This paper is the first to investigate an alternative approach of privatization: privatizing only a subsidiary of a public firm. In a mixed duopoly model, instead of assuming that a public firm is privatized in its entirety by selling a portion of the firm's stocks to private investors (entirety...

State-owned and other state-invested enterprises (SIEs) have become more prominent in the global economy over the last decade. A growing role for state-invested enterprises in the marketplace is not in itself onerous. According to an OECD consensus, as expressed through the Organisation’s...

We consider a Hotelling model, in which a public firm competes with a foreign firm, at the mean time cooperates with it through subcontracting. We find that when there exists subcontracting, the presence of a foreign firm raises social welfare. Comparing to competing with the domestic private...

What is the relationship between foreign manufacturing multinational corporations (MNCs) and the expansion of indigenous technological and managerial technological capabilities among Chinese firms? China has been remarkably successful in designing industrial policies, joint venture requirements,...

Cuba and Venezuela have pioneered a new form of socialist multinational enterprise. Grounded in the concepto grannacional these proyectos and empresas grannacionales provide a way for states to engage in globalization directly using forms distinct from the traditional model of state owned...

In a deregulatory environment, what do regulated firms do? The standard assumption is simple: firms revert to their preregulatory form. This Essay challenges that basic assumption. Increasingly, regulation is conducted through broad standards foisted on firms to implement internally. Congress...

This article evaluates whether the changing presence of foreign firms in India's corporate sector has had an impact on the long-run economic performance of India's industrial sector. The patterns of corporate demography, including the role of foreign firms, in India over the last five decades,...

As barriers to globalization have steadily diminished, the number of entrepreneurial and noncommercial expatriates have grown from a trickle to a torrent. Much of what we know about expatriatism may not apply to this new breed of expatriates. A four-quadrant typology of expatriates draws...

Global regulations, such as social and environmental standards, often result from project-based multi-stakeholder initiatives. Many initiatives fail because key stakeholders cannot be mobilized, or partners are incapable of establishing common ground. We show that local development projects...

This paper investigates whether the size of multinationals’ real investments ina high-tax country is affected by profit shifting activities. A simple theoretical analysisshows that tax rates abroad impact the cost of capital in the presence of profit shiftingactivities of multinational...