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The innovation activities of foreign subsidiaries have been identified as an important source of competitive advantage for multinational corporations. The success of these engagements depends heavily on tapping host country pools of localized expertise. To achieve this foreign subsidiaries have...
Persistent link: https://www.econbiz.de/10003319681
Entering host country networks of knowledge flows (new competencies, innovative technologies, and lead-market knowledge) is a major rationale of multinational firms for investing abroad. Foreign firms find it difficult to overcome cultural and social barriers which make their foreign engagements...
Persistent link: https://www.econbiz.de/10003273110
This paper examines return predictability when the investor is uncertain about the right state variables. A novel feature of the model averaging approach used in this paper is to account for finite-sample bias of the coefficients in the predictive regressions. Drawing on an extensive...
Persistent link: https://www.econbiz.de/10003728591
We estimate peer effects for fourth graders in six European countries. The identification relies on variation across classes within schools. We argue that classes within primary schools are formed roughly randomly with respect to family background. Similar to previous studies, we find sizeable...
Persistent link: https://www.econbiz.de/10003314712
This paper studies the impact of process and product innovations introduced by firms on employment growth in these firms. A simple model that relates employment growth to process innovations and to the growth of sales separately due to innovative and unchanged products is developed and estimated...
Persistent link: https://www.econbiz.de/10003793866
This article considers cognitive distance and combined competence as predictors of concrete outcomes in co-operative Research and Development projects. The operationalisation is based upon a dedicated survey, answered by matched pairs of projects managers in partnering organisations, addressing...
Persistent link: https://www.econbiz.de/10003902965
This paper presents and compares several time-series models for returns of broadbased stock indices. These models nest a nonlinear asymmetric GARCH (NGARCH) model as a special case. Some of these models are empirically motivated ad-hoc specifications others are derived from a representative...
Persistent link: https://www.econbiz.de/10003670896
This paper analyzes the role of Thin-Capitalization rules for capital structure choice and investment decisions of multinationals. A theoretical analysis shows that the imposition of such rules tends to affect not only the leverage and the level of investment but also their tax-sensitivity. An...
Persistent link: https://www.econbiz.de/10003380555
The deductibility of interest expenses from the corporate tax base creates an incentive for acquiring companies to finance a takeover with debt. In this paper, I investigate the impact of profit taxation on the financing decision in corporate acquisitions for the first time for a sample of...
Persistent link: https://www.econbiz.de/10010258801
Kapitalgesellschaften am stärksten belastet. Bezieht man die Gesellschafter mit ein, so ist die Belastung in Frankreich am höchsten. Die … schweizerischen auszugleichen. Dagegen wäre mit Umsetzung der Vorschläge zur "Großen Steuerreform 1999" in Deutschland eine derartige … geringsten wäre, wodurch der Standort Deutschland erheblich an Attraktivität gewinnen würde. Die Erhöhung der Körperschaftsteuer …
Persistent link: https://www.econbiz.de/10011440930