Based upon the foundations of mean-variance decision-making theory, we demonstrate that a change in the risk situation of an international enterprise open currency position does not inevitably require a corresponding hedging accommodation. Given a new risk situation, whether a revision of the...

Globalisation (in the sense of increased international trade) is usually associated with gains from trade but also distributional effects where e.g. capital owners gain and workers lose, both in real terms. In recent years, globalisation seems to be synonymous to international mergers of firms....

Empirical evidence suggests that many mergers do not increase profits of the participating firms and decrease welfare. Due to the globalization of markets we should take an international view on mergers and their welfare effects. This paper develops a Bertrand-model of an international...

The information and communications revolution has hastened the process of globalization in today's world of business. Consequently, businesses, even small and mid-sized companies, are confronted with cultural diversity when these companies become internationally active. Yet only few businesses...

Angesichts grenzüberschreitender Wirtschaftsverflechtungen nimmt die Bedeutung von internationalen Organisationen und ihr Einfluss auf die politische, rechtliche und wirtschaftliche Situation in nationalstaatlichen Arenen zu. Als politische Institutionen agieren internationale Organisationen in...

In order to explore the potential contributions that returned expatriates can make towards helping their organizations to better understand and manage culturally diverse and changing conditions, a pilot study was conducted in two German-based companies with a long tradition of international...

Internationalization based on direct foreign investment is proving to be a key economic factor for the transformation economies of Eastern Central Europe. The decisive influence factors in this process are primarily major investments by groups based on longer-term strategies with the new...

This paper analyzes the tax haven investment behavior of multinational firms from a country that exempts foreign income from taxation. High foreign tax rates generally encourage firms to invest in tax havens, though significant costs of reallocating taxable income dampen these incentives. The...