Replication Data for: Mobilizing Market Power: Jurisdictional Expansion as Economic Statecraft (doi:10.7910/DVN/WOKBPF)

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Part 2: Study Description
Part 3: Data Files Description
Part 4: Variable Description
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Replication Data for: Mobilizing Market Power: Jurisdictional Expansion as Economic Statecraft

doi:10.7910/DVN/WOKBPF

Harvard Dataverse

2019-01-28

1

Kalyanpur, Nikhil; Newman, Abraham L., 2019, "Replication Data for: Mobilizing Market Power: Jurisdictional Expansion as Economic Statecraft", https://doi.org/10.7910/DVN/WOKBPF, Harvard Dataverse, V1, UNF:6:VxjrxmWtq1PWIUy376/Sgw== [fileUNF]

Replication Data for: Mobilizing Market Power: Jurisdictional Expansion as Economic Statecraft

doi:10.7910/DVN/WOKBPF

Kalyanpur, Nikhil (Georgetown University)

Newman, Abraham L. (Georgetown University)

STATA

Harvard Dataverse

Kalyanpur, Nikhil

Lee, Cathy

2019-01-25

https://doi.org/10.7910/DVN/WOKBPF

Social Sciences

States with large markets routinely compete with one another to shield domestic regulatory policies from global pressure, export their rules to other jurisdictions, and provide their firms with competitive advantages. Most arguments about market power tend to operationalize the concept in economic terms. In this paper, we argue that a state's ability to leverage or block these adjustment pressures is not only conditioned by their relative economic position but also by the political institutions that govern their markets. Specifically, we expect that where a state chooses to draw jurisdictional boundaries over markets directly shapes its global influence. When a state expands its jurisdiction, harmonizing rules across otherwise distinct subnational or national markets, for example, it can curtail a rival's authority. We test the theory by assessing how changes in internal governance within the European Union altered firm behavior in response to US extraterritorial pressure. Empirically, we examine foreign firm delisting decisions from US stock markets after the adoption of the Sarbanes–Oxley accounting legislation. The act, which included an exogenous compliance shock, follows the harmonization of stock market governance across various European jurisdictions. Econometric analysis of firm-level data illustrates that EU-based companies, which benefited from jurisdictional expansion, were substantially more likely to leave the American market and avoid adjustment pressures. Our findings contribute to debates on the role of political institutions in economic statecraft and suggest the conditions under which future regulatory conflicts will arise between status quo and rising economic powers.

<a href="http://creativecommons.org/publicdomain/zero/1.0">CC0 1.0</a>

Kalyanpur, Nikhil, and Abraham L. Newman. 2019. “Mobilizing Market Power: Jurisdictional Expansion as Economic Statecraft.” International Organization 73 (1): 1–34.

10.1017/S0020818318000334

Kalyanpur, Nikhil, and Abraham L. Newman. 2019. “Mobilizing Market Power: Jurisdictional Expansion as Economic Statecraft.” International Organization 73 (1): 1–34.

• Number of cases: 17743

• No. of variables per record: 34

• Type of File: text/tab-separated-values

UNF:6:VxjrxmWtq1PWIUy376/Sgw==

• conm - Company Name
• delist - Delist sample
• delist_miss
• delist_vol - Voluntary Delisting
• delist_invol - Involuntary Delisting
• delist_ma - Delist due to M&A
• delist_unknown - Delisting Status Unknown
• year - Data Year - Fiscal
• stockcap - HomeStock Cap
• stockvaltrade - STOCK MARKET TOTAL VALUE TRADED to GDP (%)
• stockturnover - STOCK MARKET TURNOVER RATIO (%)
• gdp
• anti_sd - Home Corp. Governance
• legor_fr
• legor_ge
• legor_uk
• EU
• polity2 - polity2
• tag1 - tag(tic)
• timevar1
• timevar2
• tag2 - tag(tic)
• lngdp - GDP (nat. log)
• newid - group(tic)
• lnstockcap
• tag - tag(tic)
• delist_invol_all
• delist_unknown_all
• japan
• euro
• uk
• sunk
• sunk_US - Immobile
• state_taxes_binary

f3347533 Location:

Variable Format: character

Notes: UNF:6:O0/8IYfUGV7Ct/W/Z/DfmQ==

f3347533 Location:

Summary Statistics: Max. 1.0; StDev 0.12330891888977248; Valid 17743.0; Mean 0.015442709801048837; Min. 0.0

Variable Format: numeric

Notes: UNF:6:raNCJWNX2dVSQK0sGzrxgg==

f3347533 Location:

Summary Statistics: Valid 58.0; Max. 1.0; Mean 1.0; Min. 1.0; StDev 0.0;

Variable Format: numeric

Notes: UNF:6:8YuGJv3p2g7P1Sl9NGmMGQ==

f3347533 Location:

Summary Statistics: Valid 17743.0; Max. 1.0; Mean 0.006481429296060891; StDev 0.08024826053047826; Min. 0.0;

Variable Format: numeric

Notes: UNF:6:MzylKekWSxPefGfhXEpDHg==

f3347533 Location:

Summary Statistics: Min. 0.0; Valid 17743.0; Mean 0.002930733246914202; StDev 0.0540583828061373; Max. 1.0

Variable Format: numeric

Notes: UNF:6:ixVNCA/YQIL/SApYj2c5FQ==

f3347533 Location:

Summary Statistics: Max. 1.0; Min. 0.0; Mean 0.0024234909541792134; StDev 0.04917066107955792; Valid 17743.0

Variable Format: numeric

Notes: UNF:6:+qLB40blwxHt06mL1sJFSA==

f3347533 Location:

Summary Statistics: Valid 17743.0; Max. 1.0; Mean 0.0034943357943976535; Min. 0.0; StDev 0.059011199583550084;

Variable Format: numeric

Notes: UNF:6:ZEM1YunuujK4f8jD0hokKg==

f3347533 Location:

Summary Statistics: Valid 17743.0; StDev 2.8927987641901334; Min. 1996.0; Max. 2006.0; Mean 2001.7133517443497;

Variable Format: numeric

Notes: UNF:6:3ByTV/hDRaIXv4AUZAr9/A==

f3347533 Location:

Summary Statistics: Mean 96.51139605741957; Max. 408.8358; Valid 17743.0; StDev 56.58609341468246; Min. 0.0

Variable Format: numeric

Notes: UNF:6:NRIAodY5O3VUXnUcNCwhuw==

f3347533 Location:

Summary Statistics: Max. 301.1401; Valid 16470.0; Mean 73.24065495907729; Min. 0.0071951; StDev 51.50828031634132

Variable Format: numeric

Notes: UNF:6:UqimCjzx9SrSycEEuIcolw==

f3347533 Location:

Summary Statistics: StDev 38.809068267305335; Max. 377.2419; Min. 0.1071738; Valid 16470.0; Mean 74.14665360894891

Variable Format: numeric

Notes: UNF:6:H/utRNl0yt1MbFZKs7WMng==

f3347533 Location:

Summary Statistics: Max. 4.731198760271145E12; Valid 16942.0; StDev 7.705431505375166E11; Mean 8.727903252344048E11; Min. 1.06289109336E8

Variable Format: numeric

Notes: UNF:6:jU9gPQL250z32nq2HJMHdg==

f3347533 Location:

Summary Statistics: Max. 1.0; Mean 0.6148955054863704; Min. 0.08854170143604279; Valid 15955.0; StDev 0.1771124865360898

Variable Format: numeric

Notes: UNF:6:aH2UpF6GFNHCAwL3luZing==

f3347533 Location:

Summary Statistics: Valid 17239.0; Max. 1.0; Mean 0.13684088404197683; StDev 0.34368926159555563; Min. 0.0

Variable Format: numeric

Notes: UNF:6:KUzIe1qdL0xq8KCCnsE9pA==

f3347533 Location:

Summary Statistics: Min. 0.0; Valid 17239.0; Mean 0.0693195661001057; StDev 0.2540041464670488; Max. 1.0

Variable Format: numeric

Notes: UNF:6:QI6tJlydNN/TFoL+jhfE5g==

f3347533 Location:

Summary Statistics: StDev 0.4165674175117967; Mean 0.776553164336655; Min. 0.0; Valid 17239.0; Max. 1.0;

Variable Format: numeric

Notes: UNF:6:bUhKcWhpOhkh3Z7WkYwTtw==

f3347533 Location:

Summary Statistics: Valid 17743.0; StDev 0.3776947100926392; Mean 0.17234965902043947; Min. 0.0; Max. 1.0;

Variable Format: numeric

Notes: UNF:6:e1LsDuZ2vZkPvk+phsifHg==

f3347533 Location:

Summary Statistics: Min. -7.0; Mean 9.326719576719686; StDev 2.0441838934519847; Valid 13608.0; Max. 10.0

Variable Format: numeric

Notes: UNF:6:OU9ApYsQdEeI1ONQkWxW+g==

f3347533 Location:

Summary Statistics: Max. 1.0; Mean 0.3069369654735542; Min. 0.0; Valid 6314.0; StDev 0.4612595379003214

Variable Format: numeric

Notes: UNF:6:YWNS8+3zhXBs8EsusATx0g==

f3347533 Location:

Summary Statistics: Mean 2.296642382008228; Valid 6314.0; Min. 1.0; Max. 4.0; StDev 1.0928238785559201

Variable Format: numeric

Notes: UNF:6:rIQS4C+ivVAwvo50xOdCtQ==

f3347533 Location:

Summary Statistics: Mean 2.360807633798925; StDev 1.1137051964725089; Max. 4.0; Valid 7231.0; Min. 1.0

Variable Format: numeric

Notes: UNF:6:XBiOgrGG3gMVkp8/ccmw+A==

f3347533 Location:

Summary Statistics: Mean 0.29484165398976614; Valid 7231.0; Min. 0.0; StDev 0.4560030807347251; Max. 1.0

Variable Format: numeric

Notes: UNF:6:Wm1TqarMKyMQxJSv1cHing==

f3347533 Location:

Summary Statistics: Max. 29.185199737548828; Valid 16942.0; StDev 1.6496973423830992; Min. 18.481674194335938; Mean 26.880880469879525;

Variable Format: numeric

Notes: UNF:6:OdsItuvV45IizGVaYRjRhA==

f3347533 Location:

Summary Statistics: StDev 824.6790246415612; Min. 1.0; Valid 17742.0; Mean 1445.4680982978182; Max. 2857.0;

Variable Format: numeric

Notes: UNF:6:5O8YmV+cdXknSecfb0Q5Yg==

f3347533 Location:

Summary Statistics: StDev 0.5220167500553345; Valid 16470.0; Max. 6.0133137702941895; Mean 4.52262974582301; Min. -0.5582181215286255;

Variable Format: numeric

Notes: UNF:6:9hB5gsDS3jCCwsnv/5x3xA==

f3347533 Location:

Summary Statistics: StDev 0.36756090637561717; Valid 17743.0; Min. 0.0; Mean 0.16102124781603622; Max. 1.0;

Variable Format: numeric

Notes: UNF:6:B6/+5dMDg5zlRwgObrfgXg==

f3347533 Location:

Summary Statistics: Valid 17743.0; Mean 0.013639181649100156; Min. 0.0; StDev 0.11599100240529153; Max. 1.0;

Variable Format: numeric

Notes: UNF:6:GOUDzleAYNuWdmxIbkeTmw==

f3347533 Location:

Summary Statistics: Mean 0.021191455785380894; StDev 0.1440262028197232; Max. 1.0; Min. 0.0; Valid 17743.0;

Variable Format: numeric

Notes: UNF:6:k2wXI0UUXK5qv6HLtL+sig==

f3347533 Location:

Summary Statistics: Valid 17743.0; Mean 0.02293862368257254; StDev 0.14971207856527596; Max. 1.0; Min. 0.0;

Variable Format: numeric

Notes: UNF:6:8c3HC+B036T1Ksq9JCCjng==

f3347533 Location:

Summary Statistics: Mean 0.09192357549457256; Min. 0.0; Max. 1.0; Valid 17743.0; StDev 0.28892617850096924

Variable Format: numeric

Notes: UNF:6:J1M3m6+z/kMTqy9gmsmw/g==

f3347533 Location:

Summary Statistics: Min. 0.0; Mean 0.05946006875950175; Valid 17743.0; Max. 1.0; StDev 0.23649042492925917;

Variable Format: numeric

Notes: UNF:6:X4G59cksh3r1doLxLbXFqQ==

f3347533 Location:

Summary Statistics: Valid 17743.0; StDev 0.4928101521219609; Max. 1.0; Mean 0.5845685622499034; Min. 0.0;

Variable Format: numeric

Notes: UNF:6:Oh+cGKXJP7ihcBOHoqxvFg==

f3347533 Location:

Summary Statistics: Max. 1.0; Valid 17743.0; Mean 0.22273572676548054; Min. 0.0; StDev 0.41609407671812465

Variable Format: numeric

Notes: UNF:6:rXOf1G+58Nl6In+03QyQLw==

f3347533 Location:

Summary Statistics: Min. 0.0; StDev 0.4768401190529015; Valid 17743.0; Mean 0.3495462999492723; Max. 1.0

Variable Format: numeric

Notes: UNF:6:fviuOlJ14vhMKouaDHevUA==

Label:

Kalyanpur Newman.IO2018.code.do

application/x-stata-syntax