La localisation des investissements des pays émergents en Europe

The globalization of companies from emerging economies is a recent phenomenon that has quickly become prevalent. As such, identifying the criteria governing the choice of investment location in Europe by these new firms has taken on importance. This article seeks to discover investment location criteria specific to emerging economies. Econometric analysis is applied to 1,145 investment decisions made by multinational corporations in Europe between 2003 and 2009. Investment location criteria already identified for developed countries also apply to emerging economies. Our results confirm that cultural proximity between the investing country and the host country plays a key role in the location decision, but does not validate the existence of a country-region sequential selection process for investors from emerging countries.