One of the most outstanding features of the trend toward globalization has been the increased importance of foreign direct investment (FDI) flows around the world. This study estimates the determinant of FDI flows using the gravity equation, controlling for the importance of both the traditional...

For firms acting in technological niches the expansion into foreign markets can be a way to increase sales and to thus to recover initial sunk costs over a shorter time frame. Our research, based on survey data for nearly 600 British and German high-tech start-ups, examines whether...