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Appropriate for graduate level (MBA) courses in International Business. This MBA level text focuses on five aspects of the cross border environment: exchange rates and international capital markets, trading patterns and regimes, regulatory content, and political content.

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CONTENTS
PREFACE = xiii
CHAPTER 1 INTRODUCTION = 1
 A Definition of the MNE = 2
 Distinguishing Aspects of the MNE = 4
 Multiple Sources of External Authority(MA), = 4
 Multiple Denominations of Value(MV) = 5
 The Managerial Challenges Ahead, and OUTLINE OF THE BOOK = 6
 Conclusion = 7
CHAPTER 2 FORCES OF GLOBALIZATION = 9
 A Brief Historical Background = 10
 The Managerial Challenges Ahead, and Outline of the book = 6
 Conclusion = 7
CHAPTER 2 FORCES OF GLOBALIZATION = 9
 A Brief Historical Background = 10
 The Decision to Globalize = 11
 Why Should the Firm Go Abroad ? = 11
 The MNE as Exploiting Market Imperfections : Seeking Markets, Efficiency, and Knowledge, = 11
 The MNE and the Life Cycle of Its Products = 12
 The MNE and Macro-forces of Globalization = 13
 The MNE and Competitive Advantage of Nations = 14
 How the Firm Should GO Abroad : The Mode of Entry = 15
 MNEs and Internalization of Transactions in the choice of Mode of Entry = 16
 MNEs and the Role of MA and MV in the Choice of Mode of Mode of Entry = 16
 The Complex MNE : Nonsequential Entry = 17
 Summary = 17
CHAPTER 3 FOREIGN EXCHANGE : THE BASICS = 19
 Basic Definitions = 20
 Depreciation, Appreciation Premium and Discount = 20
 Purchasing Power Parity = 21
 Exchange Rates and Nominal Interest Rates = 22
 Covered Interest Parity Theorem = 22
 Speculative Efficiency Hypothesis = 24
 Uncovered Interest Parity Theorem = 25
 The Foreign Exchange Market = 25
 Determining the Value of Exchange Rates = 26
 Types of MNE Exchange Rate Exposure = 27
 Appendix A Restatement of Some of the Kdy Relationships Using the Indirect Quote = 28
 Case 1 Foreign Exchange Problem Set = 29
CHAPTER 4 FOREIGN EXCHANGE : TRANSACTION EXPOSURE = 33
 Forward Markets = 34
 Hedging Receivables = 34
 Hedging Payables = 35
 Receivables and Payables = 35
 Foreign Currency Futures = 35
 Hedging with Futures Contracts = 36
 Currency Options = 36
 Using Options on Spot to Hedge = 37
 Other Ways to Manage Transaction Exposure = 38
 Reducing the Transaction Costs of Hedging = 38
 Long-Term Hedging : Currency Swaps(Advanced Section) = 38
 Borrowing or Lending Across Currencies = 39
 Summary = 40
 Case 2 Piermont Inc. = 41
 Case 3 The World Wildlife Fund and Debt-for-Nature = 46
CHAPTER 5 EXCHANGE RATES : ECONOMIC EXPOSURE = 49
 Definitions = 49
 Revenues and Pricing Strategies = 50
 The Pricing Strategy Choices = 50
 The Choice between Skimming and Penetration Pricing = 52
 Conclusions on Pricing Strategies = 53
 Cost and Sourcing Strategies = 53
 The Sourcing Problem in the Face of Currency Movements = 53
 Factors Affecting Cost-based and Sourcing Strategies = 53
 Competitive Strategies = 54
 Currency Area of Competition = 54
 Market Structure(Advanced) = 55
 Strategic Orientation = 57
 Case 4 Economic Exposure to Exchange Rates : Problem Set = 59
 Case 5 Campbell Soup in Japan = 62
 Case 6 E. I. DuPont de Nemours in Japan = 63
Chapter 6 THEORIES OF INTERNATIONAL TRADE = 64
 Views of US CEOs, the Public, and Economists on Free Trade = 65
 The Classical Theories of Trade : Absolute Advantage and Comparative Advantage = 65
 An Example of the Comparative Advantage Argument = 66
 Intuition behind the Idea of Comparative Advantage = 67
 Some Crucial Assumptions Underlying the Ricardo Model = 67
 Factor Endowments and Comparative Advantage : The Heckscher, Ohlin Theory = 68
 Some Implications of the Theories of Comparative Advantage(or How Free Trade Also Creates the Incentive for Protection) = 68
 Forms of Protection = 70
 Tariff Barriers = 70
 Nontariff Barriers = 70
 Impact of Protection on National Welfare : The Case of Tariffs = 71
 Newer Theories of International Trade : Strategic Trade = 73
 Summary = 74
 Case 7 International Trade : Problem Set = 76
CHAPTER 7 THE TRADING ENVIRONMENT OF INTERNATIONAL BUSINESS : LAWS AND INSTITUTIONS = 78
 Bilateral Trade Laws : An Overview of United States International Trade Law = 78
 Key US Government Agencies Resposibel for US Trade Laws = 79
 Key Terminology in US Trade Laws = 80
 An Overview of Four Key US Trade Statutes = 81
 Section 201 : " Escape Clause " = 81
 Section 301 : Unfair Practices Outside the United States = 81
 Title VII Cases, Antidumping and Countervailing Duty(CVD) = 82
 Section 337 : Unfair Practices of Import Trade = 83
 Multilateral Trade Laws : An Overview of GATT = 83
 The Uruguay Round = 84
 Regional Trading Arrangements : The European Union and NAFTA = 85
 The European Union = 86
 The North American Free Trade Agreement(NAFTA) = 87
 Summary = 88
 Case 8 The Chips Are Down = 90
 Case 9 Boeing versus Airbus : GATT AND Mouse = 97
CHAPTER 8 THE REGULATORY ENVIRONMENT OF INTERNATIONAL BUSINESS = 117
 Some General Principles of Law = 118
 Basic Features of Law in Any Society = 118
 Types of Law in Different Parts of the World = 118
 Some Important Differences in the Application of Common and Civil Laws = 119
 Basic Principles of International Law for Business = 120
 Sovereignty and Sovereign Immunity = 120
 International Jurisdiction = 121
 The Doctrine of Comity = 121
 The Act of State Doctrine = 121
 The Treatment and Rights of Aliens = 122
 The Appropriate Forum for Hearing and Settling Disputes = 122
 The Void at the Intersection of Sovereign Boundaries = 122
 Areas of Particular Concern to MNEs = 123
 International Antitrust Considerations = 123
 Multinational Bankruptcy = 123
 Cross-border Liability = 124
 Trade Disputes = 124
 Protection of Intellectual Property = 124
 Policy at Home = 124
 Guidelines for Managers of MNEs = 125
 Summary = 126
 Case 10 Dresser(France) S. A. and the Soviet Gas Pipeline = 127
CHAPTER 9 THE ETHICAL AND SOCIAL RESPONSIBILITY ENVIRONMENT OF INTERNATIONAL BUSINESS = 140
 MNE Social Responsibility = 140
 The Efficiency Perspective = 141
 Social Responsibility Perspective = 143
 Summary = 144
 Case 10 Dresser(France) S. A. and the Soviet Gas Pipeline = 127
 MNE Social Responsibility = 140
 The Efficiency Perspective = 141
 Social Responsibility Perspective = 143
 Summary = 144
 Ethics in International Business = 145
 Teleological Perspective = 145
 Deontological Perspective = 145
 Summary = 146
 Foreign Corrupt Practices Act(FCPA) = 147
 Conclusion = 148
 Case 11 Union Carbide and Bhopal : Diary of Disaster(A) = 149
 Case 12 Nicolo Pignatelli and Gulf Italia(A) = 166
CHAPTER 10 : COUNTRY RISK ANALYSIS = 175
 The Uses of Country Analysis = 175
 Theoretical Thinking = 176
 The Role of Values = 177
 Identification : Performance, Strategy, and Context = 177
 Performance = 177
 Strategy = 178
 Context = 179
 Evaluating = 181
 Diagnosing the Causes = 181
 Evaluating the Future = 184
 Prediction or Scenario Generation : Chian = 184
 Best Five - Year Scenario : Pragmatistis = 185
 Worst Five - Year Scenario : Conservatives = 186
 Conclusion = 187
 Case 13 Nike in China = 188
CHAPTER 11 POLITICAL RISK ANALYSIS = 209
 Prevalent Analytical Techniques = 210
 Observational Data Techniques = 210
 Expert- based Techniques = 210
 Summary of Techniques = 211
 Political Instability and Political Risk = 213
 Nature of Political Instability = 214
 Control of Instability = 214
 Relevance to the Firm = 214
 The Political Risk Analysis Procedure = 215
 Step 1 : Assessing Issues of Relevance to the Firm = 215
 Step 2 : Assessing Potential Political Events = 216
 Step 3 : Assessing Probable Impacts and Responses = 216
 Conclusion and Summary = 217
 Case 14 Gulfstream and Sukhol : The Supersonic Business Jet = 218
 Case 15 Note on the corporate Jet Marekt and Supersonic Transportation = 230
CHAPTER 12 THE ANALYSIS OF MINES BY COUNTRIES = 237
 Why Governments Worry about, MNEs = 237
 General Concern for Independence = 237
 Concern about Impact on Domestic Firms = 238
 Concerns about Hidden Value = 238
 Concerns about Responsibility = 239
 Economic Cost Benefit Analysis = 239
 Cost Benefit Ratio = 240
 Present Value of Costs and Benefits = 240
 Shadow Price Adjustments and Benefits-Cost Analysis = 241
 Example of Differing Valuations = 242
 Shifting Perceptions Over Time = 242
 Case 16 Dow Indonesia (A) = 246
CHAPTER 13 THE CULTURAL ENVIRONMENT OF INTERNATIONAL BUSINESS = 266
 The Essence of Culture = 267
 The Nature of Assumptions about the World = 269
 Cross-cultural Adjustment : The Process = 272
 The Impact of Culture on Managerial Behaviors = 275
 Communication = 275
 Negotiation = 275
 Decision Making = 277
 Conclusion = 278
 Case 17 West Coast University and Hamamatsu Chemical = 279
CHAPTER 14 COMPETITIVE STRATEGY AND THE INTERNATIONAL BUSINESS ENVIRONMENT = 295
 Two Dominant Views of Strategy = 295
 Principles of Competitive Strategy Formulation = 296
 Industry Structure = 296
 Competitive Positioning = 297
 Sources of Competitive Advantage : The Value Chain = 298
 Global Strategy : Coordinating and Configuring The Value Chain = 300
 The Effects of MA and MV on Competitive Strategy Formulation = 302
 The Effects of MA and MV on Competitive Positioning = 302
 The Effects of MA and MV on Coordination and Configuration of the Value Chain = 304
 Case 18 The Honda-Yamaha War (A) = 306
CHAPTER 15 DESIGNING ORGANIZATIONS FOR INTERNATIONAL ENVIRONMENTS = 312
 Basic Principles = 312
 Differentiation vs. Integration = 313
 Formal vs. Informal Structures = 314
 Centralized vs. Decentralized Structures = 315
 Organizational Structures = 315
 International Division Structure = 315
 Global Functional Structure = 319
 Geographical Area Structure = 319
 Global Product Structure = 320
 Global Divisional Structure = 320
 Global Customer Structure = 321
 Global Matrix Structure = 321
 Mixed Organizational Structures = 321
 Contingencies in Organizational Design = 322
 Organizational Uncertainty = 322
 Globalization vx. Localization = 323
 Information Exchange = 324
 Contingency Heuristic = 325
 Warning Signs = 328
 Conclusion = 329
 Case 19 ABB Asea Brown Boveri(A) : The Merger = 330
INDEX = 341