Editorial

Citation

Akbar, Y.H. (2006), "Editorial", International Journal of Emerging Markets, Vol. 1 No. 3. https://doi.org/10.1108/ijoem.2006.30101caa.001

Editorial

Issue 3 continues our emphasis on showcasing research from areas of the world that are relatively under-researched. We present a paper on the Generation Y consumer habits in Kazakhstan by Lee and Tai. The research is interesting in that it tests our theories of marketing and consumer behavior in an emerging market context and it also allows us to reflect on the pervasive role of “western consumerism” in developing countries. Young Kazakh consumers faced with a barrage of western media and advertising have generally favorable attitudes towards western products suggesting that MNEs in Kazakhstan should continue their current marketing strategies towards Generation Y consumers. Whether other demographic groups in Kazakhstan or whether we see similar consumer behavior among Generation Y consumers in other emerging markets are important research questions that should be considered for future research.

Our executive insight comes from Heather Elms who provides an outstanding discussion on the state of corporate social responsibility (CSR) in Central and East Europe (CEE). Elms, an expert on CSR and founder of the Center for the Social Foundations of Business at Central European University in Budapest argues that in a market in which stakeholders place value on ethical behavior, corporate responsibility becomes endogenous. The paper’s main conclusion is that without stakeholder responsibility, corporate responsibility will not develop in CEE. However, it also suggests and describes multiple examples of developments in the region that will contribute to both. An interesting argument in that consumers, workers and owners all have responsibilities for promoting CSR in the CEE region.

Richard Linowes, Outstanding Professor of Undergraduate Programs at the Kogod School, American University, with his co-author, Mollie Brown Hupert, provides IJoEM with an excellent case study of how Panama tries to manage tropical waste. This case study is part of a much broader and ambitious program supported by the USAID that develops case studies from emerging markets. In the future, we aim to strengthen the relationship between Dr Linowes’ work and IJoEM.

Of course Issue 3 has papers from the leading emerging markets of India and China. Mahendra Raj and Damini Kumari’s paper tests the efficiency of the Indian Stock Market through a number of hypotheses. Weekday effects, day of the week, weekend, January and April effects are examined. The findings of the paper for the Indian Stock Market are that in fact standard seasonal/weekly effects are not present. The variance in seasonality in the Indian market as compared to the other developed markets implies that this market is not yet integrated with the other world markets and can provide a good portfolio diversification opportunity.

Chen and Toyama provide our China paper. Their study discusses the development of the semiconductor industry in China and analyzes it comparatively with current studies about the catch-up of latecomers in the newly industrialized countries of Asia (NICs). Using the case study approach, they examine the developmental path of the Chinese semiconductor industry and the catch-up experience of Huang Hong NEC in China. Their principle research question considers whether the Chinese semiconductor manufacturers replicated the experience of other NIC producers such as in South Korea. They find similarities with previous NIC producers but also note the changing industrial structure for semiconductors and the limited role of government policy in shaping the Chinese semiconductor industry’s future (unlike arguably their Korean counterparts).

Last but certainly not least, we have an exhaustive empirical literature review of the export issues facing SMEs from emerging markets by Tesfom and Lutz. Examining almost a quarter century of literature (1980-2004), The study provides a modified qualitative model that can be used by future researchers to further their research endeavor in export problems of firms from developing countries. It also identifies the similarities and differences of export problems in developed and developing countries. Of value to the researcher is that Tesfom and Lutz will help scholars in identifying the key issues in this area that are relatively well covered in the extant literature and those which are not. It may also serve as an invaluable reference for policymakers in their attempts to develop policy in emerging markets that promote the export activities of SMEs.

Our issue concludes with a book review of Oded Shenkar’s The Chinese Century.

Yusaf H. Akbar