All Outputs (11)

Corporate acquisitions and firm-level uncertainty: Domestic versus cross-border deals (2023)
Journal Article
Bai, Y., Girma, S., & Riaño, A. (2024). Corporate acquisitions and firm-level uncertainty: Domestic versus cross-border deals. Journal of International Money and Finance, 140, Article 102988. https://doi.org/10.1016/j.jimonfin.2023.102988

This paper investigates how the announcement of acquisitions affect the uncertainty that financial markets perceive about acquiring firms. We use data for publicly-listed firms in the UK between 2004 and 2017 and employ a matching estimator combined... Read More about Corporate acquisitions and firm-level uncertainty: Domestic versus cross-border deals.

Covid-19 Vaccines As a Condition of Employment: Impact on Uptake, Staffing, and Mortality in Elderly Care Homes (2023)
Journal Article
Girma, S., & Paton, D. (in press). Covid-19 Vaccines As a Condition of Employment: Impact on Uptake, Staffing, and Mortality in Elderly Care Homes. Management Science, https://doi.org/10.1287/mnsc.2023.4832

Laws mandating vaccination against Covid-19 as a condition of employment in health and care sectors were commonplace during the pandemic. Using weekly data at the local authority level, we examine the impact of the vaccine mandate for elderly care ho... Read More about Covid-19 Vaccines As a Condition of Employment: Impact on Uptake, Staffing, and Mortality in Elderly Care Homes.

Who wins and who loses from state subsidies? (2023)
Journal Article
Du, J., Girma, S., Görg, H., & Stepanok, I. (2023). Who wins and who loses from state subsidies?. Canadian Journal of Economics / Revue Canadienne d'Économique, 56(3), 1007-1031. https://doi.org/10.1111/caje.12644

China is perceived to rely on subsidizing firms in targeted industries to improve their performance and stay competitive. We implement an approach that allows for the joint estimation of direct and indirect effects of subsidies on subsidized and non-... Read More about Who wins and who loses from state subsidies?.

Is assisted suicide a substitute for unassisted suicide? (2022)
Journal Article
Girma, S., & Paton, D. (2022). Is assisted suicide a substitute for unassisted suicide?. European Economic Review, 145, Article 104113. https://doi.org/10.1016/j.euroecorev.2022.104113

Posner hypothesised that the legalisation of assisted suicide may substitute for unassisted (unregulated) suicide. We test predictions arising from this hypothesis using data from US states that have legalised assisted suicide. Event study regression... Read More about Is assisted suicide a substitute for unassisted suicide?.

Subsidies, spillovers and exports (2019)
Journal Article
Girma, S., Görg, H., & Stepanok, I. (2020). Subsidies, spillovers and exports. Economics Letters, 186, Article 108840. https://doi.org/10.1016/j.econlet.2019.108840

© 2019 Elsevier B.V. We ask whether production related subsidies have a role to play in explaining Chinese firms’ export performance. We, firstly, implement an estimation approach that allows for both direct and indirect (“spillover”) effects of the... Read More about Subsidies, spillovers and exports.

Global engagement and returns volatility (2016)
Journal Article
Girma, S., Lancheros, S., & Riaño, A. (in press). Global engagement and returns volatility. Oxford Bulletin of Economics and Statistics, 78(6), https://doi.org/10.1111/obes.12150

This paper finds that a greater reliance on foreign market sales increases the volatility of firms’ stock returns using high-frequency data for publicly-listed Japanese manufacturing firms over the period 2000 to 2010. The two margins of global engag... Read More about Global engagement and returns volatility.

Investment liberalisation, technology take-off and export market entry: does foreign ownership structure matter? (2015)
Journal Article
Girma, S., Gong, Y., Görg, H., & Lancheros, S. (2015). Investment liberalisation, technology take-off and export market entry: does foreign ownership structure matter?. Journal of Economic Behavior and Organization, 116, https://doi.org/10.1016/j.jebo.2015.04.008

In the run up to its accession to the WTO in 2001, China has undergone far-reaching investment liberalisation. As part of this investment liberalisation process, existing restrictions on foreign ownership structure and mandatory export and technology... Read More about Investment liberalisation, technology take-off and export market entry: does foreign ownership structure matter?.

Is education the best contraception: the case of teenage pregnancy in England? (2015)
Journal Article
Girma, S., & Paton, D. (2015). Is education the best contraception: the case of teenage pregnancy in England?. Social Science and Medicine, 131, https://doi.org/10.1016/j.socscimed.2015.02.040

This paper examines potential explanations for recent declines in teenage pregnancy in England. We estimate panel data models of teenage conception, birth and abortion rates from regions in England. Although point estimates are consistent with the pr... Read More about Is education the best contraception: the case of teenage pregnancy in England?.

Estimating direct and indirect effects of foreign direct investment on firm productivity in the presence of interactions between firms (2014)
Journal Article
Girma, S., Yundan, G., Holger, G., & Sandra, L. (2014). Estimating direct and indirect effects of foreign direct investment on firm productivity in the presence of interactions between firms. Journal of International Economics, 95(1), https://doi.org/10.1016/j.jinteco.2014.11.007

We implement a method to estimate the direct effects of foreign-ownership on foreign firms' productivity and the indirect effects (or spillovers) from the presence of foreign-owned firms on other foreign and domestic firms' productivity in a unifying... Read More about Estimating direct and indirect effects of foreign direct investment on firm productivity in the presence of interactions between firms.

Rationalizing the value premium in emerging markets (2013)
Journal Article
Ebrahim, M. S., Girma, S., Shah, M. E., & Williams, J. (2014). Rationalizing the value premium in emerging markets. Journal of International Financial Markets, Institutions and Money, 29, https://doi.org/10.1016/j.intfin.2013.11.005

We reconfirm the presence of value premium in emerging markets. Using the Brazil–Turkey–India–China (BTIC) grouping during a period of substantial economic growth and stock market development, we attribute the premium to the investment patterns of gl... Read More about Rationalizing the value premium in emerging markets.

Dynamic capital structure and political patronage: the case of Malaysia (2013)
Journal Article
Ebrahim, M. S., Girma, S., Shah, M. E., & Williams, J. (2014). Dynamic capital structure and political patronage: the case of Malaysia. International Review of Financial Analysis, 31, https://doi.org/10.1016/j.irfa.2013.11.004

This paper investigates the effect of political patronage on firms' capital structure. The evidence is from Malaysia, a country characterised by relationship-capitalism, and covers 1988 to 2009. Using a system GMM estimator we find firms set leverage... Read More about Dynamic capital structure and political patronage: the case of Malaysia.