Showing papers by "Martin Hess published in 2005"
TL;DR: In this article, the implications of the rapid internationalization of a small cadre of retail transnational corporations over the last 15 years for supply network structures in a range of economies in Eastern Europe and East Asia are explored.
Abstract: This paper explores the implications of the rapid internationalization of a small cadre of retail transnational corporations over the last 15 years for supply network structures in a range of economies in Eastern Europe and East Asia. Five sets of ongoing restructuring dynamics are identified: the centralization of procurement, logistical upgrading, supply network shortening and new intermediaries, the imposition of quasi-formal contracts, and the development of private standards. It is suggested that these processes are leading to an ongoing 'shakeout' of the supply base that is favouring relatively large, well-capitalized suppliers. Copyright 2005, Oxford University Press.
200 citations
TL;DR: This paper examined stock returns in a cross section of emerging and mature markets (49 countries) over the period 1980-1999 and found that a deeper and higher quality banking system is associated with lower volatility of stock returns and greater synchronization in the movements of domestic and world returns.
59 citations
Posted Content•
TL;DR: In this article, the impacts of macroeconomic shocks on various sector indices of the Swiss stock market were analyzed using a VECM model to disentangle local and foreign as well as macroeconomic and financial effects.
Abstract: A large body of evidence indicates that macroeconomic and financial variables are dynamically interrelated. In an international setup, we analyze the impacts of macroeconomic shocks on various sector indices of the Swiss stock market. We use a VECM model to disentangle local and foreign as well as macroeconomic and financial effects. Sector subindices diverge to an important extend in their sensitivity to news about fundamental variables, a fact to be taken into account for asset allocation.
23 citations
2 citations
Posted Content•
TL;DR: In this article, the implications of the rapid internationalization of a small cadre of retail transnational corporations over the last 15 years for supply network structures in a range of economies in Eastern Europe and East Asia are explored.
Abstract: This paper explores the implications of the rapid internationalization of a small cadre of retail transnational corporations over the last 15 years for supply network structures in a range of economies in Eastern Europe and East Asia. Five sets of ongoing restructuring dynamics are identified: the centralization of procurement, logistical upgrading, supply network shortening and new intermediaries, the imposition of quasi-formal contracts, and the development of private standards. It is suggested that these processes are leading to an ongoing `shakeout` of the supply base that is favouring relatively large, well-capitalized suppliers.
2 citations