FDI and Domestic Investment: An Industry-Level View

Previous empirical work on the link between domestic and foreign investment provides mixed results which partly depend on the level of aggregation of the data. We argue that the aggregated home country implications of foreign direct investment (FDI) cannot be gauged using firm-level data. Aggregated data, in turn, miss channels through which domestic and foreign activities interact. Instead, industry-level data provide useful information on the link between domestic and foreign investment. We theoretically show that the effects of FDI on the domestic capital stock depend on the structure of industries and the relative importance of domestic and multinational firms. Our model allows distinguishing intra-sector competition from inter-sector linkage effects. We test the model using data on German FDI. Using panel cointegration methods, we find evidence for a positive long-run impact of FDI on the domestic capital stock and on the stock of inward FDI. Effects of FDI on the domestic capital stock are driven mainly by intrasector effects. For inward FDI, inter-sector linkages matter as well

Barriers to exporting: Firm-Level Evidence from Germany

Recent literature stresses the importance of low productivity as a barrier to the international expansion of firms. But financial frictions or adverse employment conditions at home could matter as well. In this paper, we present new empirical evidence on the importance of these factors. We use a detailed micro-level dataset of German firms which simultaneously provides information on exports, financial frictions, and labor market conditions. Our paper has three main findings. First, in line with earlier literature, we find a positive impact of size and productivity on firms’ export activities. Second, financial constraints affect the entry into foreign market (extensive margin) more than the volume of exports (intensive margin). Third, labor market conditions have a mixed impact on export activities. The most consistent finding is that firms covered by collective bargaining agreements are less likely to be exporters and export less.multinational firms, exports, firm heterogeneity, productivity

FDI and Domestic Investment: An Industry-Level View

Previous empirical work on the link between domestic and foreign investment provides mixed results which partly depend on the level of aggregation of the data. We argue that the aggregated home country implications of foreign direct investment (FDI) cannot be gauged using firm-level data. Aggregated data, in turn, miss channels through which domestic and foreign activities interact. Instead, industry-level data provide useful information on the link between domestic and foreign investment. We theoretically show that the effects of FDI on the domestic capital stock depend on the structure of industries and the relative importance of domestic and multinational firms. Our model allows distinguishing intra-sector competition from inter-sector linkage effects. We test the model using data on German FDI. Using panel cointegration methods, we find evidence for a positive long-run impact of FDI on the domestic capital stock and on the stock of inward FDI. Effects of FDI on the domestic capital stock are driven mainly by intrasector effects. For inward FDI, inter-sector linkages matter as well.foreign direct investment; domestic capital stock

Firm-Specific Factor Market Constraints and FDI: Evidence from Germany

Firms that invest abroad are large and more productive than their domestic counterparts. But to what extent are the international activities of firms also driven by differences across firms in terms of their access to external finance and the labor market conditions that there are facing? In this paper, we present new empirical evidence based on a detailed micro-level dataset of German firms. Our paper has three main findings regarding the firm-level determinants of FDI. First, in line with earlier literature, we find a positive impact of size, productivity, and R&D activity on firms’ FDI activity. Second, labor market conditions have a mixed impact on FDI. Personnel shortage tends to have a significantly positive impact on the probability to invest abroad, whereas wage cost problems and the existence of collective bargaining agreements have a negative effect. Third, financial constraints have a mixed impact as well. While self-reported financial constraints do not significantly affect FDI activity, cash flow has a positive impact.multinational firms, firm heterogeneity, productivity, financial constraints, labor market constraints

Barriers to internationalization: Firm-level evidence from Germany

Exporters and multinationals are larger and more productive than their domestic counterparts. In addition to productivity, financial constraints and labor market constraints might constitute barriers to entry into foreign markets. We present new empirical evidence on the extensive and intensive margin of exports and FDI based on detailed micro-level data of German firms. Our paper has three main findings. First, in line with earlier literature, we find a positive impact of firm size and productivity on firms' international activities. Second, small firms suffer more frequently from financial constraints than bigger firms, but financial conditions have no strong effect on internationalization. Third, labor market constraints constitute a more severe barrier to foreign activities than financial constraints. Being covered by collective bargaining particularly impedes international activities

Nocturnal activity as a useful indicator of adaptability of dogs in an animal shelter and after subsequent adoption

Dogs in shelters are faced with the challenge of adapting to a kennel after relinquishment and to a novel home after adoption. To measure adaptability of dogs, more feasible behavioural and physiological parameters need to be validated in different contexts. To evaluate nocturnal activity as an indicator of adaptability, we compared nocturnal activity, urinary cortisol:creatinine ratio (UCCR), and body weight changes of sheltered dogs the first period after intake in the shelter and after adoption. Nocturnal activity and UCCRs were significantly lower the first days after adoption than in the shelter. After adoption, nocturnal activity was significantly lower on night 2 than night 1, but not on night 3 and 4, suggesting a form of ‘rebound of resting’ during night 2 in the new home. UCCRs significantly decreased 7 days after adoption. Body weight decreased in the shelter but increased again after adoption. These findings suggest that overall, dogs rest better in a novel home than in a novel shelter but, in both contexts, some form of adaptation takes place. Nocturnal activity measured by an accelerometer differentiated well between shelter and home environments, and corresponded to UCCR responses, which supports usefulness of the method to monitor canine adaptability to novel environments

Mononuclear and dinuclear heteroleptic Cu(I) complexes based on pyridyl-triazole and DPEPhos with long-lived excited-state lifetimes

A mononuclear and two dinuclear heteroleptic Cu(I) complexes have been successfully prepared, using the chelating bis [(2-diphenylphosphino)phenyl] ether (DPEPhos) and pyrid-2'-yl-1H-1,2,3-triazole as chelating ligands. They show good luminescence in solution at room temperature with long-lived excited states. Furthermore, bimolecular quenching experiments of these new complexes with the catalyst Ni(cyclam)Cl-2 encourage the use of such compounds as photosensitizers for the photoreduction of carbon dioxide. (C) 2018 Elsevier B.V. All rights reserved.Peer reviewe

Region-specific emission factors for Brazil increase the estimate of nitrous oxide emissions from nitrogen fertiliser application by 21%

The use of synthetic nitrogen fertilisers is one of the most important land management practices proposed to improve crop and pasture productivity. The use of such fertilisers in excess can lead to greenhouse gas (GHG) emissions, linked to climate change, as well as ammonia (NH3) emissions, linked to eutrophication and soil acidification.. This context is especially important in Brazil, which is responsible for a significant share of the food produced in the world. To assess the impact of the use of nitrogen fertilisers, we conducted a structured review of Brazilian studies on the emission of nitrous oxide (N2O; 11 studies) and ammonia volatilisation (NH3; 13 studies) from nitrogen fertiliser application. The current emission factors (EF) suggested by the IPCC for N2O and NH3 (1 and 11%, respectively) are lower than the mean values we found in our review (1.12 and 19%, respectively). Our results showed that non-urea fertilisers (ammonium nitrate or ammonium sulphate) had a lower emission factor (EF) for N2O (1.07 and 0.60%, respectively) and NH3 (3.17 and 14%, respectively) in comparison with urea. The use of nitrification and urease inhibitors resulted in a reduction of the EFs of N2O (74% lower) and NH3 (43% lower) when compared with the Urea EF. Urea is the most common fertiliser used in Brazil, and the change for non-urea fertilisers or the use of inhibitors could lead to a reduction of 23% in the total N2O inventory. The use of the new region-specific EFs results in an increase of 21% in the final N2O emission inventory