The international stock market crisis of 1997 and the dynamic relationships between Asian stock markets: linear and non-linear Granger causality tests

Article Abstract:

Keywords: Accounting research, Stock markets, Crisis, USA Linear and non-linear Granger Causality tests are used in order to examine the dynamic relationship between stock returns of six Asian Stock Markets, namely Japan, Hong Kong, Singapore, Malaysia, Taiwan and Thailand, for the time, before, during and after the stock market crisis of October 1997. The interest of this paper is focused on how the crisis was spread between these economies, which are among the strongest of the Asian block. The results indicate the presence of a bi-directional non-linear Granger causality between the Asian stock markets in the whole period of study, that is from January 2, 1997 to October 1, 1998.

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Nonlinear systems theory: a more dynamic approach to international strategic management

Article Abstract:

Many multinational companies are conducting their operations within increasingly complex and volatile global markets. Thus, the nature of these markets in the late 1990s have decreased the efficacy of the traditional planning techniques used by these firms. The need to monitor changes in the countries within which they operate and to develop more effective intervention strategies has therefore become critical. A tool of nonlinear systems theory-phase plane analysis is proposed to analyze, monitor and react to international strategic challenges.

Multinational Corporations, Business Methods, Methods, Management, International business enterprises, Business planning, Strategic planning (Business)

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Nonlinear systems theory: a more dynamic approach to international strategic management

Article Abstract:

Keywords: Systems theory, Chaos, Multinationals, Risk, Mexico, Brazil The complexity and volatility of the environments in which many multinational corporations operate have lessened the effectiveness of traditional planning techniques. As multinational corporations grapple with the conflicting pressures of globalization and localization, the need to track changes in the countries in which they operate and to devise more effective intervention strategies becomes more pressing.

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