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Why did Victorian Britain invest so much capital abroad? We collect over 500,000 monthly returns of British and foreign securities trading in London and the United States between 1866 and 1907. These heretofore-unknown data allow us to better quantify the historical benefits of international...
Persistent link: https://www.econbiz.de/10013159054
This paper investigates the role of corporate taxation with respect to a multinational's investment decision, in which the multinational can pursue either a direct or an indirect investment strategy. The latter involves at least three corporate entities and opens up enhanced opportunities for...
Persistent link: https://www.econbiz.de/10003794353
We show in a dynamic investment setting whether firms choose FDI or international portfolio investment (FPI) in the … presence of stochastic productivity taking into account differences in flexibility of both investments. Isolated FPI and FDI … investments are compared to combined FPI and FDI investments. FDI requires higher investment specific costs than FPI. Thus, it is …
Persistent link: https://www.econbiz.de/10003865729
foreign portfolio investment (FPI) and foreign direct investment (FDI) flows equally? In other words, does distance change the … composition of capital flows? This is the specific question that this paper focuses on, differentiating between total FDI, FDI via …
Persistent link: https://www.econbiz.de/10013127929
(FDI): When investors make FDI, due to their control and monitoring as insiders, they obtain the information about the … extent to which FDI predicts the returns of foreign portfolio investment (FPI) as the informativeness of FDI. My model … suggests that FPI is more sensitive to FDI if FDI has a higher degree of informativeness, i.e., if FDI provides more …
Persistent link: https://www.econbiz.de/10013113267
hinder both foreign portfolio investment (FPI) and foreign direct investment (FDI) flows equally? In other words, does … between total FDI, FDI via mergers and acquisitions (M&As) and FPI …
Persistent link: https://www.econbiz.de/10013119446
direct investment (FDI) from these economies is rising faster than their economic growth, trade, and inward FDI, and the … outward FDI are generally consistent with the international investment literature. But in addition particular factors are at … challenge for the rest of the world is to accommodate these FDI flows, as part of the global reorientation of economic activity …
Persistent link: https://www.econbiz.de/10013121495
develop a model that distinguishes foreign direct investment (FDI) in new projects from portfolio equity. The model suggests … that assets and liabilities should be more closely correlated in portfolio equity than in FDI …
Persistent link: https://www.econbiz.de/10013154331
Global firms finance themselves through foreign subsidiaries, often shell companies in tax havens, which obscures their nationality in aggregate statistics. We associate the universe of traded securities with their issuer's ultimate parent and restate bilateral investment positions to better...
Persistent link: https://www.econbiz.de/10012843191
In January–September 2013, as compared to the respective period of the previous year foreign investments into Russian economy rose by 15.7% which is justified by growth in direct investments and other investments carried out on a recurrent basis. The shares of the above investments in the...
Persistent link: https://www.econbiz.de/10013059879