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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...
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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...
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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...
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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...
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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...
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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...
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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 ...
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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...
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作者：Buckley, Peter J.; Murphree, Michael; Anderson, John
作者单位：University of Manchester; University of Sydney; University of Northern Iowa
摘要：The focus of this article is the examination of the factors that trigger the addition of horizontal subcontracting to the structure of global factories. Horizontal subcontracting takes place when one firm is contracted to produce a given item, fills as much of the order as they are able to based on their available capacity, and subsequently subcontracts the remainder to a qualitatively identical firm. We find that similar entrepreneurial backgrounds of contract manufacturers lead to strong bus...
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作者：Berger, Allen N.; Guedhami, Omrane; Kirimhan, Destan; Li, Xinming; Zhao, Daxuan
作者单位：University of South Carolina System; University of South Carolina Columbia; University of Pennsylvania; Sungkyunkwan University (SKKU); American University of Sharjah; Nankai University; Renmin University of China
摘要：Universal banking powers are permissions for a nation's banks to provide financial services beyond plain vanilla banking activities. Some nations restrict banking activities to only services such as loans and deposits, while others permit commercial banks to also engage in investment banking, insurance underwriting, and/or real estate investment activities. Despite the research and policy importance of this issue, the literature essentially neglects how these powers affect the primary role of ...
