Regional headquarters and foreign direct investment
Headquarters (HQs) provide a wide range of services, playing a fundamental role in Foreign Direct Investment (FDI). We use the structural gravity equation to investigate the effect of regional HQs on three dimensions of FDI (number of foreign projects, capital investment, and jobs) at the country‐pa...
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Veröffentlicht in: | Review of international economics 2022-09, Vol.30 (4), p.1288-1310 |
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creator | Gil‐Pareja, Salvador Llorca‐Vivero, Rafael Paniagua, Jordi |
description | Headquarters (HQs) provide a wide range of services, playing a fundamental role in Foreign Direct Investment (FDI). We use the structural gravity equation to investigate the effect of regional HQs on three dimensions of FDI (number of foreign projects, capital investment, and jobs) at the country‐pair‐sector level. Furthermore, we explore two underlying mechanisms that help explain this relationship: financial constraints and informational costs and uncertainty. We find a positive effect of regional HQs on FDI, as well as intercountry and intersector spillovers. Our results are robust, accounting for HQ intensity, domestic investment, and endogeneity tests. |
doi_str_mv | 10.1111/roie.12605 |
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source | Wiley Online Library - AutoHoldings Journals; EBSCOhost Business Source Complete |
subjects | Capital investments credit constraints FDI Foreign investment Gravity Head offices headquarters intangible capital spillovers structural gravity Uncertainty |
title | Regional headquarters and foreign direct investment |
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