Commercial Policy and Foreign Ownership
نویسندگان
چکیده
*Ishikawa: Faculty of Economics, Hitotsubashi University, Kunitachi, Tokyo 186-8601, Japan. Fax: +81-(0)42-580-8882; E-mail: [email protected]. Sugita: Stockholm School of Economics, P.O. Box 6501, SE-113 83 Stockholm, Sweden. Tel: +46-8-736-9254; Email: [email protected]. Zhao: RIEB, Kobe University, Kobe 657-8501, Japan. Fax/Tel: +81-78-803-7006; E-mail: [email protected]. We thank two anonymous referees, Taiji Furusawa, Hodaka Morita, Takanobu Nakajima, Peter Neary, Takao Ohkawa, Tony Venables, and participants of seminars at a number of universities and conferences for their helpful comments and suggestions on earlier versions of the paper. Ishikawa and Sugita acknowledge financial support from the Ministry of Education, Culture, Sports, Science and Technology of Japan under the Center of Excellence Projects. Any remaining errors are our own responsibility.
منابع مشابه
The Normative Evaluation and Social Choice of Contemporary Economic Systems
It is often observed that in order to serve the domestic market, foreign firms not only export but also control domestic firms through foreign direct investment (FDI). This paper examines the effects of tariffs, production subsidies, and foreign ownership regulation on prices, outputs, profits, and welfare when both exports and FDI coexist. Cross-border ownership on the basis of both financial ...
متن کاملThe Transformation of Ownership Policy and Structure in Postwar Sweden*
We investigate the dramatic transformation of ownership policies and ownership structure in Sweden during the postwar period. After WWII, Swedish ownership policies were guided by a socialist vision where the ultimate goal was abolition of private ownership. These policies came to an end in the early 1980s. Since then a large number of Swedish firms have been acquired by foreign owners or merge...
متن کاملThe transformation of ownership policy and structure in Sweden : Convergence towards the Anglo - Saxon model ?
We investigate the dramatic transformation of ownership policies and ownership structure in Sweden during the postwar period. After WWII, Swedish ownership policies were guided by a socialist vision where the ultimate goal was abolition of private ownership. These policies came to an end in the early 1980s. Since then a large number of Swedish firms have been acquired by foreign owners or merge...
متن کاملThe role of cross-listing, foreign ownership and state ownership in dividend policy in an emerging market
In this paper, we investigate if dividend policy is influenced by ownership type. Within the dividend literature, dividends have a signaling role regarding agency costs, such that dividends may diminish insider conflicts (reduce free cash flow) or may be used to extract cash from firms (tunneling effect) – which could be predominant in emerging markets. We expect firms with foreign ownership an...
متن کاملHow performance gaps between domestic firms and foreign affiliates matter for economic policy
Empirical evidence showing that foreign affiliates perform better in almost all areas than their domestic counterparts is piling up. Yet, contrary to arguments of the public debate, it is not primarily foreign ownership which accounts for performance gaps between domestic firms and foreign affiliates. Firm-specific assets, firm characteristics, the home country of the parent firms and the trans...
متن کاملKnowledge transfer to China: policy lessons from foreign affiliates
The recent strategy of the Government of China has been to attract foreign direct investment in order to obtain foreign technology and capital. There is an official preference for advanced technology, and for its rapid diffusion to domestic firms. This approach underpins the joint-venture legislation applicable to most parts of the manufacturing sector. Using four case studies of foreign affili...
متن کامل