GTAP Resources: Resource Display
| GTAP Resource #585 |
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"Exports and Foreign Direct Investment Accelerate Corporate Reforms: Evidence from the Japanese Micro Data" by Kimura, Fukunari and Kozo Kiyota Abstract This paper investigates the relationship between foreign exposure of firms and corporate performance by using the Japanese micro/panel data for the year of 1994 to 1997 at the firm level. We find that firms with exports or affiliates abroad in 1994 F/Y tend to perform better than firms without in the period between 1994 F/Y and 1997 F/Y in terms of per capita sales and operating surplus. The lower growth rate in employment of firms with foreign exposure suggests that they are more successful in corporate restructuring in the distress period of the Japanese economy. We also examine what sort of corporate characteristics allows firms to conduct exports and foreign direct investment. Econometric analysis provide similar results to previous studies in cases of U.S. firms and others; good firms conduct exports and/or investment abroad, and the prior experience in conducting exports or being multinational enterprises generates incumbent effects. |
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- Asia (East) |
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Last Modified: 9/15/2023 2:05:45 PM
