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assume that investors face costs of control that vary among sectors and increase in distance. The results show that (i … distance may have a non-monotonous effect on the likelihood of horizontal investments, and (iii) that globalization, if … understood as reducing distance, leads to more integration. …
Persistent link: https://www.econbiz.de/10010366525
assume that investors face costs of control that vary among sectors and increase in distance. The results show that (i … distance may have a non-monotonous effect on the likelihood of horizontal investments, and (iii) that globalization, if … understood as reducing distance, leads to more integration. …
Persistent link: https://www.econbiz.de/10003368141
Seminal theories of the firm posit that firm ownership is allocated to minimize contractual inefficiencies. Yet, it remains unclear how much the optimal ownership choice affects firm performance in practice. This paper provides a first quantification of the gains from optimal ownership within...
Persistent link: https://www.econbiz.de/10014312548
Seminal theories of the firm posit that firm ownership is allocated to minimize contractual inefficiencies. Yet, it remains unclear how much the optimal ownership choice affects firm performance in practice. This paper provides a first quantification of the gains from optimal ownership within...
Persistent link: https://www.econbiz.de/10014346399
I analyse firms organisational choices when they face uncertainty about institutional conditions in foreign locations with heterogeneous final good producers and incomplete contracts. As firms learn about the conditions abroad, the increasing offshoring activity increases competition in the...
Persistent link: https://www.econbiz.de/10013332242
ownership in EU/OECD host countries and also when the home-host relative corruption distance is small. …
Persistent link: https://www.econbiz.de/10010195528
This paper studies international joint ventures, where foreign direct investment is performed by a foreign and a domestic firm that together set up a new firm, the joint venture. Employing administrative data on all international joint ventures in China from 1998 to 2007 - roughly a quarter of...
Persistent link: https://www.econbiz.de/10011855593
We develop a theory of a firm in an incomplete contracts environment which decides on the complexity, the organization, and the global scale of its production process. Specifically, the firm decides i) how many intermediate inputs are simultaneously combined to a final product, ii) if the...
Persistent link: https://www.econbiz.de/10010213481
The decisions of foreign investors on technical cooperation versus equity engagements and on the degree of ownership in FDI projects are likely to depend on their relative bargaining position vis-à-vis the host country. India provides an interesting case for analyzing the interplay between...
Persistent link: https://www.econbiz.de/10009152778
The decisions of foreign investors on technical cooperation versus equity engagements and on the degree of ownership in FDI projects are likely to depend on their relative bargaining position vis-à-vis the host country. India provides an interesting case for analyzing the interplay between...
Persistent link: https://www.econbiz.de/10010348624