Guest Editor’s Forward

This special issue is devoted to the topic of globalization, one of the most emotionally charged terms in international business today. While globalization is not really a new phenomenon, advances in transportation and communications technology as well as decreasing trade barriers have increased the pace and magnitude of cross border interactions, bringing them to the forefront of discussion for scholars. In such discussions, the term “globalization” is sometimes used in a broader economic sense for capitalism or the market economy. However, globalization can be more rationally discussed in terms of 3 elements: 1) international trade, 2) foreign direct investment and 3) capital market flows.