1、1 中文 3920 字 Author： Roland Bardy, Stephen Drew， Tumenta F. Kennedy Nationality： USA， USA， Germany Originate from： Journal of Business Ethics Springer Science+Business Media B.V. 2011 10.1007/s10551-011-0994-7 外文翻译 原文 1 Foreign Investment and Ethics: How to Contribute to Social Responsibility by Doin
2、g Business in Less-Developed Countries 1.Introduction Globalization, foreign direct investment (FDI), and trade can potentially bring social, economic, and business benefits to emerging market countries through inflow of capital, knowledge, and increased employment. However, the specific conditions
3、and mechanisms for this to happen are complex, not well understood, and may depend upon an individual countrys situation. There is a broad stream of research which argues on the one hand that FDI effects can be unpredictable, unintended, and counterproductive (Nunnenkamp 2001； Yamin and Sinkovics 20
4、09), or even threatening (Dixon et al. 1986； Mengistu 2009). Other authors show a very positive and engaged posture with development issues (Meyer 2004； Ramamurti 2004). There is also an evidence of recent more realistic and critical assessment, probing more deeply into the external effects of inter
5、national business (Ghauri and Yamin 2009). Much research focuses on economic development (for an overview see Moran et al. 2005), and only a few authors deal with social development (Pratt 1991； Donaldson 2001； Kolk and van Tulder 2006； Jamali 2010). However, there are related ethical and social iss
6、ues that are often crucial for multinational enterprise (MNE) strategies and long-term success. These include corruption, employment conditions, marketing practices, and effects on the natural environment (Donaldson 1989； Longworth 1998). The impact of such issues on host countries has been investig
7、ated by Glac (2004), Bennett (2002), and Wei 2 (2000). 2.Incentive and Advantage Based Ethics Pre-modern philosophy considered (universal) standards as given. We argue that a different approach which comes closer to relativism and even constructivism is needed in contemporary complex global business
8、. Homann (2002) states that in the age of globalization, moral foundations should be based on advantages and incentives, and that ethics is not about following rules, but about developing them, i.e. not about just following rules but setting the rules of the game. With so-called incentive- and advan
9、tage based ethics (Luetge 2005), the question is not whether altruism or other nonadvantage seeking behaviors are historic anachronisms nor if practice has proven that only self-interested behavior leads to beneficial economic result. There is a long traditionboth in public and academic discourseof
10、discussing the tension-filled relationship between profit and morality under competitive market circumstances (Hemphill 2004). Often, proof is sought by recurring to a list of moral concerns, which includes environmental pollution, global warming, child labor, human rights violations, the deteriorat
11、ion of social standards like job security, and the fight against corruption. In these instances, and in many more, what for a long time has been looked at as clash between private interest and public interest, is now becoming a collaborative issue. Private business firms seem increasingly willing to
12、 take on the role of corporate citizens by embracing the rights and duties of political actors. They have engaged in rule-finding discourses as well as rule-setting processes in which they actively cooperate with government actors and/or civil society organizations. But what are their motives and th
13、eir incentives, and what is required to encourage the pursuit of ethical behavior? One answer lies with what Boatright (1999) has called the mistake on which business ethics often rest. 3.Attracting and Conducting FDI: A Two-Way Street Through FDI, a company not only penetrates a host countrys marke
14、t, it may also gain access to resources, economies of scale and scope in production, logistics, and marketing processes. Important markets include supply chains, distribution networks, and end customers. Whether a firm chooses FDI rather than serving foreign markets through exporting, licensing, all
15、iances, or other means is determined by three factors (Dunning and Lundan 2008). These include: a transferable competitive advantage in the home-market, specific characteristics of the foreign market which allow the firm to exploit its competitive position in that market, and the firms 3 ability to
16、increase its competitive position by taking advantage of what the host country has to offer for controlling the entire value-chain. All three conditions must be present or FDI may not take place (Dunning and Lundan 2008). The firm-specific advantages which constitute spillover effects of FDI (prolif
17、eration of technology, secondary employment, and enhancement of skills) are often what less-developed countries need for their growth and development. The host country and the investor may focus on the location-specific advantages as factors to entice higher levels of FDI inflows. When the three con
18、ditions as stated above are missing then FDI either does not occur or occurs only at very low levels. This explains why some areas of the world, especially the poorest, fail to attract FDI. Although FDI flows to Africa have increased in recent years, these represent only a small portion of the total
19、 flows to developing countries. Average annual FDI flows increased from US $ 2.2 bn. in 1980, to 15 bn. during the period 20002004. However, Africas share of global flows fell from 2.3% in 1980 to about 1.5% during 20002004. As a percentage of total flows to developing countries, Africas share fell
20、from 10% in 1980 to 7% during 20002004 (Cleeve 2009). Local infrastructure, effective macroeconomic policy, and reliable data of possible host nations are decisive in choice of location for foreign firms. These are often lacking in Africa. Knowledge of a country or region is crucial in the choice of
21、 location, and without this, investors may underestimate entrepreneurial opportunities or overestimate risks, pushing such locations to the periphery of the decision-making process. But there are investment opportunities in almost any region of Africa. According to UNCTAD (2011a), Africa offers the
22、highest return on FDI in the world, far exceeding all other regions. While not yet as competitive as the BRIC countries, the demographics bode well for Africa as a market as more than half its population is under the age of 24. Europes population will lose 60 million people by 2050, however, Africa
23、will add 900 million. Ironically, Africas very poverty creates opportunities: Education； healthcare； infrastructure； banking the unbanked； and middle class aspirational consumer goods etc. (Luiz 2010). Some areas in sub-Saharan Africa still have deficiencies in all these areas, and more often than n
24、ot, the risk profile is heightened by political and institutional instability and unpredictability and high levels of corruption (Ngowi 2001). Investors need reliable information, but too often the official statistics are lacking or unreliable and official sources cannot provide robust data on markets, business partners, and available labor (Kennedy 2011).
