This paper uses a unique natural experiment in Chinese villages to investigate whether access to telecommunications- in particular, landline phones-increases the likelihood of outmigration. By using regional and time variations in the installation of landline phones, the...

This study examines the spillover effects of home country institutional and cultural characteristics on the subsidiaries operating in France while they are in the process of making capital structure choices and debt maturity choices. We document that while subsidiaries financing choices are...

Manuscript Type: EmpiricalResearch Question/Issue: We examine determinants of cash holdings in Chinese subsidiaries of U.S. multinational corporations (MNCs), a setting where growth opportunities make cash holdings desirable for investment opportunities but also vulnerable to potential...