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  1. Article: Economic impact of COVID-19 across national boundaries: The role of government responses.

    Guedhami, Omrane / Knill, April / Megginson, William / Senbet, Lemma W

    Journal of international business studies

    2023  , Page(s) 1–20

    Abstract: This Research Note provides an assessment of the burgeoning interdisciplinary literature surrounding the COVID-19 pandemic and its impact on both individuals and firms, with a particular focus on the heterogeneity in government responses and their ... ...

    Abstract This Research Note provides an assessment of the burgeoning interdisciplinary literature surrounding the COVID-19 pandemic and its impact on both individuals and firms, with a particular focus on the heterogeneity in government responses and their implications for international finance and IB research. In particular, we discuss disparities in vaccine distribution, government policy responses, and impacts in low-income versus high-income countries, as well as lessons learned from the pandemic. We describe an important source of data in this area and provide ideas for future research.
    Language English
    Publishing date 2023-05-04
    Publishing country England
    Document type Journal Article
    ZDB-ID 2067230-5
    ISSN 1478-6990 ; 0047-2506
    ISSN (online) 1478-6990
    ISSN 0047-2506
    DOI 10.1057/s41267-023-00612-3
    Database MEDical Literature Analysis and Retrieval System OnLINE

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  2. Article: The dark side of globalization: Evidence from the impact of COVID-19 on multinational companies.

    Guedhami, Omrane / Knill, April / Megginson, William L / Senbet, Lemma W

    Journal of international business studies

    2022  Volume 53, Issue 8, Page(s) 1603–1640

    Abstract: The COVID-19 pandemic has led to economic and health crises ("twin crises") worldwide. Using a sample of firms from 73 countries over the period January to December 2020, we examine stock price reactions of multinational corporations (MNCs) and purely ... ...

    Abstract The COVID-19 pandemic has led to economic and health crises ("twin crises") worldwide. Using a sample of firms from 73 countries over the period January to December 2020, we examine stock price reactions of multinational corporations (MNCs) and purely domestic companies (DCs) to the crisis. We find that, on average, MNCs suffer a significantly larger decline in firm value relative to DCs during the stock market crisis caused by the pandemic with notable heterogeneity in this underperformance across both industry and region. The evidence of MNC underperformance is robust to using abnormal returns, an alternative crisis window, a matched sample that accounts for differences in characteristics between MNCs and DCs, alternative model specifications, and alternative proxies for multinationality. Further analysis on the effect of government responses on the valuation gap suggests that stringent government responses exacerbate MNCs' underperformance. Finally, we show that a stronger financial system mitigates negative crisis returns, especially under stringent government responses, while real factors, such as the firm's supply chain, investments in human capital, research and development, exacerbate negative crisis returns. Our findings have important implications for managers of MNCs and government policymakers alike and contribute to studies on the international diversification-performance relation by demonstrating a dark side of globalization during a tail-risk event.
    Language English
    Publishing date 2022-09-06
    Publishing country England
    Document type Journal Article
    ZDB-ID 2067230-5
    ISSN 1478-6990 ; 0047-2506
    ISSN (online) 1478-6990
    ISSN 0047-2506
    DOI 10.1057/s41267-022-00540-8
    Database MEDical Literature Analysis and Retrieval System OnLINE

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  3. Book: Agriculture and structural transformation in Africa

    Senbet, Lemma W / Simbanegavi, Witness

    (Journal of African economies ; volume 26, supplement 1 (August 2017))

    2017  

    Author's details edited by Lemma W. Senbet and Witness Simbanegavi
    Series title Journal of African economies ; volume 26, supplement 1 (August 2017)
    Language English
    Size i98 Seiten, Illustrationen
    Publisher Oxford University Press
    Publishing place Oxford
    Document type Book
    Note Enthält 4 Beiträge
    Database ECONomics Information System

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  4. Article: Agriculture and structural transformation in Africa

    Senbet, Lemma W / Simbanegavi, Witness

    Journal of African economies Bd. 26 (Aug.), Seite i3-i10

    an overview

    2017  

    Author's details Lemma W. Senbet and Witness Simbanegavi
    Keywords agriculture ; structural transformation ; green revolution ; smallholder farmers ; locus of control
    Language English
    Publisher Univ. Press
    Publishing place Oxford
    Document type Article
    ZDB-ID 1106568-0 ; 1494618-x
    ISSN 1464-3723 ; 0963-8024
    ISSN (online) 1464-3723
    ISSN 0963-8024
    Database ECONomics Information System

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  5. Article: Taxes, institutions, and innovation: Theory and international evidence.

    Gande, Amar / John, Kose / Nair, Vinay B / Senbet, Lemma W

    Journal of international business studies

    2020  Volume 51, Issue 9, Page(s) 1413–1442

    Abstract: We develop an international model of the design of institutions for regulating innovative activities of private corporations. Informational limitations faced by the social planner preclude complete contracting with private firms. Corporate innovation ... ...

    Abstract We develop an international model of the design of institutions for regulating innovative activities of private corporations. Informational limitations faced by the social planner preclude complete contracting with private firms. Corporate innovation creates positive and negative externalities. The social planner in each country takes into account the legal system in place, and designs an umbrella of institutions that include a menu of organizational forms, liability structures, corporate taxes, and subsidies. We show that limited liability may be accompanied by excessive innovation. However, when the nonmonetized benefits are very high, private firms may be too conservative in innovation policies. Firms choose their organizational form and level of innovation consistent with private optimality. With the optimal institutional design for each country, we demonstrate that private innovation choices are aligned with social optimality. In particular, we show that the optimally designed corporate tax rate in each country is a decreasing function of its legal effectiveness. Using data from 63 countries over 2003-2018, we document supporting evidence. MNCs can take advantage of differential liability and corporate tax structures across national boundaries to circumvent institutional design constraints. However, when MNCs generate positive externalities to host countries, their governments may provide subsidies and incentives.
    Keywords covid19
    Language English
    Publishing date 2020-11-18
    Publishing country England
    Document type Journal Article
    ZDB-ID 2067230-5
    ISSN 1478-6990 ; 0047-2506
    ISSN (online) 1478-6990
    ISSN 0047-2506
    DOI 10.1057/s41267-020-00375-1
    Database MEDical Literature Analysis and Retrieval System OnLINE

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  6. Book: Youth employment in Sub-Saharan Africa

    Fox, Louise / Senbet, Lemma W / Simbanegavi, Witness

    challenges, constraints and opportunities

    (Journal of African economies ; volume 25, Supplement 1, March 2016)

    2016  

    Author's details editors by: Louise Fox, Lemma W. Senbet, and Witness Simbanegavi
    Series title Journal of African economies ; volume 25, Supplement 1, March 2016
    Language English
    Size 102 Seiten, Illustrationen
    Document type Book
    Note Enthält 4 Beiträge
    Database ECONomics Information System

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  7. Book: Financial inclusion and innovation in Africa

    Beck, Thorsten / Senbet, Lemma W / Simbanegavi, Witness

    an overview

    (Journal of African economies ; volume 24, Supplement 1, January 2015)

    2015  

    Author's details editor by: Thorsten Beck, Lemma Senbet, and Witness Simbanegavi
    Series title Journal of African economies ; volume 24, Supplement 1, January 2015
    Language English
    Size 71 Seiten, Illustrationen
    Document type Book
    Note Enthält 4 Beiträge
    Database ECONomics Information System

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  8. Article ; Online: Financial sector development in Africa

    Otchere, Isaac / Senbet, Lemma W / Simbanegavi, Witness

    Review of development finance Vol. 7, No. 1 , p. 1-5

    an overview

    2017  Volume 7, Issue 1, Page(s) 1–5

    Author's details Isaac Otchere, Lemma Senbet, Witness Simbanegavi
    Language English
    Size Online-Ressource
    Publishing place Bellville
    Document type Article ; Online
    ZDB-ID 2583078-8
    ISSN 1879-9337
    Database ECONomics Information System

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  9. Book: Sovereign wealth funds and natural resource management in Africa

    Senbet, Lemma W / Simbanegavi, Witness / Wills, Samuel E

    (Journal of African economies ; volume 25, supplement 2 (September 2016))

    2016  

    Author's details edited by Samuel E. Wills, Lemma W. Senbet and Witness Simbanegavi
    Series title Journal of African economies ; volume 25, supplement 2 (September 2016)
    Language English
    Size ii73 Seiten, Illustrationen
    Document type Book
    Note Enthält 4 Beiträge
    Database ECONomics Information System

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  10. Article: Sovereign wealth funds and natural resource management in Africa

    Wills, Samuel E / Senbet, Lemma W / Simbanegavi, Witness

    Journal of African economies Bd. 25 (Sep.), Seite ii3-ii19

    2016  

    Author's details Samuel E. Wills, Lemma W. Senbet, and Witness Simbanegavi
    Keywords Africa ; natural resources ; sovereign wealth funds ; absorption ; infrastructure finance ; development banks ; long-term investors
    Language English
    Publisher Univ. Press
    Publishing place Oxford
    Document type Article
    ZDB-ID 1106568-0 ; 1494618-x
    ISSN 1464-3723 ; 0963-8024
    ISSN (online) 1464-3723
    ISSN 0963-8024
    Database ECONomics Information System

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