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The Offshoring Return Premium
Hoberg, Gerard - 2017
We use 10-K filings to construct novel text-based measures of the extent to which U.S. firms are exposed to three offshore activities: the sale of output, purchase of input, and ownership of producing assets. Our main result is that selling output abroad is associated with higher stock returns,...
Persistent link: https://www.econbiz.de/10012973635
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Global Engagement and Returns Volatility
Girma, Sourafel - 2016
economic uncertainty …
Persistent link: https://www.econbiz.de/10013000911
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The offshoring return premium
Hoberg, Gerard; Moon, S. Katie - In: Management science : journal of the Institute for … 65 (2019) 6, pp. 2876-2899
Persistent link: https://www.econbiz.de/10012039875
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Corporate acquisitions and firm-level uncertainty : domestic versus cross-border deals
Bai, Ye; Girma, Sourafel; Riaño, Alejandro - 2020
This paper studies the impact of corporate acquisitions - both domestic and cross-border - on the uncertainty faced by …-level uncertainty is characterized by a pecking order: the announcement of a domestic takeover leads to a reduction in the uncertainty … - engender a positive response in acquirers' volatility. Our results suggest that acquisitions affect uncertainty because they …
Persistent link: https://www.econbiz.de/10012158166
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Risks and Returns in Crowdlending
Adhami, Saman - 2019
Crowdlending has emerged in recent years as an innovative way to finance new ventures and small companies. However, digitalized funding is a new technology itself; therefore, it is prone to mispricing and inefficiencies. We investigate whether peer-to-peer crowdlending to businesses provides...
Persistent link: https://www.econbiz.de/10012891360
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Risk, Returns, and Multinational Production
Fillat, Jose L. - 2010
This paper starts by unveiling a new empirical regularity: multinational corporations tend to exhibit systematically higher returns and earnings yields than non-multinational firms. Within non-multinationals, exporters tend to have higher earnings yields and returns than firms selling only in...
Persistent link: https://www.econbiz.de/10013146784
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Trade linkages and firm value : evidence from the 2018 US-China trade war
Huang, Yi; Chen, Lin; Liu, Sibo; Tang, Heiwai - 2018 - This version: August 7, 2018
On March 22, 2018, Trump proposed to impose tariffs on up to $50 billion of Chinese imports leading to a significant concern over the "Trade War" between the US and China. We evaluate the market responses to this event for firms in both countries, depending on their direct and indirect exposures...
Persistent link: https://www.econbiz.de/10011927558
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Trade linkages and firm value : evidence from the 2018 US-China "trade war"
Huang, Yi; Chen, Lin; Liu, Sibo; Tang, Heiwai - 2018 - This version: August 7, 2018
Persistent link: https://www.econbiz.de/10011901133
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Long-Term Returns in Distressed Sovereign Bond Markets : How Did Investors Fare?
Andritzky, Jochen R. - 2019
Sovereign debt restructurings are perceived as inflicting large losses to bondholders.However, many bonds feature high coupons and often exhibit strong post-crisis recoveries. To account for these aspects, we analyze the long-term returns of sovereign bonds during 32 crises since 1998, taking...
Persistent link: https://www.econbiz.de/10012865834
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The Study of Nonlinear Correlation between Shanghai, Hongkong and American Stock Returns — An Empirical Analysis Based on MS-VAR Model and MS-DCC-MVGARCH Model
Zhou, Decai - 2014
Considering the mean and the volatility correlation of Chinese and foreign stock market may undergo structural changes because of the reform and opening-up, the paper attempts to incorporate Markov state transition mechanism(MS) into both the VAR model and DCC-MVGARCH model at the same time....
Persistent link: https://www.econbiz.de/10013061426