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Recent literature on multinational firms has stressed the importance of low productivity as a barrier to the cross-border expansion of firms. But firms may also need external finance to shoulder the costs of entering foreign markets. We develop a model of multinational firms facing real and...
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Theoretical considerations suggest that the option of waiting under conditions of uncertainty affects the relative importance of firm-level productivity and distance-related transaction costs as driving forces of FDI. Yet the timing of FDI has received little attention in the empirical...
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Germany has always been one of the major direct investment destinations for Korean multinational enterprises (MNEs … the role Germany has played over the years. For this purpose, geographical configuration patterns of the largest Korean … MNEs within Europe are analyzed. The main findings indicate that Germany is considered more important to automobile …
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