This paper attempts to shed light on the following research questions: When a firm introduces a new product (or service) how can it effectively use the different information sources available to generate reliable new product performance forecasts? How can the firm account for varying information availability at different stages of the new product launch and generate forecasts at each stage? We ...

Social capital is an important concept for multinational firms. Firms operating in global markets rarely have adequate resources to compete effectively in global markets; they access the needed resources through formal and informal relationships with other firms. The cultures in Asian countries have emphasized relationships much more strongly than Western firms. Thus, relational capital, based ...

The stock market crash of 1987 sent shock waves through the world's financial markets. Stock exchanges in New York, Chicago, London, Tokyo, Frankfurt, and a host of other cities suffered major declines. In response, credit markets, commodity markets, and foreign exchange markets registered sharp swings. Not since the Great Depression had the world seen such turmoil in financial markets. But, dr...

the growing trend of the globalization process and how to deal with this phenomenon has become a major challenge for countries around the world in general and the developing countries in particular. the knowledge of comparative advantages and disadvantages of the home industries could be of great help to the countries trying to join the world trade organization (wto). in this article an attempt...

We compare risk sharing in response to demand and supply shocks four types of currency unions: segmented markets; a money market union; capital complete financial markets. show that union is efficient at domestic (deleveraging, fiscal consolidation), while necessary share (productivity quality shocks). In numerical exercise, we find the welfare gain moving from markets roughly similar magnitude...

In this study, we assess the dynamic evolution of short-term correlation, long-term cointegration and Error Correction Model (hereafter referred to as ECM)-based long-term Granger causality between each pair of US, UK, and Eurozone stock markets from 1980 to 2015 using the rolling-window technique. A comparative analysis of pairwise dynamic integration and causality of stock markets, measured i...

With the growth of electronic markets, designing double auction mechanisms that are applicable to emerging market structures has become an important research topic. In this paper, we investigate two truthful double auction design approaches, the Trade Reduction Approach and the Multi-Stage Design Approach, and compare their resulting mechanisms in various exchange environments. We find that com...

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...

Gray marketing, the selling of branded goods outside of manufacturer-authorized channels, is a factor in many industries. Using a model of differentiated Cournot competition, we analyze how gray markets affect the strategy used to enter low-priced foreign markets. In particular, we examine how much autonomy a firm should give its foreign subsidiary. When production in the foreign country is det...