Showing 1 - 10 of 1,038
This paper investigates stock performance in emerging markets in relation to their accessibility by foreign investors (as measured by the investability index of the IFC). Using the Stehle (1977) model, we reject for most markets integration and fail to reject for all segmentation. We find that...
Persistent link: https://www.econbiz.de/10012474361
We evaluate the 2017 Tax Cuts and Jobs Act. Combining reduced-form estimates from tax data with a global investment model, we estimate responses, identify parameters, and conduct counterfactuals. Domestic investment of firms with the mean tax change increases 20% versus a no-change baseline. Due...
Persistent link: https://www.econbiz.de/10014512034
causal interpretation. A model of technology transfer rationalizes these effects and also correctly predicts (i) falls in …
Persistent link: https://www.econbiz.de/10014250146
Climate-related risks have increased in recent decades, both in terms of the frequency of extreme weather events (physical risk) and implementation of climate-change mitigation policies (transition risk). This paper explores whether multinational firms react to such risks by altering their...
Persistent link: https://www.econbiz.de/10013388808
This paper theoretically and empirically analyzes the effect of strengthening intellectual property rights in developing countries on the level and composition of industrial development. We develop a North-South product cycle model in which Northern innovation, Southern imitation, and FDI are...
Persistent link: https://www.econbiz.de/10012465621
on technology transfer and how property rights might affect such transfers and host-country welfare. Much of this … local managers learn the multinational's technology and can defect to start a rival firm. If contract enforcement leads the …
Persistent link: https://www.econbiz.de/10012472357
We construct a dynamic general equilibrium model of foreign direct investment (FDI) and foreign technology adoption …, incorporating adoption barriers, international technology spillover, and relative price advantages. A higher FDI conversion efficacy …, a lower adoption barrier, or a stronger international technology spillover, together with a lower relative price of FDI …
Persistent link: https://www.econbiz.de/10014250176
heterogeneity at the country, technology class, and over time. Additional robustness tests with synthetic controls, coarsened exact …
Persistent link: https://www.econbiz.de/10014576575
We examine the impact of lost intellectual property protection on innovation, competition, acquisitions, lawsuits and employment agreements. We consider firms whose ability to protect intellectual property (IP) using patents is weakened following the Alice Corp. vs. CLS Bank International...
Persistent link: https://www.econbiz.de/10013462719
We provide evidence that over the past 30 years, U.S. firms have expanded their scope of operations. Increases in scope and scale were achieved largely without increasing traditional operating segments. Scope expansion significantly increases valuation and is primarily realized through...
Persistent link: https://www.econbiz.de/10013462720