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Global Engagement and Returns Volatility
Girma, Sourafel - 2016
This paper uses high-frequency data for publicly-listed Japanese manufacturing firms over the period 2000 to 2010 to show that a greater reliance on foreign market sales increases the conditional volatility of firms' stock returns. The two margins of global engagement we consider, namely,...
Persistent link: https://www.econbiz.de/10013000911
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Did Globalization Influence Credit Market Deregulation?
Eppinger, Peter - 2015
We investigate whether globalization influenced credit market deregulation over the period 1970-2010. Globalization is … measured by the KOF indices of globalization. Credit market deregulation is measured by the credit market freedom indicators of … positive correlation between globalization and credit market deregulation. We account for reverse causality by using predicted …
Persistent link: https://www.econbiz.de/10013021420
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The International Organization of Production in the Regulatory Void
Herkenhoff, Philipp - 2020
international outsourcing and most strongly so for sourcing from low-regulation countries. Motivated by these findings, we introduce …
Persistent link: https://www.econbiz.de/10012852396
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Globalisation and the Mix of Wage and Profit Taxes
Haufler, Andreas - 2006
This paper analyses the development of the ratio of corporate taxes to wage taxes using a simple political economy model with internationally mobile and immobile firms. Among other results, our model predicts that countries reduce their corporate tax rate, relative to the wage tax, either when...
Persistent link: https://www.econbiz.de/10012780459
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The Domestic Segment of Global Supply Chains in China Under State Capitalism
Tang, Heiwai - 2014
This paper proposes methods to incorporate firm heterogeneity in the standard IO-table based approach to portray the domestic segment of global value chains in a country. Using Chinese firm census data for both manufacturing and service sectors, along with constrained optimization techniques, we...
Persistent link: https://www.econbiz.de/10013053056
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Managers as Knowledge Carriers - Explaining Firms' Internationalization Success with Manager Mobility
Meinen, Philipp - 2018
How does “what managers know” affect firm performance on international markets? This question is of considerable importance in the international economic literature. Answering it will be key for comprehending the way firms' varying performance on international markets is shaped by the human...
Persistent link: https://www.econbiz.de/10012912671
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Trade Restrictiveness Indices in Presence of Externalities : An Application to Non-Tariff Measures
Beghin, John - 2014
We extend the trade restrictiveness index approach to the case of market imperfections and domestic regulations addressing them. We focus on standard-like non-tariff measures (NTMs) affecting cost of production and potentially enhancing demand by reducing negative externalities. We apply the...
Persistent link: https://www.econbiz.de/10013046066
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Corruption and the Shadow Economy : An Empirical Analysis
Dreher, Axel; Schneider, Friedrich - 2021
This paper analyzes the influence of the shadow economy on corruption and vice versa. We hypothesize that corruption and shadow economy are substitutes in high income countries while they are complements in low income countries. The hypotheses are tested for a cross-section of 120 countries and...
Persistent link: https://www.econbiz.de/10013317657
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Effective Labor Taxation and the International Location of Headquarters
Egger, Peter H. - 2012
Profit taxes are widely acknowledged to influence the location of firms' headquarters. This paper sheds light on the role of aspects of labor taxation for the international location of headquarters. While profit taxes can be avoided in various ways, it is much harder for firms to manipulate the...
Persistent link: https://www.econbiz.de/10013106126
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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