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Accelerating growth in business globalization places managers in an international environment with more ethical challenges.

Ethical principles that govern businesses in a particular culture may not match with the conditions, norms and customs of other cultures.

The article aims to examine comparatively the role of culture in explaining ethical issues and dilemmas in organizations.

Treating the issue of business ethics in companies nowadays offer different perspectives depending on the influence of the cultural context of countries where these companies operate.

Each cultural context shows its specificity, in addition to legal regulations, customs, habits or moral issues, which deserve to be highlighted in a paper on how to conduct business from an ethical perspective.


Research about the phenomenon of rapid internationalization of small and medium size companies has evolved over the last two decades. Nevertheless, questions about business models or value creation in born global enterprises are rarely addressed in the literature. The objective of this article is to develop a theoretical framework for analyzing the sources of value creation in the business models of international new ventures (INV) global companies, starting with adapting the model by Amit and Zott [, ] to early internationalizing venture. Current literature on international entrepreneurship, business models and value creation is also used as a basis for suggesting future empirical research recommendations.


In recent decades economic integration and globalization processes facilitate the firms’ internationalization. The main determinants of that process are divided into three categories - internal factors, external factors and personal characteristics of an entrepreneur. The latter is considered to be the most important and will be the research subject in this article. The objective of this paper is to analyze the determinants of firm internationalization on the individual level and to verify whether entrepreneurial traits of the founder are indeed important for the internationalization. The research is based on the Global Entrepreneurship Monitor data, using which we employ independent sample t-test and one-way ANOVA analyses to test the hypotheses. The results show that the only variable which determines international orientation of a company is the level of education of an entrepreneur. All other characteristics of an entrepreneur do not correlate with international orientation of a firm. Results obtained make important contribution to entrepreneurship research - they show significant shift in international entrepreneurship trends - internationalization is getting more available, less risky and more natural for entrepreneurs of different ages, backgrounds and individual characteristics. Findings may be useful for further international entrepreneurship research.


This article focuses on the determinants of inward foreign direct investment (FDI) in Russia. The article briefly describes the historical context of foreign investment policymaking in Russia since the beginning of the economic transition to an open market economy after the dissolution of the Soviet Union. When compared to other developing countries, Russia's FDI stocks continue to lag despite a set of proactive measures undertaken by the national government. Following the literature review, the most commonly cited determinants explaining inward FDI in Russia include market size, labour productivity, trade and investment barriers, domestic exchange rate, rule of law and institutional framework.

This article aims to contribute empirically to the study of determinants of inward FDI in Russia.

This article uses the Pseudo-Poisson Maximum Likelihood (PPML) estimation technique, the robustness of the PPML estimation is then verified using a standard autoregressive integrated moving average (ARIMA) model with the Durbin–Watson autocorrelation test.

Our benchmark results suggest the efficiency-seeking motive of FDI over a market seeking and horizontal motive as a main reason for inward FDI in Russia. The ARIMA regression indicates the absence of statistical significance of economic openness and variables of labour productivity. Overall, the market size and tax rate variables have the most positive effects on the inward FDI, while barriers to trade and sanctions have the most negative effects. The results confirm that for transitional economies, integration into the world economy, proactive local development and tax cuts for outside investors remain to be critical when it comes to attracting FDI.


The paper aims to examine the Human Resource Development (HRD) in small and medium enterprises (SMEs) funded by the European Social Fund (ESF) in Poland between 2007 and 2013. The research is based on theories that support HRD investment specifically in SMEs, and uses the Human Capital Theory (HCT) with some extensions. The paper addresses the question of public support in HRD and international support for development purposes. Finally it stresses that the support may have national and international implications. The research methodology involved a series of computer assisted telephone interviews (CATI) in a sample of 44 SMEs that received EU funding for HRD. It also included computer assisted personal interviews (CAPI) with experts in the ESF, participant observation and analysis of the project documentation. The findings indicate that the ESF effort of international scope had a positive impact in Polish SMEs.


The paper is focused on developing a predictive, statistical model depicting the relationships among companies' involvement in internationalization, engagement in cooperation with business partners and their fnancial performance.

Data were collected through a CATI survey of managers of medium-sized Polish manufacturing enterprises. The principal statistical technique employed was binary logistic regression. The regression equation model contained four statistically significant dichotomous predictors: (1) sales abroad above 30% of total sales, (2) cooperation with foreign suppliers, (3) cooperation with domestic distributors, and (4) Export-Only Early-Internationalized status of the company. The two former variables were correlated positively with the profit margin, while the two latter shown negative associations.

The principal limitation of the study was a relatively small sample size of 110 units that, while enough to detect patterns with strong and medium-strong effect sizes, might not have provided sufficient power to identify weaker associations. Generalizations were also constrained by the selection criteria of the sample to medium-sized Polish enterprises from traditional manufacturing B2B industries.

The study yielded a regression model that permitted isolation of the main factors linked to the degree of sales profitability, which could assist managers in their efforts to enhance profit margins and in competitor analysis. The originality of the approach involves using a comprehensive list of 25 potential predictors in analysis that represented salient dimensions of cooperation and internationalization. The predictive capacities of the model were found to be sufficient to make it useful for both scholars and practitioners. The research relied on a sample drawn from the population that has rarely been studied on similar subjects.


The aim of the paper is to identify and assess the role of economic sciences in relation to competitiveness and globalisation, two basic concepts of the market economy. This role is to explain and interpret their essence but also to determine their potential practical usefulness, primarily in the context of economic policy development. The considerations mentioned in the article are, as a rule, of a general and universal nature and do not relate especially to any particular countries or groups of countries. The basic method employed in the study is a critical analysis of the subject literature. The paper consists of an introduction, three sections, and conclusions. Section 1 contains a basic discussion of the subject of economic sciences and describes their four features: cognitive productivity, practical usefulness, dismal nature and beauty. Section 2 presents the contribution of economic sciences to understanding and interpreting the phenomenon of competitiveness. Section 3 focuses on defining and elucidating the idea of globalisation and an examination of its most important aspects. The paper ends with eight conclusions formulated on the basis of this discussion.


The aim of this paper is to look at the extent and type of internationalization among Hungarian information technology (IT) small- and medium-sized enterprises (SMEs) and the possible relationship between the degree of innovativeness and the internationalization of these companies. Information technologies play an important role in the Hungarian economy: this sector is one of the most R&D intensive industries in which many SMEs are active.

The paper reviews relevant theories of internationalization in research, development and innovation (RDI) to give a broader picture of the environment in which SMEs have to succeed. This is followed by a secondary data analysis to show the situation of the industry in Hungary, then by an analysis of the survey data and interviews designed specifically for the purpose of this research.

The new empirical results show that Hungarian IT SMEs are still at the beginning of the internationalization process: while aware of the advantages of collaborations and internationalization, they are still reluctant to venture out of their “safety zone” and therefore they collaborate only with their closest partners. Very few SMEs have decided to establish international RDI contacts.

The analysis suggests that the main barriers in internationalization of the Hungarian SMEs are due to lack of capital, appropriate managerial capabilities and innovation-friendly economic environment.

So far, most theories/empirical research have concentrated on the role and activities of multinational enterprises in the internationalization of RDI, while in the literature less relevant knowledge on SMEs is available. The aim of this paper is to contribute to this latter part of the literature by analyzing the international activities of innovative/R&D-intensive SMEs in Hungary.


Objective: Our paper examines the X-Culture challenges and experience through the eyes of professors and students alike and draws attention to the significance of such projects in international business practices in addition to examining the key influencing factors of interculturalism and ICT technologies.

Methodology: The students were asked to share their experience with us in a report or at an interview. Most participants considered the program to be very useful. They made the greatest progress in understanding and communicating with others and also appreciated working and collaborating with the others from different working cultures. The research was carried out in the countries of Eastern Europe to present our experience.

Findings: One of the consequences of globalization is that the various forms of contact are becoming independent of place. Adaptation to the new dimensions can be eased if the students can take part in international cooperation. A lot of students have improved their chances of landing an attractive job on the labor market and extended their social and professional networks by participating in X-Culture International Student Collaboration Project. Challenges were posed mainly by differences in time, but also cultural differences and language barriers were frequent.

Value Added: The students of our universities have taken part in the X-Culture program. In addition to studying the course material and gaining special skills in writing business plans, challenges can be experienced, and best practices learned.

Recommendations: It is extremely important in shaping the business environment of future workplaces so that is why such programs should be included in the curricula of business schools and management development programs.


This paper explores the influence of the quality of a host country’s institutional environment on outflows from that country of foreign direct investment. The main finding of this paper is that such quality does play an important role, particularly with respect to governance quality and political stability. This implies that better institutional conditions may reduce undesirable outflows of capital, and the quality of those institutions may impact FDI effectiveness in host countries.