Firm heterogeneity and the market scope of European multinational activity
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Title
Firm heterogeneity and the market scope of European multinational activityDate
2017-09Publisher
ElsevierBibliographic citation
ALGUACIL, Maite; MARTÍ, Josep; ORTS, Vicente. Firm heterogeneity and the market scope of European multinational activity. International Review of Economics & Finance, 2017, vol. 51, p. 645-659.Type
info:eu-repo/semantics/articlePublisher version
http://www.sciencedirect.com/science/article/pii/S1059056017301053Version
info:eu-repo/semantics/publishedVersionSubject
Abstract
This paper examines the relationship between the characteristics of European firms and the market scope of their international activity. We show, theoretically, that when markets can be served by exports or through ... [+]
This paper examines the relationship between the characteristics of European firms and the market scope of their international activity. We show, theoretically, that when markets can be served by exports or through foreign affiliates, a strict hierarchy of firm characteristics and the number of markets they invest in or exports can only be established for firms engaged in foreign direct investment (FDI), but not for exporters. Empirically, our findings confirm the significant role of firm heterogeneity in the structure of European international activity, as well as the increasing relationship between firm characteristics and the number of markets in which they operate. Additionally, in line with our predictions, the estimates reveal the existence of heterogeneous effects and non-linearities in this relationship, with important differences between exporters and firms engaging in FDI. [-]
Investigation project
Spanish Ministerio de Economía y Competitividad (ECO2014-58975-P) ; Universitat Jaume I (UJI-B2016-53).Rights
© 2017 Elsevier Inc. All rights reserved.
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info:eu-repo/semantics/openAccess
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