Monthly returns on twenty-seven Eurobonds from July 1982 to June 1986 were examined. There were no consistent differences in returns based on the country in which a firm is located. There were consistent differences due to industry classification, with energy-related firms exhibiting higher average returns and variances. Excess returns were calculated using the capital asset pricing model and arbitrage pricing theory. The results from calculation of mean average deviation, root mean square, and R2 all indicate that the arbitrage pricing theory was a better descriptor of the Eurobond market. The excess returns were also examined using stochastic dominance. Arbitrage pricing theory never dominated the capital asset pricing model using first-order criteria, but consistently dominated using second-order criteria. The results were discussed in terms of the implications for investors and portfolio managers.

This paper surveys U.S. foreign policy in the late 1970s and early 1980s as the American administration reacted to the Soviet Union's interventions in Afghanistan and Poland and to its planned gas pipeline to Western Europe. Chapter I outlines the origins of the pipeline project; Chapters II and III describe U.S. foreign policy toward the Soviets during the Carter and Reagan administrations. Chapter IV focuses on the economic sanctions imposed against the Soviet Union by the United States and their failure to block or delay the pipeline, and Chapter V stresses the inability of economic sanctions-- in this and other instances--to achieve political ends.

This dissertation attempts to provide an exploratory structure to respond to, and tries to resolve, an existing void in international accounting research. The void is a lack of coherently structured, nation-specific, descriptive research to investigate socio-economic phenomena which may influence financial accounting. This dissertation's salient features include a political economy theory, an exploratory, sociological method, and a case study format. The political economy of accounting, introduced by Tinker [1980] and refined by Cooper and Sherer [1984], emphasizes a persuasive social relations dimension. This theory motivates selection of three countries (the United States, France, and Japan) that appear to have divergent socio-cultural environments. An exploratory and analytical approach of modified (enlarged) exogenism, developed by Smith [1973, 1976] and adapted to accounting by McKinnon [1986], provides an analytic structure for this exploratory investigation. Modified exogenism focuses upon an open, dynamic social system (the process of financial accounting), and provides analysis reflecting four major areas (the environment, intrusive events, intra-system activity, and trans-system activity). After examining the nation-specific financial accounting (socio-economic) structures for each country, an analysis of selected financial disclosures attempts to gain a better understanding of how socio-economic factors have influenced the development of financial accounting. My primary objective is to …

On 1 February 1793, the National Convention of Revolutionary France declared war on Great Britain and the Netherlands, expanding the list of France's enemies in the War of the First Coalition. Although British Prime Minister William Pitt the Younger had predicted fifteen years of peace one year earlier, the French declaration of war initiated nearly a quarter century of war between Britain and France with only a brief respite during the Peace of Amiens. Britain entered the war amid both a nadir in British diplomacy and internal political divisions over the direction of British foreign policy. After becoming prime minister in 1783 in the aftermath of the War of American Independence, Pitt pursued financial and naval reform to recover British strength and cautious interventionism to end Britain's diplomatic isolation in Europe. He hoped to create a collective security system based on the principles of the territorial status quo, trade agreements, neutral rights, and resolution of diplomatic disputes through mediation - armed mediation if necessary. While his domestic measures largely met with success, Pitt's foreign policy suffered from a paucity of like-minded allies, contradictions between traditional hostility to France and emergent opposition to Russian expansion, Britain's limited ability to project power …