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Emerging Market Business Groups, Foreign Investors, and Corporate Governance

Khanna, Tarun - 1999

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

Persistent link: https://www.econbiz.de/10012471852

Helpman, Elhanan - 2003

). 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/10012469264

Expansion Strategies of U.S. Multinational Firms

Hanson, Gordon H. - 2001

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/10012470286

Foreign Owners and Plant Survival

Bernard, Andrew B. - 2003

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/10012468657

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/10012462084

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

Desai, Mihir A. - 2002

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/10012469485

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

Smarzynska, Beata K. - 2000

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/10012470767

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

Feliciano, Zadia - 1999

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/10012471884

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

Fukao, Kyoji - 2006

Moreover, we find that there is no positive impact on target firms' profitability in the case of both within-group in-in acquisitions and in-in acquisitions by domestic outsiders. In fact, in the manufacturing sector, the return on assets even deteriorated one year and two years after...

Persistent link: https://www.econbiz.de/10012466243

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

Almeida, Heitor - 2009

, 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/10012463666