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combine R&D investments with patent data of the world top R&D investors worldwide and show that investment per patent varies …&D investments to assess how these are related to the international and technological strategies of firms. The estimation strategy …
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We document a broad-based trend in rising cash holdings of firms across major industrialized countries over the last two decades, a trend that is most pronounced for firms engaged strongly in R and D activities. Our contributions to the literature are twofold. First, we develop a simple model...
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La Porta, Lopez-de-Silanes, Shleifer and Vishny's (LLSV) purported demonstration in Law and Finance (1998) of a correlation between the legal origins of a country and its stock market development and ownership dispersion, mediated through the protection of minority shareholders as against...
Persistent link: https://www.econbiz.de/10013149793
We examine the role of a country's institutional framework for investment and financing activities. A country … flow and firms' investment and financing behavior. Firms from countries with a more developed institutional framework … issues. Conversely, firms' investment-cash flow sensitivity is higher in countries with a less developed institutional …
Persistent link: https://www.econbiz.de/10012950312
broadly accepted that corporations - particularly the world's largest publicly traded corporations – need to be governed with … Modern Corporation Project at Cass Business School, launched the Corporate Governance for a Changing World Roundtable Series … together more than 260 leaders in business management, investment, regulation and academic and civil society communities with …
Persistent link: https://www.econbiz.de/10012987369
This paper studies whether family businesses (FBs) differ from non-family businesses (non-FBs) in various dimensions of globalization with a representative sample of businesses in Finnish manufacturing and private services. FBs and non-FBs are not so different when it comes to export and...
Persistent link: https://www.econbiz.de/10012730243
We study how a firm's global connectedness through global supply chains and exports affects its stock market performance during crises. While global connectedness can expose firms to negative foreign shocks, it potentially reduces firms' susceptibility to domestic shocks by allowing...
Persistent link: https://www.econbiz.de/10014255333
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