skip to content
Multinational firms, FDI flows and imperfect capital markets Preview this item
ClosePreview this item
Checking...

Multinational firms, FDI flows and imperfect capital markets

Author: Pol Antràs; Mihir A Desai; C Fritz Foley; National Bureau of Economic Research.
Publisher: Cambridge, Mass. : National Bureau of Economic Research, 2007.
Series: Working paper series (National Bureau of Economic Research), no. 12855.
Edition/Format:   eBook : Document : EnglishView all editions and formats
Database:WorldCat
Summary:
"This paper examines how costly financial contracting and weak investor protection influence the cross-border operational, financing and investment decisions of firms. We develop a model in which product developers have a comparative advantage in monitoring the deployment of their technology abroad. The paper demonstrates that when firms want to exploit technologies abroad, multinational firm (MNC) activity and  Read more...
Rating:

(not yet rated) 0 with reviews - Be the first.

Subjects
More like this

 

Find a copy online

Find a copy in the library

&AllPage.SpinnerRetrieving; Finding libraries that hold this item...

Details

Material Type: Document, Internet resource
Document Type: Internet Resource, Computer File
All Authors / Contributors: Pol Antràs; Mihir A Desai; C Fritz Foley; National Bureau of Economic Research.
OCLC Number: 79873632
Description: 1 online resource (1 volume).
Series Title: Working paper series (National Bureau of Economic Research), no. 12855.
Responsibility: Pol Antras, Mihir A. Desai, C. Fritz Foley.

Abstract:

"This paper examines how costly financial contracting and weak investor protection influence the cross-border operational, financing and investment decisions of firms. We develop a model in which product developers have a comparative advantage in monitoring the deployment of their technology abroad. The paper demonstrates that when firms want to exploit technologies abroad, multinational firm (MNC) activity and foreign direct investment (FDI) flows arise endogenously when monitoring is nonverifiable and financial frictions exist. The mechanism generating MNC activity is not the risk of technological expropriation by local partners but the demands of external funders who require MNC participation to ensure value maximization by local entrepreneurs. The model demonstrates that weak investor protections limit the scale of multinational firm activity, increase the reliance on FDI flows and alter the decision to deploy technology through FDI as opposed to arm's length licensing. Several distinctive predictions for the impact of weak investor protection on MNC activity and FDI flows are tested and confirmed using firm-level data"--NBER website.

Reviews

User-contributed reviews
Retrieving GoodReads reviews...
Retrieving DOGObooks reviews...

Tags

Be the first.
Confirm this request

You may have already requested this item. Please select Ok if you would like to proceed with this request anyway.

Linked Data


Primary Entity

<http://www.worldcat.org/oclc/79873632> # Multinational firms, FDI flows and imperfect capital markets
    a schema:Book, schema:MediaObject, schema:CreativeWork ;
    library:oclcnum "79873632" ;
    library:placeOfPublication <http://experiment.worldcat.org/entity/work/data/64993157#Place/cambridge_mass> ; # Cambridge, Mass.
    library:placeOfPublication <http://id.loc.gov/vocabulary/countries/mau> ;
    schema:about <http://experiment.worldcat.org/entity/work/data/64993157#Topic/international_business_enterprises_finance_mathematical_models> ; # International business enterprises--Finance--Mathematical models
    schema:about <http://id.worldcat.org/fast/976801> ; # International business enterprises--Finance--Mathematical models
    schema:bookFormat schema:EBook ;
    schema:contributor <http://viaf.org/viaf/62614191> ; # Mihir Arvind Desai
    schema:contributor <http://viaf.org/viaf/33072014> ; # C Fritz Foley
    schema:contributor <http://viaf.org/viaf/127108210> ; # National Bureau of Economic Research.
    schema:creator <http://viaf.org/viaf/45362043> ; # Pol Antràs
    schema:datePublished "2007" ;
    schema:description ""This paper examines how costly financial contracting and weak investor protection influence the cross-border operational, financing and investment decisions of firms. We develop a model in which product developers have a comparative advantage in monitoring the deployment of their technology abroad. The paper demonstrates that when firms want to exploit technologies abroad, multinational firm (MNC) activity and foreign direct investment (FDI) flows arise endogenously when monitoring is nonverifiable and financial frictions exist. The mechanism generating MNC activity is not the risk of technological expropriation by local partners but the demands of external funders who require MNC participation to ensure value maximization by local entrepreneurs. The model demonstrates that weak investor protections limit the scale of multinational firm activity, increase the reliance on FDI flows and alter the decision to deploy technology through FDI as opposed to arm's length licensing. Several distinctive predictions for the impact of weak investor protection on MNC activity and FDI flows are tested and confirmed using firm-level data"--NBER website."@en ;
    schema:exampleOfWork <http://worldcat.org/entity/work/id/64993157> ;
    schema:inLanguage "en" ;
    schema:isPartOf <http://experiment.worldcat.org/entity/work/data/64993157#Series/nber_working_paper_series> ; # NBER working paper series ;
    schema:isPartOf <http://experiment.worldcat.org/entity/work/data/64993157#Series/working_paper_series_national_bureau_of_economic_research> ; # Working paper series (National Bureau of Economic Research) ;
    schema:name "Multinational firms, FDI flows and imperfect capital markets"@en ;
    schema:productID "79873632" ;
    schema:publication <http://www.worldcat.org/title/-/oclc/79873632#PublicationEvent/cambridge_mass_national_bureau_of_economic_research_2007> ;
    schema:publisher <http://experiment.worldcat.org/entity/work/data/64993157#Agent/national_bureau_of_economic_research> ; # National Bureau of Economic Research
    schema:url <http://papers.nber.org/papers/w12855> ;
    wdrs:describedby <http://www.worldcat.org/title/-/oclc/79873632> ;
    .


Related Entities

<http://experiment.worldcat.org/entity/work/data/64993157#Agent/national_bureau_of_economic_research> # National Bureau of Economic Research
    a bgn:Agent ;
    schema:name "National Bureau of Economic Research" ;
    .

<http://experiment.worldcat.org/entity/work/data/64993157#Place/cambridge_mass> # Cambridge, Mass.
    a schema:Place ;
    schema:name "Cambridge, Mass." ;
    .

<http://experiment.worldcat.org/entity/work/data/64993157#Series/nber_working_paper_series> # NBER working paper series ;
    a bgn:PublicationSeries ;
    schema:hasPart <http://www.worldcat.org/oclc/79873632> ; # Multinational firms, FDI flows and imperfect capital markets
    schema:name "NBER working paper series ;" ;
    .

<http://experiment.worldcat.org/entity/work/data/64993157#Series/working_paper_series_national_bureau_of_economic_research> # Working paper series (National Bureau of Economic Research) ;
    a bgn:PublicationSeries ;
    schema:hasPart <http://www.worldcat.org/oclc/79873632> ; # Multinational firms, FDI flows and imperfect capital markets
    schema:name "Working paper series (National Bureau of Economic Research) ;" ;
    .

<http://experiment.worldcat.org/entity/work/data/64993157#Topic/international_business_enterprises_finance_mathematical_models> # International business enterprises--Finance--Mathematical models
    a schema:Intangible ;
    schema:hasPart <http://id.loc.gov/authorities/subjects/sh2008104823> ;
    schema:name "International business enterprises--Finance--Mathematical models"@en ;
    .

<http://id.worldcat.org/fast/976801> # International business enterprises--Finance--Mathematical models
    a schema:Intangible ;
    schema:name "International business enterprises--Finance--Mathematical models"@en ;
    .

<http://viaf.org/viaf/127108210> # National Bureau of Economic Research.
    a schema:Organization ;
    schema:name "National Bureau of Economic Research." ;
    .

<http://viaf.org/viaf/33072014> # C Fritz Foley
    a schema:Person ;
    schema:familyName "Foley" ;
    schema:givenName "C. Fritz" ;
    schema:name "C Fritz Foley" ;
    .

<http://viaf.org/viaf/45362043> # Pol Antràs
    a schema:Person ;
    schema:birthDate "1975" ;
    schema:familyName "Antràs" ;
    schema:givenName "Pol" ;
    schema:name "Pol Antràs" ;
    .

<http://viaf.org/viaf/62614191> # Mihir Arvind Desai
    a schema:Person ;
    schema:birthDate "1968" ;
    schema:familyName "Desai" ;
    schema:givenName "Mihir Arvind" ;
    schema:givenName "Mihir A." ;
    schema:name "Mihir Arvind Desai" ;
    .


Content-negotiable representations

Close Window

Please sign in to WorldCat 

Don't have an account? You can easily create a free account.