To resolve global political and scholarly concerns over conflict minerals (“CM”) produced in the Democratic Republic of the Congo and neighboring regions, two kinds of CM-related disclosure rules (or “CM rules”) come into play in regulating their use: government-mandated laws such as...

This paper examines the consequences of foreign tax holiday participation for U.S. economic activities. Chow, Hoopes, and Maydew (2020) present the first evidence of U.S. multinational companies’ (MNCs) participation in foreign tax holidays and find significant involvement in recent decades....

It is generally assumed that the performance of a company improves with greater multi-nationality and that there is a direct relationship between the two variables; however, there is a third critical strategic variable between multi-nationality and a firm’s performance: the strategic...

Banks play a critical role in facilitating international trade by guaranteeing international payments and thereby reducing the risk of trade transactions. This paper uses banking data from the United States to document new empirical patterns regarding the use of letters of credit and similar...

Intra-firm trade is an important component of United States' international trade with the rest of the world. The stylized facts about U.S. intra-firm trade reveal some interesting patterns. Intra-firm trade is increasing with newly developed countries particularly in Asia and Eastern Europe....

Using distance and time zone differences as a measure for coordination costs between service suppliers and consumers, we employ a Hausman-Taylor model for services trade by foreign affiliates. Given the need for proximity in the provision of services, factors like distance place a higher cost...

We apply a trilateral trade approach to examine how Japanese exports and investment to China, or seven other Asian economies, affect Chinese, or the seven Asian economies', exports to the US market. The results suggest that while Chinese and Japanese exports are directly competitive in US...

U.S. foreign trade has grown much more rapidly than GDP in recent decades. But there is no consensus as to why. More than half of U.S. foreign trade consists of arms-length and intra-firm trade activity by multinational corporations (MNCs). Thus, in order to better understand the growth of...

The business literature and recent descriptive evidence show that exporting firms typically require the help of foreign trade intermediaries or need to set up own foreign wholesale affiliates. In contrast, conventional trade theory models assume that producers can directly access foreign...