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  • May 1999 (Revised July 1999)
  • Background Note

Global Friction Among Information Infrastructures

By: George C. Lodge and Cate Reavis
Examines the conflicts in international communications that result from changing technologies and divergent country policies toward developing infrastructures. Examines a number of different national information infrastructures (NIIs). Points of friction, such as... View Details
Keywords: Conflict Management; Infrastructure; Communication Technology; Cross-Cultural and Cross-Border Issues
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  • March 2014
  • Article

Information Environment and the Investment Decisions of Multinational Corporations

By: Nemit O. Shroff, Rodrigo S. Verdi and Gwen Yu
This paper examines how the external information environment in which foreign subsidiaries operate affects the investment decisions of multinational corporations (MNCs). We hypothesize and find that the investment decisions of foreign subsidiaries in country-industries... View Details
Keywords: Capital Budgeting; Multinational Firms; Cross-border Frictions; Agency Frictions; Transparency; Financial Reporting Quality; Information Quality; Information; Multinational Firms and Management; Decision Choices and Conditions; Investment
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  • March 2022 (Revised May 2022)
  • Case

Reclaiming the Land of Purple: Purpl’s Mission to Unlock Finance in Lebanon

By: Lauren Cohen and Grace Headinger
Karl Naim, Co-Founder and CEO of Purpl, embarked on a venture to lower remittance costs for his native Lebanon. Since October 2019, the Lebanese economy had entered a free fall as its banking sector collapsed and large swathes of its population were plunged into... View Details
Keywords: Business Startup; Fintech; Inflation; Deflation; Cross-border Frictions; Remittances; Business Startups; Diasporas; Financial Crisis; Money; Entrepreneurship; Cross-Cultural and Cross-Border Issues; Poverty; Financial Institutions; Banking Industry; Financial Services Industry; Technology Industry; Lebanon
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  • 2021
  • Working Paper

The Effects of Temporal Distance on Intra-Firm Communication: Evidence from Daylight Savings Time

By: Jasmina Chauvin, Prithwiraj Choudhury and Tommy Pan Fang
Cross-border communication costs have plummeted and enabled the global distribution of work, but frictions attributable to distance persist. We estimate the causal effects of temporal distance, i.e., time zone separation between employees, on intra-firm communication,... View Details
Keywords: Communication Patterns; Time Zones; Geographic Frictions; Knowledge Workers; Multinational Companies; Communication; Multinational Firms and Management; Geographic Location
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    Doing What the Parents Want?

    We examine how the external information environment in which foreign subsidiaries operate affects the investment decisions of multinational corporations (MNCs). We hypothesize and find that the investment decisions of foreign subsidiaries in country-industries with... View Details

    • 02 Sep 2014
    • News

    What’s Your Language Strategy?

    • 2018
    • Chapter

    Transportation Cost and the Geography of Foreign Investment

    By: Laura Alfaro and Maggie Chen
    Falling transportation costs and rapid technological progress in recent decades have precipitated an explosion of cross-border flows in goods, services, investments, and ideas led by multinational firms. Extensive research has sought to understand the geographic... View Details
    Keywords: Foreign Direct Investment; Cost; Transportation; Geographic Scope; Geographic Location
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    • 09 Dec 2013
    • Research & Ideas

    Cultural Disharmony Undermines Workplace Creativity

    in different environments, or by encouraging them to work side by side to observe how cultural differences can influence work habits. Managing cultural friction in this way might not only help create a more harmonious workplace overall,... View Details
    Keywords: by Michael Blanding
    • 02 Dec 2014
    • Working Paper Summaries

    International Trade, Multinational Activity, and Corporate Finance

    Keywords: by C. Fritz Foley & Kalina Manova
    • 30 Sep 2008
    • First Look

    First Look: September 30, 2008

    Multinational Firms, FDI Flows and Imperfect Capital Markets Authors:Pol Antras, Mihir Desai, and C. Fritz Foley Publication:Quarterly Journal of Economics (forthcoming) Abstract This paper examines how costly financial contracting and weak investor protection... View Details
    Keywords: Martha Lagace
    • Web

    Students on the Job Market - Doctoral

    asymmetry manifests in analysts’ forecasts, stock returns on earnings announcement days, and even in the tone that analysts adopt in earnings conference calls. I argue these patterns have a common origin in frictions in the communication... View Details
    • Web

    Behavioral Finance & Financial Stability

    prices. The authors use arbitrage activity in equity, fixed income, and foreign exchange markets to characterize the frictions and constraints facing intermediaries. They show that at least two types of segmentation drive arbitrage... View Details
    • Web

    Research - Behavioral Finance & Financial Stability

    Info Segmented Arbitrage By: Adi Sunderam , Emil Siriwardane & Jonathan Wallen NOV 2021 Financial intermediaries play a key role in determining asset prices. The authors use arbitrage activity in equity, fixed income, and foreign exchange markets to characterize the... View Details
    • 22 Jan 2019
    • First Look

    New Research and Ideas, January 22, 2019

    mandated language change at a Chilean subsidiary of a large U.S. multinational organization. The engineering-focused subsidiary aiming to facilitate cross-border interactions embedded language acquisition experts to transition all... View Details
    Keywords: Dina Gerdeman
    • 13 Feb 2007
    • First Look

    First Look: February 13, 2007

    A. Desai, and C. Fritz Foley Abstract This paper examines how costly financial contracting and weak investor protection influence the cross-border operational, financing and investment decisions of firms. We develop a model in which... View Details
    Keywords: Martha Lagace
    • 17 Jan 2017
    • First Look

    First Look at New Research: January 17

    forthcoming Handbook of International Trade and Transportation Transportation Cost and the Geography of Foreign Investment By: Alfaro, Laura, and Maggie Chen Abstract—Falling transportation costs and rapid technological progress in recent decades have precipitated an... View Details
    Keywords: Sean Silverthorne
    • 08 Oct 2013
    • First Look

    First Look: October 8

    environments. Further, this effect is larger when (i) there are greater cross-border frictions between the parent and subsidiary and (ii) the parents are relatively more involved in their subsidiaries'... View Details
    Keywords: Sean Silverthorne
    • Web

    Print View - Course Catalog

    cross-border aspects. Of the cases, exercises, videos, and significant examples in the course, roughly a third could be classified in a mainly business/financial/entrepreneurial category, a third could be classified in a mainly... View Details