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Japanese firms that were acquired by foreign firms improves after the acquisition. In our previous study for the Japanese …) and profit rates than M&As by domestic firms. However, it may argued that firms acquired by foreign firms showed better … performance simply because foreign investors acquired more promising Japanese firms than Japanese investors did. In order to …
Persistent link: https://www.econbiz.de/10012466243
Persistent link: https://www.econbiz.de/10000112367
Starting in the late 1990s, China undertook a dramatic transformation of the large number of firms under state control. Small state-owned firms were privatized or closed. Large state-owned firms were corporatized and merged into large industrial groups under the control of the Chinese state. The...
Persistent link: https://www.econbiz.de/10012457662
We use administrative registration records with information on the owners of all Chinese firms to document the importance of "connected" investors, defined as state-owned firms or private owners with equity ties with state-owned firms, in the businesses of private owners. We document a hierarchy...
Persistent link: https://www.econbiz.de/10012482389
We estimate and attempt to explain the evolution of the taxes paid by U.S. multinationals on their foreign profits … after-tax returns. Foreign taxes fell abruptly after the first Gulf War. In sectors other than oil, the effective foreign … havens. The low foreign taxes paid by U.S. multinationals can explain half of the U.S. cross-border return differential …
Persistent link: https://www.econbiz.de/10012480636
The U.S. Bureau of Economic Analysis (BEA) estimates the return on investments of foreign subsidiaries of U ….S. multinational companies over the period 1982--2006 averaged 9.4 percent annually after taxes; U.S. subsidiaries of foreign … foreign and domestic locations. Used abroad, it generates profits for foreign subsidiaries with no foreign direct investment …
Persistent link: https://www.econbiz.de/10012464663
We quantify foreign direct investment (FDI) spillovers by comparing changes in total factor productivity (TFP) among … domestic plants in districts that attracted a large greenfield foreign plant and districts where greenfield FDI was licensed … greenfield foreign plant. Over the four years starting with the year of the opening, TFP of domestic plants is 8% higher in …
Persistent link: https://www.econbiz.de/10012453253
This paper studies international joint ventures, where foreign direct investment is performed by a foreign and a … Chinese firms chosen to be partners of foreign investors tend to be larger, more productive, and more likely subsidized than … larger if the foreign firm is from the U.S. rather than from Japan or Hong Kong, Macau, and Taiwan, while this effect is …
Persistent link: https://www.econbiz.de/10012453259
In this paper, we estimate the impact of increasing costs on foreign producers following a withdrawal of the United …. First, we assume that the United Kingdom unilaterally imposes tighter restrictions on foreign direct investment (FDI) from … fall in foreign investment and production by U.K. firms. The United Kingdom increases international lending, which finances …
Persistent link: https://www.econbiz.de/10012455464
data from 1989-2009. We compute the number of employees of foreign establishments in each of Vietnam's provinces for each … for households there if they do not have a member employed by the foreign enterprises, with only modest gains for … households who do have a member employed by the foreign enterprises. These estimates may reflect composition effects, however …
Persistent link: https://www.econbiz.de/10012455750