We investigate government subsidy policies in which a home firm and a foreign firm choose to strategically set prices or quantities in a third market. We show that even though each firm can earn higher profits under Cournot competition than under Bertrand competition regardless of the nature of...

This paper presents a two-stage game, in which in the first stage two multinational firms (MNFs) seeking pollution havens choose a location, that is, whether to export to or undertake FDI in the host country, and in the second stage, these two MNFs and a firm in the host country play a Cournot...

type="main" <p>In this paper, we develop a location model of two multi-national firms (MNFs) with reverse imports and examine the consistency of MNFs' location shift in terms of social welfare in the foreign direct investment (FDI) source (home) country. If fixed costs are incurred in FDI, trade...</p>

Employing the micro data for 1997--2004, we investigate the location decision of Korean-affiliated manufacturing investments in the United States. The conditional logit estimates confirm that although industry-specific Korean agglomeration and domestic agglomeration play an important role, the...

The primary purpose of this study is to investigate whether the market prices discretionary and non-discretionary tax accruals. Previous studies have examined the persistence of total accruals (Sloan in Account Rev 71(3):289–315, <CitationRef CitationID="CR74">1996</CitationRef>) and the persistence of discretionary and non-discretionary...</citationref>

This study investigates the relationship between research and development (R&D) expenditures and risk premiums implied in the costs of equity capital. We posit that R&D expenditures represent an information risk factor resulting from both information asymmetry about R&D between investors and...

During the dot-com bubble of the 1990s, equity market valuation was a popular topic for investors, financial analysts and academics. Some questioned whether traditional accounting and financial information had lost its value relevance, as stocks traded at multiples of earnings well in excess of...

Purpose – This paper seeks to investigate whether disaggregated bank earnings better predict next period earnings than contemporaneous aggregated earnings. Design/methodology/approach – Fairfield et al.'s (1996) regression approach is used for predicting next period's return of equity (ROE)...