The foreign economic activity of Russia has undergone major changes lately. Shift from the European partnership towards cooperation with the BRICS and CIS countries leads to the territorial rearrangement of the economic structure. To the maximum extent all these factors impact on development of the export regions. Under the conditions of changing foreign economic priorities determination of future prospects of such regions is an objective of the research work the results of which are reflected in this article.
This paper examines how export and export destination stimulates innovation by Russian manufacturing firms. The discussion is guided by the theoretical models for heterogeneous firms engaged in international trade which predict that, because more productive firms generate higher profit gains, they are able to afford high entry costs, and trade liberalization encourages the use of more progressive technologies and brings higher returns from R&D investments. We will test the theory using a panel of Russian manufacturing firms surveyed in 2004 and 2009, and use export entry and export destinations to identify the causal effects on various direct measures of technologies, skill and management innovations. We find evidence on exporters’ higher R&D financing, better management and technological upgrades. Exporters, most noticeably long-time and continuous exporters, are more active in monitoring their competitors, both domestically and internationally, and more frequently employ highly qualified managers. Exporters are more active in IT implementation. When it comes to export destination, we find that non-CIS exporters are more prone to learning. However, we cannot identify that government or foreign ownership shows any impact on learning-by-exporting effects.
This paper examines some institutional factors of regional export and perspective of extension this view on export problems. Much research on the export has been done worldwide over the recent years. However, traditional approach prevails in them. Therefore, this study aims at revealing, whether business-state relations might be considered as an effective factor for evaluating export dynamics. Finally, using the software package for econometrics modeling, the regression model can be evaluated. Approach’s acknowledgment may positively effect the export dynamics investigation.
Modern Ireland – is EU member state with open, progressive, and dynamic economy. The Irish economy is staging a recovery from the world crisis of 2008 and global turmoil, which have affected most developed countries of the world. The country returned to market financing in 2012, which reflects increased investor confidence in Irish economy. During last years, Ireland performs exceptionally well on main economic and social indicators. Like most other OECD and EU countries, Ireland has experienced rapid growth in the services sector. The country's competitiveness and export potential have also significantly improved in post-crisis. Ireland has a leading position in global ranking which indicates countries have been successful in creating a prosperous society. In the UNDP's 2014 Human Development Index (HDI), which ranks the countries based on their life expectancies, access to knowledge and standard of living, Ireland ranked 11th out of 187 countries.
Purpose - The purpose of this paper is to examine the relationship between export activity and firm performance for a positive impact of foreign direct investments. We also analyse two possible causes of the effect: technology transfer and financial support. The theoretical background is rooted in the resource-based approach taking into account multinational companies’ perspective and the specifics of emerging markets. Design/methodology/approach - We propose testable hypotheses based on a review of the theory. To test the hypotheses, we build a sample of over 500 Russian public manufacturing firms covering the period from 2004 to 2014 and estimate regression models. Given concerns about endogeneity, the instrumental variable approach for panel data, using GMM-estimator, is implemented. Findings - Consistent with the view that foreign direct investments generate spillover effects, our results support the positive impact of foreign ownership on the link between exports and firms’ performance. Our results underline the importance of foreign ownership: shareholders from developed countries can provide benefits to exporting companies through transferring advanced technologies and loosening financial constraints by lowering interest and raising availability of bank loans.
Originality/value - We provide new insights on the relationship between exports and firm performance. Given our focus on Russia, a market with high potential to draw foreign investments, our research sheds some light on how emerging country firms can benefit from having foreign shareholders with paying attention to geographical distribution of such investments. Specifically, through the overcoming of technological barriers and loosening of financial constraints, we show empirically that foreign capital can make up for weak local institutional infrastructure and enhance the company’s’ returns from internationalization.
One of the most important indicators of company's success is the increase of its value. The article investigates traditional methods of company's value assessment and the evidence that the application of these methods is incorrect in the new stage of economy. So it is necessary to create a new method of valuation based on the new main sources of company's success that is its intellectual capital.