TY  - BOOK
AU  - Fisman,Raymond
AU  - Hamao,Yasushi
AU  - Wang,Yongxiang
ED  - National Bureau of Economic Research.
TI  - Nationalism and Economic Exchange: Evidence from Shocks to Sino-Japanese Relations 
T2  - NBER working paper series
PY  - 2014///
CY  - Cambridge, Mass.
PB  - National Bureau of Economic Research
N1  - May 2014; Hardcopy version available to institutional subscribers
N2  - We study the impact of nationalism and interstate frictions on international economic relations by analyzing market reaction to adverse shocks to Sino-Japanese relations in 2005 and 2010. Japanese companies with high China exposure suffer relative declines during each event window; a symmetric effect is observed for Chinese companies with high Japanese exposure. The effect on Japanese companies is more pronounced for those operating in industries dominated by Chinese state-owned enterprises, while firms with high Chinese employment experience lower declines. These results emphasize the role of countries' economic and political institutions in mediating the impact of interstate frictions on firm-level outcomes
UR  - https://www.nber.org/papers/w20089
UR  - http://dx.doi.org/10.3386/w20089
ER  -