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Eliminating the Pass-Through : Towards FDI Statistics that Better Capture the Financial and Economic Linkages between Countries
Borga, Maria - 2018
FDI plays a central role in managing global production networks, but FDI statistics also reflect other factors, including tax avoidance, that make it difficult to differentiate between FDI for “long-term” investments that serves as a source of growth and FDI that is purely financial and has...
Persistent link: https://www.econbiz.de/10012911079
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Surviving the Global Financial Crisis : Foreign Ownership and Establishment Performance
Alfaro, Laura - 2011
We examine the differential response of establishments to the recent global financial crisis with particular emphasis on the role of foreign ownership. Using a worldwide establishment panel dataset, we investigate how multinational subsidiaries around the world responded to the crisis relative...
Persistent link: https://www.econbiz.de/10013123691
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Cross-Border Acquisitions and Target Firms' Performance : Evidence from Japanese Firm-Level Data
Fukao, Kyoji - 2010
Using Japanese firm-level data for the period from 1994-2002, this paper examines whether a firm is chosen as an acquisition target based on its productivity level, profitability and other characteristics and whether the performance of Japanese firms that were acquired by foreign firms improves...
Persistent link: https://www.econbiz.de/10012760742
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Foreign Owners and Plant Survival
Bernard, Andrew B.; Sjoholm, Fredrik - 2021
In recent years, international capital flows of all types have increased dramatically and most governments have been actively encouraging inflows of direct investment. However, concerns remain that reliance on foreign multinationals may be a risky development strategy as foreign firms are likely...
Persistent link: https://www.econbiz.de/10013224697
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Foreign Ownership and Firm Performance : Emerging-Market Acquisitions in the United States
Chari, Anusha; Chen, Wenjie; Dominguez, Kathryn M.E - 2021
This paper examines the recent upsurge in foreign acquisitions of U.S. firms, specifically focusing on acquisitions made by firms located in emerging markets. Neoclassical theory predicts that, on net, capital should flow from countries that are capital-abundant to countries that are...
Persistent link: https://www.econbiz.de/10013226196
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Resource Misallocation in European Firms : The Role of Constraints, Firm Characteristics and Managerial Decisions
Gorodnichenko, Yuriy - 2018
Using a new survey, we document high dispersion of marginal revenue products across firms in the European Union (EU). To interpret this dispersion, we develop a highly portable framework to quantify gains from better allocation of resources. We demonstrate that, apart from direct measures of...
Persistent link: https://www.econbiz.de/10012923711
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Global Production with Export Platforms
Tintelnot, Felix - 2016
Most international commerce is carried out by multinational firms, which use their foreign affiliates both to serve the market of the host country and to export to other markets outside the host country. In this paper, I examine the determinants of multinational firms' location and production...
Persistent link: https://www.econbiz.de/10012992631
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Chains of Ownership, Regional Tax Competition, and Foreign Direct Investment
Desai, Mihir A.; Foley, C. Fritz; Hines Jr., James R. - 2021
parent company and level of FDI. Tax effects are particularly strong within Europe, where ten percent higher tax rates are …
Persistent link: https://www.econbiz.de/10013239947
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Corporate Acquisitions, Diversification, and the Firm's Lifecycle
Arikan, Asli M. - 2011
Lifecycle theories of mergers and diversification predict that firms make acquisitions and diversify when their …
Persistent link: https://www.econbiz.de/10013119963
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Tobin's Q, Corporate Diversification and Firm Performance
Lang, Larry H.P. - 2002
In this paper, we show that Tobin's q and firm diversification are negatively related. This negative relation holds for … different diversification measures and when we control for other known determinants of q. We show further that diversified firms … number of segment constant. Our evidence is consistent with the view that firms seek growth through diversification when they …
Persistent link: https://www.econbiz.de/10012787492