Showing 1 - 7 of 7
This paper develops a novel theory of capital mis-allocation within firms that stems from managers’ empire building and informational frictions within the organization. Introducing an internal capital market into a two-factor model of multi-segment firms, we show that international competition...
Persistent link: https://www.econbiz.de/10012799726
What determines whether or not multinational firms transplant the mode of organisation to other countries? We embed the theory of knowledge hierarchies in an industry equilibrium model of monopolistic competition to examine how the economic environment may affect the decision of multinational...
Persistent link: https://www.econbiz.de/10012141112
guide our theoretical analysis. We propose a model of global sourcing and international trade in which heterogeneous NGOs … campaigns are determined by a triadic gravity equation, i.e. bilateral trade costs between the country of the NGO, the country … internationalization of production, falling trade costs boost the internationalization of NGO campaigns. We use our data to estimate the …
Persistent link: https://www.econbiz.de/10012582131
What determines whether or not multinational firms transplant the mode of organisation to other countries? We embed the theory of knowledge hierarchies in an industry equilibrium model of monopolistic competition to examine how the economic environment may affect the decision of multinational...
Persistent link: https://www.econbiz.de/10012860290
This paper develops a novel theory of capital mis-allocation within firms that stems from managers’ empire building and informational frictions within the organization. Introducing an internal capital market into a two-factor model of multi-segment firms, we show that international competition...
Persistent link: https://www.econbiz.de/10013312862
guide our theoretical analysis. We propose a model of global sourcing and international trade in which heterogeneous NGOs … campaigns are determined by a triadic gravity equation, i.e. bilateral trade costs between the country of the NGO, the country … internationalization of production, falling trade costs boost the internationalization of NGO campaigns. We use our data to estimate the …
Persistent link: https://www.econbiz.de/10013228853
puzzles of exchange rates: excessive volatility, fat tails, volatility clustering, and disconnection from the fundamentals. In … addition, the target zone regime replicates a reduced nominal volatility for the same level of fundamental volatility as in the …
Persistent link: https://www.econbiz.de/10010264194