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Do Foreigners Invest Less in Poorly Governed Firms?
Leuz, Christian - 2006
As domestic sources of outside finance are limited in many countries around the world, it is important to understand the factors that influence whether foreign outside investors provide capital to a country's firms. This study examines whether and why investor concern about corporate governance...
Persistent link: https://www.econbiz.de/10012466446
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History, Gravity and International Finance
Chițu, Livia - 2013
We analyze patterns of bilateral financial investment using data on US investors' holdings of foreign bonds. We document a "history effect" in which the pattern of holdings seven decades ago continues to influence holdings today. 10 to 15% of the cross-country variation in US investors' foreign...
Persistent link: https://www.econbiz.de/10012459968
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Preferred Habitats and Timing in the World's Safe Asset
Tabova, Alexandra M.; Warnock, Francis E. - National Bureau of Economic Research - 2022
Investors' behavior in U.S. Treasuries - the world's safe asset - affects monetary policy transmission mechanisms, fiscal policy space, loan pricing, and international vulnerabilities. Yet it is not well understood for a simple reason: researchers, not having a clear picture of the Treasury...
Persistent link: https://www.econbiz.de/10013477214
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The Effects of U.S. Monetary Policy on Emerging Market Economies' Sovereign and Corporate Bond Markets
Burger, John D. - 2017
We analyze the effect of the US Federal Reserve's monetary policy on EME sovereign and corporate bond markets by focusing on two dimensions: the evolution of the structure (size and currency composition) of the bond markets and their allocations within the bond portfolios of US investors. Global...
Persistent link: https://www.econbiz.de/10012455054
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What Makes US Government Bonds Safe Assets?
He, Zhiguo - 2016
US government bonds are widely considered to be the world's safe store of value. US government bonds are a large fraction of safe asset portfolios, such as the porfolios of many central banks. The world demand for safe assets leads to low yields on US Treasury bonds. During periods of economic...
Persistent link: https://www.econbiz.de/10012456656
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The Rest of the World's Dollar-Weighted Return on U.S. Treasurys
Jiang, Zhengyang; Krishnamurthy, Arvind; Lustig, Hanno - National Bureau of Economic Research - 2022
Since 1980, foreign investors have timed their purchases and sales of U.S. Treasurys to yield particularly low returns. Their annual dollar-weighted returns, measured by IRRs, are around 3% lower than a buy-and-hold strategy over the same horizon. In comparison, the IRRs achieved by domestic...
Persistent link: https://www.econbiz.de/10013210117
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Globalization and Profitability of US Firms : The Role of Intangibles
Chintha, Bullipe R.; Jagannathan, Ravi; Sridhar, Sri S. - National Bureau of Economic Research - 2024
China's admission into the WTO in 2001 heralded a new era of globalization, increasing both import competition in domestic markets and foreign opportunities for US firms. In the aggregate, the average annual profitability of US public firms during the post globalization period (2003-2019)...
Persistent link: https://www.econbiz.de/10014512056
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Foreign Direct Investment in a World of Multiple Taxes
Desai, Mihir A. - 2001
character of foreign direct investment by American multinational firms. Indirect tax burdens significantly exceed foreign income … to be partly attributable to the inability of American investors to claim foreign tax credits for indirect tax payments …. Estimates imply that 10 percent higher indirect tax rates are associated with 9.2 percent lower reported income of American …
Persistent link: https://www.econbiz.de/10012470279
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When Is U.S. Bank Lending to Emerging Markets Volatile?
Goldberg, Linda S. - 2001
explores the determinants of fluctuations in U.S. bank claims on a broad set of countries. U.S. bank claims on Latin American …
Persistent link: https://www.econbiz.de/10012470515
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The Effects of U.S. Tax Policy on the Income Repatriation Patterns of U.S. Multinational Corporations
Altshuler, Rosanne - 1991
U.S. corporations owe taxes to the U.S. Treasury on income earned both inside and outside American borders. This paper …
Persistent link: https://www.econbiz.de/10012475059