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Policy uncertainty and foreign direct investment : evidence from the China-Japan island dispute

Chen, Cheng; Senga, Tatsuro; Sun, Chang; Zhang, Hongyong - 2016

Can a temporary negative shock generate long-lasting effects on economic activities? To show causal evidence, we utilize data from Japanese multinational corporations (MNCs) and explore the economic impact of the unexpected escalation of an island dispute between China and Japan in 2012. Our...

Persistent link: https://www.econbiz.de/10011554377

The Proximity-Concentration Tradeoff Under Uncertainty

Ramondo, Natalia - 2011

This paper analyzes the firm's choice between serving a foreign market through exports or foreign affiliate sales in an environment characterized by country speci c shocks to the cost of production. Our model predicts that country pairs with less correlated output fluctuations trade more,...

Persistent link: https://www.econbiz.de/10013133331

Exports Versus Multinational Production Under Nominal Uncertainty

Lewis, Logan T. - 2011

This paper examines how nominal uncertainty affects the choice firms face to serve a foreign market through exports or … exports and multinational production are priced in the destination currency, and this uncertainty has no effect on the …

Persistent link: https://www.econbiz.de/10013117585

Political Risk and International Valuation

Bekaert, Geert - 2015

Measuring the impact of political risk on investment projects is one of the most vexing issues in international business. One popular approach is to assume that the sovereign yield spread captures political risk and to augment the project discount rate by this spread. We show that this approach...

Persistent link: https://www.econbiz.de/10013015661

Cross-border Investments and Uncertainty : Firm-level Evidence

Cezar, Rafael - 2020

This paper studies the impact of uncertainty on cross-border investments. We build a data set of firm-level outward … Foreign Direct Investments between 2000 and 2015. We create a time and country varying measure of uncertainty based on the … dispersion of idiosyncratic investment returns. An increase in uncertainty delays cross-border flows to the affected country. Yet …

Persistent link: https://www.econbiz.de/10012835485

Risk, Returns, and Multinational Production

Fillat, Jose L. - 2010

This paper starts by unveiling a new empirical regularity: multinational corporations tend to exhibit systematically higher returns and earnings yields than non-multinational firms. Within non-multinationals, exporters tend to have higher earnings yields and returns than firms selling only in...

Persistent link: https://www.econbiz.de/10013146784

Expropriation Risk and Technology

Opp, Marcus M. - 2011

This paper develops a unified framework to analyze the dynamics of firm investment in countries with poor legal enforcement. The firm's technology edge over the government generates endogenous property rights. Industry variation in the technology gap predicts a sectoral pecking order of...

Persistent link: https://www.econbiz.de/10014198720

Multinational firms' organisational dynamics : competition intensity and the ownership decision under uncertainty

Navarro, Leandro Gastón - 2021

I analyse firms organisational choices when they face uncertainty about institutional conditions in foreign locations …

Persistent link: https://www.econbiz.de/10013332242

Foreign Direct Investment, Exchange Rate Variability and Demand Uncertainty

Goldberg, Linda S.; Kolstad, Charles D. - C.V. Starr Center for Applied Economics, Department of … - 1994

Persistent link: https://www.econbiz.de/10005826734

Optimal degree of foreign ownership under uncertainty

Bircan, Cagatay - European Bank for Reconstruction and Development (EBRD) - 2014

multi-period model of foreign direct investment with incomplete contracts and uncertainty to analyse the size of equity …

Persistent link: https://www.econbiz.de/10010797496