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  1. Political sentiment and syndicated loan borrowing costs of multinational enterprises
    Erschienen: [2020]
    Verlag:  [Adam Smith Business School], [Glasgow]

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    Schriftenreihe: Working paper series / University of Glasgow, Adam Smith Business School ; paper no. 2020, 29 (December 2020)
    Schlagworte: political sentiment; syndicated loans; multinationals; international diversification
    Umfang: 1 Online-Ressource (circa 49 Seiten)
  2. Smile curves in global value chains
    multinationals vs domestic firms : the U.S. vs China
    Autor*in: Meng, Bo; Ye, Ming
    Erschienen: [2020]
    Verlag:  Institute of Developing Economies (IDE), JETRO, Chiba, Japan

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    hdl: 2344/00051910
    Schriftenreihe: IDE discussion paper ; no. 802
    Schlagworte: smile curve; multinationals; global value chain; trade in value-added; industrial upgrading; ICT
    Umfang: 1 Online-Ressource (circa 30 Seiten), Illustrationen
  3. Organizational capacity and profit shifting
    Erschienen: [2021]
    Verlag:  Centre for Economic Performance, London School of Economics and Political Science, London

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    Schriftenreihe: Discussion paper / Centre for Economic Performance ; no. 1795 (September 2021)
    Schlagworte: profit shifting; organizational capacity; monitoring practices; multinationals
    Umfang: 1 Online-Ressource (circa 65 Seiten), Illustrationen
  4. Labour security and agency within the Orange Juice Value Chain (OJVC) in Brazil
    Erschienen: March 2021
    Verlag:  Institute of Social Studies, Erasmus, The Hague, The Netherlands

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    Schriftenreihe: Working paper / Institute of Social Studies ; no. 672
    Schlagworte: Oranges; GVCs; Brazil; labour; unions; multinationals; logistics
    Umfang: 1 Online-Ressource (circa 31 Seiten), Illustrationen
  5. How does profit shifting affect the balance of payments?
    Erschienen: February 2021
    Verlag:  International Monetary Fund, [Washington, DC]

    Profit shifting by multinational enterprises-through manipulation of transfer prices of related-party trade, intragroup lending, or the location of intangibles-affects international flows, raising the question of its impact on the current account and... mehr

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    Profit shifting by multinational enterprises-through manipulation of transfer prices of related-party trade, intragroup lending, or the location of intangibles-affects international flows, raising the question of its impact on the current account and external balances. This paper approaches this question theoretically and empirically. In theory, profit shifting distorts the components of the current account and bilateral current account balances but leaves a country's aggregate net balance unaffected. There is, however, a real effect on current account balances, because taxes are paid to different jurisdictions. Moreover-in practice-the measured current account could change, because not all transactions are equally easy to track. Our panel empirical results broadly confirm that the current account balance tends to be, on average, unaffected by profit shifting, but taking heterogeneity into account we find that both the real tax effect and mismeasurement strengthen income balances-and thus the current account-in investment hubs

     

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    ISBN: 9781513569994
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    Schriftenreihe: IMF working paper ; WP/21, 41
    Schlagworte: Balance of payments; current account; multinationals; profit shifting; tax avoidance
    Umfang: 1 Online-Ressource (circa 29 Seiten), Illustrationen
  6. Royalty taxation under profit shifting and competition for FDI
    Erschienen: September 2020
    Verlag:  Norwegian School of Economics, Bergen

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    Weitere Identifier:
    hdl: 11250/2677117
    Schriftenreihe: Discussion paper / Department of Business and Management Science ; FOR 2020, 11
    Schlagworte: source tax on royalties; foreign direct investment; multinationals; profit shifting; internal debt; EU Interest and Royalty Directive
    Umfang: 1 Online-Ressource (circa 53 Seiten)
  7. Assessing profit shifting using Country-by-Country Reports
    a non-linear response to tax rate differentials
    Erschienen: June 2021
    Verlag:  [University of Oxford, Sai͏̈d Business School, Centre for Business Taxation], [Oxford]

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    Schriftenreihe: Working paper / University of Oxford, Sai͏̈d Business School, Centre for Business Taxation ; 2021, 03
    Schlagworte: Profit shifting; BEPS; International taxation; corporate income tax; multinationals; country-by-country reporting
    Umfang: 1 Online-Ressource (circa 81 Seiten), Illustrationen
  8. Corporate taxation in open economies
    Autor*in: Šauer, Radek
    Erschienen: September 2022
    Verlag:  CESifo, Center for Economic Studies & Ifo Institute, Munich, Germany

    This paper analyzes the macroeconomic impact of corporate taxation. The analysis is conducted in a quantitative two-country model. In the first step, the paper describes the long-run effects of corporate taxation. A reduction in the corporate-income... mehr

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    This paper analyzes the macroeconomic impact of corporate taxation. The analysis is conducted in a quantitative two-country model. In the first step, the paper describes the long-run effects of corporate taxation. A reduction in the corporate-income tax rate increases GDP, wages, consumption, investment, and business density. The trade balance is at the same time negatively affected. Firms headquartered in a country which lowers its corporate tax become internationally less active and instead focus more on their domestic market. In the second step, the paper presents adjustment dynamics that are induced by a corporate-tax reform. The dynamic response of the economy can substantially differ when comparing shorter and longer time horizons.

     

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    hdl: 10419/265977
    Schriftenreihe: CESifo working paper ; no. 9942 (2022)
    Schlagworte: corporate taxation; macroeconomy; heterogeneous firms; multinationals; international spillovers
    Umfang: 1 Online-Ressource (circa 49 Seiten), Illustrationen
  9. Vaccine global value chains and regional production capacity in Asia and the Pacific
    Erschienen: [2022]
    Verlag:  ARTNeT, United Nations ESCAP, Economic and Social Commission for Asia and the Pacific, Bangkok, Thailand

    The coronavirus disease (COVID-19) pandemic has highlighted the crucial role of vaccines in public health management and economic recovery. Its worldwide impact has raised national security concerns and implications on health policies, particularly... mehr

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    The coronavirus disease (COVID-19) pandemic has highlighted the crucial role of vaccines in public health management and economic recovery. Its worldwide impact has raised national security concerns and implications on health policies, particularly on Asia Pacific countries' readiness to cope with the next pandemic. This report explains the rise of COVID-19 vaccine production of key vaccines and differentiates them into two different approaches: the internalization-driven production, in which the leading pharmaceutical multinationals control most of the vaccine production in a few locations; and the externalization-driven production, whereby lead companies extend their vaccine production to various regions. These two approaches are led by various factors, including vaccine technology, strategy and missions of the vaccine producers, and the availability and capacity of qualified contract manufacturers in host countries. Pros and cons for each approach need to be considered to limit the impact of nationalistic interests and policies that have been part of the delay in vaccine distribution in some countries. The ultimate objective of a vaccine policy is a speedy and efficient administration of vaccines in the population, not national production, even if the latter is a desirable goal for politicians.

     

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    hdl: 10419/266154
    Schriftenreihe: Working paper / Asia-Pacific Research and Training Network on Trade ; no. 217 (2022)
    Special series on trade and health
    Schlagworte: COVID-19; vaccines; Global Value Chains; multinationals; global supply chains; Asia-Pacific
    Umfang: 1 Online-Ressource (circa 41 Seiten), Illustrationen
  10. Global profit shifting, 1975-2019
    Erschienen: November 2022
    Verlag:  United Nations University World Institute for Development Economics Research, Helsinki, Finland

    This paper constructs time series of global profit shifting covering the 2015-19 period, during which major international efforts were implemented to curb profit shifting. We find that (i) multinational profits grew faster than global profits, (ii)... mehr

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    This paper constructs time series of global profit shifting covering the 2015-19 period, during which major international efforts were implemented to curb profit shifting. We find that (i) multinational profits grew faster than global profits, (ii) the share of multinational profits booked in tax havens remained constant at around 37 per cent, and (iii) the fraction of global corporate tax revenue lost due to profit shifting rose from 9 to 10 per cent. We extend our time series back to 1975 and document a remarkable increase of multinational profits and global profit shifting from 1975 to 2019.

     

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    ISBN: 9789292672546
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    hdl: 10419/273911
    Schriftenreihe: WIDER working paper ; 2022, 121
    Schlagworte: Gewinnverlagerung; Steueroase; Multinationales Unternehmen; Welt; multinationals; profit shifting; factor shares; taxation
    Umfang: 1 Online-Ressource (circa 16 Seiten), Illustrationen
  11. Assessing profit shifting using Country-by-Country Reports a non-linear response to tax rate differentials
    Erschienen: June 2021
    Verlag:  [University of Oxford, Sai͏̈d Business School, Centre for Business Taxation], [Oxford]

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    Schriftenreihe: Working paper / University of Oxford, Sai͏̈d Business School, Centre for Business Taxation ; 2020, 11
    Schlagworte: Profit shifting; BEPS; International taxation; corporate income tax; multinationals; country-by-country reporting
    Umfang: 1 Online-Ressource (circa 81 Seiten)
  12. Responsible sourcing?
    theory and evidence from Costa Rica
    Erschienen: November 2022
    Verlag:  CESifo, Munich, Germany

    Multinational enterprises (MNEs) increasingly impose "Responsible Sourcing" (RS) standards on their suppliers worldwide, including requirements on worker compensation, benefits and working conditions. Are these policies just "hot air" or do they... mehr

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    Multinational enterprises (MNEs) increasingly impose "Responsible Sourcing" (RS) standards on their suppliers worldwide, including requirements on worker compensation, benefits and working conditions. Are these policies just "hot air" or do they impact exposed suppliers and their workers? What is the welfare incidence of RS in sourcing countries? To answer these questions, we develop a quantitative general equilibrium (GE) model of RS and combine it with a unique new database. In the theory, we show that the welfare implications of RS are ambiguous, depending on an interplay between what is akin to an export tax (+) and a labor market distortion (-). Empirically, we combine the near-universe of RS rollouts by MNE subsidiaries in Costa Rica since 2009 with firm-to-firm transactions and matched employer- employee microdata. We find that RS rollouts lead to significant reductions in firm sales and employment at exposed suppliers, an increase in their salaries to initially low-wage workers and a reduction in their low-wage employment share. We then use the estimated effects and the microdata to calibrate the model and quantify GE counterfactuals. We find that while MNE RS policies have led to significant gains among the roughly one third of low-wage workers employed at exposed suppliers ex ante, the majority of low-wage workers lose due to adverse indirect effects on their wages and the domestic price index.

     

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    hdl: 10419/267340
    Schriftenreihe: CESifo working papers ; 10108 (2022)
    Schlagworte: multinationals; responsible sourcing; FDI; labor standards
    Umfang: 1 Online-Ressource (circa 89 Seiten), Illustrationen
  13. How do corporate tax hikes affect investment allocation within multinationals?
    Erschienen: February 2023
    Verlag:  CESifo, Munich, Germany

    This paper studies how corporate tax hikes transmit across countries through multinationals' internal networks of subsidiaries. We build a parsimonious multicountry model to underscore two opposing spillover effects: While tax competition between... mehr

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    This paper studies how corporate tax hikes transmit across countries through multinationals' internal networks of subsidiaries. We build a parsimonious multicountry model to underscore two opposing spillover effects: While tax competition between countries generates positive investment spillover, intra-firm production linkages predict negative spillover. Using subsidiary-level data and exogenous corporate tax hikes, we find that local business units cut investment by 0.4% for a 1% increase in foreign corporate tax. This result highlights the importance of production linkages in propagating foreign tax shocks, as the supply-chain-induced negative spillover dominates the positive spillover effect suggested by the conventional wisdom of tax competition.

     

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    hdl: 10419/271916
    Schriftenreihe: CESifo working papers ; 10272 (2023)
    Schlagworte: tax hike; investment; internal networks; multinationals; spillover effects
    Umfang: 1 Online-Ressource (circa 68 Seiten), Illustrationen
  14. The indirect effect of the Russian-Ukrainian war through international linkages
    early evidence from the stock market
    Erschienen: [2023]
    Verlag:  Centre for Economic Performance, London School of Economics and Political Science, London

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    Schriftenreihe: Discussion paper / Centre for Economic Performance ; no. 1899 (January 2023)
    Schlagworte: Russia-Ukraine war; trade linkages; multinationals; stock market; event study
    Umfang: 1 Online-Ressource (circa 32 Seiten), Illustrationen
  15. Multinationals and Varieties of Capitalism
    When U.S. Giants Stepped into the Swiss Coordinated Labor Market in the 1950s
    Erschienen: 2022
    Verlag:  SSRN, [S.l.]

    This working paper investigates unintended consequences of U.S. FDI in Switzerland in the 1950s-1960s: the increased competition that U.S. firms generated within the national labor market and the challenge their hiring practices constituted for the... mehr

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    This working paper investigates unintended consequences of U.S. FDI in Switzerland in the 1950s-1960s: the increased competition that U.S. firms generated within the national labor market and the challenge their hiring practices constituted for the institutional settings in which labor relations were embedded. It therefore contributes to two bodies of literature: one that deals with the arrival of U.S. firms in Europe after 1945 and another that tackles the contribution of business history to the variety of capitalism (VOC) scholarship

     

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    Schriftenreihe: Harvard Business School General Management Unit Working Paper ; No. 22-075
    Schlagworte: multinationals; capitalism; business & government relations; foreign direct investment; immigration policy; history; Switzerland; Americanization; R&D; labor history; labor market institutions; tax havens; USA; business interest association; lobbying
    Umfang: 1 Online-Ressource (20 p)
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    Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments June 3, 2022 erstellt

  16. Cultural configurations for international innovativeness
    a review and theoretical proposal
    Erschienen: April 2023
    Verlag:  IUJ Research Institute, International University of Japan, [Niigata-ken]

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    Schriftenreihe: Economics & management series / International University of Japan ; EMS-2023, 05
    Schlagworte: Cultural distance; corporate culture; national culture; innovation; knowledge; R&D; globalization; creativity; new product development; multinationals
    Umfang: 1 Online-Ressource (circa 38 Seiten), Illustrationen
  17. The channels of international comovement
    Autor*in: Barbiero, Omar
    Erschienen: [2023]
    Verlag:  [Federal Reserve Bank of Boston], [Boston]

    How does exposure to international markets affect returns and cash flow comovements? Foreign bond owners, lenders, affiliates, investors, customers, and suppliers all transmit country shocks to companies. Most multinationals have many of these... mehr

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    How does exposure to international markets affect returns and cash flow comovements? Foreign bond owners, lenders, affiliates, investors, customers, and suppliers all transmit country shocks to companies. Most multinationals have many of these exposures simultaneously within the same foreign market. Returns and cash flows of two companies comove when exposed to the same country through the same channel. Within-country exposure through different channels is generally associated with lower comovement, in line with an operational hedging strategy. This evidence can help reconcile how, on average, increased market integration does not lead to increased comovement.

     

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    hdl: 10419/284093
    Auflage/Ausgabe: This version: October 2023
    Schriftenreihe: Working papers / Federal Reserve Bank of Boston ; no. 23, 16
    Schlagworte: Return comovement; business cycle; multinationals; FDI; international financing; supply chain; foreign exposure
    Umfang: 1 Online-Ressource (circa 68 Seiten), Illustrationen
  18. How does profit shifting affect the balance of payments?
    Erschienen: February 2021
    Verlag:  International Monetary Fund, [Washington, DC]

    Profit shifting by multinational enterprises-through manipulation of transfer prices of related-party trade, intragroup lending, or the location of intangibles-affects international flows, raising the question of its impact on the current account and... mehr

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    Profit shifting by multinational enterprises-through manipulation of transfer prices of related-party trade, intragroup lending, or the location of intangibles-affects international flows, raising the question of its impact on the current account and external balances. This paper approaches this question theoretically and empirically. In theory, profit shifting distorts the components of the current account and bilateral current account balances but leaves a country's aggregate net balance unaffected. There is, however, a real effect on current account balances, because taxes are paid to different jurisdictions. Moreover-in practice-the measured current account could change, because not all transactions are equally easy to track. Our panel empirical results broadly confirm that the current account balance tends to be, on average, unaffected by profit shifting, but taking heterogeneity into account we find that both the real tax effect and mismeasurement strengthen income balances-and thus the current account-in investment hubs

     

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    Quelle: Staatsbibliothek zu Berlin
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    ISBN: 9781513569994
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    Schriftenreihe: IMF working paper ; WP/21, 41
    Schlagworte: Balance of payments; current account; multinationals; profit shifting; tax avoidance
    Umfang: 1 Online-Ressource (circa 29 Seiten), Illustrationen
  19. Productivity of offshore affiliates and distance from headquarters
    evidence from affiliate-level data of Japanese multinationals
    Erschienen: [2020]
    Verlag:  RIETI, [Tokyo, Japan]

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    Schriftenreihe: RIETI discussion paper series ; 20-E, 047 (May 2020)
    Schlagworte: multinationals; productivity; affiliates; distance
    Umfang: 1 Online-Ressource (circa 24 Seiten), Illustrationen
  20. The impact of multinationals along the job ladder
    Erschienen: October 2023
    Verlag:  CESifo, Munich, Germany

    Multinational affiliates are more productive than domestic firms, so how do they affect a host country through the labor market? We use data for Norway to show that the labor market is characterized by a job ladder, with multinationals on the upper... mehr

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    Multinational affiliates are more productive than domestic firms, so how do they affect a host country through the labor market? We use data for Norway to show that the labor market is characterized by a job ladder, with multinationals on the upper rungs. We calibrate a general equilibrium job ladder model with endogenous multinational entry to the Norwegian data. In a counterfactual where multinationals face an infinite entry cost, payments to labor fall and profits of domestic firms rise, but the impact is heterogeneous. Competition for workers increases low down on the job ladder, while it decreases high up.

     

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    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/282389
    Schriftenreihe: CESifo working papers ; 10701 (2023)
    Schlagworte: multinationals; labor market; job ladder
    Umfang: 1 Online-Ressource (circa 84 Seiten), Illustrationen
  21. International corporate tax avoidance
    a review of the channels, magnitudes and blind spots
    Erschienen: 2018
    Verlag:  Oxford University Centre for Business Taxation, Oxford

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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Working paper series / Oxford University Centre for Business Taxation ; WP 18, 15 (July 2018)
    Schlagworte: corporate taxation; multinationals; profit shifting; international tax avoidance; metaanalysis
    Umfang: 1 Online-Ressource (circa 49 Seiten), Illustrationen
  22. A portrait of U.S. factoryless goods producers
    Autor*in: Kamal, Fariha
    Erschienen: October, 2018
    Verlag:  U.S. Census Bureau, Center for Economic Studies, Washington, DC

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    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Working papers / Center for Economic Studies, U.S. Census Bureau ; 18, 43 (October, 2018)
    Schlagworte: contract manufacturing services; “factoryless” production; imports; multinationals; intellectual property
    Umfang: 1 Online-Ressource (circa 33 Seiten)
  23. Searching for carbon leaks in multinational companies
    Erschienen: [2019]
    Verlag:  Centre for Economic Performance, London School of Economics and Political Science, London

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    Schriftenreihe: CEP discussion paper ; no 1601 (February 2019)
    Schlagworte: carbon leakage; EU ETS; multinationals
    Umfang: 1 Online-Ressource (circa 37 Seiten), Illustrationen
  24. Global managers, local workers
    wage setting inside a multinational firm
    Autor*in: Minni, Virginia
    Erschienen: [2024]
    Verlag:  Centre for Economic Performance, London School of Economics and Political Science, London

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    Schriftenreihe: Discussion paper / Centre for Economic Performance ; no. 1975 (January 2024)
    Schlagworte: multinationals; firm wage-setting; inequality
    Umfang: 1 Online-Ressource (circa 18 Seiten), Illustrationen
  25. Careers in multinational enterprises
    Erschienen: [2024]
    Verlag:  Tinbergen Institute, Amsterdam, The Netherlands

    Do workers in multinational enterprises (MNEs) build stronger CVs? We track the careers of all workers entering the Dutch labor market over the years 2006-2021 and find large and portable wage premia of MNE employment experience. Workers with... mehr

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    Do workers in multinational enterprises (MNEs) build stronger CVs? We track the careers of all workers entering the Dutch labor market over the years 2006-2021 and find large and portable wage premia of MNE employment experience. Workers with experience at MNEs instead of domestic firms earn up to 14% higher wages within the MNE, and up to 11% higher wages after moving to another firm. Consistent with a model of MNEs that leverage the value of their employment experience, we find that MNEs hire more juniors, pay lower starting wages, and are more selective towards senior workers than domestic firms.

     

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    hdl: 10419/282902
    Schriftenreihe: Array ; TI 2024, 005
    Schlagworte: multinationals; experience wage premia; firm organization; AKM; knowledge spillovers; Netherlands
    Umfang: 1 Online-Ressource (circa 68 Seiten), Illustrationen