The distributors of foreign exchange rates are important for model building and empirical analysis. For example, many studies have examined foreign exchange market efficiency and currency portfolio management under the assumption that foreign exchange rates are normally distributed. The statistical tests in these studies, and thus their conclusions, may not be reliable if the foreign exchange rates follow non-normal distributions. Realizing the importance of the distribution of exchange rates, Professors Calderón-Rossell and Ben-Horim (1982) (hereafter C-B) have conducted a study analyzing these distributions. Based on the skewness of the distribution, C-B have classified foreign currencies into three groups. In the first group, the skewness statistic was not significantly different from zero for all currencies and subperiods. In the second group, the distribution of changes in the foreign exchange rates was close to symmetric except for at least one subperiod. In the third group, the skewness statistic suggests strongly that all the distributions were asymmetric. Their results reveal that:

As Pacific Asia becomes increasingly important in the world economy, business programs are needed for preparing students who want to specialize in this region. This study develops a comprehensive listing of Pacific Asian business programs currently available in the U.S. It is found that the programs vary significantly in terms of length, structure and regional focus. Although there are a few programs of this kind available, the number may still be insufficient. The American business schools may need to do more in response to the Pacific challenge.

The application of MNE definitions, measurements and theories to international services is still in its infancy, despite the considerable size and growth of this sector. There are problems in defining, classifying, measuring, comparing and explaining service MNEs, but they do not require special definitions and theories. Still, research to date suggests: (1) delinking the concepts of multinational enterprise and foreign direct investment under certain conditions, and (2) qualifying the nature of ownership, internalization and location advantages in FDI theory, as far as service MNEs are concerned.