Research in behavioral finance has shown that holidays affect investor sentiment, which in turn affects stock market returns and stock prices. These studies have focused on the relationship between holidays and stock prices and stock market returns, but little attention has been paid to how...

We develop a three-country version of the Helpman, Melitz and Yeaple (2004) model with firm heterogeneity, industry heterogeneity and country heterogeneity to study firms’ foreign market entry strategies. We show that (i) for any single host country, the export-FDI cutoff is higher in more...