Excess returns and international diversification: The Scandinavian view

The paper discusses excess returns within four Scandinavian stock markets and also how Scandinavian returns are related to the returns in non-Scandinavian markets. Some underlying reasons for the observed economically weak relationships between markets are reviewed. Moreover, some reasons why the interrelationships between markets can be expected to increase in the future are provided.     

The Canada-US Free Trade Agreement and the telecommunications industry

The Canada-US Free Trade Agreement, which came into effect on 1 January 1989, could well prove to be a breakthrough in the liberalization of trade between the two countries. This paper highlights the provisions of the FTA that indirectly or directly affect the telecommunications industry, assesses their possible impact and evaluates their probable importance to different participants in the industry. The authors make many predictions as to the effects of this agreement in terms of both telecommunications equipment and services and foresee greater competition and larger markets.     

Conjoining Ethical Theory and Practice: An Australian Study of Business,Accounting, and Police Service Organizations

The purpose of this study, which took place in Western Australia,was to identify situations where management practitioners and academics worked closely together to bridge the `theory-practice gap'in the field of business ethics. Four organizations, two in the accounting field, one a corporate secretaries institute and the Western Australia Police Service were asked if they would participatein a study to examine the extent to which their members made use ofethical theory in their day-to-day activities. A concomitant questionwas whether such theory had an impact on the way organizations carriedout their functions. Each organization was actively involved in teaching ethical theory to their members at an advanced level. The four organizations offered a range of teaching/learning strategies i.e. guest lectures, seminar and discussion groups, training videos and workbooks. The courses that were developed by these organisationswere equal to, and in some cases superior to, ethics courses offered in some business schools. This paper illustrates that by these innovative approaches the four organisations were taking a lead in re-defining ethical practice and teaching ethical theory in their respective organisations. The study illustrates that the programs were effective to the extent that they were instrumental in changingthe behavior and the culture of their members.     

An exploratory study of operational reasons to budget

Budgets are used widely but criticized, mainly for performance evaluation reasons. We find that organizations regard budgets as more important for planning and control than evaluation, thus proposing a rationale for their continued use irrespective of evaluation‐based criticisms. This finding is also important, because most extant budget research focuses on evaluation, suggesting a potential disconnect between budget research and practice. We also find that rolling forecasts are used in tandem with the annual budget in most organizations, and for the same reasons. This was unexpected, as coexistence suggests their adoption for different reasons.     

Developing global products and marketing strategies: A rejoinder

In this issue of JAMS, Dr. Lyn Amine presents a “comment and an extension” to our previously published article. Such efforts are often constructive, and in this spirit, we present a discussion responding to Dr. Amine’s comments. Our response, combined with Dr. Amine’s comments, hopefully will provide constructive research avenues in international product and marketing strategy development. He has published extensively in the areas of international marketing and retailing. His research and publication areas include international marketing, high tech marketing, and advertising management. His research and publication interests include sales management, international marketing, and retail management.