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Organization of Multinational Activities and Ownership Structure
Mugele, Christian; Schnitzer, Monika - C.E.P.R. Discussion Papers - 2006
assume that investors face costs of control that vary among sectors and increase in distance. The results show that (i … distance may have a non-monotonous effect on the likelihood of horizontal investments, and (iii) that globalization, if … understood as reducing distance, leads to more integration. …
Persistent link: https://www.econbiz.de/10005791570
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Grossman-Hart (1986) Goes Global: Incomplete Contracts, Property Rights, and the International Organization of Production
Antràs, Pol - C.E.P.R. Discussion Papers - 2011
I survey the influence of Grossman and Hart's (1986) seminal paper in the field of International Trade. I discuss the implementation of the theory in open-economy environments and its implications for the international organization of production and the structure of international trade flows. I...
Persistent link: https://www.econbiz.de/10009320400
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Global Sourcing
Antràs, Pol; Helpman, Elhanan - C.E.P.R. Discussion Papers - 2004
We present a North-South model of international trade in which differentiated products are developed in the North. Sectors are populated by final-good producers who differ in productivity levels. Based on productivity and sectoral characteristics, firms decide whether to integrate into the...
Persistent link: https://www.econbiz.de/10005788904
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Intellectual Property Rights and Entry into a Foreign Market: FDI vs Joint Ventures
Leahy, Dermot; Naghavi, Alireza - C.E.P.R. Discussion Papers - 2006
This paper investigates how the mode of entry into a foreign market can be influenced by the intensity of R&D in an industry and the protection of intellectual property rights (IPR) in a recipient country. It then analyzes the link between the IPR regime and policies that place limits on the...
Persistent link: https://www.econbiz.de/10005136765
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On the Genesis of Multinational Foreign Affiliate Networks
Egger, Peter; Fahn, Matthias; Merlo, Valeria; Wamser, Georg - C.E.P.R. Discussion Papers - 2011
the degree of correlation depending on issues such as the geographical or cultural distance between markets. This …
Persistent link: https://www.econbiz.de/10009246612
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Who is Afraid of Political Risk? Multinational Firms and their Choice of Capital Structure
Kesternich, Iris; Schnitzer, Monika - C.E.P.R. Discussion Papers - 2007
This paper investigates how multinational firms choose the capital structure of their foreign affiliates in response to political risk. We focus on two choice variables, the leverage and the ownership structure of the foreign affiliate, and we distinguish different types of political risk, such...
Persistent link: https://www.econbiz.de/10005067659
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Vertical Integration and Technology: Theory and Evidence
Acemoglu, Daron; Aghion, Philippe; Griffith, Rachel; … - C.E.P.R. Discussion Papers - 2005
This paper investigates the determinants of vertical integration. We first derive a number of predictions regarding the relationship between technology intensity and vertical integration from a simple incomplete contracts model. Then, we investigate these predictions using plant-level data for...
Persistent link: https://www.econbiz.de/10005123944
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From Learning to Partnership. Multinational R&D Cooperation in Developing Countries
Barba Navaretti, Giorgio; Carraro, Carlo - C.E.P.R. Discussion Papers - 1997
This paper is a first attempt to analyse the determinants of inter-firm R&D agreements between advanced and developing countries, i.e. between firms with asymmetric endowments of knowledge. It shows that international dispersion of R&D activity by multinationals also concerns developing...
Persistent link: https://www.econbiz.de/10005124163
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When is FDI a Capital Flow?
Marin, Dalia; Schnitzer, Monika - C.E.P.R. Discussion Papers - 2006
In this paper we analyze the conditions under which a foreign direct investment (FDI) involves a net capital flow across countries. Frequently, foreign direct investment is financed in the host country without an international capital movement. We develop a model in which the optimal choice of...
Persistent link: https://www.econbiz.de/10005791956
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Investments in physical capital, relationship-specificity, and the property rights approach
Schmitz, Patrick W - C.E.P.R. Discussion Papers - 2013
We reconsider the property rights approach to the theory of the firm based on incomplete contracts. We explore the implications of different degrees of relationship-specificity when there are two parties, A and B, who can make investments in physical capital (instead of human capital). If...
Persistent link: https://www.econbiz.de/10011083975