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Results in Journal Organizations and Markets in Emerging Economies: 170

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Kashif Ahmed, Ralf Bebenroth
Organizations and Markets in Emerging Economies, Volume 10, pp 9-30; doi:10.15388/omee.2019.10.00001

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Oscar Cuauhtémoc Aguilar Rascón, Rafael Posada Velázquez, Universidad Tecnológica De San Juan Del Río
Organizations and Markets in Emerging Economies, Volume 10, pp 78-91; doi:10.15388/omee.2019.10.00004

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Patrick Adriel P. Aure, Rayan P. Dui, Shieradel V. Jimenez, Denver D. Daradar, Alvin Neil A. Gutierrez, Angelique C. Blasa, Joseph Sy-Changco, De La Salle University, University of Macau
Organizations and Markets in Emerging Economies, Volume 10, pp 92-110; doi:10.15388/omee.2019.10.00005

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Vina Christina Nugroho, Kim Sung Suk, Pelita Harapan University
Organizations and Markets in Emerging Economies, Volume 10, pp 147-164; doi:10.15388/omee.2019.10.00008

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Brian Muyambiri, Nicholas M. Odhiambo
Organizations and Markets in Emerging Economies, Volume 9, pp 167-192; doi:10.15388/omee.v9i2.12298

Abstract:
[full article and abstract in English] This article summarises the empirical literature on the impact of financial development on investment. It presents a topical analysis of empirical research that focuses mainly on the interaction between financial development and investment, determinants and measurement of both financial development and investment, and empirical findings on the relationship between the two variables under discussion. The study concludes that most of the research done on the relationship between financial development and investment is highly skewed towards assessing the relationship using mostly bank-based financial development indicators, as compared to the market-based financial development indicators. Given the number of studies assessed, the impact of financial development on investment appears to be inconclusive, at best. Moreover, the study shows that the relationship between these two macroeconomic variables seems to differ from country to country; it is dependent on the proxies used to measure the level of financial development, as well as the methodology employed.
Satyendra Singh, Peter M. Lewa
Organizations and Markets in Emerging Economies, Volume 5, pp 7-15; doi:10.15388/omee.2014.5.1.14238

Abstract:
Recently the concept of online education has received considerable attention worldwide; however, its low success rate in Africa warrants further investigation. The purpose of this study is to examine the impact of political and cultural factors on online education. For the purpose of the study, the political factor constitutes government support, technological infrastructure and trained instructors, whereas the cultural factor focuses on gender bias, culture bias and language barrier of learners. Drawing on the theory of source-position-performance, we argue that source (i.e., online education) should be promoted in rural areas as usages of mobile technologies and cellphones are more than computers, and that online education leads to competitive advantage. Finally, we propose a couple of strategies to build capability.
Žygimantas Mauricas, Valdonė Darškuvienė, Tamara Mariničevaitė
Organizations and Markets in Emerging Economies, Volume 8, pp 225-243; doi:10.15388/omee.2017.8.2.14190

Abstract:
We examine underlying factors that explain an exceptionally low stock market participation rate among Lithuanian households by carrying out a comprehensive survey of mass affluent individuals. The probit regression analysis of the survey results indicates that lack of financial literacy, low risk tolerance and lack of trust in financial institutions are the three key factors explaining the stock market participation puzzle in Lithuania, while high investment fees, high stock market return expectations or underdeveloped local capital markets do not have a significant effect. The paper also examines whether the same factors also have influence on investment fund, bond and real estate market participation rates. Interestingly, lack of financial literacy, low risk tolerance, lack of trust in financial institutions and high stock market return expectations increase household participation rate in real estate market. The latter finding should be of particular interest to macro-prudential policy makers as increasing financial literacy of households and increasing trust in financial intermediaries would likely cause higher stock market participation at the expense of investments in local real estate market thus not only improving household portfolio diversification and liquidity, but also potentially mitigating local real estate boom and bust cycles.
Tamara Todorova
Organizations and Markets in Emerging Economies, Volume 2, pp 34-50; doi:10.15388/omee.2011.2.1.14288

Abstract:
At a given level of technology the gross aggregate production function lies above the net aggregate production function where the difference represents the aggregate transaction costs in the economy. Transitional economies facing serious institutional impediments to creating a smoothly functioning market mechanism are faced with sizable transaction costs. We use a net production function model enhanced by Furubotn and Richter and apply it conceptually to the case of transitional economies. We find that at a particular level of a community isoprofit line much less output will be supplied compared to developed market economies with mature market institutions. The aim of the paper is to trace the falling output and the deep structural problems of East European economies to the effect of transaction costs and institutional building. The more rapidly transaction costs grow, the less the firms would be willing to pay for inputs. Furthermore, we find that certain markets tend to disappear in emerging economies due to the adverse effects of transaction costs. As a safeguard to precontractual opportunism and prevention to ex post transaction costs, ex ante transaction costs would play a more vital role in East European societies.
Jaqueline Pels, Tomás Kidd
Organizations and Markets in Emerging Economies, Volume 3, pp 8-22; doi:10.15388/omee.2012.3.2.14265

Abstract:
This article looks at Emerging Markets and Low Income Sector characteristics with the scope of understanding the generalizability of the market-based approaches developed in High Income Countries. The literature review highlights that existing studies have not presented clear classifications of characterics and that current listings are partial. The article adopts and adapts the market environment theory classification and summarizes the published and documented characteristics of EM and LIS. In the process it highlights that it is necessary to distinguish between primary and secondary characteristics and that many of these characteristics overlap. Finally, it builds on the organizational theory distinction between objective and enacted environment to discuss low income sector's emerging market environments as constraints or challenges.
Ari Kokko, Victoria Kravtsova
Organizations and Markets in Emerging Economies, Volume 3, pp 91-118; doi:10.15388/omee.2012.3.2.14270

Abstract:
This paper contributes to the analysis of the impact of FDI on host countries by taking into account the regional dimension of spillover effects. Focusing on the case of Ukraine, we explore the effects of inward FDI on changes in productivity, technology, and efficiency in local firms. For the country as a whole, the results suggest that the presence of foreign-owned firms had a negative impact on productivity change in local firms during the period 1999-2003. However, there were notable differences between the effects in the western and eastern parts of the country: the overall findings were mainly driven by the development in western Ukraine, whereas inward FDI in eastern Ukraine did not seem to have any impact on local productivity growth and technical change. These results arguably reflect deep economic and institutional differences between the two parts of Ukraine, which have led to differences in the character of incoming FDI and differences in the ability of local firms to benefit from FDI. The conclusion is that the impact of FDI on the host economy may vary even at the sub-national level, depending on the specific local environment.
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