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We study how foreign competition affects the composition of investments inside firms. A parsimonious model predicts that firms have an incentive to shift their investments towards more short-term assets when exposed to tougher competition. Using data on expenditures of listed US companies into...
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Two jurisdictions compete to attract shares of the R&D investment budget of a large multinational enterprise, whose …
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Two jurisdictions compete to attract shares of the R&D investment budget of a large multinational enterprise, whose …
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