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- Publisher Website: 10.1016/j.jdeveco.2022.102979
- WOS: WOS:000875240500001
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Article: Trade-induced competition and ownership dynamics
Title | Trade-induced competition and ownership dynamics |
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Authors | |
Issue Date | 2023 |
Citation | Journal of Development Economics, 2023, v. 160, p. 102979 How to Cite? |
Abstract | This paper documents a causal effect of trade-induced competition on firms’ ownership dynamics using the largest trade liberalization China has experienced, its accession to the World Trade Organization. By exploiting varying degrees of tariff reductions across industries, we find that firms that are more affected by competitive shocks experience a larger relative increase in their foreign ownership compared with those less affected. In addition, we find a stronger (weaker) effect for firms with a greater (lesser) demand for external financing and technology, which indicates the strategic role of foreign shareholders in empowering domestic firms to obtain financing and new technologies in a competitive market. |
Persistent Identifier | http://hdl.handle.net/10722/322141 |
ISI Accession Number ID |
DC Field | Value | Language |
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dc.contributor.author | Hu, Q | - |
dc.contributor.author | Li, W | - |
dc.contributor.author | Lin, C | - |
dc.contributor.author | Wei, L | - |
dc.date.accessioned | 2022-11-14T08:15:07Z | - |
dc.date.available | 2022-11-14T08:15:07Z | - |
dc.date.issued | 2023 | - |
dc.identifier.citation | Journal of Development Economics, 2023, v. 160, p. 102979 | - |
dc.identifier.uri | http://hdl.handle.net/10722/322141 | - |
dc.description.abstract | This paper documents a causal effect of trade-induced competition on firms’ ownership dynamics using the largest trade liberalization China has experienced, its accession to the World Trade Organization. By exploiting varying degrees of tariff reductions across industries, we find that firms that are more affected by competitive shocks experience a larger relative increase in their foreign ownership compared with those less affected. In addition, we find a stronger (weaker) effect for firms with a greater (lesser) demand for external financing and technology, which indicates the strategic role of foreign shareholders in empowering domestic firms to obtain financing and new technologies in a competitive market. | - |
dc.language | eng | - |
dc.relation.ispartof | Journal of Development Economics | - |
dc.title | Trade-induced competition and ownership dynamics | - |
dc.type | Article | - |
dc.identifier.email | Lin, C: chenlin1@hku.hk | - |
dc.identifier.authority | Lin, C=rp01808 | - |
dc.identifier.doi | 10.1016/j.jdeveco.2022.102979 | - |
dc.identifier.hkuros | 342101 | - |
dc.identifier.volume | 160 | - |
dc.identifier.spage | 102979 | - |
dc.identifier.epage | 102979 | - |
dc.identifier.isi | WOS:000875240500001 | - |