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A multinational firm in its normal, day to day conduct of business becomes vulnerable to potential gains and losses due to changes in the values of its assets and liabilities that are denominated in foreign currencies. Exporting, importing, and investing abroad expose the firm to foreign...
Persistent link: https://www.econbiz.de/10014940632
Just a few years ago, active management of foreign exchange risks was confined to a relatively small number of multinational firms. With saturation of domestic markets, though, many firms have turned their attention to product markets abroad. Some have gone abroad in search of lower production...
Persistent link: https://www.econbiz.de/10014940633
Applied transfer pricing information has repeatedly been proven difficult to gather. Many enterprises work under secrecy regarding transfer pricing systems, believing that caution used in revealing information stymies possible problems related to transfer pricing that can involve internal and/or...
Persistent link: https://www.econbiz.de/10014940634
The designing of international transfer pricing systems needs to take into consideration a variety of factors that could ultimately affect the smooth operation of the systems. Many of these factors are organisational in nature, including organisational and personal perspectives toward transfer...
Persistent link: https://www.econbiz.de/10014940635
Two companion articles have considered transfer pricing objectives and factors influencing the designing of these systems. This article, the last in the series, treats the topic of designing transfer pricing systems. Since many multinational firms have subsidiaries in the U.S., it is worthwhile...
Persistent link: https://www.econbiz.de/10014940636
The market for mergers and takeovers, often referred to as the market for corporate control [Manne (1965)], has always attracted the attention of investors and researchers because takeovers represent corporate investment decisions on a scale several times larger than the normal, ongoing,...
Persistent link: https://www.econbiz.de/10014940705
The empirical evidence on mergers and takeovers indicates that positive gains due to mergers and takeovers ac‐crue almost entirely to the target firms. While average abnormal returns to target firms are invariably positive, returns to bidding firms are negative in case of mergers and not...
Persistent link: https://www.econbiz.de/10014940706
The number of mergers in the U.S.A. increased from 2,339 in 1983 to 3,701 in 1987—an increase of 58.23 per cent. Over the same time period the value of mergers increased from $51.89 billion to $167.48 billion—an increase of 323 per cent. Merger activities of this magnitude can be expected to...
Persistent link: https://www.econbiz.de/10014940708
Merger activities and stock market prices tend to vary over time. An interesting issue is whether changes in stock market prices stimulate changes in merger activities, or vice versa. The results of this study, based on the Granger test for causality, indicate very strong causality going from...
Persistent link: https://www.econbiz.de/10014940710