Similar Search Results

Internationalization and the evolution of corporate valuation

Levine, Ross - 2005

"By documenting the evolution of Tobin's "q" before, during, and after firms internationalize, this paper provides evidence on the bonding, segmentation, and market timing theories of internationalization. Using new data on 9,096 firms across 74 countries over the period 1989-2000, we find that...

Persistent link: https://www.econbiz.de/10010522397

Internationalization and the Evolution of Corporate Valuation

Levine, Ross - 2005

By documenting the evolution of Tobin's "q" before, during, and after firms internationalize, this paper provides evidence on the bonding, segmentation, and market timing theories of internationalization. Using new data on 9,096 firms across 74 countries over the period 1989-2000, we find that...

Persistent link: https://www.econbiz.de/10012467664

Migration, Spillovers,and Trade Diversion : The Impact of Internationalization on Stock Market Liquidity

Levine, Ross - 2003

What is the impact of firms that cross-list, issue depositary receipts, or raise capital in international stock markets on the liquidity of remaining firms in domestic markets? Using a panel of over 3,200 firms from 55 countries during 1989-2000, we find that internationalization reduces the...

Persistent link: https://www.econbiz.de/10012469086

Market Integration and Contagion

Bekaert, Geert - 2003

to providing new insights on contagion during crisis periods, we document patterns through time in world and regional …

Persistent link: https://www.econbiz.de/10012469193

International Financial Integration and Economic Growth

Edison, Hali J. - 2002

This paper uses new data and new econometric techniques to investigate the impact of international financial integration on economic growth and also to assess whether this relationship depends on the level of economic development, financial development, legal system development, government...

Persistent link: https://www.econbiz.de/10012469546

Dating the Integration of World Equity Markets

Bekaert, Geert - 1998

Measuring the integration of world capital markets is notoriously difficult. For example, regulatory changes which … equity market becomes financially integrated with world capital markets. We find endogenous break dates that are very … markets are on average larger and more liquid than before; returns are more volatile and more highly correlated with the world …

Persistent link: https://www.econbiz.de/10012472089

Time-Varying World Market Integration

Bekaert, Geert - 1994

-switching model, allows us to describe expected returns in countries that are segmented from world capital markets in one part of the …

Persistent link: https://www.econbiz.de/10012474072

The Global Rise of Corporate Saving

Chen, Peter - 2017

The sectoral composition of global saving changed dramatically during the last three decades. Whereas in the early 1980s most of global investment was funded by household saving, nowadays nearly two-thirds of global investment is funded by corporate saving. This shift in the sectoral composition...

Persistent link: https://www.econbiz.de/10012455548

On the Global Financial Market Integration “Swoosh” and the Trilemma

Bekaert, Geert - 2017

We propose a simple measure of de facto financial market integration based on a factor model of monthly equity returns, which can be computed back to the first era of financial globalization for 17 countries. Global financial market integration follows a "swoosh" shape - i.e. high pre-1913,...

Persistent link: https://www.econbiz.de/10012455557

Corporate Debt Structure with Home and International Currency Bias

Maggiori, Matteo; Neiman, Brent; Schreger, Jesse - National Bureau of Economic Research - 2023

We explore the consequences of global capital market segmentation by currency for the optimal currency composition of borrowing by firms. Global bond portfolios are driven by the currency of denomination of assets as investors prefer to lend in their home currency or the international currency,...

Persistent link: https://www.econbiz.de/10014437022