR), reported results are either negative or positive. The empirical results presented in this study indicate that the impact on ADR issuing firms is not negative. The observed cumulative abnormal returns (CARs) reveal that investors on average positively react to ADR issue announcements during the post Sarbanes-Oxley period. However, empirical results do not lend support for the hypothesis that CARs are significantly different during the two periods analyzed in the study.
Incentives for sustainability in the European Union: Analysis of institutional factors, governance issues, and tax policy
(2014-03-27) Zilch, Kathleen Byrne; Samii, Massood; Nugent, Nicholas; Ficici, Aysun; Caruso, Karin
Sustainability and the debate over climate change have become hot topics in the literature and news. Global reactions to the mounting scientific evidence have evolved rapidly in recent years, as an increased sense of urgency has emerged. On September 27, 2013, the IPCC announced that there is a 95% probability that climate change has been caused by humans. This announcement, in conjunction with extreme weather events in recent years, has created even more urgency for policymakers to address climate change issues. Since the EU has been successful in decreasing its GHG emissions, its institutional factors, governance structure, and energy tax policies are examined. Institutional structures vary greatly between developed and developing countries, which may impact the “green-ness” of firms operating within those regions. Previous studies examine institutional factors in both developed and developing nations; however, the literature lacks sufficient research in the area of “green-specific” institutional factors. The “green-ness” of firms in developed versus developing countries is examined. The “greenness” of firms from EU-member nations are also compared to those based in both developed and developing countries. The Newsweek Green Index is tested for significance. Governance issues, specifically agency problems, are abundant in efforts to reduce global carbon emissions. Extensive research has been conducted related to firm-level governance; however, research is lacking in the area of agency issues inherent in global collaboration. Despite the EU’s multilateral governance structure, the EU was one of the few Kyoto members to reach its emissions reduction target for the period ended 2012; however, this could be offset by the inaction of developing countries. Since the EU “green” policies have focused on energy-related emissions, Eurostat’s emission data relative to developing countries (excluding deforestation) is tested. Tax policy is one of many methods which countries can use to reduce GHG emissions. Previous studies have focused on cap and trade as well as international tax competition; however, the literature lacks sufficient research on the effectiveness of the EU’s energy tax policies. This section examines the effectiveness of the 2003 EU Energy Taxation Directive in encouraging “green” activities. Eurostat’s “implicit tax rate on energy” is tested for significance. (Author abstract)
Innovation and firm performance: A comparative study of rapidly developing economies & the European Union
(Southern New Hampshire University, 2015-03-31) Caron, Michelle I.; Samii, Massood; Nugent, Nicholas; Dhakar, Tej; Ficici, Aysun
This dissertation analyzes the innovation efforts of large, technology-intensive firms as they pertain to firm performance. The research examines two distinct groups of technology intensive firms deriving from countries with opposing stages of economic development and contrasting demographics of their populations: Rapidly Developing Economies (RDEs) and European Union (EU) countries. Technology enables firms to re-imagine their core competencies, improve existing processes, and model improved processes and routines. By understanding the return on investing in innovative pursuits, firms could adapt strategic business models to capture firm growth that has previously been under-developed and secure a competitive advantage. Likewise, local and national government agencies could offer specific incentives to help ensure longevity and sustainability to their position in world markets and identify previously untapped trading partners and strategic alliances. In addition, strategists would be better equipped to support and target R&D initiatives during declines in the market and/or industry. The results are reported according to manufacturing and service industries. The studies indicate that the most profitable firms derive from the service sector versus manufacturing. Custom Computer Programming firms represents the highest profit margins in EU countries and Computer Programming Services represents the highest profit margins for RDE countries. Despite more firms being represented from RDE than the EU, these firms do not spend more than large, technology firms from the EU. Upon investigating which group acquired more patents, it was found that RDE countries have more patents granted than EU countries. In addition, RDEs currently have more high-tech exports as a percentage of manufactured goods per capita than EU countries. The impact of the global recession appeared to have an impact on large, technology-intensive firms in the EU in particular, while a majority of RDE firms have already returned to or have exceeded pre-recession levels. The incorporation date was also examined to determine both the age of firms included in the study, as well as the labor capital of both groups. It was determined that RDE firms included in the study hire significantly more employees than EU firms, and more manufacturing employees were hired than those in the service sector.(Author abstract)
The international photovoltaics industry : an analysis of multinational firm marketing strategies
(Southern New Hampshire University, 2008) Allen, Brad; Nugent, Nicholas; Samii, Massood; Vos Fellman, Phillip; McDougall, Duncan C.
The photovoltaic energy markets around the world have progressed unevenly, primarily as a result of industry-specific externalities regarding political, environmental, and economic market factors. Photovoltaic technologies present solutions that address the concerns about pollution and long-term energy security attributed to contemporary electrical generation methods. To date, photovoltaic technologies have not met the levels of anticipated electricity contribution on an international basis, even though awareness of global warming and demand for electricity both continue to rise. (Author abstract)

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