Many equity-linked life insurance products offer the possibility to surrender policies prematurely. Secondary markets for policies with surrender guarantees influence both policyholders and insurers. We show that insurers increase premiums to adjust for higher surrender rates of customers and...

This study examines whether and to what extent emerging-market multinational enterprises (EM MNEs) can use outward FDI in a developed market to capture knowledge spillovers so as to improve their technological capabilities at home. We refer to this as a “reverse spillover” effect on parent...

This study examines how the performance of cross-border venture capital investments is affected by national institutional and cultural distances between the environments of venture capitalists (VCs) and investee ventures. We propose that institutional and cultural distances will decrease VCs'...

We investigate the following important questions in international business: How do MNEs choose ownership strategies when facing strong uncertainty in foreign market entries? How are the choices affected by industry contingencies? Following the key tenets of real options theory, we propose that,...

A considerable fraction of college students and bachelor's degree recipients enroll in multiple postsecondary institutions. Despite this fact, there is scant research that examines the nature of the paths - both the number and types of institutions - that students take to obtain a bachelor's...

This study examines whether a host country's industry-specific technology advantage increases the propensity of emerging market multinational enterprises (EMNEs) to invest in the host country. The study further explores whether inward FDI in EMNEs' home markets, by generating knowledge...

In this paper, we build on a rational expectation model to study the economic consequences of a firm's choice of disclosure audience in a market with heterogenous traders in terms of information processing abilities. Through costly expertise acquisition, some traders become sophisticated and can...

The enforcement of social norms is considered as a main motivation for third-party intervention. We provide direct evidence for this theory in a cross-country experimental trust game with a sender, a receiver, and a third party who can punish or reward the receiver at own cost. As a novelty we...

Studying the interrelation of soil water and plant water is essential for an in-depth understanding of eco-hydrological processes. However, water use relationships and comparative studies between shrubs and alpine grassland of the Qinghai-Tibet Plateau remain poorly understand. In this study, we...