G2TT
来源类型Discussion paper
规范类型论文
来源IDDP6953
DP6953 Investment Banks as Insiders and the Market for Corporate Control
Massimo Massa; Andrei Simonov; Andriy Bodnaruk
发表日期2008-09-23
出版年2008
语种英语
摘要We develop a theory of multiproduct firms to analyze the effects of globalization on the distributions of firm size, scope, and productivity. In the model, firms are heterogeneous in how well they cope with expanding their product range. The model generates a negative relationship between firm size and market-to-book ratio, thus explaining the "size-discount puzzle" found in the data. Globalization induces a merger wave that leads to an improvement in average productivity. This improvement is not due to selection effects but rather due to product-level productivity effects. The model predicts that globalization leads to a flattening of the size distribution of firms.
主题International Trade and Regional Economics
关键词Firm heterogeneity Firm size distribution Merger wave Multiproduct firms Productivity Size discount Trade liberalization
URLhttps://cepr.org/publications/dp6953
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/535790
推荐引用方式
GB/T 7714
Massimo Massa,Andrei Simonov,Andriy Bodnaruk. DP6953 Investment Banks as Insiders and the Market for Corporate Control. 2008.
条目包含的文件
条目无相关文件。
个性服务
推荐该条目
保存到收藏夹
导出为Endnote文件
谷歌学术
谷歌学术中相似的文章
[Massimo Massa]的文章
[Andrei Simonov]的文章
[Andriy Bodnaruk]的文章
百度学术
百度学术中相似的文章
[Massimo Massa]的文章
[Andrei Simonov]的文章
[Andriy Bodnaruk]的文章
必应学术
必应学术中相似的文章
[Massimo Massa]的文章
[Andrei Simonov]的文章
[Andriy Bodnaruk]的文章
相关权益政策
暂无数据
收藏/分享

除非特别说明,本系统中所有内容都受版权保护,并保留所有权利。