Mostrando recursos 1 - 2 de 2

  1. Beyond product markets: new insight on liability of foreignness from capital markets

    Bell, R. Greg; Filatotchev, Igor; Rasheed, Abdul A.
    We expand the Liability of Foreignness (LOF) construct beyond the product market domain to include liabilities faced by firms attempting to secure resources in host capital markets. Drawing from institutional theory and research in finance, we identify institutional distance, information asymmetry, unfamiliarity, and cultural differences as the main sources of capital market LOF (CMLOF). We then propose that the impact of these antecedent factors can be moderated through bonding, signaling, organizational isomorphism, and reputational endorsements. (author's abstract)
    (application/pdf) - 18-oct-2016

  2. Global Warming and Economic Externalities

    Rezai, Armon; Foley, Duncan K.; Taylor, Lance
    Despite worldwide policy efforts such as the Kyoto Protocol, the emission of greenhouse gases (GHG) remains a negative externality. Economic equilibrium paths in the presence of such an uncorrected externality are inefficient; as a consequence there is no real economic opportunity cost to correcting this externality by mitigating global warming. Mitigation investment using resources diverted from conventional investments can raise the economic well-being of both current and future generations. The economic literature on GHG emissions misleadingly focuses attention on the intergenerational equity aspects of mitigation by using a hybrid constrained optimal path as the "business-as-usual" benchmark. We calibrate a simple...
    (application/pdf) - 24-dic-2016

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