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October 1996 Do multinationals cooperate in research and development with local firms in developing countries? This paper explores the theoretical underpinnings and provides new empirical evidence of R & D cooperation between firms with asymmetric endowments of knowledge. Barba Navaretti and Carraro analyze the determinants of interfirm agreements between industrial and developing countries for research and development (R & D) - that is, between firms with asymmetric endowments of knowledge. They develop a model in which a multinational has two options: (1) setting up a subsidiary and competing with a local firm in a duopoly, or (2) implementing an agreement and sharing monopoly profits. The two firms, if they choose the agreement, may also cooperate in R & D. The model shows that: * The choice of cooperating in R & D is influenced by the intertemporal preferences of the developing country firm, the relative efficiency in R & D of the two firms, and the extent of knowledge spillovers. * The choice of cooperating in R & D increases both the profitability and stability of the agreement, stability because it affects the long-term trust between the partners. The empirical analysis is based on a data set of international arm's length agreements, part of which involve joint R & D. Testing the two-choice model supports some of the key theoretical results and assumptions. R & D agreements are particularly likely to emerge when firms are operating in knowledge-intensive industries (where nontangible assets, like knowledge, are large relative to tangible assets), when the partners have a nonhierarchical contractual relationship (they all contribute to the R & D effort), and when technological asymmetries between home and host countries (as proxies of knowledge endowments of the contracting firms) exist but are not too great. This paper - a product of the International Trade Division, International Economics Department - is part of a larger effort in the department to examine the impact of foreign direct investments on developing countries.

International business enterprises. --- Joint ventures.

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This edition takes into account the very latest advances in electronic banking and treasury security. The electronic transmission of funds from companies to banks means that companies are responsible for high levels of risk previously covered by the bank's own security systems. This book is the definitive source of advice for all finance professionals.Electronic banking and treasury security covers everything from the systems themselves to the new documentation and includes contributions from leading figures in the banking, treasury and computing communities. This book is invaluable to

Electronic funds transfers --- International business enterprises --- Treasury management. --- Security measures. --- Finance --- Management. --- Business enterprises, International --- Corporations, International --- Global corporations --- International corporations --- MNEs (International business enterprises) --- Multinational corporations --- Multinational enterprises --- Transnational corporations --- Business enterprises --- Corporations --- Joint ventures

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Joint ventures --- Strategic alliances (Business) --- Organizational change --- Organization --- Sociétés en participation --- Alliances stratégiques (Affaires) --- Changement organisationnel --- Organisation --- Congresses --- Congresses --- Congresses --- Congresses --- Congrès --- Congrès --- Congrès --- Congrès

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This volume represents the first substantive study of emerging multinationals (MNEs) from Asian economies, drawing on the unique experiences of South Korea and Taiwan. Combining an econometric investigation with detailed case studies of leading Korean and Taiwanese electronics companies, it aims to demystify the nature and theoretical implications of these dynamic economic regions.The author argues that many of these `new multinationals do not possess the characteristics typically ascribed to MNEs, such as technological leadership, strong marketing positions or advanced managerial capabil

International business enterprises --- Investments, South Korean --- Investments, Taiwan --- Electronic industries --- South Korean investments --- Business enterprises, International --- Corporations, International --- Global corporations --- International corporations --- MNEs (International business enterprises) --- Multinational corporations --- Multinational enterprises --- Transnational corporations --- Electronics industry --- Taiwan investments --- Business enterprises --- Corporations --- Joint ventures --- Electric industries

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International business enterprises --- Joint ventures --- Intercultural communication. --- Entreprises multinationales --- Sociétés en participation --- Communication interculturelle --- Management. --- Gestion --- America --- Pacific Area --- America --- Asia --- Amérique --- Pacifique, Région du --- Amérique --- Asie --- Foreign economic relations --- Foreign economic relations --- Foreign economic relations --- Foreign economic relations --- Relations économiques extérieures --- Relations économiques extérieures --- Relations économiques extérieures --- Relations économiques extérieures