BEGIN:VCALENDAR VERSION:2.0 METHOD:PUBLISH PRODID:-//Telerik Inc.//Sitefinity CMS 15.1//EN BEGIN:VTIMEZONE TZID:Eastern Standard Time BEGIN:STANDARD DTSTART:20251102T020000 RRULE:FREQ=YEARLY;BYDAY=1SU;BYHOUR=2;BYMINUTE=0;BYMONTH=11 TZNAME:Eastern Standard Time TZOFFSETFROM:-0400 TZOFFSETTO:-0500 END:STANDARD BEGIN:DAYLIGHT DTSTART:20250301T020000 RRULE:FREQ=YEARLY;BYDAY=2SU;BYHOUR=2;BYMINUTE=0;BYMONTH=3 TZNAME:Eastern Daylight Time TZOFFSETFROM:-0500 TZOFFSETTO:-0400 END:DAYLIGHT END:VTIMEZONE BEGIN:VEVENT DESCRIPTION:The Moynihan Institute's Comparative Politics/International Rel ations Series presents Randall Stone. The Korean IMF program of 1997 opene d the financial sector\, and firms that were targets of foreign mergers an d acquisitions went global in the ensuing years. In the process\, their Ko rean identity was diluted and their investment strategies became guided by their American co-owners. We find patterns attributable to firm nationali ty in firm-level location decisions for foreign investment by Korean firms \, and we use difference-in-difference regressions to assess the changes i n investment behavior associated with foreign ownership. In particular\, K orean firms that have been targets of US foreign mergers and acquisitions exhibit a reverse corporate social responsibility effect\, which we descri be as a “dirty work” effect. Korean-American firms prefer to invest in cou ntries with strained relations with the United States\, and US mergers and acquisitions are associated with significantly increased tendencies to in vest in countries with authoritarian politics\, weak labor rights\, and we ak environmental protection. We argue that US firms invest in Korea in ord er to use Korean firms as platforms for socially irresponsible corporate i nvesting\, using these intermediaries to do their dirty work\, which allow s them to insulate their own brands from the reputational damage that such investments might entail. Patterns of socially irresponsible Korean inves ting appear to be driven by firms with substantial US investor participati on.Randall W. Stone (Ph.D. 1993\, Harvard) is Professor and Chair of the P olitical Science Department at the University of Rochester. \; His art icles have appeared in the American Political Science Review\, Internation al Organization\, the Journal of Politics\, and other leading political sc ience journals\, and he is the author of three books:  \;Controlling I nstitutions: International Organizations and the Global Economy \;(201 1)\; \;Lending Credibility: The IMF and the Post-Communist Transition& nbsp\;(2002)\; and \;Satellites and Commissars: Strategy and Conflict in the Politics of Soviet-bloc Trade \;(1996). \; He was a Fulbrig ht Senior Scholar in Berlin\, his research has been funded by the National Science Foundation and the Social Science Research Council\, and he has c onsulted for the International Monetary Fund. He is currently working on a new book on interactions between multinational corporations and internati onal institutions. DTEND:20220325T173000Z DTSTAMP:20260511T091806Z DTSTART:20220325T163000Z LOCATION: SEQUENCE:0 SUMMARY:Acquired Nationality: Dirty Work and the Americanization of Korean Firms UID:RFCALITEM639140734868188190 X-ALT-DESC;FMTTYPE=text/html:

The Moynihan Institute's Comparative Politi cs/International Relations Series presents Randall Stone. The Korean IMF p rogram of 1997 opened the financial sector\, and firms that were targets o f foreign mergers and acquisitions went global in the ensuing years. In th e process\, their Korean identity was diluted and their investment strateg ies became guided by their American co-owners. We find patterns attributab le to firm nationality in firm-level location decisions for foreign invest ment by Korean firms\, and we use difference-in-difference regressions to assess the changes in investment behavior associated with foreign ownershi p. In particular\, Korean firms that have been targets of US foreign merge rs and acquisitions exhibit a reverse corporate social responsibility effe ct\, which we describe as a “dirty work” effect. Korean-American firms pre fer to invest in countries with strained relations with the United States\ , and US mergers and acquisitions are associated with significantly increa sed tendencies to invest in countries with authoritarian politics\, weak l abor rights\, and weak environmental protection. We argue that US firms in vest in Korea in order to use Korean firms as platforms for socially irres ponsible corporate investing\, using these intermediaries to do their dirt y work\, which allows them to insulate their own brands from the reputatio nal damage that such investments might entail. Patterns of socially irresp onsible Korean investing appear to be driven by firms with substantial US investor participation.

Randall W. Stone (Ph.D. 199 3\, Harvard) is Professor and Chair of the Political Science Department at the University of Rochester. \; His articles have appeared in the Ame rican Political Science Review\, International Organization\, the Journal of Politics\, and other leading political science journals\, and he is the author of three books:  \;Controlling Institutions: International Org anizations and the Global Economy \;(2011)\; \;Lending Credibility : The IMF and the Post-Communist Transition \;(2002)\; and \;Satel lites and Commissars: Strategy and Conflict in the Politics of Soviet-bloc Trade \;(1996). \; He was a Fulbright Senior Scholar in Berlin\, his research has been funded by the National Science Foundation and the So cial Science Research Council\, and he has consulted for the International Monetary Fund. He is currently working on a new book on interactions betw een multinational corporations and international institutions.

END:VEVENT END:VCALENDAR