Cross-border Operations Research Articles

Reactions of Borsa İstanbul Tourism Sector Investors to Terrorist, Political and Military Events

Çalışmada, terör, politik ve askeri olaylara turizm sektörü pay yatırımcılarının tepkisinin incelenmesi amaçlanmıştır. 2016 yılı sonrasında yaşanan 15 Temmuz darbe girişimi, seçimler, Fırat Kalkanı (2016), Zeytin Dalı (2018) ve Barış Pınarı (2019) sınır ötesi harekâtları incelenen olaylardır. Olay çalışması yöntemiyle on işletmenin günlük verilerinde ortalama getiri modeliyle getiriler hesaplanmıştır. Olay gününde 15 Temmuz’un negatif, Zeytin Dalı’nın pozitif anormal getiriye sebep olduğu bulgulanmıştır. 21 günlük olay penceresinde 15 Temmuz’un negatif, sırasıyla Genel Seçim, İBB ara seçimi ile Barış Pınarı’nın en yüksek pozitif kümülatif ortalama anormal getirilere sebep olduğu saptanmıştır. Elde edilen bulgular terör ve güvenlik riskiyle, askeri olaylara turizm sektörü yatırımcı duyarlılığının politik olaylardan yüksek olduğunu göstermektedir.

EU Freedom Of Establishment And The Theories Of Incorporation In The Context Of Free Movement Of MNEs

The creation of a single market with no internal borders where free mobility is guaranteed is one of the main goals of the European Union. Accordingly, along with certain fundamental freedoms, Treaty on the Functioning of the European Union (TFEU) provides the right of establishment for nationals as well as companies in a territory of another Member State. Accordingly, a decentralized nature of multinational enterprises (MNEs) involves various cross-border operations. The aim of this paper is to explore to what extent these transnational objectives of MNEs can be achieved under the freedom of establishment principle of EU law and incorporation theories of Member States. Firstly, it analyzes different scenarios of company mobility such as transfer of registered office or real seat and transnational mergers. Secondly, it examines the freedom of companies to choose legal forms of their cross-border establishment. Finally, it evaluates the most recent judgment in Polbud case in the light of decisions made in previous cases.

Reducing tax compliance costs through corporate tax base harmonization in the European Union

The aim of the Common Consolidated Corporate Tax Base (CCCTB) proposal made by the European Commission is to reduce both tax compliance costs and tax avoidance opportunities of cross-border operations within the European Union. However, to date the scarcity of comparable estimates of tax compliance costs has limited researchers’ ability to assess the probable impact of this proposal. We exploit recently released unique survey data designed to provide comparable information on corporate tax compliance costs in order to assess the impact of the CCCTB, using a general equilibrium modeling approach. Our results suggest that the reduction in tax compliance costs would be associated with greater economic efficiency. Member states with the lowest compliance costs before the reform and those that have large inward foreign investment stock would benefit more than other member states. Cross-border business operations would also benefit more than domestic ones. The impact on non-EU countries, such as the US and Japan, would be limited.

Инновационные формы управления и кибербезопасность безналичных расчетов в условиях цифровизации банковской экосистемы

Changing behavioral skills of consumer financial services and the growing competitive pressure of startups are destroying traditional business models and prompting the creation of new strategies. For this reason, banks and other regulated financial intermediaries strive to quickly master developments in the field of financial technologies and change the formats of customer service, taking into account the capabilities of their budgets. The existing methods of making cross-border transfers and non-cash payments using their traditional forms, as well as new-generation digital financial instruments, are not supported by a high-quality regulatory framework. In this regard, it is important to study the stages of transformation of forms of interaction between participants of non-cash payments under the influence of the scientific and technical process, a comparative analysis of modern methods of international payments, and justification of mechanisms for integrating digital financial instruments based on distributed Ledger technology into cross-border settlement and payment operations. We also analyzed internal Bank programs for organizing internal control and managing Bank risks, using the example of Sberbank. The results of the study of these problems are reflected in this article.

عملیة میونخ (أقریت وکفر برعم*) سبتمبر 1972م

عملیة میونخ (أقریت وکفر برعم*) سبتمبر 1972م

Transnational Capital and the Trend of Global Interactions

ABSTRACT Economic globalization has been accompanied by the cross-border development of class relations. Resting on large-scale cross-border operations by transnational corporations, capital is accelerating the formation of a transnational capitalist class. The capitalist world has formed new, contradictory relations based on a multitude of existing inherent contradictions, rendering the world situation still more complex. In the late twentieth century, a number of scholars began to focus on this phenomenon, discussing various of its aspects such as the gap between rich and poor brought about by the formation of a transnational capitalist class on a global scale; the transnational capitalist class and the question of global hegemony; and the relation between the transnational capitalist class and the world system. Their discussions have since attracted the attention of Chinese scholars. This paper presents a basic theoretical analysis of the above phenomenon using the methodology of historical materialism, while also summarizing and commenting on the opinions of representative scholars.

Corporate Social Responsibility and Economic Globalization: Mainstreaming Sustainable Development Goals into the AfCFTA Discourse

There is a widely held belief that a borderless global economy brings numerous advantages including economic growth, development and welfare maximization. Globalization equally drives (and is driven by the activities of) large corporations involved in cross border operations. While corporate social responsibility (CSR) is a tool with which integrated developed economies ensure corporate behaviours remain within public interest confines, the regional integration agenda in Africa appears focused on liberalization of trade and investment at all costs. This article examines CSR in regional integration discourse, especially within the European Union, extracting important lessons for the African Continental Free Trade Area (AfCFTA). It unifies the ultimate agenda of both CSR and African regionalism in achieving sustainable development. Advising against misconstruing CSR as an unnecessary trade barrier, the article demonstrates why and how CSR values can be mainstreamed into AfCFTA discourse towards ensuring inclusive growth in Africa and improving the global competitiveness of domestic businesses. AfCFTA, Africa, CSR, Corporate Responsibility, Regional Integration, Sustainable Development Goals, Trade Liberalization.

Transportation of Patients in Critical Condition Across an International Border, What is the Impact on Their Odds of Full Recovery and Survival? - Case Study at the U.S.-Mexico Border Region

ABSTRACT This paper examines the impact of Patient Transport Time (PTT) on the transportation of critical patients in border regions when emergency medical care across an international border is required. Ambulances transport patients across the Mexico-U.S. border through Land Ports of Entry (LPOEs). The goal of this paper is to determine if PTT required to transport patients in critical condition from Mexico to the U.S. across the international border impacts their odds of full recovery and survival. The paper uses El Paso, U.S.-Ciudad Juarez, Mexico binational region as a case study. In this region, patients are transported across the border via Bridge of the Americas (BOTA) Non-commercial LPOE. Currently, there are no formal procedures to expedite ambulance cross-border operations at this LPOE. This paper concludes that PTT significantly impacts odds of full recovery and survival of patients in critical condition transported across the border. Results show that these patients will face high-risk situations, this is a significant reduction of their odds of survival, when departure time is located from 7 am to 9 am, and from noon to 8 pm. Under these circumstances, the transportation of the patient to the closest hospital in Ciudad Juarez would be safest option.

World trends of derivatives` market development

Derivatives markets have long ago started to be an important part of the global market in general and international monetary relations in particular. They make the process of risk management more advanced. It helps bringing the global monetary relations to a higher development level. Global trade in derivatives performs the functions of integration of regional capital markets and helps the global economy participants reduce available risks and concentrate on the further development of international trade and monetary relations. Therefore, the derivatives market contributes to reducing the risk level and balancing the international capital flow. Modern world trends in the derivatives’ market development are studied. The structure of the world derivatives market is determined with the separation of its exchange and over-the-counter parts. The instrumental structure of the market is analyzed with the separation of the most popular underlying assets among the derivatives market participants. The author notes that the share of interest rate and foreign exchange derivatives is constantly growing, with an advantage on the side of interest rate derivatives. The paper determines that there is a gradual shift of trade from exchanges to the over-the-counter market in the market of interest derivatives due to the passage of transactions through central counterparties, as well as the growing share of electronic and automatic trading. Analysis of the dynamics of foreign exchange derivatives reveals that contracts increasingly include currencies that do not belong to the top four (USD, EUR, JPY, GBP). At the same time, the US dollar remains the leading currency in operations with interest rate and foreign exchange derivatives. The cross-border operations with derivatives are analyzed. The paper proves that the global nature of the modern derivatives market can be supported by the recognition and implementation of global standards and the cooperation of regulators around the world.

Harmonizacija prekograničnih kretanja privrednih društava u pravu EU

In this paper the author presents an overview of the EU legal framework for cross-border company's mobility. It gives a historic background to various obstacles related to cross-border mobility and puts it into the context of the European Court of Justice decisions on the various issues of right of establishment. EU Company Law Directive on Cross-border Mobility regulates cross-border conversions (resulting in the change of applicable law and at least registered seat of the company) and cross-border divisions for the first time. It also improves already existing regime for cross-border mergers. Directive on CrossBorder Mobility gives an opportunity for various internal market participants, including economically strong as well as smaller business forms to use advantages of predictable, efficient legal procedure to perform cross-border operations. It includes various harmonization instruments in order to protect interests of (minority) shareholders, creditors and employees. Double control, including issuance of the pre-merger certificate in the country of origin and control of the procedure in the destination country before cross-border procedure has been registered and becomes effective provides for optimal co-ordination of national authorities, and offers safe business environment for various market participants.

Firm-Embedded Productivity and Cross-Country Income Differences

We measure the contribution of firm-embedded productivity to cross-country income differences. By firm-embedded productivity we refer to the components of productivity that differ across firms and that can be transferred internationally, such as blueprints, management practices, and intangible capital. Our approach relies on micro-level data on the cross-border operations of multinational enterprises (MNEs). We compare the market shares of the exact same MNE in different countries and document that they are about four times larger in developing than in high-income coun-tries. This finding indicates that MNEs face less competition in less-developed coun-tries, suggesting that firm-embedded productivity in those countries is scarce. We propose and implement a new measure of firm-embedded productivity based on this observation. We find a strong positive correlation between our measure and output per worker across countries. In our sample, differences in firm-embedded productivity account for roughly a third of the cross-country variance in output per worker.

Romanian SMEs Internationalization in the Light of Internal Capabilities and External Conditions. A Secondary Data Analysis

Abstract The topic of small and medium-sized enterprises (SMEs) within the framework of the internationalization phenomena has often hewed the paths for many conceptual and empirical analyses all the more so as the global environment has pushed smaller actors out of their regular habitat. Issues such as the support of SMEs innovative capabilities, of knowledge sharing mechanisms and collaborative networks via cross-border operations or as the thorough adjustment to the new market conditions have sprung as pivotal concerns for both academics and practitioners interested in business development, performance, innovation and effectiveness from a myriad of perspectives. Giving credit to these research and real-life priorities, the current paper aims to discuss different facets of the SMEs internationalization process, laying emphasis on their internal capabilities and external conditions. The empirical undertaking relies on a secondary data analysis which covers the facts and figures comprised by European official reports. The focus is on the Romanian SMEs internationalization variables which are descriptive of the current state of cross-border dynamics. The findings advance that Romanian entrepreneurs and SMEs have been supported in the recent years by a series of European and national governmental initiatives, yet many additional measures and facilitation instruments are needed to properly improve their overall performance on international markets.

War on the Hoof: regional security in Africa and livestock conflicts

ABSTRACTCattle rustling and conflicts between herders and farmers have long existed in several areas in Africas. In recent years, however, both security challenges have increased exponentially. The extent of the problem, exacerbated both by organized crime links and corruption, has reached levels in which it should now be viewed as a national security issue. This particularly is the case due to most of the criminality and conflicts occurring in border regions and involving cross-border operations. The rise of local uncontrolled armed groups, significant conflict between ethnic groups, inability of the regional governments to gain control of peripheral areas, and the increased politicization of the conflicts all indicate an environment that is highly conducive for creating the rise of insurgent movements.

Editorial: The Adopted Proposal for an EU Directive on Cross-Border Operations: A Realistic Compromise

Editorial: The Adopted Proposal for an EU Directive on Cross-Border Operations: A Realistic Compromise

Regulatory Convergence in the Financial Periphery: How Interdependence Shapes Regulators’ Decisions

Abstract We examine the processes by which regulations prevailing in countries at the core of the global economy spread to countries outside this small group. We show how specific cross-border relationships between banks, regulators, and investors generate regulatory interdependence that drives the diffusion of international standards from the standard-setting countries at the core of the financial system to the financial periphery. We argue that regulatory decisions in the financial periphery are shaped by the prior choices of regulators in other countries, mediated through four specific cross-border relationships associated with banking globalization. We draw on a new dataset of Basel II adoption in over ninety jurisdictions in the financial periphery. Using spatial lag models we show that regulators’ decisions over the adoption of international standards are shaped by the choices of regulators to whom they are connected through the cross-border operations of individual banks, international professional networks, and competition for capital. Our analysis underscores the value of parsing out the relevant actor-level linkages that connect countries: while international considerations shape regulatory decisions, what matters is not the extent to which countries are connected to the global economy but rather the nature of these connections.

Regulations and location choices of top R&D investors worldwide

This paper explores how the interaction of different framework conditions affect the way in which top corporate R&D investors organise their cross-border operations worldwide. The analysis uses location-specific aspects, socio-economic factors and other controls common in the economic geography literature to investigate the distribution of a company's international subsidiaries. The location drivers are estimated using a multilevel mixed-effects logistic regression, controlling for both country characteristics and company specific random effects. Our results confirm that framework conditions, as product market regulation (PMR) and labour market legislation (EPL), affect the location strategies of top R&D investors. Adding to the literature we also found that: (i) PMR and EPL exert a mutually reinforcing negative effect on the location of subsidiaries, (ii) the effect of EPL is not significant for low levels of PMR, and (iii) barriers to trade and investment is the PMR component with the largest negative effect. Policy implications are drawn accordingly.

Diving Deeper in Performance Indicators: What Do We Know About the AEO in Brazil?

Controls are useful to combat unfair competition, protect consumer health, combat illicit trade and promote development. On the other hand, controls or inefficient processes may affect the flow of trade and may compromise the competitiveness of economic operators. This paper aims to analyse performance indicators related to international trade and cross-border operations from the economic operator perspective. The method compares the analysis of the indicators found in literature to the indicators at the regulatory level. As a result, our study provides a useful opportunity to unveil the authorised economic operator (AEO) indicators in an implementing country.

The Construction of Containment Anxiety: A Critical Geopolitical Analysis of Turkey’s Military Intervention into Syria

The Turkish Armed Forces successfully executed two consecutive cross-border operations (Euphrates Shield and Olive Branch) in Syria following the failed coup d‘état in 2016. Turkey‘s supposedly traditional ―Kurdophobic‖ reflexes were widely deemed as the motivation behind these operations. However, these assertions are weak when it comes to Turkey‘s relatively harmonious relations with Iraqi Kurdistan and the significant portion of Turkish Kurds‘ endorsement of the incumbent Turkish government. Moreover, the fact that the Turkish government was not a hardliner against the Kurdish-led outlawed Democratic Union Party and its military wing People's Protection Units in the early days of the Syrian Civil War undermines these essentialist and reductionist contentions. This article proposes a geopolitics-driven and more holistic explanation to the Turkish military campaign into Northern Syria. Its objective is to provide a more comprehensive insight into Turkish geopolitical manoeuvres in Syria, to set the contextual and ideational background of the military operations and to present Turkey‘s cognitive horizon for its actions within its vicinity. The article anchors its theoretical basis in the ―critical geopolitics‖ approach in order to place the Turkish intervention into a broader geopolitical context.

"Nine Dimensions": A multidisciplinary approach for community engagement in a complex postwar border region as part of the targeted malaria elimination in Karen/Kayin State, Myanmar.

Background: In light of growing antimalarial drug resistance in Southeast Asia, control programmes have become increasingly focused on malaria elimination, composed of mass drug administration coupled with prompt diagnosis and treatment of symptomatic cases. The key to a successful elimination programme centres on high participation rates in targeted communities, often enhanced by community engagement (CE) efforts. Social science research was conducted to develop a conceptual framework used for CE activities in the Targeted Malaria Elimination programme, as a cross-border operation in Karen/Kayin State, Myanmar. Methods: Data was collected from three main sources: (1) participant observation and semi-structured interviews of CE team members; (2) participant observation and semi-structured interviews with villagers; and (3) records of CE workshops with CE workers conducted as part of the TME programme. Results: Interviews were conducted with 17 CE team members, with 10 participant observations and interviews conducted with villagers and a total of 3 workshops conducted over the course of this pilot programme in 4 villages (November 2013 to October 2014). Thematic analysis was used to construct the nine dimensions for CE in this complex, post-war region: i) history of the people; ii) space; iii) work; iv) knowledge about the world; v) intriguing obstacle (rumour); vi) relationship with the health care system; vii) migration; viii) logic of capitalism influencing openness; and ix) power relations. Conclusions: Conducting CE for the Targeted Malaria Elimination programme was immensely complicated in Karen/Kayin State because of three key realities: heterogeneous terrains, a post-war atmosphere and cross-border operations. These three key realities constituted the nine dimensions, which proved integral to health worker success in conducting CE. Summary of this approach can aid in infectious disease control programmes, such as those using mass drug administration, to engender high rates of community participation.

Дослідження тенденцій розвитку міжнародної інтернет-торгівлі та міжнародного поштового обміну

Мета. Аналіз тенденцій розвитку міжнародної інтернет-торгівлі та міжнародного поштового обміну у їхньому взаємозв’язку. Методика дослідження. Теоретичною основою дослідження є наукові праці вітчизняних та зарубіжних вчених за досліджуваною проблемою. У процесі роботи були використані загальнонаукові методи та прийоми: монографічний – для вивчення літературних джерел з теми дослідження; формальної логіки – для аналізу, узагальнення і систематизації матеріалу; табличний та графічний – для наочного відображення проаналізованих даних; абстрактно-логічний – під час обґрунтування теоретичних положень і формулювання висновків. Результати. Проаналізовано динаміку показників розвитку електронної торгівлі України у 2014–2017 рр. і встановлено, що вони характеризуються вищими темпами зростання, ніж показники обсягу роздрібної торгівлі; зростає кількість транскордонних операцій; лідерами поставок товарів в України є AliExpress, eBay та Amazon. Узагальнено умови виконання замовлень зарубіжними торговцями. Виявлено, що найбільша частка обсягом реалізованих міжнародних послуг у сфері телекомунікацій та поштового зв’язку припадає на м. Київ, Львівську, Одеську, Київську та Харківську області, що пояснюється наявністю саме у цих регіонах місць міжнародного поштового обміну (проведення митних формальностей стосовно міжнародних поштових відправлень) та розміщенням центральних сортувальних станцій (проведення митних формальностей стосовно міжнародних експрес-відправлень). Узагальнено місця міжнародного поштового обміну та центральні сортувальні станції в регіональному розрізі. Проаналізовано структуру поштового обміну. Встановлено, що упродовж 2014–2016 рр. зростає кількість оформлених митницями ДФС міжнародних поштових та експрес-відправлень вартістю до 150 євро без сплати до державного бюджету митних платежів. Наукова новизна. Дістало подальшого розвитку дослідження особливостей і наслідків переміщення (пересилання) товарів через митний кордон України у міжнародних поштових та експрес-відправленнях. Обґрунтовано потребу у розробці дієвого механізму аналізу ризиків, що актуалізуються під час здійснення міжнародної електронної торгівлі. Практична значущість. Окремі положення наукового дослідження можуть бути використані в навчальному процесі та щодо написання наукових робіт.