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Explaining variability in the investment location choices of MNEs: An exploration of country,industry and firm effects 总被引:1,自引:0,他引:1
This paper examines the variation in foreign direct investment (FDI) location decisions of European multinational enterprises (MNEs.) An innovative empirical approach is applied to a new data set which contains over 15,000 individual FDI location decisions in 25 European countries over a 17-year period and combines country-, industry- and firm-level factors. The empirical results show that the responsiveness of FDI location choices to country-level factors is heterogeneous both across sectors and across firms of different characteristics as well as unobserved factors. For example, the results show that the importance of market size increases with investing firm’s size and skill intensity, while proximity between countries, as well as cultural and linguistic ties are more important for smaller firms. 相似文献
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Simona Mateut 《Journal of economic surveys》2005,19(4):655-670
Abstract. Recently, an increasing number of papers have investigated the role of trade credit as an external source of finance when analyzing the monetary transmission mechanism. These works support the balance sheet-channel view and at the same time explain the difficulties encountered when looking for evidence in favor of the bank-lending channel. This paper presents a survey of the emerging literature on the role of trade credit in the transmission of monetary policy, trying to link it with the well-established credit-channel literature. 相似文献
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Abstract. We survey the theoretical literature on privatization and efficiency by tracing its evolution from the applications of agency theory to recent contributions in the field of political economy. The former extend the theory of regulation with incomplete information to address privatization issues, comparing state-owned enterprises with private regulated firms. The benefits of privatization may derive either from the constraints it places on malevolent agents or from the impossibility of commitment by a benevolent government because of incomplete contracts. Contributions dealing with political economy issues separate privatization from restructuring decisions. They either explore bargaining between managers and politicians or analyse the impact of privatization shaped by political preferences on efficiency. The theoretical results regarding the relation between privatization and efficiency do not lead to any definitive conclusion. Privatization may increase productive efficiency when restructuring takes place whereas its effects on allocative efficiency still remain uncertain. 相似文献
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Although a lot of research establishes consumer reactions to corporate social responsibility (CSR), little is known about the theoretical mechanisms for these reactions. We conduct a field experiment with adult consumers to test the hypothesis that the effects of perceived CSR on consumer reactions are mediated by felt gratitude and moderated by the magnitude of altruistic values held by consumers. Two classes of consumer reactions are considered: intentions to (1) say positive things about the company, and (2) participate in advocacy actions benefiting the company. 相似文献
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Each of two experts may provide a service to a client. Experts' cost comparative advantage depends on an unknown state, but an expert may exert effort to get a private signal about it. In a market, an expert may refer the client to the other for a fee. In equilibrium, only one expert exerts effort and refers, and the equilibrium allocation is inefficient. Referral efficiency can be restored when experts form an organization, in which a referring expert must bear the referred expert's cost. However, the referred expert shirks from work effort because of the lack of cost responsibility. 相似文献
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Simona Sanfelici 《Decisions in Economics and Finance》2004,27(2):125-151
Abstract
We analyze the Galerkin infinite element method for pricing European barrier options and, more generally, options with discontinuous
payoff. The infinite element method is a simple and efficient modification of the more common finite element method. It keeps
the best features of finite elements, i.e., bandedness, ease of programming, accuracy. Three main aspects are considered:
(i) the degeneracy of the pricing PDE models at hand; (ii) the presence of discontinuities at the barriers or in the payoff
clause and their effects on the numerical approximation process; (iii) the need for resorting to suitable numerical methods
for unbounded domains when appropriate asymptotic conditions are not specified. The numerical stability and convergence of
the proposed method are proved.
Mathematics Subject Classification (2000): 65N30, 65J10
Journal of Economic Literature Classification: G13, C63 相似文献
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Initial Impressions Determine Behaviours: Morality Predicts the Willingness to Help Newcomers 总被引:1,自引:0,他引:1
Stefano Pagliaro Marco Brambilla Simona Sacchi Manuela D’Angelo Naomi Ellemers 《Journal of Business Ethics》2013,117(1):37-44
Prior research has demonstrated the impact of morality (vs. competence) information for impression formation. This study examines behavioral implications of people’s initial impressions based on information about their morality vs. competence in a workplace. School teachers and employees (N = 79) were asked to form an impression of a new school manager (i.e. a prospective boss), who was presented as High vs. Low in Morality and High vs. Low in Competence. Results showed that morality information rather than competence information determined initial emotional responses to the new manager, which mediated willingness to help the newcomer adjust in task and social contexts. Results are discussed in terms of their theoretical and practical implications and future research directions are outlined. 相似文献