Using firm-level panel data for Korean multinational enterprises (MNEs), we make a distinction between being the only affiliate of a parent firm and being one of the multiple affiliates of a parent firm. In particular, we attempt to find a correlation between the sales of foreign affiliates and...

This paper examines the role of firm heterogeneity in multinationals' choice of FDI type and location. Using Korean firm-level data, we find that more productive firms are more likely than their less efficient counterparts to invest in tough markets and choose horizontal FDI against vertical or...

This paper examines the roles of firm and country characteristics in determining multinationals' choice of foreign direct investment (FDI) type and location. Using Korean firm‐level data, we find that highly productive firms are more likely than their less efficient counterparts to invest in...