Finance

In studying the development and growth of the petroleum industry in oil-importing developing countries (OIDCs), three such countries - Argentina, India, and Korea - were selected as a diverse yet representative sample and were examined using an intensive case-study method. The data indicate that the evolution of the oil industry in these nations has encountered both difficulties and opportunities, with several underlying concerns conflicting with one another. Development of the petroleum industry in these countries necessitated a continuously shifting balance of requirements. Concurrent with this development was the erosion of concentration within the worldwide petroleum industry, once controlled by the multinational oil companies (MNOCs). This erosion made it possible for the developing oil-consuming nations to play a larger role in their local petroleum industries. An analysis of ten oil-importing developing countries showed that the first operations taken over by these countries were operations that allowed the nations flexibility in varying crude sources (that is, refineries). As the MNOCs have lost access to their cheap Middle East crude, the disincentive to develop OIDC sources is dissipating. To date, however, oil exploration in the OIDCs has decreased. The exploration and development of this crude will depend on the capital and technology available to the OIDCs. At present, the MNOCs remain the most-efficient entities to offer these resources. This book reviews the role of the international financial institutions (IFIs) - such as the World Bank and the OPEC and Arab Funds - with particular attention to IFI involvement as a catalyst, encouraging the MNOCs to participate in OIDC oil operations.

... Description/Abstract, It was not until after the 1973 oil embargo that the American public realized the power of oil ... the role of oil in the blockade against Cuba, American policy in Asia, the arms race in the Middle East, and the US position on the law of the sea at the United Nations. ...

This book surveys and compares eight project finance agencies in countries belonging to the Organization for Economic Cooperation and Development (OECD). These agencies provide an important stimulus to economic development in the Third World. Their services are valuable to businessmen in OECD nations wishing to penetrate overseas markets, to businessmen in developing nations seeking capital, and to governments in developing countries. By comparing the specific characteristics of the agencies, this book is a valuable tool for companies seeking investment assistance as well as governments hoping to attract foreign investment.

This paper aims to identifying managerial mindset by constructing a cognitive or integrative geocentrim index. Going international is either an extension of successful domestic business operations or a requirement for remaining competitive. It is imperative for firms to be a part of the international market. Therefore, firms should want to know how internationalized are their operations. To gain such knowledge requires measuring the degree of internationalization, which, in turn, is related to “managerial mindset”

This book surveys and compares eight project finance agencies in countries belonging to the Organization for Economic Cooperation and Development (OECD). These agencies provide an important stimulus to economic development in the Third World. Their services are valuable to businessmen in OECD nations wishing to penetrate overseas markets, to businessmen in developing nations seeking capital, and to governments in developing countries. By comparing the specific characteristics of the agencies, this book is a valuable tool for companies seeking investment assistance as well as governments hoping to attract foreign investment.

Depending on their location, outliers in returns can substantially bias ordinary least-squares estimates of beta. We introduce a new beta estimate that is resistant to outliers that cause the most bias in OLS estimates but produces estimates similar to OLS for outlier-free data. ...

An examination of the market reaction to Federal Reserve policy easings from 1989 to 1992 suggests that these actions were mostly unexpected and were not viewed to be persistent. Changes in the intended trading range for the federal funds rate had their greatest impact on the near-term outlook, but those effects diminished as the investing horizon lengthened. By this interpretation,