Using multifractal detrended cross-correlation analysis (MF-DCCA), this paper studies cross-correlations between Chinese Renminbi (RMB) onshore and offshore markets. The dataset consists of 2,137 closing daily prices of exchange rates from 1 January 2005 to 9 July 2013, which covers seven major...

Many U.S. corporations operate internationally. For instance, S&P 500 firms generate approximately 29 percent of their sales in foreign markets (Brzenk 2018). Multinational corporations (MNCs) rely on information about their operations to allocate resources. This information is dispersed within...

Using the adoption of SFAS 131 as a shock to segment reporting and a sample of firms that lobbied against the new standard on the grounds of proprietary costs, I test for changes in profitability around SFAS 131 to examine whether reporting mandates affect disclosing firms' competitive position....

Business groups, which are ubiquitous in emerging market economies, balance the advantages of characteristics such as internal capital markets with the disadvantages such as inefficient internal distribution of resources and suppression of technological and other forms of innovativeness. In this...