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PurposeThe purpose of this paper is to investigate whether all of the risk factors were priced during the internet bubble period.Design/methodology/approachA unique hand collected dataset was used from public prospectuses for companies that issued an initial public offering during the internet bubble period. Three hypotheses were proposed: the risk factors mentioned in the prospectus are important for IPO trading and therefore affect IPO underpricing; risk factors affect the IPO deal attributes; and the number of risk factors cited by the issuing firm is affected by direct participants such as venture capitalists and investment bankers.FindingsIt was found that hi‐tech dummy played a significant role during the bubble period. Moreover, not all risk factors are regarded important, some of them are not significant at all as predicted by first hypothesis. The most striking observation is the negative economic significance of the risk factor no prior market for the traded stock. This reveals that, traders are selective in valuing risks and may value some factors as opportunities and not as risk factors. In addition, the results reveal that risk factors do affect the deal attributes as predicted by our second hypothesis. Also, the pricing of these risk factors are not different between retail and hi‐tech companies. Regarding the participants, it was found that venture capitalists and investment bankers have a significant statistical and economic effect on the number of risk factors reported in the prospectus.Originality/valueThe paper contributes to the literature by investigating the IPO underpricing phenomenon in the internet bubble period.

As competition abounds, the efficient organization of a company's supply chain is a vital success factor for companies in today's business world. In recent years, electronic hubs have received great attention, providing buyers and suppliers alike with a means of structuring and streamlining their supply chains in order to create maximum efficiency. Concerning the future of the e-hub environment, online marketplaces are expected to move rapidly toward becoming full service providers, letting e-commerce swallow the entire supply chain. Moreover, distinctions between public and private hubs will likely blur, while only the strongest electronic hubs with the most profitable operations strategies will be able to succeed in the long run. Conducts analysis to the e-hubs supply chain, followed by a comparative analysis of the current situation supported by examples of successful e-hubs. As a consequence, provides a benchmarking basis for organizations wishing to incorporate the know-how and experience of these successful hubs into their own business. Finally, a forecast to future trends in the e-hub market space is conducted along with recommendations. Research methodologyA substantial amount of literature has already been written on the topic of supply chain benchmarking. As yet however, the connection between this topic and the benefits of electronic hubs (e-hubs) is still in need of further elaboration. This article seeks to integrate and enhance the existing literature with new findings on successful e-hub operating practices. Hence, this study is based on an extensive review of existing literature regarding both supply chain benchmarking and operating aspects of e-hubs. The important findings of both areas are summarized and integrated into a framework for comparison. Special emphasis was placed on the coverage of the following points:. According to which criteria can the current e-hub environment be structured?. What characteristics distinguish one e-hub from another and which of these can be regarded as success factors?.What is the status quo of supply chain practice?The research register for this journal is available at

In the current situation of the global economy, engaging in strategic alliances depends upon several factors in which the national and organizational cultures of the companies are involved. This paper discusses the cultural differences between the German and the American culture by applying Hofstede's "value" dimension system and how these differences affect the formation of strategic alliances and outcomes. Furthermore, the paper examines whether literature sustains the fact that Hofstede's value model can be used to sufficiently distinguish between the German and the American culture. OverviewInternational trade is growing and the term "globalization" leads the international way of doing business. Exports and imports of the USA are expected to rise from 13 percent in 1998 up to 20.2 percent in 2008 (Saunders and Su, 1999). Where mergers and acquisitions were still the appropriate tool to encounter the global market during the past ten years, strategic alliances are, according to Goldsmith et al. (2000), the actual tools nowadays. Especially for small and medium sized companies (Steensma et al., 2000), as well as for start-ups, strategic alliances are much more advantageous than mergers (Baum et al., 2000). Strategic alliances occur when two or more firms contribute their physical, financial, human, and technological resources or expertise to achieve competitive advantage (Das and Teng, 1998).

There is increased interest in online MBA programs across the globe. This paper attempts to review and assess online MBA programs and what lessons other universities and students can learn from them. It attempts to compare between the online and the traditional MBA. In addition, a thorough evaluation of the strengths, weaknesses, opportunities, and threats of the online MBA is made. The evaluation considers point of views from universities, professors, and students that combined together will assess the future and growth of``global MBAs''. An earlier version of this paper titled``Strengths, weaknesses, opportunities, and threats for the on-line MBA programs: a literature review for its future'' has appeared on the Internet, September 2001 issue, USDLA Journal, by Y. Kathawala and K. Abdou. Colorado State University $416 per credit Videotapes of classes sent each week Threaded discussions and chats Drexel University $31,500 for 16 courses in advanced level Includes tuition, residencies, fees, and books 21-months program No foundation courses online Three-on campus weekend residencies Executive mentors, enterprise resource planning as unifying theme Duke University $89,700 Includes computer, printer, lodging, and meals for residential sessions Global executive MBA Five residencies required on five continents Indiana Wesleyan $280 per credit hour 46 credit hour average to completion One course delivered on each of three-day on-site sessions Live chats National University of San Diego $925 per class 12 classes Courses each last two months CD-ROM, Internet, and Intranet Notre Dame University $26,130 that includes all books, course materials and room and board Two required weekends, and one 12-day trip Ohio University $32,000. Includes lodging for residencies, laptop computer, and software Nine major learning projects Three one-week residencies Intranet real-time meetings Electronic tutorials Suffolk University $1,845 per course $120 technology fee per course 11-16 courses EMBA Slide shows, video clips, threaded discussions, and chat rooms University of Missouri at St Louis $595 per credit nonresident 48 credits Includes books, software, and meals Meets one weekend per month on campus 23 months of 12-week classes Learning teams University of Phoenix $485 per credit 51 credits Classes offered one at a time five-to six-week classes Computer conferencing Business plan project University of Wisconsin-Whitewater $708.50 per credit nonresident tuition $40 technology fee 36-credit minimum Learning Space software CD-ROM presentations Threaded discussions