This paper examines the role of a particular class of institutional investors, domestic and foreign banks, in corporate decisions that have liquidity implications such as inventory and cash management. Using a sample of 256 non-financial listed firms in six Asian countries over the period of 2002–2005, this paper shows that foreign banks improve inventory and cashmanagement practices, due to th...

U.S. investors have traditionally been reluctant to acquire foreign securities—in part, perhaps, because they fear that restrictions on trading in foreign markets will sharply limit any gains they might realize from diversifying their portfolios. An analysis of the effects of one type of restriction, short-sale constraints, on stock returns between 1976 and 1999 suggests that investing in emerg...

The Australian coal industry has been described as being a perpetual case of ‘profitless prosperity’. This implies that foreign companies invest in low-margin mining activities with motives other than profit. It is argued that foreign investors and Japanese trading companies in particular used government investment concessions and subsidies to help create oversupply in the seaborne coal market....

9 National Tax Journal Vol. LIII, No. 1 Abstract We compare the tax-paying behavior of U.S. firms substantially influenced by foreign-domiciled firms with other U.S. firms. Because public information is lacking on U.S. firms whollyowned by foreign investors, we concentrate on publicly held firms with “significant,” but not 100 percent, foreign ownership. Public financial statements are analyzed...

This paper provides new evidence on the relationship between foreign direct investment (FDI) and the productivity of domestic firms. Using a specially designed survey on a sample of over 7,500 manufacturing firms in Vietnam we uncover some of the mechanisms that explain productivity spillovers from FDI through vertical linkages along the supply chain. Our results suggest that domestic firms exp...

Using thousands of brokerage accounts of U.S. individual investors, we analyze the motivations and consequences of foreign equity investment. We find that diversification is not the only reason that investors trade foreign securities. While wealthier, more experienced investors enjoy an informational advantage and, thus, are more likely to invest overseas and experience good portfolio performan...

Cross-border venture capital investing has increased dramatically over the last two decades. Previous research has shown that foreign venture capitalists tend to partner with local venture capitalists as a strategy for offsetting information asymmetries and liabilities of foreignness. This paper examines the choice of co-investors by foreign venture capitalists investing in the Chinese market. ...

foreign investment issue and compensation in that field constitutes one of the most important matters in contemporary international law. when an investment relation between a host state and foreign investors is formed, the parties to terminate the relations are committed to comply with the obligations they accepted. however at times, when there is an expropriation of assets of foreign investors...

We examine the portfolio turnover of mutual funds from 29 countries across the world and for the period 1999 to 2004. Our results indicate that turnover in foreign securities is higher in the countries that are less developed, have less investor protection, have lower information disclosure standard, and are less familiar to the fund managers. The negative relationship between turnover in forei...