Dear colleagues and friends,
Allow me to share with you the abstracts of the papers published in the current issue of the Journal of East-West Business.

Volume 24, 2018

Crisis Management Across Borders: Effects of a Crisis Event on Consumer Responses and Communication Strategies in Norway and Russia
Alexander Jakubanecs, Magne Supphellen, James G. Helgeson
This research examined the impact of a crisis on product attitudes and emotions of consumers in Norway and Russia, and the effectiveness of crisis marketing communication using authority endorsement across and within the two countries. Our research shows that not only are different communication strategies effective in the two markets, but also that those that work well in one country may actually worsen the crisis and lead to more negative attitudes and emotions in the other country. We conclude that research needs to incorporate country-level, individual-level dimensions of culture and consumer emotions in order to develop optimal marketing communication strategies.

Accounting Quality in Eastern Europe after Communism
Frederick Lindahl & Hannu Schadéwitz
This study, in the taxonomy of Schiehll and Martins (Schiehll, E. and H. C. Martins. 2016), examines cross-national corporate governance, within their "legal" category. It rests on the understanding that to fully grasp corporate governance it is essential to understand the embedded institutions. The research question is: Does an increase in legal quality cause an associated increase in the quality of corporate governance in the form of financial reports to investors? If so, this supports the fundamental importance of legal systems to earnings quality. Reliable evidence on whether there is an association between legal quality and financial reporting quality would be an empirical association showing that where legal quality is higher, earnings quality is also higher, and conversely. The results show clearly that in 2005 and 2010, when adequate data are available for testing, earnings quality is poor: far more companies show small gains than small losses. There is little evidence of small gains exceeding small losses in the Baltics, greater differences in the Visegrád countries, and big differences in southern Europe.

Market Development Determinants for Corporate Bonds in National Currencies: Emerging Markets Review
Tamara V. Teplova & Tatiana V. Sokolova
Our paper offers analysis of tendencies and determinants of development of local currency corporate bond markets in the period from 2006 to 2015. We consider a wide range of macroeconomic and institutional factors for 15 bond markets. The sample consists of 600 country-quarter observations. Multifactor linear regression models and the generalized method of moments are applied for the balanced panel data. Our analyses reveals that inflation and its stability, exchange rate, and market capitalization have a significant influence on the share of local currency bonds. Financial and macroeconomic instability stimulates the growth of local currency bond markets.

Prof. Dr. Desislava Dikova
WU / Vienna University of Economics and Business, IB Institute
Editor in Chief, Journal of East-West Business
Area Editor, International Journal of Emerging Markets
Welthandelsplatz 1, D1, floor 5
A-1020 Vienna, Austria
Tel: + 43 1 313 36 / 5480; + 43 676 821 35 480
Fax: +43 1 313 36 / 905015
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