As compeition in many industries becomes increasingly global, MNEs have found that import-substitution subsidiaries, focusing on the supply of national markets, are much less viable. In the pursuit of enhanced competitiveness through export-oriented subsidiaries, MNEs are also finding that...

The purpose of this article is twofold. Firstly, by applying the event study methodology, it provides detailed and updated evidence on the value generating effect of different modes of foreign direct investment (FDI) entry. Secondly, this is the first paper to empirically evaluate the impact of...

The paper argues that policies towards inward investment should extend, much more decisively and comprehensively, beyond initial attraction in order to seek to secure sustained benefits from these operations. The view of the modern multinational enterprise as a dynamic differentiated network,...