Showing papers in "Journal of International Business Studies in 1975"
TL;DR: In this article, the forecasting accuracy of the "random walk" and other models of exchange rate behavior under present conditions of floating exchange rates is explored. But the authors present results consistent with the notion that, for the world's major currencies, the foreign exchange market is an efficient market and exchange rate forecasting is not profitable.
Abstract: This article explores the forecasting accuracy of the “random walk” and other models of exchange rate behavior Under present conditions of floating exchange rates, it is argued, anticipations of future demand and supply determine fluctuations in exchange rates The authors present results consistent with the notion that, for the world's major currencies, the foreign exchange market is an “efficient market” and exchange rate forecasting is not profitable
157 citations
TL;DR: In this article, the authors examined the motivation of U.S. electronics companies in establishing plants in less-developed countries for the manufacture of products to be exported to the United States.
Abstract: This paper examines the motivation of U.S. electronics companies in establishing plants in less-developed countries for the manufacture of products to be exported to the United States. The results of an analysis of trade statistics and interviews with executives are reported.
64 citations
TL;DR: In this paper, a methodology for determining the true costs of alternative sources of financing for the multinational corporation when the risk of exchange rate changes is present and different tax rates and regulations are in effect is presented.
Abstract: This paper presents a methodology for determining the true costs of alternative sources of financing for the multinational corporation when the risk of exchange rate changes is present and different tax rates and regulations are in effect. The cost formulas presented can then be used to calculate the cheapest financing source given the expected exchange rate changes.
29 citations
TL;DR: In this article, the authors explored the behavior of the foreign exchange markets for the floating rate period since 1973 and the immediately preceding fixed rate period and showed that the cost of forward cover and the gains from speculation in the forward market for the major currencies has not changed significantly between the two periods and, in fact, the forward rate has been an unbiased predictor of the future spot rate.
Abstract: This paper explores the behavior of the foreign exchange markets for the floating rate period since 1973 and the immediately preceding fixed rate period. The author presents evidence showing that the cost of forward cover and the gains from speculation in the forward market for the major currencies has not changed significantly between the two periods and, in fact, the forward rate has been an unbiased predictor of the future spot rate for the floating rate period.
24 citations
TL;DR: The authors examined the extent and quality of corporate financial disclosure among the largest publicly-held corporations in seven countries during the 1963 to 1972 period and concluded that the generalization of American superiority in annual report disclosure is a tenuous one at best.
Abstract: This article examines the extent and quality of corporate financial disclosure among the largest publicly-held corporations in seven countries during the 1963 to 1972 period. The evidence presented suggests that the generalization of American superiority in annual report disclosure is a tenuous one at best.
22 citations
TL;DR: In this paper, the authors present the results of a study concerned with the need satisfactions of Americans who are assigned to international managerial positions and indicate that regional location and prior international work experience influence the job satisfaction of overseas managers.
Abstract: This paper presents the results of a study concerned with the need satisfactions of Americans who are assigned to international managerial positions. The results of the study indicate that regional location and prior international work experience influence the job satisfaction of overseas managers. It is suggested that jobs in different parts of the world may be viewed differently because of previous international work experience, career aspiration and control exerted by the parent organization.
19 citations
TL;DR: In this article, the authors presented the results of an exploratory survey of the applicability of discriminant analysis to the determination of the medium-term (two-year) exchange rate changes, using a discriminant function developed on observations drawn from 1961-1964 and 1965-1968, the authors have correctly predicted the devaluation or nondevaluation of 86 percent of the countries tested for the period 1971-1972.
Abstract: This paper presents the results of an exploratory survey of the applicability of discriminant analysis to the determination of the medium-term (two-year) exchange rate changes. Using a discriminant function developed on observations drawn from 1961–1964 and 1965–1968, the authors have correctly predicted the devaluation or nondevaluation of 86 percent of the countries tested for the period 1971–1972. These results indicate predictive power at the .001 level of significance. A reduction of 36 percent in classification error is achieved by the method.
14 citations
TL;DR: In this paper, the authors suggest a new look at corporate pricing policies in developing countries and suggest that the price elasticity of demand curves in individual markets may be much greater than companies assume, and a shift to a low price/high volume may both increase profits and satisfy social needs to which host country governments are sensitive.
Abstract: This paper suggests a new look at corporate pricing policies in developing countries. Because of conditions discussed in the paper, the price elasticity of demand curves in individual markets may be much greater than companies assume. A shift to a low price/high volume may both increase profits and satisfy social needs to which host country governments are sensitive.
12 citations
TL;DR: In this paper, the authors emphasize the degree to which the polices of national governments, rather than anonymous market forces, conditioned the multinational spread of the largest Continental European Enterprises (CEE).
Abstract: The article emphasizes the degree to which the polices of national governments, rather than anonymous market forces, conditioned the multinational spread of the largest Continental European Enterprises.
8 citations
TL;DR: In this article, the authors contrast the approaches advocated by major power blocks for lessening the gap between the economic levels of industrialized and developing countries, concluding that the LDC's are seeking resource transfers favorable to them and the industrialized nations are willing to help but in ways that avoid undue harm to their internal economies and to the security of their direct investments.
Abstract: The authors contrast the approaches advocated by major power blocks for lessening the gap between the economic levels of industrialized and developing countries The LDC's are seeking resource transfers favorable to them The industrialized nations are willing to help but in ways that avoid undue harm to their internal economies and to the security of their direct investments Hopefully, negotiations rather than confrontations will be used to resolve the conflict
8 citations
TL;DR: In this paper, the minimum required return on reinvested earnings as the result of fiscal devices such as tax deferral, the foreign tax credit, and the special tax treatment of subsidiaries in less developed countries is investigated.
Abstract: Features of the U.S. taxation of the income of multinational corporations are shown to affect the minimum rate of return required on the unremitted profits of foreign subsidiaries. The article develops criteria that should be used by the firm as the minimum required return on reinvested earnings as the result of fiscal devices such as tax deferral, the foreign tax credit, and the special tax treatment of subsidiaries in less developed countries.
TL;DR: This paper examined the nature of undergraduate education in the U.S. and concluded that there is a great divergence among collegiate schools of business in the manner in which instruction in international business is provided.
Abstract: This article examines the nature of undergraduate education in the U.S. and concludes that there is a great divergence among collegiate schools of business in the manner in which instruction in international business is provided.
TL;DR: The 1974 curriculum survey for the Academy of International Business shows some departures in course offerings since the 1969 survey as discussed by the authors, with changes in AACSB accreditation standards, further evolvement is anticipated.
Abstract: The 1974 curriculum survey for the Academy of International Business shows some departures in course offerings since the 1969 survey. With changes in AACSB accreditation standards, further evolvement is anticipated.
TL;DR: The authors reviewed motivations for going beyond traditional business teaching material into the realm of films, memoirs, and novels, and made suggestions of specific examples of films and memoirs which have a place in teaching the international business environment in less developed countries.
Abstract: This article reviews motivations for going beyond traditional business teaching material into the realm of films, memoirs, and novels. Included are suggestions of specific examples of films, memoirs, and novels which have a place in teaching the international business environment in less developed countries. An extensive annotated bibliography of films, memoirs, and novels is provided.
TL;DR: In this paper, the authors describe the rationale and process of developing and initiating a Master in International Business Studies (MSIS) program. But they do not discuss the curriculum selection process.
Abstract: This article describes the rationale and process of developing and initiating a Master in International Business Studies.
TL;DR: In this paper, the authors present data on one input, the demand for higher level personnel in international business as reflected by advertisements, and present an analysis of advertisements providing information on only one dimension, albeit an important one, of the market for persons trained for international business.
Abstract: Conventional wisdom holds that every academic discipline should undergo continuous evaluation regarding curriculum, course content, and research focus. Many inputs could be used for such purposes: opinions of specialists (e.g., as revealed by surveys of university courses), consulting experience and research on international business problems. This note presents data on one input–the demand for higher level personnel in international business as reflected by advertisements. The methodology involved clipping advertisements of “positions available” in international business from The Wall Street Journal during the eighteen month period, October 1973 through March 1975. Then they were classified according to the qualifications specified. It should be noted that such advertisements tend to be for experienced persons rather than for newly graduated students. They do not indicate what the market looks for when recruiting students with training in International Business. Rather, such advertisements suggest what qualifications will be needed for advancement in the international activities of firms so long as future business requirements continue the same as at present. In other words, an analysis of advertisements provides information on only one dimension, albeit an important one, of the market for persons trained for international business. Attention also should be given to trends in international business problems and activities that, in the future, may create a demand for different skills than at present. One can list other methodologies needed.