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

Conceptual Aspects of Global Value Chains

Antràs, Pol - 2019

I offer an overview of some key conceptual aspects associated with the rise of global value chains (GVCs). I outline a series of alternative interpretations and definitions of what the rise of GVCs entails, and I trace the implications of these alternative conceptualizations for the measurement...

Persistent link: https://www.econbiz.de/10012480483

Globalization and Pandemics

Antràs, Pol - 2020

We develop a model of human interaction to analyze the relationship between globalization and pandemics. Our framework …

Persistent link: https://www.econbiz.de/10012481143

De-Globalisation? Global Value Chains in the Post-COVID-19 Age

Antràs, Pol - 2020

This paper evaluates the extent to which the world economy has entered a phase of de-globalisation, and it offers some speculative thoughts on the future of global value chains in the post-COVID-19 age. Although the growth of international trade flows relative to that of GDP has slowed down...

Persistent link: https://www.econbiz.de/10012482334

Offshoring in a Knowledge Economy

Antràs, Pol - 2005

globalization. Globalization leads to better matches for all southern workers but only for the best northern workers. As a result …, we show that globalization increases wage inequality in the South but not necessarily in the North. We also study how … globalization affects the size distribution of firms and the patterns of consumption and trade in the global economy …

Persistent link: https://www.econbiz.de/10012467591

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

Global Value Chains

Antràs, Pol; Chor, Davin - National Bureau of Economic Research - 2021

This paper surveys the recent body of work in economics on the importance of global value chains (GVCs) in shaping international trade flows and multinational activity. On the empirical front, we begin reviewing several variants of the "macro approach" to measuring the relevance of global...

Persistent link: https://www.econbiz.de/10012496102

Organizing the Global Value Chain

Antràs, Pol - 2012

We develop a property-rights model of the firm in which production entails a continuum of uniquely sequenced stages. In each stage, a final-good producer contracts with a distinct supplier for the procurement of a customized stage-specific component. Our model yields a sharp characterization for...

Persistent link: https://www.econbiz.de/10012460498

On the Geography of Global Value Chains

Antràs, Pol - 2017

This paper develops a multi-stage general-equilibrium model of global value chains (GVCs) and studies the specialization of countries within GVCs in a world with barriers to international trade. With costly trade, the optimal location of production of a given stage in a GVC is not only a...

Persistent link: https://www.econbiz.de/10012455225