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Shareholders and Stakeholders: Human Capital and Industry Equilibrium
Ippolito, Roberto; Miller, Marcus; Zhang, Lei - C.E.P.R. Discussion Papers - 1997
guarantees (conditional on no-bankruptcy) leads to wage hikes which (by forcing exit of some firms thus increasing monopoly power …
Persistent link: https://www.econbiz.de/10005504300
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Corporate Social Responsibility and Firm Risk: Theory and Empirical Evidence
Albuquerque, Rui; Durnev, Artyom; Koskinen, Yrjö - C.E.P.R. Discussion Papers - 2013
This paper presents an industry equilibrium model where firms can choose to engage in corporate social responsibility (CSR) activities. We model CSR activities as an investment in customer loyalty and show that CSR decreases systematic risk and increases firm value. These effects are stronger...
Persistent link: https://www.econbiz.de/10011083749
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Contractual Institutions, Financial Development and Vertical Integration: Theory and Evidence
Macchiavello, Rocco - C.E.P.R. Discussion Papers - 2006
This paper develops an industry equilibrium model of vertical integration under contractual imperfections with specific input suppliers and external investors. I assume that vertical integration economizes on the needs for contracts with specific input suppliers at the cost of higher financial...
Persistent link: https://www.econbiz.de/10005661857
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Spillovers through backward linkages from multinationals: Measurement matters!
Barrios, Salvador; Görg, Holger; Strobl, Eric - C.E.P.R. Discussion Papers - 2009
potentially problematic, as they depend on a number of restrictive assumptions, namely that (i) multinationals use domestically … produced inputs in the same proportion as imported inputs, (ii) multinationals have the same input sourcing behaviour as … domestic firms, irrespective of their country of origin, and (iii) the demand for locally produced inputs by multinationals is …
Persistent link: https://www.econbiz.de/10008506837
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Does FDI Work as a Channel for R&D Spillovers? Evidence Based on Swedish Data
Braconier, Henrik; Ekholm, Karolina; Ulltveit-Moe, … - C.E.P.R. Discussion Papers - 2000
Multinational enterprises (MNEs) are important in transmitting technology across national borders. Not only do they allow for transfer of technology within the firm, but it is also believed that they are important channels for international R&D spillovers as well. This paper analyses empirically...
Persistent link: https://www.econbiz.de/10005123965
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Industry Reallocations in a Globalizing Economy
Behrens, Kristian; Mion, Giordano; Ottaviano, Gianmarco - C.E.P.R. Discussion Papers - 2007
We distill the main insights from recent trade models on firms' responses to globalisation. Our primary aim is to assess the economic impact and the welfare implications of the resulting reallocation of resources across firms and countries. In so doing, we bring theory into life through the...
Persistent link: https://www.econbiz.de/10005136703
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Agglomeration, Backward and Forward Linkages: Evidence from South Korean Investment in China
Debaere, Peter; Lee, Joonhyung; Paik, Myungho - C.E.P.R. Discussion Papers - 2008
With a firm-level dataset, we study the location decision of all South Korean multinationals across China's regions … affiliates from South Korean multinationals. More importantly, we decompose these agglomeration effects into a pure agglomeration …
Persistent link: https://www.econbiz.de/10005498020
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Multinationals, Endogenous Growth and Technological Spillovers: Theory and Evidence
Baldwin, Richard; Braconier, Henrik; Forslid, Rikard - C.E.P.R. Discussion Papers - 1999
FDI has received surprisingly little attention in theoretical and empirical work on openness and growth. This paper presents a theoretical growth model where MNCs directly affect the endogenous growth rate via technological spillovers. This is novel since other endogenous growth models with...
Persistent link: https://www.econbiz.de/10005504277
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Reversing the Perspective: Multinationals from Middle-Income Countries
Debaere, Peter - C.E.P.R. Discussion Papers - 2004
I study the internal organization of production between the parent and the affiliate in the multinational corporation (MNC) and the extent to which it depends on the factor abundance of the destination country of the affiliates relative to the home country. I use a unique South Korean firm-level...
Persistent link: https://www.econbiz.de/10005504631
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Importance of International Linkages for Local Know-How Flows: Some Econometric Evidence From Belgium
Cassiman, Bruno; Veugelers, Reinhilde - C.E.P.R. Discussion Papers - 1999
international technology market that multinationals enjoy, we find that these firms are not more likely to transfer technology to …
Persistent link: https://www.econbiz.de/10005656268