AIB Newsletter - Third Quarter 2001� 1

AIB Newsletter is published quarterly by theAcademy of International Business

Secretariat. For information, please contact: James R. Wills, Jr., AIB Exec. Secretary or

Laurel King, Managing Director, 2404 Maile Way,

University of Hawai‘i, CBA C-306,Honolulu, Hawai‘i 96822 U.S.A.

Tel: (808) 956-3665 • Fax: (808) 956-3261 E-mail: aib@cba.hawaii.edu

www.aibworld.net Newsletter Staff:

Layout - Eric FongEditing - Karen Iwamoto

Copyright © 2001 Academy of International Business

ISSN: 1520-6262

AIB NNeewwsslleetttteerrT H I R D Q U A R T E R 2 0 0 1V O L . 7 , N O . 3

...Continued on Page 6

I N S I D E T H I S I S S U E

AIB 2001 1President’s Letter 2Member Updates 4AIB Insights 11Chapters 23Announcements 25Advertisements 27Membership Forms 30

This year’s AIB Conference in Sydney, Australia will be held in the sum-mer—Australia-time, November 16-19. Attendees can look forward tosome fun times in the land down under.

As part of this year’s Conference, we at host school AGSM have organised awide range of events that will give you a taste of Australian culture and cuisine, achance to explore some of Sydney’s highlights and an opportunity to "go bush" inthe surrounding areas. There will be lots of activities in store for you on the firstday of the Conference. You can book most of these activities through the AGSMconference website www.aib.agsm.edu.au. If you want to do these activities onanother day, the contact details are provided in the descriptions of "Things To DoWhen You Arrive" (page 6), so you can book them directly for the day of yourchoice.

Additionally, we’ve included information about other things you might wantto include in your itinerary. All prices listed are approximate and in Australiandollars. We will be keeping this information up-to-date on our web site, so checkthere regularly.

Read on for a brief summary of what’s in store for you in Australia.

Conference Events

Official Opening Reception of the AIB ConferenceThe Presidential Reception on Friday evening will be a wine tasting, spon-

sored by Southcorp Wines. Australian wines enjoy an enviable reputation forquality and Southcorp owns some of the best and most recognisable wines inAustralia. Delegates will enter a "wine tunnel" where they can taste some of thevarieties of wines available from all over Australia and talk with wine makers

Conference Details from Sydney

InsightsThe second issue ofAIB Insights is here!Included in this issueare articles by NancyAdler, Sam Antrobus,

David Ricks, andAllan Bird.

See page 11.

The AIB would like to expressits heartfelt sympathy for

the victims and their lovedones of the tragedies of

September 11, 2001.

We hope that all AIBmembers will do what they can

to help end terroristic acts around the world.

Sydney 2001 and Puerto Rico 2002

hotel and meeting registration information is

available under EVENTS atwww.aibworld.net

2 � AIB Newsletter - Third Quarter 2001 p r e s i d e n t ’ s l e t t e r

EXECUTIVE BOARDPresident

Stephen J. KobrinWharton SchoolUniversity of Pennsylvania

Immediate Past PresidentJosé de la TorreThe Anderson School at UCLA

Vice President - 2001 ProgramBernard YeungStern School, New York University

Vice President - 2002 ProgramLorraine EdenMays College, Texas A&M University

Vice President of AdministrationDaniel Van Den BulckeUniversity of Antwerp - RUCA

Executive SecretaryJames R. Wills, Jr.University of Hawai‘i at Manoa

CHAPTER CHAIRPERSONS-South Africa Chapter-

Cyril V. Francis, University of Pretoria

-Japan Chapter-Masataka Ota, Waseda University

-Korea Chapter-Dong-Kee RheeSeoul National University

-Pacific Basin Chapter-Aspy P. PaliaUniversity of Hawai‘i at Manoa

-Southeast Asia Chapter-T.S. ChanLingnan University, Hong Kong

-Western Europe Chapter-J.J. Duran HerreraUniversidad Autonoma de Madrid

-United Kingdom Chapter-James H. TaggartUniversity of Glasgow

-Canada Chapter-Terri R. Lituchy, Concordia University

-Midwest USA Chapter-Stewart MillerMichigan State University

-Northeast USA Chapter-Rajib SanyalThe College of New Jersey

-Southeast USA Chapter-Robert D. Goddard, IIIAppalachian State University

-Southwest USA Chapter-Syed Tariq AnwarWest Texas A&M University

-Western USA Chapter-“Ram” Sundaresan RamThunderbird

-Chile Chapter-Carlos FuentesUniversidad Gabriela Mistral

JOURNAL OF INTERNATIONALBUSINESS STUDIESThomas L. Brewer, EditorGeorgetown University

Catherine Langlois, Deputy EditorGeorgetown University

EXECUTIVE SECRETARIATLaurel King, Managing Director

L e t t e r f r o m t h e P r e s i d e n t

Dear Colleagues:The AIB lost a wonderful colleague and friend when Steve

Guisinger died unexpectedly of complications following sur-gery on July 3rd. Steve, who was a Professor of InternationalManagement at the University of Texas at Dallas, made majorcontributions to both scholarship and policy. (A more completeobituary can be found on the next page.) He was a mentor tocountless students from all over the world and will be sorelymissed, but not forgotten. Steve had an all too rare ability totake his work and his students very seriously, but to look at him-self and the world around him with a wonderful sense of humorand playfulness. We will pay tribute to Steve Guisinger inSydney.

Our Annual Meeting is shaping up as an extraordinaryevent. AIB Vice-President Bernie Yeung reports a total of 456 submissions, up almost 40%from our very successful 2001 Phoenix meeting. Our strategy of meeting in diverse geo-graphic locations is paying off, as 54% of the submissions are from scholars located outsideof the United States reflecting the very global nature of AIB. (Twenty-four percent are fromEurope, 17% from Asia and the Pacific and 12% from Australia and New Zealand.) Over 300people will be involved in the meeting as presenters, discussants, and session chairs.

Sydney is one of the world’s great cities, combining a very cosmopolitan and modernambience with great natural beauty and access to some of the worlds finest beaches. TimDevinney and Anne Fitzsimmons of AGSM, our host school, have put together an excitingprogram of special events including pre-conference tours (a climb of the Harbour Bridge forthe more adventurous), a wine tasting as an opening event and a final gala dinner at theSydney Town Hall. I hope to see all of you in Sydney at the meetings in November. Pleasetake a minute to check out their meeting web site at www.aib.agsm.edu.au. It contains a greatdeal of information about the Sydney region and the meeting itself. Registration details are onthe AIB website at www.aibworld.net.

The most important task that the AIB Executive Board has undertaken this year is to selectan Editor for JIBS, as Tom Brewer’s term ends on June 30, 2002. We have completed a verythorough and deliberate selection process and we are pleased to announce that Arie Lewin,who is Professor of Business Administration and Sociology at the Fuqua School at DukeUniversity and Director of the Duke CIBER will be the next Editor-in-Chief of JIBS, begin-ning his three year term on July 1st. Arie has already begun the transition process, and hasnamed five Associate Editors including Donald Lessard of MIT, Tamer Cavusgil of MichiganSate, Lary Fahr of HUST, Joan-Enric Ricart of IESE and Henk Volberda of Erasmus.

As many of you are aware, the 2002 AIB Annual Meeting will be held in Puerto Ricofrom June 28th to July 1st. AIB Vice-President Lorraine Eden is hard at work putting togeth-er the program and events. The Executive Board has decided to make this move to early sum-mer permanent and the 2003 Annual Meeting will be held in the United States in late June orearly July. We will make the final site selection at our fall Board meeting in Sydney andannounce it shortly thereafter.

I speak for the entire Board in asking that everyone share any thoughts, suggestions orideas with any of us at any time. AIB is a truly global organization with our members spreadthroughout the world. However, the Net allows all of us to be in instant communication andwe urge you to get in touch with any or all of us by any means.

Regards,

AIB PresidentStephen J. Kobrin

AIB Newsletter - Third Quarter 2001� 3p r e s i d e n t ’ s l e t t e r

J I B S - N e w E d i t o r

Arie Lewin, Fuqua School, Duke University and

Director of the Duke CIBER

Arie Lewin is a very able scholar andhas demonstrated success as theFounding Editor of Organizational

Science, building it into a major and widelyrespected journal. Arie will be in Sydney andlooks forward to everyone’s ideas about thefuture of JIBS as well as the opportunity todiscuss his plans for the editorial structure andreview process.

JIBS faces the same challenge as AIB as awhole: how to maintain its position as the pre-eminent international business academic jour-nal in an environment where the disciplinaryjournals (such as those of the Academy ofManagement) are publishing an increasingnumber of articles with substantial interna-tional content. Arie Lewin faces a dauntingtask of maintaining the broad disciplinary baseand traditions of JIBS while facing up toincreased competition for both authors andreaders. He will need all of our help to accom-plish that goal and insure that JIBS remains atthe head of the pack.

Arie will work closely with Tom Brewerand Catherine Langlois during the transitionperiod. Every AIB member owes a deep debtof gratitude to both Tom and Catherine whohave put a great deal of effort into JIBS duringtheir term as Editors. They both have done anexcellent job in difficult circumstances. Iknow that they will be of invaluable help toArie Lewin and his team during the transitionprocess.

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I n M e m o r y o f S t e p h e n G u i s i n g e rJanuary 14, 1941 - July 3, 2001

Steve Guisinger, long-time member of the Academy ofInternational Business and professor of international management atthe University of Texas at Dallas, passed away on July 3 of this year.His energetic support of the AIB and his presence at the annual meet-ings will be dearly missed by all. Steve was a friend, colleague and aninspiration to all who knew him.

Steve died unexpectedly of a heart attack while undergoing sur-gery for stomach cancer. He was 60 years old. He leaves behind threedaughters, Victoria Guisinger, Amari Guisinger, and AlexandraGuisinger, as well as one grandchild, and Sheila Barnes, his partner ofmany years.

Those close to him will remember him for his fine sense of humorand kind heart.

"Steve was an energetic and upbeat person who was always apleasure to be around," said AIB president Stephen J. Kobrin in arecent message to the AIB-L listserv. "While he was a very dedicatedand serious scholar, he had a wonderful sense of humor. He lovedjokes and was the only one I knew who kept them in a data base onhis palm pilot."

Steve’s students will remember him as someone who was alwayswilling, and oftentimes went out of the way, to mentor them. He tookpersonal pride in their accomplishments and successes.

He earned a bachelor’s degree in economics from Yale Universityin 1963. He received a master’s degree in public administration fromHarvard University in 1965. In 1970 he earned a doctorate in eco-nomics, also from Harvard. He taught at Southern MethodistUniversity from 1970-1976. Since 1976, he has been with UTD’sschool of management. He was a past president of the DallasEconomists Club, a founding member of the Dallas Committee onForeign Relations, and an elected member of the Council of ForeignRelations.

Steve traveled extensively, visiting more than 40 countries as aconsultant to the World Bank, the International Finance Corp., theOrganization for European Cooperation and Development and theHarvard Institute for International Development. He lived in Pakistanfor two years on a Ford Foundation Project.

In his memory, his family has asked the University of Texas atDallas to set up a scholarship fund for international students.

"He was so proud and supportive of all his students, but particu-larly those from abroad," his daughter Alexandra said. "We thought itwould be nice if we could continue his support in at least some form."

Contributions to his memorial fund can be addressed to:

Stephen Guisinger Memorial Scholarship Fund for International StudentsUTD Development OfficeP.O. Box 830688, MP13, Richardson, TX 75083-0688

Update on Li Shaomin

On 25 July 2001, China deported AIBmember Li Shaomin, City University ofHong Kong, who had been detained andaccused of spying by the Chinese govern-ment on February 25, 2001. He toldreporters he was happy to be home andreunited with his family, and to see all of hisfriends. Adding that it had been a long jour-ney home.

4 � AIB Newsletter - Third Quarter 2001 M E M B E R U P D A T E S

�Memberson the Move

�

JEFFREY S. ARPAN, the James F. Kane Professor of InternationalBusiness, was recently named one of ten “Southerners to Watchin Globalization” by Southern Growth (Summer 2001) magazine,a publication of the Southern Growth Policies Board. He wascited as “one of the cornerstones of the nationally renownedMaster of International Business Studies (MIBS) program [at theMoore School of Business] ... consistently ranked among the bestin the nation ... [the] MIBS program gives the state, and the Southas a whole, a higher profile and major competitive advantage ininternational business.”In addition to his influence through research, teaching, and exec-utive education in the international business arena, the magazinesays “Arpan was also influential in the early years in helping theSouthern Growth Policies Board develop its internationalresearch agenda.” Among the “Ten to Watch”, Arpan is in thecompany of Andrew Young, former U.S. ambassador to theUnited Nations, two-term mayor of Atlanta, and Congressman;and Richard Riley, U.S. Secretary of Education under Clinton andformer governor of South Carolina.

JAGDEEP S. CHHOKAR has been appointed Dean of the IndianInstitute of Management, Ahmedabad India.

PERVEZ N. GHAURI, The editor of International Business Review(IBR) and Professor of Marketing and International Business atthe Faculty of Management & Organization, University ofGroningen in the Netherlands spent 9 months of his sabbaticalleave at CIBER, Michigan State University in the United States.He worked on a couple of research projects with Tamer Cavusgil,together with whom he also finished the book manuscript, "DoingBusiness in Emerging Markets: Entry and NegotiationStrategies", to be published by Sage. After his sabbatical, Ghaurihas moved to Manchester School of Management, UMIST(University of Manchester, Institute of Science and Technology)in the United Kingdom, as Professor in International Business. AtUMIST his main responsibility is to develop a center ofInternational Business education and research. The editorialoffice for the journal, IBR, has also moved to UMIST inManchester. His new email address is: P.Ghauri@umist.ac.uk.

EARL F. GIBBONS has been appointed Dean of the School ofBusiness and Economics at Longwood College in Virginia.

HARRY G. HARRIS, Visiting Professor at the University ofCalifornia, Davis, traveled to Argentina in March 2001 at the invi-tation of the American Embassy in Buenos Aires. He met withsenior government officials and private sector leaders and gave aseries of lectures and speeches on the current state of hemisphere

JUST OFF T H E P R E S S

ILAN ALON (State University of New York at Brockport) andDIANNE WELSH (John Carroll University) have recently pub-lished two edited books - International Franchising in EmergingMarkets: Central and Eastern Europe and Latin America, andInternational Franchising in Emerging Markets: China, India,and Other Asian Countries. These books are published by CCH,Inc. (http://onlinestore.cch.com; fax number 847-267-2400). AIBmembers can get 10% off for 2 or more copies.

J. JAY CHOI, Laura H. Carnell Professor of Finance andInternational Business at Temple University, started a new bookseries, International Finance Review, with Elsevier Science (JAIimprint). It publishes theme-oriented annual volumes in interna-tional finance, global capital markets, multinational financial

trade policies and globalization issues. In May 2001 he was alsoinvited by the American Embassy in Warsaw, Poland to presentmajor speeches to two global telecommunications and broadcastconferences.

MICHEL LAROCHE, John Molson School of Business, ConcordiaUniversity in Montreal has been appointed the Royal BankDistinguished Professor of Marketing, and he is organizing theRoyal Bank Research Seminar on the Influence of Culture onService to take place September 28 and 29 in Montreal. Last May1st, he was selected 2001 Marketing Personality (category ofbusiness consultant and professor) by the Montreal Chapter of theAmerican Marketing Association. In May and June he wasVisiting Professor at the IAE in Aix-en-Provence (University ofAix-Marseilles). On October 17, he is to be awarded a Doctor ofScience honoris causa by the University of Guelph (Ontario).

JAGJIT SINGH, Executive President,International Institute of Marketing &Management has been unanimouslyelected as the Chairman, Deli (NationalCapital Region) Chapter of theAssociation of Indian ManagementSchools. He is the Founder of the Instituteof Marketing & Management and cur-rently its Executive President-cum-SeniorProfessor. He holds a Ph.D. degree inBusiness Organisation & Managementfrom the University of Nebraska, USA, as a Fullbright Scholar.He was with Esso Standard Eastern as a Marketing Analyst; hastaught at the Universities of Rhode Island and Nebraska in theUSA, and Jamnalal Bajaj Institute at Mumbai; and worked withover 100 organizations as a consultant, including UN Bodies. Hehas been an Expert Member of the All India Council for TechnicalEducation (AICTE), Government of India and is the HonoraryCommercial Attache in India for the State of Nebraska, USA.

AIB Newsletter - Third Quarter 2001� 5M E M B E R U P D A T E S

management and related issues. Future issues planned includeCorporate Finance and Asset Management in Changing Japan,and Corporate Governance and Financial Restructuring inKorea. Please contact J. Jay Choi (jjchoi@astro.temple.edu) ifyou are interested in submitting an article or editing a volume.

FAROK J. CONTRACTOR has edited Valuation of Intangible Assetsin Global Operations (Westport, CT and London, Quorum Books,2001). There are two aspects to the book. First, explain its meth-ods, benchmarks and techniques which put a monetary value onintangible assets. Second, it examines the strategic context forintellectual property valuation in global companies. The bookcovers intellectual property strategy in global firms, and coversvaluation techniques for the transfer or sale of brands, licensesand other intangible assets, and valuing human capital. Severalchapters target international tax, transfer pricing, and the pharma-ceutical, and software sectors. Contributors include expert practi-tioners from Big-5 accounting/consulting companies and academ-ics from five nations.

LARRY FEICK (University of Pittsburgh) and MARTY ROTH

(University of South Carolina) have just published CountryManager, along with co-authors Stu James and Mike Deighan atInterpretive Software. Country Manager is an international mar-keting simulation game.

Participants work for the toothpaste brand management teamat All-Star Brands. They inherit a situation in which the domestic(US) market has matured, and the head of the ConsumerHealthcare Division has identified Latin America as the bestpotential source of future growth for the division. The objective isto decide how best to enter and expand in this potentially lucra-tive market. Unfortunately for the management team, other inter-national competitors are already in place and expanding their dis-tribution, while local firms still dominate the traditional channels.From there, participants decide which of the six Latin Americancountries to enter, which demographic and benefit-based cus-tomer segments to target, the channels to motivate, how best tocommunicate their message to the customer, which SKUs to offer,as well as from which country to manufacture products. The gamecan be used in international marketing classes, international busi-ness classes with a strong market entry and marketing component,and marketing management or strategy courses in which a stronginternational component is desired.

The simulation software runs under Windows95/98/ME/NT/2000 and the participant manual (2000,Interpretive Software, ISBN 1-885837-28-3) includes the case,detailed operating instructions, issues in making decisions ascountry manager, issues in international marketing, and detailedeconomic and cultural information for each country. AnInstructor’s manual is also included with sample course syllabiand assignments, PowerPoint slides. For more information, pleasecontact Marjorie Adams at Interpretive Software at 1-800-SIMUL8R , email country_manager@interpretive.com or visitthe website at www.interpretive.com to find the demo version.

GEERT HOFSTEDE (IRIC, Tilburg University, the Netherlands),has published a completely re-written Second Edition of his 1980classic Culture's Consequences with the new sub-title:

Comparing Values, Behaviors, Institutions and OrganizationsAcross Nations (Thousand Oaks CA: Sage Publications, 2001.596pp, ISBN 0-8039-7323-3 hardcover.) Sixty percent of the lit-erature reviewed dates from after 1980, including all significantapplications of Hofstede's paradigm since its appearance. A one-day seminar at IRIC, Tilburg University, the Netherlands on April27 was devoted to the appearance of this new book, with 225 par-ticipants from 35 countries. Speakers included Harry Triandis,Shalom Schwartz and Ronald Inglehart. See alsohttp://iric.kub.nl.

EUGENE D. JAFFE, and ISRAEL D. NEBENZAHL, of Bar-IlanUniversity, Israel, have published National Image andCompetitive Advantage: The Theory and Practice of Country-of-Origin Effect (Copenhagen Business School Press, 2001. ISBN:8716135164). The book provides a structured in-depth analysis ofthe dynamic relationships between brand, country and productimages, including guidelines for managerial action. Subjects cov-ered include country of original labeling requirements, the use ofthe ‘made-in’ label as a trade barrier and the role of brand andcountry images in the age of eCommerce. For more information,visit www.cbspress.dk.

ARVIND K. JAIN has edited The Political Economy of Corruption,the second volume in the Routledge Contemporary EconomicPolicy Issues series, July 2001. The volume addresses the politi-cal environment of corruption and includes contributions by polit-ical scientists, economists, lawyers and philosophers. The objec-tive of the volume is to present theoretical and practical explana-tions, as well as empirical examinations of these explanations, forthe existence of “grand” or political corruption. Details of this andpreviously edited volumes by the same author (Economics ofCorruption, Kluwer Academic) can be viewed at www-com-merce.concordia.ca/jain/TPECpromo.htm.

MASAAKI KOTABE (Temple University) and RICHARDO LEAL

(COPPEAD, Federal University of Rio de Janeiro) announce theirrecent book, Market Revolution in Latin America: Beyond Mexico(New York: Elsevier Science, 2001 ISBN 0-08-043897-0). Thisbook offers a compilation of in-depth analyses of trade adn liber-alization movements in Latin America (particularly MERCO-SUR), examines managerial issues related to collaborating withLatin American companies, and explore macro- and micro-finan-cial implications of investing in Latin American countries. Formore information, please visit http://www.elsevier.nl/inca/publi-cations/store/6/2/1/9/0/5/index.htt.

ALLEN J. SCOTT, University of California at Los Angeles, ispleased to announce the publication of Global City-Regions:Trends, Theory, Policy (Oxford and New York: Oxford UniversityPress). The book will be of interest to business analysts concernedwith issues of competitiveness, economic geography, and global-ization. Among the twenty-two chapters are major statements byKenichi Ohmae, Michael Porter, and James Wolfensohn.

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about the distinctive characteristics of thewines. Then, you get to test your knowl-edge and have some fun as you try to iden-tify the "mystery wines" at the end! Thiswill be a fun night to catch up with eachother over some of the best wines in theworld.

The Executive of the Year Awards(Sunday 18th November) will host a beertasting at the Powerhouse Museum--one ofSydney’s best museums. Lion Nathan,brewers of Hahn, Tooheys and VictoriaBitter, will sponsor the evening.

The Gala Dinner (Monday 19thNovember) will be held at Sydney’s his-toric Town Hall. Our guest speaker, GarethEvans, is a former Australian ForeignMinister who now serves on theInternational Crisis Management Groupbased in Brussels.

Our other plenary speakers represent awide cross section of Australian societyand promise to have some lively andinsightful discussions. More details atwww.aib.agsm.edu.au.

Things To Do When You Arrive

Sydney is one of the world’s greatcities. It is a thriving, harbourside metrop-olis with more than 4 million people.There is an enormous range of activities tosuit every budget, level of fitness and inter-est. Listed below are just a few samples ofthings to do while you are visiting Sydney.If you are interested in these, we recom-mend booking your place, as some of theseattractions are extremely popular, particu-larly on weekends.

WINE: AIB Memberswill have the opportu-nity to participate in a

wine tasting at theconference opening,

sponsored bySouthcorp Wines.

Visitors to Sydneyalso have the option

to join the HunterValley Wine Tour. Tobook on the tour, go

towww.aib.agsm.edu.au

or emailannefi@agsm.edu.au

The following websites provide more information on what to do in Sydney and surrounding areas:

www.citysearch.com.auwww.sydney.com.au

www.ninemsn.com.au/sydneyguidewww.lonelyplanet.com

www.sydneyaquarium.com.au

...continued from cover

Harbour Cruise

Sydney Ferries run regular commuter ferryservices to all points on Sydney Harbour, Manlyand west to Parramatta. In addition, they run toursof the Harbour that visit places their regular ferryservices don’t.

The one-hour Morning Harbour Cruise departsat 10a.m. and 11:15a.m. and will take you throughthe main reach of Sydney's magnificent harbour.The cruises pass Shark & Clarke Islands, the OperaHouse, the Royal Botanic Gardens & Fort Denison,which was once a prison. Before returning toCircular Quay you will cruise under the famousSydney Harbour Bridge. Prices are approximately$15.00 (adult), $7.50 (child), $37.50 (family).

The Afternoon Harbour Cruise (2.5 hours)departs at 1p.m. Monday to Friday and is a relaxingjourney down the main harbour to Sydney Heads,followed by a tour of the maze of waterways atMiddle Harbour. The ferry passes the Opera Houseand Royal Botanic Gardens, and follows the south-ern shore past Elizabeth Bay, Double Bay, RoseBay and Watsons Bay. Prices are $22.00 (adult),$11.00 (child), and $55.00 (family).

The Evening Harbour Lights Cruise (1.5 hours)departs at 8p.m. from Monday to Saturday. Thiscruise offers a spectacular after-dark tour of themain harbour. It goes east as far as Shark Island andwest to Goat Island. This is the best way to seeSydney in full splendour, with lights in rainbowcolours, floodlights illuminating the famous fea-tures of the Opera House and Harbour Bridge, anda kaleidoscope of reflections on the rippling water.In summer, spectacular sunsets silhouette theHarbour Bridge. Prices are $19.00 (adult), $9.50(child), and $47.50 (family).

AIB Newsletter - Third Quarter 2001� 7S Y D N E Y 2 0 0 1

A c t i v i t i e s f o r F r i d a y , N o v e m b e r 1 6

Quarantine Station Tour – booking essential

From 1828, people arriving in Sydney were quarantined here ifthey were ill or their vessel was carrying disease. It is significant forits many Aboriginal sites, and for its medical, immigration and mar-itime history. As one of the few remaining places in Sydney withundisturbed bushland, it has also become a haven for endangeredplant and animal species. The station was closed in 1984 and isnow run by the National Parks and Wildlife Service. There are 90-minute tours (Mon, Wed, Fri, Sat and Sun), as well as Adult GhostTours (Wed, Fri, Sat and Sun, 7:30p.m.-10:30p.m) and Kids GhostTours (under 12 years) on Fridays only (6p.m.-8p.m. 1 adult toevery 6 children is required). The Quarantine Station is part of theSydney Harbour National Park. There is a popular beach and plen-ty of picnic spots.

Sydney Highlights Tour

We will arrange a half-day bus tour to delegates who want toget their bearings quickly and in air-conditioned comfort. Apartfrom the city area, the tour will also take you to areas outside thecentral city area such as Bondi Beach. Full commentary provided.

Hunter Valley Wine Tour

The Hunter Valley is one of Australia’s premier wine producingregions. Located at approximately a two hours drive north ofSydney, the Hunter vineyards are renowned for their crisp whitesand full-bodied red wines. The valley itself is very picturesque, sobring your camera. You will visit three premier wineries, havelunch at one of the Valley’s excellent vineyard restaurants and beback in time to test your new knowledge at the AIB OfficialOpening Wine Tasting. Costs are to be finalised but will be in theorder of A$100 ($50US).

For more information and to book any of these exciting activities,go to www.aib.agsm.edu.au

Harbour BridgeClimb – booking essential

For THE mostspectacular views ofSydney, join aBridge Climb,which will take youto the top arch of theSydney HarbourBridge. The climbtakes 3 hours andp r o f e s s i o n a lclimbers ensureyour complete safety as you walk to the summit over catwalks, lad-ders and arches. Prices are around $125 for adults and $100 for chil-dren (minimum age is 12 years).

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The Sydney Opera House and Royal Botanical Garden

The best way to see many of Sydney’s highlights is onfoot. If you've got time on your hands, walking is the bestway of seeing a good deal of the main attractions of Sydney.Most of the main tourist sights - such as the Harbour Bridge,Circular Quay, Opera House, Hyde Park Barracks Museum,Darling Harbour, The Rocks, and the Royal BotanicGardens - lie on the perimeter surrounding the central busi-ness district and are within easy walking distance fromthere. Other attractions, such as the Centerpoint Tower,Queen Victoria Building and dozens of historical buildingsare within the Central Business District.

You don't have to be all that fit, as you can always stopat any point and hop on to public transport. Explorer busestravel in a loop around most sights, so you can always bailout and take the bus.

For kids, consider a visit to Taronga Zoo. Take a ferryto the Zoo from Circular Quay and either catch the bus tothe entrance or take the Sky Rail from the ferry terminal. Ortake a ferry to Manly and visit Ocean World. Shark Feedingtimes are 11.30 am Monday, Wednesday and Friday.

Darling Harbour is one of Sydney’s premier tourist dis-tricts and offers an extensive range of activities for childrenand adults within a landscaped and relaxed environment.Attractions include the Imax Theatre (with its 8-storey highscreen), Sega World, the Australian National MaritimeMuseum (climb all over a naval destroyer) and the SydneyAquarium (where sharks, stingrays, platypus and sea lionsswim around YOU). Or just walk around and enjoy the freestreet entertainment on weekends.

Self-Guided Walking Tour of Central Business District

If you've only got a few days in Sydney and want tomake the most of it, this is the walk to do. Much of Sydney'ssights and attractions are based around the Central BusinessDistrict and in three days you can get to see heaps. Thiswalk covers Darling Harbour, The Rocks, the SydneyHarbour Bridge, the Sydney Opera House and RoyalBotanic Gardens. You can't get much better than that!

Harbourside Walks

There are numerous harbourside walks that skirt aroundvarious points of the harbour and even along the ocean surf-beach suburbs. These get you away from the hustle and bus-tle of the city and give you breathtaking views. Try theBondi to Coogee walk, which is spectacular and easy.Catch a bus to either Coogee or Bondi Beach and follow thesigns.

The Rocks is one of the most-visited parts of Sydney.Located under the Sydney Harbour Bridge, The Rocks is thefoundation place of Sydney and Australia. It is of enormoushistorical significance. It is often described as "Sydney'soutdoor museum". The Rocks is the oldest area of Sydneyand was the site of Sydney’s first slums. An outbreak ofBubonic Plague began here in the early 1900’s. However,this historic district has been transformed into a vibrantpocket of cafes and restaurants, tourist shops and stalls.Many of the historic buildings have been preserved, and thearea comes alive on weekends with a large, covered market,live music and rowdy pubs, such as the Lord Nelson,Sydney’s oldest pub and one of the few that brews its ownales.

T h e S i g h t s o f S y d n e y

�

AIB Newsletter - Third Quarter 2001� 9S Y D N E Y 2 0 0 1

"Go Bush" in Sydney’s Surroundings

The Blue Mountains

To the west of Sydney is the Blue Mountains National Park.This is a spectacular area with gorges, great bushwalking trails,waterfalls and beautiful vistas. All offer a great day trip alternative.The Blue Mountains are part of the Great Dividing Range, whichruns down the entire length of eastern Australia, and they get theirname from the bluish haze caused by the fine mist of eucalypt oilgiven off by the eucalypt trees. The mountains rise quite dramati-cally from the Sydney basin, to a height of 1100 metres. It is notuncommon for the mountains to receive snow in winter, and thereis always a significant temperature difference to Sydney. Pack apicnic and take a sweater. For more information visithttp://www.bluemts.com.au/tourist/default.htm

The Blue Mountains are easily accessible by car and train.Alternatively, Sydney Tours offer coach and four-wheel drive toursto the Blue Mountains, which includes transfers, transport andlunch. They are offering AIB delegates a 10% discount off theirnormal charges, which are $115 (coach) and $139 (4WD).Bookings can be made by emailing sydtour@ozemail.com.au.Visit their website at www.sydneytours.com.au.

The Hawkesbury River

The Hawkesbury enters the sea 30kms north of Sydney and isone of the major rivers in eastern Australia and is dotted with coves,beaches and picnic spots. A great way to see the area is to catch theRiverboat Postman, a mail delivery boat which does a 40km roundtrip every weekday for under $30. Catch a train from CentralStation in Sydney to Brooklyn, where you can join the RiverboatPostman. The boat departs twice a day. For bookings, go towww.aib.agsm.edu.au. For further details call +61 2 9985 7566.

Further Afield

Sydney is the International gateway to Australia and, as such,is linked by daily flights to every other capital city and manyregional destinations. Qantas, Ansett Airlines and Virgin Blue arethe main domestic carriers. Ansett is in receivership but is continu-ing to operate a limited schedule with the Federal Governmentguaranteeing tickets until at least earlyDecember. So they are safeto use. For latest fares, consult the carriers’ Web sites - www.qan-tas.com; www.virginblue.com and www.ansett.com.au.

Delegates should consider a visit to the world heritage listedareas of Uluru (Ayers Rock), the Great Barrier Reef (the world’slargest living organism) and Kakadu National Park in theNorthern Territory.

The Uluru-Kata Tjuta National Park is owned and operatedby the Anangu people of Central Australia and is one of the greatwonders of the world. The park covers 1,325 hectares and has beenWorld Heritage listed twice - for its natural as well as cultural sig-nificance. There are daily, direct flights to Uluru from Sydney. ForAboriginal operated tours go to www.anangutours.com.au.

Other destinations a short flight from Sydney includeMelbourne (the second-largest Greek city in the world, afterAthens), which is known for its cosmopolitan style, shopping, cafesand live music scene; and Byron Bay (fly to Ballina), a renownbeauty spot where whales pass close by on their southern migrationin October/November and where the alternative lifestyle co-existswith great surfing, diving, first class restaurants and a lively musicscene.

For program, registration and hotel information, please visitthe AIB web site at www.aibworld.net

For tours and local information, please visit the AGSM web-site at www.aib.agsm.edu.au

Booking AIB Conference Accommodation in Sydney

When booking your accommodation, you need to quote "The AIBConference".

Main Conference Hotel- Sheraton On The Park Hotel Sydney – email:sheraton_on_the_park@sheraton.com, phone +61 2 9286 6000, fax +612 9286 6565. Website: www.sheraton.com

Sydney Park Regis – email: res@parkregissydney.com.au, phone +612 9267 6511, fax +61 2 9264 2252. Website:www.parkregissydney.com.au

Hotel Ibis Darling Harbour – email: h1757@accor-hotels.com, phone+61 2 9563 0889, fax: +61 2 9563 0845

Grand Mecure Apartments Darling Harbour – email: h1807@accor-hotels.com, phone +61 2 9563 0889, fax +61 2 9563 0845

U s e f u l I n f o r m a t i o nHere is some relevant information you will find useful

in making your travel plans.

���

�$�

Official AIB ConferenceAirline

Air New Zealand is the official airlinesponsor for the conference. We willbe advising you how to make yourtravel arrangements with them onour website www.aib.agsm.edu.aushortly.

Currency

Australia uses the Australian Dollar.For up to date exchange rates, go to the following linkhttp://www10.americanexpress.com/sif/cda/page/0,1641,6707,00.aspand click onto "currency converter".As an indication, $1US buys nearlyAUS$2.

Visas

Currently, all visitors to Australiarequire a visa. Ensure that youhave one before making your travelarrangements, as airlines mayrefuse to let you board if you do notpossess a valid visa. The followingsite has useful information on visasand how to apply:http://www.immi.gov.au/visitors/index.htm

Season

The AIB Conference will be held inNovember, which is spring inAustralia. The weather is normallyquite mild to warm during the dayand evenings are balmy, but bring alight jacket or cardigan.Thunderstorms can also occur, sopack a raincoat. Average tempera-tures in Sydney in November arebetween 16C (60F) and 24C (76F).Sydney will be on Daylight Savingtime in November, so delegates canexperience longer, light eveningswith sunset around 8.30pm.

Time Difference

Delegates from North America andEurope will have to cross theInternational Date Line to reachAustralia. If travelling from theUS/Canada/South America, you willLOSE two days travelling toAustralia. Therefore, if you want toarrive early on Friday 16thNovember, you will need to com-mence your travel on Wednesday14th November. You will, however,gain those two days when youreturn.

10 � AIB Newsletter - Third Quarter 2001 N E W M E M B E R S

Elliot Adams, Univ. of Central LancashireTamir Agmon, School of Business Admin,

IsraelYusaf Akbar, Budapest Univ. of EconomicsKarl Alorbi, Univ. of StrathclydeIoannis Anonmeritis, Univ. of Central

LancashireOlusegun A. Balogun, Univ. of SarasotaConstance Bates, Florida International Univ.John M. Beehler, Wichita State Univ.Maryanne Benito, RMIT Univ.Franc Branko Sain, Buckinhamshire

Chilterns Univ.Robert BrownChris Carr, Univ. of EdinburghPalakom Chaikittisilpa, Univ. of Western

Sydney, Univ. of Thailand (ABAC)Ivy S.N. Chen, Hong Kong Polytechnic

Univ.Zhengyi Chen, Michigan State Univ.Sylvie K. Chetty, Massey Univ.William K. Choy, Univ. of South WalesDeborah Colton-Herbert, Univ. of South

CarolinaCristanna Cook, Husson CollegeKathryn Cort, Elon Univ.Gavin Cullen, RoutledgeRansford Darko, Excellence Business

FoundationRansford Darko, Excellence Business

FoundationVictor Davila, Univ. of AkronIsabelle De Voldere, Vlerick Leuven Gent

Mgmt SchoolLarry DiMatteo, Univ. of FloridaPaul Evans, INSEADFrancesca Falovo, Univ. of Central

LancashireSunny Fong, Sun MicrosystemsAnne Marie Francesco, Hong Kong Baptist

Univ.Frank Francone, Loyola Univ. Graduate

AlumnusSusan Freeman, Monash Univ.Hubert Fromlet, Blekinge Institute of

Technology/ SwedsbankGeorge Frynas, Coventry Univ.Mika Gabrielsson, Lappenranta Univ. of

TechnologyMichel Garzy, DauphineEftychios Gkakidis, Univ. of Central

LancashireLau Ching Ha Greenie, Hong Kong

Polytechnic Univ.Craig Harris, Univ. of Central LancashireDavid E. Hitchin, Pepperdine Univ.Sigrid Hofer, IIB/Stockholm School of

Economics

Joanne Huang, Univ. of Central LancashireKenneth Hunsader, Florida State Univ.Yukiko Imao, Suzuka Int'l Univ.Yumiko Iwata, Univ. of Central LancashireMarion James, Nova Southeastern Univ.Melvin H. Jameson, Univ. of Nevada, Las

VegasLucas Janssen, James Cook Univ.Debra Johnson, Univ. of Lincolnshire &

HumbersideIoannis Kakos, Univ. of Central LancashireAdrian Kamalodeen, CitigroupIoanna Karagianni, Univ. of Central

LancashireCiara N. Karlsson, Institute of International

BusinessFaizal Karolia, Univ. of Central LancashireAmal R. Karunaratna, Adelaide Univ.Chol Rae Kim, Keimyung Univ.Youngok Kim, Univ. of New South WalesAlina Kudina, Oxford Univ.Benjamin Kudo, Imanaka Kudo and

Fujimoto LLCPooja Kumar, Monash Univ.Alla Latyaeva, Kingston Univ.Lorraine Limbrick, Staffordshire Univ.Jie Liu, Manchester Metropolitan Univ.Lana Liu, Univ. of Northumbria at

NewcastleSoo Wah Low, Univ. of Kebangsaan

MalaysiaSandiago ("Jim") LunaJohn Mark, Kings College LondonPeter Massingham, Univ. of WollongongJane L. Menzies, Monash Univ.Anthony MianoNikolaos Michelinakis, Univ. of Central

LancashireNikolaos Mourtzakis, Univ. of Central

LancashireShannon Mudd, ThunderbirdAbdul Wahid Nabish, Univ. of Science,

MalaysiaM Nageb, Sumbershire Education GroupM Nageb, Sumbershire Education GroupShahnaz Naughton, Univ. of New South

WalesSin Hui Ng, Nanyang Technological Univ.George J. Niemanis, Niagara Univ.Louis Nzegwu, Univ. of Wisconsin-

PlattevilleKathleen Oconnell, Kweneng Commercial

ConsultantsMarlene Olsavsky, Pearson EducationFrancine O'Sullivan, Edward Elgar

PublishingShinji OtaOceana Ou, Univ. of Central Lancashire

Prasad Padmanabhan, San Diego StateUniv.

Nitin V. Pangarkar, National Univ. ofSingapore

Sunmi Park, Meiji Univ.Steven E. Phelan, Univ. of Texas, DallasKrairoek Pinkaeo, Bangkok Univ.Glenn Pitman, Binghamton Univ.Jennifer A. Pope, Univ. of Texas Pan

AmericanMoshe Porat, Fox School of BusinessRuby Ranjan, Monash Univ.R. Glenn Richey, Univ. of OklahomaMike Roberson, Eastern Kentucky Univ.Joanne Roberts, Univ. of Durham Business

SchoolSteve Roche, Digital Juice, Inc.Steven Rundle, Biola Univ.Matthew T. Schroeder, Univ. of California,

BerkleyRoland SchwaldAndrew Shipilov, Univ. of TorontoGeorge J Siedel, Univ. of MichiganKulwant Singh, National Univ. of SingaporeKarin Sixl-Bornemann, Institute of

International ManagementArjen Slangen, Tilburg Univ.Edward Sodmann, Fachhochschule BochumKent Springdal, Kingston Univ.David Stead, Leeds Metropolitan Univ.Chanika Suksaard, Monash Univ.Toshikazu Takahashi, Rikkyo Univ.

Graduate School BusinessWee Liang Tan, Singapore Management

Univ.Michael C. Tu, Nova Southeastern Univ.Janet Tully, Coventry Univ.Charikleia Vlachogianni, Univ. of Central

LancashireJanet Walsh, Univ. of LondonKlaus Weber, Univ. of MichiganCatherine L. Welch, Univ. of New South

WalesPeter Leung Kwong Wong, Aetna Life

Insurance CompanyGregory Worden, SGT, Inc.John K. Yabs, U.S. International Univ.,

Nairobi CampusTerushia Yamada, Yokohama Shoka Univ.Zhangming Yang, Univ. of Central

LancashireBeiqing (Emery) Yao, Katz Graduate

School of Business, Univ. of PittsburghTerry Young, Pepperdine Univ.Richard Zeltmann, Nova Southeastern Univ.Jie Zhao, Univ. of HartfordshireZheng Zhou, Univ. of Central Lancashire

N e w M e m b e r sMembers Jo in ing f rom May 24 - September 8 , 2001

AIB Newsletter - Third Quarter 2001� 11I N S I G H T S

�Academy of In

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Volume 1, No. 2, 2001InsightsIt is a pleasure to present the second issue of Insights. We hope that readers will

find it as interesting and useful as the first issue. We have been delighted withthe response to the first issue - many nice comments, people asking to use the

material in their classes, and requests to reprint the articles. This suggests thatInsights is providing a valuable service for AIB members. To continue to providethis service, we need your input – suggestions for themes or features, as well as arti-cles, comments on articles, teaching tools, blunders, reprints of speeches …. anymaterial that you think would offer ‘insights’ to colleagues.

The current issue of Insights is similar in format to the first. Once again there aretwo featured articles, some blunders, and information for use in the classroom. Weexpect to follow this format for many issues, but we also aim to be flexible in for-mat – some issues may concentrate on a particular theme or a particular location,some may be devoted to teaching, others to research, and so on. Insights is anevolving publication, intended to provide an array of material that readers will findinsightful.

The format is similar but the content is quite different. The first issue had an articleand a reaction to the article. This issue has two articles that address very dissimilartopics. The first issue had an exercise for classroom use, this issue has tips for usinga particular classroom technique. This first issue had two recent blunders, and for-tunately, this issue has two more.

The two articles in this issue of Insights illustrate the array of material that is appro-priate for this publication. I liked both articles, but for very different reasons.

The first article, by Nancy Adler, is entitled "Global Leadership: GivingOneself to Things Far Greater than Oneself". This article is written from aperspective that provides insights into Professor Adler’s personal thinking.It also provides important insights into the nature of leadership in today’sworld. I found the article both touching and thought-provoking, and, like allof Professor Adler’s work, eminently well written.

The second article, by Sam Antrobus, is entitled "Arguments For andAgainst a Monetary Union for North America". This article is a practicaldiscussion of the pros and cons of a monetary union, largely from theCanadian perspective. I found the article particularly useful in preparing for

Comments From the Editor

Comments andsuggestions

should be sent tothe Editor

Please send arti-cles and class-

room material tothe Editor for con-

sideration forupcoming Insights- consider reprintsof speeches you

have made

Readers areencouraged tosubmit com-

ments, for possi-ble inclusion infuture Insights

Please contactthe Editor withsuggestions

...continued on next page

The events of September 11, 2001, have left me, like others, in a state of shock. I share with all my colleagues a greatsense of sadness and loss and, yet, hope that somehow the world will be a better place, in spite of, or because of, the

very tragic series of events. I remember with great affection the wonderful life-size, and incredibly life-like bronze stat-ues on the plaza of the World Trade Center. These statues portrayed ordinary people, in every day activities. The events

of September 11 have reminded us to pay attention to the ordinary people in our lives, every day, everywhere. Our objective for Insights - to provide global insights - is even more important and relevant now.

12 � AIB Newsletter - Third Quarter 2001 I N S I G H T S

a class discussion on ‘dolarization’ – a topic of growing interest in the Caribbean and Latin America.As well as the two articles, this issue includes a discussion on Using Video Clips in the Classroom, provided by Allan Bird,and two blunders from David Ricks.. Allan is well-versed in the use of innovative classroom approaches, and his advice isvaluable for all of us who want to increase our effectiveness in the classroom. David’s blunders, as always, amuse whileproviding valuable lessons.

Insights is meant to be a flexible publication - we welcome submissions on a wide variety of topics, from contributors any-where in the world, in any discipline – so long as the material offers insights for people involved in International Business.Submissions and suggestions have come from the Canada, the Caribbean, England, India, New Zealand, and the USA –and we hope soon to boast of contributions from all parts of the world. We have been fortunate that leading scholars inthe international business field have contributed to the first issues of Insights, but we have also had contributions and sug-gestions from students and practitioners, and a variety of academics, at all career stages. We hope that all readers will offercontributions or suggestions, and look forward to hearing from you.

...continued from previous page

S u b m i s s i o n I n f o r m a t i o n• Submissions to Insights can be sent atany time to the Editor.

• Submissions may be electronic, byfax, or by mail. Electronic submissionsare preferred.

• Submissions will be reviewed by theEditor to ensure material is appropriatefor Insights, then the advisory boardwill comment on submissions.

• For consideration for specific editions,submissions must reach the editor by thefollowing dates:

1st Quarter: December 152nd Quarter: March 153rd Quarter: June 154th Quarter: September 15

• Articles should be approximately 2-3printed pages.

• Exercises, simulations, and othermaterial should include all the informa-tion needed for use in the classroom.Material submitted should not contra-vene any copyrights.

• Blunders should be based on real-world events and should be new - ie, notpreviously published, or disseminated in

other media. We look forward to your comments andsubmissions.

Thanks to the AIB Board for this initi-atve. Thanks to Laurel King for her sup-port and suggestions. Thanks to theAdvisory Board members for their assis-tance in preparing this issue of AIBInsights.

BJ

FAQsThe most frequently asked questionsrelate to the length and format for sub-missions to Insights. We do not havestrict guidelines for submissions. Weencourage you to send material in theformat that you believe will provide thebest insights. If we want to include thematerial, we may then ask you to makechanges to suit a particular issue. Wedo have general guidelines:

� submissions should be short (usuallyabout two printed pages, althoughthere will be both longer and shorterpieces), and

� they should be "insightful" (providingknowledge obtained by mental pene-tration - Oxford), and can be provoca-tive (inviting a reaction, stimulating aresponse – Mirriam -Webster) � necessary references should be pro-

vided as end notes

Editor

Betty Jane (BJ) PunnettManagement StudiesUniversity of the West

IndiesCave Hill, Barbados

Ph. 246-420-1796Fax 246-420-1797

eureka@caribsurf.com

Advisory Board

Jagdeep ChhokarIndian Institute of

Management, Ahmedabad,India

Terry JacksonEAM. UK

Paul SimmondsFlorida State University,

Tallahassee

David RicksUniversity of Missouri,

St. Louis

Leading Globally: Giving Oneself for Things Far Greater Than Oneself

Nancy J. Adler

McGill University, Faculty of Management1001 Rue Sherbrooke Ouest,

Montreal, Quebec, Canada H3A 1G5Tel: 514-398-4031; Fax: 514-398-3876Email: Adler@management.mcgill.ca

AIB Newsletter - Third Quarter 2001� 13I N S I G H T S

To be human is to give yourself for things far greater than yourself;To lead is to give yourself for things far greater than yourself.1

When I was 11 years old, myAustrian mother explainedto me that when she was my

age she had wanted to have at least 6children. Yet by the time she met myAmerican father, just 8 years later, sheno longer wanted any children. Losingmost of her friends and family duringWorld War II to Hitler’s terror had con-vinced her that the world was not a fitplace to raise children. Luckily, espe-cially from my perspective, my fatherconvinced my mother that within thefamily the two of them could create abubble of love, and within that bubbletheir children could grow up in safetyand happiness, protected from theinhumanity raging outside. Havinggrown up within the bubble of theirlove, and in sunny southern Californiarather than war torn Europe, I neverdoubted that our role on earth, ashuman beings and as leaders, was toexpand the bubble to encompass theworld: or as the rabbis would exhortus, to return to our original task ofTikun Olam, the restoration of the

world.

Of course, none of us can claimthat the twenty-first century entered ona safe, secure, or loving note—a noteimbued with peace, wisdom, compas-sion, and love. As we ask ourselveswhich of our twentieth-century lega-cies we wish to pass on to the childrenof the twenty-first century, we arehumbled into shameful silence. Yes,we have advanced science, technology,and commerce, but at the price of aworld torn asunder by a polluted envi-ronment, cities infested with socialchaos and physical decay, an increas-ingly skewed income distribution thatcondemns large portions of the popula-tion to poverty (including people livingin the world’s most affluent societies),and rampant physical violence contin-uing to kill people in titularly limitedwars and seemingly random acts ofviolence. No, we did not exit the twen-tieth century with pride. Unless wecollectively learn to treat each otherand our planet in a more civilized way,

it may soon become blasphemous toeven consider ourselves a civilization.2

And yet why not a more peaceful,sustainable, and compassionate societyin the twenty-first century? Why not aglobal civilization that we couldbequeath with pride to our children andour children’s children? Naively ideal-istic? Perhaps; but only if we ignorethe wisdom and approaches to learningof Adam Kahane and like-minded col-leagues around the world—people whohave dared to attempt to make a differ-ence. Only if we renege on our role asleaders and simply adapt to the future,rather than collectively attempting toimprove it. As former U.S. Secretaryof State Madeleine Albright admonish-es us, "We have a responsibility in ourtime, as others have had in theirs, notto be prisoners of history, but to shapehistory…."3

After a quarter century of conduct-ing research and consulting on globalstrategy and cross-cultural manage-ment, I have increasingly focused the

An earlier version of this article was published by MIT Press in Reflections

and they retain full copyright.

14 � AIB Newsletter - Third Quarter 2001 I N S I G H T S

last few years on the small, but rapidlyincreasingly number of women whoare among the world’s most prominentbusiness and political leaders—womenwho have served as their country’spresident or prime minister or as CEOof a major global firm.4 Perhaps it isnot surprising that at this moment inhistory, countries around the world,most for the first time, are turning towomen leaders rather than to the tradi-tional cohort of men. People want achange; they no longer want the nar-row, circumscribed leadership of thetwentieth century nor its outcomes.They hope and imagine that womenwill bring a more inclusive and com-passionate approach to leadership.

In Nicaragua, for example, formerpresident Violetta Chamorro’s abilityto bring all the members of her familytogether every week for Sunday dinnerachieved near legendary status.Symbolically, her dinners gave thenation hope that it could heal its civil-war-inflicted wounds and find a peacethat would reunite all Nicaraguans.5

Why such elevated hopes from aSunday night dinner? Because ofChamorro’s four adult children, twowere prominent Sandanistas while theother two equally prominently opposedthe Sandanistas, not an unusual split inwar torn Nicaragua.6 As ViolettaChamorro’s children told their storiesaround her dining room table, others inthe country began to believe that theytoo could "reach a deeper, more realconsensus—including around suchprofoundly important issues as unityand peace—through the telling of theirpersonal stories."7 Implicitly, theNicaraguans believed that by listeningattentively to each other, with empathy,they could hear the sacred within eachperson, their core humanity and that ofthe nation.8 It is not coincidence thatthe symbol of hope, peace and unitywas a dining room table and not aboard room table.9 Such holographiclistening, as Adam Kahane labels it—in which each story reflects the whole,

rather than merely contributing a pieceto the puzzle—opens up the possibilityof communion and oneness, of tran-scending history to create a new future:"We have the greatest capacity to makea difference when we dare to open our-selves up, to expose our most honestnightmares and our most heart-feltdreams."10

As a social thinker, Adam Kahanepoints out that leaders who make a dif-ference are extraordinarily committed,body and soul, to the changes theywant to see in the world, to goals muchlarger than themselves.11 The lives ofmany of the world’s first women lead-ers mirror commitments much largerthan themselves. For example, in herpersonal commitment, ChandrikaKumaratunga, the president of wartorn Sri Lanka, became a prism for theparadoxes of extraordinary leadership.When she was only eleven years old,her father, who was the country’sfounding father and its first prime min-ister, was assassinated, many believedue to his policies which advantagedthe Sinhalese and stripped the Tamil ofmany of their cultural rights. Hermother, who also served as prime min-ister, furthered the country’s ethnicallydivisive policies. As an adult,Kumaratunga’s husband, a politicallyinvolved citizen and noted actor, wasmurdered, in what many believe tohave been Tamil-initiated violence.With the constant and very real threatof death to her and to her children, whydid Kumaratunga choose to stay in SriLanka and to run for office? And onceshe won, how did she find the courageto tell her mother—whom she laterappointed to serve as prime minister—and the country that she was going toattempt to find a peaceful solution toSri Lanka’s seemingly interminablecivil war by sitting down with theTamil and listening to their story.Kumaratunga, with both her father andhusband murdered, chose to go outsidethe patterns of history and say,"Enough! There has to be a better

way." Her attempts at moving SriLanka toward peace and unity have byno means met with unequivocal suc-cess. Yet Kumaratunga persists, evenin the face of constant death threatsand a bomb explosion that alreadyclaimed one of her eyes. Kahanereminds us that leaders who influencehistory do so because they live the par-adox.12 They have the courage to com-mit their lives to effecting the changesthey want to see.13 At the same time,they have the courage to engage withothers—even their enemies; thecourage to give up the illusion of beingin control, to venture beyond detach-ment, and to surrender to the process.14

Will Kumaratunga be able to stay com-mitted to changing her country whileremaining open to listening to howeach faction wants to change? Will shebe able to maintain the paradox? Toparaphrase Martin Buber,15

Does Kumaratunga believe in des-tiny and also that destiny needs her;that destiny does not lead her, butrather waits for her. Can she pro-ceed toward her country’s and herown destiny without knowingwhere it waits for her? Will she beable to continue going forth withher whole being? Destiny will notturn out the way her resolve intend-ed it; but what she wants will comeabout only if she resolves to do thatwhich she can. Will she be ableneither to interfere nor to merelyallow things to happen?

While the answer will only bewritten in the months and years ahead,we know that Kumaratunga hasdemonstrated enormous courage todate to begin the journey. The chal-lenge of leadership is in the opennessto destiny and the complete commit-ment to change for the better; not insimplistic short term evaluations ofsuccess and failure.

This past year, my Jewish nephewAaron married a deeply religiousCatholic woman Karen. Although toldthat their wedding ceremony and life

AIB Newsletter - Third Quarter 2001� 15I N S I G H T S

together would be rooted in the twospiritual traditions, both families ques-tioned the reality of the young couple’spronouncement when the invitationsarrived announcing that the weddingwould be celebrated at Holy FamilyCatholic Church with a Catholic priest,and no rabbi, presiding. Only as thepriest opened the service in Hebrewwith a traditional Jewish prayer did thetension begin to reside. In one of themost moving and profoundly meaning-ful wedding ceremonies I have everattended, the priest celebrated Aaronand Karen’s unique individuality,including their two distinctly differentspiritual traditions. He made noattempt to minimize or ignore the dif-ferences between Judaism andChristianity. After the bride and groomhad exchanged vows, the priestreminded us of the hatred that has alltoo frequently separated Jewish andCatholic communities. He then askedeach of us to see Karen and Aaron assymbolic of the love that could unitethe two traditions, the love that couldreplace the all too common hatred.What more powerful symbol of globalleadership: love replacing hate, lovebridging distinct individuality, loveuniting bride and groom on their wed-ding day, love respecting and bridgingdifferences among all peoples at alltimes.

Our capacity to see and to changethe world co-evolves with our capacityto see and to change ourselves.16 Asthe marriage ceremony changed Aaronand Karen into husband and wife, sotoo did it change all of us into peoplewho more deeply understand what itmeans to unify diversity without extin-guishing individuality. As leaders, we

can never close our eyes to the com-plexity of the world or to the profound-ly influential interactions that definesociety. Goethe’s admonishes us thatleaders know themselves only to theextent that they know the world; thatthey become aware of themselves onlywithin the world, and aware of theworld only within themselves.17

To be human is to find ourselvesbehind our names.18

To lead is to find ourselves behind ournames.

E n d n o t e s

1 First half of the quote is taken fromSister Joan Chittister, in FrederickFranck, Janis Roze, and RichardConnolly’s (eds.) What Does It Mean ToBe Human? Nyack, New York:Circumstantial Productions, 1998, p.194.

2 Based on Stephan Rechtschaffen’sobservation in Timeshifting. New York:Bantam Doubleday Dell AudioPublishing, 1996.

3 From former U.S. Secretary of StateMadeleine K. Albright’s HarvardCommencement Address as reported inthe New York Times, June 6th, 1997, p.A8.

4 For a more in depth discussion ofwomen serving as global leaders, seeAdler’s "Did You Hear? GlobalLeadership in Charity’s World," Journalof Management Inquiry, Vol. 7 (No. 2),1998, pp. 135-143; "Global Leaders: ADialogue with Future History,"International Management, Vol. 1 (No.2), 1997, pp. 21-33; "GlobalEntrepreneurs: Women, Myths, andHistory," Global Focus, Vol.11 (No. 4),1999, pp. 125-134; "The Women’s

Global Leadership Forum: EnhancingOne Company’s Leadership Capacity,"Human Resource Management, Vol. 39(Nos. 2 & 3), 2000, pp. 209-225.

5 See Michelle A. Saint-Germain’s"Women in Power in Nicaragua: Mythand Reality" in Michael A. Genovese(ed.), Women as National Leaders.Newbury Park, California: Sage, 1993,p. 80.

6 Ibid.7 Kahane, op. cit.8 Paraphased from Kahane, op. cit., and

applied to the sitution in Nicaragua.9 Artist Jacqueline Hassink created a

series of photo essays on the tables ofpower (board room tables) and tables ofrelationship (dining room tables) of bothmale and female CEOs worldwide. SeeHassink’s The Table of Power.Amesterdam: Menno van de Koppel,1996 and her Queen Bees: FemalePower Stations. Amsterdam: Mennovan de Koppel, 1999.

10 Kahane, op. cit.11 Ibid12 Ibid13 Ibid14 Ibid15 Paraphrased from Martin I Buber’s I and

Thou. New York: Touchstone Books,1970.

16 Kahane, op. cit.17 Paraphased from J.W. von Goethe,

Goethe’s Scientific Studies. Translantedby D. Miller. Edited by A. P. Cottrell andD. Miller. Boston, MA: Suhkamp Insel,1985; as cited in Kahane, op. cit.

18 First half of quote from David Kriegerin Frederick Franck, Janis Roze, andRichard Connolly’s (eds.) What Does ItMean To Be Human? Nyack, New York:Circumstantial Productions, 1998, p.273.

16 � AIB Newsletter - Third Quarter 2001 I N S I G H T S

Arguments For and Against a MonetaryUnion for North America

S. J. AntrobusSchool of Management, University of Bath, Claverton Down,

Bath, BA2 7AY, United Kingdom,samantrobus@hotmail.com

Exchange rate regimes are in thenews following the economicdifficulties experienced in

Argentina and Turkey, and the continu-ing drama of the Euro. The prospect ofexpansion of the European Union intoCentral and Eastern Europe and apotential recession in Europe, providethe first real tests of the currency, andmay expose some of the weaknesses ofthe union. The choice between fixed orfloating exchange rate regimes hasbeen the source of debate for manyyears, with many high profile collaps-es of pegged exchange systems such asBritain’s exit from the EuropeanExchange Rate Mechanism (ERM) in1992 and the South-East Asian crisis in1997. However, there are also manysuccess stories where fixed exchangerates have brought calm and stability toeconomies.

Countries can adopt a number ofexchange rate regimes ranging fromfree floating to monetary union, withmanaged float, currency peg and theadoption of the currency of anothernation (most commonly ‘dollarization’or ‘euroization’) between the twoextremes. However, as Crowi com-ments, a "pegged regime invites attackand is demonstrably brittle under pres-sure." Likewise, even before the Asiancrisis, Eichengreen,ii a senior policyadviser at the IMF, had concluded thatpegged exchange rates were anachro-nistic, and that the two extremes ofcurrency union and floating exchange

rates were the only viable options. Theperceived stability and prosperity thatfixed rates bring, combined with theobvious dangers of less stable regimeshave led to increased enthusiasm formonetary unions and dollarization,with discussion in countries as diverseas Australiaiii, Mexico, South Koreaiv

and Canada.

This paper focuses on the NAFTAregion, and in particular the point-of-view of Canada, exploring the debatesurrounding the possibility of a NorthAmerican Monetary Union (using acurrency called the Amero), and con-sidering the costs and benefits of sucha union for Canada. In order to high-light the key issues, themes are drawnfrom two prominent articles on thetopic.v In recent years a combinationof three factors has led to increasinginterest in this topic, and made this arelevant issue for further study. Firstly,the Canadian dollar has continued itsdecline relative to the US dollar,falling by approximately 36% fromparity in the 1970s. This has led to arelative decline in the living standardsof Canadians when compared to theirneighbours in the USA, adding anadditional stimulus for talentedCanadians to head south of the border.vi

Many economists also argue that thedecline in the Canadian dollar is one ofthe causes of lower productivity levelsin Canada, as it provides protectionagainst international competition, thusmasking the need for investment and

improved productivity.vii

A second factor is the successfulimplementation of the Canada-US FreeTrade Agreement (CUSFTA) in 1989and the North American Free TradeAgreement (NAFTA) in 1994. Earlystudies, including that by Krueger,viii

indicate that levels of trade betweenthe signatories have increased since theagreements came into force. Finally,and probably most importantly, theintroduction of a single currency unitamongst eleven nations in Europe in1999 has sparked debate about similararrangements elsewhere in the world.Courchene and Harrisix go as far as todescribe the advent of the Euro as "awatershed in the annals of economicand monetary history".

Arguments for Monetary Union� Grubelx emphasises the static anddynamic efficiency gains realised byadopting a single currency across theregion. The most obvious is the reduc-tion in transaction costs from eliminat-ing currency exchanges in cross-bordertrade and investment. There is alsoreduced uncertainty for businesses,with more stable cash flows allowingmore accurate budgeting and moreefficient use of resources. It is difficultto quantify the actual cost savings froma currency union but clearly theywould be substantial, given the signifi-cant levels of trade between the US,Canada and Mexico. Linked to this aredynamic gains from the expansion of

AIB Newsletter - Third Quarter 2001� 17I N S I G H T S

trade between the nations because themonetary union lowers the costs ofdoing business between the nationsinvolved.� A further efficiency gain resultsfrom the reduction in Canadian interestrates. Canadian long-term governmentbonds have historically been priced ata premium over those of the US gov-ernment. This premium resulted fromthe expectation of Canadian dollardepreciation, the exchange risk associ-ated with the fluctuation of theexchange rate, and the expectation ofhigher inflation rates in Canada. Overthe 50 years to 1999, the premiumaveraged 117 basis points (bp), reach-ing highs of 350bp in the early 1980s.Grubel argues that a currency unionwould eliminate the currency risk andexpectations of higher inflation inCanada, leading to the removal ofmuch of this premium. A reduction of100bp in the cost of debt would resultin an annual cost saving of approxi-mately $6 billion for Canada’s federalgovernment, with corresponding sav-ings for provincial governments, agen-cies and corporations with fixed inter-est borrowings. The lower cost of bor-rowing would also lead to a greaterlevel of investment by industry andsubsequent productivity gains, as wellas a lower cost of housing increasingthe standard of living. � Grubel also argues that a mone-tary union leads to greater price stabil-ity because price stability is a functionof the size and diversity of a currencyarea, and the probability of opposite

and offsetting price developmentsacross industries is increased. While noattempt is made to quantify this saving,there seems to be some merit to thisargument, particularly from theCanadian point of view, as Canadaremains heavily reliant on the extrac-tion and processing of naturalresources.xi In addition to price stabili-ty, greater price transparency leads to alevelling of prices across the currencyunion, as the burden of cross-currencyprice comparisons and cost of non-domestic currency transactions areremoved. The benefits of this to theconsumer are clear. � Grubel argues forcefully thatmonetary union would also benefitCanada by imposing increased disci-pline on its labour markets, which atpresent have unionisation levels of35%, significantly higher than those ofthe US. Grubel presents evidence thatthe declining value of the Canadiandollar has created artificially high prof-its for Canadian firms. This has led tosuccessful lobbying for wage increasesfrom unionised workers, which haveinevitably spread through the rest ofthe economy, leading to a cycle ofinflation, as increasing labour costspush the price of goods higher. A mon-etary union would have the effect ofremoving this currency depreciation,and as a result would reduce the powerof the labour markets to negotiatehigher wages, thus helping Canadianfirms to improve their efficiency.

Arguments against MonetaryUnion

� The Canadian and US economiesare highly integrated, with 80% ofCanadian exports destined for the USmarket, nevertheless, Murrayxii arguesthat the different structures of the USand Canadian economies provide astrong case for monetary policy inde-pendence – an example is the impor-tance of commodity prices to Canada,where commodities account for over10% of Canadian GDP and 35% of itsmerchandise exports. Consequently,the US and Canada experience differ-ing economic reactions to commodityprice shocks (as demonstrated in fig-ure A belowxiii). � Murray also questions the extentto which Canada would be able toinfluence monetary policy within aunion, commenting that "it is unrealis-tic to think that Canadians would everhave anything more than a tokenvoice," due to the significant disparityin the sizes of the two economies, andthe fact that Canada clearly has a lotmore to benefit from such a union thanthe US. The combination of these twofactors means that the US is unlikely tomake substantial concessions on itsrole in setting monetary policy withinits own borders, and consequentlywithin the union. � Murray advocates flexibleexchange rates because of the benefitsderived from controlling monetary pol-icy. This argument is supported byrecent developments in the Eurozone,

Measure Canada USA

Absolute terms of trade correlation with oil price 0.85 -0.89

Absolute terms of trade correlation with non-oil commodity price 0.87 -0.92

The data show that for Canada, the terms of trade (the relationship between the prices at which a country sells itsexports and the prices paid for its imports) are positively correlated to the price of commodities, whereas for the USAthe correlation in negative. Movements in the relative terms of trade between the two nations will be exaggerated bymovements in the absolute terms of trade. This leads to the conclusion that different monetary policies would be requiredin each nation following a commodity price shock. Thus, a currency union would be unworkable, due to the commonmonetary policy that such a union requires.

Figure A

18 � AIB Newsletter - Third Quarter 2001 I N S I G H T S

where there are concerns that theEuropean Central Bank’s discount ratemay be out of step with the economyof one of the key constituents of themonetary union. Germany, the largestof the Eurozone economies, appears tobe in the midst of a slowdown thatrequires lower interest rates to kick-start a recovery. It is estimated that theECB rate may be at least 50bp abovethe optimum interest rate for Germany.As long as the German economy con-tinues to grow at a slower rate than therest of the Eurozone, this gap willbecome more exaggerated. TheEconomistxiv posed the question "Howlong before the Germans start yearningfor a central bank of their own?"� Murray also believes that floatingrates provide a buffer in the event of anasymmetric economic shock. In theshort-term, movements in the nominalexchange rate can offset the effects ofa shock, and help to ease the transitionto a new equilibrium if the shock isenduring. This may be of increasinglylimited value, because, since theimplementation of the FTA, only oneof Canada’s five fastest growing exportsectors has been commodity based.Four of the five sectors that experi-enced fastest contraction were com-modities, indicating a reducingdependence on commodities.

Some Conclusions andThoughts on Needed Research

Grubel argues effectively in favourof a currency union on the basis of effi-ciency gains, and supports his argu-ments with econometric data as well asevidence from studies on the expectedbenefits of the Euro. The study is lim-ited, however, in its examination of thecosts of the union. A brief examinationis made of the impact of the loss ofeconomic, political and economic sov-ereignty on Canada, only a weak caseis made for why the USA would wantto join such a union - that it is in theinterests of the US to have strong andstable neighbours, and that a NorthAmerican Monetary Union would

reduce the threat from the Euro to thesupremacy of the US dollar (with hind-sight we see that this was over empha-sised - the Euro has dropped by over20% against the US dollar since itslaunch, greatly reducing the extent towhich it may be a substitute for the UScurrency, and the US dollar’s strengthin the face of recent drops in the valueof the NASDAQ and Dow Jones, andcuts in the Federal Reserve discountrate, confirms its current position asthe predominant world currency).

On balance, while the literatureadvocating the introduction of themonetary union is compelling from aneconomic point-of-view, doubtsremain about the validity of commonfiscal policy across multipleeconomies. A further issue is why theUSA should choose to join a union.Equally, it is unclear whether therewould be the political will within theCanadian government, and supportfrom the electorate, to push throughsuch a proposal. As one advisor toPrime Minister Chretien notes, dollar-ization remains ‘completely taboo inrespectable Canadian society.’xv

Pressure for a monetary union isgreater from Mexico than it is inCanada, with the head of the MexicanBankers Association calling for mone-tary union, and a prominent businessorganisation calling for dollarization.Clearly Mexico has much to gain fromcloser ties with the USA, and a stablecurrency can only serve to increase theattractiveness of Mexico as a source offoreign direct investment for firmswishing to find a base within theNAFTA area. This is something thatCanada must bear in mind, as to someextent Mexico’s gain in attractinginward investment may be Canada’sloss. If Mexico were to pursue eitherdollarization or a monetary union withthe USA, the pressure on Canada to dolikewise would increase.

The adoption of a system ofpegged exchange rates may providethe benefits of the monetary union

without the long-term political andeconomic integration that a unionwould require, while possibly provid-ing a stepping stone towards a union.Hanke and Schulerxvi conclude that thecurrency-board system offers a "meansto establish sound money" in theAmericas, and would provide a basefrom which to evolve to a commoncurrency. However, with the recentdevelopments in Germany highlightedearlier, and the looming worldwiderecession, North America may be wellserved to wait to see what develops inthe next few years before committingitself to anything. When the time doescome to act, it seems that the benefitsof monetary union or dollarization forCanada and Mexico are clear, and thecosts to the US are limited. This oppor-tunity to strengthen the bond betweenthe NAFTA partners should certainlybe considered. More research is need-ed however.

It is useful to remember the storyof the two economists stranded on adesert island with nothing to eat butsealed tins of food, and no means ofopening them. One turns to the otherand says, "if we assume that we have atin opener…" Academics addressingthe question of monetary union need tobring a level of reality to their studies.A key question to address is whetherthere is a significant body of supportfor monetary union within bothCanada and the USA. It is also impor-tant to detail the benefits that wouldaccrue to the two countries, as identi-fying and quantifying these will bevital if the idea is to be sold to the gov-ernments and their electorates.Monetary union in North Americahighlights many of the problems asso-ciated with both fixed and floatingexchange rates. The precedent of theEuro and the possible dollarization ofMexico adds a sense of urgency to thediscussion, and should help to movethe debate from being purely theoreticto being of real practical value to poli-cymakers in the North American

AIB Newsletter - Third Quarter 2001� 19I N S I G H T S

region. Continued debate is needed, and the papers discussed have laid foundations on which further research and investi-gation can be based. It is likely that in the next few years econometric studies of the benefits of the Euro will emerge whichwill be applicable to the study of this area. Empirical research should be carried out to attempt to quantify the specific costsand benefits to all three members of NAFTA, resulting from the introduction of a monetary union. This could take the formof a scenario analysis incorporating differing values for the economic growth rates of each nation, commodity prices, intra-NAFTA trade levels, and so on.

�?

�B l u n d e r s i n I n t e r n a t i o n a l B u s i n e s sInternational business people oftenencounter some interesting signs in theirhotels while traveling overseas. Some ofthose recently reported follow (try toguess where they were found):

1. "Please leave your values at thefront desk"

2. "Visitors are expected to complainat the office between the hours of 9and 11 am daily"

3. "The flattening of underwear withpleasure of the job of the chamber-maid"

4. "The lift is being fixed for the nextday. During that time we regret thatyou will be unbearable"

Of course, people have poorly translatedEnglish into other languages as well.

"Violators will be fined" was translatedinto Spanish to say "Rapists will be

deceased" (Phoenix)

The posters and printed advertisementsto "Hear the concert of the year" were

not very effective in the Spanish speak-ing community when it was incorrectly

translated to say "Hear the concert of theanus" – what a difference one little markover an "N" can make (also in Phoenix)

Thanks to David A. Ricks(University of Missouri, St. Louis)

for sharing these

i Crow, J., (1996). "The Floating Canadian Dollar in ourFuture" in Thomas J. Courchene (ed.) Policy Frameworks fora Knowledge Economy, Volume 4 in the Bell Canada Paperson Economic and Public Policy (Kingston: The John DeutschInstitute, Queen's University) 11-36.

ii Eichengreen, B., (1995). "International MonetaryArrangements for the 21st Century." The BrookingsInstitution: Washington, D.C..

iii Ellis, E., (2001). " A Way to Stop the Aussie Dollar’s Slide?"Business Week: April, 20 2001.

iv Barro, R.J., (2001). "A ‘Yankee Imperialist’ Offers Asia aRoad Map." Business Week: June 11, 2001.

v Grubel, H.G., (1999). "The case for the Amero: the econom-ics and politics of a North American Monetary Union."Critical Issues Bulletin. Fraser Institute: Vancouver. &Murray, J., (1999). "Why Canada needs a flexible exchangerate." Paper presented at the conference "Should Canada andthe United States adopt a common currency?" WesternWashington University, April 30, 1999.

vi Harris, R.G., (2000). "The case for North AmericanMonetary Union." ISUMA 1(1), Spring 2000.

vii Courchene, T.C. & Harris, R.G., (2000). "North AmericanMonetary Union: analytical principles and operational guide-lines." North American Journal of Economics and Finance,11, pp.3-18.

viii Kruger, A.O., (2000). "NAFTA’s effects: A preliminaryassessment." The World Economy, 23(6) June, Blackwell:Oxford.

ix Courchene, T.C. & Harris, R.G., (2000). "North AmericanMonetary Union: analytical principles and operational guide-lines." North American Journal of Economics and Finance,11, pp.3-18.

x Grubel, H.G., (1999). "The case for the Amero: the econom-ics and politics of a North American Monetary Union."Critical Issues Bulletin. Fraser Institute: Vancouver.

xi Clement, N.C.; del Castillo Vera, G.; Gerber, J.; Kerr, W.A.;MacFadyen, A.J.; Shedd, S.; Zepeda, E. & Alarcón, D.,(1999). "North American economic integration: theory andpractice." Edward Elgar: Cheltenham.

xii Murray, J., (1999). "Why Canada needs a flexible exchangerate." Paper presented at the conference "Should Canada andthe United States adopt a common currency?" WesternWashington University, April 30, 1999.

xiii Roger, S. (1991). "Terms of Trade Movements in MajorIndustrial Countries." Bank of Canada Working Paper No.91-2.

xiv The Economist, (2001). "European economies: France 1Germany 0." (March 17)

xv Toulin, A., ‘Union with the US on the Table: PM’s Advisor’,National Post, 29 June 2001, http://nationalpost.com.

xvi Hanke, S. & Schuler, K., (1993). "Currency Boards for LatinAmerica," in Nissan Liviatan (ed.) Proceedings of aConference on Currency Substitution and Currency Boards,Washington: The World Bank.

(Locations for above blunders: 1:Paris 2:Athens 3:Zagreb 4: Bucharest)

Endnotes

Using Video Clips in theClassroom

Allan Bird University of Missouri, St. Louis

20 � AIB Newsletter - Third Quarter 2001 I N S I G H T S

We now work with students (be they undergradu-ates, graduates or executives) who were raisedin the highly visual world of movies and televi-

sion. In particular, television seems to have had a dramaticimpact on students’ classroom expectations in two ways.First, students expect to do more than read and listen. Theyare accustomed to taking things in visually as well as aural-ly, and at a fast pace. Lectures and even the now-popularPowerpoint presentations pale in comparison to the world ofmovies and television when it comes to communicatingcomplex, multi-layered messages. Second, students have ashorter attention span. They can, but would prefer not to, sitfor long periods of time listening, or even talking.

In response to these realities, I have sought ways topresent concepts and models through the use of movies andtelevision shows. Except for a few made-for-teaching

videos such as "Going International," few films or showsare worth spending an entire class session or two watching.Consequently, I have moved in the direction of using shortsegments, often 3 to 5 minutes in length to demonstrate spe-cific concepts. Not only do students seem to enjoy the clips,but also from their comments and their performance onexams it also appears that they are learning more.

In three sections below I share some ideas that I havegleaned from readings, workshops and discussions with col-leagues about how to use clips effectively. The first sectionaddresses some of the mechanics of presenting the clips andincorporating them into your lesson plan. The second sec-tion provides some suggestions on how to locate new clips,something that is essential in order to keep material timely.The last section contains a list of films and television showepisodes that I have found useful in my own teaching.

1. Set the stage> Make sure the tape is properly cued> Know the location of room lights and how they function (Can they be dimmed? Can you leave some areas lit?

Can you move to and from VCR and monitor controls when turning the lights on and off?)> Check the sound levels (Can the sound be heard clearly throughout the room? Does the sound come on imme-

diately? Can the volume be adjusted easily during play?)> Check sight lines (Do all seats have a clear view of the monitor? Is the monitor sufficiently large to allow all

seats to see on-screen details clearly?)Thoughts: � Consider preparing a personalized checklist of what needs to be done to prepare the rooms where you teach.

Doing so will avoid costly miscues and foul-ups which detract from the learning experience. � Because you are working with a short segment, it is important that all set up be done in advance of the start of

the session and that the transition into and out of the video segment be smooth and quick.

USING CLIPS SUCESSFULLYBased on my experience using clips in the classroom, I offer the following advice to make them a successful learning

experience, for the lecturer and students.

AIB Newsletter - Third Quarter 2001� 21I N S I G H T S

SOURCES OF VIDEO CLIPS

Many schools have excellent personnel capable of help-ing you to prepare clips for classroom presentation. Youhave to provide them with the content. That means youhave to go looking for it. For me the key is being readyto come across material. More than once I have beenwatching a show and thought to myself, "That last seg-ment would have been great for my module on ‘CulturalDifferences in Negotiating Styles’ (or some other mod-ule." Unfortunately, I wasn’t prepared, and so the mate-rial was lost. To avoid seeing, but not hanging on togood material, I would offer the following advice.

1. Have VCR, will recorda. TV Guide is your friend

i. check weekly listings for anything that mightbe interestingii. put post-it notes on the TV or VCR withbroadcast information on them

b. check out the regularsi. news programs such as 60 Minutes, 20/20.Frontline, Nightlineii. PBS regular and occasional series such asMasterpiece Theater, The Brain

c. keep one in the chamberi. keep one tape handy on which you can recordat a moment’s notice for when you come acrosssomething unexpectedly; you can transfer theclip to a clean tape or to your computer laterii. family members and friends can also recordthings for you

d. you can always erase

2. Make your local video store an allya. put together a list of movies that you think mightbe useful

i. consider the classicsii. try foreign filmsiii. stay current with new releases

b. talk to store personnel about what they might rec-ommend or what they have seen lately

i. many films are released directly to video,bypassing movie theatersii. films from cable -- HBO, Cinemax – are alsoreleased on video

3. Don’t break the lawa. some movies are worth owningb. copying a rental tape or for use other than per-sonal is illegalc. the law remains somewhat vague on some points,clarify what the policies are at your institution

2. Warm up the crowd> Don’t assume that students will be able to grasp

the point (explain why you are showing this clip;what students will learn, provide background regard-ing the clip and where it fits into the larger videofrom which it is drawn, indicate what students oughtto look for or pay attention to)

> Draw connections to lectures prior to viewing(note that the demonstration of a behavior or the con-sequence of some action will be contained in the clip,arouse interest and curiosity by mentioning that theywill see a clip which drives the point home)

> Where appropriate, comment on the cinematog-raphy or the film itself (the way in which a segmentis shot may also contain important information orshape the viewing experience, the time or location ofthe film may also be important to understanding it)

> Don’t overdo the warm-up (keep comments shortand to the point, don’t oversell or over-describe theclip, don’t interpret the clip in advance)

3. See the show> Watching in class is a communal experience (stu-

dent reactions affect the experience of those aroundthem, some students may feel uncomfortable withsome clips)

> Be sure that the class is ready (have students putdown pens and pencils, students should be comfort-able, everyone should be quiet)

4. Bring up the lights> Get students to talk (give students a chance to talk,

ask "what did you see?" questions as well as "whatdid you think?", ask students to draw parallels ormake extensions of what they saw or thought to othercontexts as well as to concepts and models they’vepreviously covered in the course, psychoanalyze theactors: what are their motives? what are they think-ing? Dissect the situation: why is it that way? howdoes it affect the actors?)

> Move on to interactive activities (re-viewing theclip - focus attention in light of discussion, cover partof the screen, turn off the sound, freeze-frame analy-sis)

Thoughts:� Consider role-playing the scene - take roles in the

clip, play the scene differently, extend the scene,change the setting

� Use field activities - observe a similar setting orbehavior and report on it, visit a site comparable tothe one in the clip and report on it, interview peoplewho have been in similar situations to find out howthey behaved

� Before & after assessments - have students writedown their expectations, beliefs, or understandingprior to seeing the clip, have students do the samething after seeing the clip, and then compare the two

22 � AIB Newsletter - Third Quarter 2001 I N S I G H T S

American Game, Japanese Rules - A comparison ofJapanese and American ways of doing things thatdraws analogies between how the two culturesapproach baseball and how they approach business.Useful in exploring differences required for culturaladjustment in differing countries. Also relates to cul-tural differences in the definition and interpretation ofimportant concepts such as "fairness."

Dances with Wolves - A US cavalryman learns to livewith a Lakota Sioux tribe. Excellent scenes dealingwith non-verbal communication within and betweencultures. Also useful for exploring the inferencesdrawn by participants in cross-cultural encounters.

Gung Ho - A humorous tale about a Japanese carmanufacturer that takes over an American plant in themid-West. Addresses cross-cultural communication,creating a third culture (neither Japanese norAmerican), cultural adjustment from both the sojourn-er and the native perspective.

Koyaanisqatsi - A striking juxtaposition of scenes ofbeauty and splendor from the natural world withimages of frenetic, technological modern society set tohaunting music. No narration. Relates well to issuesof values relating to technology and man’s controlover nature as well as issues related to sustainabledevelopment and also stress.

Last of the Mohicans - A white taken in by theMohican tribe protects and then falls in love with anEnglish woman in the midst of the French Indian wars.Relates to issues of culture clash, the ability of twocultures to achieve harmony with one another. Alsorelates to understanding context.

Local Hero - A quirky, laid-back tale about anAmerican sent to Scotland to negotiate the purchase ofa town for conversion into a refinery site. Addressespreferences in communication style, understandingand reading context, and assumptions about counter-parts in negotiations.

The Mosquito Coast - An American inventor travelsto Latin America to bring ice to indigenous people andflee the materialism of Western Society. Useful inexploring issues of cultural imperialism and variantstrains of ethnocentrism.

Remember the Titans - Based on a true story, it pres-ents the struggle for racial integration of a Virginiahigh school football team in the early 1970’s. Severalexcellent segments dealing with bridging cultural dif-ferences in communication.

Star Trek The Next Generation: A Matter of Honor(Episode 34) - Riker volunteers to serve aboard aKlingon starship as part of an officer exchange pro-gram. Relates to issues of selection and preparationfor international assignments, adjustment to host cul-tures, intercultural sensemaking and problem solvingand to cultural sensitivity.

Star Trek The Next Generation: Darmok (Episode104) - Picard and a Tamarian captain are isolated onan alien planet and forced to learn how to communi-cate with one another. Relates to issues of intercultur-al communication (both verbal and non-verbal) andsensemaking.

Witness - A young Amish boy witnesses a police-man’s murder in Philadelphia. A policeman seeks toprotect the boy and himself by hiding in the Amishcommunity. Relates well to adjusting to another cul-ture, to fitting in. Also useful in explorations of dif-ferences in cultural values related to materialism,responsibility and cultural change.

SUGGESTED VIDEOS

The following list is not intended as an exhaustive catalog of video sources for classes on international management.Rather, it is intended as a guide to possible sources of video clips as well as an illustration of the types of videos that I havefound effective. The use of clips, however, is a highly personal one. The specific segment of video to be used, the lengthof the clip, its placement within the curriculum and its relationship to various concepts and ideas is highly subjective.

AIB Newsletter - Third Quarter 2001� 23C H A P T E R N E W S

MIDWEST USAAnnual Meeting

February 27 - March 1, 2002Chicago, Illinois

The annual meeting of the Midwest Academy of InternationalBusiness will be held in conjunction with the Midwest BusinessAdministration Association annual meetings in Chicago duringFebruary 27, 28, and March 1, 2002.

You are invited to submit papers and/or panel proposals thatdeal with any international business topic. Papers that cross tradi-tional functional boundaries, span several borders, and deal withthe broad conference theme, "International Business in theTwenty-first century: The Challenges and Opportunities forEnterprises in Old and New Economy," are especially welcome.Panel proposals related to global strategy, international finance,international marketing, international supply chain management,international human resource management, international ecom-merce, and transition economies are especially welcome.Doctoral students are strongly encouraged to submit papers to adoctoral student session. A proceedings issue is published and dis-tributed at the conference. There is also "Distinguished PaperAward."

Submission rules:

1. One copy of the complete paper must be received byOctober 1, 2001. (No extensions or abstracts). Pleaseprovide a Microsoft Word disk version.

2. Completed papers are not to exceed twenty-five double-spaced typewritten pages including figures, tables, andreferences.

3. A title page with a complete list of authors, addresses,and phone numbers (and email addresses if available)should be included as a cover sheet. The first page of textshould include the title of the paper but not the authors'names or affiliations. Paper submissions to the confer-ence are double blind reviewed. Papers should follow thestyle guidelines of Journal of International BusinessStudies.

4. Panel proposals must be complete and detailed as to(a) the topic of the session,(b) who will present, and(c) what material will be presented.

Panel proposals must be received by October 1, 2001.5. Submissions must be original and must not have been

previously published or presented at another conference.6. All panel and paper submissions should be sent to:

Sumit K. KunduProgram Chair - Midwest AIB 2002 MeetingAssociate Professor of International BusinessBoeing Institute of International BusinessJohn Cook School of BusinessSaint Louis University, 307 Davis Shaughnessy Hall3674 Lindell BoulevardSaint Louis, MO 63108 U.S.A.

Telephone: (314) 977-3601 / Fax: (314) 977-7188Email: kundusk@slu.edu

SOUTHWEST USAChapter Conference

March 6-9, 2002St. Louis, Missouri

(Hotel: Adam’s Mark Hotel)

The Annual meeting of the 2002 AIB U.S. Southwest ChapterConference will be held in conjunction with the 2002 Federationof Business Disciplines (formerly Southwestern Federation ofAdministrative Disciplines-SWFAD) Conference, St. Louis,Missouri, (Adam’s Mark Hotel) March 6-9, 2002.

Researchers around the world are encouraged to submit compet-itive papers, work-in-progress, symposia and workshops fromall fields of International Business and its related areas.Submissions addressing internatinoal management, finance,marketing, educaiton, law, e-commerce, economics, strategy, ortrade are particularly welcome, as are submissions investigatingany type of cross-cultural or foreign (non-U.S.) country-specificphenomenon.

Submission Guidelines are as follows:

1. Authors may submit(a) full-length papers,(b) research-in-progress papers, or(c) proposals for special panels

2. All full-length papers and research-in-progress papers willbe double-blind reviewed. Accepted full-length papers willbe published in the SOUTHWEST REVIEW OF INTER-NATIONAL BUSINESS RESEARCH (the conference pro-ceedings)

3. Full-length papers should not exceed 30 double-spacedpages.

4. Research-in-progress papers should not exceed 10 double-spaced pages.

5. Proposals for special panels should not exceed 4 double-spaced pages. The proposals should include the purpose ofthe panel, the names and affiliations of participants, a sum-mary of contributions, and the justification for the proposal.

6. Submit 3 copies of the paper or proposal directly to theProgram Chair OR submit your paper or proposal electroni-cally via email in Microsoft Word format. Email submis-sions are highly encouraged! Please indicate in the cover let-ter the subject area and whether the paper is a full paper,research-in-progress or panel proposal. Awards will be pre-sented for the best submissions.

7. Individuals wishing to serve as session chairs, discussants,and/or reviewers should contact the Program Chair.

Submission deadline: October 15, 2001

For further information, contact:

Wolfgang HinckCollege of Business Administration

The University of Texas-Pan American1201 West University Dr

Edinburg, Texas 78539-2999Tel: (956) 381-2105

Fax: (956) 381-2867wolfgang@panam.edu

Chapter Web Site:http://wtfaculty.wtamu.edu/~sanwar.bus/aibsw.html

24 � AIB Newsletter - Third Quarter 2001 2 0 0 2 M E E T I N G

O u r f i r s t a n n u a l m e e t i n g i n s u m m e r

For more information, please visit theAIB Web site at www.aibworld.net

AIB

THE AIB 2002 AnnualMeeting at the Caribe

Hilton San Juan,Puerto Rico

June 28 - July 1, 2002

Geographies and Internat ional Business

The Academy of International Business 2002 Annual Meeting will take place atthe beautiful Caribe Hilton San Juan, in Puerto Rico. It is being hosted by theUniversity of Puerto Rico. The 2002 program chair is Lorraine Eden of

Texas A&M University. Holding our AIB 2002 meeting in Puerto Rico suggestsa conference theme that focuses on the interaction of geography and internation-al business. We include not only the geography and microstates such as PuertoRico, but all varieties of geography. Country characteristics such as size, locationand internal geographic features can be important attractions or deterrents to inter-national business. Much recent IB literature draws its inspiration from geography.At the same time, the absence of geography also is of critical interest to IB scholars. Atthe AIB 2002 conference, Geographies and International Business will be the generaltheme. Please visit www.aibworld.net and click on EVENTS for all the most up-to-dateinformation on the 2002 meeting.

Submission deadline is December 17, 2001. Submissions must be electronic(email, web or diskette; email is preferred). For more information, contact the AIBExecutive Secretariat office, or the program chair at the following address:Lorraine Eden, AIB 2002 Program Chair, Dept. of Management, TAMU 4221,Texas A&M University, College Station Texas 77843-4221, USA or e-mail:aib2002@tamu.edu.

The Caribe Hilton San Juan in Puerto Rico

AIB Newsletter - Third Quarter 2001� 25A N N O U N C E M E N T S

International Academy ofAfrican Business and

Development3rd Annual Conference

April 3-6, 2002Port Elizabeth, S. Africa

The main theme of the conferenceis “Expanding the Horizons ofAfrican Business andDevelopment.” The conferencewill feature contributed paper ses-sions, plenary presentations, casestudies, and panel sessions.Papers will undergo a blind, mul-tiple referee process and will bepublished in the conference pro-ceedings. The primary goal of thisconference is to provide a uniqueinternational forum to facilitatethe exchange of leading-edgeideas for effective advancementof knowledge in African business.This will be achieved throughmulti-disciplinary presentationsand discussions of current busi-ness and development issues inAfrica.

We welcome the submission ofpapers that address the conferencetheme as well as all functionalareas of business. Deadline forsubmission of papers isNovember 15, 2001. For moreinformation, please contact theconference chair:

Martheanne FinnemoreDean, Faculty of Economic and

Building SciencesUniversity of Port Elizabeth

PO Box 1600Port Elizabeth 6000

South Africatel: +27-41-5042906fax: +27-41-5042647

email: irammf@upe.ac.za

MISCELLANEOUS ANNOUNCEMENTSCalls for Papers

Global Interdependence and Language,Culture and Business (CIBER 2002)

The conference seeks to bring together businessand language professionals and academics to dis-cuss the juncture of foreign language, culture, andbusiness in education today. Global interdepend-ence demands an educational milieu to matchreality. U.S. students must be able to take advan-tage of new opportunities, environments, organi-zations, and technologies that are shaping theworld. Business/language/literature faculties pos-sess untapped opportunities to join their respec-tive disciplines to create curricula, pedagogies,educational materials, and technologies relevantfor students' futures as part of an interdependentglobal economy.

We welcome submissions exploring theoretical,empirical, and practical approaches to integratingforeign language instruction, cross-cultural stud-ies, and international business education to pre-pare for a globally interdependent world.Presentations may focus on the K-12, undergrad-uate, post-graduate, or professional levels.

Presentations should not exceed 20 minutes. Sendproposals for papers via email attachment tociber@mail.duke.edu, with cc:billiema@mail.duke.edu. Deadline for receipt:December 7, 2001. Invitations to participate inthe program will be issued by 1/11/02.

Organized and hosted by the Centers forInternational Business Education and Research(CIBER) at Duke University and the University ofNorth Carolina at Chapel Hill. Cosponsored bythe CIBERs at Brigham Young University,Florida International University, San Diego StateUniversity, Thunderbird-The American GraduateSchool of International Management, Universityof South Carolina, University of Texas-Austin,and University of Utah.

For more information, please contact theConference coordinator, Marybeth Lavrakas, atlavrakas@mail.duke.edu and visit the web site athttp://faculty.fuqua.duke.edu/ciber

M&A Summit 2002Calgary Alberta, Canada

June 6-9, 2002

The M&A Summit 2002 will beheld June 6-9, 2002 at theSheraton Suites, Eau Claire inCalgary, Alberta, Canada. This isthe first international conferenceto be held in North Americaspecifically dedicated to bring-ing together scholars and practi-tioners from around the world toexplore NEW thinking about themanagement of mergers and acquisitions.

We welcome both establishedand new scholars at this eventthat will include well-knownacademic and practitionerkeynote speakers, paper ses-sions, CEO roundtables, panelpresentations and expert work-shops.

The call for papers and papersubmission guidelines are cur-rently available on the confer-ence website at www.masum-mit.com. Proposals acceptedthrough a refereed process willbe published in a proceedings,and selected complete paperswill be included in a publishededited volume.

Submission deadline isNovember 15, 2001. For moreinformation, please contact:

Dr. Amy L. Pablo Faculty of Management University of Calgary

403-220-8537 ph. 403-282-0095 fax

apablo@ucalgary.cawww.masummit.com

26 � AIB Newsletter - Third Quarter 2001 A N N O U N C E M E N T S

MISCELLANEOUS ANNOUNCEMENTSCalls for Papers Newsletter Info

Northeast Decision Sciences Institute2002 Annual Meeting: March 20 - 22, 2002

Caribe Hilton Hotel & CasinoSan Juan, Puerto Rico

The 2002 Annual Meeting of the Northeast Region of theDecision Sciences Institute will be held on March 20 - 22,2002 at the Caribe Hilton Hotel & Casino in San Juan,Puerto Rico.

Competitive papers or detailed abstracts and proposals forsymposia, tutorials and workshops are invited in, but notlimited to, the topic areas listed below. Sessions involvingpractitioners will be given special considerations.Submissions will be blind refereed and those accepted willbe published in the Conference Proceedings. By submit-ting a manuscript, the author certifies that it is not copy-righted or previously published, has not been presented oraccepted for presentation at another professional meeting,and is not currently under review for presentation at anoth-er professional meeting. In addition, at least one of theauthors certifies that it is his/her intention to register forand attend the conference to present the paper if it isaccepted. All papers, abstracts and workshop proposalsmust be postmarked on or before October 8, 2001.

Program Tracks: Accounting; Business Ethics &Business Law; Case Development and Teaching;Curriculum and Students, E-Business; Finance and RealEstate; International Business; Management Science &Operations Research; MIS, DSS, AI and Microcomputers;Marketing; Organizational Theory, Behavior & Strategy;Outcome Assessment; Production & OperationManagement - Manufacturing/Services; Quality &Productivity; Service and Health Care Management;Statistical Theory & Applications.

For more information, please contact:Barbara E. Withers, PhDNEDSI Program ChairSchool of Business Administration5998 Alcala ParkUniversity of San DiegoSan Diego, California 92110Email: bwithers@SanDiego.eduPhone: (619) 260-2380Fax: (619) 260-4891

The AIB Newsletter is proud to share the latestnews about its members in the Members on theMove and Just Off the Press sections. E-mail

your professional accomplishments, book publica-tions, promotions, and honors, to:

aib@cba.hawaii.edu

Or send typed items and photographs via mail to:

AIB Newsletter2404 Maile Way, CBA-C306

Honolulu, HI 96822-2223 USA

AIB Copy Deadlines are:Quarter 1: February 1Quarter 2: May 1Quarter 3: August 1Quarter 4: November 1

Only items received on or before the first workingday after the deadline will be considered for publi-cation. Fax us at (808) 956-3261 for informationregarding our advertising and promotional servic-

es.

Feature Articles for InsightsFor consideration in Insights, feature articles may

be sent at any time to Newsletter SubmissionsEditor Betty Jane Punnett. Submissions should bea maximum of 2000 words and of general interestto the AIB membership. See page 12 for details.

Send articles as a Word attachment or as text inthe body of the message to:

eureka@caribsurf.com

You may also mail articles with a diskette to:

Betty Jane PunnettDept. of Management Studies

The University of the West IndiesCave Hill, Barbados

West Indies

AIB Newsletter - Third Quarter 2001� 27A D V E R T I S E M E N T S

The Business Association of LatinAmerican Studies (BALAS) Annual

ConferenceMarch 20-23, 2002; Wyndham Harbour Island

Hotel, Tampa, Florida“Transformations in Latin America:

Innovations in Leadership, Technology, andEntrepreneurship”

BALAS is an international organization with aLatin American focus dedicated to bringing togeth-er scholars and professional managers to facilitatethe exchange of ideas and information, to stimulatethe development of economic research, and to pro-mote and foster leadership in Latin American busi-ness organizations. Papers will be accepted on allaspects of business related to transformations andinnovations in Latin America. Although English isthe language of the conference and the presenta-tions, papers may be submitted in Spanish orPortuguese. All papers are subject to blind review.Selected papers are eligible for publication in theconference Proceedings. The deadline for submis-sion of papers is November 1, 2001.

The conference will be organized aroundtwelve tracks: 1) Accounting, Taxation andManagement Information and Control Systems; 3)Cultural, Social, and Ethical Issues; 4) EconomicEnvironment; 5) Financial Markets and FinancialManagement; 6) Human Resource Management;7) International Business and Global CompetitiveBusiness Practices; 8) Western HemisphericIssues; 9) Information and TechnologyManagement; 10) Marketing; 11) StrategicManagement; 12) Teaching Cases.

For additional information visit the BALASWeb site: http://www.balas.org or contact eitherof the conference co-chairs: Dr. Corinne Young:cyoung@alpha.utampa.edu or Dr. Marcy Kittner:mkittner@alpha.utampa.edu.

The conference is sponsored by the John H.Sykes College of Business at the

University of Tampa.

Global Corporate Finance, 5th Edition Suk Kim, Seung Kim, and Kenneth Kim

Blackwell Publishers, 2002

The fifth edition of Global Corporate Finance is suit-able for both undergraduate and graduate courses ininternational finance. This book may be used success-fully in college courses and in professional seminars allover the world, because it does not take a specificnational viewpoint, it is self-contained, and it combinestheory with applications. Global Corporate Finance,one of the most popular textbooks in the field, has beenused at over 200 colleges, universities, and managementdevelopment programs worldwide, because it stressespractical applications in a user-friendly format.

Global Corporate Finance provides students with thepractical skills needed to understand global financialproblems and techniques. The fifth edition of this distin-guished text has been completely revised in the areas ofshareholder value and corporate governance, globalstrategy, and corporate finance practices, while itsapproach is still grounded in readability, case studies,the basics, and user-friendliness.

The fifth edition of Global Corporate Finance isaccompanied by a highly extensive set of supplements.A comprehensive Instructor's Manual is available foradopters of this book from Blackwell Publishers. Andthe following textbook-related items are available on ourwebsite: a study guide, transparency masters of lecturenotes prepared by the authors, and currency symbols andcodes. Our website is an integral part of the fifth edition.In addition to providing useful information about thebook, our site will also direct visitors to World WideWeb sites in three related areas: international business,investments, and student needs. To help visitors use ourwebsite more effectively, we have developed 40 Internetexercises and posted them on our home page.

To obtain a copy of the book, please contact:Blackwell Publishers: ISBN 0-631-22951-5 (hardback)

PO Box 20Williston, VT 05495, USATel: (800) 216-2522Fax: (802) 864-7626

Blackwell Publishers: ISBN 0-631-22952-3 (paperback)PO Box 269, AbingdonOxon OX14 4YN, UKTel: +44(0)1235 465500Fax: +44(0)1235 465555

28 � AIB Newsletter - Third Quarter 2001 A D V E R T I S E M E N T S

University of PennsylvaniaPosition Announcement

Multinational Management

The Department of Management of the WhartonSchool is recruiting for a tenure track position inMultinational Management. Although we have a prefer-ence for entry-level candidates, we would be willing toconsider applications at all levels.

Multinational Management is a research area.Other areas include: Strategy, Organizational Behavior,Human Resources Management and Entrepreneurship.Applicants should be solidly grounded in one of theseareas, or in a relevant social science discipline, anddemonstrate strong international interests.

The Wharton School and the Department ofManagement are fully committed to globalization. Thestudent body is very international and an innovative andexciting program is in place which will globalize the cur-riculum, students, and faculty. As MultinationalManagement is an integral part of the Department, facul-ty have a unique opportunity to pursue international andfunctional management interests in research and teaching.

Successful candidates will be able to demonstrateoutstanding research potential as well as a strong interestand competence in teaching. Applicants for other thanentry level positions should have a solid record of publi-cation in first rate academic journals.

The University of Pennsylvania is an equalopportunity employer and takes its obligation in that areavery seriously. Please indicate in your cover letterwhich areas you wish to be considered. Send applica-tion materials -- cover letter, cv, 3 letters of recommenda-tion, sample publications and abstracts-- preferably viaE-mail with attachment (Word or WordPerfect preferred)to: recruiting@management.wharton.upenn.eduOR by mail to:

Chair, Department of ManagementThe Wharton School

University of Pennsylvania2028 Steinberg-Dietrich HallPhiladelphia, PA 19104-6370

Applicants should send materials by November 1, 2001

AA/EEO Employer

The Stockholm School of Economics – SSE – is seeking to fill a tenu-

red position as Professor of Business Administration in

International Business based at the Institute of International

Business – IIB. The position is guaranteed by the Institute of

International Business Endowment.

The Stockholm School of Economics, a top tier business school in

Europe, was founded by royal statute in 1909 in response to a need

for increased professionalism in the Swedish business community.

Over the years, the school has built a worldwide reputation around

its research and educational programs. SSE with a faculty of more

than 40 full professors and some 350 researchers is a member of the

Community of European Management Schools, CEMS, and is fully

accredited by EQUIS.

The Institute of International Business was established in 1975 to

strengthen SSE’s position in international business research and edu-

cational programs. Three of the schools prominent honorary doc-

tors and long time supporters, Dr Ruben Rausing and Drs Jacob

and Marcus Wallenberg initiated the creation of the institute and the IIB

Endowment. Today, with over 20 faculty members and researchers,

IIB offers an exciting and supportive research climate. Research and

education programs focus on four related areas: Competition and

Strategy (C&S), Innovation and Entrepreneurship (I&E),

International Management (IM) and Cross-Cultural Management

(CCM).

The applicants who will be considered for this position must have a

highly recognized international research profile in the field of

International Business, and should demonstrate excellent research

skills in combining different theoretical bodies to mirror the trans-

disciplinary tradition of IIB. The applicant must show a recent

record of scientific publication in peer-reviewed publications of the

highest international standing.

For further information about the position, please contact Professor

Örjan Sölvell, Director of the Institute of International Business,

Stockholm School of Economics (Tel +46-8-736 95 01 Fax +46-8-

31 99 27 E-mail iibve@hhs.se www.iib.edu).

Applications should be addressed to the Board of Directors at the

Stockholm School of Economics. In addition to a curriculum vitae,

include 10 chosen scientific works (four copies of each work) to the

address below. All materials must be received by October 1, 2001.

The Registrar

Stockholm School of Economics

P.O. Box 6501

SE-113 83 Stockholm

SWEDEN

position announcement

AIB Newsletter - Third Quarter 2001� 29A D V E R T I S E M E N T S

Tohoku University is the third oldest national university inJapan and was ranked No.1 among Asian universities in1998. It is located in the City of Sendai, which has a popula-tion of one million and is about 2 hours from Tokyo by train.Sendai is also known as one of the most beautiful cities inthe country. The School has three departments: Economics,Management and Modern Applied Economic Sciences, andit has established its reputation as a leading school in thecountry with respect to both research and education in theseareas.

Position Opening: The School would like to invite a lectur-er who teaches American and Latin American Economies inthe English language. This is a two-year contract and duringeach year, one is required to teach two undergraduate cours-es and one graduate course on the above topic.

Qualifications for Application: An applicant should have aPh.D. degree in the related field or working/teaching experi-ence which is deemed to be its equivalent. An excellent com-mand of English is also required.

Date of Appointment: April 1, 2002

Deadline for Application: September 30, 2001Annual Salary and Fringe Benefits: Annual salary isapproximately 5 million yen, including a “bonus”. Its exactamount is determined taking into account the candidate’seducational and teaching experience. Fringe benefits includehealth care, holidays and research grants of approximately0.6 million yen. University housing may be available.

Application Procedure: Please send a curriculum vitae, alist of research articles published and unpublished, copies ofmain articles, and an e-mail address to Professor HajimeHori, the Dean of the Graduate School of Economics andManagement. (Please see the address below.) Applicantsshall be notified of the selection results around December2001. Please do not hesitate to send an e-mail toodean@econ.tohoku.ac.jp for any further inquiry on thisposition.

Graduate School of Economics and ManagementTohoku UniversityKawauchi, Aoba-ku, Sendai 980-8576Japan

The Richard Ivey School of Business (former-ly the Western Business School) is widely rec-ognized for the quality of its management edu-cation. The School’s major activities include:a highly regarded MBA program, a small andselective undergraduate program, a well-established doctoral program active in mostmajor areas of management; as well as execu-tive education programs for managers, includ-ing an Executive MBA program. The Schoolis internationally oriented in curricula,research, faculty and students. The Schoolsupports research dealing with issues of inter-est and relevance to practicing managers.Excellence in teaching, and course develop-ment is highly valued. The faculty is collegialand engages in interdisciplinary investigationas well as independent inquiry.

The School’s principal location is London,Canada, a community of 326,000 equidistantfrom Toronto and Detroit. The ExecutiveMBA facilities are situated in Mississauga,just outside of Toronto, and Hong Kong.Road, air and train links to major Canadianand U.S. cities are excellent. The School is

part of a larger University community with theequivalent of 26,000 full-time students. TheSchool also is undertaking substantial pro-grams of teaching and research activities inAsia.

The School seeks candidates for at least onetenure track or limited term position at thelevel of Assistant or Associate Professor in theGeneral Management / Strategy area. Theposition is available to begin July 2002. Thesuccessful candidate will have demonstrated astrong commitment to the practice of manage-ment in both research and teaching. The abili-ty to teach the core Strategy course (formula-tion and implementation) is essential. Ademonstrated interest in international manage-ment and/or the management of rapidly grow-ing enterprises is an asset. Several years ofteaching experience with a proven ability inexecutive education programs is highly val-ued.

Applications for a tenured Associate Professoror Full Professor position are encouraged ifthe candidate’s qualifications and record of

achievement indicate an interest and ability toquickly begin playing a leadership role in theareas mentioned above.

This position is subject to budget approval. Inaccordance with Canadian Immigrationrequirements, priority will be given toCanadian citizens and Permanent Residents ofCanada. The Richard Ivey School of Businessand the University of Western Ontario arecommitted to employment equity and wel-comes applications from all qualified womenand men, including visible minorities, aborig-inal people and persons with disabilities.

Applicants should send their Curriculum Vitaeto Professor Rod White, Richard Ivey Schoolof Business, The University of WesternOntario, London, Ontario, Canada N6A 3K7.Submission deadline is November 30, 2001.

Phone: 519-661-4211 Fax: 519-661-3485 E-mail: gmarea@ivey.uwo.ca

The Richard Ivey School of BusinessFaculty Position:General Management / Strategy University of Western Ontario

Graduate School of Economics and ManagementTohoku University, JAPAN

30 � AIB Newsletter - Third Quarter 2001 I n s t i t u t i o n a l F o r m

Terms of Membership: For an annual fee of US$1,000, a school may designate two faculty members to receive AIB membershipand two to receive registration at the AIB’s Annual Meeting. A Ph.D. candidate may also be nominated to receive membershipand meeting registration provided that he or she commits to attending the Doctoral Consortium. Each participating institution willbe recognized once a year in both the AIB Newsletter and the Annual Meeting Program.

AIB INSTITUTIONAL MEMBERSHIP APPLICATIONA C A D E M Y O F I N T E R N A T I O N A L B U S I N E S S

INSTITUTION’S CONTACT INFORMATION Please type or print clearly and remit payment with form.

NAMES OF NOMINEES

- Please write the names of the individuals at your institution

who will receive the benefits listed below.

- Attach a copy of the “Individual Membership” form on the next

page for each person nominated.

- Check off the box for “Institutional Nominee” on the form.

MEMBERSHIP #1FIRST NAME INITIAL FAMILY NAME

POSITION/TITLE FAX NUMBER

E-MAIL

MEMBERSHIP #2FIRST NAME INITIAL FAMILY NAME

POSITION/TITLE FAX NUMBER

E-MAIL

Our institution nominates the following two individuals toattend the AIB’s Annual Meeting in Sydney, Australia onNovember 16-19, 2001.

REGISTRATION #1 (name only if same as #1 above)FIRST NAME INITIAL FAMILY NAME

POSITION/TITLE FAX NUMBER

E-MAIL

REGISTRATION #2 (name only if same as #2 above)FIRST NAME INITIAL FAMILY NAME

POSITION/TITLE FAX NUMBER

E-MAIL

Ph.D. Nominee (Membership and 2001 Registration Fee)FIRST NAME INITIAL FAMILY NAME

POSITION/TITLE FAX NUMBER

E-MAIL

FIRST NAME INITIAL FAMILY NAME

POSITION TITLE ORGANIZATION

STREET ADDRESS LINE 1

STREET ADDRESS LINE 2

CITY STATE COUNTRY POSTAL CODE

TELEPHONE FAX

E-MAIL PERSONAL WEB PAGE

Make cheques payable to the Academy of International Business.Applicants outside the US must pay by credit card or remit funds by meansof an international money order denominated in US dollars or by a checkdrawn upon a US bank. Foreign cheques must have micro-encoded bankinginformation, including the ABA routing number at the bottom of the cheque,a US bank address and have the US dollar amount imprinted on them. Theregular annual membership dues of $85 and the Student and Low-incomeannual membership of $45 in the Academy of International Business bothinclude $40 for a one-year subscription to the Journal of InternationalBusiness Studies. (Federal Employer ID #23-7442958).

You must return this form (or a copy) with your payment to ensureproper recording. (Return by October 15 for the current meeting.)

AMOUNT PAID: $ _________ (Dues for _____ years)

METHOD OF PAYMENT:❑ Cheque (No.: __________ Date: __________)❑ Credit Card (Circle: MasterCard / VISA / AMEX / Diners / Discover)

Credit Card Number

Expiration Date: _____/_______ (Month/Year)

Signature (if credit card payment)

MAIL TO: Academy of International BusinessUniversity of Hawai`i at Manoa - CBA2404 Maile Way (C-306)Honolulu, HI 96822-2223 USA

FAX TO: (808) 956-3261

AIB Newsletter - Third Quarter 2001� 31D i s c i p l i n e C o d e s

Please fill in your discipline and researchinterests in the boxes to the right and onthe reverse side. Refer to the list below todetermine the appropriate codes.

Disciplines: / (also write codes on reverse side)

Research Interests: / / / /

DISCIPLINE & RESEARCH INTERESTCODES

A. ECONOMICSA1 INTERNATIONAL TRADEA2 THEORY OF FDI AND THE MNEA3 INDUSTRIAL ORGANIZATIONA4 TRANSACTION COST ECONOMICSA5 ECONOMIC DEVELOPMENTA6 ECONOMIC INTEGRATIONA7 ECONOMICS OF INNOVATION & TECHNOLOGICAL TRANSFERA8 OTHER . . . . . . . .

B. FINANCEB1 COST OF CAPITAL & FINANCIAL STRUCTUREB2 CAPITAL BUDGETINGB3 INTERNATIONAL FINANCIAL MARKETSB4 FOREIGN EXCHANGE MANAGEMENTB5 INVESTMENT APPRAISALB6 TRANSFER PRICING ISSUESB7 OTHER . . . . . . . .

C. ACCOUNTING & TAXATIONC1 COMPARATIVE ACCOUNTING SYSTEMS & PRACTICESC2 INTERNATIONAL FINANCIAL REPORTINGC3 MEASUREMENT ISSUES (E.G., CURRENCY TRANSLATION, INFLATION

EFFECTS)C4 INTERNATIONAL MANAGEMENT ACCOUNTINGC5 PERFORMANCE EVALUATION & CONTROLC6 AUDITINGC7 INTERNATIONAL TAXATIONC8 OTHER . . . . . . . .

D. ORGANIZATIOND1 ORGANIZATIONAL STRUCTURED2 THE SOCIOLOGY OF ORGANIZATIONSD3 DECISION-TAKING STRUCTURES, HQ-SUBSIDIARY RELATIONSD4 INTER-FIRM ORGANIZATIONS (JV, ALLIANCES, NETWORKING)D5 COMPARATIVE ORGANIZATIONAL STUDIESD6 OTHER . . . . . . . .

E. MANAGEMENTE1 COMPARATIVE MANAGEMENTE2 CROSS-CULTURAL MANAGEMENTE3 MANAGEMENT & INFORMATION SYSTEMS (PLANNING, STRATEGY,

CONTROL, INFORMATION)E4 MANAGEMENT OF TECHNOLOGYE5 PRODUCTION/SOURCING OPERATIONS MANAGEMENTE6 MANAGEMENT OF RISKE7 ENTREPRENEURSHIPE8 OTHER . . . . . . . .

F. BUSINESS POLICYF1 BUSINESS STRATEGYF2 BUSINESS/GOVERNMENT INTERACTIONF3 BUSINESS & THE ENVIRONMENTF4 BUSINESS POLICY & DEVELOPING COUNTRIESF5 GLOBAL COMPETITION & MARKETSF6 OTHER . . . . . . . .

G. MARKETINGG1 COMPARATIVE MARKETINGG2 INTERNATIONAL MARKETING MANAGEMENT & STRATEGYG3 CROSS-NATIONAL CONSUMER & INDUSTRIAL BEHAVIORG4 INT’L PRODUCT/PROM/PRICING/DIST STRATEGYG5 EXPORT/IMPORT: FOREIGN MARKET ENTRY MODESG6 OTHER . . . . . . . .

H. HUMAN RESOURCES & INDUSTRIAL RELATIONSH1 HUMAN RESOURCES (INCL PERSONNEL) MANAGEMENTH2 COMPARATIVE IR SYSTEMSH3 DISPUTE RESOLUTIONH4 LABOR/MANAGEMENT ISSUES (INCL WAGE NEGOTIATIONS)H5 EMPLOYMENT EFFECTS OF FDI & MNE ACTIVITYH6 RECRUITING & TRAINING ISSUESH7 OTHER . . . . . . . .

DISCIPLINE & RESEARCH INTERESTCODES

I. LAWI1 LAW OF CONTRACTI2 INTERNATIONAL PROPERTY LAWI3 EXTRA-TERRITORIALITYI4 FOREIGN INVESTMENT LAWSI5 INVESTMENT GUARANTEES & DISPUTE SETTLEMENTSI6 NEGOTIATION & BARGAINING PROCEDURESI7 INT’L TRADE LAW & INT’L ORGANIZATIONSI8 CODES OF CONDUCTI9 OTHER . . . . . . . .

J. INTERNATIONAL RELATIONS AND POLITICAL SCIENCEJ1 POLITICAL RISK ASSESSMENT & MANAGEMENTJ2 INTER-GOVERNMENT RELATIONSJ3 ISSUES OF SOVEREIGNTY, HEGEMONY & DEPENDENCEJ4 POLITICAL ASPECTS OF MNE ACTIVITY, BUREAUCRACIESJ5 MNES & DISTRIBUTION POWERJ6 PRESSURE GROUPS, PUBLIC AFFAIRS, PUBLIC OPINIONJ7 OTHER . . . . . . . .

K. SOCIAL ISSUESK1 ENVIRONMENT & POLLUTIONK2 CONSUMER PROTECTIONK3 INCOME DISTRIBUTIONK4 SOUTH AFRICAK5 CULTURAL IMPACT OF MNESK6 OTHER . . . . . . . .

L. ECONOMIC & BUSINESS HISTORYL1 ECONOMIC HISTORYL2 BUSINESS HISTORY (GENERAL)L3 BUSINESS HISTORY (COMPANY SPECIFIC)L4 HISTORY OF FDI & THE MNEL5 OTHER . . . . . . . .

M. COUNTRY OR AREA STUDYM1 NORTH AMERICAM2 LATIN AMERICAM3 EUROPEM4 JAPANM5 OTHER ASIA & PACIFICM6 AFRICA & MIDDLE EAST

(IF INTEREST IN COMPARATIVE STUDIES, PLEASE INDICATE HERE BYINDICATING 2 OR MORE AREAS, E.G., NORTH AMER/JAPAN AS M1/4)

M7 OTHER . . . . . . . .

N. INDUSTRY/SECTORIAL STUDYN1 PRIMARYN2 SECONDARYN3 SERVICE (IF INTERESTED IN PARTICULAR SECTORS, E.G., PHARMA-

CEUTICAL, BANKING, PLEASE STATE)N4 ELECTRONIC COMMERCE

O. POLICY-ORIENTED STUDYO1 COST-BENEFIT ANALYSISO2 FOREIGN DIRECT INVESTMENT POLICYO3 INVESTMENT INCENTIVESO4 PERFORMANCE REQUIREMENTSO5 NATIONALIZATION, EXPROPRIATION, ETC.O6 OTHER . . . . . . . .

P. EDUCATION & IBP1 PEDAGOGIC ISSUESP2 CURRICULA & SYLLABIP3 EDUCATION & IBP4 RESEARCH METHODOLOGY IN IBP5 CASE STUDIESP6 TEACHER TRAINING IN IBP7 OTHER . . . . . . . .

Q. RESEARCH AREAS NOT COVERED BY GROUPINGSQ1Q2 . . . . . . . . . . . .

32 � AIB Newsletter - Third Quarter 2001 M E M B E R S H I P F O R M

AIB MEMBERSHIP APPLICATIONA C A D E M Y O F I N T E R N A T I O N A L B U S I N E S S

Action(s): ❑ New Membership ❑ Renewal ❑ Address Correction

Type of Membership: ❑ Regular - $85 ❑ Student - $45 ❑ Low Income - $45* ❑ Institutional Nominee - $0

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Please print clearly or type and remit payment with form.Family (or Last) Name First Name Initial

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Disciplines Research Interests See Research Codes on the back of thispage, or under the Membership link on our

Web site at http://www.aibworld.net

Make cheques payable to the Academy of International Business. Overpayments will be processed as giftsto the AIB Foundation and/or the Adopt-A-Library program and acknowledged in the AIB Newsletter. Applicantsoutside the US are requested to pay by credit card or to remit funds by means of International money orderdenominated in US dollars or by check drawn upon a US bank. Foreign cheques must have micro-encodedbanking information, including the ABA routing number at the bottom of the cheque, a US bank address andhave the US dollar amount imprinted on them. The regular annual membership dues of $85 and the Studentand Low-income annual membership of $45 in the Academy of International Business both include $40 for aone-year subscription to the Journal of International Business Studies. Federal Employer ID #23-7442958

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You must return this form (or a copy) withyour payment to assure proper recording.

MAIL TO:Academy of International BusinessUniversity of Hawaii at Manoa - CBA2404 Maile Way (C-306)Honolulu, HI 96822-2223 USA

FAX TO: (808) 956-3261

* Low income memberships are offered to individualswith gross annual incomes below US$25,000.