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Much Ado About Nothing? The Economic Impact of US Foreign Trade Mission Participation

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  • Schnietz, Karen E.
  • Schuler, Douglas A.

Abstract

The activist foreign trade missions of the Clinton Administration are intended to open strategically important, but often difficult-to-enter, emerging markets to US foreign investment with government-to-government negotiations. Some research streams suggest that participation in a trade mission should benefit firms, while others suggest that participation should have no discernible benefit. This paper performs several event studies to analyze the stock return of a portfolio of the publicly traded firms participating in trade missions from 1993 to 1996. It finds that participants did not experience positive or significant abnormal stock returns as a result of mission participation, regardless of how the event date is defined or the data segmented.

Suggested Citation

  • Schnietz, Karen E. & Schuler, Douglas A., 1999. "Much Ado About Nothing? The Economic Impact of US Foreign Trade Mission Participation," Business and Politics, Cambridge University Press, vol. 1(2), pages 155-177, August.
    • Handle: RePEc:cup:buspol:v:1:y:1999:i:02:p:155-177_00
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