Rajah Rasiah This paper seeks to examine the importance of ownership in R&D intensities and export ownership in the automotive parts firms in China, Indonesia, Malaysia, Philippines and Taiwan. Consistent with the portfolio and ownership, location and internationalization theories of foreign direct investment about asset specific advantages, the pooled regressions show higher R&D intensities in...

Reducing nonresponse and attrition is a primary goal of the SIPP Methods Panel; a key strategy toward that goal is the design of a more efficient questionnaire. This paper describes an experiment which tests new questionnaire efficiencies for SIPP's asset ownership questions. The standard SIPP questionnaire includes a 12-question battery about different types of assets, some of which (for examp...

ABSTRACT Blockchain transactions are recorded in a shared and append-only repository that multiple parties verify, validate, agree upon. While initially used to keep track of digital assets, blockchains now the ownership provenance tangible assets. An inherent challenge using blockchain for this task involves keeping status asset physical world sync with its non-fungible token on blockchain. se...

Petroleum products bought and sold on the world wide market may be transported over thousands of miles and change ownership many times from the well head to the end user. Each time the product changes ownership, a “custody transfer” is completed and both buyer and seller expect their asset share to be accurately measured. The dynamic measurement provided by meters is a convenient and accurate m...

The effect of insecure ownership on ordinary investment and on the exploitation of natural resources is examined. Insecure ownership is characterized as a positive probability that a typical asset or its future return will be confiscated. For empirical analysis, the probability of confiscation is modeled as a function of observable political attributes of countries, principally the type of gove...

Treating control as an asset that can be bought and sold, we introduce a model of the simultaneous and separable trading of ownership and control in a private information setting. The model provides a novel explanation for the prevalence and persistence of the separation of ownership from control in modern corporations: efficiency in the market for corporate control is more easily achieved when...

We investigate the possibility that limited participation in asset markets, and the stock market in particular, might explain the lack of correspondence between the sample moments of the intertemporal marginal rate of substitution and asset returns in U.K. data. We estimate ownership probabilities to separate “likely” shareholders from nonshareholders, enabling us to control for changing compos...

Is the reputation of a firm tradable when the change in ownership is observable? We consider a competitive market in which a share of owners must retire in each period. New owners bid for the firms that are for sale. Customers learn the owner’s type, which reflects the quality of the good or service provided, through experience. After observing an ownership change they may want to switch firm. ...

The paper studies agents’ investment decisions between general and speci...c investments under di¤erent ownership structures in a thin, decentralized market where each agent’s decision a¤ects the decisions and welfare of other (otherwise unrelated) agents mainly through indirect market linkages. The paper demonstrates that “excess competition among investors,” in every equilibrium, will lead to...