Economic policy uncertainty and cross-border lending

Uncertainty Avoiding Behavior and Cross-border Acquisitions

The influence of managerial attitudes on corporate finance has become a topic of great interest. For example, Malmendier and Tate (2008) show that overconfident managers are more likely to conduct acquisitions. This research explores the impact of national business cultures on cross-border acquisitions. Business cultures can influence the ways managers cope with uncertainty and their subsequent...

Cross-Border Migration, Employment and Economic Growth

Cross-border acquisitions and optimal government policy

This paper analyses the optimality of policy specifications used to regulate the acquisition and operation of local firms by multinational enterprises. We emphasise the consequence of such regulations on the price of the domestic firm in the market for corporate control. We show that it is optimal to impose ceilings on foreign ownership of domestic firms when the government’s objective is to ma...

Cross-border Bank Lending in the APEC Region: the Role of Country Risks

T his paper aims to understand the structure and determinants of international bank l ending among APEC economies. Specifically, this paper first aims to analyze whether Australia Canada Japan Chinese Taipei and the United States, which are the only APEC members for which international borrowing data are available, tend to lend more intensively to other APEC members than to non-APEC countries ....

Economic policy uncertainty and firm-level investment

This paper examines the effect of economic policy uncertainty and its components on firm-level investment. It is found that economic policy uncertainty in interaction with firm-level uncertainty depresses firms’ investment decisions. When firms are in doubt about costs of doing business due to possible changes in regulation, cost of health care and taxes, they become more guarded with investmen...