International Business Specializations of Accounting, Finance and Marketing Professors, 1994-2003

Article excerpt

ABSTRACT

This study investigates the extent of international business specializations within the teaching and research interests of professors at over 800 U.S. colleges and universities in three disciplines, namely, accounting, finance, and marketing. It is facilitated by focusing on two groups of educators. The first group consists of named/titled professors as per the Hasselback faculty directories for the three disciplines during the academic years 1994-1995, 2000-2001, and 2002-2003. The second group consists of randomly selected instructors in each of the three fields from the three academic years. By and large, no clear upward trends in international business specializations within the teaching and research interests are detected over the study period for either group of professors in any of the three fields. In relative terms, the finance and marketing educators are found to specialize in international areas of their fields far more than the accounting educators. With respect to the teaching and research interests of named finance professors in the international finance area, the evidence shows some unmistakable declining patterns over the study period. Similar declining trends are also observed for the international marketing specializations of the randomly selected marketing professors. The findings do reveal a bright spot in that the teaching and research interests of the randomly selected finance professors in the international finance area peaked in 2002-2003, the latest year covered by the study.

JEL Classifications: M19, M39, M49, GOO

Key words: International Business, Business Professors, Teaching and research interests

INTRODUCTION

This paper investigates the teaching and research interests of professors of accounting, finance and marketing at U.S. colleges and universities pertaining to their specializations in multinational business. The stimulus for this study stems from several interconnected factors. First and foremost, the business environment has exhibited strong trends toward globalization in almost every aspect in the last 25 years. The internationalization of financial markets and the resulting 24hour marketplace for numerous financial assets just serves as one glaring example of business globalization. Even in some fields where one could not have imagined a global market place and therefore, an existence of global competition just 5 years ago, such a possibility has become a reality. The markets for medical care, surgeries as well as post-operative recovery have also now become worldwide. In a newly emerging field called "Medical Tourism," patients from all of over the globe consider India and Thailand, among others, as viable alternatives to many highly developed and well established medical care locations.

Second, according to Kedia, Harveston and Bhagat (2001), "As businesses confront increasing international challenges, the need for developing managers who can understand and effectively meet the demands of the global marketplace becomes critical. While the responsibility of developing such international managers of tomorrow may lie in different sectors of the economy, we suggest that business schools have a special role in inculcating appropriate global mindset, knowledge base, and skills." Indeed, U.S. colleges and universities have accepted the challenge of training their students to enter and embrace the global market arena, and accordingly, more and more schools have created opportunities for students to choose international business as a major or a minor. By June 2005, of the 430 AACSB accredited U.S. schools, 8 1 were offering undergraduate degrees in international business (IB) and 48 were offering graduate degrees in IB. Third, presently 28 schools have been designated as Centers of International Business Education and Research (CIBERs) (see Scherer, et al, 2003). Fourth, numerous business administration colleges have created centers or institutes or divisions of international/multinational/global business to form alliances with multinational business organizations, or state and local world trade centers, etc. …