<p class="MsoNormal" style="text-align: justify; margin: 0in 0.5in 0pt; mso-pagination: none;"><span style="font-size: 10pt; mso-bidi-font-style: italic; mso-bidi-font-size: 12.0pt;"><span style="font-family: Times New Roman;">Two major impacts of globalization have been the dramatic increase in the number of multinational corporations that now exist and the wave of international bankruptcy law reform now taking place.<span style="mso-spacerun: yes;">&nbsp; </span>Multinational corporations are widening their search for new strategic opportunities and are venturing into new countries, cultures, and geographic markets in this pursuit.<span style="mso-spacerun: yes;">&nbsp; </span>As a result of the reform movement, bankruptcy laws in various countries are becoming more similar, are providing documentation that the Universalism Model is a pragmatic vehicle for resolving multinational bankruptcies, and are indirectly generating increased strategic opportunities for multinational corporations.</span></span></p><p class="MsoNormal" style="text-align: justify; margin: 0in 0.5in 0pt; mso-pagination: none;"><span style="font-size: 10pt; mso-bidi-font-style: italic; mso-bidi-font-size: 12.0pt;"><span style="font-family: Times New Roman;">&nbsp;</span></span></p><p class="MsoNormal" style="text-align: justify; margin: 0in 0.5in 0pt; mso-pagination: none;"><span style="font-size: 10pt; mso-bidi-font-style: italic; mso-bidi-font-size: 12.0pt;"><span style="font-family: Times New Roman;">This paper comprises 1) a brief summary of globalization and its impact on the creation of multinational corporations; 2) a brief summary of the Territorial Model and the Universalism Model of international bankruptcy law; 3) a general discussion and comparison of bankruptcy laws in selected Latin American countries; 4) a discussion of the strategic implications of these countries&rsquo; bankruptcy laws; and 5) general conclusions regarding the strategic significance of global bankruptcy reform and Universalism.</span></span></p>

Globalization has been responsible for a number of ongoing interrelated trends including an accelerated worldwide movement toward economic integration, an ongoing proliferation of new multinational corporations, a widening search for new economic opportunities by multinational corporations, and an increasing concern for and attention to bankruptcy as a contingency strategy for multinational corporations when primary strategies catastrophically fail. The economic benefits associated with the removal of trade barriers is also attracting new member countries to the EU and other trading blocks but these new member countries bankruptcy law provisions may have uncertain contingency strategy implications for MNCs.This paper comprises (1) a brief summary of the general trends associated with globalization; (2) a discussion of why international bankruptcy law is becoming increasingly important in the formulation of contingency strategy in multinational corporations; (3) a discussion and analysis of bankruptcy law provisions in new EU member states; (4) a discussion of the strategic implications associated with new member states bankruptcy laws; and (5) general conclusions regarding the attractiveness of new member states bankruptcy laws to multinational corporation strategists.

This paper explains why multinational companies should be concerned about adjudication of international insolvencies. The Territorialism and Universalism Models of bankruptcy law are reviewed and employed as a backdrop to describe recent developments in the insolvency laws of four Asian nations. We conclude with an assessment of the status of the selected Asian nations insolvency laws, progress toward a uniform global system for resolving multinational insolvencies, and the strategic implications these developments hold for strategy formulation.

Although the Common Business Oriented Lsmguage was originally designed for use in business data processing, the lsnguage is now being employed as a simulation langusge under certain limiting conditions. Factors influencing the application of the language to simulation studies include its popularity, its self-documenting characteristic, its '"oelievability," and its efficiency in progrsmm~ng the triangular distribution.A necessary requisite in any simulation study is the progrsmm~ng of random number generators to simulate the random occurrence of various events. Several methods of generating random numbers are available, but the technique most frequently used is the power residue method. Since most simulation studies are progr~m-d with PORTRAN (a general Imlrpose language'), simulation l~s (SI.MBCRIPT, GPSS, GASP, etc.), or machine languages, little attention has been devoted to p~ogr~mm~g the power residue method of random number generation with CGBOL.A procedure is presented which describes and discusses COBOL progrsmm~ng of random number generation for the binary computer aud the decimal computer utilizing the power residue method. Program excerpts are provided to illustrate the procedure, and comparative differences in COBOL programming for the two computer types are noted. Conditions most favorable to COBOL progr,mm~ng of simulation studies are also discussed, as well as the conditions under which CGBOL programming is not recommended. Q !

Increased emphasis on solving social problems has demanded better manpower planning in all areas, but particularly in health services planning. A unique forecasting model is developed forpredic~ ing probabilistically the number of physicians required for specified future time periods. Each factor in the model is treated as arandomvariable with a triangular probability distribution. Exercising the model producesaprobabilitydistribution for the incremental number of physicians needed for the specified time period.The simulation results indicate that community health planners are able to assess future physician requirements probabilistically and with greater confidence than with traditional point estimation techniques.