This paper investigates domestic and foreign innovating firms’ determinants of R&D collaboration with domestic universities and public knowledge institutes in Finland and the Netherlands. We put particular emphasis on the impact of incoming academic spillovers on the probability to co-operate with these public R&D institutes. Based on data from Community Innovation Surveys we find that foreign ...

Multinational firms pay relatively high wages. Less is known about the wage structure within multinational and non-multinational firms. We examine the impact of acquisitions on wage dispersion in Sweden using a large matched employer-employee data set. Foreign acquisitions of Swedish firms increase wage dispersion by increasing wages for high-skilled workers. The positive impact is concentrated...

Foreign IPO firms incur higher issuance costs than domestic firms due to greater information asymmetry and ex ante valuation uncertainty. Little is known about how to overcome such liability of foreignness. This study, based on foreign-listed Chinese firms, shows that pre-IPO financing relationship with investors from the country of listing can effectively mitigate cross-border information fric...

This paper re-examines the impact of a firm’s outward foreign direct investemnt on its R&D spending in the home country with propensity score matching method. Employing firm-level panel data on Taiwan’s manufacturing firms covering 1987-2003, this paper first demonstrates that firms with firm-specific and ownership advantages are more likely to undertake overseas inverstment. Controlling for ou...

This paper examines the impact of the volatility of foreign portfolio investment on the financial constraints of small firms. Utilizing a dataset of over 195,000 firm-year observations across 53 countries, I examine the impact of foreign portfolio investment instability on capital issuance and firm growth across countries and firm characteristics, in particular size. After controlling for the e...

a r t i c l e i n f o Keywords: Managerial cognition International experience Foreign direct investment Top management team Asian emerging economy Event history analysis Focusing on the cognitive process of managerial decision making, we argue that both organizational and personal international experiences contribute to managerial knowledge structure which in turn influences firms' foreign dire...

Using recent data on propensity-score matched firms from the U.K manufacturing industry, the paper uncovers evidence that acquisition FDI is an important channel of direct technology transfer from foreign multinationals to domestic exporters. This is consistent with the recently developed theory by Helpman, Melitz and Yeaple (2002) which, because of sunk costs, predicts firms engaged in FDI act...

This study investigates how corporate governance characteristics affect earnings management of firms in Vietnam. In particular, we examine whether firm’s use of discretionary accruals is influenced by board size, state ownership and foreign ownership. Our empirical analysis is based on a relatively large sample of 570 non-financial Vietnamese listed firms from 2010 to 2014. We find that larger ...

This dissertation consists of three essays that examine banking and corporate finance in developing countries. Specifically, it explores the theoretical and empirical implications of open capital markets, foreign bank entry, and the role of bond markets during banking crises. Chapter 1 analyzes the impact of opening capital markets using a theoretical model that incorporates both foreign and do...

Based on Helpman et al. (2004) we propose a simple two-country (Home and Foreign) model with heterogeneous firms to capture the role of FDI via utilizing time zone differences. Two countries are located in different time zones and there is no overlap in daily working hours. It will be shown that productivities of the firms undertaking FDI are higher than the productivities of non-FDI f i r m s ...