Search results

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.

Investigates the differences in protocols between arbitral tribunals and courts, with particular emphasis on US, Greek and English law. Gives examples of each country and its way of using the law in specific circumstances, and shows the variations therein. Sums up that arbitration is much the better way to gok as it avoids delays and expenses, plus the vexation/frustration of normal litigation. Concludes that the US and Greek constitutions and common law tradition in England appear to allow involved parties to choose their own judge, who can thus be an arbitrator. Discusses e‐commerce and speculates on this for the future.

The Bureau of Economics in the Federal Trade Commission has a three-part role in the Agency and the strength of its functions changed over time depending on the preferences and ideology of the FTC’s leaders, developments in the field of economics, and the tenor of the times. The over-riding current role is to provide well considered, unbiased economic advice regarding antitrust and consumer protection law enforcement cases to the legal staff and the Commission. The second role, which long ago was primary, is to provide reports on investigations of various industries to the public and public officials. This role was more recently called research or “policy R&D”. A third role is to advocate for competition and markets both domestically and internationally. As a practical matter, the provision of economic advice to the FTC and to the legal staff has required that the economists wear “two hats,” helping the legal staff investigate cases and provide evidence to support law enforcement cases while also providing advice to the legal bureaus and to the Commission on which cases to pursue (thus providing “a second set of eyes” to evaluate cases). There is sometimes a tension in those functions because building a case is not the same as evaluating a case. Economists and the Bureau of Economics have provided such services to the FTC for over 100 years proving that a sub-organization can survive while playing roles that sometimes conflict. Such a life is not, however, always easy or fun.

Many jurisdictions fine illegal cartels using penalty guidelines that presume an arbitrary 10% overcharge. This article surveys more than 700 published economic studies and judicial decisions that contain 2,041 quantitative estimates of overcharges of hard-core cartels. The primary findings are: (1) the median average long-run overcharge for all types of cartels over all time periods is 23.0%; (2) the mean average is at least 49%; (3) overcharges reached their zenith in 1891–1945 and have trended downward ever since; (4) 6% of the cartel episodes are zero; (5) median overcharges of international-membership cartels are 38% higher than those of domestic cartels; (6) convicted cartels are on average 19% more effective at raising prices as unpunished cartels; (7) bid-rigging conduct displays 25% lower markups than price-fixing cartels; (8) contemporary cartels targeted by class actions have higher overcharges; and (9) when cartels operate at peak effectiveness, price changes are 60–80% higher than the whole episode. Historical penalty guidelines aimed at optimally deterring cartels are likely to be too low.

The librarian and researcher have to be able to uncover specific articles in their areas of interest. This Bibliography is designed to help. Volume IV, like Volume III, contains features to help the reader to retrieve relevant literature from MCB University Press' considerable output. Each entry within has been indexed according to author(s) and the Fifth Edition of the SCIMP/SCAMP Thesaurus. The latter thus provides a full subject index to facilitate rapid retrieval. Each article or book is assigned its own unique number and this is used in both the subject and author index. This Volume indexes 29 journals indicating the depth, coverage and expansion of MCB's portfolio.

This paper is positioned as a manager's guide to the new export opportunity, the export trading company (ETC). ETCs are defined in terms of both the legislative provisions and practical managerial opportunities. A number of different ETC models are presented, both hypothetical and real. Guidelines for creating or joining an ETC are offered, and expectations for short‐term performance are assessed by reference to practical examples of new ETCs. Perspectives for future development of U.S. ETCs are also presented.

Based on a review of over 450 articles on multinational enterprises published in leading management journals from 1990‐2000, we identified eighteen issues that had engaged the attention of academic scholarship and evaluated their topical relevance. Ironically, very few of them addressed two of the most pressing issues facing business and society at the turn of the last millennium: terrorism and socio‐economic inequality. These glaring omissions suggest a gap between academic scholarship that focuses on “what is,” and research that speculates as to “what could be.” Suggestions are offered on how to close this important gap in the fi eld of international business.

Stagflation and persistent balance of trade deficits during the 1970's encouraged government policy makers in many countries to seek improvements in export market performance. Another significant development during the 1970's was the empirical verification provided by the PIMS project of the positive relationship between a firm's market share and its profit ability, or other measures of performance in a particular market. The authors propose that the PIMS findings may also apply for an aggregation of firms — namely, world traders. A market share analysis of the export trade performance of the U.S., the E.E.C., and for Japan is presented, the implications of this research are discussed, and some directions for future research are provided.

The relationship between diversification and organizational performance has been the subject of numerous studies over the years (Palepu, 1985; Rumelt, 1974). However, strategy scholars have universally defined diversification using a narrow definition, namely that corporate diversification is a function or reflection of the number of products/businesses in a firm's portfolio. The present study argues that such a definition has become outdated given the impact of international market diversification (Kim, Hwang, & Burgers, 1989; Rugman, 1979). Integrating these two views of corporate diversification, we investigate diversification‐performance differences using market‐ and product‐based measures of diversification and an international sample. Results suggest that the traditional model of diversification may not be applicable to all countries and that international differences exist.