We use a new firm level data set which establishes the location, ownership, and activity of 650,000 multinational subsidiaries—close to a comprehensive picture of global multinational activity—. A number of patterns emerge from the data. Most foreign direct investment (FDI) occurs between rich countries. The share of vertical FDI (subsidiaries which provide inputs to their parent firms) is larg...

This paper explores the effects of import competition on manufacturing sector in Chile following implementation country’s two largest Free Trade Agreements (FTA) (with USA and China). Exploiting cross-industry variation exposure, we analyse sales, employment labour productivity at finest level industrial classification (4 digit ISIC level). We detect an overall negative effect increased Chinese...

We document three new facts about entrepreneurship. First, a majority of male entrepreneurs start a firm in the same or a closely related industry as their fathers’ industry of employment. Second, this tendency is correlated with intelligence: higher-IQ entrepreneurs are less likely to follow their fathers. Third, an entrepreneur that starts a firm in the same 5-digit industry as where his fath...

The hormonal environment experienced during prenatal development may affect adult phenotype and behaviour. Digit lengths may provide an estimate of steroid levels encountered during embryonic development in humans and other vertebrates. Finger patterns in humans have been shown to reveal sexual orientation or cooperative behaviour. We explored individual breeding behaviour in a monogamous seabi...

earnings management has inverted the main objective of financial reporting through the distortion of the actual economic performance of companies and prevented the complete transfer of information to market. given the importance of subject of research, incentives that cause earnings management have been reviewed from various aspects. the main purpose of this research is to examine the relations...

Although research on CEO compensation is voluminous, only limited attention has been paid to the role of industry. In this paper we develop an industry-level explanatory theory based on the concept of managerial discretion, and test it using a multi-level structural equation modeling approach at the industry level. In contrast to previous work, this theory offers an explanation of why, and how,...

Drastic changes and turbulence in macro-economic factors have the greatest impact on banks target market attractiveness in Iran. It is assumed that conventional segmentation models at the corporate level are not efficient for banking system. This study aims to develop a new segmentation model at the industry level for banks of Iran. For this purpose, structures and variables at the industry lev...

The 2nd to 4th digit ratio (2D:4D) is a sexually dimorphic biometric marker, related to prenatal estrogen and testosterone levels in utero, and determined genetically by the HOX genes. 2D:4D presents a population variation, which seems to be dependent on geographical position or ethnicity, and may reflect differences in prenatal steroid hormone levels among different ethnic groups. In view of i...

In this paper, we examine the importance of year, industry, corporate-parent, and businessspecific effects on the profitability of U.S. public corporations within specific 4-digit SIC categories. Our results indicate that year, industry, corporate-parent, and business-specific effects account for 2 percent, 19 percent, 4 percent, and 32 percent, respectively, of the aggregate variance in profit...