We propose that multinational firms learn about their profitability in a particular market by observing their performance in nearby markets. We first develop a model of firm expectations formation with noisy signals from multiple markets and derive predictions on expectations formation and...

We propose that multinational firms learn about their profitability in a particular market by observing their performance in nearby markets. We first develop a model of firm expectations formation with noisy signals from multiple markets and derive predictions on expectations formation and...

Rapid developments in information and communications technology, especially with regard to Internet, have caused a substantial impact on the delivery and dissemination of business information. Internet reporting is expected to bring significant benefits to reporting companies, including...