The Hoberg and Moon text-based offshoring database
is based on annually updated firm disclosures in the regarding their
international activities in 10-Ks.
The offshoring database is best
described as a dynamic firm-nation-year network summarizing the international
activities of publicly traded U.S. firms that file 10-Ks. The network summarizes four specific
activities: (1) Offshore Output (firm sells goods to given nation), (2) Offshore
Input (firm purchases inputs from given nation), (3) Offshore External Input
(firm purchases inputs from given nation but does not own assets there), and
(4) Offshore Internal Input (firm purchases inputs from given nation and the
firm does own assets in the given nation).
Marshall School of Business
University of Southern California
Los Angeles, CA
to the Hoberg-Moon Offshoring Repository
Note: Offshoring Data Extended through 2017! >>
Data provided by Gerard Hoberg (University of Southern California)
and S. Katie Moon
(University of Colorado)
* Please cite these papers when using this data. Details regarding the creation and use of
this data are also in these papers.
Offshore Activities and Financial vs
Operational Hedging, 2017, Journal
of Financial Economics 125 (2), 217-244 [Download Paper].
The Offshoring Return Premium, 2019,
Management Science, 65 (6), 2445-2945. [Download Paper].
FX Hedging Data (firm-year
textual mentions of usage of FX Hedging instruments):
Basic Version of Offshoring
* The above basic version
covers all firm to country name links.
** Please review
all details in the readme file before using the database.
Enhanced Version of Offshoring
* The above enhanced version
covers everything in the basic version and also all firm to region name
links. Regions include terms like
“Asia”, “Latin America”, etc.
** Please review all
details in the readme file before using the database.
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