Extant literature suggests that firms may gain legitimacy through imitation. But little known is about whom foreign multinational enterprises (MNEs) will imitate, given that they have multiple social referents: home-country peers and host-country industry competitors. Drawing upon category...

Studying a sample of Japanese firms, we examine whether foreign investors exert a significant influence on earnings management through manipulation of real activities. We find that foreign investors play an independent role in restraining real earnings management, as captured by abnormal cash...

The $4.7 billion acquisition of Smithfield Foods, Inc. by China's Shuanghui International Holdings Ltd. (now WH Group Ltd.) marks the largest Chinese takeover of a U.S. company in history. In this study, we explored how this acquisition affected consumers' willingness-to-pay for meat products in...

In this paper, we rely on the plausibly exogeneous relaxations in Foreign Direct Investment (FDI) policies from 2007 to 2015 to study the impact of FDI liberalization on occupational mobility in China. To quantify the policy changes, we create a 4-digit FDI liberalization index and link it with...

Throughout the era of China’s WTO accession, the labor market and education dynamics have been significantly impacted by the surge in FDI. This study systematically scrutinizes how these factors interplay, with emphasis on migrants’ educational attainment, skill premium, and employment...