Bitte verwenden Sie diesen Link, um diese Publikation zu zitieren, oder auf sie als Internetquelle zu verweisen: https://hdl.handle.net/10419/90628 
Erscheinungsjahr: 
2014
Schriftenreihe/Nr.: 
Kiel Working Paper No. 1894
Verlag: 
Kiel Institute for the World Economy (IfW), Kiel
Zusammenfassung: 
We investigate the financial implications of a multinational firm's choice between outsourcing and integration from the perspective of the supplier. Using a simple model, we explore the extent to which an integrated supplier's access to finance, as well as its sources of funding, change relative to a firm supplying a multinational at arm's-length. The model predicts that integrated firms have better access to finance and cover a larger share of their costs using internal funds. Furthermore, improvements in a host country's level of financial development have less of an impact on the financial situation of integrated suppliers. We present empirical evidence from firm-level data for over 60 countries broadly supporting the predictions.
Schlagwörter: 
Vertical Integration
Financial Constraints
Multinational companies
JEL: 
F23
G32
Dokumentart: 
Working Paper

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