I n the last decade, emerging markets have become a significant feature of the world economy. The allure of vast new markets for growth along with fresh opportunities for low cost offshoring have goaded droves of global corporations to invest in emerging markets. In 2012, global corporations invested more in emerging markets than in the core economies of the United States, Europe, and Japan (Ra...

raisin is one of the most important agricultural products in iran. iran after the turkey and america countries is the third largest exporter of raisin in world. using the indices of export advantage, import advantage, concentration ratios and the herfindahl-hirschman, have been analyzed to check the state trade and market structure of export and import of raisin product in the world during 2001...

BANK OF AMERICA JOURNAL OF APPLIED CORPORATE FINANCE apital markets have become increasingly global over the last 20 years. While providing world investors with opportunities to diversify beyond their home markets, the progressive integration of international financial markets is also bringing about a significant reduction in the cost of capital of public corporations around the world. And a lo...

We analyze the impact of trade liberalization and removal of the federal tax credit in the United States on ethanol markets using a multimarket international ethanol model. We find that U.S. trade barriers have been effective in protecting the ethanol industry. Under current policy, there is separability of the U.S. ethanol market from world markets. With trade liberalization, the ethanol marke...

Using a multivariate generalized autoregressive conditional heteroskedasticity (GARCH-M) model, we investigate volatility spillovers in six Southeast Asian stock markets around the time of the 1997 Asian crisis. We focus on interactions with the U.S. market as a world financial market, and with the Japanese market as a regional financial market. We also use bivariate GARCH-M models to examine t...

The electronic market hypothesis (EMH) predicts that by reducing coordination costs, information technology (IT) will shift industrial organization from hierarchical to market-based forms of economic activity. While academic researchers and practitioners have witnessed these shifts with the advent of the Internet, there is little understanding about the process and the underlying forces that dr...

Much of the early research in electronic markets suggested that the proliferation of ecommerce would ultimately threaten the presence of intermediaries in electronic value chains. However, a careful analysis of the structure and functions of electronic marketplaces indicates that intermediaries provide many value-adding functions that cannot be easily substituted or ‘internalised’ through direc...