Export

Summary

An export in international trade is a good produced in one country that is sold into another country or a service provided in one country for a national or resident of another country. The seller of such goods or the service provider is an exporter; the foreign buyers is an importer. Services that figure in international trade include financial, accounting and other professional services, tourism, education as well as intellectual property rights. Exportation of goods often requires the involvement of customs authorities. For any firm, Global expansion strategies may include: Franchising, Turn Key Project, Export, Joint Venture, Licensing, Creating an owned subsidiary, Acquisition, Merger, etc. Exporting is mostly a strategy used by product based companies. Many manufacturing firms begin their global expansion as exporters and only later switch to another mode for serving a foreign market. There are four main types of export barriers: motivational, informational, operational/resource-based, and knowledge. Trade barriers are laws, regulations, policy, or practices that protect domestically made products from foreign competition. While restrictive business practices sometimes have a similar effect, they are not usually regarded as trade barriers. The most common foreign trade barriers are government-imposed measures and policies that restrict, prevent, or impede the international exchange of goods and services. International agreements limit trade-in and the transfer of certain types of goods and information, e.g., goods associated with weapons of mass destruction, advanced telecommunications, arms and torture and also some art and archaeological artifacts. For example: Nuclear Suppliers Group limits trade in nuclear weapons and associated goods (45 countries participate). The Australia Group limits trade in chemical and biological weapons and associated goods (39 countries). Missile Technology Control Regime limits trade in the means of delivering weapons of mass destruction (35 countries).

Official source

https://en.wikipedia.org/wiki/Export

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Coarse and Fine Particulate Organic Matter Transport by a Fourth-Order Mountain Stream to Lake Bourget (France)

Guillaume Gilbert René Cunillera

Transport of coarse particulate organic matter (CPOM) derived from forest litterfall has been hardly studied in rivers, unlike fine particulate organic matter (FPOM) or dissolved organic matter (DOM). Yet, many rivers are dammed or run into lakes, and there is growing evidence that CPOM accumulation in river delta participates substantially in ecological processes such as greenhouse gas emissions of lakes and reservoirs. We investigated the transport of CPOM and FPOM by the Leysse River (discharge from 0.2 to 106 m(3) s(-1)) to Lake Bourget (France) in relation to aerial litter deposition, river network length, and discharge. Over a 19-month study period, the volume-weighted mean CPOM and FPOM concentrations were 1.3 and 7.7 g m(-3,) respectively. Most CPOM and FPOM transport occurred during major flood events, and there were power relationships between maximum discharge and particulate organic matter (POM) transport during these events. The annual export of CPOM (190 t AFDM) was 85% of the litter accumulation in autumn on permanent sections of the riverbed (224 t AFDM), which suggests that export is a major process compared to breakdown. Export of CPOM was 1.25 t yr(-1) km(-2) of the forested catchment area. This study highlights the need to account for long-range CPOM transport to describe the fate of litter inputs to streams and to quantify the organic matter input and processing in lakes and reservoirs.

MDPI2021

SO2, which is one of key components that can deteriorate the environment, can be relocated by international trade. Based on the EORA, the EDGAR databases and input-output model, this study calculated China's SO2 emissions caused by import and export, and presented a method to exhibit China's export-related SO2 footprint at a high resolution. The results showed that export generated more SO2 emissions than import, and the two both increased rapidly since 1990, but decreased in 2008 and 2010, respectively. Both importand export-related SO2 emissions were concentrated more in undeveloped regions and several developed countries. High percentage of China's export-related SO2 emissions were mainly observed on the secondary industry activities. The percentages for most sectors increased before 2005 and decreased in 2015. Spatially, the export-related emissions decreased obviously from the southeast to the northwest within China. China's export-related SO2 emissions showed an increasing trend overall during 1990-2012. Areas with increasing emission trends were mainly concentrated in areas where the secondary industries were concentrated, such as the North China Plain. Both the increasing and decreasing areas showed highly significant changing trends. The east and south showed intensive distributions of the highly significant changing trends.

ELSEVIER SCI LTD2020

This thesis contains four chapters, each of which utilizes new or unusual data sources to analyze a different area of financial economics. In the first chapter, I construct a novel dataset linking individual bankers to large borrowers in the U.S. syndicated loan market to analyze the impact of bankers on bank lending. I find that time invariant banker fixed effects have at least as much explanatory power as bank fixed effects across key loan outcome variables. One channel through which bankers impact lending is through personal relationships with borrowers. I address the endogenous nature of relationship formation by exploiting shocks to relationships from the departure of bankers and find that stronger personal relationships are associated with significantly lower interest rates charged to clients. Reduced interest rates of relationship loans reflect superior information of bankers, rather than nepotism. Loans issued by bankers that have stronger personal relationships with borrowers are associated with fewer bankruptcies and no more beneficial terms upon renegotiation. The second chapter, which is joint work with Stefano Colonnello, exploits a U.S. Supreme Court ruling on diversity of citizenship in legal disputes to estimate the contribution of the court system to firm value. In an event study, we find that an increase in state court quality from bottom to top tercile is associated with an average increase in equity value of 0.45%, or about $8.7 million on the event day. This effect appears to be driven by courts¿ attitude towards businesses more than by their competency and is more pronounced for firms in industries with high litigation risk. We also test whether firms benefit from the ability to steer lawsuits into friendly courts, so called forum shopping. We provide evidence that a reduction in firms¿ ability to forum shop decreases firm value, whereas a reduction in plaintiffs¿ ability to forum shop increases firm value. We further document that the ruling had significant real effects. Firms which previously stayed out of regions with potentially problematic courts subsequently increased their operations in those regions. The third chapter is coauthored with Matthias Effing, Rüdiger Fahlenbrach, and Philipp Krüger and examines the impact of a sudden home currency appreciation on the valuation and behavior of corporations in a developed economy. The Swiss National Bank surprisingly repealed the minimum exchange rate of 1.2 Swiss francs per Euro on January 15, 2015. On that day the franc appreciated by 15% and the main stock market index dropped by 8.7%. The impact was largest for export oriented firms with high domestic costs. These firms experienced 5% lower announcement returns, subsequently faced economically sizeable reductions in sales and profitability, and responded by reducing investment by 8.1% while only slightly reducing employment. In the fourth chapter, which is joint work with Cornelius Schmidt and Aksel Mjøs, we exploit exogenous shocks to the distance between corporate borrowers and banks to analyze the role of distance in commercial bank lending. We find that a reduction in travel time due to improved infrastructure increases the likelihood of initiating a new borrowing relationship, evidence that closer distance creates a surplus from lower transaction costs. In existing lending relationships, however, banks capture a fraction of this surplus by increasing interest rates.

EPFL2017