Infrastructure has played a major role in China's rapid development. Over the past decade the road network expanded by more than 40 percent, water production grew by more than 50 percent, and China has become the world's second largest energy producer. However, foreign direct investment in...

Sharing common inputs across business lines can potentially generate synergy that justifies related diversification. The pursuit of such synergy through diversification is, however, fundamentally driven by the indivisibility of inputs between firms. Following Penrose's insight, I argue that to...

We examine the effect of firm ownership status on three environmentally relevant variables: energy efficiency, toxic emissions and spending on pollution abatement. Prior research has demonstrated that public firms invest less than private firms and suggests this difference is due pressure from...

We examine the role of firm strategy in the global combat against pollution. We find that U.S. plants release less toxic emissions when their parent firm imports more from low-wage countries (LWCs). Consistent with the Pollution Haven Hypothesis, goods imported by U.S. firms from LWCs are in...