The paper examines the development of financial performance of Czech subsidiaries under the control of EU-listed companies during the period 2009-2014. Summary statistics of individual corporate data indicate that both the domicile of the parent and the industry affiliation of the subsidiary...

Principal-agent problems between corporate parent and subsidiary operations are frequently exacerbated in international settings by exchange rate fluctuations between the foreign subsidiary's local currency and the parent multinational corporation's reference currency. We develop a conceptual...

U.S. corporations hold significant amounts of cash on their balance sheets, and these cash holdings have been justified in the existing empirical literature by transaction costs and precautionary motives. An additional explanation, considered in this study, is that U.S. multinational firms hold...