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Eliminating the Pass-Through : Towards FDI Statistics that Better Capture the Financial and Economic Linkages between Countries
Borga, Maria - 2018
FDI plays a central role in managing global production networks, but FDI statistics also reflect other factors, including tax avoidance, that make it difficult to differentiate between FDI for "long-term" investments that serves as a source of growth and FDI that is purely financial and has...
Persistent link: https://www.econbiz.de/10012480682
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Foreign Ownership and Firm Performance : Emerging-Market Acquisitions in the United States
Chari, Anusha - 2009
This paper examines the recent upsurge in foreign acquisitions of U.S. firms, specifically focusing on acquisitions made by firms located in emerging markets. Neoclassical theory predicts that, on net, capital should flow from countries that are capital-abundant to countries that are...
Persistent link: https://www.econbiz.de/10012463861
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Cross-Border Acquisitions and Target Firms' Performance : Evidence From Japanese Firm-Level Data
Fukao, Kyoji - 2006
Moreover, we find that there is no positive impact on target firms' profitability in the case of both within-group in-in acquisitions and in-in acquisitions by domestic outsiders. In fact, in the manufacturing sector, the return on assets even deteriorated one year and two years after...
Persistent link: https://www.econbiz.de/10012466243
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Foreign Owners and Plant Survival
Bernard, Andrew B. - 2003
In recent years, international capital flows of all types have increased dramatically and most governments have been actively encouraging inflows of direct investment. However, concerns remain that reliance on foreign multinationals may be a risky development strategy as foreign firms are likely...
Persistent link: https://www.econbiz.de/10012468657
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Surviving the Global Financial Crisis : Foreign Ownership and Establishment Performance
Alfaro, Laura - 2011
We examine the differential response of establishments to the recent global financial crisis with particular emphasis on the role of foreign ownership. Using a worldwide establishment panel dataset, we investigate how multinational subsidiaries around the world responded to the crisis relative...
Persistent link: https://www.econbiz.de/10012461517
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Resource Misallocation in European Firms : The Role of Constraints, Firm Characteristics and Managerial Decisions
Gorodnichenko, Yuriy - 2018
Using a new survey, we show that the dispersion of marginal products across firms in the European Union is about twice as large as that in the United States. Reducing it to the US level would increase EU GDP by more than 30 percent. Alternatively, removing barriers between industries and...
Persistent link: https://www.econbiz.de/10012453270
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Chains of Ownership, Regional Tax Competition, and Foreign Direct Investment
Desai, Mihir A. - 2002
parent company and level of FDI. Tax effects are particularly strong within Europe, where ten percent higher tax rates are …
Persistent link: https://www.econbiz.de/10012469485
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Global Production with Export Platforms
Tintelnot, Felix - 2016
Most international commerce is carried out by multinational firms, which use their foreign affiliates both to serve the market of the host country and to export to other markets outside the host country. In this paper, I examine the determinants of multinational firms' location and production...
Persistent link: https://www.econbiz.de/10012456439
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Tobin's Q, Corporate Diversification and Firm Performance
Lang, Larry H.P. - 1993
In this paper, we show that Tobin's q and firm diversification are negatively related. This negative relation holds for … different diversification measures and when we control for other known determinants of q. We show further that diversified firms … number of segment constant. Our evidence is consistent with the view that firms seek growth through diversification when they …
Persistent link: https://www.econbiz.de/10012474577
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Business Groups in Canada : Their Rise and Fall, and Rise and Fall Again
Morck, Randall - 2015
Family-controlled pyramidal business groups were important in Canada early in the 20th century, amid rapid catch-up industrialization, but largely gave way to widely held free-standing firms by mid- century. In the 1970s and early 1980s - an era of high inflation, financial reversal,...
Persistent link: https://www.econbiz.de/10012456963