Transition Probabilities Across Firm Categories


02 Nov 2017

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The content of this will form the backbone of the research’s methodology. The book provides insights into the methods and techniques of conducting methodological and systematic research.

Thomas L. Friedman, The World is Flat: A brief History of the Twenty-first Century, 2005.

The author of this book uses the concept of a worldwide level playing field to explain how individuals, companies, and nations will marshal collaborative technologies, primarily the Internet, to advance in a landscape no longer impeded by regional, national, and political boundaries. The companies, which are the subject of this research, will also be exposed to the rapidly changing business environment at global scale and will need to adapt accordingly.

Paul K. Ward, Making a strong case for going global: A Framework for Analysis, Journal of association leadership, 2006.

The article focuses on the approach adopted in building a business case taking into consideration variations in the risk –adjusted rates of return. In this approach the management and the measurement tasks are broken risks and opportunities in the global markets also it adopts a method that the company`s needs of sustainable revenue and growth is taken into consideration.

George S. Yip, Die Globale Wettbewerbsstrategie: weltweit erfolgreiche Geschäfte [1] , 1996

This book provides a guide to businesses for developing a global business strategy, including issues of integration of businesses into the global business platform

Theodore Levitt (1989) has authored many books and articles on internationalization and expresses that countries still want to be recognized as different and expect other to respect their individuality of culture, yet at the same time insist wholesale transfers of modern goods and technology.

Demirbas et al. (2010) calculated the chances of the globalization status of a firm changing from year to year and developed the following Transition Matrix

Fig XX. Transition Probabilities across Firm Categories

Source- Demirbas et al. (2010), National Institute of Public Finance & Policy, New Delhi

This examination of transition probabilities has three key implications. First, internationalization is relatively 'sticky'; firms tend not to flit around these categories. Second, D firms rarely jump directly to DXI. The process of graduating to globalization generally involves first achieving DX status. Third, the progression towards internationalization is not inevitable. Many firms drop down from DXI to DX and from DX to D.

The observations of their research with respect to globalization were as follows:

Firms in the electricity industry have the lowest proclivity for internationalization.

Firms with lesser tangible assets are more likely to internationalize.

Firms with greater investments in knowledge are more likely to internationalize.

Firms which earn a higher return on equity appear to be slightly less inclined towards internationalization.

Younger firms are more likely to internationalize.

Helpman et al. (2004) predict that more productive firms export and the most productive firms do outbound FDI.

Forrester Consultancy points out that in response to the pressures of globalization, corporations must develop a networked worldwide business model based on flexible technology architecture. Firms must adopt the right business models to drive their global transformation. Companies should give up being vertically integrated and move to an ecosystem of global partners

REN21's Renewable Global Status Report (GSR), 2012

The REN21's Renewable Global Status Report (GSR), 2012 studies overall impact of the stable increase in the growth of energy markets, its support policies and investment in the yester years. It gives a evidences of the positive outlook towards the growth of fuel, electricity and heat production capacitates by using renewable sources of energy including Solar PV, Wind, Solar hot water heating, bio-fuels , hydro and geo based energy.

Clean Energy Trends 2012 Report - Clean Edge, Inc

The report focuses on the solar, wind and bio-fuels markets, analyzing its size, production forecasts. It further analyzes in detail the Solar PV installations, its pricing, venture capital funding and the public markets. This report series holds a very strong position in the clean energy research initiatives.

RE-thinking 2050, A 100% Renewable Energy Vision for the European Union, by European Renewable Energy Council.

The report examines the effects of the Europe`s energy supply systems on carbon dioxide emissions and provides a road map for achieving a 100% renewable energy system for the European Union. It not only focuses on providing the policy recommendations towards exploiting the renewable energy capacities but also portrays the economic, social and environmental benefits of adopting such a system.

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The report investigates the private sector financing process involved in the developing countries, further focusing on the issues faced by these venture capital agencies in the year 2008-2009. It provides a platform for understanding the intricacies involved in scaling up investment in the renewable energy space. The study revolves mainly around scaling up of available RE technologies than on the early stage technology enhancement.

Ernst & Young Renewable Energy Country Attractiveness Indices - Ernst & Young, May 2012

In this report Ernst & Young environmental finance team provides with ranking of the suitability of the individual technologies vis-à-vis national energy markets. It suggests the country attractiveness index, which ranks relative attractiveness of renewable energy markets i.e. forty countries across selection of technologies every quarter.

IEA: Deploying Renewables in Southeast Asia by Olz and Beerepoot 2010

This report focuses on the ASEAN – 6 countries and the studies the scope and the possible barriers in scaling up renewable energy technologies in the heating, transport and electricity sectors. In addition to examining the possible ways of overcoming the noneconomic and economic barriers that reduces the investment levels it also examines the implications of policies on the market. The report also provides with policy recommendations to exploit the benefits offered by the renewable energy space in the south Asian countries.

Global Wind Energy Council: Global Wind Report 2011 - Annual market update

This report focuses on the wind energy markets from across the globe. It gives an overall picture of the global industry in 75 countries which includes 21 of them having more than 1000MW of installed capacity. Other areas discussed in the report include future projections and trends for 2012-2016, broad overview of the global offshore and the role played by public finance.

Eric Martinot, Renewable Energy Futures: Targets, Scenarios, and Pathways.

This research report explains the IEA model and the BE Method which can be used in measuring the share of primary energy from renewable sources. It also investigates the future contribution of the primary energy, electricity, heating and transport vis-à-vis policy aims and diverse scenarios.

International Energy Agency: Case Studies in Sustainable Development in the Coal Industry

This publication explores the various objectives of the coal industry i.e. achieving environmental standards in a cost effective manner, technology transfer, collaboration across the value chain are also the issues which government can approach in a positive manner. This can be done in consultation with the industry so that coal succeeds in playing a long term role in the sustainable development.

European Solar Thermal Industry Federation (ESTIF): Solar Thermal Action Plan for Europe, ESTIF, 2007

The Solar Thermal Action Plan for Europe (STAP) analyzes the solar heating and cooling polices. It investigates the current and potential barriers to growth and also elaborates as to how an appropriate mix of policy measures if adopted could lead to removal of these barriers. Highlight of the report is the concrete guidelines provided on the five key issues.

American Council on Renewable Energy (ACORE): The Outlook on Renewable Energy in America 2007.

This report provides a series of outlooks with respect to the future of renewable energy sector in USA. It records key insights from the range of presentations which were given at the Phase II policy conference on November 30, 2006 in Washington DC. Research initiatives have been taken in the areas such as Government & Institutional Outlook, Industry Outlook and Upside Potential.

Eric Martinot et al , Renewable Energy Markets In Developing Countries.

This report investigates the markets and installations of five core energy applications in the developing countries. The applications consist of rural lighting, productive uses, cooking/ hot water, transport fuels and power generation. It also suggests key insights and learning with respect to market facilitation, consumer credit, and sector policy and enterprise development.

Eric Martinot, World Bank: Renewable energy investment by the World Bank, 2001.

This paper analyzes the opportunities and barriers in implementing fuel for thought strategies. The paper differentiates between agendas and in rural development and energy sectors. It also reviews the limitations to the implementation of these agendas.

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This study gathers it input from the key stakeholders in the renewable energy space in South Africa. This paper offers unique ways of looking at the financing challenges being faced by the industry and also proposes innovative frame work to help stakeholders in structuring financing for their ventures in the renewable energy space.

North Carolina Renewable Energy & Energy Efficiency Industries Census 2009

This report primarily aims at studying the employment estimates produced by national studies in the energy and energy efficiency industries. The broad area of this research circumscribed to electric generation and employment.

Assessing Domestic Renewable Energy Markets, the Ad Rem Project

This report focuses on the capital structures that can be used to finance wind and solar energy projects. The economic feasibility of the projects is investigated in order to establish the overall profitability. It includes investigation in multiple areas such as tax considerations, legal mandates, costs and development and maintenance. The scope of this study is limited to Pikes Peak / Colorado region.

Sustainable Energy for All: Opportunities for the Renewable Energy Industry by UN Global Compact and Accenture

This report focuses on achieving a win-win scenario for companies, i.e. on one side adhering to the advance objectives of energy access, energy efficiency and renewable energy but also at the same time due importance given to creation of business value. Thus on a broad note it unveils the opportunities in the sustainable energy space.

Simone Borghesi et al, Sustainable globalization and energy.

This paper discusses whether and to what extent the recent developments in energy consumption are compatible with the requirements of sustainable globalization. For this purpose, we first critically discuss the conventional position on the market capacity to resolve spontaneously the problems of energy scarcity and pollution, pointing out some important shortcomings that may affect this optimistic approach.

Energy Sector Market Analysis sponsored by the Weatherization and Intergovernmental Program (WIP).

The paper investigates the results of energy sector market analysis. The analysis have a structure that identifies specifically those markets and niches where government can have a greatest impact by improving the management decision in both public as well as private capacity.

Privatization and the Globalization of Energy Markets, Energy Information Administration, US Energy Department.

This report analyzes the evolution of multinational & multidimensional energy companies and the impetus to their growth which that they have received from the privatization efforts undertaken in petroleum, electricity and coal.

Market Analysis Report: China’s Renewable Energy Industry - IEICI.

This report investigates as to how China has managed to achieve notable success, in the wind, solar and bio-fuel energy sectors. It also analyzes the kind of support these sectors get from the government like, financial subsidies, preferential tax policies and other facilitating measures.

Michel Lemagnen, A unique business intelligence study on future international investment trends of renewable energy technology companies, Oxford Intelligence.

This business intelligence study provides a strategic overview of the global corporate investment strategies of renewable energy technology companies and the key drivers affecting international location choices. It also offers invaluable insight into the perceived value and role of economic development agencies in international renewable energy projects.

The Potential for Renewable Energy in India- 2012, Gyan Research & Analytics Pvt. Ltd

This report briefly analyzes the investment potential in the renewable energy sector of India. It also focuses on the factors driving the industry change in the renewable energy domain.

Globalization and Energy Supply: Strategic Risk in the 21st Century, Deloitte Research.

The research deals with the questions about globalization and energy supply, which creates a profound need for methods of making decisions and managing risk. This allows companies to leverage uncertainty to their benefit rather than avoiding, ignoring, or denying it.

Renewable Energy Future for the Developing World, ISES international solar energy society

This white paper presents a rationale for effective policies in the renewable energies circumscribed to developing countries. It also provides sufficient information to make appropriate and responsible energy policy decisions with the framework of sustainable development.

Mark Cerasuolo, Solar Energy Could Solve Developing Nations' Infrastructure Problems, AOL, November 1, 2012

The article presents a solution to energy problem faced by many of the developing nations like India. Solar energy could bring impetus to the government`s effort of making uninterrupted energy supply its population. Government of India is promoting state utilities to leverage their capacities to the maximum by giving them a chance to trade the renewable energy credits.

India seeks Spanish investment in NMIZs, The Hindu, Business line, October 26 2012.

The article mentions about India seeking for better business cooperation from Spain, in sectors such as IT, renewable energy and agro-processing. Spanish renewable energy giants would get a change to leverage their strength and capitalize the underlying potential in the sector of renewable energy.

Uttara Choudhury, Virginia Tech to help India harness solar, wind energy, First Post, October 3, 2012

The article talks about the new initiative undertaken by Virginia Tech wherein it will be opening research centre in Tamil Nadu and will rally a team of engineers adapt as well as refine solar panels and wind mills for providing electricity to the households in the rural parts of India. It aims towards mass producing solar panels and windmills, testing them in the rural areas and deploying to create low-cost energy. This venture is a joint effort between Virginia Tech and private-sector partner MARG Swarnabhoomi

India to collaborate with the Swiss in renewable energy sector, Economic Times, Oct 19, 2012.

The article discusses about the collaboration prospects between the Indian and Swiss companies on the renewable energy front this was discussed in a meeting between Swiss Head of Federal Department of Environment, Transport, Energy and Communication Doris Leuthard and New and Renewable Energy Minister Farooq Abdullah. Swiss ministry is positive about European companies investing in renewable energy sector in India. (Check for CP)

India to be among top energy importers; Reddy, India Blooms News Service, October 2012.

The article explains as to why Energy security is a greater challenge today than ever before for India and elaborates on some of the major reasons. Many critical findings are stated in the article for example, coal energy demand in India may constitute to be around fifty percent of the total energy demand thus doubling the coal consumption by 2050, availability of domestic gas may constrain the use of gas power. Some of the major steps in order to improve the energy landscape in India are, to ensuring sufficient and efficient monetization of India’s domestic reserves of coal, oil, gas and renewable resources, making major strides in global energy cooperation, putting efforts in managing the demand side management and the energy efficiency area.

Renewable energy investments rise globally, India posts 62% growth. Investments highest in solar power followed by wind energy, Press Trust of India / Washington Oct 11, 2012.

The article explains the growth story in terms of investment in the renewable energy space across countries. Some of the interesting facts mentioned in the article include, USA scored 57% growth in the investment vis-a-vis renewable energy over 2010 levels, higher than all the countries except India registering 62% of growth. In the total national renewable energy investment, USA ranked second ($50.8 billion) followed by Germany ($31 billion).

India asks Sweden to provide more market access for its products, The Economic Times, October 30, 2012.

The article focuses on the understanding the scope for increasing the cooperation in the areas like infrastructure, modern technology, telecommunication, bio-technology, environment and renewable energy between Sweden and India. As Sweden is strong in its traditional skill development models and as showcases strong linkages between the academia, industry and skill institutions, India will try to adopt its best practices.

India seeks Israeli expertise in renewable energy sector, The Hindu Business line, October 24, 2012.

The article discusses about the government of India`s aim to produce larger hydro based renewable energy. As considerably huge number of Indian households doesn’t have access to continuous energy supply, India seeks help from Israeli experts in achieving its ambitious plans to generate another 30,000 MW of grid-connected projects by 2017, which would take the country to 55,000 MW from renewable sources of energy.

EU delegates due to visit India to explore energy, bio tech opportunities. The Economic Times November 2, 2012.

The article discusses about the enthusiasm shown by the EU delegates to explore investment opportunities in the renewable energy sector. EU delegates are coming to India with an intention of creating alliances and partnerships to adopt innovation. 2012 is going to prove as a very crucial year for the Indian renewable energy space, as the 6th Renewable Energy India Expo 2012, is being held in New Delhi. It’s going to be a great platform for companies to showcase clean technologies also forums such as Clean 2020 will focus on the policies, challenges, financing strategies and overall deployment of clean tech.

Peerzada Abrar, Youngsters bringing in innovations in renewable energy; new techs are reducing dependence on fossil fuels. The Economic Times November 1, 2012.

The article talks about a 25-year-old Abhishek Humbad`s startup NextGen, which turns organic waste into energy and fertilizer. Teaming up with Mahindra & Mahindra, Abhishek Humbad`s initiative has become the largest gen-set provider to telecom towers in India. The senior vice president of M&M and business head of Mahindra Powerol said, "The technology is good, there is a big possibility that, it can be a game changer, "We are very bullish." Though it’s a big bet for a giant like M&M to get associated with a startup as one can’t afford to let the tower go down even for a millisecond, industry experts are optimistic towards this new technology as the government pushes telecom companies to go green to reduce the industry`s carbon footprint and its dependence on diesel.

Wind energy industry seeks incentive - Business Standard Chennai October 27, 2012.

The article considers the various challenges faced by the Wind energy industry in India. It includes challenges such as absence of proper incentives. Indian Wind Energy Outlook 2012 to be held is expected to discuss these issues such as absence of generation-based incentive (GBI) and benefits coming from accelerated depreciation and also discuss the development in this space. The industry unanimously agrees that Generation based incentives and accelerated depreciation would be key drivers of growth for the Indian wind energy sector.

Indo Rama to enter renewable energy business, Livemint October 17 2012

The articles discusses about India’s second-largest polyester manufacturer, Indo Rama Synthetics (India) Ltd`s entry in the Indian renewable energy sector. It is venturing with 30MW wind turbine project and increasing up to 100MW in the next two years. Even though the steps taken by the company seems more to be as hedging efforts, the renewable energy sector is quite lucrative and attractive for the big and the small of the industry.

Renewable energy investments grow globally; India reports sharpest surge - The Economic times October 11, 2012.

The article investigates investments in the renewable energy space across various countries. New investments in renewable energy and fuels reached USD 257 billion worldwide in 2010. India experienced the sharpest surge while China attracted largest amount i.e. 52.2 billion. The investment in the Indian scenario grew by 62 percent, becoming the highest growth rate in the year 2010.

Alaeddine Mokri, Proving that solar power can help meet the UAE's energy needs. The National, November 4, 2012

This article discusses as to how UAE`s solar projects will help in achieving the overall goals of sustainable energy. UAE is famously known as the Sun Belt, being the middle region of the globe it is most exposed to the sun. The article suggests that some of general beliefs may prove wrong; like solar modules may perform consistent even in the high temperatures and humidity, while assumed the other way round. It was also concluded that solar energy could be quite effective economically as well as environmentally if used for desalinating water than natural gas.

Renewable energy will overtake nuclear power by 2018. – The Guardian, 30 October 2012

The articles discusses about the possibility of renewable energy taking over nuclear power in the UK by 2018. Considering the current state of growth, renewable energy would be the source of power for one in 10 British homes by 2015. Wind energy issue has always been hot in the British politics, John Hayes, conservative energy minister has been an outspoken critic of the wind farms. Though some politicians showed opposition against wind power, there has been rise in the onshore wind capacity which was approved in 2011 for the first time since 2008. The fact that in 2011 there were at least 137,000 people involved in this sector along with further 654500 jobs in the ancillary industries provides a testimony to the critical position this sector holds in the country.

Leslie Hamilton, Philip Webster, The International Business Environment, 2012, Oxford University Press



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