Фактори на окружувањето и нивното влијание на перформансите на мултинационалните компании, како основа за унапредување на деловната клима во Р. Македонија

Abstract

Environmental factors have a significant impact on international economic activities, especially on the activities of multinational companies. However, in addition to the environmental factors, the performance of multinational companies is also affected by certain variables. This doctorial thesis deals with the environmental factors and variables that have an impact on the performance of multinational companies. Structurally, it consists of six chapters that analyze different environmental factors and variables. The opening chapter gives a brief description of the nature of multinational companies and the importance of evaluation of their performance, with particular emphasis on the relation between responsibility accounting and the performance of multinational companies, and the distinction between the performance of subsidiaries and the performance of their managers. Also, it analyzes in detail the performance measures and main issues of performance evaluation of the subsidiaries and their managers. The second chapter is dedicated to the environmental factors and their impact on the performance of multinational companies. It shows and analyzes in details the most important economic, legal, political, sociocultural and technological environmental factors. The third chapter analyses the transfer pricing, as a variable that has an impact on the performance of multinational companies. It thoroughly explains the nature of transfer pricing, the different methods of transfer pricing and the selection of an appropriate one, giving particular attention to the Arm’s Length Principle and the Internal Revenue Code of the United States. The fourth chapter is dedicated to inflation and its impact on the performance of multinational companies. It minutely explains the nature of inflation and its impact on the performance of multinational companies, the separate approaches and methods for adjusting the financial statements of foreign subsidiaries to reflect the inflation effects and the selection of a relevant method, by giving a particular emphasis on the international approaches in the anticipation of inflation. The fifth chapter deals with exchange rate and its significant impact on the performance of multinational companies. It pays special attention to the types of exchange rate exposure, the separate financial statement translation methods of foreign subsidiaries and the selection of a relevant method as well as the international efforts for translation of financial statements of foreign subsidiaries. The last chapter shows the importance of environmental factors and variables on the performance of multinational companies which operate in the Republic of Macedonia and gives certain recommendations for improving the business climate in the country. If multinational companies want to perceive their real performance, they need to take into account the impact of all environmental factors and variables when assessing the performance of foreign subsidiaries and their managers.