Matches in SemOpenAlex for { <https://semopenalex.org/work/W2150876546> ?p ?o ?g. }
- W2150876546 endingPage "2073" @default.
- W2150876546 startingPage "2027" @default.
- W2150876546 abstract "Abstract This article starts by unveiling a strong empirical regularity: multinational corporations exhibit higher stock market returns and earning yields than nonmultinational firms. Within nonmultinationals, exporters exhibit higher earning yields and returns than firms selling only in their domestic market. To explain this pattern, we develop a real option value model where firms are heterogeneous in productivity and have to decide whether and how to sell in a foreign market where demand is risky. Selling abroad is a source of risk exposure to firms: following a negative shock, they are reluctant to exit the foreign market because they would forgo the sunk cost they paid to enter. Multinational firms are the most exposed because of the higher costs they have to pay to invest. The calibrated model is able to match both aggregate U.S. export and foreign direct investment data, and the observed cross-sectional differences in earning yields and returns." @default.
- W2150876546 created "2016-06-24" @default.
- W2150876546 creator A5035745972 @default.
- W2150876546 creator A5036620569 @default.
- W2150876546 date "2015-09-04" @default.
- W2150876546 modified "2023-10-03" @default.
- W2150876546 title "Risk, Returns, and Multinational Production *" @default.
- W2150876546 cites W1502161307 @default.
- W2150876546 cites W1536779365 @default.
- W2150876546 cites W1574786337 @default.
- W2150876546 cites W1970035215 @default.
- W2150876546 cites W1976191501 @default.
- W2150876546 cites W1978473707 @default.
- W2150876546 cites W1985349674 @default.
- W2150876546 cites W1991178847 @default.
- W2150876546 cites W2002882686 @default.
- W2150876546 cites W2003090069 @default.
- W2150876546 cites W2004256660 @default.
- W2150876546 cites W2027063727 @default.
- W2150876546 cites W2037075819 @default.
- W2150876546 cites W2038002035 @default.
- W2150876546 cites W2053114449 @default.
- W2150876546 cites W2068322158 @default.
- W2150876546 cites W2075978127 @default.
- W2150876546 cites W2087076079 @default.
- W2150876546 cites W2087385228 @default.
- W2150876546 cites W2093260403 @default.
- W2150876546 cites W2099167504 @default.
- W2150876546 cites W2102450637 @default.
- W2150876546 cites W2113305199 @default.
- W2150876546 cites W2114859981 @default.
- W2150876546 cites W2119143694 @default.
- W2150876546 cites W2134779898 @default.
- W2150876546 cites W2135296617 @default.
- W2150876546 cites W2146387535 @default.
- W2150876546 cites W2149180867 @default.
- W2150876546 cites W2152216902 @default.
- W2150876546 cites W2158454654 @default.
- W2150876546 cites W2240968826 @default.
- W2150876546 cites W3021718079 @default.
- W2150876546 cites W3121470524 @default.
- W2150876546 cites W3122063900 @default.
- W2150876546 cites W3122233860 @default.
- W2150876546 cites W3122464891 @default.
- W2150876546 cites W3122553623 @default.
- W2150876546 cites W3122649028 @default.
- W2150876546 cites W3123850190 @default.
- W2150876546 cites W3123952677 @default.
- W2150876546 cites W3124082184 @default.
- W2150876546 cites W3125265525 @default.
- W2150876546 cites W3125464438 @default.
- W2150876546 cites W3125628934 @default.
- W2150876546 cites W3126059480 @default.
- W2150876546 cites W4229767932 @default.
- W2150876546 cites W4250903965 @default.
- W2150876546 cites W4252994084 @default.
- W2150876546 cites W4365787967 @default.
- W2150876546 doi "https://doi.org/10.1093/qje/qjv031" @default.
- W2150876546 hasPublicationYear "2015" @default.
- W2150876546 type Work @default.
- W2150876546 sameAs 2150876546 @default.
- W2150876546 citedByCount "64" @default.
- W2150876546 countsByYear W21508765462014 @default.
- W2150876546 countsByYear W21508765462015 @default.
- W2150876546 countsByYear W21508765462016 @default.
- W2150876546 countsByYear W21508765462017 @default.
- W2150876546 countsByYear W21508765462018 @default.
- W2150876546 countsByYear W21508765462019 @default.
- W2150876546 countsByYear W21508765462020 @default.
- W2150876546 countsByYear W21508765462021 @default.
- W2150876546 countsByYear W21508765462022 @default.
- W2150876546 countsByYear W21508765462023 @default.
- W2150876546 crossrefType "journal-article" @default.
- W2150876546 hasAuthorship W2150876546A5035745972 @default.
- W2150876546 hasAuthorship W2150876546A5036620569 @default.
- W2150876546 hasBestOaLocation W21508765462 @default.
- W2150876546 hasConcept C10138342 @default.
- W2150876546 hasConcept C119857082 @default.
- W2150876546 hasConcept C126322002 @default.
- W2150876546 hasConcept C127413603 @default.
- W2150876546 hasConcept C139719470 @default.
- W2150876546 hasConcept C144133560 @default.
- W2150876546 hasConcept C150566966 @default.
- W2150876546 hasConcept C151730666 @default.
- W2150876546 hasConcept C158016649 @default.
- W2150876546 hasConcept C162324750 @default.
- W2150876546 hasConcept C175444787 @default.
- W2150876546 hasConcept C204036174 @default.
- W2150876546 hasConcept C204983608 @default.
- W2150876546 hasConcept C2776291640 @default.
- W2150876546 hasConcept C2778348673 @default.
- W2150876546 hasConcept C2780299701 @default.
- W2150876546 hasConcept C2780762169 @default.
- W2150876546 hasConcept C2781300812 @default.
- W2150876546 hasConcept C33842695 @default.
- W2150876546 hasConcept C41008148 @default.
- W2150876546 hasConcept C556758197 @default.
- W2150876546 hasConcept C71924100 @default.