An assignment theory of foreign direct investment:
"We develop an assignment theory to analyze the volume and composition of foreign direct investment (FDI). Firms conduct FDI by either engaging in greenfield investment or in cross-border acquisitions. Cross-border acquisitions involve firms trading heterogeneous corporate assets to exploit com...
Gespeichert in:
| Hauptverfasser: | , |
|---|---|
| Format: | Buch |
| Sprache: | English |
| Veröffentlicht: |
Cambridge, Mass.
National Bureau of Economic Research
2004
|
| Schriftenreihe: | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series
11003 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | "We develop an assignment theory to analyze the volume and composition of foreign direct investment (FDI). Firms conduct FDI by either engaging in greenfield investment or in cross-border acquisitions. Cross-border acquisitions involve firms trading heterogeneous corporate assets to exploit complementarities, while greenfield FDI involves building a new plant in the foreign market. In equilibrium, greenfield FDI and cross-border acquisitions co-exist, but the composition of FDI between these modes varies with firm and country characteristics. Firms engaging in greenfield investment are systematically more efficient than those engaging in cross-border acquisitions. Furthermore, most FDI takes the form of cross-border acquisitions when factor price differences between countries are small, while greenfield investment plays a more important role for FDI from high-wage into low-wage countries. These results capture important features of the data"--National Bureau of Economic Research web site. |
| Beschreibung: | 39 S. graph. Darst. |
Internformat
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| 490 | 1 | |a National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |v 11003 | |
| 520 | 3 | |a "We develop an assignment theory to analyze the volume and composition of foreign direct investment (FDI). Firms conduct FDI by either engaging in greenfield investment or in cross-border acquisitions. Cross-border acquisitions involve firms trading heterogeneous corporate assets to exploit complementarities, while greenfield FDI involves building a new plant in the foreign market. In equilibrium, greenfield FDI and cross-border acquisitions co-exist, but the composition of FDI between these modes varies with firm and country characteristics. Firms engaging in greenfield investment are systematically more efficient than those engaging in cross-border acquisitions. Furthermore, most FDI takes the form of cross-border acquisitions when factor price differences between countries are small, while greenfield investment plays a more important role for FDI from high-wage into low-wage countries. These results capture important features of the data"--National Bureau of Economic Research web site. | |
| 650 | 4 | |a Ökonometrisches Modell | |
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Datensatz im Suchindex
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| id | DE-604.BV023591143 |
| illustrated | Illustrated |
| index_date | 2024-07-02T22:41:27Z |
| indexdate | 2024-07-09T21:25:10Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-016906473 |
| oclc_num | 57424358 |
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| owner | DE-521 DE-19 DE-BY-UBM |
| owner_facet | DE-521 DE-19 DE-BY-UBM |
| physical | 39 S. graph. Darst. |
| publishDate | 2004 |
| publishDateSearch | 2004 |
| publishDateSort | 2004 |
| publisher | National Bureau of Economic Research |
| record_format | marc |
| series | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| series2 | National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series |
| spelling | Nocke, Volker Verfasser (DE-588)129354848 aut An assignment theory of foreign direct investment Volker Nocke ; Stephen Yeaple Cambridge, Mass. National Bureau of Economic Research 2004 39 S. graph. Darst. txt rdacontent n rdamedia nc rdacarrier National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 11003 "We develop an assignment theory to analyze the volume and composition of foreign direct investment (FDI). Firms conduct FDI by either engaging in greenfield investment or in cross-border acquisitions. Cross-border acquisitions involve firms trading heterogeneous corporate assets to exploit complementarities, while greenfield FDI involves building a new plant in the foreign market. In equilibrium, greenfield FDI and cross-border acquisitions co-exist, but the composition of FDI between these modes varies with firm and country characteristics. Firms engaging in greenfield investment are systematically more efficient than those engaging in cross-border acquisitions. Furthermore, most FDI takes the form of cross-border acquisitions when factor price differences between countries are small, while greenfield investment plays a more important role for FDI from high-wage into low-wage countries. These results capture important features of the data"--National Bureau of Economic Research web site. Ökonometrisches Modell Investments, Foreign Econometric models Yeaple, Stephen R. Verfasser (DE-588)129354872 aut Erscheint auch als Online-Ausgabe National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series 11003 (DE-604)BV002801238 11003 http://papers.nber.org/papers/w11003.pdf kostenfrei Volltext |
| spellingShingle | Nocke, Volker Yeaple, Stephen R. An assignment theory of foreign direct investment National Bureau of Economic Research <Cambridge, Mass.>: NBER working paper series Ökonometrisches Modell Investments, Foreign Econometric models |
| title | An assignment theory of foreign direct investment |
| title_auth | An assignment theory of foreign direct investment |
| title_exact_search | An assignment theory of foreign direct investment |
| title_exact_search_txtP | An assignment theory of foreign direct investment |
| title_full | An assignment theory of foreign direct investment Volker Nocke ; Stephen Yeaple |
| title_fullStr | An assignment theory of foreign direct investment Volker Nocke ; Stephen Yeaple |
| title_full_unstemmed | An assignment theory of foreign direct investment Volker Nocke ; Stephen Yeaple |
| title_short | An assignment theory of foreign direct investment |
| title_sort | an assignment theory of foreign direct investment |
| topic | Ökonometrisches Modell Investments, Foreign Econometric models |
| topic_facet | Ökonometrisches Modell Investments, Foreign Econometric models |
| url | http://papers.nber.org/papers/w11003.pdf |
| volume_link | (DE-604)BV002801238 |
| work_keys_str_mv | AT nockevolker anassignmenttheoryofforeigndirectinvestment AT yeaplestephenr anassignmenttheoryofforeigndirectinvestment |