• Publications
  • Influence
Do Stronger Intellectual Property Rights Increase International Technology Transfer? Empirical Evidence from U.S. Firm-Level Panel Data
One of the alleged benefits of the recent global movement to strengthen intellectual property rights (IPRs) is that such reforms accelerate transfers of technology between countries. The paperExpand
  • 687
  • 68
  • PDF
Why Do Firms Hold so Much Cash? A Tax-Based Explanation
U.S. corporations hold significant amounts of cash on their balance sheets, and these cash holdings have been justified in the existing empirical literature by transaction costs and precautionaryExpand
  • 679
  • 67
  • PDF
Poultry in Motion: A Study of International Trade Finance Practices
This paper analyzes the financing terms that support international trade and sheds light on how and why these arrangements affect trade. Using detailed transaction level data from a U.S. basedExpand
  • 265
  • 49
  • PDF
The Demand for Tax Haven Operations
What types of firms establish tax haven operations, and what purposes do these operations serve? Analysis of affiliate-level data for American firms indicates that larger, more international firms,Expand
  • 466
  • 48
  • PDF
Domestic Effects of the Foreign Activities of US Multinationals
Do firms investing abroad simultaneously reduce their domestic activity? This paper analyzes the relationship between the domestic and foreign operations of US manufacturing firms between 1982 andExpand
  • 207
  • 28
  • PDF
Watch What I Do, Not What I Say: the Unintended Consequences of the Homeland Investment Act
This paper analyzes the impact on firm behavior of the Homeland Investment Act of 2004, which provided a one-time tax holiday for the repatriation of foreign earnings by U.S. multinationals. TheExpand
  • 186
  • 27
  • PDF
Do Tax Havens Divert Economic Activity
When multinational firms expand their operations in tax havens, do they divert activity from non-havens? Much of the debate on tax competition presumes that the answer to this question is yes. ThisExpand
  • 167
  • 23
  • PDF
The costs of shared ownership: Evidence from international joint ventures
This paper analyzes the determinants of partial ownership of the foreign affiliates of U.S. multinational firms and, in particular, the marked decline in the use of joint ventures over the last 20Expand
  • 222
  • 21
  • PDF
Does intellectual property rights reform spur industrial development
An extensive theoretical literature generates ambiguous predictions concerning the effects of intellectual property rights (IPR) reform on industrial development. The impact depends on whetherExpand
  • 136
  • 12
  • PDF
Multinationals as Arbitrageurs: The Effect of Valuations on Foreign Direct Investment
Empirical evidence of imperfect integration across world capital markets suggests a role for cross-border arbitrage by multinationals. Consistent with multinational arbitrage as a determinant ofExpand
  • 138
  • 11
  • PDF