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Can innovation help US manufacturing firms escape import competition from China?

Hombert, Johan; Matray, Adrien - 2014

We study whether R&D-intensive firms are more resilient to trade shocks. We correct for the endogeneity of R&D using tax-induced changes to R&D cost. While rising imports from China lead to slower sales growth and lower profitability, these effects are significantly smaller for firms with a...

Persistent link: https://www.econbiz.de/10010502057

Accounting quality and debt concentration : evidence from internal control weakness disclosures

Li, Ningzhong; Lou, Yun; Otto, Clemens A.; Moerman, … - 2014

We examine the relation between accounting quality and debt concentration in corporate capital structures (i.e., firms' tendency to rely predominantly on only a few types of debt). Motivated by theoretical and empirical research that supports a strong link between debt concentration and...

Persistent link: https://www.econbiz.de/10010502053

Political activism and firm innovation

Ovtchinnikov, Alexei V.; Reza, Syed Walid; Wu, Yanhui - 2014

Political activism positively affects firm innovation. Firms that support more politicians, politicians on … innovation. The results are consistent with the hypothesis that political activism is valuable because it helps reduce political … uncertainty, which, in turn, fosters firm innovation. Also consistent with this hypothesis, we show that politically active firms …

Persistent link: https://www.econbiz.de/10010501442