Horizontal and Vertical Interdependence in the Multinational Subsidiary Networks. ACES Working Paper No. 7, July 2008

Existing theoretical studies have predicted that a multinational firm's location choices are interdependent across countries. Little has, however, been done to test the hypothesis at individual subsidiary level. This paper uses a detailed French multinational subsidiary dataset and estimates how a firm's decision to invest in a foreign country is not only conditional on the characteristics of that country but also the firm's existing subsidiary network Using a structural spatial econometric model, the paper finds evidence of both horizontal and vertical interdependence in multinationals' location decisions. The results indicate that while multinational firms have little incentive to duplicate their production in countries with low bilateral trade costs, they are motivated to build a vertical subsidiary network in these countries ~ especially when the countries have complementary comparative advantages.

Executives as Agents: Expatriate managers in subsidiaries of multinational banks. ACES Working Papers, June 2012

Performance and behavior between domestic and foreign-owned banks are grounded in assumptions about the ability of parent banks to provide subsidiaries with capital and knowledge and to manage asymmetric information and agency problems in the parent-subsidiary relationship. We complement research on internal capital markets and investigate how foreign owners of banks in emerging markets use their power to appoint executives at their subsidiaries to manage agency problems in the parent-subsidiary relationship. We find that perceived corruption and poor ICRG risk scores are associated with the appointment of parent-country executives as supervisors on behalf of the foreign owner. By contrast, a focus on retail clients, the absence of organizational routines and poor creditor rights are associated with the appointment of host-country executives. These bank and country characteristics create agency problems within the subsidiary, but not necessarily between the subsidiary and its parent. As such, they create a need for host-country executives’ superior knowledge of local markets and staff rather than for the supervisory role of parent-country executives.

Managing atypical and typical herpetic central nervous system infections: results of a multinational study

There have been many studies pertaining to the management of herpetic meningoencephalitis (HME), but the majority of them have focussed on virologically unconfirmed cases or included only small sample sizes. We have conducted a multicentre study aimed at providing management strategies for HME. Overall, 501 adult patients with PCR-proven HME were included retrospectively from 35 referral centres in 10 countries; 496 patients were found to be eligible for the analysis. Cerebrospinal fluid (CSF) analysis using a PCR assay yielded herpes simplex virus (HSV)-1 DNA in 351 patients (70.8%), HSV-2 DNA in 83 patients (16.7%) and undefined HSV DNA type in 62 patients (12.5%). A total of 379 patients (76.4%) had at least one of the specified characteristics of encephalitis, and we placed these patients into the encephalitis presentation group. The remaining 117 patients (23.6%) had none of these findings, and these patients were placed in the nonencephalitis presentation group. Abnormalities suggestive of encephalitis were detected in magnetic resonance imaging (MRI) in 83.9% of the patients and in electroencephalography (EEG) in 91.0% of patients in the encephalitis presentation group. In the nonencephalitis presentation group, MRI and EEG data were suggestive of encephalitis in 33.3 and 61.9% of patients, respectively. However, the concomitant use of MRI and EEG indicated encephalitis in 96.3 and 87.5% of the cases with and without encephalitic clinical presentation, respectively. Considering the subtle nature of HME, CSF HSV PCR, EEG and MRI data should be collected for all patients with a central nervous system infection.

Guanchias Limitada : a case study of an agrarian reform cooperative and its long-term relationship with a multinational firm in Honduras /

"PN-AAL-046"--Cover.

Multinational corporations in Brazil and Mexico : structural sources of economic and noneconomic power : report to the Subcommittee on Multinational Corporations of the Committee on Foreign Relations, United States Senate /

Mode of access: Internet.

The breakdown of IRS tax enforcement regarding multinational corporations : revenue losses, excessive litigation, and unfair burdens for U.S. producers : hearing before the Committee on Governmental Affairs, United States Senate, One Hundred Third Congress, first session, March 25, 1993.

Shipping list no.: 93-0404-P.