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Multinational Firms, Monopolistic Competition and Foreign Investment Uncertainty

Chawla, Arunish - Centre for Economic Performance, LSE - 2008

FDI option, while growing market size and national income facilitate early exercise. The model is extended to include a … Poisson jump process, which has policy implications for FDI reforms and explains 'wait and watch' behaviour of multinational … based on the theory of call options, I solve 'FDI option' as a put option, thereby also enriching the theory of real options. …

Persistent link: https://www.econbiz.de/10005151056

International Financial Integration and Entrepreneurship

Alfaro, Laura; Charlton, Andrew - Centre for Economic Performance, LSE - 2006

We explore the relation between international financial integration and the level of entrepreneurial activity in a country. Using a unique data set of approximately 24 million firms in nearly 100 countries in 1999 and 2004, we find suggestive evidence that international financial integration has...

Persistent link: https://www.econbiz.de/10005796107

Home Bias, Transactions Costs, and Prospects for the Euro: A More Detailed Analysis

Mann, Catherine L.; Meade, Ellen E. - Centre for Economic Performance, LSE - 2002

This paper brings together the literature on determination of home bias in equity holdings and the portfolio balance model of exchange rates to consider whether the dollar might be affected by a change in transactions costs that alters international portfolio allocations. Our empirical findings...

Persistent link: https://www.econbiz.de/10005016709

Relative Factor Endowments and International Portfolio Choice

Cuñat, Alejandro; Fons-Rosen, Christian - Centre for Economic Performance, LSE - 2008

This paper presents a model of international portfolio choice based on cross-country differences in relative factor abundance. Countries have varying degrees of similarity in their factor endowment ratios, and are subject to aggregate productivity shocks. Risk averse consumers can insure against...

Persistent link: https://www.econbiz.de/10005151036

Capital Markets, Ownership and Distance

Carlin, Wendy; Charlton, Andrew; Mayer, Colin - Centre for Economic Performance, LSE - 2006

This paper uses a new data-set to examine how internal capital markets and foreign ownership affect investment. Our data allow us to compare investment behaviour of listed subsidiaries with stand-alone firms while controlling for investment opportunities of parent and subsidiary firms. We...

Persistent link: https://www.econbiz.de/10005151060

Capital Mobility and Unemployment Dynamics: Evidence from a Panel of OECD Countries

Vallanti, Giovanna - Centre for Economic Performance, LSE - 2005

We use a panel of 20 OECD countries over a 30-year period to estimate the implications of international capital mobility for unemployment. We find that the increase in capital flows since the mid1980s has contributed to an amplification of the impulse response of unemployment to country-specific...

Persistent link: https://www.econbiz.de/10005670495

From Selling Goods to Selling Services: Firm Responses to Trade Liberalization

Breinlich, Holger; Soderbery, Anson; Wright, Greg C. - Centre for Economic Performance, LSE - 2014

In the face of trade liberalization domestic firms are often forced out of the market, whereas others adapt and survive. In this paper we focus on a new channel of adaptation, namely the shift toward increased provision of services in lieu of goods production. We exploit variation in EU trade...

Persistent link: https://www.econbiz.de/10010945148

The Impact of Private Ownership, Incentives and Local Development Objectives on University Technology Transfer Performance

Belenzon, Sharon; Schankerman, Mark - Centre for Economic Performance, LSE - 2007

We study the impact of private ownership, incentive pay and local development objectives on university licensing performance. We develop and test a simple contracting model of technology licensing offices, using new survey information together with panel data on U.S. universities for 1995-99. We...

Persistent link: https://www.econbiz.de/10005220060

Multinationals and US Productivity Leadership: Evidence from Great Britain

Criscuolo, Chiara; Martin, Ralf - Centre for Economic Performance, LSE - 2005

We study the productivity of US owned plants in the UK. Using a new dataset that identifies foreign and domestic MNEs, we find that UK MNEs are less productive than US affiliates, but as productive as non US foreign affiliates. We investigate the source of the US and MNE advantage. We find...

Persistent link: https://www.econbiz.de/10005150984

Productivity and the Sourcing Modes of Multinational Firms: Evidence from French Firm-Level Data

Defever, Fabrice; Toubal, Farid - Centre for Economic Performance, LSE - 2007

We investigate the role of a firm's total factor productivity in its decision to import from their affiliates rather than from independent input suppliers. We propose a slightly modified version of the Antràs and Helpman (2004) model. We assume higher fixed costs under outsourcing and a...

Persistent link: https://www.econbiz.de/10005151002