International Business

Is Characterization of Treaties a Solution to Treaty Conflicts?

by Ahmad Ali Ghouri

Chinese Journal of International Law 2012; doi: 10.1093/chinesejil/jms034

The Vienna Convention on the Law of Treaties (VCLT) rules on the resolution of treaty conflicts are known as being... more The Vienna Convention on the Law of Treaties (VCLT) rules on the resolution of treaty conflicts are known as being despondently unhelpful. One identified lacuna is that these rules disregard many differences present in different kinds of treaties. This paper characterizes treaties on the basis of their differences and investigates whether this yields legal rules to resolve treaty conflicts. This paper presents three broad characterizations founded on: (A) the subject matter; (B) the number of State Parties; and (C) the intended objects and purposes of treaties. Respecting the intended objects and purposes, this paper presents three sub-characterizations, namely: (i) universal character treaties; (ii) constitutional character treaties; and (iii) treaties with conflict resolution
clauses. The results are variegated, but the discussions expose the mythic role of treaty characterization in the resolution of treaty conflicts.

The Politics of Legitimate Global Governance

by james brassett

Legitimacy is an important question to ask of the theory and practice of global governance. In this introduction, we... more Legitimacy is an important question to ask of the theory and practice of global governance. In this introduction, we make two propositions that are used to push thinking about these issues forward. Firstly, in analytical terms we outline a spectrum between legitimacy and legitimization which is aimed to capture the diverse set of approaches to this subject and to develop an engaged and reformist attitude that refuses the either-or distinction in favour of a methodologically pluralist logic of ‘both and’. Secondly, in political terms, we argue that discussions of legitimate global governance in both policy and academic circles can carry a ‘Trojan horse’ quality whereby the ambiguity of the term might allow a point of intervention for more ambitious
ethical objectives.

Deliberation and Global Governance: Liberal, Cosmopolitan, and Critical Perspectives

by james brassett

Regulatory harmonization and the development of private equity markets

by Douglas Cumming

Cumming, D.J., and S.A. Johan, 2007. “Regulatory Harmonization and the Development of Private Equity Markets” Journal of Banking and Finance, 31, 3218–3250.

This paper introduces a new dataset from 100 Dutch institutional investors’ domestic and international asset private... more This paper introduces a new dataset from 100 Dutch institutional investors’ domestic and international asset private equity allocations. The data indicate that the perceived comparative dearth of regulations of private equity funds impedes institutional investor participation in private equity funds, particularly in relation to the lack of transparency. The data further indicate that the perceived importance of regulatory harmonization of institutional investors has increased Dutch institutional investor allocations to domestic and international private equity funds, particularly via the harmonization from the International Financial Reporting Standards (regulation of reporting standards and transparency), the Financieel Toetsingkader (regulation of portfolio management standards such as of matching assets and liabilities), and Basel II (regulation of risk management and disclosure standards).

Legality and Venture Capital Governance around the World

by Douglas Cumming

Cumming, D.J., D. Schmidt and U. Walz, 2010. “Legality and Venture Capital Governance around the World” Journal of Business Venturing 25, 54-72.

We analyze governance with a new dataset on investments of venture capitalists in 3848 portfolio firms in 39 countries... more We analyze governance with a new dataset on investments of venture capitalists in 3848 portfolio firms in 39 countries from North and South America, Europe and Asia spanning 1971–2003. We provide evidence that cross-country differences in legality, including legal origin and accounting standards, have a significant impact on the governance structure of investments in the VC industry: better laws facilitate faster deal screening and deal origination, a higher probability of syndication and a lower probability of potentially harmful co-investment, and facilitate investor board representation of the investor. We also show that country-specific differences exist apart from legal and economic development.

Private Equity Returns and Disclosure Around the World

by Douglas Cumming

Cumming, D.J., and U. Walz, 2010. “Private Equity Returns and Disclosure around the World” Journal of International Business Studies 41(4), 727-754.
- Reprinted as Cumming, D.J., and U. Walz, 2010. “Private Equity Returns and Disclosure around the World” Journal of Business Valuation, Vol 2., pp.1-33 (lead article)
- Winner of the Canadian Institute of Chartered Business Valuators (CICBV) Best Paper Prize ($5,000)
- PWC Global Competency Centre Research Excellence Award (€3,000)

To obtain more funds from the institutional investors, private equity fund managers may report inflated valuations of... more To obtain more funds from the institutional investors, private equity fund managers may report inflated valuations of private investee companies that are not yet sold. However, such overvaluations may result in a reputational cost when those investments are realized. Using evidence from 39 countries, we show that there are significant systematic biases in managers' reporting of fund performance. We find that these biases depend on the accounting and legal environment in a country, and on proxies for the degree of information asymmetry between institutional investors and private equity fund managers.

Interorganizational Macrocultures in the North American Automotive Manufacturing Industry

by Matthew Jelavic

Jelavic, M., & Ogilvie, K. (2009). Interorganizational macrocultures in the North American automotive manufacturing industry. Canadian Manager, 34(2), 20 – 21.

Competence Management in High-Technology Organizations

by Matthew Jelavic

Jelavic, M. (2011). Competence management in high-technology organizations. Canadian Manager, 36(1), 21 – 22.

The Neurobiology of Experience: Memory-Prediction and Its Role in the Management Decision-Making Process

by Matthew Jelavic

Jelavic, M., & Vincenti, M. (2012). The Neurobiology of Experience: Memory-Prediction and Its Role in the Management Decision-Making Process. Canadian Manager, 36(4), 26 – 27.

The strategic challenge of the evolving global economy

by Raj Aggarwal

Profitability, sales opportunities and governement support - Key business expectations in export effort

by Peter Mellalieu

Cullwick, T. D. C., & Mellalieu, P. J. (1978). Profitability, sales opportunities and governement support - Key business expectations in export effort. Wellington, New Zealand: Department of Business Administration, Victoria University of Wellington.

A major study released from the Department of Business Administration at Victoria University found that the major... more A major study released from the Department of Business Administration at Victoria University found that the major benefits expected to be gained by exporters in 1977-78 were, in order of importance, overall increased profitability; growth in sales opportunities; longer production runs; improved cash flows; risk reduction through market diversification; and exposure to new ideas and practices.

The study of the exportport attitudes and directions of a range of manufacturing firms was undertaken by Professor David Cullwick, Professor of Marketing, and Mr Peter Mellalieu. The project is one of several completed as part of an export marketing research programme that commenced in 1973. Information was obtained from 185 firms covering a wide range of types and sizes, accounting for $316 million in exports ($NZ 1978) employing 60,580 persons.

Based on detailed analysis of respondents’ use of external and government export the study recommended specific practices that could improve the utility of government services to exporters. The improvements recommended include: greater publicity of the activities performed by the Department of Trade and Industry to exporters and potential exporters; clear identification of specialist staff for key problems such as joint ventures and licensing agreements; a greater emphasis on commercially-oriented training and development programmes for existing staff including courses in export marketing, marketing management, and general business administration; greater personal contact between department staff and client companies; short-term personnel exchanges between business and government.

The international business performance of Ceramco Limted with reference to the crockery trade

by Peter Mellalieu

Mellalieu, P. J. (1976, October). The international business performance of Ceramco Limted with reference to the crockery trade (Term paper for International Business, Master of Public Policy). Victoria University of Wellington, Wellington, New Zealand.

The study reports how the New Zealand company Ceramco (formerly Crown Lynn Potteries) became an international business... more The study reports how the New Zealand company Ceramco (formerly Crown Lynn Potteries) became an international business enterprise. The report describes how the specialized ceramics subsidiary grew from the company’s established manufacturing of bricks and roof tiles to become a company exporting from New Zealand. The subsequent evolution of Ceramco to attain global horizons with world-wide manufacturing and marketing operations is discussed. Particular attention is paid to policy changes in New Zealand’s macro-economic environment that facilitated the establishment of the company’s protected crockery manufacturing business, export subsidies, and grants for off-shore manufacture.

Business of Drugs: poverty relief or tenaciously snap our society???

by Suman Chowdhury Mony

Businessman especially the producer, manufacturer, seller of deathly drugs, should realize that it will be too much... more Businessman especially the producer, manufacturer, seller of deathly drugs, should realize that it will be too much harmful for their children and family members who are live in the danger point being drug addicted. Their profitable business can push their family members, friends and relatives in the deathly circle of drugs. In these days, they enjoy their super profitable business of harmful drugs by destroying our several ages people specially youths, but are they think about their families? How they protect their family members, friends and relatives when they are in the mine of harmful drugs, which are easy to get to them?

Creating Enterprise in Extreme Environments: Strategic Leadership from an Entrepreneurship Development Centre at the University of Botswana

by Peter Mellalieu

Mellalieu, P. J. (2006). Creating Enterprise in Extreme Environments: Strategic Leadership from an Entrepreneurship Development Centre at the University of Botswana (p. 67). Auckland, NZ: New Zealand Centre for Innovation & Entrepreneurship, Unitec Institute of Technology. Retrieved from http://web.me.com/petermellalieu/Teacher/Examples/Entries/2007/10/18_Creating_enterprise_in_extreme_environments__Strategic_leadership_from_an_entrepreneurship_development_centre_at_the_University_of_Botswana.html

This report presents recommendations to the University of Botswana’s Faculty of Business for extending substantially... more This report presents recommendations to the University of Botswana’s Faculty of Business for extending substantially its Business Clinic into an Entrepreneurship Development Centre. Recommendations to the University beyond the Faculty of Business are also made.


Botswana has set itself the challenge of becoming an ‘innovative and prosperous nation’. The challenge appears daunting. The country has embarked on a journey to make the quantum jump to a country with world-class, high-growth companies by 2016. In contrast, at the time of independence in 1966 the country was a traditional hunter-gatherer village-based society. Accordingly, the education and development system required for Botswana's 21st century global citizen must extend to include identifying and developing job-makers: world-class entrepreneurs and innovators.


The principal focus of Botswana’s current formal education system seems mainly to educate job-takers for the public sector and larger companies. Furthermore, Botswana's impressive record of growth has not translated into socioeconomic transformation: "Over-dependence on diamonds, high unemployment levels and unacceptably high levels of poverty and inequality - both in terms of assets and income - are persistent problems." (Clover, 2003, p. 4). One approach to overcoming these persistent problems is to create an abundance of “grass roots” support for enterprising behavior throughout the nation.


The job-makers and wealth creators that Botswana requires are termed ‘serial innovators and entrepreneurs’. They are habitual and compulsive in their passion for innovation and creating substantial new enterprise. They are ‘weirdly wired’ people, who some might regard as ‘mad’ or ‘crazy’ in view of the risks they appear to take. However, these habitual innovators participate in leading substantial business and social change in the communities for which they create and provide new products or new service delivery systems. Furthermore, these entrepreneurs provide leadership in creating substantial forms of wealth - financial and/or social - from the new opportunities they identify, exploit, and grow into sustainable organisations.


A series of course topics is outlined for delivery as workshops and/or educational programmes through the proposed Entrepreneurship Development Centre. The course topics are directly linked to develop competencies required to embrace all elements of the entrepreneurial process model, developed by Bolton and Thompson (2001).


Furthermore, it is recommended that at least one of the three following courses are required to be studied by all students at the University of Botswana:

A strengths-based course in personal and professional career development;

Foundations of innovation and entrepreneurship;

New venture start-up project.


The most urgent recommendation is for the Faculty of Business to institutionalize formally a regular, monthly programme of 'real world learning adventures'. The format of these learning adventures was devised specifically for the Botswana context. The events are branded with the suggested name: Enterprise in Action™ (EIA). An EIA event focusses equally on business networking and knowledge exchange. Both business networking and knowledge exchange are crucial elements in aiding the success of entrepreneurs as they overcome the many obstacles that they experience in their pursuit of success. Three examples of ‘real world learning adventures’ were designed and implemented during the author’s four-month residence in the Botswana. The last adventure formed the pilot/prototype version for the Enterprise in Action format.


Many Batswana return to their homeland from study or work in foreign countries. They bring back knowledge, experience, and professional contacts to Botswana. However, a proportion of these returning Batswana are not deployed effectively upon their return home. Accordingly, one important opportunity is for a proportion of the Enterprise in Action programmes to focus on providing a networking opportunity to help the productive re-integration into Botswana business and community life of returning Batswana.


Fundamental to the success of the proposed initiatives is that the University of Botswana implements concurrently processes to identify and develop ‘entrepreneur enablers’. Entrepreneur enablers form a unique selection of teachers, consultants, advisors, and informal investors. Entrepreneur enablers intervene directly to help their ‘client entrepreneurs’ overcome obstacles, and build their entrepreneurial self-efficacy (Bolton and Thompson, 2004, 2006, Lucas and Cooper, 2004).


The full report outlines a  series of five Strategic Focus Areas (SFAs) as a basis for collaborative development of the entire University’s commitment to becoming an enterprising institution. The Strategic Focus Areas are chosen to ensure that the University of Botswana builds a robust, widespread, and significant core-competency in entrepreneurship development for business, technological, and social contexts. The five Strategic Focus Areas recommended for institutionalization are:


SFA 1: Business innovation and entrepreneurship.

SFA 2: Design, technology, and science-based innovation and entrepreneurship

SFA 3: Social sector innovation and entrepreneurship

SFA 4: Mass entrepreneurship

SFA 5: Entrepreneur enabler identification and development


Beyond these initiatives, the University should evolve the Entrepreneurship Development Centre and the other SFAs into a university-wide, world-class applied research and development centre focussing on innovation and enterprise development studies in the southern Africa region: A Centre for Innovation and Enterprise Development Studies.

Foreign Direct Investment in the Arab World: an Analysis of Flows and an Evaluation of Country Specific Business Environment

by Abed El-azez Safi

This is my Master's Thesis of Master in International Management (MIM) at University of Trento, Italy

Safi, A. Zamrian, M. “Foreign Direct Investment in the Arab world: an Analysis of Flows and an Evaluation of Country Specific Business Environment” Published in "University of Trento: Italy." March 2012.

Currently, Foreign Direct Investments (FDIs) are considered to be one of the most attractive tools of international... more Currently, Foreign Direct Investments (FDIs) are considered to be one of the most attractive tools of international business for large investments in foreign countries. International business is transforming the world in a way that has not been possible in previous years. On the other hand, FDI is growing faster than international production within the framework of international trade. This makes it possible for FDI to become a major instrument of spreading wealth. Global FDI flows rose to $1.24 trillion in 2010, but were still 15% below their pre-crisis average. This is in contrast to global industrial output and trade, which were back to pre-crisis levels. The UNCTAD estimates that global FDI will regain its pre-crisis level in 2011, increasing $1.4–1.6 trillion, and approaching its 2007 peak in 2013. This positive scenario holds, barring any unexpected global economic shocks that may arise from a number of risk factors still in play. Concerning the Arab world for the last two decades the FDI has been grown very fast regarding to the new policy. The political instability discourages investors to pay attention to risky spot. Arab world FDI and stocks is concentrated in few countries and sectors, for instance about 80% of the FDI in 2010 is concentrated in six countries: Saudi Arabia 42%, Egypt 10%, Qatar 8%, Lebanon 7%, United Arab Emirates 6% and Libyan Arab Jamahiriya 6%. The business environment and the economic performance of the Arab World still improving and the new policy and regulation that have been implemented in the Arab countries increased the attractiveness level of the FDI toward Arab countries. Despite the low rank of WGI in Arab World and the correlation of investment in some of the six indicators between countries in the Arab world especially in the highest receiver of FDI flows and in particular the GCC region the Business Doing reported great rank in regards to the proper business atmosphere for foreign investors. The six of the Arab countries Saudi Arabia, UAE, Qatar, Bahrain, Tunisia and Oman have climbed the scale on the ease of doing business ranked among the top 50 out of 183 countries, while Algeria, Comoros Mauritania, Iraq and Djibouti ranked very low on the same scale. The new policy and modification, which has been confirmed from World Bank by the Doing Business reports about the business environment of Arab World, show that their domestic laws in these countries pay attention to foreign companies to increase the investment in Arab world.

Business Attitudes to Government Export Services and Export Marketing Behaviour

by Peter Mellalieu

Cullwick, T. D. C., & Mellalieu, P. J. (1981). Business Attitudes to Government Export Services and Export Marketing Behaviour. NZ Journal of Business, 3, 33–54.

During the 1970s several countries sought to increase their exports of manufactured products and services. New... more During the 1970s several countries sought to increase their exports of manufactured products and services. New Zealand’s economic strategy has included this objective. By 1976 export of manufactured products had reached $431.9 million (19 per cent of total exports, $NZ in 1976 values). This level was a substantial increase from the $158.8 million of exports in 1971 (14 per cent of exports). Most exporters of these products and services focussed their attention on finding markets in Australia and the Pacific islands. Subsequently they ventured into America, Europe, and Asia. Throughout these developments exporters have received financial incentives and assistance from the Trade Services Division of the NZ Department of Trade and Industry, and through trade commissioners based in overseas markets.

The increasing commitment of manufacturers to exporting has attracted interest in understanding the attitudes and behaviors of firms in respect of specific decisions and their decision processes. By 1977 there were approximately 2000 manufacturing firms which were active in exporting. The growth of manufacturers’ involvement in exporting has been paralleled by the provision of a range of government export services based in New Zealand and overseas. The major advisory services offered by the government were those of the Trade Services Division and the Trade Commissioner Service [in 2012, now conducted by TradeNZ]. The work of these two agencies includes: trade policy; trade promotion, and commercial intelligence. Specific services include: negotiating access for NZ products in overseas markets; conducting market surveys; assessment of the sales potential for a specific product; export planning advice; establishment of business contacts; advice on tariffs and quotas; advice on the appointment of agents and distributors; organisation of trade fairs and exhibitions; publicizing of overseas tenders; and advice on shipping and export finance.

The study reported in this paper was initiated to assess the attitudes of current exporters to the foregoing government export services and assessing their relative use of these services. Furthermore, a current profile of the export marketing behaviour of individual firms was determined. The study explores the propositions that: (1) companies who believe government should be involved in the development of exporting will be more frequent users of government export services; (2) companies with a better knowledge of the export assistance activities of government will be more satisfied with the assistance they receive; and (3) companies that are more frequent users of government export services will be more satisfied with tyne help they receive. Suggestions are made about how government services to exporters might better meet the needs of exporters.

The New Zealand Exporter and Export Services: Analysis and Evaluation

by Peter Mellalieu

Mellalieu, P. J. (1978). The New Zealand Exporter and Export Services: Analysis and Evaluation (Thesis submitted for the degree of Master of Public Policy). Victoria University of Wellington, Wellington, New Zealand.

For a summary derived from this thesis, see:
Cullwick, T. D. C., & Mellalieu, P. J. (1981). Business Attitudes to Government Export Services and Export Marketing Behaviour. NZ Journal of Business, 3, 33–54. Retrieved from http://unitec.academia.edu/PeterMellalieu/Papers/1569499/Business_Attitudes_to_Government_Export_Services_and_Export_Marketing_Behaviour

During the 1970s several countries sought to increase their exports of manufactured products and services. New... more During the 1970s several countries sought to increase their exports of manufactured products and services. New Zealand’s economic strategy has included this objective. By 1976 export of manufactured products had reached $431.9 million (19 per cent of total exports, $NZ in 1976 values). This level was a substantial increase from the $158.8 million of exports in 1971 (14 per cent of exports). Most exporters of these products and services focussed their attention on finding markets in Australia and the Pacific islands. Subsequently they ventured into America, Europe, and Asia. Throughout these developments exporters have received financial incentives and assistance from the Trade Services Division of the NZ Department of Trade and Industry, and through trade commissioners based in overseas markets.

The increasing commitment of manufacturers to exporting has attracted interest in understanding the attitudes and behaviors of firms in respect of specific decisions and their decision processes. By 1977 there were approximately 2000 manufacturing firms which were active in exporting. The growth of manufacturers’ involvement in exporting has been paralleled by the provision of a range of government export services based in New Zealand and overseas. The major advisory services offered by the government were those of the Trade Services Division and the Trade Commissioner Service [in 2012, now conducted by TradeNZ]. The work of these two agencies includes: trade policy; trade promotion, and commercial intelligence. Specific services include: negotiating access for NZ products in overseas markets; conducting market surveys; assessment of the sales potential for a specific product; export planning advice; establishment of business contacts; advice on tariffs and quotas; advice on the appointment of agents and distributors; organisation of trade fairs and exhibitions; publicizing of overseas tenders; and advice on shipping and export finance.

The study reported in this paper was initiated to assess the attitudes of current exporters to the foregoing government export services and assessing their relative use of these services. Furthermore, a current profile of the export marketing behaviour of individual firms was determined. The study explores the propositions that: (1) companies who believe government should be involved in the development of exporting will be more frequent users of government export services; (2) companies with a better knowledge of the export assistance activities of government will be more satisfied with the assistance they receive; and (3) companies that are more frequent users of government export services will be more satisfied with tyne help they receive. Suggestions are made about how government services to exporters might better meet the needs of exporters.

New Zealand perspectives of international entrepreneurship

by Peter Mellalieu

Frederick, H., Thompson, J., & Mellalieu, P. J. (2004). New Zealand Perspectives of International Entrepreneurship. Handbook of Research on International Entrepreneurship (pp. 533–549). Leo-Paul Dana (Editor) Cheltenham, GL, UK: Edward Elgar.

Slightly larger in area than the United Kingdom, New Zealand is the world's most isolated country. Its closest eastern... more Slightly larger in area than the United Kingdom, New Zealand is the world's most isolated country. Its closest eastern neighbour is Chile, more than 9000 kilometres away. To the west, it takes more than three hours' flight to reach Sydney or Melbourne. Consequently, one might imagine that given a population of 2.4 million adults, New Zealand could hardly survive on its domestic market alone and that, therefore, its entrepreneurs would immediately become globalised. Although New Zealand has a competitive, open economy its real per capita income has fallen from the highest ranking during the 1950s to twentieth in OECD rankings by 1999. Although the NZ economy grew, other developed countries grew more rapidly.

To build a vibrant economy and regain a high OECD ranking, NZ must quickly adapt to the changing international environment. It needs to be innovative in everything it does so that the disadvantages of market size and distance from international markets are more than compensated for by the difference it brings to products and processes. To earn first-world incomes, the NZ economy needs to have a global reach and overcome the constraints of being a small country located in the South Pacific. Perhaps the ideal type of NZ-based international entrepreneur would be an e-commerce venture that goes international at birth. To do so requires prodigious amounts of innovation, risk-taking behaviour, and entrepreneurial talent. Do New Zealanders possess these capabilities? These matters are the subject of this chapter.

participative leadership

by Richard Wayman

A Holistic Model of Country of Origin Effect.

by Ahmet Bayraktar

Bayraktar, A. and Yeniyurt, S. (2012). A Holistic Model of Country of Origin Effect. Consortium for International Marketing Research (CIMAR), Taipei, Taiwan, 15-18 May 2012.