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Rule 382 of the New York Stock Exchange for many years has governed the relationship between clearing and introducing brokers with a focus on responsibility to the client. This article surveys the subtle and not so subtle changes impacting these relationships, with a view toward future trends.

Technological innovation is a major competitive input that directly translates into long‐term competitive advantage. Presents the results of research that examines innovative activity by country, based on several measures of technological performance. The patterns of inventiveness reported reflect present product development activities that will in the future directly impact the ability of a country to bring unique and high value‐added new products to market. Develops a taxonomy that suggests that there are distinctively different patterns of inventiveness by country. Discusses marketing implications of the taxonomy and proposes future research.

This study examined the relationship between the headquarters and the foreign subsidiaries of multinational corporations (MNCs). Hypotheses concerning the strategies pursued by each MNC, intergroup conflict, conflict management styles, integrating mechanisms, and the effectiveness of the headquarters‐subsidiary relationship are developed and tested. There were no significant differences in the intergroup conflict experienced by subsidiaries pursuing different international strategies. However, effectiveness of the headquarters‐subsidiary relationship was negatively related to intergroup conflict. The use of the avoiding style of conflict management was negatively related to the effectiveness of the headquarters‐subsidiary relationship, as hypothesized. For MNCs pursuing global integration strategies, the use of personal integrating mechanisms and integrating conflict management styles were negatively related to intergroup conflict. For MNCs pursuing local responsiveness strategies, the use of bureaucratic integrating mechanisms and dominating conflict management styles were not negatively related to inter‐group conflict. This ran counter to expectations. MNCs pursuing multi‐focal strategies did not fit neatly into either strategy camp—global integration or local responsiveness.

The study of international business has become increasingly important in recent years. So important that the American Assembly of the Collegiate Schools of Business (AACSB) has called for the internationalisation of business curricula. In 1992 and beyond, successful business people will treat the entire world as their domain. No one country can operate in an economic vacuum. Any economic measures taken by one country can affect the global economy. This book is designed to challenge the reader to develop a global perspective of international business. Globalisation is by no means a new concept, but there are many new factors that have contributed to its recently accelerated growth. Among them, the new technologies in communication and transport that have resulted in major expansions of international trade and investment. In the future, the world market will become predominant. There are bound to be big changes in the world economy. For instance the changes in Eastern Europe and the European Community during the 1990s. With a strong knowledge base in international business, future managers will be better prepared for the new world market. This book introduces its readers to the exciting and rewarding field of international management and international corporations. It is written in contemporary, easy‐to‐understand language, avoiding abstract terminology; and is organised into five sections, each of which includes a number of chapters that cover a subject involving activities that cross national boundaries.

This chapter describes a method to analyse agricultural land use in terms of net value added and employment (working time requirement) in the agricultural sector as well as a corresponding ecological indicator: the nitrogen-leaching-rate. Watershed management demands a basic approach, which deals with common statistics and spatial information from digital maps. This causes a range of uncertainties, which are calculated in relation to the data input. A metamodel derived from a process model calculates the most probable value of the ecological indicator, whereas the economic indicators are estimated by the cumulative numbers of primary production. The uncertainties are expressed as the standard deviation of all impacts as percentages. The method described is applied to a rural district in the Elbe river basin.

The performance effects of product‐market and international diversification were examined in a sample of 156 U.S. corporations. Three sets of performance measures were used: (1) profitability, (2) risk‐adjusted returns, and (3) growth. Results suggest independent effects on profitability, and interactive effects on risk‐adjusted returns and growth. Results also clarify seemingly conflicting findings on product‐market and international diversification effects on performance.

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.

The history of international business has generated a growing literature. Over the AIB's fifty years, scholars associated with AIB have contributed to this literature but it has been a far broader one. This chapter surveys a sample of the wide variety of works on the history of multinational enterprise, published from the 1950s onward. The works are not only in business history but also in diplomatic and legal history. The literature makes it clear that the multinational enterprise has a long history and is far from a post-World War II or post-1989 phenomenon. The chapter shows the variety in the accumulation of studies in business history directly related to international business as well as the forums where business historians present their findings. It considers why and how international-business history matters for international-business research.

International business theory leans heavily on neoclassical economics, ignoring its unrealistic assumptions and the many changes in the environment. The chapter calls for a revision of the theory to a contingency theory. The major contingent elements analysed are the political system, business–government and NGOs relations, industries, regimes, ownership patterns, the degree of reliance on ethical behaviour, the institutional environment and social norms.