-
作者：Berry, Heather; Kaul, Aseem
作者单位：Georgetown University; University of Minnesota System; University of Minnesota Twin Cities
摘要：In this paper, we revisit the industry-level drivers of global product integration, i.e., cross-border product flows within multinationals. While traditional explanations for these flows have focused on benefits from R & D intensity and scale at the parent level, we examine a more comprehensive set of factors, incorporating recent theoretical advances as well as the changing nature of global competition, and considering both the level and direction of integration. Using comprehensive data from...
-
作者：Jha, Soni; Awate, Snehal; Mudambi, Ram
作者单位：Pennsylvania Commonwealth System of Higher Education (PCSHE); Temple University; Purdue University System; Indiana University Purdue University Fort Wayne; Indian Institute of Technology System (IIT System); Indian Institute of Technology (IIT) - Bombay; Pennsylvania Commonwealth System of Higher Education (PCSHE); Temple University
摘要：Foreign direct investment (FDI) remains a preferred mode for multinational enterprises to access international markets, resources, and technology. However, there are vigorous debates in the academic literature about the magnitude of inward FDI spillovers and their effect on the economic growth of host countries. In this paper, we argue that these empirical inconsistencies arise from the narrow home-host bilateral context in which inward FDI spillovers are analyzed. Further, we show that the in...
-
作者：Liu, Sibo; Su, Lixin; Wu, Feng; Zhu, Xindong
作者单位：Hong Kong Baptist University; Hong Kong Polytechnic University; Lingnan University; City University of Hong Kong
摘要：We show that shared and improved auditing standards, as induced by the audit oversight arising from the Public Company Accounting Oversight Board (PCAOB)'s inspections on non-U.S. auditors, help global exporting firms upgrade themselves and tap into global value chains (GVCs). Using a dataset of U.S. waterway imports from global suppliers of 36 countries, we find that PCAOB international inspections not only lead to significantly more exports to U.S. buyers, particularly for intermediate and c...
-
作者：Altman, Edward I.; Dai, Rui; Wang, Wei
作者单位：New York University; University of Pennsylvania; The Chinese University of Hong Kong, Shenzhen; Queens University - Canada
摘要：Academics and practitioners are increasingly concerned about global zombieism, a term used to describe insolvent firms that survive with the support of financial institutions, investors, or governments, particularly during unusual market conditions. Using dual-filters of interest coverage ratio and an empirically validated default prediction model, we propose a new measure to gauge the extent of zombieism in the world's 20 largest economies. The average zombie share of listed firms has increas...
-
作者：Song, Hee-Chan
作者单位：Chulalongkorn University
摘要：Studies on multi-stakeholder processes and cross-sector partnerships have demonstrated that multiple stakeholders across different sectors can resolve sustainable development issues when they combine their complementary resources and capacities. These studies have highlighted the role of multinational enterprises (MNEs), considering their requisite resources and capacities to implement intervention strategies. However, MNEs' role remains largely underexplored in the context of non-state cultur...
-
作者：Eufinger, Christian; Gill, Andrej; Hett, Florian
作者单位：University of Navarra; IESE Business School; Johannes Gutenberg University of Mainz; Johannes Gutenberg University of Mainz
摘要：Our study examines the influence of the local financial conditions in a multinational corporation's (MNC) home country on its global strategy and market position. Establishing a headquarters in a country grants legitimacy with local stakeholders, which enhances firms' access to local capital markets. Consequently, MNCs headquartered in a country with favorable financial conditions might gain an advantage over MNCs based in countries with a less advantageous financial environment. To analyze th...
-
作者：Bertrand, Olivier; Betschinger, Marie-Ann
作者单位：Universite de Montreal; HEC Montreal
摘要：Development aid is recognized in the fields of international relations and development economics as an important geopolitical tool for supporting the outward FDI of developed countries in developing countries. However, little attention has been given to the role of firm heterogeneity, a central concept in IB, in the aid-FDI relationship. This study helps address this gap by bringing the aid-FDI nexus to the level of the firm. We argue that both infrastructure and non-infrastructure aid encoura...
-
作者：Aguzzoli, Roberta; Sliwa, Martyna; Lengler, Jorge; Brewster, Chris; Quatrin, Denise Rossato
作者单位：Durham University; University of Reading; Getulio Vargas Foundation
摘要：The literature on expatriation typically assumes that cultural and institutional familiarity facilitates expatriate adjustment. This assumption underplays the role of the historical context, especially the influence of painful colonial pasts that often lie beneath such familiarity. In addition, seeking to capture expatriate adjustment as a single measure, such literature does not engage with the differences in the extent to which expatriates achieve cognitive, behavioral, and affective adjustm...
-
作者：Chen, Guoli; Dong, Jiyang; Hu, Jinshuai; Zhang, Feida
作者单位：INSEAD Business School; Nazarbayev University; Xiamen University; China Europe International Business School
摘要：Do anticorruption efforts affect a country's investment appeal? Business investment depends on a stable and predictable institutional environment, but meaningful control of corruption typically requires a radical change in the institutional system that has enabled it. This underscores the need for a deeper understanding of how anticorruption efforts can affect the enforcing country's institutional system on which investment relies. Synthesizing the concept of institutional complementarity and ...
-
作者：Allen, Franklin; Qian, Meijun
作者单位：People's Bank of China; Tsinghua University
摘要：Firms increasingly rely on alternative finance (AF) in addition to banks and equity markets, and its usage across countries differs significantly. We conceptualize AF as financing that operates within social, business, and virtual networks that generate informational, collateral, and incentive advantages compared to finance relying on traditional financial intermediaries. Examples of AF include family loans, microfinance, trade credit, community credit cooperatives, person-to-person (P2P), and...
