Valuing Short-Term Study Abroad in Business

Chung-Ping Albert Loh · Jeffrey W. Steagall · Andrés A. Gallo · Jeffrey E. Michelman

21 citations0/0 files storedJournal of Teaching in International Business

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International Student and Expatriate Challenges Management and Marketing Education Economic and Environmental Valuation

Abstract

Short-term study abroad courses often claim to provide a unique experience for students, but it is not clear how the value translates into a dollar amount. The paper uses the contingent valuation method to assess participating students' pre- and post-trip perceived dollar value of their study abroad courses at an AACSB accredited business school. We identify a number of benefits associated with the maximum willingness to pay and find that the maximum willingness to pay exceeds the actual cost of the trip, sometimes by a large margin. In addition, we offer a set of learning objectives appropriate to business study abroad courses.

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References

1991The theory of planned behavior 1989Using surveys to value public goods: the contingent valuation method 1991Statistical Efficiency of Double‐Bounded Dichotomous Choice Contingent Valuation 1990Using Surveys to Value Public Goods: The Contingent Valuation Method 1979Measuring Values of Extramarket Goods: Are Indirect Measures Biased?2008Going Global: Understanding the Choice Process of the Intent to Study Abroad 1997Modeling Response Incentive Effects in Dichotomous Choice Contingent Valuation Data 2010Who Plans (Not) to Study Abroad? An Examination of U.S. Student Intent

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2020International Short-Term Trips and the Development of a Global Mindset in Business Students 2019Implementing experiential action learning in the MBA: use of an international consulting experience 2021International Double Degree Programs as Accelerators for Internationalization: Lessons from the Trans-Atlantic Business School Alliance 2022Study Abroad: Benefits, Concerns, Who Goes and Why?2015Encouraging Short-Term Study Abroad by Understanding Its Value to IB Education

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