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Japanese firms that were acquired by foreign firms improves after the acquisition. In our previous study for the Japanese …) and profit rates than M&As by domestic firms. However, it may argued that firms acquired by foreign firms showed better … performance simply because foreign investors acquired more promising Japanese firms than Japanese investors did. In order to …
Persistent link: https://www.econbiz.de/10012466243
Starting in the late 1990s, China undertook a dramatic transformation of the large number of firms under state control. Small state-owned firms were privatized or closed. Large state-owned firms were corporatized and merged into large industrial groups under the control of the Chinese state. The...
Persistent link: https://www.econbiz.de/10012457662
We use administrative registration records with information on the owners of all Chinese firms to document the importance of "connected" investors, defined as state-owned firms or private owners with equity ties with state-owned firms, in the businesses of private owners. We document a hierarchy...
Persistent link: https://www.econbiz.de/10012482389
We estimate and attempt to explain the evolution of the taxes paid by U.S. multinationals on their foreign profits … after-tax returns. Foreign taxes fell abruptly after the first Gulf War. In sectors other than oil, the effective foreign … havens. The low foreign taxes paid by U.S. multinationals can explain half of the U.S. cross-border return differential …
Persistent link: https://www.econbiz.de/10012480636
The U.S. Bureau of Economic Analysis (BEA) estimates the return on investments of foreign subsidiaries of U ….S. multinational companies over the period 1982--2006 averaged 9.4 percent annually after taxes; U.S. subsidiaries of foreign … foreign and domestic locations. Used abroad, it generates profits for foreign subsidiaries with no foreign direct investment …
Persistent link: https://www.econbiz.de/10012464663
We quantify foreign direct investment (FDI) spillovers by comparing changes in total factor productivity (TFP) among … domestic plants in districts that attracted a large greenfield foreign plant and districts where greenfield FDI was licensed … greenfield foreign plant. Over the four years starting with the year of the opening, TFP of domestic plants is 8% higher in …
Persistent link: https://www.econbiz.de/10012453253
This paper studies international joint ventures, where foreign direct investment is performed by a foreign and a … Chinese firms chosen to be partners of foreign investors tend to be larger, more productive, and more likely subsidized than … larger if the foreign firm is from the U.S. rather than from Japan or Hong Kong, Macau, and Taiwan, while this effect is …
Persistent link: https://www.econbiz.de/10012453259
In this paper, we estimate the impact of increasing costs on foreign producers following a withdrawal of the United …. First, we assume that the United Kingdom unilaterally imposes tighter restrictions on foreign direct investment (FDI) from … fall in foreign investment and production by U.K. firms. The United Kingdom increases international lending, which finances …
Persistent link: https://www.econbiz.de/10012455464
data from 1989-2009. We compute the number of employees of foreign establishments in each of Vietnam's provinces for each … for households there if they do not have a member employed by the foreign enterprises, with only modest gains for … households who do have a member employed by the foreign enterprises. These estimates may reflect composition effects, however …
Persistent link: https://www.econbiz.de/10012455750
Despite the recent rapid development and greater openness of China's economy, FDI flows between China and technologically advanced countries are relatively small in both directions. We assess global capital flows in light of China's quid pro quo policy of exchanging market access for transfers...
Persistent link: https://www.econbiz.de/10012459412