Given that a multinational enterprise can react flexibly upon exchange rate movements, international trade flows may be interpreted as an option. An enterprise will opt to export if the profits obtained from exporting under given exchange rate developments are greater than if foreign subsidiary...

Since the seventies, the Federal Republic of Germany has become increasingly integrated in the world economy through it's high rates of foreign direct investment carried out by German multinational enterprises. In the limelight of the 'job export1 debate which paralleled these investment flows...

In einem einfachen theoretischen Erklärungsansatz werden Aspekte eines internationalen Handels in differenzierten Gütern diskutiert. Neben homogenen Gütern können insbesondere differenzierte Güter intraindustriellen Güteraustausch begründen. Von dieser Form der internationalen...

Based upon the foundations of mean-variance decision-making theory, we demonstrate that a change in the risk situation of an international enterprise open currency position does not inevitably require a corresponding hedging accommodation. Given a new risk situation, whether a revision of the...