Firms that export or, even more so, are part of a multinational enterprise tend to exhibit higher productivity than their purely domestic counterparts. To better understand this correlation, we incorporate the perspective of industrial organization that one of the main drivers of differences in...

In this paper, we develop a simple model of international outsourcing and apply it to processing trade in China. We observe China's processing exports broken down by who owns the plant and by who controls the inputs the plant processes. Multinational firms engaged in export processing in China...

Most countries in the world are not at the technological frontier, yet their economies grow and fluctuate. This paper sets up a quantitative model of endogenous growth with business cycle fluctuations to analyze the medium frequency fluctuations in non-frontier countries. The growth mechanism is...

Cross-border insolvency can often be impeded by the lack of legal coordination between jurisdictions, both in terms of differences in insolvency systems and in other more fundamental differences in legal approach to regulation generally. The European Insolvency Regulation (“EIR”) is one...

This paper seeks to expand our understanding of Corporate Political Activity (CPA) in trade policy by exploring the strategic responses of EU trade dependent firms (TDFs) to the recent backlash against globalization. We develop propositions on likely corporate strategies in this context and...

Accounting research on tax has primarily focused on documenting the income shifting strategies of multinational corporations. However, no studies, as far as we are aware, have hitherto explored how large accountancy firms manage their own tax affairs despite being huge economic entities in their...

This paper investigates the equity market reactions to the publication of the OECD BEPS Action Plan. We examine abnormal stock returns for firms incorporated and traded on the stock market in 36 OECD member states for various event dates during the developmental phase of the OECD BEPS Action...

Network connections within MNCs seem to improve export market shares for Asian affiliates of those MNCs. In particular, Asian affiliates of U.S. MNCs export more to markets where their parent firms' exports to affiliates are larger, and less to markets where their parent firms export more to...

This paper examines the question of whether less-developed countries' (LDCs') experiences with foreign direct investment (FDI) systematically different from those of developed countries (DCs). We do this by examining three types of empirical FDI studies that typically do not distinguish between...

We show that the 2016 Brexit Referendum had multi-faceted consequences for corporate America, shaping employment, investment, divestitures, R&D, and savings. The unexpected vote outcome led US firms to cut jobs and investment within US borders. Using establishment-level data, we document that...