Haku
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Does bilateral investment treaty arbitration have any value for multinational corporations?
(22.04.2020)
BOFIT Discussion Papers 10/2020
BOFIT Discussion Papers 10/2020
Using event study methodology, we investigate whether bilateral investment protection treaties afford protection to foreign investors. Examining arbitral decisions for firms from six countries shows that firms that received ...
Managerial and financial barriers to the net-zero transition
(17.05.2021)
BOFIT Discussion Papers 6/2021
BOFIT Discussion Papers 6/2021
We use data on 11,233 firms across 22 emerging markets to analyze how credit constraints and low-quality firm management inhibit corporate investment in green technologies. For identification we exploit quasi-exogenous ...
The effect of the China Connect
(03.02.2020)
BOFIT Discussion Papers 1/2020
BOFIT Discussion Papers 1/2020
We document the effect on Chinese firms of the Shanghai (Shenzhen)-Hong Kong Stock Connect. The Connect was an important capital account liberalization introduced in the mid-2010s. It created a channel for cross-border ...
Corporate investment and the exchange rate : The financial channel
(27.02.2020)
BOFIT Discussion Papers 6/2020
BOFIT Discussion Papers 6/2020
Using firm-level data for 18 major global economies, we find that the exchange rate affects corporate investment through a financial channel: exchange rate depreciation dampens corporate investment through firm leverage ...