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This study is grounded on the internationalization theories of the firm and discusses how different strategic and operational choices in the international environment can affect firm performance and thus shareholders value. The latter is based on share prices reflecting long term expectations on...
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This paper studies the impact of corporate acquisitions - both domestic and cross-border - on the uncertainty faced by acquiring firms. We use data for UK publicly-listed firms from 2004 to 2017 and employ a matching estimator combined with difference-in-differences to control for the endogenous...
Persistent link: https://www.econbiz.de/10012158166
of the globalization premium documented by Barrot et al. (2019). We document that the globalization premium is positively … limits to arbitrage exhibit a joint effect on the globalization premium. Interestingly, displacement risk plays an … explanatory role only in the presence of limits to arbitrage. Furthermore, when globalization is measured at the firm level …
Persistent link: https://www.econbiz.de/10013322278
The taxation regime to which online multinational platforms are subject to has been the centre of a fierce debate in recent years. Whereas international consensus has yet to be reached, different countries have taken unilateral action by enacting versions of a "Digital Service Tax". We conduct a...
Persistent link: https://www.econbiz.de/10013293042
As a direct response to the recent trend in corporate expatriations, politicians have questioned the patriotism of firms that reorganize outside the U.S. and introduced numerous legislative proposals designed to prevent corporate expatriations. The implicit assumption made in proposing this...
Persistent link: https://www.econbiz.de/10014032795
We analyze exchange rates along with equity quotes for 3 German firms from New York (NYSE) and Frankfurt (XETRA) during overlapping trading hours to see where price discovery occurs and how stock prices adjust to an exchange rate shock. Findings include: (a) the exchange rate is exogenous with...
Persistent link: https://www.econbiz.de/10010316285
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This study aims to survey the effects of economic globalization on the firm's stock that is measured by the index of … effects must be applied. The results show that the economic globalization significantly improves stock market index. Moreover … the positive and significant effect on the firm's stock depend on political globalization and dummy variable, however the …
Persistent link: https://www.econbiz.de/10011307944