Liberal and critical theorists alike claim that the world political economy is becoming globalized. If they are right, leading corporations should gradually be losing their national characters and converging in their fundamental strategies and operations. Multinational corporations (MNCs) should...

This paper uses a discrete choice framework to analyze state design and firm choice of the implications of incorporation: corporate governance laws, corporate taxes and court features. Firms --- differentiated by ownership, management, industry concentration, financial profile and unobservable...

This paper examines the effects of foreign indirect investment (FII), particularly focusing on exporting activities, on the stock market performances of Chinese firms, using data of 1,341 firms that went public on the Shanghai and Shenzhen Stock Exchanges from 2003 to 2015. We find that the...

We use a hand-collected data set of firm-level foreign direct investment in China to examine the impact of home countries' institutional elements on the investment co-movement between foreign and domestic firms. We find that foreign firms from countries with well-developed financial markets or a...

In this paper, we develop and test the hypothesis that tax repatriation costs increase the uncertainty embedded in cash holdings. The intuition behind our empirical prediction relies on the notion that tax repatriation costs are a strong indication that part of the cash is not available to...

We examine whether an anticipated reduction in future repatriation taxes affects the amount of cash U.S. multinationals hold overseas. We find that the expected benefits of a repatriation tax reduction are positively associated with accelerated accumulations of global cash holdings once Congress...

This article tells how a shareholder class action against Teva Pharmaceutical Industries, the largest generic drug maker in the world, ended the practice of hiding individual executive pay figures by companies crosslisted in Israel and the United States. That practice relied on a tenuous reading...

A comparative study of Corporate Governance structures at two organizations situated across the Atlantic Ocean has been conducted to understand the rationale for the observed differences from an international versus a nationally focused business perspective. A research based recommendation for...

This paper estimates the implied cost of equity for Canadian and U.S. firms using a methodology based on the dividend discount model and utilizing firms' current stock price and analysts' forecasted earnings. We find that firm size and firm stock liquidity are negatively related to cost of...