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
Hauptverfasser: Gil‐Pareja, Salvador, Llorca‐Vivero, Rafael, Paniagua, Jordi
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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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