BUSINESS & ECONOMICS

                   SOCIETY INTERNATIONAL

 

 

      2003 ANTHOLOGY ORDER FORM

 

           Title: Global Business & Economics Review - Anthology 2003

 

           ISBN#: 0-9659831-6-1, [ISSN#: 1553-1333]

 

           Pages: 431

 

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EDITOR

 

Demetri Kantarelis

 

REVIEWERS

(In Alphabetical Order)

 

Abu-Rashed, Jamal

Afshar, Tahmoures A.

Alhemoud, Abdulla M.

Altman, Morris

Ariwa, Ezendu Ifeanyi

Berg, Nathan

Bertaux, Nancy

Bhaskar, Vashishta

Binner, Jane

Cantarella, Anthony

Christner, Ron

Daskou, Sofia

Donovan, W. Michael

Finlay, Donald

Floyd, David

Forbes, Paul J.

Gutierrez, Pedro

Harrison-Walker, L. Jean

Hartley, Robert A.

Herbert, Theodore T.

Joyner, Brenda E.

Kantarelis, Demetri

Kehal, H.S.

Kiuila, Olga

Kolakovic, Marko

Koutmos, Gregory

Kurihara, Yutaka

Li, H.C.

Macfadyen, Alan James

Manfra, Pellegrino

Mantell, Edmund H.

Marangos, John

Marino, Francis

Marks, Andrew

Marktanner, Marcus

Mehanna, Rock-Antoine

Mowatt, Simon

Papathansis, A.T.

Petrochilos, George

Pires, Guilherme

Portugal, Victor

Prieger, James

Ramrattan, Lall B.

Smith, Michael R.

Thompson, Earl

Tipuric, Darko

Tsionas, Efthymios

Vyas, Bindu

Weinstein, Bernard

Weston, Rae

Whalen, Charles

Wolter, Stefan

Zauner, Klaus G.

Zhang, Yanchu

 

 

CONTENTS

 

 

KEYNOTE ADDRESS                                                                                                   Page

 

Demetrios Giannaros, University of Hartford, USA & State Representative,                         1

Connecticut House of Representatives, USA.

THE ECONOMICS OF PUBLIC POLICY MAKING: THEORY VERSUS THE PRACTICAL

EXPERIENCE OF AN ACADEMIC ECONOMIST

 

BUSINESS ETHICS

 

Gregory M. Heiser, University of Oklahoma, USA.                                                             6

CONTRIVED IGNORANCE: POST-ENRON SEC ATTORNEY RULES AND THE

MANAGEMENT OF PRFESSIONAL KNOWLEDGE

 

MANAGEMENT & ENTREPRENEURSHIP

 

Theodore T. Herbert, Rollins College, USA.                                                                      11

GRADATIONS OF CORPORATE ENTREPRENEURIALISM AND

THEIR CONSTITUENT FACTORS

 

Andrea Garnett, Vaal Triangle Technikon, South Africa.                                                     23

INCORPORATING CREATIVITY INTO STRATEGIC PLANNING

PROCESSES

 

Michael Novak, University of Massachusetts Boston, USA.                                                35

JOSEPH ABBOUD: HIS WAY

 

Darko Tipuric & Jasna Prester, University of Zagreb, Croatia.                                         42

           DECISION MAKING UNDER RISK AND UNCERTAINTY:

RISK PROPENSITY OF CROATIAN MANAGERS

 

Darko Tipuric, Mislav Ante Omazic &                                                                            58

Domagoj Hruska, University of Zagreb, Croatia.

MANAGEMENT AND RISK IN CROATIAN

FIRMS – EMPIRICAL STUDY         

 

MARKETING

 

James W. Gabberty &                                                                                                      70

Robert G. Vambery, Pace University, USA.                          

            TECHNOLOGICAL DETERMINISM: AN EXTENSION OF THE

MARKETING PARADIGM GOVERNING THE GLOBAL MARKETSPACE

 

L. Jean Harrison -Walker, The University of Houston-Clear Lake, USA.                        79

THE IMPACT OF MARKET ORIENTATION EFFICIENCY ON

BUSINESS PERFORMANCE

 

ACCOUNTING

 

Sepideh Parsa, Middlesex University Business School, UK.                                               90

DISCLOSURE OF SOCIAL INFORMATION BY

SMALL/MEDIUM-SIZED COMPANIES

 

FINANCE & INVESTING

 

Jason West, University of Technology Australia.                                                                105

BENCHMARK PRICING OF ELECTRICITY DERIVATIVES

 

Carl B. McGowan, University Kebangsaan Malaysia.                                                        116

THE RELATIONSHIP BETWEEN STOCK MARKETS AND THE

LEVEL OF ECONOMIC DEVELOPMENT: AN EMPIRICAL NOTE

 

Massoud Metghalchi, Ron Sardessai, University of Houston Victoria, USA; &              124

Shana Komeily, University of British Colombia, Canada.

EQUITY MARKET INTEGRATION

 

Jason West, University of Technology Sydney, Australia.                                                   129

IMPACT OF CATASTROPHIC LOSS ON INSURANCE SECURITY

RETURNS

 

Tom Clevenger & Gary Baker, Washburn University, USA.                                           140

SHOULD THE HOME MORTGAGE BE PAID OFF?

 

HUMAN RESOURCES

 

G. Scott Erickson, Ithaca College, USA; &                                                                      148

Helen N. Rothberg, Marist College USA.

INTELLECTUAL CAPITAL AT THE NATIONAL LEVEL:

MEASUREMENT AND MANAGEMENT ISSUES

 

INNOVATION & TECHNOLOGY

 

Maria Cristina Ortigão Sampaio Schiller, State University of Rio,                                  157

of Rio de Janeiro, Brazil and ENCE/IBGE.

INNOVATION AND PROXIMITY

 

Eileen P. Kelly & G. Scott Erickson, Ithaca College, USA.                                            168

CYBERSMEAR: DAVID AND GOLIATH REDUX?

 

MICROECONOMICS

 

Priniti Panday & Maria Kula, Roger Williams University, USA.                                      174

THE DETERMINANTS OF ALTRUISTIC BEHAVIOR AND THE

ROLE OF ECONOMICS

 

Satyajit Ghosh, University of Scranton, USA.                                                                   185

            UPSTREAM TRANSFERS IN INTERGENERATIONAL

RELATIONSHIPS

 

INDUSTRIAL STUDIES, CORPORATE GOVERNACE & PUBLIC POLICY

 

Mehmet Ugur, University of Greenwich, UK; &                                                               192

Melsa Ararat, Sabanci University, Turkey.

IMPERFECT INFORMATION AND CORPORATE GOVERNANCE:

SOME POLICY IMPLICATIONS

 

Paul Jason Forbes & Yuli Su, San Francisco State University, USA.                                204

MERGER AND ACQUISITION ACTIVITY IN THE EUROPEAN

UNION: PRE AND POST EURO

 

Jörg Borrmann & Klaus G. Zauner, University of Vienna, Austria.                                  216

ENTRY BARRIERS RECONSIDERED

 

Pavel Gomez Coventy Univesrity UK, IESA Venezuela; &                                                227

Donald Finlay, Coventry University UK.

THE 1996 TELECOMMUNICATIONS ACT AND THE  INVESTMENT

BEHAVIOUR OF US LOCAL TELECOMMUNICATION COMPANIES

 

Jörg Borrmann & Klaus G. Zauner, University of Vienna, Austria.                                  238

FAIRNESS IN PUBLIC UTILITY PRICING

 

A. Vindelyn Smith-Hillman, University College Northampton, UK; &                              244

Terence W. Brathwaite, Coventry University, UK.    

            REGULATION AND TELECOMMUNICATIONS: DIVERGENT

CARIBBEAN AND AFRICAN EXPERIENCES

 

Jörg Borrmann & Jörg Finsinger, University of Vienna, Austria.                                     250

AN ALTERNATIVE WAY OF DETERMINING THE RANGE OF

AVERCH AND JOHNSON’S LANGRANGE MULTIPLIER: A NOTE

 

Jörg Borrmann & Klaus G. Zauner, University of Vienna, Austria.                                  254

             CROSS-SUBSIDIZATION WITH NON-ZERO PROFITS

 

HEALTH ECONOMICS

 

Sam Mirmirani & Matthias Lippmann, Bryant College, USA.                                        259

MEDICAL MALPRACTICE CRISIS IN THE UNITED STATES:

A CASE FOR CANADIAN MODEL

 

MACROECONOMICS

 

Richard J. Cebula, William O. Perry, Armstrong Atlantic State University, USA; &      270

James V. Koch, Old Dominion University, USA.

IMPACT OF THE FEDERAL GOVERNMENT BUDGET DEFICIT

ON THE EX POST REAL LONG TERM INTEREST RATE YIELD

IN THE U.S., 1973:2-1996:4

 

Anita Ghatak, The University of Greenwich, UK.                                                             279

DEMAND FOR MONEY AND RELATED ISSUES:

FINLAND, 1950-2001

 

Walter O. Simmons, John Carroll University, USA; &                                                     292

Lennox J. Andrews, Ministry of Finance, Grenada.

POTENTIAL IMPACT OF MONEY AND CAPITAL MARKET IN

THE EASTERN CARIBBEAN

 

Ghodratollah Arabian, Lincoln University, USA;                                                             303

Tahmoures Afshar, Woodbury College, USA; &

Reza Zomorrodian, Massachusetts College of Liberal Arts, USA.

DEMAND SHOCK, SUPPLY SHOCK AND THE REAL EXCHANGE

RATE FORECASTS: ERROR CORRECTION APPROACH

 

Yutaka Kurihara, Aichi University, Japan.                                                                        314

IS APPLICATION OF THE TAYLOR RULE TO JAPAN

REASONABLE?

 

Ghodratollah Arabian, Lincoln University USA;                                                              326

Tahmoures Afshar, Woodbury College USA; &

& Reza Zomorrodian, Massachusetts College of Liberal Arts, USA.

DOES CONSUMER CONFIDENCE FORECAST CONSUMER SPENDING?

 

DEVELOPMENT, TRANSITION & ECONOMIC SYSTEMS

 

Allam Ahmed, University of East London, UK.                                                                 335

            AFRICA AND THE INTERNATIONAL DEVELOPMENT CHALLENGES

 

Marcus Marktanner, American University of Beirut, Lebanon                                         346

SOCIAL CONFLICT, DEMOCRACY AND GROWTH

 

Priniti Panday, Maria Kula & Tessa O’Keefe, Roger Williams University, USA.           357

ON THE JUSTIFICATION FOR DEBT RELIEF

 

Jamal Abu-Rashed & Nancy Bertaux, Xavier University, USA.                                     369

THE HISTORICAL DEVELOPMNET OF AN ISLAMIC

PERSPECTIVE ON ECONOMIC SYSTEMS

 

Neena Malhotra, G N D University, India; &                                                                   375

H. S. Kehal, University of Western Sydney, Australia.

URBANISATION AND ENVIRONMENTAL POLLUTION:

LESSONS FROM THE EXPERIENCES OF A DEVELOPING COUNTRY

 

John Marangos, Colorado State University, USA.                                                            386

THE ROLE OF MARKETS IN INSTITUTIONAL DEVELOPMENT

FOR TRANSITION ECONOMIES

 

FOREING DIRECT INVESTMENT & INTERNATIONAL ECONOMICS

 

Pellegrino Manfra, City University New York, USA.                                                       390

FOREIGN DIRECT INVESTMENT AND GROWTH:

A COINTEGRATION MODEL FOR THE UNITED STATES ECONOMY

 

Subarna  K. Samanta, The College of New Jersey, USA; &                                             399

Jamal Abu-Rashed, Xavier University, USA.

CROSS COUNTRY SPILLOVER EFFECTS IN FOREIGN EXCHANGE

MARKETS IN MIDDLE EASTERN COUNTRIES: AN EMPIRICAL ANALYSIS

 

Alexander C. Papathanasis, California Polytechnic State University, USA.                       413

THE SENSITIVITY OF AGRICULTURAL TRADE TO THE

EURO/DOLLAR EXCHANGE RATE

 

EDUCATION

 

John Marangos, Colorado State University, USA.                                                            425

THE VALUE OF STUDYING ECONOMICS

 

Author Index                                                                                                                    431