Chapter1:

Aggarwal, Raj. “Investment Performance of U.S.-Based Multinational Companies:Comments and a Perspective of International Diversification of Real Assets.” Journal of

International Business Studies (Spring-Summer 1980), pp. 98-104.Anderson, Otto. “On the Internationalization Process of Firms: A Critical Analysis.” Journal of International Business Studies, (Second Quarter 1993), pp. 209-231.Auster, Ellen. “International Corporate Linakages: Dynamic Forms in Changing

Environments.” Columbia Journal of World Business (Summer 1987), pp. 3-6.Beamish, Paul W. and Jonathon L. Calof. “International Business Education: A Corporate View.” Journal of International Business Studies (Fall 1989), pp. 553- 564.Bennett, Thomas, and Craig S. Hakkio. “Europe 1992: Implications for U.S. Firms.” Economic Review, Federal Reserve Bank of Kansas City (April 1989), pp. 3-17.Boseman, Glenn. “The Australian Mulitnational-Parent and Subsidiary Relationships.”

Management International Review 26, no. 2 (1986), pp. 43-51.Boubakri, N. and J. Cosset. “The Financial and Operating Performance of Newly Privatized Firms:

Evidence from Developing Countries.” Journal of Finance 53 (June 1998), pp. 1081-1110.Daniels, J.D., and J. Bracker, “Profit Performance: Do Foreign Operations Make a

Difference?” Management International Review, no. 1 (1989), pp. 46-56.Dunning, John H. “The Study of International Business: A Plea for a More Interdisciplinary Approach.” Journal of International Business Studies (Fall 1989), pp. 411-436.Haar, Jerry. “A Comparative Analysis of the Profitability Performance of the Largest U.S.,

European, and Japanese Multinational Enterprises.” Management International Review,no. 3 (1989), pp. 5-18.

Kim, W. Chan, and Renee A. Mauborgne. “Effectively Conceiving and Executing Multinationals’ Worldwide Strategies.” Journal of International Business Studies, (Third Quarter 1993), pp. 419-448.

Laczniak, Gene R., and Jacob Naor. “Global Ethics: Wrestling with the Corporate Conscience.” Business (July-September 1985), pp. 3-9.

Madura, Jeff, and Lawrence C. Rose. “Are Product Specialization and International Diversification Compatible?” Management International Review, no. 3 (1987), pp. 37- 44.

Ojah, K., N.E. Seitz, and M. Rawashdeh. “Why Manufacture Offshore? An Empirical Analysis of Valuation Effects.” Financial Review 32 (August 1997), pp. 477-499.Rybczynski, T.M. “The European Community and the World Economy.” Business

Economics (October 1989), pp. 24-29.Stein, J.L. and G. Paladino. “Recent Developments in International Finance: A Guide to Research.”

Journal of Banking & Finance 21 (December 1997), pp. 1685-1720.Tung, Rosalie L., and Edwin L. Miller. “Managing in the Twenty-first Century: The Need

for Global Orientation.” Management International Review, no.1 (1990), pp. 5- 18.Vernon, Raymond. “International Investment and International Trade in the Product Life

Cycle.” Quarterly Journal of Economics (May 1966), pp. 190-207.Yamori, N. “A Note on the Location Choice of Multinational Banks: The Case of Japanese

Financial Institutions.” Journal of Banking & Finance 22 (January 1998), pp. 109-120.

Chapter 2:

Baldwin, Robert E. “Determinants of Trade and Foreign Investment: Further Evidence.”Review of Economics and Statistics (Fall 1979), pp. 40-48.

Bergstrand, Jeffrey H. “United States-Japanese Trade: Predictions Using Selected Economic Models.” New England Economic Review, Federal Reserve Bank of Boston (May-June 1986), pp. 24-37.

Chmura, Christine. “The Effect of Exchange Rate Variation on U.S. Textile and Apparel Imports.” Economic Review, Federal Reserve Bank of Richmond (May-June 1987), pp. 17-22.

Coughlin, Cletus C. and Geoffrey E. Wood. “ An Introduction to Non-Tariff Barriers to Trade.” Review, Federal Reserve Bank of St. Louis (January-February 1989), pp. 32-46.Fieleke, Norman S. “The Terms of Which Nations Trade.” New England Economic Review (November-December 1989), pp. 3-12.______. “International Payments Imbalances in the 1980s: An Overview.” New England

Economic Review, Federal Reserve Bank of Boston, (March-April 1989), pp. 4- 14.______. “Europe in 1992.” New England Economic Review, Federal Reserve Bank of Boston, (May-June 1989), pp. 14-26.Forrestal, Robert P. “The Rising Tide of Protectionism.” Economic Review, Federal Bank of Atlanta (March-April 1987), pp. 4-10.Hung, Wansing, Yoonbai Kim, and Kenichi Ohno. “Pricing Exports: A Cross-Country Study.” Journal of International Money and Finance (February 1993), pp. 3-28.Keefe, V.M. “The World Bank Group as Private-Sector Catalyst.” Journal of Project Finance 2

(Winter 1996), pp. 46-52.Kelly, K.H. and M.E. Morkre. “Do Unfairly Traded Imports Injure Domestic Industries?” Review

of International Economics 6 (May 1998), pp. 321-332.Kroner, Kenneth F., and William D. Lastrapes. “The Impact of Exchange Rate Volatility on International Trade: Reduced Form Estimates Using the GARCH-in-mean Model.” Journal of International Money and Finance (June 1993), pp. 298-318.Lahiri, A. “Intertemporal Price Speculation and the Optimal Current-Account Deficit: A

Comment.” Journal of International Money & Finance 15 (February 1996), pp. 135-139.Obstfeld, Maurice. “Balance-of-Payments Crises and Devaluation.” Journal of Money, Credit, and Banking (May 1984), pp. 208-217.Rugman, Alan M., and Alain Verbeke. “Multinational Corporate Strategy and the Canada-U.S. Free Trade Assignment. Management International Review no. 3 (1990), pp. 253-266.Steib, S. and N. Mohan. “The German Reunification, Changing Capital Market Conditions, and the

Performance of German Initial Public Offerings.” Quarterly Review of Economics & Finance 37 (Spring 1997), pp. 115-137.

Chapter 3:

Bernauer, Kenneth. “The Asian Dollar Market.” Economic Review, Federal Reserve Bank of San Francisco (Winter 1983), pp. 47-63.Chang, Carolyn W., and Jack S.K. Chang. “Forward and Futures Prices: Evidence from the Foreign Exchange Markets.” Journal of Finance (September 1990), pp. 1333- 1336.Chrystal, K. Alec. “A Guide to Foreign Exchange Markets.” Review (March 1984), pp. 5-18.Chunhachinda, P., K.H. Dandapani, S. Hamid, and A.J. Prakash. “Portfolio Selection and

Skewness: Evidence from International Stock Markets.” Journal of Banking & Finance 21 (February 1997), pp. 143-167.

Cornell Bradford, and Marc R. Reinganum. “Forward and Futures Prices: Evidence from the Foriegn Exchange Markets.” Journal of Finance (December 1981), pp. 1035-1045.

Gallo, J.G. and P.E. Swanson. “Comparative Measures of Performance for U.S.-Based International Equity Mutual Funds.” Journal of Banking & Finance 20 (December 1996), pp. 1635-1650.

Grilli, Vittorio, and Nouriel Roubini. “Liquidity, Capital Controls, and Exchange Rates.” Journal of International Money and Finance (April 1993), pp. 139-153.

Howe, John S. and Kathryn Kelm. “The Stock Price Impacts of Overseas Listings.” Financial Management (Autumn 1987), pp. 51-56.

Howe, John S. and Jeff Madura. “The Impact of International Listings on Risk: Implications for Capital Market Integration.” Journal of Banking and Finance. (December 1990), pp. 1133-1142.Howe, John S., Jeff Madura, and Alan L. Tucker. “International Listings on Risk.” Journal of International Money and Finance (February 1993), pp. 99-110.Kang, J. and R.M. Stulz. “Why Is There a Home Bias? An Analysis of Foreign Portfolio Equity

Ownership in Japan.” Journal of Financial Economics 46 (October 1997), pp. 3-28.Karolyi, G.A. and R. M. Stulz. “Why Do Markets Move Together? An Investigation of U.S.-Japan

Stock Return Comovements.” Journal of Finance 51 (July 1996), pp. 951-986.Lee, S.H., H.M. Sung, and J.L. Urrutia. “The Behavior of Secondary Market Prices of LDC

Syndicated Loans.” Journal of Banking & Finance 20 (April 1996), pp. 537-54.Logue, Dennis E., and George S. Oldfield. “What’s So Special About Foreign Exchange Markets?” Journal of Portfolio Management (Spring 1997), pp. 19-24.Wagster, J.D. “Impact of the 1988 Basel Accord on International Banks.” Journal of Finance 51

(September 1996), pp. 1321-1346.

Chapter 4:

Andersen, T.G. and T. Bollerslev. “Deutsche Mark-Dollar Volatility: Intraday Activity Patterns, Macroeconomic Announcements, and Longer Run Dependencies.” Journal of Finance 53 (February 1998), pp. 219-265.

Backus, David K., Allan W. Gregory, and Chris I. Telmer. “Accounting for Forward Rates in Markets for Foreign Currency.” Journal of Finance (December 1993), pp. 1887-1908.Bakshi, G.S. and X. Chen. “Equilibrium Valuation of Foreign Exchange Claims.” Journal of

Finance 52 (June 1997), pp. 799-826.Bollerslev, Tim and Ian Domowitz. “Trading Patterns and Prices in the Interbank Foreign

Exchange Market.” Journal of Finance (September 1993), pp. 1421-1443.Boyle, Glenn. “International Interest Rates, Exchange Rates, and Stochastic Structure of Supply.” Journal of Finance (June 1990), pp. 655-672.Cavaglia, S.M. and C.C. Wolff. “A Note on the Determinants of Unexpected Exchange Rate Movements.” 20 (January 1996), pp. 179-188.Chrystal, K. Alec. “A Guide to Foreign Exchange Markets.” Review (March 1984), pp. 5-18.Cornell, Bradford, and Marc R. Reinganum. “Forward and Futures Prices: Evidence from the Foreign Exchange Markets.” Journal of Finance (December 1981), pp. 1035-1045.Frankel, Jeffrey. “Flexible Exchange Rates: Experience versus Theory.” Journal of Portfolio Management (Winter 1989), pp. 45-54.Hakkio, Craig S. “Interest Rates and Exchange Rates-What is the Relationship?” Economic Review, Federal Reserve Bank of Kansas City (November 1986), pp. 33-43.Lim, G.C. “Testing for the Fundamental Determinants of the Long Run Real Exchange Rate.” Journal of Banking and Finance (June 1992), pp. 625-642.Logue, Dennis E., and George S. Oldfield. “What’s So Special About Foreign Exchange

Markets?” Journal of Portfolio Management (Spring 1977), pp. 19-24.Marrinan, Jane. “Exchange Rate Determination: Sorting Out Theory and Evidence.” New England Economic Review (November-December 1989), pp. 39-51.Officer, Lawrence, H. “The Purchasing Power Parity Theory of Exchange Rates: A Review Article.” IMF Staff Papers (March 1976), pp. 1-60.Pan, M., Y.A. Liu, and H. Bastin. “An Examination of the Short-Term and Long-Term Behavior of

Foreign Exchange Rates.” Financial Review 31 (August 1996), pp. 603-622.

Tanner, G. “A Note on Economic News and Intraday Exchange Rates.” Journal of Banking & Finance 21 (April 1997), pp. 573-585.Woo, Wing Thye. “Some Evidence of Speculative Bubbles in the Foreign Exchange Market.” Journal of Money, Credit, and Banking (November 1987), pp. 499-514.

Chapter 5:

Adams, Paul and Steve Wyatt. “Biases in Option Prices: Evidence from the Foreign Currency Option Market.” Journal of Banking and Finance (December 1987), pp. 549-562.Biger, Nahum and John Hull. “The Valuation of Currency Options.” Financial Management

(Spring 1983), pp. 24-28.Bodurtha, James and Georges Courtadon. “Tests of an American Option Pricing Model on the

Foreign Currency Options Market.” Journal of Financial Quantitative Analysis (June 1987), pp. 153-168.Bodurtha, James N., Jr., and Georges R. Courtadon. “Efficiency Tests of the Foreign Currency Options Market.” Journal of Finance (March 1986), pp. 151-161.Carlozzi, Nicholas. “Exchange Rate Volatility: Is Intervention the Answer?” Business Review, Federal Reserve Bank of Philadelphia, (November-December 1983), pp. 3-10.Chrystal, K. Alec. “A Guide to Foreign Exchange Markets.” Review, Federal Reserve Bank of St. Louis, (March 1984), pp. 5-18.Doukas, John and Abdul Rahman. “Unit Root Tests: Evidence from the Foreign Exchange Futures Market.” Journal of Financial and Quantitative Analysis (March 1987), pp. 101- 108.Gendreau, Brian. “New Markets in Foreign Currency Options.” Business Review, Federal Reserve Bank of Philadelphia, (July-August 1984), pp. 3-12.Grammatikos, Theoharry. “Intervalling Effects and the Hedging Performance of Foreign

Currency Futures.” Financial Review (February 1986), pp. 21-36.Hill, Joanne and Thomas Schneeweis. “The Hedging Effectiveness of Foreign Currency Futures.” Journal of Financial Research (Spring 1982), pp. 95-104.Hilliard Jimmy, Jeff Madura, and Alan L. Tucker. “Currency Option Pricing with Stochastic Domestic and Foreign Interest Rates.” Journal of Financial and Quantitative Analysis (June 1991), pp. 139-151.Johnson, Larry J. “Foreign-Currency Options, Ex Ante Exchange-Rate Volatility, and Market Efficiency: An Empirical Test.” Financial Review (November 1986), pp. 433-450.Kho, B. “Time-Varying Risk Premia, Volatility, and Technical Trading Rule Profits: Evidence

from Foreign Currency Futures Markets.” Journal of Financial Economics 41 (June 1996), pp. 249-290.

Kroner, Kenneth F. and Jahangir Sultan. “Time-Varying Distributions and Dynamic Hedging with Foreign Currency Futures.” Journal of Financial and Quantitative Analysis, (December 1993), pp. 535-551.Lioui, A. “Currency Risk Hedging: Futures vs. Forward.” Journal of Banking & Finance 22

(January 1998), pp. 61-81.Madura, Jeff and George Cash. “Investing in Currency Futures Contracts.” Journal of Business and Economic Perspectives (Fall 1989), pp. 123-126.Madura, Jeff and E. Theodore Veit. “Use of Currency Options in International Cash

Management.” Journal of Cash Management, (January-February 1986), pp. 42- 48.Maldonado, Rita and Anthony Saunders. “Foreign Exchange Futures and the Law of One

Price.” Financial Management (Spring 1983), pp. 19-23.Shastri, Kuldeep and Kishore Tandon. “Valuation of American Option on Foreign

Currency.” Journal of Banking and Finance (June 1987), pp. 245-269.Shastri, Kuldeep, and Kishore Tandon. “Valuation of Foreign Currency Options: Some Empirical Tests.” Journal of Financial and Quantitative Analysis (June 1986), pp. 145-160.

Tse, Y. and G.G. Booth. “Risk Premia in Foreign Currency Futures: A Reexamination.” Financial Review 31 (August 1996), pp. 521-534.

Chapter 6:

Almekinders, G.J. and S.C. Eijffinger. “A Friction Model of Daily Bundesbank and Federal Reserve Intervention.” Journal of Banking & Finance 20 (September 1996), pp. 1365-1380.

Bartov, E., G.M. Bodnar, and A. Kaul. “Exchange Rate Variability and the Riskiness of U.S. Multinational Firms: Evidence from the Breakdown of the Bretton Woods System.” Journal of Financial Economics 42 (September 1996), pp. 105-132.

Batten, Dallas S., and Mack Ott. “What Can Central Banks Do About the Value of the Dollar?” Review, Federal Reserve Bank of St. Louis (May 1984), pp. 16-26.Batten, Dallas S., and Daniel L. Thornton. “Discount Rate Changes and the Foreign Exchange Market.” Journal of International Money and Finance (December 1984), pp. 279-92.Carlozzi, Nicholas. “Exchange Rate Volatility: Is Intervention the Answer?” Business Review, Federal Reserve Bank of Philadelphia (November-December 1983), pp. 3-10.Friedman, Milton, and Robert V. Roosa. “Free versus Fixed Exchange Rates: A Debate.”

Journal of Portfolio Management (Spring 1977), pp. 69-73.Humpage, Owen F., and Nicholas V. Karamouzis. “Target Zones for Exchange Rates?” Economic Commentary, Federal Reserve Bank of Cleveland, August 1, 1986.Kahn, George A. “International Policy Coordination in an Interdependent World.” Economic Commentary, Federal Reserve Bank of Cleveland, August 1, 1986.Klein, Michael W., and Eric S. Rosengren. “Foreign Exchange Intervention as a Signal of

Monetary Policy.” New England Economic Review (May/June 1991), pp. 39-50.Peiers, B. “Informed Traders, Intervention, and Price Leadership: A Deeper View of the

Microstructure of the Foreign Exchange Market.” Journal of Finance 52 (September 1997), pp. 1589-1614.Pollard, Patricia. “Central Bank Independence and Economic Performance.” Review

(July/August 1993), pp. 22-36.Rogoff, Kenneth. “On the Effects of Sterilized Intervention: An Analysis of Weekly Data.” Journal of Monetary Economics (September 1984), pp. 133-150.Sweeney, R.J. “Do Central Banks Lose on Foreign-Exchange Intervention? A Review Article.” Journal of Banking & Finance 21 (December 1997), pp.1667-1684.Tucker, Alan L., and Jeff Madura. “Impact of the Louvre on Actual and Anticipated Exchange Rate Volatility.” Journal of International Financial Markets, Institutions and Money (No. 3, 1991), pp. 67-80.Weber, Warren E. “Do Sterilized Interventions Affect Exchange Rates?” Quarterly Review, Federal Bank of Minneapolis (Summer 1986), pp. 14-23.Whitt, Joseph A., Jr., Paul D. Koch, and Jeffrey A. Rosensweig. “The Dollar and Prices:

An Empirical Analysis.” Economic Reveiw, Federal Reserve Bank of Atlanta (October 1986), pp. 4-18.

Chapter 7:

Adler, Michael, and Bernard Dumas. “International Portfolio Choice and Corporation Finance: A Synthesis.” Journal of Finance (June 1983), pp. 925-984.Aliber, Robert Z. “The Interest Rate Parity Theorem: A Reinterpretation.” Journal of Political Economy (December 1973), pp. 1451-1459.Blenman, L.P. and J.S. Thatcher. “Arbitrageur Heterogeneity, Investor Horizon and Arbitrage Opportunities: An Empirical Investigation.” Financial Review 32 (May 1997), pp. 225-247.

Branson, William H. “The Minimum Covered Interest Differential Needed for International Arbitrage Activity.” Journal of Political Economy (December 1979), pp. 1029-1034.Cornell, Bradford. “Spot Rates, Forward Rates, and Market Dynamics.” Journal of Political Economy (December 1976), pp. 1161-1176.Dooley, Michael P., and Peter Isard. “Capital Controls, Political Risks, and Deviations from Interest-Rate Parity.” Journal of Political Economy (April 1980), pp. 370- 384.Dutton, Marilyn Miller. “Real Interest Rate Parity New Measures and Tests.” Journal of

International Money and Finance (February 1993), pp. 62-77.Frenkel, Jacob A., and Richard M. Levich. “Transaction Costs and Interest Arbitrage: Tranquil Versus Turbulent Periods.” Journal of Political Economy (December 1977), pp. 1209-1226.______. “Covered-Interest Arbitrage and Unexploited Profits Reply.” Journal of Political Economy (April 1979), pp. 418-122.Geweke, J., and E. Feige. “Some Joint Tests of the Efficiency of Markets for Forward Foreign Exchange.” Review of Economics and Statistics (October 1979), pp. 334- 341.Ghosh, D.K. “Profit Multiplier in Covered Currency Trading With Leverage.” Financial Review 32

(May 1997), pp. 391-409.Hollifield, B. and R. Uppal. “An Examination of Uncovered Interest Rate Parity in Segmented

International Commodity Markets.” Journal of Finance 52 (December 1997), pp. 2145-2170.

Lee, C.I. and I. Mathur. “Trading Rule Profits in European Currency Spot Cross-Rates.” Journal of Banking & Finance 20 (June 1996), pp. 949-962.

Popper, Helen. “Long-term Covered Interest Parity: Evidence from Currency Swaps.” Journal of International Money and Finance (August 1993), pp. 439-448.Rhee, S. Ghon and Rosita P. Chang. “Intra-Day Arbitrage Opportunities in Foreign Exchange and Eurocurrency Markets.” Journal of Finance (March 1992), pp. 363-379.Solnik, Bruno. “International Parity Conditions and Exchange Risk: A Review.” Journal of Banking and Finance (August 1978), pp. 281-293.Stokes, Houston H., and Hugh Neuburger. “Interest Arbitrage, Forward Speculation and the Determination of the Forward Exchange Rate.” Columbia Journal of World Business (Winter 1979), pp. 86-98.

Chapter 8:

Abuaf, Niso, and Phillipe Jorion. “Purchasing Power in the Long Run.” Journal of Finance (March 1990), pp. 157-174.Adler, Michael, and Bernard Dumas. “International Portfolio Choice and Corporate Finance: A Synthesis.” Journal of Finance (June 1983), pp. 925-984.Adler, Michael, and Bruce Lehmann. “Deviations from Purchasing Power Parity in the Long Run.” Journal of Finance (December 1983), pp. 1471-1487.Brittain, Bruce. “Tests of Theories of Exchange Rate Determination.” Journal of Finance (May 1977), pp. 519-529.Cornell, Bradford. “Inflation, Relative Price Changes, and Exchange Risk.” Financial

Management (Autumn 1980), pp. 30-34.______., “Relative Price Changes and Deviations from Purchasing Power Parity.” Journal of Banking and Finance (September 1979), pp. 263-279.Cumby, Robert E., and Maurice Obstfeld. “A Note on Exchange-Rate Expectations and Nominal Interest Differentials: A Test of the Fisher Hypothesis.” Journal of Finance (June 1981), pp. 697-703.Dornbusch, Rudiger. “Flexible Exchange Rates and Interdependence.” International Monetary Fund Staff Papers (March 1983), pp. 3-38.

Dueker, Michael J., “Hypothesis Testing with Near-Unit Roots: The Case of Long-run Purchasing Power Parity.” Review, Federal Reserve Bank of St. Louis, (July/August

1993), pp. 37-48.Enders, W. and B. Falk. “Threshold-Autoregressive, Median-Unbiased, and Cointegration

Tests of Purchasing Power Parity.” International Journal of Forecasting 14 (June 1998), pp. 171-186.Frenkel, Jacob A. “Purchasing Power Parity: Doctrinal Perspective and Evidence from the 1920s.” Journal of International Economics (May 1978), pp. 169-192.______., “Flexible Exchange Rates, Prices, and the Role of News: Lessons from the 1970s.” Journal of Political Economy (August 1981), pp. 665-705.Fung, Hung-Gay and Wai-Chung, Lo. “Deviations from Purchasing Power Parity.” Financial Review (November 1992), pp. 553-570.Geweke, J., and E. Feige. “Some Joint Tests of the Efficiency of Markets for Forward Foreign Exchange.” Review of Economics and Statistics (October 1979), pp. 334- 341.Goldberg, L.G., T.G. Gosnell, and J. Okunev. “Purchasing Power Parity: Modeling and Testing Mean Reversion.” Journal of Banking & Finance 21 (July 1997), pp. 949-966.Hakkio, Craig S., “Interest Rates and Exchange Rates - What Is the Relationship?” Economic Review, Federal Reserve Bank of Kansas City (November 1986), pp. 33-43.______., “Is Purchasing Power Parity a Useful Guide to the Dollar?” Economic Review,

Federal Reserve Bank of Kansas City, (Third Quarter 1992), pp. 37-51.Huang, Roger. “Risk and Parity in Purchasing Power.” Journal of Money, Credit, and Banking (August 1990), pp. 338-356.Kahn, George A. “Inflation and Disinflation: A Comparison across Countries.” Economic Review, Federal Reserve Bank of Kansas City, (February 1985), pp. 23- 42.Kim, Yoonbai. “Purchasing Power in the Long Run: A Cointegration Approach.” Journal of Money, Credit and Banking (November 1990), pp. 491-503.Koveos, Peter, and Bruce Seifert, “Purchasing Power Parity and Black Markets.” Financial Management (Autumn 1985), pp. 40-46.Krugman, Paul R. “Purchasing Power Parity and Exchange Rates.” Journal of International

Economics (August 1978), pp. 397-407.Madura, Jeff, and E. Joe Nosari. “Speculative Trading in the Eurocurrency Market.” Akron

Business and Economic Review (Winter 1984), pp. 48-52.Manzur, Meher. “An International Comparison of Prices and Exchange Rates: A New Test of Purchasing Power Parity.” Journal of International Money and Finance (March 1990), pp. 75-91.Mishkin, Frederic S., “Are Real Interest Rates Equal Across Countries? An Empirical

Investigation of International Parity Conditions.” Journal of Finance (December 1984), pp. 1345-1357.

Moosa, I.A. and R.H. Bhatti. “Testing Covered Interest Parity Under Fisherian Expectations.” Applied Economics 28 (January 1996), pp. 71-74.

Norrbin, S.C. and C.M. Conover. “How Much is Purchasing Power Parity Worth?” Quarterly Journal of Business & Economics 37 (Spring 1998), pp. 49-62.

O Connell, P.G. “The Overvaluation of Purchasing Power Parity.” Journal of International Economics 44 (February 1998), pp. 1-19.

Thomas, Lee R., “A Winning Strategy for Currency-futures Specualtion.” Journal of Portfolio Management (Fall 1985), pp. 65-69.Thornton, Daniel L. “Tests of Covered Interest Rate Parity.” Review, Federal Reserve Bank of St. Louis (July-August 1989), pp. 55-66.Tootell, Geoffrey M.B., “Purchasing Power Parity Within the U.S.” New England Economic Review, July/August 1992, pp. 15-24.Whitt, Joseph A., Jr. “Purchasing-Power Parity and Exchange Rates in the Long Run.” Economic Review, Federal Reserve Bank of Atlanta (July-August 1989), pp. 18- 32.

Whitt, Joseph A. Jr., Paul D. Koch, and Jeffrey A. Rosensweig, “The Dollar and Prices: An Empirical Analysis.” Economic Review, Federal Reserve Bank of Atlanta (October

1986), pp. 4-18.Wolff, Christian. “Forward Foreign Exchange Rates, Expected Spot Rates, and Premia: A Signal-Extraction Approach.” Journal of Finance (June 1987), pp. 395-406.

Chapter 9:

Bakshi, G.S. and A. Naka. “Unbiasedness of the Forward Exchange Rates.” Financial Review 32 (February 1997), pp. 145-162.Bekaert, Geert, and Robert J. Hodrick. “On Biases in the Measurement of Foreign Exchange Premiums.” Journal of International Money and Finance (April 1993), pp. 115-138.Bilson, John F. “The Speculative Efficiency Hypothesis.” Journal of Business (July 1982), pp. 435-451.Cavaglia, Stefano, William F.C. Verschoor, and Christian C.P. Wolff. “Further Evidence on Exchange Rate Expectations.” Journal of International Money and Finance (February 1993), pp. 78-98.Chiang, Thomas C. “On the Predictors of the Future Spot Rates - A Multi-Currency

Analysis.” The Financial Review (February 1986), pp. 69-83.Cornell, Bradford. “Spot Rates, Forward Rates and Exchange Market Efficiency.” Journal of Financial Economics (August 1977), pp. 55-66.Cornell, Bradford, and J. Kimball Dietrich. “The Efficiency of the Market for Foreign Exchange Under Floating Exchange Rates.” Review of Economics and Statistics (February 1978), pp. 111-120.Finnerty, J.E., J. Owers, and F.J. Creran. “Foreign Exchange Forecasting and Leading Economic Indicators: The U.S.- Canadian Experience.” Management International Review, no. 2 (1987), pp. 59-70.Frankel, Jeffrey. “Tests of Rational Expectations in the Forward Exchange Market.” Southern Economic Journal (April 1980), pp. 1083-1001.Giddy, Ian H., and Gunter Dufey. “The Random Behavior of Flexible Exchange Rates:

Implications for Forecasting.” Journal of International Business Studies (Spring 1975), pp. 1-32.

Goodman, Stephen H. “Foreign Exchange Rate Forecasting Techniques: Implications for Business and Policy.” Journal of Finance (May 1979), pp. 415-427.

_______., “No Better Than the Toss of a Coin.” Euromoney (December 1978), pp. 75- 85.Hansen, Lars Peter, and Robert J. Hodrick. “Forward Exchange Rates as Optimal Predictors of Future Spot Rates: An Econometric Analysis.” Journal of Political Economy (October 1980), pp. 829-853.Ito, T., R.K. Lyons, and M.T. Melvin. “Is There Private Information in the FX Market? The Tokyo

Experiment.” Journal of Finance 53 (June 1998), pp. 1111-1130.Levich, Richard M. “How the Rise of the Dollar Took Forecasters by Surprise.” Euromoney (August 1982), pp. 98-111._______., “Are Forward Exchange Rates Unbiased Predictors of Future Spot Rates?” Colombia Journal of World Business (Winter 1979), pp. 49-61._______., “Currency Forecasters Lose Their Way.” Euromoney (August 1983), pp. 140-

148.Levich, Richard M., and Lee R. Thomas III. “The Significance of Technical Trading-Rule

Profits in the Foreign Exchange Market: A Bootstrap Approach.” Journal of International Money and Finance (October 1993), pp. 451-474.

Longworth, David. “Testing the Efficiency of the Canadian U.S. Exchange Market Under the Assumption of a No Risk Premium.” Journal of Finance (March 1981), pp. 43-49.

Kho, B. “Time-Varying Risk Premia, Volatility, and Technical Trading Rule Profits: Evidence from Foreign Currency Futures Markets.” Journal of Financial Economics 41 (June 1996), pp. 249-290.

Klibanoff, P., O. Lamont, and T.A. Wizman. “Investor Reaction to Salient News in Closed-End Country Funds.” Journal of Finance 53 (April 1998): pp. 673-699.

Madura, Jeff. “Detecting Bias in Forward Exchange Rates.” Journal of Business Forecasting (Fall 1983), pp. 19-20.Martens, M. and P. Kofman. “The Inefficiency of Reuters Foreign Exchange Quotes.” Journal of

Banking & Finance 22 (March 1998), pp. 347-366.Neely, C., P. Weller, and R. Dittmar. “Is Technical Analysis in the Foreign Exchange Market

Profitable? A genetic Programming Approach.” Journal of Financial & Quantitative Analysis 32 (December 1997), pp. 405-426.

Ott, Mack and Paul T.W.M. Veugelers. “Forward Exchange Rates in Efficient Markets: The Effects of News and Changes in Monetary Policy Regimes.” Review, Federal Reserve Bank of St. Louis (June-July 1986), pp. 5-15.

Rosenberg, Michael R. “Is Technical Analysis Right for Currency Forecasting?” Euromoney (July 1981), pp. 125-130.

Sweeney, Richard J. “Beating the Foreign Exchange Market.” Journal of Finance (March 1986), pp. 163-182.Wolff, Christian. “Exchange Rates, Innovations, and Forecasting.” Journal of International

Money and Finance (March 1988), pp. 49-62.

Chapter 10:

Adler, Michael, and Bernard Dumas. “Exposure to Currency Risk: Definition and Measurement.” Financial Management 13, no. 2 (Summer 1984), pp. 41-50.

Beaver, William, and Mark Wolfson. “Foreign Currency Translation Gains and Losses: What Effect Do They Have and What Do They Mean.” Financial Analysts Journal (March-

April 1984), pp. 28-36.Bodnar, Gordon M., and William M. Gentry. “Exchange Rate Exposure and Industry

Characteristics: Evidence from Canada, Japan, and the USA.” Journal of International Money and Finance (February 1993), pp. 29-45.

Chamberlain, S., J.S. Howe, and H. Popper. “The Exchange Rate Exposure of U.S. and Japanese Banking Institutions.” Journal of Banking & Finance 21 (June 1997), pp. 871-892.

Choi, J.J. and E. Elyasiani. “Derivative Exposure and the Interest Rate and Exchange Rate Risks of U.S. Banks.” Journal of Financial Services Research 12 (October/December 1997), pp. 267-286.

Choi, Jongmoo Jay. “A Model of Firm Valuation with Exchange Exposure.” Journal of International Business Studies (Summer 1986), pp. 153-160.

Flood, Eugene, Jr., and Donald R. Lessard. “On the Measurement of Operating Exposure to Exchange Rates: A Conceptual Approach.” Financial Management (Spring 1986). pp. 25-36.Glen, Jack, and Philippe Jorion. “Currency Hedging for International Portfolios.” Journal of Finance (December 1993), pp. 1865-1886.He, J. and L.K. Ng. “The Foreign Exchange Exposure of Japanese Multinational Corporations.”

Journal of Finance 53 (April 1998), pp. 733-753.Hu, X. “Macroeconomic Uncertainty and the Risk Premium in the Foreign Exchange Market.”

Journal of International Money & Finance 16 (October 1997), pp. 699-718.Hung, Juan. “Assessing the Exchange Rate’s Impact on U.S. Manufacturing Profits.” FRBNY Quarterly Review (1992-93), pp. 44-63.Jacque, Laurent L. “Management of Foreign Exchange Risk: A Review Article.” Journal of International Business Studies (Spring-Summer 1981), pp. 81-99.

Johnson, C.B. “The Effect of Exchange Rate Changes on Geographic Segment Earnings of U.S.-Based Multinationals.” Journal of International Financial Management & Accounting 7 (Spring 1996), pp. 24-49.

Jorion, Philippe. “The Exchange Rate Exposure of U.S. Multinationals.” Journal of Business (July 1990), pp. 331-336._____., “The Pricing of Exchange Rate Risk in the Stock Market.” Journal of Financial and Quantitative Analysis (September 1991), pp. 363-376.Kwok, Chuck C.Y. “Examining Event Study Methodologies in Foreign Exchange Markets.” Journal of International Business Studies (Second Quarter 1990), pp. 189-224.Lessard, Donald R., and John B. Lighthouse. “Volatile Exchange Rates Can Put Operations at

Risk.” Harvard Business Review (July-August 1986), pp. 107-114.Luehrman, Timothy A. “The Exchange Rate Exposure of a Global Competitor.” Journal of International Business Studies (Second Quarter 1990), pp. 225-242.Madura, Jeff. “Empirical Measurement of Systematic Exchange Rate Risk.” Journal of Portfolio Management (Summer 1983), pp. 43-46.______., “Assessment of Exchange Rate Risk from Various Country Perspectives.”

International Review of Economics and Business (July 1990), pp. 655-666.Madura, Jeff, and E. Joe Nosari. “Utilizing Currency Portfolios to Mitigate Exchange Rate Risk.” Colombia Journal of World Business (Spring 1984), pp. 96-99.Nance, Deana R., Clifford W. Smith Jr., and Charlses W. Smithson. “On the Determinants of Corporate Hedging.” Journal of Finance (March 1993), pp. 267- 284.Soenen, Luc. “The Optimal Currency Cocktail - A Tool for Strategic Foreign Exchange

Management.” Management International Review 25, no. 2 (1985), pp. 12-22.

Chapter 11:

Berkman, H., M.E. Bradbury, and S. Magan. “An International Comparison of Derivatives Use.” Financial Management 26 (Winter 1997), pp. 69-73.

Bodnar, Gordon M., and William M. Gentry. “Exchange Rate Exposure and Industry Characteristics: Evidence from Canada, Japan, and the USA.” Journal of International Money and Finance (February 1993), pp. 29-45.

Boothe, Robert, and Jeff Madura. “Reducing Exposure to Exchange Rate Risk: A Case Study.” Long-Range Planning (June 1985), pp. 98-101. Calderon-Rossell, Jorge R. “Covering Foreign Exchange Risks of Single Transactions: A Framework for Analysis.” Financial Management (Autumn 1979), pp. 78-85.Chrystal, K. Alec. “A Guide to Foreign Exchange Markets.” Review, Federal Reserve Bank of St. Louis (March 1984), pp. 5-18.Dufey, Gunter, and S.L. Srinivasulu. “The Case for Corporate Management of Foreign Exchange Risk.” Financial Management (Winter 1983), pp. 54-62.Geczy, C., B.A. Minton, and C. Schrand. “Why Firms Use Currency Derivatives.” Journal of

Finance 52 (September 1997), pp. 1323-1354.Ghosh, A. and R. Clayton. “Hedging with International Stock Index Futures: An Intertemporal

Error Correction Model.” Journal of Financial Research 19 (Winter 1996), pp. 477-491.Glen, Jack, and Philippe Jorion. “Currency Hedging for International Portfolios.” Journal of Finance (December 1993), pp. 1865-1886.Hammer, Jerry A., “Hedging Performance and Hedging Objectives: Tests of New

Performance Measures in the Foreign Currency Market.” Journal of Financial Research (Winter 1990), pp. 307-324.Hekman, Christine R. “Measuring Foreign Exchange Exposure: A Practical Theory and Its Application.” Financial Analysts Journal (September-October 1983), pp. 59- 65.Huang, R.D. “Management and Control of Foreign Exchange Risk.” Journal of Finance 52 (December 1997), pp. 2211-2214.

Hung, Juan. “Assessing the Exchange Rate’s Impact on U.S. Manufacturing Profits.” FRBNY Quarterly Review (1992-93), pp. 44-63.Jacque, Laurent L. “Management of Foreign Exchange Risk: A Review Article.” Journal of International Business Studies (Spring-Summer 1981), pp. 81-99.Jorion, Philippe. “The Pricing of Exchange Rate Risk in the Stock Market.” Journal of Financial and Quantitative Analysis (September 1991), pp. 363-376.Kaufold, Howard, and Michael Smirlock. “Managing Corporate Exchange and Interest Rate Exposure.” Financial Management (Autumn 1986), pp. 64-72.Kwok, Chuck. “Hedging Foreign Exchange Exposures: Independent vs. Integrative

Approaches.” Journal of International Business Studies (Summer 1987), pp. 33- 52.Lessard, Donald R., and John B. Lightstone. “Volatile Exchange Rates Can Put Operations at

Risk.” Harvard Business Review (July-August 1986), pp. 107-114.Logue, Dennis E., and George S. Oldfield. “Managing Foreign Assets When Foreign Exchange Markets Are Efficient.” Financial Management (Summer 1977), pp. 16-22.Madura, Jeff. “Assessment of Exchange Rate Risk from Various Country Perspectives.”

International Review of Economics and Business (July 1990), pp. 655-666.______. “Hedging With American Currency Options: A Five-Year Appraisal.” Journal of Business and Economic Perspectives (Spring 1990), pp. 35-38.______. “The Real Costs of Hedging in the Forward Exchange Market: An Empirical

Investigation.” Management International Review, no. 2 (1984), pp. 24-27.Madura, Jeff, and Richard Fosberg. “Intertemporal Exchange Rate Risk: Implications for

Corporate Exposure.” International Review of Economics and Business (October-November 1988), pp. 1053-1060.Madura, Jeff, and E. Joe Nosari. “Utilizing Currency Portfolios to Mitigate Exchange Rate Risk.” Columbia Journal of World Business (Spring 1984), pp. 96-99.Madura, Jeff and L.A. Soenen. “Asymmetric Risk Aversion and the Real Costs of Hedging in the Foreign Exchange Market.” European Journal of Accounting and Finance (July- August 1985), pp. 304-309.Madura, Jeff and E. Theodore Veit. “Use of Currency Options for International Cash

Management.” Journal of Cash Management (January-February 1986), pp. 42- 48.Makin, John H. “Portfolio Theory and the Problem of Foreign Exchange Risk.” The Journal of Finance 33 (May 1978), pp. 517-534.Nance, Deana R., Clifford W. Smith Jr., and Charles W. Smithson. “On the Determinants of Corporate Hedging.” Journal of Finance (March 1993), pp. 267-284.Rodriguez, Rita M. “Corporate Exchange Risk Management: Theme and Aberrations.” Journal of Finance (May 1981), pp. 427-439.______., “Management of Foreign Exchange Risk in U.S. Multinationals.” Sloan

Management Review (Spring 1978), pp. 31-49.Soenen, Luc A. “Risk Diversification Characteristics of Currency Cocktails.” Journal of

Economics and Business (May 1989), pp. 177-189.Soenen, L.A., and E.F. Van Winkel. “The Real Costs of Hedging in the Forward Exchange Market.” Management International Review, no.1 (1982), pp. 53-59.Srinivasulu, S.L. “Currency Denomination of Debt: Lessons from Rolls-Royce and Laker

Airways.” Business Horizons (September-October 1983), pp. 19-23.Stanley, Marjorie T., and Stanley B. Block. “Portfolio Diversification of Foreign Exchange Risk: An Empirical Study.” Management International Review, no. 1 (1980), pp. 83-92. Swanson, Peggy, and Stephen Caples. “Hedging Foreign Exchange Risk Using Forward

Foreign Exchange Markets: An Extension.” Journal of International Business Studies (Spring 1987), pp. 75-82.Varela, O. and A. Naka. “Forward Hedging the Exchange Risks of U.S. Equity Investments in the

U.K., Germany and France.” Financial Review 32 (August 1997), pp. 527-544.

Westerfield, Janice M. “How U.S. Multinationals Manage Currency Risk.” Business Review (March-April 1980), pp. 19-27.

Chapter 12:

Bodnar, Gordon M., and William M. Gentry. “Exchange Rate Exposure and Industry Characteristics: Evidence from Canada, Japan, and the USA.” Journal of Internatinal Money and Finance (February 1993), pp. 29-45.

Boothe, Robert, and Jeff Madura. “Reducing Exposure to Exchange Rate Risk: A Case Study.” Long-Range Planning (June 1985), pp. 98-101.Calderon-Rossell, Jorge R. “Covering Foreign Exchange Risks of Single Transactions: A

Framework for Analysis.” Financial Management (Autumn 1979), pp. 78-85.Capel, J. “A Real Options Approach to Economic Exposure Management.” Journal of International

Financial Management & Accounting 8 (1997), pp. 87-113.Chow, E.H., W.Y. Lee, and M.E. Solt. “The Economic Exposure of U.S. Multinational Firms.”

Journal of Financial Research 20 (Summer 1997), pp. 191-210.Chow, E.H., W.Y. Lee, and M.E. Solt. “The Exchange-Rate Risk Exposure of Asset Returns.”

Journal of Business 70 (January 1997), pp. 105-123.Glen, Jack, and Philippe Jorion. “Currency Hedging for International Portfolios.” Journal of Finance (December 1993), pp. 1865-1886.Hung, Juan. “Assessing the Exchange Rate’s Impact on U.S. Manufacturing Profits.” FRBNY Quarterly Review (1992-93), pp. 44-63.Jacque, Laurent L. “Management of Foreign Exchange Risk: A Review Article.” Journal of International Business Studies (Spring-Summer 1981), pp. 81-99.Jorion, Philippe. “The Pricing of Exchange Rate Risk in the Stock Market.” Journal of

Financial and Quantitative Analysis (September 1991), pp. 363-376.Kanas, A. “Exchange Rate Economic Exposure When Market Share Matters and Hedging

Using Currency Options.” Management International Review 36 (First Quarter 1996), pp. 67-84.Kaufold, Howard, and Michael Smirlock. “Managing Corporate Exchange and Interest Rate Exposure.” Financial Management (Autumn 1986), pp. 64-72.Kim, Y. “Stock Price Reaction to International Investment and Divestiture and Management of

Currency Operating Exposure.” Journal of Economics & Business 49 (September/October 1997), pp. 419-437.

Logue, Dennis E., and George S. Oldfield. “Managing Foreign Assets When Foreign Exchange Markets Are Efficient.” Financial Management (Summer 1977), pp. 16-22.Madura, Jeff. “Assessment of Exchange Rate Risk from Various Country Perspectives.”

International Review of Economics and Business (July 1990), pp. 655-66.Madura, Jeff, and E. Joe Nosari. “Utilizing Currency Portfolios to Mitigate Exchange Rate Risk.” Columbia Journal of World Business (Spring 1984), pp. 96-99.Madura, Jeff, and Alan L. Tucker. “Intertemporal Shifts in Actual and Anticipated Exchange Rate Volatility.” Journal of Global Business (Summer 1990), pp. 5-10.Nance, Deana R., Clifford W. Smith Jr., and Charles W. Smithson. “On the Determinants of Corporate Hedging.” Journal of Finance (March 1993), pp. 267-284.O’Brien, T.J. “Accounting Versus Economic Exposure to Currency Risk.” Journal of Financial

Statement Analysis 2 (Summer 1997), pp. 21-29.Srinivasulu, S.L. “Currency Denomination of Debt: Lessons from Rolls-Royce and Laker

Airways.” Business Horizons (September-October 1983), pp. 19-23.Westerfield, Janice M. “How U.S. Multinationals Manage Currency Risk.” Business Review (March-April 1980), pp. 19-27.Yang, James G.S. “Managing Multinational Exchange Risks.” Management Accounting

(February 1986), pp. 45-52.

Chapter 13:

Aggarwal, R. “Investment Performance of U.S.-Based Multinational Companies: Comments and a Perspective on International Diversification on Real Assets.” Journal of

International Business Studies (Spring-Summer 1980), pp. 98-104._______. “Multinationally and Stock Market Valuation: An Empirical Study of U.S. Markets and Companies.” Management International Review (1979), pp. 5-21.Agmon, Tamir, and Donald Lessard. “Investor Recognition of Corporate International

Diversification.” Journal of Finance (September 1977), pp. 1049-1058.Black, Joseph H., Jeff Madura, and Lawrence C. Rose. “Corporate Risk Response to

Competing Diversification Strategies: An International Perspective.” Journal of International Finance (Fall 1989), pp. 57-72.

Blonigen, B.A. “Firm-Specific Assets and the Link Between Exchange Rates and Foreign Direct Investment.” American Economic Review 87 (June 1997), pp. 447-465.

Cakici, N., C. Hessel, and K. Tandon. “Foreign Acquisitions in the United States: Effect on Shareholder Wealth of Foreign Acquiring Firms.” Journal of Banking & Finance 20 (March 1996), pp. 307-329.

Chen, C. and R. Su. “Do Cross-Border Acquisitions of U.S. Targets Differ from U.S. Domestic Takeover Targets?” Global Finance Journal 8 (Spring/Summer 1997), pp. 71-82.

Errunza, Vihang R., and L. Senbet. “The Effects of International Operations on the Market Value of the Firm: Theory and Evidence.” Journal of Finance (May 1981), pp. 401-417.Essayyad, Musa, and H.K. Wu. “The Performance of U.S. International Mutual Funds.”

Quarterly Journal of Business and Economics (Autumn 1988), pp. 32-46.Eun, Cheol S., and Bruce G. Resnick. “Estimating the Correlation Structure of International Share Prices.” Journal of Finance (December 1984), pp. 1311-1324.Eun, C.S., R. Kolodny, and C. Scheraga. “Cross-Border Acquisitions and Shareholder Wealth: Tests of the Synergy and Internalization Hypotheses. ”Journal of Banking & Finance 20 (November 1996), pp. 1559-1582.Fatemi, Ali M. “Shareholder Benefits from Corporate International Diversification.” Journal of Finance (December 1984), pp. 1325-1344.Fosberg, Richard H., and Jeff Madura. “Risk Reduction Benefits from International

Diversification: A Reassessment.” Journal of Multinational Financial Management, no. 1 (1991), pp. 35-42.Ghertman, Michel. “Foreign Subsidiary and Parents’ Roles During Strategic Investment and Divestment Decisions.” Journal of International Business Studies (Spring 1988), pp. 47-

67.Hisey, Karen B., and Richard E. Caves. “Diversification Strategy and Choice of Country:

Diversifying Acquisitions Abroad by U.S. Multinationals, 1978-1980.” Journal of International Business Studies (Summer 1985), pp. 51-64.

Hudgins, S.C. and B. Seifert. “Stockholder Returns and International Acquisitions of Financial Firms: An Emphasis on Banking.” Journal of Financial Services Research 10 (June 1996), pp. 163-180.

Jacquillat, Bertrand, and Bruno Solnik. “Multinationals Are Poor Tools for Diversification.” Journal of Portfolio Management (Winter 1978), pp. 8-12.Kahley, William J. “U.S. and Foreign Direct Investment Patterns.” Economic Review Federal Reserve Bank of Atlanta (November-December 1989), pp. 42-57.Kim, Wi Saeng, and Esmeralda O. Lyn. “FDI Theories and the Performance of Foreign

Multinationals Operating in the U.S.” Journal of International Business Studies (First Quarter 1990), pp. 41-54.

Madura, Jeff. “Influence of Foreign Markets on Multinational Stocks: Implications for Investors.” Review of International Economics and Business (October-November 1989), pp. 1009-1018.

______. “International Portfolio Construction.” Journal of Business Research (Spring 1985), pp. 87-95.

Madura, Jeff, and Wallace Reiff. “A Hedge Strategy for International Portfolios.” Journal of Portfolio Management (Fall 1985), pp. 70-74.Madura, Jeff, and Lawrence C. Rose. “Are Product Specialization and International

Diversification Compatible?” Management International Review no. 3 (1987), pp. 37-44.

______. “Impact of International Sales Degree and Diversity on Corporate Risk.” International Trade Journal (Spring 1989), pp. 261-276.

Mann, Catherine L. “Determinants of Japanese Direct Investment in U.S. Manufacturing Industries.” Journal of International Money and Finance (October 1993), pp. 523-542.

Officer, Dennis T., and J. Ronald Hoffmeister. “ADRs: A Substitute for the Real Thing?” Journal of Portfolio Management (Winter 1987), pp. 61-65.

Rolfe, Robert J., and David A. Ricks, Martha M. Pointer, and Mark McCarthy. “Determinants of FDI Incentive Preferences of MNEs.” Journal of International Business Studies (Second Quarter, 1993), pp. 335-355.Roll, Richard. “The International Crash of October 1987.” Financial Analysts Journal (October 1988), pp. 19-35.Rugman, Alan R. “Foreign Operations and the Stability of U.S. Corporate Earnings: Risk

Reduction by International Diversification.” Journal of Finance (March 1975), pp. 233-234.______. “International Diversification by Financial and Direct Investment.” Journal of

Economics and Business (Fall 1977), pp. 31-37.Solnik, Bruno H. “Why Not Diversify Internationally Rather Than Domestically?” Financial Analysts Journal (July/August 1974), pp. 48-54.Stevens, G. “Exchange Rates and Foreign Direct Investment: A Note.” Journal of Policy Modeling

20 (June 1998), pp. 393-401.Stulz, Rene M. “On the Determinants of Net Foreign Investment.” Journal of Finance (May 1983), pp. 459-468.Tucker Alan L. “International Investing: Are ADRs an Alternative?” AAII Journal

(November 1987), pp. 10-12.

Chapter 14:

Booth, Laurence D. “Capital Budgeting Frameworks for the Multinational Corporation.” Journal of International Business Studies (Fall 1982), pp. 114-123.

Collins, J. Markham, and William S. Sekely. “The Relationship of Headquarters Country and Industry Classification to Financial Structure.” Financial Management (Autumn

1983), pp. 45-51.Doukas, John, and Nickolas G. Travlos. “The Effect of Corporate Multinationalism on

Shareholders’ Wealth: Evidence from International Acquisitions.” Journal of Finance (December 1988), pp. 1161-1175.Froot, K.A. and J.C. Stein. “Risk Management, Capital Budgeting, and Capital Structure Policy for

Financial Institutions: An Integrated Approach.” Journal of Financial Economics 47 (January 1998), pp. 55-82.

Grenadier, S.R. and A.M. Weiss. “Investment in Technological Innovations: An Option Pricing Approach.” Journal of Financial Economics 44 (June 1997), pp. 397-416.

Harris, M. and A. Raviv. “The Capital Budgeting Process: Incentives and Information.” Journal of Finance 51 (September 1996), pp. 1139-1174.

Kester, W. Carl. “Capital and Ownership Structure: A Comparison of United States and Japanese Manufacturing Corporations.” Financial Management (Spring 1986), pp. 5-16.

Kim, Suk H., and Edward J. Farragher, and Trevor Crick. “Foreign Capital Budgeting Practices Used by the U.S. and Non-U.S. Multinational Companies.” The Engineering Economist (Spring 1984), 207-214.Oblak, David J., and Roy J. Helm, Jr. “Survey and Analysis of Capital Budgeting Methods Used by Multinationals.” Financial Management (Winter 1981), pp. 34- 41.Sick, G.A. “Real Options.” Journal of Finance 51 (December 1996), pp. 1974-1977.Stanley, Marjorie T. “Capital Structure and Cost of Capital for the Multinational Firm.”

Journal of International Business Studies (Spring-Summer 1981), pp. 103-120.Stanley, Marjorie T., and Stanley B. Block. “A Survey of Multinational Capital Budgeting.” Financial Review (March 1984), pp. 36-54.______. “An Empirical Study of Management and Financial Variables Influencing Capital

Budgeting Decisions for Multinational Companies in the 1980s.” Management International Review (November 1983), pp. 61-71.

Srinivasan, Venkat, and Yong H. Kim. “Integrating Corporate Strategy and Multinational Capital Budgeting: An Analytical Framework.” Recent Developments in International Banking and Finance (1988), pp. 381-397.

Chapter 15:

Boubakri, N. and J. Cosset. “The Financial and Operating Performance of Newly Privatized Firms: Evidence from Developing Countries.” Journal of Finance 53 (June 1998), pp. 1081-1110.Burns, Jane O. “Transfer Pricing Decisions in U.S. Multinational Corporations.” Journal of International Business Studies (Fall 1980), pp. 23-39.Choi, Frederisk D.S., and I.J. Czechowicz. “Assessing Foreign Subsidiary Performance: A Multinational Comparison.” Management International Review (April 1983), pp. 14-25.Daniels, John D., and Jeffrey Bracker. “Profit Performance: Do Foreign Operations Make a Difference?” Management International Review, no. 1 (1989), pp. 46-56.Dewenter, K.L. and P.H. Malatesta. “Public Offerings of State-Owned and Privately-

Owned Enterprises: An International Comparison.” Journal of Finance 52 (September 1997), pp. 1659-1679.

Gates, Stephen R., and William G. Egelhoff. “Centralization in Headquarters-Subsidiary Relationships.” Journal of International Business Studies (Summer 1986), pp. 71-92.

Hamel, Gary, and C.K. Prahalad. “Do You Really Have a Global Strategy?” Harvard Business Review (July-August 1985), pp. 139-148.Hines, J.R. “Dividends and Profits: Some Unsubtle Foreign Influences.” Journal of Finance 51

(June 1996), pp. 661-689.Hoffman, Richard C. “The General Management of Foreign Subsidiaries in the U.S.A.: An Exploratory Study.” Management International Review, no. 2 (1988), pp. 41- 55.Kreder, Martina, and Maria Zeller. “Control in German and U.S. Companies.” Management

International Review, no. 3 (1988), pp. 58-66.Rugman, Alan M. and Alain Verbeke. “Foreign Subsidiaries and Multinational Strategic

Management: An Extension and Correction of Porter’s Single Diamond Framework.” Management International Review (Second Quarter 1993), pp. 71- 84.

Shleifer, A. and R.W. Vishny. “A Survey of Corporate Governance.” Journal of Finance 52 (June 1997), pp. 737-783.

Chapter 16:

Bhalla, Bharat. “How Corporations Should Weigh Up Country Risk.” Euromoney (June 1983), pp. 66-72.

Boddewyn, Jean J. “Political Aspects of MNE Theory.” Journal of International Business Studies (Fall 1988), pp. 341-363.Brewer, Thomas L. “The Instability of Governments and the Instability of Controls on Funds

Transfers by Multinational Enterprises: Implications for Political Risk Analysis.” Journal of International Business Studies (Winter 1983), pp. 147-157.Chase, C.D., J.L. Kuhle and C.H. Walther. “The Relevance of Political Risk in Direct Foreign Investment.” Management International Review, no. 3 (1988), pp. 31-38.Claessens, D. and G. Pennacchi. “Estimating the Likelihood of Mexican Default form the Market

Prices of Brady Bonds.” Journal of Financial & Quantitative Analysis 31 (March 1996), pp. 109-126.

Domowitz, I., K. Glen, and A. Madhavan. “Country and Currency Risk Premia in an Emerging Market.” Journal of Financial & Quantitative Analysis 33 (June 1998), pp. 189-216.

Doz, Yves L., and C.K. Prahalad. “How MNCs Cope with Host Government Intervention.” Harvard Business Review (March-April 1980), pp. 149-157.Kobrin, Stephen J. “Political Risks: A Review and Reconsideration.” Journal of

International Business Studies (Spring-Summer 1979), pp. 67-80.Leavy, Brian. “Assessing Country Risk for Foreign Investment Decisions.” Long-Range

Planning (June 1984), pp. 141-150.Mascarenhas, B., and C. Atherton. “Problems in Political Risk Assessment.” Management International Review, no. 3 (February 1983), pp. 22-32.Petry, Glenn H. and James Sprow. “International Trends and Events in Corporate Finance

and Management: A Survey.” Financial Practice and Education (Spring/Summer 1993), pp. 21-28.Nigh, Douglas. “The Effect of Political Events on U.S. Direct Foreign Investment: A Pooled Time-Series Cross-Sectional Analysis.” Journal of International Business Studies (Spring 1985), pp. 1-17.Rajan, M. and J. Friedman. “An Examination of the Impact of Country Risk on the International

Portfolio Selection Decision.” Global Finance Journal 8 (Spring/Summer 1997), pp. 55-70.

Rivoli, P. and T.L. Brewer. “Political Instability and Country Risk.” Global Finance Journal 8 (Fall/Winter 1997), pp. 309-321.

Rodriguez, M. “Crisis and Reform in Latin America, From Despair to Hope.” Journal of Finance 52 (September 1997), pp. 1746-1752.Saini, Krishan G., and Philip S. Bates. “A Survey of the Quantitative Approaches to Country Risk Analysis.” Journal of Banking and Finance (June 1984), pp. 341- 355.Schmidt, David A. “Analyzing Political Risk.” Business Horizons (July-August 1986), pp. 43-

50.Tallman, Stephen B. “Home Country Political Risk and Foreign Direct Investment in the

U.S.” Journal of International Business Studies (Summer 1988), pp. 219-234.

Chapter 17:

Adler, Michael. “The Cost of Capital and Valuation of a Two-Country Firm.” Journal of Finance (March 1974), pp. 119-132.

_____. “International Portfolio Choice and Corporation Finance: A Synthesis.” Journal of Finance (June 1983), pp. 925-984.Bekaert, G. and C.R. Harvey. “Emerging Equity Market Volatility.” Journal of Financial

Economics 43 (January 1997), pp. 29-77.

Bolton, P. and E. Von Thadden. “Blocks, Liquidity, and Corporate Control.” Journal of Finance 53 (February 1998), pp. 1-25.

Collins, J. Markham, and William S. Sekely. “The Relationship of Headquarters Country and Industry Classification to Financial Structure.” Financial Management (Autumn

1983) pp. 45-51.Fatemi, Ali M. “The Effect of International Diversification on Corporate Financing Policy.” Journal of Business Research (January 1988), pp. 17-30.Garvey, G.T. “Marketable Incentive Contracts and Capital Structure Relevance.” Journal of

Finance 52 (March 1997), pp. 353-378.Howe, John, and Jeff Madura. “The Impact of International Listings on Risk: Implications for Capital Market Integration.” Journal of Banking and Finance (December 1990), pp. 1133-1142.Kester, W. Carl. “Capital and Ownership Structure: A Comparison of United States and

Japanese Manufacturing Corporations.” Financial Management (Spring 1986), pp. 5-16.Lee, I., S. Lochhead, S. Ritter, and Q. Zhao. “The Costs of Raising Capital.” Journal of Financial Research 19 (Spring 1996), pp. 59-74.Lee, Kwang Chul, and Chuck C.Y. Kwok. “Multinational Corporations vs. Domestic

Corporations: International Environmental Factors and Determinants of Capital Structure.” Journal of International Business Studies (Summer 1988), pp. 195- 217.

McCauley, Robert N., and Steven A. Zimmer. “Explaining International Differences in the Cost of Capital.” FRBNY Quarterly Review (Summer 1989), pp. 7-28.

Meek, G.K., and S.J. Gray. “Globalization of Stock Markets and Foreign Listing Requirements: Voluntary Disclosures by Continental European Companies Listed on the London Stock

Exchange.” Journal of International Business Studies (Summer 1989): pp. 315-336.Myers, Stewart C. “The Capital Structure Puzzle.” Journal of Finance (July 1984), pp. 575-592.Petry, Glenn H., and James Sprow. “International Trends and Events in Corporate Finance and Management: A Survey.” Financial Practice and Education Spring/Summer 1993), pp. 21-28.Prowse, Stephen D. “The Structure of Corporate Ownership in Japan.” Journal of Finance (July 1992), pp. 1121-1140.Rahman, M. “Investment Opportunities and Multinationality: Evidence from Capital Structure

Changes.” Journal of Financial Research 20 (Fall 1997), pp. 423-434.Saudagaran, Shahrokh. “An Empirical Study of Selected Factors Influencing the Decision to List on Foreign Stock Exchanges.” Journal of International Business Studies (Spring 1988), pp. 101-127.Sekely, William S., and J. Markham Collins. “Cultural Influences on International Capital

Structure.” Journal of International Business Studies (Spring 1988), pp. 87-100.Senbet, Lemma W. “International Capital Market Equilibrium and the Multinational Firm

Financing and Investment Policies.” Journal of Financial and Quantitative Analysis (September 1979), pp. 425-450.Stanley, Margorie T. “Capital Structure and Cost of Capital for the Multinational Firm.”

Journal of International Business Studies (Spring-Summer 1981), pp. 103-120.

Chapter 18:

Adler, Michael, and Bernard Dumas. “The Exposure of Long-Term Foreign Currency Bonds.” Journal of Financial and Quantitative Analysis (November 1980), pp. 973-994.

“Coping with Globally Integrated Financial Markets.” Quarterly Review, Federal Reserve Bank of New York (Winter 1987), pp. 1-5.

Cossin, D. and H. Pirotte. “Swap Credit Risk: An Empirical Investigation on Transaction Data.” Journal of Banking & Finance 21 (October 1997), pp. 1351-1373.

Fatemi, Ali. “The Effect of International Diversification on Corporate Financing Policy.” Journal of Business Research (January 1988), pp. 17-30.

Finnerty, Joseph E., Thomas Schneeweis, and Shantoram P. Hegde. “Interest Rates in the Eurobond Markets.” Journal of Financial and Quantitative Analysis (September 1980), pp. 743-755.

Fu, Q. “In the Valuation of an Option to Exchange One Interest Rate for Another.” Journal of Banking & Finance 20 (May 1996), pp. 645-653.

Halpern, P. and J. Rumsey. “A Note on Market Efficiency, Institutional Practice, and Economic Constraints in the Experience of the Canadian Bond Market.” Journal of Banking & Finance 21 (January 1997), pp. 113-123.Kidwell, David S., M. Wayne Marr, and G. Rodney Thompson. “Eurodollar Bonds:

Alternative Financing for U.S. Companies.” Financial Management (Winter 1985), pp. 18-27.Liu, Y. Angela, and L. Paul Hsueh. “Tax Effect on the Debt Denomination Decision of

Multinational Projects.” Journal of International Business Studies (First Quarter 1993), pp. 145-154.

Madura, Jeff, and Ann Marie Whyte. “International Linkage of Credit Risk Among Countries.” International Review of Economics and Business (March 1991), pp. 255-265.

Madura, Jeff, and Richard Fosberg. “The Impact of Financing Sources on Multinational Projects.” Journal of Financial Research (Spring 1990), pp. 61-69.Mahajan, Arvind, and Donald R. Fraser. “Dollar Eurobond and U.S. Bond Pricing.” Journal of International Business Studies (Summer 1986), pp. 22-36.Park, Y.S. “Currency Swaps as a Long-Term International Financing Technique.” Journal of International Business Studies (Winter 1984), pp. 47-54.Rhee, S. Ghon, Rosita P. Chang, and Peter E. Koveos. “The Currency-of-Denomination Decision for Debt Financing.” Journal of International Business Studies (Fall 1985), pp. 143-150.Samant, A. “An Empirical Study of Interest Rate Swap Usage by Nonfinancial Corporate

Business.” Journal of Financial Services Research 10 (March 1996), pp. 43-57.

Chapter 19:

Paun, D.A. and A. Shoham. “Marketing Motives in International Countertrade: An Empirical Examination.” Journal of International Marketing 4 (1996), pp. 29-47.

Stover, R.D. “Third-Party Certification in New Issues of Corporate Tax-Exempt Bonds: Standby Letter of Credit and Bond Rating Interaction.” Financial Management 25 (Spring 1996), pp. 62-70.

Chapter 20:

Biger, Nahum. “Exchange Risk Implications of International Portfolio Diversification.” Journal of International Business Studies (Fall 1979), pp. 64-74.Eaker, M.R., and J. Lenowitz. “Multinational Borrowing Decisions and the Empirical Exchange Rate Evidence.” Management International Review, no.1 (1986), pp. 24-32.Finney, Malcolm, and Nigel Meade. “A Practical Approach to Corporate Borrowing and

Exchange Rate Risk.” Euromoney (October 1978), pp. 191-197.Folks, William R. “Optimal Foreign Borrowing Strategies with Operations in Forward Exchange Markets.” Journal of Financial and Quantitative Analysis (June 1978), pp. 245-254.

Junge, G. and P. Aerni. “Financing Emerging Markets: The Role of Cross-Border Bank Loans.” Journal of Lending & Credit Risk Management 79 (March 1997), pp. 32-39.

Levy, Haim. “Optimal Portfolio of Foreign Currencies with Borrowing and Lending.” Journal of Money, Credit, and Banking (August 1981), pp. 325-341.Lin, Antsong, and Peggy E. Swanson. “Measuring Global Money Market Interrelationships: An Investigation of Five Major World Currencies.” Journal of Banking and Finance (June 1993), pp. 609-628.Madura, Jeff. “Borrowing Abroad: How to Choose the Best Mix of Foreign Currencies.”

Journal of Business Forecasting (Winter 1982-83), pp. 9-11.______. “Model for Financing in International Money Markets.” International Review of

Economics and Business (October-November 1986), pp. 1049-1056.______. “Development and Evaluation of International Financing Models.” Management

International Review 25, no. 4 (1985), pp. 17-27. Madura, Jeff, and E. Joe Nosari. “Optimal Portfolio of Foreign Currencies with Borrowing and Lending.” Journal of Money, Credit, and Banking (November 1982), p. 531.Palmer, M. and T.B. Sanders. “A Model for Diversifying International Loan Portfolios.” Journal of

Financial Services Research 10 (December 1996), pp. 359-372.

Chapter 21:

Abdallah, Wagdy M. “How to Motivate and Evaluate Managers with International Transfer Pricing Systems.” Management International Review, no. 1 (1989), pp. 65-71.Angelini, P., G. Maresca, and D. Russo. “Systematic Risk in the Netting System.” Journal of

Banking & Finance 20 (June 1996), pp. 853-868.Bekaert, G. and M.S. Urias. “Diversification, Integration and Emerging Market Closed-End

Funds.” Journal of Finance 51 (July 1996), pp. 835-869.Cotner, John, and Neil Seitz. “A Simplified Approach to Short-Term International

Diversification.” Financial Review (May 1987), pp. 249-266.Darbar, S.M. and P. Deb. “Co-Movements in International Equity Markets.” Journal of Financial Research 20 (Fall 1997), pp. 305-322.Grosse, R. “Financial Transfers in the MNE: The Latin America Case.” Management

International Review 26 (1986), pp. 33-44.Haugen, R.A. and N.L. Baker. “Commonality in the Determinants of Expected Stock Returns.”

Journal of Financial Economics 41 (July 1996), pp. 401-439.Kadapakkam, P., P.C. Kumar, and L.A. Riddick. “The Impact of Cash Flows and Firm Size on

Investment: The International Evidence.” Journal of Banking & Finance 22 (March 1998), pp. 293-320.

Levy, Haim. “Optimal Portfolio of Foreign Currencies with Borrowing and Lending.” Journal of Money, Credit, and Banking 13 (August 1981), pp. 326-341.Lewis, Karen K. “The Behavior of Eurocurrency Returns Across Different Holding Periods and Monetary Regimes.” Journal of Finance (September 1990), pp. 1211-1236.Liljeblom, E., A. Loflund, and S. Krokfors. “The Benefits from International Diversification for Nordic Investors.” Journal of Banking & Finance 21 (April 1997), pp. 469-490.Lin, Antsong, and Peggy E. Swanson. “Measuring Global Money Market Interrelationships: An Investigation of Five Major World Currencies.” Journal of Banking and Finance (June 1993), pp. 609-628.Madura, Jeff, and E. Joe Nosari. “Global Money Management: One Approach.” Financial Executive (June 1984), pp. 42-47.______. “Optimal Portfolio of Foreign Currencies with Borrowing and Lending.” Journal of Money, Credit, and Banking (November 1982), pp. 531.______. “Speculation in International Money Markets.” Atlantic Economic Journal (July

1983), pp. 87-90.

______. “Speculative Trading in the Eurocurrency Market.” Akron Business and Economic Review (Winter 1984), pp. 48-52.Rouwenhorst, K.G. “International Momentum Strategies.” Journal of Finance 53 (February 1998),

pp. 267-284.Santis, G. and B. Gerard. “International Asset Pricing and Portfolio Diversification With Time-

Varying Risk.” Journal of Finance 52 (December 1997), pp. 1881-1912.Soenen, L.A. “International Cash Management: A Study of the Practices of U.K.-Based

Companies.” Journal of Business Research (August 1986), pp. 345-354.Srinivasan, Venkat, and Yong H. Kim. “Payments Netting in International Cash Management:

A Network Optimization Approach.” Journal of International Business (Summer 1986), pp. 1-20.Swanson, Peggy E. “The International Transmission of Interest Rates.” Journal of Banking and Finance (December 1988), pp. 563-573.Swanson, Peggy E., and William S.Y. How. “Portfolio Diversification by Currency

Denomination: An Approach to International Cash Management with Implications for Foreign Exhchange Markets.” Quarterly Review of Economics and Business (Spring

1986), pp. 95-103.Tang, Roger Y.W. “Environmental Variables of Multinational Transfer Pricing: A U.K.

Perspective.” Journal of Business, Finance, and Accounting (Summer 1982), pp. 179-189.