Involvement Of Foreign Investors Research Articles

FOREIGN ECONOMIC ACTIVITIES OF UKRAINE IN THE SPHERE OF ARMS AND MILITARY EQUIPMENT

In the conditions of a full-scale war, increasing the efficiency of foreign economic activity, the effectiveness of the institutional infrastructure and the implementation of permanent state control over production, export/import operations in the field of weapons and military equipment has become extremely relevant. The purpose of the research is to generalize the regulatory framework, identify the features of the institutional infrastructure and critically analyze the practice of foreign economic activity in the field of armaments and military equipment, justify proposals for its improvement. The methodology of the research consisted of systematic, comparative and economic analysis. It was determined that the effectiveness of Ukraine's foreign economic activity in the field of armaments and military equipment is affected by such factors as the complexity and tension of the geopolitical situation, military aggression, imperfect regulation, lack of financial resources for the purchase of weapons in foreign countries in the conditions of restrictions on the international market and complex domestic economic situation, lack of technological capabilities for the production of complex systems and modernization of existing military equipment to quickly cover own defense needs and further export, and other factors.
 The analysis of regulatory and legal regulation and institutional infrastructure revealed the beginning of their significant transformation in terms of increasing transparency, accountability and economic efficiency of the foreign economic activity of armaments and military equipment. The assessment of the export potential of Ukraine in the field of armaments and military equipment revealed the ineffectiveness of the functioning of special exporters of the State Concern “Ukroboronprom” in connection with the use of “gray” schemes and the expediency of expanding the exporters of military equipment at the expense of attracting private enterprises. The post-war implementation of the Defense and Security Strengthening Program of Ukraine with the involvement of foreign investors should not only revive the export of domestic armaments and military equipment, but also “cleanse” the defense sphere of unscrupulous and inefficient participants. The dynamics of the obligations of the countries of the world and Ukraine's acquisition of weapons and military equipment are quite powerful, but they are not without certain problems regarding the unpreparedness of technical and technological capacities, the imperfection of the military-industrial complex of Europe in logistics and the production of significant volumes of weapons in a short period of time, bureaucratic obstacles and the impossibility rapid coordination and compliance with the requirements of legislation at the interstate level regarding pricing, taxation, etc. Directions were identified and proposals for improving the mechanism of foreign economic activity in the field of armaments and military equipment were formulated.

Тенденции и перспективы привлечения иностранных инвестиций в арктические мегапроекты в условиях геополитической напряжённости

The article analyzes the participation of foreign investors in the implementation of investment projects in the Arctic zone of the Russian Federation. The features of organizing foreign investments at the regional level are considered. The dynamics of indicators of attracting foreign investment in the Russian Arctic in 20162021 is analyzed. It is noted that in the last few years, the attraction of loans from foreign banks has decreased to a minimum, and the entire volume of investment was carried out at the expense of direct investments by foreign investors in large megaprojects of the Russian Arctic. The situation with the involvement of foreign investors in Arctic projects in the context of geopolitical tensions in 2022 is as-sessed. It is concluded that Western companies are currently withdrawing their assets from joint Arctic projects, while the potential for investment cooperation with Asian, Latin American and Turkish partners in the Arctic zone of the Russian Federation is increasing. It has been established that the withdrawal of Western investors from joint Arctic projects carries not only financial risks associated with the search for new sources of investment, but also technological risks that necessitate the development of alternative options for obtaining the necessary equipment. As ways to overcome the difficulties associated with the withdrawal of Western investors from Russian Arctic projects, it is proposed to intensify direct state financing of the implementation of infrastructure facilities based on the program method, as well as to direct efforts to create interstate mechanisms for financing large Arctic projects with friendly countries interested in the development of Arctic policy within the framework of existing BRICS and SCO associations.

Econometric analysis of the COVID-19 pandemic impact of the on foreign investors participation in stock trading in the Republic of Serbia

The purpose of this research is to investigate how the Covid-19 epidemic has affected foreign investors' involvement in stock trading in the Republic of Serbia. Through the use of panel regression analysis, the empirical results obtained for the period of January 2021 to March 2022 demonstrate a negative impact of the pandemic on the involvement of foreign investors in stock trading for Covid-19 monthly cases in Serbia and globally, and a positive impact for Covid-19 monthly cases in Europe. The observed results have the potential to enhance comprehension of foreign investors' responses to other potential crises or pandemics, in addition to the Covid-19 pandemic.

Responsibility of a Host State in Transnational Investment Disputes

The article seeks to define the legal nature of the responsibility of a host state in transnational investment disputes. It considers numerous rules (treaties, national law, customs, soft law, etc.) and their application within a domestic legal system to ensure the proper implementation of civil and other legal rights and obligations of host states and foreign investors. It is argued that the involvement of foreign investors and host states in international commercial arbitration, including the ICSID, and the application of international law (along with national law) as a legal ground for the payment of compensation, do not change the nature of the existing legal relationship between the parties of the investment dispute. The responsibility of the host state to the foreign investor expressed in the state’s obligation to pay damages (compensation) remains in the private, rather than international public law sphere. In conditions of lack of proper rules of investment law states should not stand aside from the present process of making such rules by non-state actors. This situation detracts from the treaty as a major source of international law, sometimes does not correspond to the interests of host states and moreover may threaten their sovereignty.

The mediation role of companies’ dynamic capabilities for business performance excellence: insights from foreign direct investments. The case of transitional partnership

This study uses a combination of multinational enterprises and dynamic capabilities perspectives to illustrate how the involvement of foreign investors is able to contribute to a company’s corporate performance. Using Russian companies as an empirical sample and applying PLS-SEM, we test hypotheses regarding the impact of dynamic capabilities in terms of absorptive, adaptive, and communicative capabilities, on the relationship between foreign ownership and performance. Findings indicate that dynamic capabilities fully mediate the process of foreign direct investments transformation into firm’s results. Our findings contribute to the understanding of the mechanism by which dynamic capabilities enhance the positive effects of foreign direct investments on business performance, and advance the theoretical understanding of how a dynamic capabilities concept could be incorporated into multinational enterprises theory in the framework of relationships between companies from economies with different knowledge endowment.

Foreign Ownership and Firm Performance: Evidence from Malaysia

It is a known fact that foreign multinational firms hold significant ownership in firms listed on Bursa Malaysia. These foreign owners do not only provide capital, but also managerial expertise and exceptional monitoring mechanism on managers. Therefore, it can be expected that foreign ownership improves firm performance and efficiency. However, the extent to which their participation in ownership could improve firm performance particularly in emerging countries such as Malaysia has to be empirically tested. This study investigates the relationship between foreign ownership and firm performance of public listed firms in Malaysia. Three years panel data of 730 Malaysian public listed firms were examined. The results show that foreign ownership has positive and significant relationship with ROA and Tobin’s Q. Therefore, the involvement of foreign investors in monitoring and controlling activities reduces agency conflict in the emerging economy. This is the first study that utilizes the extended agency theory to explain foreign ownership and performance in a developing country.

Intra-EU Capital Movements: Ten Years Of Poland’s Experiences As An EU Member In The Global Context

The aim of this paper is to analyse and evaluate the consequences of the establishment of free movement of capital between Poland and the other EU Member States, from the perspective of ten years of Poland’s EU membership. Special attention is paid to the role of intra-EU foreign direct investment (FDI) flows into the Polish economy. The widening of the European Union (EU) in 2004 spurred massive and serious legal and economic adjustment processes in the new EU Member States. The free movement of capital is one part of the socalled ‘four freedoms’ within the single European market, and needed to be established in the relations between the EU-15 and new EU Member States. The new EU Member States were granted a relatively short period of time to make those adjustments. However, the establishment of the free movement of capital between Poland and the rest of the EU did not cause disturbances in its economy. In fact it stabilized some spheres of its economic and social life. The intra-EU FDI inflows may be seen as having facilitated the restructuring processes in the Polish economy. The role of foreign investors in employment and foreign trade is decisive for the stabilization of Poland’s economic situation. The involvement of foreign investors in innovation processes, although growing, has not radically changed Poland’s position in this field. According to the EU innovativeness rankings, Poland belongs to the rank of modest innovators.

Ownership, Governance, and Bank Performance: Korean Experience

The paper examines the effect of ownership and governance on firm performance. Tracing the post financial crisis experience, 1998–2002, of the Korean commercial bank industry, the paper investigates whether the involvement of foreign investors in the ownership structure had any significant effect on the banks’ performance i.e., return and risk measures. Further, it examines the effects of the presence of outside directors, especially directors from foreign countries, in the corporate board structure impacts banks performance. Evidence indicates that the extent of the foreign ownership level, not the mere existence of foreign ownership, has a significant positive association with the bank return and a significant negative association with the bank risk. The number of outside board of directors does not have any significant affect on performance however the presence of a foreign director on that board is significantly associated with bank return and risk. These findings are relatively robust under the different specifications of performance measures.