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Lai, Yu-Cheng
- Labour Cost & Foreign Direct Investment-Evidence from India
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Authors
Affiliations
1 Department of Finance, Shih Chien University Kaohsiung Campus, Neimen Shiang, Kaohsiung 845, TAIWAN, CN
2 Department of PM&IR, School of Business and Human Resources, XLRI Jamshedpur 831001, IN
1 Department of Finance, Shih Chien University Kaohsiung Campus, Neimen Shiang, Kaohsiung 845, TAIWAN, CN
2 Department of PM&IR, School of Business and Human Resources, XLRI Jamshedpur 831001, IN
Source
Indian Journal of Industrial Relations: Economics & Social Dev., Vol 46, No 3 (2011), Pagination: 396-411Abstract
This study measures the effect of labour cost on foreign direct investment in India and finds out whether the foreign owned firms pay higher wages than their domestic counterparts. The estimation has been done by the Ordinary Least Square (OLS) technique. Data suggest that after controlling the output, the lower average wage attracts foreign investment in a firm implying that India enjoys comparative advantages of low labour cost which enables her to lead in product competition globally. Second, Indian firms will have efficiency wage to encourage employees to produce higher output. In addition, the foreign owned firms in India pay higher wages than their domestic counterparts. The firms with higher ratio of foreign ownership pay more wages than the firms having lower ratio.References
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- Lipsay R. E. & F. Sjöholm (2004), The Impact of Inward FDI on Host Countries: Why such Differences? Does FDI Promote Development? City University of New York, New York
- Sarkar S. & Y. C. Lai (2009), “Foreign Direct Investment, Spill Overs and Output Dispersion – The case of India”, International Journal of Information and Management Sciences, 20(4): 491-503
- Wei W. (2005), “China and India: Any Difference in their FDI Performance?” Journal of Asian Economics, 16: 719-36.
- Labor Legislation, Educated Labor & Foreign Direct Investment in Manufacturing in Taiwan
Abstract Views :284 |
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Authors
Affiliations
1 Department of Finance, Shih Chien University, Kaohsiung Campus,372 Minchuing Second Road, Kaohsiung 806, TW
2 XLRI Jamshedpur, School of Business and Human Resources,Jamshedpur 831001, IN
1 Department of Finance, Shih Chien University, Kaohsiung Campus,372 Minchuing Second Road, Kaohsiung 806, TW
2 XLRI Jamshedpur, School of Business and Human Resources,Jamshedpur 831001, IN
Source
Indian Journal of Industrial Relations: Economics & Social Dev., Vol 55, No 1 (2019), Pagination: 39-53Abstract
This study shows that educated labor is an important factor for output spill over and the sectors or firms in Taiwan with higher percentage of educated workforce have exerted a greater pull on foreign investment, whereas the local Taiwanese firms with higher percentage of educated workforce were unlikely to invest abroad. It was found that initially both foreign and domestic firms have reduced their investments when government introduced new legislations to regulate working conditions and employment practices in Taiwan. But when the government continued introducing more stringent labor standards, the country witnessed an upsurge in inflows of investment over a period of time and the domestic firms began investing abroad instead of concentrating in the home country.References
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- Dollar, D., Iarossi, G.&Mengitsae, T. (2002), “Investment Climate and Economic Performance: SomeFirm Level Evidence from India”,Center for Research on Economic Development and Policy Reform, Stanford University, Working Paper, (143).
- Feenstra, R. C.& Hanson,G. H. (2001),”Global Production Sharing and Raising Inequality: A Survey of Trade and Wages”,Working Paper 8372, Cambridge, MA, NBER.
- Gao, T. (2005),”Labor Quality and the Location of Foreign Direct Investment: Evidence from China”,China Economic Review, 16(3): 274-292.
- Hanushek, E.A.&Kimko, D. D. (2000), “Schooling, Labor-force Quality, and the Growth of Nations.” American Economic Review, 90(5): 1184-1208. .
- Hatzius, J. (2000), “Foreign Direct Investment and Factor Demand Elasticities”,European Economic Review, 44(1): 117-43.
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- Janicki, H. P.&Wunnava, P. V. (2004),”Determinants of Foreign Direct Investment: Empirical Evidence from EU Accession Candidates”, Applied Economics, 36(5): 505-09.
- Javorcik, B. S.&Spatareanu, M. (2005), “Do Foreign Investors Care about Labor Market Regulations? “,Review of World Economics, 141(3): 375-403.
- Kucera D., (2002),”Core Labor Standards and Foreign Direct Investment”, International Labor Review, 141(2): 31–69.
- Kutner, M. H., Nachtsheim, C. J., Neter, J. & Li, W. (2005), Applied Linear Statistical Models. Ebook: https://rvum4t7a3eh12.storage.googleapis.com EgcadnQgp8naWUIP7812.pdf
- Lai, Y.C. &Masters, S. (2005),”The Effects of Maternity and Pregnancy Benefits on Women’sWages and Employment in Taiwan, 1984-1996",Industrial and Labor Relation Review, 58(2): 274-81.
- Lai, Y. C. (2010), “The Effect of Migrant Workers on Labor in the Manufacturing Industry in Taiwan”,Journal of International and Global Economic Studies,3(2): 39-52.
- Lai, Y. C. (2019),”The Effect of Migrant Workers on Native Workers — Evidence of College Premium from Taiwan ROC”,Global Economic Review, 48(1):88-110 (Doi: 10.1080/1226508X.2019.1571429).
- Lai, Y. C.&Sarkar, S. (2011),”Labor Cost and Foreign Direct Investment Evidence from India”, Indian Journal of Industrial Relations, 46(3): 396-411.
- Lai, Y. C.& Sarkar, S. (2013),”Labor Market Effects of Work-Sharing Arrangements in Taiwan R O C”,International Journal of Manpower, 34(6): 635-657.
- Lai, Y.C., and Sarkar, S. (2016),”Effects of Paid Parental Leave Allowance on Labor Market Outcomes in Taiwan”,International Journal of Information and Management System, 27(4): 379-403.
- Lai, Y. C.& Sarkar, S. (2017a),”Gender Equality Legislation and Foreign Direct Investment: Evidence from the Labor Market of Taiwan ROC”,International Journal of Manpower, 38(2): 160-79.
- Lai, Y. C.& Sarkar, S. (2017b),”Do High FDI Indian Firms Pay Low Wages & Have Higher Output?”, Indian Journal of Industrial Relations, 52(3): 432-42.
- Lee, J.S.& Wu, H.L. (1996),”The 1984 Fair Labor Standards and Its Impact on Industrial Development in the Republic of China on Taiwan”, inLee J.S.(ed),The Labor Standards and Economic Development, Taipei: 147-72
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- Lemmon, M. L.&Lins, K.V. (2003),”Ownership Structure, Corporate Governance, and Firm Value: Evidence from the East Asian Financial Crisis”,Journal of Finance,58(4): 1445–68.
- Lin, Y. L. (2009),”Employment Protection and Wages”,Working Paper Economics, fju.edu.tw
- Mitton, T. (2002),”A Cross-firm Analysis of the Impact of Corporate Governance on the East Asian Financial Crisis”, Journal of Financial Economics, 64(2): 215–41.
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- Noorbakhsh, F.,Paloni, A.& Youssef, A. (2001),”Human Capital FDI Inflows to Developing Countries”,World Development, 29(9): 1593–1611.
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- Sarkar, S.&Lai, Y. C. (2009),”Foreign Direct Investment, Spillovers and Output Dispersion – The Case in India”,International Journal of Information and Management Science, 20(4): 491-503.
- Vijaya, R. M.&Kaltani, L.(2007),”Foreign Direct Investment and Wages: A Bargaining Power Approach”, Journal of World-system Research, 13(1): 83-95.
- Wage Premium via Education &Gender Difference through Labor Disputes on OFDI in Taiwan ROC
Abstract Views :121 |
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Authors
Affiliations
1 Department of Finance, Shih Chien University Kaohsiung Campus, No. 200 University Rd, Neimen Shiang, Kaohsiung 845, TW
1 Department of Finance, Shih Chien University Kaohsiung Campus, No. 200 University Rd, Neimen Shiang, Kaohsiung 845, TW
Source
Indian Journal of Industrial Relations: Economics & Social Dev., Vol 56, No 4 (2021), Pagination: 609-624Abstract
We studied specific labor market outcomes to ascertain and compare the effects of labor laws (contemplating the cases of labor disputes) and the effect of education of labor on wage in Taiwan. The rising cases of labor disputes have also made certain amount of positive impact on the wages of educated workers in the outward FDI intensive industries in Taiwan. The country has time and again resisted stern enforcement of labor regulations as it believed that stringent conditions would bring in additional wage premium via educational difference, thus compelling the domestic firms to move outside Taiwan. It also created a narrow difference between gender on wage premium because of educational qualification where wages of women workers had increased more than mens wages.References
- Asiedu, E. (2006), “Foreign Direct Investment in Africa: The Role of Natural Resources, Market Size, Government Policy, Institutions, and Political Instability”, The World Economy, 29 (1): 63–77.
- Bazillier, R. (2008), “Core Labor Standards and Development: Impact on Long–Term Income”, World Development, 36 (1): 17–38.
- Bleeker, T. L. (2011), Vertical FDI and Labor Standards: Panel Data Analysis on the Relationship Between Vertical FDI and Labor Standards, Master Thesis, Erasmus University Rotterdam, Netherlands.
- Busse, M., Nunnenkamp, P. & Spatareanuc, M. (2011), “Foreign Direct Investment and labor Rights: a Panel Analysis of Bilateral FDI Lows”, Applied Economics Letters,18 (2): 149–52.
- Carstensen, K. & F. Toubal (2003), Foreign Direct Investment in Central and Eastern European Countries: A Dynamic Panel Analysis, Kiel working paper, 1143, Institut für Weltwirtschaft, Kiel, 27.
- Cramton, P., Mehran, H. & Tracy, J. S. (2008), ESOP Fables: The Impact of Employee Stock Ownership Plans on Labor Disputes, FRB of New York Staff Report.
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- Gao, T. (2005), “Labor Quality and the Location of Foreign Direct Investment: Evidence from China”, China Economic Review,16 (3): 274–92.
- Hanushek, E.A. & D. D. Kimko (2000), “Schooling, Labor–force Quality, and the Growth of Nations”, American Economic Review, 90 (5): 1184–1208.
- Huang, Y., Y. Ma, Z., Yang, and Y. Zhang. (2016), “A Fire Sale without Fire”: in Janicki, H. P. and P. V. Wunnava, (2004), “Determinants of Foreign Direct Investment: Empirical Evidence from EU Accession Candidates” Applied Economics, 36:505–509.
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- Kinoshita, Y. & Mody, A. (1997), The Usefulness of Private and Public Information for Foreign Investment Decisions, No. 1733. World Bank Publications.
- Kokko, A. (2006), The Home Country Effects of FDI in Developed Economies (Vol. 225), Stockholm: European Institute of Japanese Studies.
- Lai, Y. C. & Sarkar, S. (2013), “Labor Market Effects of Work–sharing Arrangements in Taiwan, ROC”, International Journal of Manpower, 34 (6): 635–57.
- Lai, Y. C. & Sarkar, S. (2016), “Effects of Paid Parental Leave Allowance on Labor Market Outcomes in Taiwan”. International Journal of Information and Management Science, 27 (4): 379–403.
- Lai, Y. C. & Sarkar, S. (2017), “Gender Equality Legislation and Foreign Direct Investment”, International Journal of Manpower, 38 (2): 160–79.
- Lai, Y.C.(2019), “Effects of Participation of Foreign Migrant Workers in Labor Market on Native Workers: Evidence Based on Change Noticed in college Pramium in Taiwan ROC” Global Economies review, 48(1):88110.
- Lee, L. F. (1983), “Generalized Econometric Models with Selectivity”, Econometrica, 51 (2): 507–12.
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- Noorbakhsh, F., Paloni, A. &Youssef, A. (2001), “Human Capital and FDI Inflows to Developing Countries: New Empirical Evidence”, World Development, 29 (9): 1593– 1610.
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- Sarkar, S. & Y. C. Lai (2009), “Foreign Direct Investment, Spillovers and Output Dispersion – The Case in India”, International Journal of Information and Management Science, 20 (4): 491–503.
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- The Effect of COVID-19 on Stock Prices of the Biotech Sector in Taiwan ROC
Abstract Views :142 |
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Authors
Affiliations
1 Department of Finance, Shih Chien University, Kaohsiung Campus, TW
1 Department of Finance, Shih Chien University, Kaohsiung Campus, TW
Source
International Journal of Banking, Risk and Insurance, Vol 10, No 1 (2022), Pagination: 68-73Abstract
This study discusses the impact of COVID-19 on the biotech industry vs. TSEC Taiwan 50 Components stocks. We found that the price of stocks in the biotech sector in Taiwan increased due to the COVID-19 pandemic. The financial leverage ratio did not significantly affect the stock price of biotech companies during the COVID-19 pandemic. The number of confirmed diagnosed cases in Taiwan decreases the stock price of biotech companies, for high ROA. In contrast, the number of confirmed diagnosed cases in Taiwan increases the stock price of biotech companies, for high ROE. Investors have more confidence in the biotech firms with shareholder returns during the COVID-19 pandemic.Keywords
COVID-19, ROA, ROE, Biotech.References
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- Ding, W., Levine, R., Lin, C., & Xie, W. (2021). Corporate immunity to the COVID-19 pandemic. Journal of Financial Economics, 141(2), 802-830.
- Höhler, J., & Lansink, A. O. (2021). Measuring the impact of COVID-19 on stock prices and profits in the food supply chain. Agribusiness, 37(1), 171-186.
- Hong, H., Bian, Z., & Lee, C. C. (2021). COVID-19 and instability of stock market performance: Evidence from the US. Financial Innovation, 7(1), 1-18.
- Hsu, Y. C., Hsu, C. Y., & Kang, H. Y. (2020). Taiwan stock exchange weighted index prediction models before and after coronavirus disease 2019 (COVID-19). Journal of Innovation and Business Management (Taiwan), 9(2), 39-64.
- Izzeldin, M., Muradoğlu, Y. G., Pappas, V., & Sivaprasad, S. (2021). The impact of COVID-19 on G7 stock markets volatility: Evidence from a ST-HAR model. International Review of Financial Analysis, 74, 101671.
- Lai, Y. C., Hu, M. C., & Wang, C. A. (2021). The study of the COVD-19 on electronical and financial stock price in Taiwan. Journal of Global Management and Economics (Taiwan), 17(1), 59-68.
- Lai, Y. C., & Masters, S. (2005). The effects of mandatory maternity and pregnancy benefits on women’s wages and employment in Taiwan, 1984-1996. Industrial and Labor Relations Review, 58(2), 274-281.
- Lai, Y. C. (2010). The effect of migrant workers on labor in the manufacturing industry in Taiwan. Journal of International and Global Economic Studies, 3(2), 39-52.
- Lai, Y. C., & Sarkar, S. (2013). Labour market effects of work-sharing arrangements in Taiwan, ROC. International Journal of Manpower, 34(6), 635-657.
- Lai, Y. C., & Sarkar, S. (2016). Effects of paid parental leave allowance on labour market outcomes in Taiwan. International Journal of Information and Management Science, 27(4), 379-403.
- Lai, Y. C., & Sarkar, S. (2022). The role of labour unrest and skilled labour on outward foreign direct investment in Taiwan, Republic of China, ROC. The Economic and Labour Relations Review, 10353046211066932 (Forthcoming).
- Lai, Y. C., & Sarkar, S. (2017). Gender equality legislation and foreign direct investment. International Journal of Manpower, 38(2), 160-179.
- Lai, Y. C. (2019). Effect of participation of foreign migrant workers in labour market on native workers: Evidence based on change noticed in college premium in Taiwan ROC. Global Economic Review, 48(1), 88-110.
- Lai, Y. C. (2021). Wage premium via education & gender difference through labor disputes on OFDI in Taiwan ROC. Indian Journal of Industrial Relations, 56(4), 609-624.
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