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Emerging Market Business Groups, Foreign Investors, and Corporate Governance

Khanna, Tarun - 2010

We examine the interaction between three kinds of concentrated owners commonly found in an emerging market: family …

Persistent link: https://www.econbiz.de/10012763811

Helpman, Elhanan; Melitz, Marc J.; Yeaple, Stephen R. - 2021

). Relative to investment in a subsidiary, exporting involves lower sunk costs but higher per-unit costs. In equilibrium, only the …

Persistent link: https://www.econbiz.de/10013232882

Expansion Strategies of U.S. Multinational Firms

Hanson, Gordon H.; Mataloni, Raymond J.; Slaughter, … - 2022

Recent theoretical work tends to characterize multinational enterprises as arising through either horizontal or vertical foreign direct investment (FDI). Empirical research tends to find stronger support for the former than for the latter. In this paper, we use recent, detailed data on U.S....

Persistent link: https://www.econbiz.de/10013292461

Foreign Owners and Plant Survival

Bernard, Andrew B.; Sjoholm, Fredrik - 2021

In recent years, international capital flows of all types have increased dramatically and most governments have been actively encouraging inflows of direct investment. However, concerns remain that reliance on foreign multinationals may be a risky development strategy as foreign firms are likely...

Persistent link: https://www.econbiz.de/10013224697

Foreign Ownership and Wages in the United States, 1987 - 1992

Feliciano, Zadia Maria; Lipsey, Robert E. - 2021

Foreign-owned establishments in the United States pay higher wages, on average, than domestically-owned establishments. Much of the difference is related to industry composition, but there are also differences within industries within states, 5-7 percent in manufacturing and 9-10 percent in...

Persistent link: https://www.econbiz.de/10013225395

Chains of Ownership, Regional Tax Competition, and Foreign Direct Investment

Desai, Mihir A.; Foley, C. Fritz; Hines, James R. - 2021

This paper considers the effect of taxation on the location of foreign direct investment (FDI) and taxable income reported by multinational firms with particular attention to the regional dynamics of tax competition and the role of chains of ownership. Confidential affiliate-level data are used...

Persistent link: https://www.econbiz.de/10013239947

Innovation and Foreign Ownership

Guadalupe, Maria - 2010

This paper uses a rich panel dataset of Spanish manufacturing firms (1990-2006) and a propensity score reweighting estimator to show that multinational firms acquire the most productive domestic firms, which, on acquisition, conduct more product and process innovation (simultaneously adopting...

Persistent link: https://www.econbiz.de/10013135408

Corruption and Composition of Foreign Direct Investment : Firm-Level Evidence

Javorcik, Beata K. Smarzynska; Wei, Shang-jin - 2022

This paper studies the impact of corruption in a host country on foreign investor's preference for a joint venture versus a wholly-owned subsidiary. There is a basic trade-off in using local partners. On the one hand, corruption makes local bureaucracy less transparent and increases the value of...

Persistent link: https://www.econbiz.de/10013324455

Cross-Border Acquisitions and Target Firms' Performance : Evidence from Japanese Firm-Level Data

Fukao, Kyōji - 2010

Using Japanese firm-level data for the period from 1994-2002, this paper examines whether a firm is chosen as an acquisition target based on its productivity level, profitability and other characteristics and whether the performance of Japanese firms that were acquired by foreign firms improves...

Persistent link: https://www.econbiz.de/10012760742

The Structure and Formation of Business Groups : Evidence from Korean Chaebols

Almeida, Heitor; Park, Sang-yong; Subrahmanyam, Marti G.; … - 2021

, pyramidally) as the family uses well-established group firms ("central firms") to set up and acquire younger firms that have low … profitability and high capital requirements. Chaebols grow horizontally (that is, using direct family ownership) when the family …) lower profitability of pyramidal firms is partly due to a selection effect (e.g., the family optimally places low …

Persistent link: https://www.econbiz.de/10013311947