This is a type of mail and email fraud that attempts to have individuals send money or disclosed banking account information based on false pretences. The correspondences will typically imply that someone has inherited a large sum of money and needs assistance in acquiring the funds. Sometimes they will be asked for money from a second contact such as a lawyer or a country's banking authority. They will ask for the money to pay for lawyer's or government fees which will allow millions of dollars to be released to their account. Some recipients who fall for the scam will send the money requested and never see their money again. Most of the individuals that initiate this form of fraud are located in Africa with many having been caught and jailed from Nigeria.
This study tests the random walk hypothesis for the Indian stock market. Using 19 years of monthly data on six indices from the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) this study applies three different unit root tests with two structural breaks to analyse the random walk hypothesis.
We find that unit root tests that allow for two structural breaks alone are not able to reject the unit root null; however, a recently developed unit root test that simultaneously accounts for heteroskedasticity and structural breaks, finds that the stock indices are mean reverting. Our results point to the importance of addressing heteroskedasticity when testing for a random walk with high frequency financial data.
In a largely deregulated economy companies which retain a domestic focus have found themselves facing increasing international competition and declining market opportunities. Thus, no market can exist without acknowledging international forces, trends and pressures. International trade, investment and service markets have been the fastest growing sectors of the world economy since the end of WWII. The dynamic growth of international markets and global marketing has evolved in a context of fundamental underlying forces and concepts. Electronic marketing; globalisation; standardisation; customisation; and horizontal management structures are some of those influences.
Outcomes
The learning goals associated with this unit are to:
Analyse and evaluate how a range of international marketing criteria (culture and so on) impact on a chosen and specific foreign market develop, analyse, justify and evaluate market entry and longer term foreign marketing plans for a specific market understand how current issues, trends and research in international marketing impact on designated foreign market segments
Identify and evaluate how a range of specialised, localised and specific issues might impact upon business activity within a designated foreign market segment
Utilise independent critical thinking and applied learning skills to develop an international marketing orientation in terms of a chosen market context.
As always, my reflections commence with our most important asset – our staff. On the academic front, we were joined by Professor Peter Danaher, previously of the Melbourne Business School and the University of Auckland. In January, Dr Colin Campbell (Simon Fraser University, Vancouver) and Dr Jiemiao Chen (Indiana University) joined the department, followed in July by Dr Junzhao Ma (Northwestern University, Kellogg School of Management), Dr Jimmy Wong (University of Illinois at Urbana-Champaign), Dr Pingping Qiu (University of Manitoba, Canada) and Dr Satheesh Seenivasan (The State University of New York, Buffalo).
We also bid very fond farewells to two longstanding colleagues, Dr Sandra Luxton and Dr Dave Stewart. In 2011 we had two successful internal promotions to associate professor (Dr Colin Jevons and Dr Yelena Tsarenko) and one to senior lecturer (Dr Mauricio Palmeira). Three colleagues also converted to educationally-focused career paths (Peter Wagstaff, Manir Zaman and Peter Scholem). On the professional staff side, Angela Taylor took up the recently created role of Manager, Marketing and Events, and Nicky Auster joined us to provide campus administrative support.
The Australian Centre for Retail Studies farewelled Dr Colin McLeod as Executive Director and welcomed Dr Justin Cohen as Research Fellow. Finally, Dr Joshua Newton replaced Dr Lydia Windisch as my Research Assistant.
In terms of our education offerings and teaching experiences we launched a new, graduate-level social media marketing unit (to complement the undergraduate version so successfully launched in 2010). Dr Fiona Newton won a prestigious Australian and New Zealand Marketing Academy (ANZMAC) early career educator award for her pioneering work in the problem-based learning (PBL) domain at the Monash Peninsula campus. Dr Stephen Saunders and Teaching Associate Nicholas Grigoriou won a Dean’s Award for Excellence in Teaching, while Dr Srinivas Sridharan and Maureen Griffiths received a Dean’s Commendation for Outstanding Teaching. Finally, two colleagues co-authored two papers in the Journal of Marketing Education (JME) special issue Teaching Marketing With Innovative Technology (vol. 33, no. 2), bringing to three our number of JME articles in the past three years.
2011 was a very big year in terms of research output and achievements. Professor Peter Danaher won the Dean’s Researcher of the Year Award, and Dr Colin Campbell received a Dean’s Commendation for Excellence in Research by an Early Career Researcher. We produced over 80 refereed journal publications, including nine in A* ranked journals and 23 in A journals, and our category 2-4 research income increased.
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