Events

• Dr. Jing Wu
  Assistant Professor
  Department of Management Sciences
  City University of Hong Kong

Financial globalisation is still far from complete four decades after the end of the Bretton Woods System largely due to transaction costs and informational frictions. In this study, we ask if global supply-chain relationships help firms access cross-border financing in the international capital markets. Comparing two firms that are otherwise similar, we observe the firm that has formed global supply-chain relationships to have more cross-border financing after the supply chain formation. This result is supported empirically by all major financing vehicles, including stock cross-listing, bond issuance, bank loans, and M&A deals.

[This talk is OM-finance empirical work]