Abstract

Hosting sports events to attract international tourists is a common policy practised by many host governments. Hosting mega-sports events like the Olympics is said to leave a legacy that could impact the attractiveness of a country/city in the long term. However, the opportunity to host these mega-events is limited and expensive. This study considers the economic impact of hosting annual international sporting events, specifically the extent to which Formula 1, ATP Tennis and PGA Golf can attract international tourists. Using monthly data from 1998 to 2018, we show that the effect differs from one sport to another within a country and the same sport across countries. Hosting the Formula 1 is most effective for Canada but has no significant impact in Australia and the United Kingdom. ATP Tennis and PGA Golf have a significant impact on at least two countries. Policy-makers must consider carefully the sport that gives the best bang-for-the-buck.

Keyword

Formula 1 ;  golf ;  international tourists ;  sports tourism ;  tennis

Abstract

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Abstract

Hosting sports events to attract international tourists is a common policy practised by many host governments. Hosting mega-sports events like the Olympics are said to leave a legacy that could impact the attractiveness of a country/city in the long term. However, the opportunity to host these mega-events are limited and expensive. This study considers the economic impact of hosting annual international sporting events, specifically the extent to which Formula-1, ATP Tennis, and PGA Golf can attract international tourists. Using monthly data from 1985 – 2018 and we show that the effect differs from one sport to another within a country, and the same sport across countries. Hosting the Formula-1 is most effective for Canada but has no significant impact in the UK. ATP tennis has a significant impact on all three countries but may not be the star event. Policy-makers must consider carefully the sport that gives the best bang-for-the-buck.

Keyword

F1, Tennis ;  Golf ;  international tourists ;  sports tourism

Abstract

China's outward FDI reached a peak in 2016, making it as important a foreign investor as Germany, France and the United Kingdom. In this paper, we investigate the main motivations behind Chinese investments in developing countries, Central and Eastern Europe (CEE) in particular. Although the size of Chinese investment in CEE is small, the region is strategic for China as it is a gateway into Western Europe under the Belt Road Initiative. As new or future members of the EU, the CEE countries also provide access to the single market. We find that the motivations to invest in developing countries differ according to regions. Based on outward FDI data provided by the Chinese authorities, the number of Chinese FDI greenfield and M&A projects fromFinancial TimesandZephyrrespectively, as well as face-to-face interviews with companies with investments in CEE, we find that for the case of CEE, domestic markets, access to the larger EU market, strategic assets like technology and prior relationship with the CEE are main reasons for investing.

Keyword

Central and Eastern Europe ;  China ;  Outward FDI

Abstract

Purpose Chinese investments abroad are being scrutinized more stringently because host governments fear that Chinese companies would steal domestically grown technology and know-how or be duped into a debt trap. The purpose of this paper is to provide a narrative of Chinese investments in a region that is neither developed nor underdeveloped – Central and Eastern Europe. The authors aim to provide an alternative view of Chinese investments abroad. Design/methodology/approach The authors base their narrative on face-to-face semi-structured interviews with eight Chinese firms that carried out mergers and acquisition activities in the region. Findings The respondents claim that they saved companies and jobs in the aftermath of the global financial crisis. Access to the China market and elsewhere has increased as a result of these investments. Transfer of technology has gone both ways depending on which partner had superior technology. Research limitations/implications It is important that Chinese investors emphasize the positive spillover effects from their investments, such as jobs saved, potential technology transfer and increased exports, when applying for FDI approval from host governments. Host governments, on the other hand, should evaluate each Chinese investment on its individual merits. Originality/value There is little that has been researched on the contributions of FDI from developing countries to host economies. This paper is an early attempt in this direction.

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The One Belt One Road (OBOR) project is perhaps China's most significant international relations initiative in recent times. It is based on openness, harmony, inclusivity, mutual benefit and market operations and aims to connect the economically vibrant East Asia and the developed Europe by land and by sea, and in the process, it brings growth and development to tens of countries along the modern Silk routes. In this paper, we compare the impact of the main initiatives of OBOR, namely enhancements in physical infrastructure and improvements in border administration, on the trade of countries that have signed on to this project, especially countries along the six economic corridors. We find overwhelming evidence that shows improvements in border administration has the greatest impact on exports of corridor countries. Although physical infrastructure is important for trade, the Chinese government should place equal attention to improvements in trade facilitation to ensure trade routes operate seamlessly across the various corridors.

Keyword

border administration ;  infrastructure ;  one belt one road ;  trade

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Ethnic diversity ;  values diversity ;  innovation ;  creativity

Abstract

If it eventuates the Trans-Pacific Partnership agreement (TPP) will include major economic powerhouses like the US and Japan, but China – the elephant in the room – has been excluded. Our evaluation of how China might fare in the TPP finds that the agreement would be a poor fit at the current stage of China’s economic development. Although China would gain both in terms of trade and a reform timetable, some features of this 21st-century agreement – the assistance given to state-owned enterprises, the standards for labour rights, protection of multinationals against the state and competition laws – would be stumbling blocks in the negotiation process. Thus, being left out of the TPP is no big loss for China.

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Abstract

Job application choice is influenced by job/organisational attributes, both traditional ones, such as salary, prospects, location, company type and newer ones, such as corporate social responsibility (CSR). To examine the varying importance of these and the impacts of location and gender for initial job applications, potential job applicants were surveyed who were about to join the jobs market based in China, Hong Kong and Taiwan, often grouped together as the Greater China region. Using conjoint analysis of different job scenarios it is found that the importance of different job characteristics does vary across the region, although with no clear result regarding gender. The theoretical and practical implications of this work is discussed.

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Purpose The purpose of this paper is to identify location factors that Chinese managers look for when making internationalization decisions and how the factors stack up in perceived importance. Over the past ten years, Chinese enterprises have become more multi-national in nature. China’s outward foreign direct investment (FDI) has been growing at a phenomenal rate. In 2012, China became the third largest investor, after the USA and Japan; and the largest investor among developing countries. How can host governments attract more of this Chinese capital? What are some short- to medium-term policies that host governments can initiate to make their respective nations attractive to Chinese companies? Design/methodology/approach The authors consider these questions by using a best-worst choice exercise among 114 senior corporate decision makers of Chinese companies who have or are planning to globalize. We rank 16 most common determinants that influence FDI location choice and evaluate their degree of importance. Findings The authors propose five “low hanging fruits” that policy makers should consider that could ensure their countries come within the radar of Chinese multi-nationals. These include promoting a clean and efficient business environment and strengthening/establishing political and economic relationships with China. Originality/value The originality of this study lies in the methodology of the study that forces respondents to make a trade-off in their decisions, which in a way is closer to reality. The respondents are also actual decision makers in their companies with regards to international investment decisions.

Keyword

China ;  Economic relationship ;  International business strategies ;  Location decisions ;  Outward FDI ;  Political relationship