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Through an empirical analysis of the relationship between private participation in infrastructure and country risk, the paper shows that country risk ratings are a reliable predictor of infrastructure investment levels in developing countries. The results suggest that a difference of one standard deviation in a country's sovereign risk score is associated with a 27 percent increase in the probability of having a private participation in infrastructure commitment, and a 41 percent higher level of investment in dollar terms. The predictive ability of country risk ratings exists for all sectors of infrastructure and for both greenfield and concessions. On average, energy investments exhibit a higher sensitivity to country risk than transport, telecommunications, and water investments. Concessions are more sensitive than greenfield investments to country risk, although country risk is a good predictor of investment levels for both contractual forms. Although foreign direct investment is found to be sensitive to country risk, the causal relationship is not nearly as sensitive as it is with private participation in infrastructure. Finally, an analysis of private participation in infrastructure patterns for those countries emerging from conflict reveals that conflict-affected countries typically require six to seven years to attract significant levels or forms of private investments in infrastructure from the day that the conflict is officially resolved. Private investments in sectors where assets are more difficult to secure-such as water, power distribution, or roads-are slower to appear or simply never materialize.

Conflict --- Debt Markets --- Emerging Markets --- Energy --- Foreign direct investment (FDI) --- Infrastructure --- Investment and Investment Climate --- Macroeconomics and Economic Growth --- Non Bank Financial Institutions --- Public-private partnerships (PPPs) --- Risk --- Telecommunications --- Transport --- Transport Economics Policy & Planning --- Water

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This paper investigates the factors associated with foreign direct investment "surges" and "stops," defined as sharp increases and decreases, respectively, of gross foreign direct investment inflows to the developing world and differentiated based on whether these events are led by waves in greenfield investments or mergers and acquisitions. Greenfield-led surges and stops occur more frequently than mergers and acquisitions-led ones and different factors are associated with the onset of the two types of events. Global liquidity is the only factor significantly associated with a surge, regardless of its kind, while decline in global economic growth and a surge in the preceding year are the only predictors of a stop. Greenfield-led surges and stops are more likely in low-income and resource-rich countries than elsewhere. Global growth, financial openness, and domestic economic and financial instability enable mergers and acquisitions-led surges. These results differ from those in the literature on surges and stops and are particularly relevant in countries where foreign direct investments dominate capital flows.

Capital Flows --- Currencies and Exchange Rates --- Debt Markets --- Developing Countries --- Economic Theory & Research --- Emerging Markets --- Finance and Financial Sector Development --- Foreign Direct Investment (FDI) --- Greenfield (GF) Investment --- Macroeconomics and Economic Growth --- Mergers and Acquisitions (M&A) --- Mode of Entry --- Poverty Reduction --- Private Sector Development --- Stops --- Surges

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Considering their constant evolution and transformation, in this Special Issue, several authors provide contributions bringing light to different aspects related to food supply chains, based on several conceptual frameworks, agri-food areas and contexts, as well as multiple levels of analysis. In this book, the promotion of win–win investments in Brazil’s Agribusiness is discussed, as well as how family farmers can thrive in commodity markets in long agribusiness supply chains. The Logic of Collective Action for Rural Warehouse Condominiums, which is a new configuration in the agribusiness supply chain, is also addressed. In this book, the Brazilian Jabuticaba Supply Chain is analyzed through a multi-methodological approach. The role of logistics in food-waste reduction for wholesalers and small retailers of fruits and vegetables is also presented. The issue of transparency in global agribusiness in the Brazilian soybean supply chain is discussed based on companies’ accountability. Finally, the transformation of the food supply chain through technology and future research directions are highlighted in this Special Issue. This book aims to assist students, researchers and practitioners interested in the evolution and transformations of food supply chains.

food supply chains transformation --- stakeholder accountability --- business evolution --- corporate environmental management --- responses to environmental issues --- environmental --- social and governance values (ESG) --- food waste --- logistics --- retail --- wholesale --- supply chain management --- food supply transformation --- supply chain 4.0 --- food safety --- food quality --- food sustainability --- COVID-19 disruptions --- systematic review --- supply chain --- structuring problem --- family farming --- multimethodology --- collective action theory of logic --- collective actions --- rural warehouse condominiums --- rural development --- agri-food systems --- alternative models --- agriculture --- Brazil --- foreign direct investment (FDI) --- alternative food supply chain models --- conceptualizations of food supply chain transformations --- ongoing evolutions and transformations --- patents

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This book is a collection of high-impact papers accepted and presented at the 2019 Vietnam’s Business and Economics Research Conference (VBER2019) organised by Ho Chi Minh City Open University held on 18th–20th July 2019. The Special Issue is associated with a broad coverage of the contemporary issues in Business and Economics in Vietnam and other emerging markets reflecting a key theme of VBER2019: Vietnam’s Place in the Asia Pacific Region. A total of 14 papers were published from more than the 120 submissions to the VBER2019 Conference. Published papers had been undergone a rigorous reviewing process conducted by the Journal of Risk and Financial Management. The papers incorporated in this book address contemporary issues in business and economics from Vietnam and other emerging markets in the Asian region from various angles such as economics, finance, and statistics to management science. At the time of writing this note, some of the papers have attracted more than 1000 downloads in 3 months. In particular, a paper on “Foreign Direct Investment and Economic Growth from Developing Countries in the Short Run and Long Run” by Trang Thi-Huyen Dinh and her team has attracted almost 6000 downloads in 3 months. These statistics indicate that the papers published in this Special Issue have attracted the wide interest of readers. Among these 14 published papers, three main areas of important contemporary issues in Business and Economics in the Asian region can be identified. First, a block of papers deals with various important and fundamental issues in the emerging markets the Asian region, from exchange rate regime, financial inclusion, and financial development to energy consumption and environmental degradation. On the issue of CO2 emissions, energy consumption and economic growth in the ASEAN, Vo, Vo, and Le utilized various time series econometrics approaches. Key findings from this paper indicate that there are no long-run relationships among carbon dioxide (CO2) emissions, energy consumption, renewable energy, population growth, and economic growth in the Philippines and Thailand, but a relationship does exist in Indonesia, Myanmar, and Malaysia. Loo, in his paper on financial inclusion for the ASEAN, concluded that advancing internet capability and availability present investors an opportunity to offer financial technology or Fintech to meet the need for financial services in this digital era. Second, a challenge in quantitative studies for a single country, such as Vietnam, with limited data is generally noted. However, various empirical studies on Vietnam’s business and economics issues have been conducted. Nguyen, Quan, and Pham examined the cultural distance and entry mode of foreign direct investment in Vietnam. A key finding from their paper is that when there is a great cultural difference between Vietnam and their home country, foreign-invested firms prefer wholly owned subsidiaries over equity joint ventures. Within the Vietnamese market, Pham, Vo, Ho, and McAleer conducted a study on the issue of corporate financial distress. The authors conclude that the corporate financial distress prediction model, which includes accounting factors with macroeconomic indicators, performs much better than alternative models. In addition, the evidence confirms that the global financial crisis (GFC) had a damaging impact on each sector, with the Health & Education sector demonstrating the most impressive recovery post-GFC, and the utilities sector recording a dramatic increase in bankruptcies post-GFC. At another extreme of the spectrum, Van and Nguyen considered that competitive context, social influences, the understanding of managers about corporate social responsibility (CSR), and the internal environment of companies are the four drivers of CSR. The authors also argued that in the four drivers, competitive context has the strongest impact on adopting CSR. Third, last but not least, various papers focus on an important aspect of public finance. For an example, Pham, Pham, and Ly documented the effect of double taxation treaties on the bilateral trade of Vietnam with ASEAN member states, thereby making an extensive comparison with its EU partner countries. Their findings indicate the significant contributions of the tax treaties to Vietnam’s trade performance, not exclusively with ASEAN but also with EU partner countries. In addition, regarding public finance for Vietnam, Nguyen, Vo, Ho, and Vo investigated the contribution of fiscal decentralisation to economic growth across provinces in Vietnam. For the first time in Vietnam, the fiscal decentralisation index together its two subcomponents, including fiscal importance and fiscal autonomy, are developed. Findings from this paper indicate that while fiscal importance and an overall level of fiscal decentralisation have provided negative impact on provincial economic growth, fiscal autonomy has a positive impact on economic growth across provinces in Vietnam.

Technology: general issues --- fiscal autonomy --- fiscal decentralisation --- fiscal importance --- DGMM --- Vietnam --- performance --- internationalization --- organizational slack --- ASEAN --- CO2 emissions --- economic growth --- EKC --- energy consumption --- Granger causality --- VECM --- urbanization --- income inequality --- Driscoll and Kraay --- PMG --- agricultural commodity prices --- volatility --- crude oil prices --- structural vector autoregressive model --- impulse response functions --- pecking order theory --- trade off theory --- capital structure --- GMM --- listed firms --- industry level --- corporate financial distress --- bankruptcy --- distance to default --- fundamentals --- Global Financial Crisis --- double taxation treaty --- trade --- gravity model --- financial development --- FMOLS --- DOLS --- emerging markets --- corporate social responsibility --- textile and garment industry --- foreign direct investment (FDI) --- endogenous growth --- developing countries --- financial inclusion --- Fintech --- risk --- foreign direct investment --- competitiveness --- exchange rate regime --- Asia --- Reinhart and Rogoff --- cultural distance --- entry mode --- equity joint venture --- wholly owned subsidiary --- fiscal decentralization --- exchange rate --- Asian region --- fiscal autonomy --- fiscal decentralisation --- fiscal importance --- DGMM --- Vietnam --- performance --- internationalization --- organizational slack --- ASEAN --- CO2 emissions --- economic growth --- EKC --- energy consumption --- Granger causality --- VECM --- urbanization --- income inequality --- Driscoll and Kraay --- PMG --- agricultural commodity prices --- volatility --- crude oil prices --- structural vector autoregressive model --- impulse response functions --- pecking order theory --- trade off theory --- capital structure --- GMM --- listed firms --- industry level --- corporate financial distress --- bankruptcy --- distance to default --- fundamentals --- Global Financial Crisis --- double taxation treaty --- trade --- gravity model --- financial development --- FMOLS --- DOLS --- emerging markets --- corporate social responsibility --- textile and garment industry --- foreign direct investment (FDI) --- endogenous growth --- developing countries --- financial inclusion --- Fintech --- risk --- foreign direct investment --- competitiveness --- exchange rate regime --- Asia --- Reinhart and Rogoff --- cultural distance --- entry mode --- equity joint venture --- wholly owned subsidiary --- fiscal decentralization --- exchange rate --- Asian region

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This book is a collection of high-impact papers accepted and presented at the 2019 Vietnam’s Business and Economics Research Conference (VBER2019) organised by Ho Chi Minh City Open University held on 18th–20th July 2019. The Special Issue is associated with a broad coverage of the contemporary issues in Business and Economics in Vietnam and other emerging markets reflecting a key theme of VBER2019: Vietnam’s Place in the Asia Pacific Region. A total of 14 papers were published from more than the 120 submissions to the VBER2019 Conference. Published papers had been undergone a rigorous reviewing process conducted by the Journal of Risk and Financial Management. The papers incorporated in this book address contemporary issues in business and economics from Vietnam and other emerging markets in the Asian region from various angles such as economics, finance, and statistics to management science. At the time of writing this note, some of the papers have attracted more than 1000 downloads in 3 months. In particular, a paper on “Foreign Direct Investment and Economic Growth from Developing Countries in the Short Run and Long Run” by Trang Thi-Huyen Dinh and her team has attracted almost 6000 downloads in 3 months. These statistics indicate that the papers published in this Special Issue have attracted the wide interest of readers. Among these 14 published papers, three main areas of important contemporary issues in Business and Economics in the Asian region can be identified. First, a block of papers deals with various important and fundamental issues in the emerging markets the Asian region, from exchange rate regime, financial inclusion, and financial development to energy consumption and environmental degradation. On the issue of CO2 emissions, energy consumption and economic growth in the ASEAN, Vo, Vo, and Le utilized various time series econometrics approaches. Key findings from this paper indicate that there are no long-run relationships among carbon dioxide (CO2) emissions, energy consumption, renewable energy, population growth, and economic growth in the Philippines and Thailand, but a relationship does exist in Indonesia, Myanmar, and Malaysia. Loo, in his paper on financial inclusion for the ASEAN, concluded that advancing internet capability and availability present investors an opportunity to offer financial technology or Fintech to meet the need for financial services in this digital era. Second, a challenge in quantitative studies for a single country, such as Vietnam, with limited data is generally noted. However, various empirical studies on Vietnam’s business and economics issues have been conducted. Nguyen, Quan, and Pham examined the cultural distance and entry mode of foreign direct investment in Vietnam. A key finding from their paper is that when there is a great cultural difference between Vietnam and their home country, foreign-invested firms prefer wholly owned subsidiaries over equity joint ventures. Within the Vietnamese market, Pham, Vo, Ho, and McAleer conducted a study on the issue of corporate financial distress. The authors conclude that the corporate financial distress prediction model, which includes accounting factors with macroeconomic indicators, performs much better than alternative models. In addition, the evidence confirms that the global financial crisis (GFC) had a damaging impact on each sector, with the Health & Education sector demonstrating the most impressive recovery post-GFC, and the utilities sector recording a dramatic increase in bankruptcies post-GFC. At another extreme of the spectrum, Van and Nguyen considered that competitive context, social influences, the understanding of managers about corporate social responsibility (CSR), and the internal environment of companies are the four drivers of CSR. The authors also argued that in the four drivers, competitive context has the strongest impact on adopting CSR. Third, last but not least, various papers focus on an important aspect of public finance. For an example, Pham, Pham, and Ly documented the effect of double taxation treaties on the bilateral trade of Vietnam with ASEAN member states, thereby making an extensive comparison with its EU partner countries. Their findings indicate the significant contributions of the tax treaties to Vietnam’s trade performance, not exclusively with ASEAN but also with EU partner countries. In addition, regarding public finance for Vietnam, Nguyen, Vo, Ho, and Vo investigated the contribution of fiscal decentralisation to economic growth across provinces in Vietnam. For the first time in Vietnam, the fiscal decentralisation index together its two subcomponents, including fiscal importance and fiscal autonomy, are developed. Findings from this paper indicate that while fiscal importance and an overall level of fiscal decentralisation have provided negative impact on provincial economic growth, fiscal autonomy has a positive impact on economic growth across provinces in Vietnam.

fiscal autonomy --- fiscal decentralisation --- fiscal importance --- DGMM --- Vietnam --- performance --- internationalization --- organizational slack --- ASEAN --- CO2 emissions --- economic growth --- EKC --- energy consumption --- Granger causality --- VECM --- urbanization --- income inequality --- Driscoll and Kraay --- PMG --- agricultural commodity prices --- volatility --- crude oil prices --- structural vector autoregressive model --- impulse response functions --- pecking order theory --- trade off theory --- capital structure --- GMM --- listed firms --- industry level --- corporate financial distress --- bankruptcy --- distance to default --- fundamentals --- Global Financial Crisis --- double taxation treaty --- trade --- gravity model --- financial development --- FMOLS --- DOLS --- emerging markets --- corporate social responsibility --- textile and garment industry --- foreign direct investment (FDI) --- endogenous growth --- developing countries --- financial inclusion --- Fintech --- risk --- foreign direct investment --- competitiveness --- exchange rate regime --- Asia --- Reinhart and Rogoff --- cultural distance --- entry mode --- equity joint venture --- wholly owned subsidiary --- fiscal decentralization --- exchange rate --- Asian region