The Resource Does trade globalization induce or inhibit corporate transparency? : unbundling the growth potential and product market competition channels, Hui Tong, Shang-Jin Wei, (electronic resource)

Does trade globalization induce or inhibit corporate transparency? : unbundling the growth potential and product market competition channels, Hui Tong, Shang-Jin Wei, (electronic resource)

Label
Does trade globalization induce or inhibit corporate transparency? : unbundling the growth potential and product market competition channels
Title
Does trade globalization induce or inhibit corporate transparency?
Title remainder
unbundling the growth potential and product market competition channels
Statement of responsibility
Hui Tong, Shang-Jin Wei
Creator
Contributor
Author
Subject
Language
eng
Summary
How does increasing globalization affect corporate transparency? Freer trade represents two facets and in theory has ambiguous effects on corporate transparency. On the one hand, by exposing firms to more product market competition, it could discourage discretionary disclosure. On the other hand, by opening up foreign markets and enhancing firms' growth opportunities, it may promote more transparency. Rather than simply estimating a net effect, this paper pursues an approach that allows separate estimation of the two potentially opposing channels. We employ three different measures of corporate transparency and track their evolutions for 4061 firms in 49 countries during 1992-2005. By using detailed product-level tariff schedules for these countries, we construct a measure of growth opportunities enabled by foreign tariff liberalizations at the sector-country-year level, and a second measure of globalization-induced product market competition based on a country's own tariff liberalization (again at the sector--country-year level). We find strong evidence that higher growth opportunities engendered by globalization promotes corporate transparency, especially in industries that depend heavily on external financing. At the same time, we find somewhat weaker evidence that greater product market competition engendered by globalization discourages corporate transparency. The results demonstrate the importance of disentangling the multiple and potentially conflicting effects of globalization
Member of
Cataloging source
IT-FiEUI
http://library.link/vocab/creatorName
Tong, Hui
Illustrations
illustrations
Index
no index present
Literary form
non fiction
Nature of contents
bibliography
http://library.link/vocab/relatedWorkOrContributorName
  • Wei, Shang-Jin
  • Centre for Economic Policy Research (Great Britain)
Series statement
Discussion paper / Centre for Economic Policy Research
Series volume
no. 8836
http://library.link/vocab/subjectName
  • Corporate governance
  • Transparency in government
  • Free trade
  • Globalization
Label
Does trade globalization induce or inhibit corporate transparency? : unbundling the growth potential and product market competition channels, Hui Tong, Shang-Jin Wei, (electronic resource)
Link
http://www.cepr.org.ezproxy.eui.eu/content/discussion-papers
Instantiates
Publication
Note
"February 2012"
Bibliography note
Includes bibliographical references
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier.
Color
mixed
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent.
Control code
FIEb17447811
Dimensions
unknown
Extent
55 pages
Media category
computer
Media MARC source
rdamedia.
Media type code
  • c
Other physical details
illustrations.
Specific material designation
remote
System control number
(OCoLC)881359902
Label
Does trade globalization induce or inhibit corporate transparency? : unbundling the growth potential and product market competition channels, Hui Tong, Shang-Jin Wei, (electronic resource)
Link
http://www.cepr.org.ezproxy.eui.eu/content/discussion-papers
Publication
Note
"February 2012"
Bibliography note
Includes bibliographical references
Carrier category
online resource
Carrier category code
  • cr
Carrier MARC source
rdacarrier.
Color
mixed
Content category
text
Content type code
  • txt
Content type MARC source
rdacontent.
Control code
FIEb17447811
Dimensions
unknown
Extent
55 pages
Media category
computer
Media MARC source
rdamedia.
Media type code
  • c
Other physical details
illustrations.
Specific material designation
remote
System control number
(OCoLC)881359902

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