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Cross-Border and Foreign Affiliate Sales of Services : Evidence from German Micro-Data

Kelle, Markus - 2012

We merge German balance-of-payments and foreign-affiliate-trade statistics to obtain data about trade in commercial services at the firm level. We use these data to study export market participation and the choice of export mode: cross-border versus foreign affiliate sales. We find that for...

Persistent link: https://www.econbiz.de/10013106910

Horizontal versus Vertical Interdependence in Multinational Activity

Badinger, Harald - 2008

Recent research in international economics highlights the role of interdependencies of investment decisions and sales of multinational firms. Previous work focused on and provided evidence for aggregate flows or stocks of foreign direct investment, showing that interdependence declines in...

Persistent link: https://www.econbiz.de/10012771644

Thin Capitalization Rules and Multinational Firm Capital Structure

Blouin, Jennifer - 2014

This paper examines the impact of thin capitalization rules that limit the tax deductibility of interest on the capital structure of the foreign affiliates of US multinationals. We construct a new data set on thin capitalization rules in 54 countries for the period 1982-2004. Using confidential...

Persistent link: https://www.econbiz.de/10013055986

The Impact of Thin Capitalization Rules on the Location of Multinational Firms' Foreign Affiliates

Merlo, Valeria - 2015

This paper examines how restrictions on the tax-deductibility of interest cost affect location choices of multinational corporations (MNCs). Many countries have introduced so-called thin-capitalization rules (TCRs) to prevent MNCs from shifting tax base to countries with lower tax rates. As of...

Persistent link: https://www.econbiz.de/10013018273

Debt Financing and Sharp Currency Depreciations : Wholly vs. Partially Owned Multinational Affiliates

Hebous, Shafik; Weichenrieder, Alfons J. - 2021

This paper provides empirical evidence on two potential costs of shared ownership of German affiliates abroad. First, in periods of currency crises, wholly-owned affiliates, in contrast to partially-owned affiliates, seem to circumvent financial constraints by accessing capital from their parent...

Persistent link: https://www.econbiz.de/10013316273

There's No Place Like Home : The Profitability Gap between Headquarters and their Foreign Subsidiaries

Dischinger, Matthias; Riedel, Nadine - 2021

Using a large data set of European firms, this paper provides evidence that operations at multinational headquarters are significantly more profitable than operations at their foreign subsidiaries. The effect turns out to be robust and quantitatively large. Our findings suggest that the...

Persistent link: https://www.econbiz.de/10013316283

Former Foreign Affiliates : Cast Out and Outperformed?

Javorcik, Beata Smarzynska - 2015

The literature has documented a positive effect of foreign ownership on firm performance. But is this effect due to a one-time knowledge transfer or does it rely on continuous injections of knowledge? To shed light on this question we focus on divestments, that is, foreign affiliates that are...

Persistent link: https://www.econbiz.de/10013030495

Market Competition and Efficient Cooperation

Brandts, Jordi - 2017

effects of participation in markets on non-market activities requiring cooperation. In our setup, market interaction takes …-Strangers. We compare the efficiency of cooperation with and without market experience controlling for earnings, allowing us to … effect on cooperation efficiency in Market-Partners, that is among those who had to compete with each other on on the same …

Persistent link: https://www.econbiz.de/10012970051

Competition for FDI and Profit Shifting

Ma, Jie - 2015

When countries compete for the location of a new multinational plant they need to be aware of the profit shifting opportunities this new plant creates for the global multinational firm. By modelling explicitly the multinational's intra-firm transactions, we show that the home market advantage...

Persistent link: https://www.econbiz.de/10013029510

Why do Foreign Banks Withdraw from Other Countries? A Panel Data Analysis

Hryckiewicz, Aneta - 2013

This paper describes the trends in foreign bank ownership across the world and presents, for the first time, empirical evidence of the causes of multinational banks' exits from other countries. Using panel data for 149 closed or divested foreign bank subsidiaries across 54 countries from 1997 to...

Persistent link: https://www.econbiz.de/10013094859

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