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Asset Ownership and Foreign-Market Entry
Raff, Horst; Ryan, Michael; Stähler, Frank - CESifo - 2006
This paper examines the link between a firm’s ownership of productive assets and its choice of foreign-market entry strategy. We find that, controlling for industry- and country-specific characteristics, the most productive firms (i.e., those owning the most assets) will enter through...
Persistent link: https://www.econbiz.de/10005405763
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Collateral and its Substitutes in Emerging Markets' Lending
Menkhoff, Lukas; Neuberger, Doris; Rungruxsirivorn, Ornsiri - CESifo - 2011
Due to opaque information and weak enforcement in emerging loan markets, the need for collateral is high, whereas … borrowers lack adequate assets to pledge as collateral. How is this puzzle solved? We find for a representative sample from … Northeast Thailand that indeed most loans do not include any tangible assets as collateral. Instead, lenders enforce collateral …
Persistent link: https://www.econbiz.de/10009320789
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Financial Frictions and Foreign Direct Investment: Theory and Evidence from Japanese Microdata
Raff, Horst; Ryan, Michael; Stähler, Frank - CESifo - 2015
identify two possible transmission channels from financial shocks to FDI: (i) a collateral channel, whereby changes in the … value of collateral affect investors’ ability to borrow; and (ii) a lending channel, whereby changes in bank health affect …
Persistent link: https://www.econbiz.de/10011205374
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Same Same But Different: Dialects and Trade
Lameli, Alfred; Nitsch, Volker; Suedekum, Jens; Wolf, … - CESifo - 2013
finding as evidence for the effect of culture on trade. …
Persistent link: https://www.econbiz.de/10010877639
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Why are Educated and Risk-Loving Persons More Mobile Across Regions
Bauernschuster, Stefan; Falck, Oliver; Heblich, Stephan; … - CESifo - 2012
Why are better educated and more risk-friendly persons more mobile across regions? To answer this question, we use micro data on internal migrants from the German Socio-Economic Panel (SOEP) 2000–2006 and merge this information with a unique proxy for region-pair-specific cultural distances...
Persistent link: https://www.econbiz.de/10010877921
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Do Ethnic Enclaves Impede Immigrants' Integration? Evidence from a Quasi-Experimental Social-Interaction Approach
Danzer, Alexander M.; Yaman, Firat - CESifo - 2012
It is widely debated whether immigrants who live among co-ethnics are less willing to integrate into the host society. Exploiting the quasi-experimental guest worker placement across German regions during the 1960/70s as well as information on immigrants’ inter-ethnic contact networks and...
Persistent link: https://www.econbiz.de/10010877983
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The Cost of Migrating to a Culturally Different Location
Falck, Oliver; Lameli, Alfred; Ruhose, Jens - CESifo - 2014
Ever since Sjaastad (1962), researchers have struggled to quantify the psychic cost of migration. We monetize psychic cost as the wage premium for moving to a culturally different location. We combine administrative social security panel data with a proxy for cultural difference based on...
Persistent link: https://www.econbiz.de/10010948845
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The Scope of Cooperation: Values and Incentives
Tabellini, Guido - CESifo - 2008
What explains the range of situations in which individuals cooperate? This paper studies a model where individuals respond to incentives but are also influenced by norms of good conduct inherited from earlier generations. Parents rationally choose what values to transmit to their offspring, and...
Persistent link: https://www.econbiz.de/10005249467
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Does Culture Affect Unemployment? Evidence from the Röstigraben
Brügger, Beatrix; Lalive, Rafael; Zweimüller, Josef - CESifo - 2009
This paper studies the role of culture in shaping unemployment outcomes. The empirical analysis is based on local … political jurisdictions. Local contrasts across the language border identify the role of culture for unemployment. Our findings … indicate that differences in culture explain differences in unemployment duration on the order of 20 %. Moreover, we find that …
Persistent link: https://www.econbiz.de/10005013065
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International Trade, Factor Mobility and the Persistence of Cultural-Institutional Diversity
Belloc, Marianna; Bowles, Samuel - CESifo - 2009
Cultural and institutional differences among nations may result in differences in the ratios of marginal costs of goods in autarchy and thus be the basis of specialization and comparative advantage, as long as these differences are not eliminated by trade. We provide an evolutionary model of...
Persistent link: https://www.econbiz.de/10005013942