Activities Of Foreign Companies Research Articles

Якісна модернізація консалтингових послуг у процесі іноземного інвестування повоєнної відбудови економіки України

In the conditions of post-war recovery of Ukraine, the tasks of consulting companies that will be serving the processes of foreign investment of the economy will become much more complicated. The article is aimed at defining the current approaches to qualitative modernization of provision of consulting services to foreign investors and domestic recipients of funds on the basis of observance of the principles of sustainable development and technological innovations. In the process of research, general scientific research methods were used: generalization, abstraction, structural-system method, classification. Qualitative modernization of modern consulting services for participants in the process of foreign investment involves improving the quality of services taking into account the conception of sustainable development, the use of novel technologies, the introduction of compliance control into the activities of companies and the formation of a special (integrated) package of services. According to the current requirements on the part of foreign investors, compliance should be an obligatory component of corporate governance in their partner companies – being an effective instrument to combat dishonesty and comply with standards in three areas – E (environmental), S (social), G (governance), or ESG. Digitalization of consulting companies raises the quality and variety of services to a new level, providing increased productivity of consultants; providing the ability to operate with large amounts of information, solve previously inaccessible tasks; creating conditions for communication between investment project participants in real time, etc. An additional factor in ensuring the quality of services to foreign investors is the real possibility of communication and work with documentation in the native language of a foreign customer, taking into account the specifics of its linguistic and cultural environment. In further research, it is advisable to study in detail the experience of using the conception of ESG and compliance in the activities of foreign companies and its implementation in the activities of Ukrainian companies.

Development Trends of Regional Economies in Russia

The expert community is actively working to determine the depth of the consequences for the domestic economy of large-scale sanctions pressure. One of the directions of such an analysis is the assessment of the situation in the social sphere and in the real sector of the economies of the constituent entities of the Russian Federation. It is obvious that the differences in the levels of development of regional economies; varying degrees of depth of their immersion in world economic relations; the volume of regional budget revenues received from the activities of foreign companies located on their territory and other factors will predetermine the amount of damage inflicted on Russian regions. To minimize its magnitude and, most importantly, to develop a viable strategy for overcoming the crisis, it is not enough to fix the scale of losses. An effective strategy requires foresight, and it is impossible without understanding the nature and direction of trends in the development of regional economies, at least in the medium term. This article proposes one of the possible options for the methodology to answer these questions. The authors believe the approach is quite correct, because the trends in the development of the economies of the constituent entities of the Russian Federation were studied based on an analysis of the situation that took place during the pandemic. The first version of the methodology was tested in 2021 and presented in issue 4 of the journal Federalism. Below is a refined version of the methodology, the use of which gave more reliable results.

Impact of changes in economic pressures on the activities of foreign oil and gas companies in Venezuela

The article discusses several new laws in the oil and gas sector of Venezuela, which appeared at the beginning of the 21st century. It also presents the tax regimes in this area of the country and the types of tax and economic burdens that apply to these regimes; highlights the main problematic aspects of changes in tax legislation and the consequences on the activities of foreign companies and the development of the oil and gas sector of the country as a result of such changes. It is concluded that the increase in state revenues not solve the problem of attracting investments in the oil and gas sector of the country, and only scare off a large company in the future (Exxon Mobil and ConocoPhillips have left the Venezuelan market), resulting in a fall in production at the country, its government revenues, and then slowing down economic growth in the country. As an alternative approach to improving state regulation and the conduct of the oil business in the country, the options for improving this situation are presented: to increase the share of foreign companies in strategic partnerships; review the tax system for oil companies; allow some programs to be implemented directly by foreign companies; and propose new distribution and profitability schemes that will adapt to the current international hydrocarbon market.

Features of interaction between the state and transnational corporations in the countries of Latin America

The article examines the place of transnational corporations (TNCs) in the political process of Latin American countries, their interaction with state institutions and political actors. The purpose of the article is to identify the most characteristic features of the activities of TNCs in the political sphere in Latin America and their interaction with state institutions. Applying the main provisions of neo-institutional and network approaches, the author analyzes the key resources of TNCs and the possibility of using them to increase influence in the political sphere: converting financial assets into political resources; government support from the country of origin; effectiveness of introduction of innovations and implementation of innovative potential; access to the development of strategic industries; relatively low pressure from civil society. Among the various types of relationships between TNCs and the states of Latin America, it is proposed to distinguish cooperative, conflict and neutral, examples of such types are given. Particular attention is paid to the choice by corporations of bargaining and nonbargaining strategies of political behavior. The author concludes that the most characteristic features of the interaction of TNCs and state institutions in Latin America are the following: the desire of a state to control the activities of foreign companies on its territory; creation and support of multinational companies with state participation; striving for the nationalization of transnational business in the event of the establishment of authoritarian regimes.

Financial Crisis and Earnings Management Under U.S. GAAP and IFRS

This paper examines the effects of the global financial crisis of 2008 on real and accrual-based earnings management activities of foreign companies listed in the United States as American Depositary Receipts (ADRs). The ADR firms are classified according to whether they report under U.S. Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS). Accrual-based earnings management is measured using the absolute value of performance-matched discretionary accruals. We also use the positive and negative values of performance-matched discretionary accruals to examine income-increasing and income-decreasing earnings management, respectively. Real earnings management proxies are measured using performance-matched measures of the abnormal levels of cash flow from operations, production costs, and discretionary expenses. In summary, our findings indicate no difference in accrual-based earnings management for ADRs reporting under IFRS and U.S. GAAP but suggest that ADRs reporting under IFRS are more likely to manage earnings using income-decreasing discretionary accruals and aggregate real earnings management than ADRs reporting under U.S. GAAP during the financial crisis.

ОСОБЕННОСТИ ГЛОБАЛЬНОЙ ИНВЕСТИЦИОННОЙ ПОЛИТИКИ: СОВРЕМЕННЫЕ ТЕНДЕНЦИИ И ПЕРСПЕКТИВЫ

The article highlights the current problems of investments in the development of the world economy, when international investment needs are significantly high. The priority is given to the issues of investment resources for achieving the goals of sustainable development of the world economy. It has been stated that for creating the effective economic policy, the countries need to attract foreign investment. The current trends in the development of global market for foreign direct investment flows are examined. The flows of global foreign direct investment in 2017-2018 are analyzed. Special attention is given to the study of the US investment policy. The reduction in US investments into the Russian economy in terms of the sanctions policy against Russia is marked. The changes in the investment policy of the administration of D. Trump in terms of strengthening American protectionism are underlined. The issues of US-EU investment cooperation are considered. The role of the US Federal Reserve in regulating the activities of foreign companies in the US market is defined. The main decisions taken at the X World Investment Forum of the United Nations Conference on Trade and Development in October, 2018 are considered. The role of investment promotion agencies is defined as one of the tools to attract foreign investments into the country's economy. The decrease in the level of international investment and increased competition between countries for attracting foreign investment is stated. The study confirms that the investment attractiveness of the country, stability of the national financial system, and legal security of business play a decisive role in attracting foreign direct investment.

Internationalization of the oil and gas complex in Latin American countries

This article discusses the participation of foreign companies in the oil and gas complex of key Latin American countries. Special attention is paid to their origin and location of production assets in the host countries. Despite the participation of foreign capital in the oil and gas complexes of each of the countries considered, the degree of their internationalization is different and defies general trends. The main reasons for this are the presence of local state-owned companies and the foreign investment policy of economies. At the same time, the activities of foreign companies in Latin American countries are concentrated in the hydrocarbon production sector rather than their processing.

Czynniki wpływające na kurs walutowy złotego w latach 2002–2010

Based on the Polish balance of payments, the euro zone, Great Britain, Switzerland and the United States we can determine what factors most influence on changes in the exchange rate. One can also attach to them influence of the rate of growth of national income, inflation and changes in the budget balance. In the case of Poland important are data on the activities of foreign companies. Exports of foreign companies operating in Poland has become the engine of our country's foreign trade. It aims to gradually balance the Polish trade balance. Moreover, the Polish financial situation stabilizes, although, the imbalance of the state budget balance distorts it slightly. The calculations omit the factor of profiteering activity. The article demonstrates that the zloty exchange rate, during the financial crisis affects the balance of payments most countries with strong currencies, not the balance of the Polish economy.

The effect of selected U.S. market conditions and exchange rate variability on merger and acquisition activities of foreign companies in the United States

The effect of selected U.S. market conditions and exchange rate variability on merger and acquisition activities of foreign companies in the United States

Politique commerciale et contrôle de l'investissement étranger: l'expérience canadienne

RésuméCet article porte sur l'adaptation de la politique canndienne de l'investissement étranger à la libéralisation des échanges. L'objectif est de faire ressortir les nouvelles mesures de contrôle appliquées entre 1975 et 1983 aux firmes étrungères, L'auteur retrace d'abord le développement des relations entre les États et les multinalionales, puis les grandes orientations des principales expériences de contrôle de l'investissement étranger au niveau international. II analyse ensuite la situation canadienne en étudiant quatre mesures gouvernementales: l'aide directe, les politiques d'achat, l'Agence d'examen de l'investissement étranger et les mandats mondiaux. Ces mesures ont un impact sectoriel et visent surtout à accroître les retombées industrielles de l'activité de multinationals.

Innovation in canada: an update

In October 1971 the Science Council of Canada published a report on the lowly status of innovative activities in domestic manufacturing. Early in 1972, and again a year later, the Senate Special Committee on Science Policy added some further notes of concern about innovation in the industry in the second and third volumes of its Report. This article reviews the relevant conclusions and recommendations of these documents as well as the government action which had - or had not - been taken in response to them by the autumn of 1975. Attention has been focussed primarily on the federal government which has, for example, introduced several favourable tax measures, passed legislation to screen certain activities of foreign companies, established a new policy to encourage the further processing of natural resources prior to export, and has instructed its own departments and agencies to contract out more of their research requirements to the private sector. It has also encouraged its Ministry of State for Science and Technology to study industrial problems and to develop policies for their solution, and it has established a new bank to provide extended financial assistance and management services to small companies. But the government has still to comply with the Science Council's principal recommendation that an overall national strategy for manufacturing should be formulated. The industry is in some doubt about its future. In the short term, this uncertainty is likely to be aggravated by the difficult economic situation in the industrial world as a whole. The major impediments to innovation in manufacturing in Canada are therefore likely to remain in place for some time to come.