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Aim of the present monograph is the economic analysis of the role of MNEs regarding globalisation and digital economy and in parallel there is a reference and examination of some legal aspects concerning MNEs, cyberspace and e‐commerce as the means of expression of the digital economy. The whole effort of the author is focused on the examination of various aspects of MNEs and their impact upon globalisation and vice versa and how and if we are moving towards a global digital economy.

A capital budgeting decision procedure appropriate for choosing the continuance, replacement, or abandonment of an asset‐in‐place is examined. The optimal replacement decision on an asset already in service requires simultaneous consideration of project life, project chaining, and possible abandonment points for both the asset‐in‐place and the replacement asset. The additional information required for the suggested procedure over the traditional replacement procedure is generally manageable and a practical solution procedure is feasible.

A defining feature of international business is the necessity for people from diverse cultural backgrounds to interact and collaborate but intercultural interaction is difficult and may give rise to disagreement and conflict. I have been working on the dynamics that promote positive intercultural interaction in the international business context, and two streams of my research, one empirical and the other conceptual, are reviewed here. The first stream is concerned with fairness issues surrounding the pay disparity between locals and expatriates in multinational enterprises operating in China, which has implications for MNC operations in other emerging economies. My research has shown that the pay disparity is associated with negative reactions from local employees but some management practices associated with the relationship between locals and expatriates, attributions made by locals, and salient norms about the pay disparity can buffer such negative reactions. In this research program, the focus is not on the actual interaction between locals and expatriates. To address this gap, a conceptual framework is presented, which provides insight about the factors that contribute to positive interaction between locals and expatriates. This paper ends with implications for future research on intercultural interaction in the MNC context.

First, AIB conference themes have reflected the issues thought to be important during its 50 years of operations, and the Fellows have regularly staffed Plenary Sessions devoted to these yearly themes (e.g., Eden & Lenway, 2001 on globalization).