This article reviews and assesses the contribution, explicit or implicit, of various schools of organization theory to the development of a stream of research on the management of multinational companies, and summarizes what is seen as the emerging paradigm of multinational management. While the contribution of some of the schools has been substantial, we conclude that opportunities for more cross-fertilization between organization theorists and scholars of multinational strategic management have been missed, mainly because the differences between theory development and phenomenological understanding have seldom been bridged.

A central question in industrial organization is why profit rates differ so dramatically across firms and industries. One of the many explanations offered for this phenomenon is the failure of conventional accounting methods to adjust for intangible capital stocks, i.e., it is argued that profit rates do not differ dramatically when capital stocks are correctly calculated to include intangible R&D and advertising capital. To test this hypothesis individual advertising capital stocks are calculated for firms in the toys, distilled beverages, cosmetics, and pharmaceuticals industries, and R&D stocks are calculated for the pharmaceuticals firms. The adjustments do not eliminate the wide dispersion in profit rates. Copyright 1991 by MIT Press.

ABSTRACT This paper employs a “transaction” data‐base to study whether observed quote‐revisions are consistent with those predicted by the adverse selection and inventory cost theories of the bid‐ask spread. We find that actual quote‐revisions are consistent with the theoretical prediction in only 25% of the cases. Furthermore, quote‐revision patterns are found to be strongly dependent on the level of the outstanding spread and, to a lesser extent, on the transaction size. These systematic patterns, unrelated to the inventory cost and adverse selection theories, are consistent with the effect on quote‐revisions of the limit order book and the minimum 1/8 price‐change rule.

This paper employs a "transaction" database to study whether observed quote revisions are consistent with those predicted by the adverse selection and inventory cost theories of the bid-ask spread. The authors find that actual quote revisions are consistent with the theoretical prediction in only 25 percent of the cases. Furthermore, quote-revision patterns are found to be strongly dependent on the level of the outstanding spread and, to a lesser extent, on the transaction size. These systematic patterns, unrelated to the inventory cost and adverse selection theories, are consistent with the effect on quote revisions of the limit order book and the minimum 1/8 price-change rule.

This paper extends recent developments in general equilibrium theory and applies them to the problem of measuring the real output of an economy's insurance sector. These developments permit a priced commodity to be a complex incentive-compatible contract. These contracts are not bundles of more basic commodities. These contracts are elementary in the same sense that event-contingent goods deliveries are elementary in the Arrow- Debreu framework.

This paper reports on the development of an instrument designed to measure the various perceptions that an individual may have of adopting an information technology (IT) innovation. This instrument is intended to be a tool for the study of the initial adoption and eventual diffusion of IT innovations within organizations. While the adoption of information technologies by individuals and organizations has been an area of substantial research interest since the early days of computerization, research efforts to date have led to mixed and inconclusive outcomes. The lack of a theoretical foundation for such research and inadequate definition and measurement of constructs have been identified as major causes for such outcomes. In a recent study examining the diffusion of new end-user IT, we decided to focus on measuring the potential adopters' perceptions of the technology. Measuring such perceptions has been termed a “classic issue” in the innovation diffusion literature, and a key to integrating the various findings of diffusion research. The perceptions of adopting were initially based on the five characteristics of innovations derived by Rogers (1983) from the diffusion of innovations literature, plus two developed specifically within this study. Of the existing scales for measuring these characteristics, very few had the requisite levels of validity and reliability. For this study, both newly created and existing items were placed in a common pool and subjected to four rounds of sorting by judges to establish which items should be in the various scales. The objective was to verify the convergent and discriminant validity of the scales by examining how the items were sorted into various construct categories. Analysis of inter-judge agreement about item placement identified both bad items as well as weaknesses in some of the constructs' original definitions. These were subsequently redefined. Scales for the resulting constructs were subjected to three separate field tests. Following the final test, the scales all demonstrated acceptable levels of reliability. Their validity was further checked using factor analysis, as well as conducting discriminant analysis comparing responses between adopters and nonadopters of the innovation. The result is a parsimonious, 38-item instrument comprising eight scales which provides a useful tool for the study of the initial adoption and diffusion of innovations. A short, 25 item, version of the instrument is also suggested.

This paper employs a “transaction” data-base to study whether observed quote-revisions are consistent with those predicted by the adverse selection and inventory cost theories of the bid-ask spread. We find that actual quote-revisions are consistent with the theoretical prediction in only 25% of the cases. Furthermore, quote-revision patterns are found to be strongly dependent on the level of the outstanding spread and, to a lesser extent, on the transaction size. These systematic patterns, unrelated to the inventory cost and adverse selection theories, are consistent with the effect on quote-revisions of the limit order book and the minimum 1/8 price-change rule.

Jeffrey C. Fuhrer, Kenneth J. Weiller, A Multivariate Posterior Odds Approach to Assessing Competing Exchange Rate Models, The Review of Economics and Statistics, Vol. 73, No. 1 (Feb., 1991), pp. 113-124