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Abstract ▼ AI-Helper

This paper analyzes the effect of global export negotiation on the corporate value. There are ample empirical evidence on the valuation effect of diverse globalization strategies, but few studies have covered the effect of global export negotiation outcomes. This study tries to fill this gap. We u...

This paper analyzes the effect of global export negotiation on the corporate value. There are ample empirical evidence on the valuation effect of diverse globalization strategies, but few studies have covered the effect of global export negotiation outcomes. This study tries to fill this gap. We utilize the event study method to measure the abnormal returns, which are explained by the size of contracts, the periods of contracts, the export ratios, and the firm size. The results show that the successful global trade negotiations improve the firm value measured by the daily as well as monthly abnormal returns. Especially, we find the firm value continuously increases even after four, five and six months from the event month, showing that global trade negotiations have long-term effect on the firm value. In addition, we find that the abnormal returns are explained by the periods of export-contract and export ratios.

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