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)
Resource Information
The item Does trade globalization induce or inhibit corporate transparency? : unbundling the growth potential and product market competition channels, Hui Tong, Shang-Jin Wei, (electronic resource) represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in European University Institute.This item is available to borrow from 1 library branch.
Resource Information
The item Does trade globalization induce or inhibit corporate transparency? : unbundling the growth potential and product market competition channels, Hui Tong, Shang-Jin Wei, (electronic resource) represents a specific, individual, material embodiment of a distinct intellectual or artistic creation found in European University Institute.
This item is available to borrow from 1 library branch.
- 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
- Language
- eng
- Extent
- 55 pages
- Note
- "February 2012"
- 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
- 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
- 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)
- 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)
- 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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<div class="citation" vocab="http://schema.org/"><i class="fa fa-external-link-square fa-fw"></i> Data from <span resource="http://link.library.eui.eu/portal/Does-trade-globalization-induce-or-inhibit/-4J_8ad2hSU/" typeof="Book http://bibfra.me/vocab/lite/Item"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.library.eui.eu/portal/Does-trade-globalization-induce-or-inhibit/-4J_8ad2hSU/">Does trade globalization induce or inhibit corporate transparency? : unbundling the growth potential and product market competition channels, Hui Tong, Shang-Jin Wei, (electronic resource)</a></span> - <span property="potentialAction" typeOf="OrganizeAction"><span property="agent" typeof="LibrarySystem http://library.link/vocab/LibrarySystem" resource="http://link.library.eui.eu/"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="http://link.library.eui.eu/">European University Institute</a></span></span></span></span></div>
