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Innovation and corporate cash holdings in the era of globalization
Adler, Konrad; Ahn, JaeBin; Dao, Mai - 2019
We document a broad-based trend in rising cash holdings of firms across major industrialized countries over the last two decades, a trend that is most pronounced for firms engaged strongly in R and D activities. Our contributions to the literature are twofold. First, we develop a simple model...
Persistent link: https://www.econbiz.de/10012001582
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The rise in corporate saving and cash holding in advanced economies : aggregate and firm level trends
Dao, Mai; Maggi, Chiara - 2018
Using cross-country national accounts and firm-level data, we document a broad-based trend in rising gross saving and net lending of non-financial corporates across major industrialized countries over the last two decades, though most pronounced in countries with persistent current account...
Persistent link: https://www.econbiz.de/10011978446
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Global corporate stress tests : impact of the COVID-19 pandemic and policy responses
Tressel, Thierry; Ding, Xiaodan - 2021
Corporate sector vulnerabilities have been a central policy topic since the outset of the COVID-19 pandemic. In this paper, we analyze some 17,000 publicly listed firms in a sample of 24 countries, and assess their ability to withstand shocks induced by the pandemic to their liquidity, viability...
Persistent link: https://www.econbiz.de/10012605125
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Global declining competition
Díez, Federico J.; Fan, Jiayue; Villegas-Sánchez, Carolina - 2019
power in global markets. First, competition has declined around the world, measured as a moderate increase in average firm …
Persistent link: https://www.econbiz.de/10012019850
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The short-term impact of product market reforms : a cross-country firm-level analysis
Gál, Peter; Hijzen, Alexander - 2016
This paper analyzes the effects of product market reforms in the short and medium term across 10 regulated industries and 18 advanced economies for the period 1998-2013 using internationally comparable firm-level data based on Orbis. It provides four key insights. First, product market reforms...
Persistent link: https://www.econbiz.de/10011711526
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How do regulations of entry and credit access relate to industry competition? : international evidence
Igan, Deniz; Mirzaei, Ali; Moore, Tomoe - 2018
We examine the extent to which regulations of entry and credit access are related to competition using data on 28 … competition, as proxied by the price-cost margin, in the industries with a naturally high entry rate. Rigid entry regulations are … exerting a positive effect on competition. These results suggest that incumbent firms are likely to enjoy the rent and market …
Persistent link: https://www.econbiz.de/10011848240
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Intellectual Property Rights and International RandD Competition
Scandizzo, Stefania - 2001
participation in the World Trade Organization, or, more controversially, some form of bilateral punishment, may be used …
Persistent link: https://www.econbiz.de/10014401239
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Unstash the cash! : corporate governance reform in Japan
Aoyagi, Chie; Ganelli, Giovanni - 2014
Persistent link: https://www.econbiz.de/10010441743
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On swing pricing and systemic risk mitigation
Malik, Sheheryar; Lindner, Peter - 2017
Swing pricing allows a fund manager to transfer to redeeming or subscribing investors the costs associated with their trading activity, thus potentially discouraging large flows. This liquidity management tool, which is already used in major jurisdictions, may also help mitigate systemic risk....
Persistent link: https://www.econbiz.de/10011705074
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Cashing in for growth : corporate cash holdings as an opportunity for investment in Japan
Sher, Galen - 2014
Persistent link: https://www.econbiz.de/10010479433