Numerous research have been discovered to developed internationalization process model (investment to other country market). Like Johanson and Vahlne, they are among the first to discuss the internationalization process model. There are four key items underlying Johanson and Vahlne’s model, those are market knowledge, market commitment, commitment decision, and current activities. However, many...

It is now known that the very impressive investment returns generated by Bernie Madoff were based on a sophisticated Ponzi scheme. Madoff claimed to use a splitstrike conversion strategy. This strategy consists of a long equity position plus a long put and a short call. In this paper we examine Madoff’s returns and compare his investment performance with what could have been obtained using a sp...