Search results

This paper argues for the benefits to international business (IB) of taking a much longer view at the engagement by multinational enterprises (MNEs) with host locations.

The authors showcase a project tracking the engagement by MNEs with Australia over the past two centuries. Extensive archival work has been undertaken to identify and document modes of entry, home countries, industries, operational modes and company types among the MNEs operating in Australia. The authors also describe the shifting nature of Australia as a host location.

The authors demonstrate the historical and ongoing diversity of ways in which MNEs interact with a host. They show that different organisational forms have prevailed over time, and that considerable operational mode changes can best be observed when a long lens is adopted. The authors show how these mode changes interact with host country dynamics, and also the broader context of the MNE and its altering strategies.

The authors urge IB scholars to embrace longer timeframes to capture the complexity of MNEs’ growth and adaptation more meaningfully.

By taking such a long-run perspective, the authors shed new light on the importance of moving beyond simple snapshots to analyse key IB constructs and phenomenon.

This study investigates investor trading behaviour around regular and one-off public holidays on the Sydney Stock Exchange (SSX) from 1901 to 1950. The purpose is to examine whether trading patterns differ between regular holidays, which are known in advance, and one-off holidays, which are unexpected. The study provides insights into the predictability of holidays and its influence on market activity, contributing to the broader literature on investor inattention and market anomalies.

Using a novel dataset constructed from handwritten share price lists covering 14,224 trading days, we perform quantitative analysis to assess trading volume before and after regular and one-off public holidays. Ordinary least squares regression models are employed to identify the presence of a holiday effect, accounting for various fixed effects and time-varying factors such as geopolitical events.

We find that trading volume is significantly lower on the day before regular holidays and higher on the day after, consistent with the investor inattention hypothesis. In contrast, no significant holiday effect is observed for one-off holidays. This suggests that predictability plays a crucial role in influencing investor behaviour, with irregular, less predictable holidays having less impact on trading patterns.

The study is limited by the historical nature of the data, which may not fully capture the diversity of modern trading environments. Additionally, the analysis is restricted to the SSX and may not be generalisable to other markets or time periods. Future research could explore similar effects in different contexts or with more recent data.

This research provides valuable insights for market participants and regulators by demonstrating how the predictability of holidays influences market activity. Understanding these patterns could help in making more informed decisions during periods of expected low trading volumes.

The study underscores the role of public holidays in shaping investor behaviour, with broader implications for understanding how societal events influence financial markets. This is particularly relevant in discussions about the impact of unexpected events on market stability.

This is the first study to compare the effects of regular and one-off public holidays on trading volumes in a historical stock market context. Our findings highlight the importance of event predictability in financial markets, offering a new perspective on how historical market behaviours can inform current financial theories.

INTRODUCTION With the increasing importance of capital investment selection in modern business the field has attracted a large body of interest in the literature of the last two decades. It is the purpose of the survey to trace this development from the use of simple financial criteria for assessing investments to the use of more sophisticated financial measures, techniques for assessing risk in investments and finally complex models for selecting portfolios of investments.

Compiled by K.G.B. Bakewell covering the following journals published by MCB University Press: Facilities Volumes 8‐18; Journal of Property Investment & Finance Volumes 8‐18; Property Management Volumes 8‐18; Structural Survey Volumes 8‐18.

Index by subjects, compiled by K.G.B. Bakewell covering the following journals: Facilities Volumes 8‐18; Journal of Property Investment & Finance Volumes 8‐18; Property Management Volumes 8‐18; Structural Survey Volumes 8‐18.

Compiled by K.G.B. Bakewell covering the following journals published by MCB University Press: Facilities Volumes 8‐18; Journal of Property Investment & Finance Volumes 8‐18; Property Management Volumes 8‐18; Structural Survey Volumes 8‐18.

Compiled by K.G.B. Bakewell covering the following journals published by MCB University Press: Facilities Volumes 8‐18; Journal of Property Investment & Finance Volumes 8‐18; Property Management Volumes 8‐18; Structural Survey Volumes 8‐18.

The purpose of this paper is to investigate the historical contributions of complex innovations (both creative and tactical components) in a formative period in a major Australian department store, David Jones Ltd.

The study uses a context-specific lens to examine complex retail innovation. The study adopts a longitudinal design with the focus on a single firm, which met the inclusion criteria. Data collection was predominately from company archival materials and publicly available documents, including newspapers.

An in-depth analysis of two complex innovations demonstrates the retailer’s successful management of both marketing exploration (innovation) and marketing exploitation of that innovation. Effective marketing requires operational, tactical marketing exploitation to dovetail marketing exploration.

The study is limited to one successful department store. Notwithstanding, there are expectations that the lessons extend to many other retailing organizations.

The practical relevance is clear, with the emphasis on retail innovation (and especially complex innovation) as a basis for both surviving and thriving in an ever-changing marketing environment.

The use of a complex innovation approach is a novel way of examining marketing history. The study concludes that both marketing exploration and marketing exploitation are essential for retail longevity.

Index by subjects, compiled by K.G.B. Bakewell covering the following journals: Facilities Volumes 8‐17; Journal of Property Investment & Finance Volumes 8‐17; Property Management Volumes 8‐17; Structural Survey Volumes 8‐17.