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others serve foreign markets through exports and/or FDI. When overseas production offers no cost advantages, our model … reverse this prediction. Data for 1070 large Japanese firms reveal that firms that invest abroad and export are more … productive than firms that just export. Among overseas investors, more productive firms span a wider range of host-country income …
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This paper examines the relationship between firm internationalization and cost of equity. We find that firms with a higher degree of international operations have a significantly lower cost of equity, which is more pronounced for firms in provinces with a weak institutional environment or firms...
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