This paper examines the relationship between firm internationalization and cost of equity. We find that firms with a higher degree of international operations have a significantly lower cost of equity, which is more pronounced for firms in provinces with a weak institutional environment or firms...

The import competition literature suggests that Chinese industrial policies and technological trends have altered the nature of competition with China so that it does not take place on a level playing field anymore. Empirical evidence about firms' reactions in developed economies to competition...