Showing 1 - 10 of 11,858
This paper examines the propensity of firms to comove in investment decisions. Although stock return comovement and … herding among investors received considerable attention in existing work, little is known about correlated investment behavior … firms imitate other firms and rely on public information rather than on firm specific private information about investment …
Persistent link: https://www.econbiz.de/10014223894
Over the period 1980-2007 multinational firms' investment grew four times faster than worldwide GDP. Yet the evidence … multinational firms' investment and global diversification have significantly increased over the past three decades …
Persistent link: https://www.econbiz.de/10013114610
This paper presents evidence that subsidiaries of multinational firms have higher valuations than locally matched firms. Using a unique sample of 251 UK multinational firms and 4,676 subsidiaries, the paper finds that multinational firms achieve, on average, an international diversification...
Persistent link: https://www.econbiz.de/10013116775
Using a sample of control cross-border acquisitions from 61 countries from 1990 to 2007, we find that acquirers from countries with better governance gain more from such acquisitions and their gains are higher when targets are from countries with worse governance. Other acquirer country...
Persistent link: https://www.econbiz.de/10013131906
Persistent link: https://www.econbiz.de/10014429808
The relationship between investment efficiency and investment transparency is investigated using a sample of Australian … investment efficiency may influence the informativeness of investment disclosures, and present evidence that investment … achieve higher profitability and cash flow from operations surrounding the investment announcements, and that high sales …
Persistent link: https://www.econbiz.de/10012951609
We find that motivated monitoring by institutional investors mitigates firm investment inefficiency, estimated by … type. We also show that closer monitoring mitigates the problem of both over-investing free cash flows and under-investment …
Persistent link: https://www.econbiz.de/10012899694
This paper explores whether national culture explains the deviation from the optimal investment, as measured by under …- and over-investment compared to the optimal investment level, and the impact of this deviation across cultural dimensions … that assertiveness and gender egalitarianism lead to a greater deviation from the optimal investment whereas institutional …
Persistent link: https://www.econbiz.de/10013219747
show that export firms with more concentrated destinations are less responsive to investment opportunities and behave more … of understanding the global supply chain when studying investment decisions …
Persistent link: https://www.econbiz.de/10014238964
Persistent link: https://www.econbiz.de/10013123127