Sailing through the storm – performance of Russian manufacturing subsidiaries of multinational corporations in the first year of the COVID-19 pandemic

The aim of this study is to depict the performance of Russian manufacturing subsidiaries of multinational corporations during the first year of the COVID-19 pandemic. Using a unique handcrafted database of financial reports from 259 subsidiaries for 2019 and 2020, we retraced three indicators of business robustness: the dynamics of revenues, positive profitability, and the level of financial solvency. Most of the studied subsidiaries (85%) were able to withstand the crisis and maintain satisfactory financial solvency. Revenues decreased in 2020 to 40% of the studied subsidiaries, and the share of loss-making subsidiaries reached 31%. However, more than 40% of the studied subsidiaries achieved both an increase in revenues and positive profitability of sales in 2020. In this respect we may assess the level of ‘ownership advantage' of multinational corporations regarding assisting their subsidiaries to achieve different elements of business robustness during the pandemic.

Guest editorial: Dynamic capabilities and international business research: managerial and financial perspectives

[...]the need for research insights to develop and enhance various DCs to overcome these negative consequences is of great importance. [...]this special issue sought contributions that helped in a better understanding of the DCs concept in the global business landscape. [...]the contribution by Abdelzaher and Ramadan "Dynamic capabilities and FDI in conflict zones: the role of diversification and stock management capabilities” reveals that companies with superior international geographical diversification capabilities and those with superior local stock management capability are more probable to launch subsidiaries in high ongoing conflict zones.

ГЛОБАЛЬНІ ТРЕНДИ РОЗВИТКУ ТРАНСПОРТНО-ЛОГІСТИЧНИХ ПОСЛУГ

The article considers global trends of development by transport and logistics services. The influence of globalization and internationalization on the development of logistics, transport and logistics services and the relevant market is revealed. The direct connection between globalization and the growth of trade flows is determined, which is reflected in the changes in global trends in the development of transport and logistics services. The modern logistics market is developing rapidly, which is facilitated by the rapid development of world trade and progress in increasing the volume of multinational corporations and the dynamic development of the financial and economic sector, which greatly simplifies trade. Since 2011, world exports have exceeded pre-crisis levels, and since then the value of world exports of goods and services has only grown. The world's largest exporting countries are China, United States, Germany, Japan and other countries, in fact, these countries hold the lead in imports. World trade of goods in 2020 decreased by 5.3%. The reason for this reduction was the introduction of lockdowns and restrictions on the spread of the COVID-19 pandemic. The article traces the dynamics of changes in Ukraine 's foreign trade during 2000-2020. It is concluded that the dynamics of foreign trade has changed over the past 5 years. Ukraine 's largest market for foreign trade is the EU. The largest share is occupied by such countries as Poland, the Netherlands, Italy, the smallest share in the structure of foreign trade is Malta, Luxembourg, Cyprus, Croatia. It is established that the method of transportation of products has changed. In recent years, the requirement to preserve the integrity of cargo has become widespread. And here the important way of transportations at constantly growing needs became transportation in containers. Approximately 70% of all transportation is carried out in containers that ensure modularity, integrity, warehousing and storage of goods. It was also found that the issue of quality prevails over the "price " indicator. More and more customers prefer high-quality transport and logistics services. The study made it possible to establish global trends in changes in the requirements and directions of development of transport and logistics services.

Goodbye China: What Do Fewer Foreigners Mean for Multinationals and the Chinese Economy?

The number of foreigners living in China is very low in international comparison and has further declined recently. While the strict COVID-19-related travel restrictions played a major role in this decline, there are indications that the decline started in part before the pandemic and may well continue once the pandemic-related restrictions are lifted. Against this background, this article discusses the economic challenges that the reduction in the number of foreigners is causing for Western multinationals operating in China and to the Chinese economy more generally. The consequences could spill over to the world economy and reinforce economic and technological decoupling tendencies between China and the West.

THE ARM'S LENGTH PRINCIPLE: A PANACEA OR PROBLEM TO REGULATING TRANSFER PRICING TRANSACTIONS BY MNES IN DEVELOPING COUNTRIES

Transfer pricing manipulation by multinational enterprises is a big problem in developing countries, considering the increased levels of tax avoidance and evasion in these countries. The revenue lost through evasion and avoidance schemes as well as through aggressive tax planning robs developing countries of the much-needed domestic revenues to fund public expenditure. The repercussions of revenue inadequacies are evident in developing countries' governments to adequately invest in education, tax administration, health and security, infrastructural development, and economic development. Most developing countries having enacted transfer pricing regulation, with the arm's length principle are at the core of these regulations. This principle has been criticized in literature for its inefficiency and ineffectiveness in regulating transfer pricing in evolving economic times, while some researchers continue to maintain its relevance. In view of the conflicting views on the cogency of the arm's length principle in developing countries, this paper sought to unpack this debate through an evaluative review to show the areas of disagreement and agreement among scholars. The review was motivated by the continued concern and discussions of tax evasion and avoidance by multinational enterprises through aggressive transfer pricing in developing countries. Through a critical literature review, this article assesses the applicability and relevance of the principle in developing countries. Findings reveal controversies in the availability of comparable data, continued abuse of transfer pricing as well as the difficulty in applying the principle in digital transactions and intangibles.

Direct Digital Services Taxes in Africa and the Canons of Taxation

The unprecedented expansion of the digital economy has increased the intricacy of mobilising tax revenues from both domestic and international transactions. Tax evasion and avoidance are perpetuated by the invisible nature of digital transactions. To minimise the untapped revenues, countries all over the world are mapping policy strategies on how to collect revenue from this sector. African countries are not an exception. They have constructed digital tax policies to levy both direct and indirect taxes on digital transactions. This paper focuses on direct digital service taxes (DSTs). Direct digital service taxes have been an issue of debate among governments, policy makers, academics, tax bodies, and development organisations. Disagreements coalesce around their structure, their adherence to the canons of taxation, opportunities, and challenges as well as consequences of implementing them. Through a literature review, this paper assesses the legislative structure and administration of digital service taxes in relation to the canons of taxation. The findings of the review were conflicting. While certain aspects, motives, and possible outcomes of the taxes upheld the principles of taxation, some of these were conflicting with the principles. This could possibly be linked to variations in the economic, political, and social contexts in African countries and between developed and developing countries. The study recommends that while digital service taxes are an irrefutable necessity to tap tax revenues from the digital economy, African countries should ensure that equity, neutrality, economy, and efficiency among other principles are considered and balanced with the fundamental roles of tax policy.

RECONCEPTUALISING THE FOCUS OF CORPORATE SOCIAL RESPONSIBILITY INITIATIVES TO ADDRESS THE DIGITAL DIVIDE IN SOUTH AFRICA DURING THE COVID-19 PANDEMIC

One of the objectives of the Organisation for Economic Co-operation and Development's (OECD) Principles of Corporate Governance is to create an inclusive society by nurturing a commercial environment rooted in trust, transparency and accountability. In creating a socially inclusive environment, the acceleration of the fourth industrial revolution (4IR) and its applicability in South African companies must be borne in mind. This acceleration has precipitated a shift in the manner in which South African businesses operate in several ways. For example, various South African companies have embraced several digital technologies such as artificial intelligence and machine learning. The use of these technologies has highlighted the inequality that has plagued South African companies. Additionally, the Coronavirus disease (COVID-19) has widened the digital divide in South African companies. This article highlights the importance of South African companies incorporating information and communications technology (ICT) infrastructure as a key corporate social responsibility (CSR) initiative. The article further argues that CSR initiatives targeting ICT infrastructure could benefit the South African economy and society during the COVID-19 pandemic. In this regard, the authors will demonstrate how the stakeholder approach is vital for corporate growth in South Africa. The authors also argue that concerted efforts by companies to build more ICT infrastructure could lead to a more inclusive society which could promote an efficient economy that attracts investors and enhances domestic and international trade.

Motives and Barriers to the Location of MNEs and the Role of the Informal Economy: The Case of Greece

Considering the significant decrease of investment and GDP in Greece, and the goal of achieving a V-shaped post-COVID-19 recovery, inward FDI could be regarded as a source of productive private investment. This study aims to indicate differences in the factors determining inward FDI in Greece before and after the great crisis and the role of the informal economy on Greece s inward FDI. This study explores the perceptions of multinational enterprises upper management regarding motives of and barriers to locating their activities in Greece, the role of the informal economy and how these perceptions changed before and after the great economic crisis of late 2000s. The results indicate that the relation between inward FDI and the informal economy depends on types of entry and that tax evasion opportunities can impact positively on the motives of foreign investors.

FINALLY, WE COULD HAVE SLOWER MORNINGS AND PROPER BREAKFASTS!: MAPPING PARENTING EXPERIENCE DURING PANDEMIC-ENFORCED LOCKDOWN IN POLAND

The aim of this study was to explore and indicate key moments in the experience of the Polish mothers who are caregivers and worked professionally during a national COVID-related lockdown between March and May 2020. This is a mixed-methods study. The main data was collected by an online survey (n=153) run between 14 and 30 May 2020 asking parents about the most challenging and the most positive moments they experienced during a homestay with their children. The responses were coded thematically. Additionally, five in-depth interviews with HR Business Partners in multinational companies have been conducted. As a result, the list of "positive" and "challenging" moments has been established identifying challenging areas such as: organizing daily routines, especially meals for all family members, and selfperception of being neither a "good enough" parent nor a productive employee. The positive discoveries about this unusual reality included seeing the national lockdown as an opportunity for a "slower pace of living", strengthening family bonds, and experiencing the children's independence in daily routines. In conclusion, the findings emphasise the importance of enabling flexibility to employees in giving the flexibility to decide on and organise his work schedule and priorities, expectations setting, and defining the desired outcome of work with a supervisor including clear communication about the expected level of availability and visibility in front of the computer.Alternate :Celem tego badania jest zidentyfikowanie kluczowych momentów w doświadczeniach matek, które były aktywne zawodowo, a jednocześnie opiekowały się dziećmi podczas wprowadzenia ścisłej izolacji społecznej związanej z ogłoszeniem stanu pandemicznego w Polsce między marcem a majem 2020 roku. Wnioski przedstawione w artykule dotyczą badania mieszanego. Większość danych uzyskano w ankiecie zrealizowanej w formule online pomiędzy 14 a 30 maja 2020 roku, w której zebrane zostały 153 odpowiedzi dotyczące najbardziej pozytywnych i najtrudniejszych momentów w doświadczeniu matek, które jednocześnie pracowały i opiekowały się dziećmi. Treści odpowiedzi na pytania otwarte zostały poddane analizie tematycznej. Dane w drugiej części badania uzyskane zostały w pięciu wywiadach pogłębionych z HR business partnerami pracującymi w firmach globalnych. Te wnioski miały charakter uzupełniający i ilustrujący doświadczenia zidentyfikowane w ilościowej części badania. Wnioski z badań zostały przedstawione w formie listy pozytywnych i negatywnych momentów w doświadczeniach tego okresu. Wśród „trudności" znalazły się m.in. wypełnianie codziennych obowiązków, w szczególności przygotowanie posiłków dla rodziny, a także postrzeganie siebie jako „niewystarczającej matki i niewystarczającego pracownika". Z kolei doświadczenia pozytywne z tego okresu odnoszą się do wolniejszego tempa życia i docenienia spędzania czasu razem oraz możliwości obserwowania rozwoju i samodzielności dzieci w tej wyjątkowej sytuacji przymusowego pozostania w domu. Wnioski z badań potwierdzają wagę umożliwiania pracującym matkom decydowania o swoim sposobie pracy, np. ustalania priorytetów, organizowania dnia pracy, a także rolę zapewnienia elastyczności czasowej w wykonywaniu zadań. Druga konkluzja dotyczy konieczności podkreślania jeszcze bardziej niż w czasach przedpandemicznych oczekiwań przełożonego wobec pracy, co odnosi się nie tylko do wymaganych rezultatów, ale także opisania reguł działania w nowych okolicznościach czy określenia poziomu widoczności danej osoby podczas spotkań online.

Challenges negating virtual construction project team performance in the Middle East

Purpose>Over the last couple of decades, many organisations are increasingly adopting virtual team concepts, and construction companies in the Middle East are no exception. Members of a virtual team are geographically scattered and represent a diverse range of cultures. Thus, challenging issues emerge more frequently than in a traditional team. There are challenges associated with space and time as well as high client's demand. Therefore, this study aims to identify and probe the causes of the challenges in virtual project teams in the construction industry of the Middle East.Design/methodology/approach>A list of challenges was derived through a comprehensive review of relevant literature. Questionnaire survey was conducted with professionals who are involved in construction virtual project teams. Further, the factor analysis technique was used to analyse the survey responses.Findings>The results show that the challenges in virtual team arrangement in the Middle East construction industry can be grouped into seven categories, namely, organisational culture, conflict within the team, characteristics of the team members, trust within the team members diversity of the team, communication and training, and cohesion in the team. Understanding of these factors will drive the needed platform to support effective virtual project teams in the Middle East.Originality/value>This study raises the prospect that organisations may establish an environment for team members to achieve higher levels of virtual cooperation by concentrating on these potentially crucial factors. This, in turn, will encourage further innovation and performance within construction organisations.

Guest editorial: International business in times of global disruption

[...]of global pandemic, the governments were pushed to adapt their trade policies, which changed the landscape of business and put a lot of pressure on and disrupted global supply chains (GSC) and global value chain (GVC) (Sharma et al., 2020). [...]organizations’ responses to the global pandemic need to be able to deal with uncertain and continuously changing rules, regulations and socio-economic environment (Ahlstrom et al., 2020). [...]the interplay between formal and informal institutions is crucial to understand. The relevance of disruption to change in cross-border operations has been studied, e.g. from a risk management perspective (Revilla and Sáenz, 2014), considering the organization of global supply chains (Revilla and Sáenz, 2017).

How the global seed company DLF was affected during three months of lockdown in 2020

This article gives some background information about global seeds company DLF, its links with the International Seed Testing Association (ISTA), and how DLF was affected by the COVID-19 pandemic in the six ISTA accredited laboratories located in different regions of the world.

The evolution of digital MNEs: an empirical note

UNCTAD first published a list of the top 100 digital multinationals in the World Investment Report 2017. This research note builds on the analysis and conceptual framework on digitalization and foreign direct investment set out in that report. It provides an updated list, allowing for an analysis of trends over the five-year period including the COVID-19 pandemic and adds new features to the data set that will be exploited in forthcoming UNCTAD work. The note describes the methodology to create the new and extended data set and points at possible avenues for further work. The purpose of the research note is to provide academic scholars with the basic elements needed to pursue further research in this field.

Entrepreneurship skills needs and policies: Contribution to decent work

This chapter explores the relationship between entrepreneurship skills and decent work (DW), and how policy can help achieve this. We review the entrepreneurship skills literature in the context of DW, highlighting the key entrepreneurship skills needed in small and medium-sized enterprises (SMEs). Thereafter, we extract lessons from selected policy initiatives in countries with broad similarities (Australia, Canada, United States and England), through the lens of DW. Our review draws on peer-reviewed journals and key United Nations and global entrepreneurship platform publications. Entrepreneurship skills deficiencies have a detrimental impact on the success and sustainability of SMEs. Yet, SME's survival and growth is currently crucial, whereby organizations need to transform in response to changing environmental, political, technological and consumer needs. This is intensified by the challenges of Covid-19, severely affecting DW and productivity. To develop and retain even a semblance of 'decent work', entrepreneurs need to develop appropriate skills and there is a need for suitable policy addressing this. In this chapter, we present lessons learnt based on our review and provide recommendations for entrepreneurship skills development policies aligning with DW. (PsycInfo Database Record (c) 2022 APA, all rights reserved)

The Importance of Community Perspectives on Hotel Community-Related CSR: A Position Paper

The purpose of this position paper is to present an opinion on the importance of understanding host community perspectives in any community-based corporate social responsibility initiative. A host community is essentially the consumer of any community-based CSR, yet they each have unique cultures, features, needs, and expectations, which may or may not fit a business’s CSR initiative, unless the community perspectives are accounted for prior to the implementation of the CSR project. Focusing on the hotel sector context, the paper develops its position by reviewing supporting literature and highlighting the outcomes of a qualitative case study that involved face-to face semistructured interviews with 15 local opinion leaders who represented several local communities. The paper concludes with a firmer opinion on its position, and it offers some of the implications of its findings.

MULTINATIONAL COMPANIES FOCUSING ON THE SEGMENT OF HEALTHY FOOD

Multinational companies have greatly contributed and are contributing to the development of people's awareness of a healthy and active lifestyle by operating in the segment of nutrition and developing technological processes thanks to which the market is increasingly abundant with nutritionally richer food solutions. The paper consists of a theoretical and empirical part. The empirical part is based on the survey questionnaire whose aim is to determine the extent to which respondents are familiar with the healthy food trends. The results show that the majority of respondents follow the global trend related to health, convenience and satisfaction. Over 90% of respondents consider healthy food important. This is a big challenge for multinational companies to focus on the segment of healthy food production.

POLITICAL ECONOMY OF COVID-19 AMID FOOD INSECURITY

Coronavirus is here to contend with as a new normal at the global level. The solution to the pandemic is what scientists, politicians, pundits and non-governmental organisations (NGOs) are battling with little outcome. Many kinds of literature abound since the outbreak of the epidemic that those who are the main target of this are the ones with comorbidity ailments. The impacts of this contagious disease call for academic interrogation since what brings about this, majorly, is the lack of organic food in the age of genetically modified (GM) food imposed on us. The dictum, healthy profit and unhealthy people are here to stay as long as biotechnologists are after the profit of multinational corporations (MNCs) and to some extent, farmers '. It has been proved that organic food is an agent of anti-hidden hunger and by implication, a source of medicine as against taken medicine as food. This paper intends to adopt an agroecological thesis in the promotion of food security through food sovereignty that is home-made without reliance on importedfood that are sources of compromising immunity, which is a target of COVID19 as documented by some students of development studies, and food and nutrition security (FNS). Relying on secondary data and content analysis approach, a conclusion will be drawn that the COVID-19 vaccine is not only a ruse, but another means to subject developing areas to abject poverty through the importation of one-size-fits-all drugs for the pandemic. A need to promote healthy people as againstfocussing on healthy profit that benefits only MNCs executives and their shareholders against stakeholders in the food and pharmaceutical industries.

DIGITAL MARKETING EMPLOYABILITY SKILLS IN JOB ADVERTISEMENTS - MUST-HAVE SOFT SKILLS FOR ENTRY-LEVEL WORKERS: A CONTENT ANALYSIS

The aim of the study is to explore the employers' demands for personal skills in graduate and junior positions in the field of digital marketing. The research summarizes the review of academic literature on transferable soft skills, focusing on the digital marketing sector. Job requirements in digital marketing related to graduate and junior employability skills are studied for the following occupations: junior digital marketing manager, social media manager and digital marketing manager assistant. The article presents the findings of a content analysis of 5548 digital marketing job advertisements downloaded in February 2021, in a period of one month, from the top five job finding websites in Hungary. The authors' classification framework includes a core set of relevant skills and competences that can be used to conduct the assessment. Thirty-one most frequently mentioned soft and hard skill categories are grouped into five main categories and analyzed with quantitative methods. Within the scope of the study, an occurrence frequency analysis is conducted in job advertisement texts and the data is analyzed with descriptive statistical methods. Moreover, the findings cover the importance of foreign language knowledge and software knowledge as they appear in job ads. The differences between foreign and multinational companies' soft skill requirements are still under examination. The data show that, while hard skills in job advertisements are still dominant, soft skills are also emphasized in the field of digital marketing. In analyzing the results, the authors look at what employers focus on when searching for graduate students and employees for junior positions. The academic and practical implications of the study are useful for further research, as it presents a collection of essential digital marketing employability skills.

The Romanian Health Clusters Landscape and its Role in the Projects Development and Implementation

Clusters are ecosystems where an organization or person may find resources to develop research and innovation activities. The ecosystem composition is based, beside the geographical concentration, also on the diversity of actors, from providers of specialized products or services to governmental and non-governmental entities such as universities, research institutes, specialized agencies, think tanks, respectively training service providers. The current study was conducted to assess the landscape of Romanian clusters dedicated to the development of the health sector and provides a case study regarding the ROHEALTH - Health and Bioeconomy Cluster by analyzing the benefits of being a part of cluster ecosystem from the perspective of research, development and innovation (RDI) projects development.

Trade-Related Aspects of Intellectual Property Rights Waiver at the World Trade Organization: A BIT of a Challenge

To augment the global production and distribution of Covid-19 medical products such as vaccines, drugs, and other therapeutics, countries are negotiating temporarily waiving certain provisions of the Trade-Related Aspects of Intellectual Property Rights (TRIPS) agreement at the World Trade Organization (WTO). Depending on the conditions that will govern the waiver, countries will amend their domestic intellectual property (IP) laws to effectively implement the waiver. While the waiver will provide immunity to IP-related regulatory measures from legal claims at the WTO, multinational pharmaceutical companies can use the investor-State dispute settlement (ISDS) mechanism under bilateral investment treaties (BITs) to challenge such IP-related regulatory measures. In case of such a challenge to IP-related regulatory measures, will the host State be able to defend these measures? The article answers this question by dividing the investment treaty practice into those BITs that contain carve-out for IP and those that don't. The former set of treaties provides greater regulatory autonomy to implement the TRIPS waiver. However, given the fragmented and incoherent nature of the ISDS mechanism, the outcome will depend on arbitral discretion.