Sequential Foreign Investments,Regional Technology Platformsand the Evolution of JapaneseMultinationals in East Asia
Song, Jaeyong | July 2001
Abstract
IVABSTRACTIn this paper, we investigate the firm-level mechanisms that underlie the sequential foreign direct investment (FDI) decisions of multinational corporations (MNCs). To understand inter-firm heterogeneity in the sequential FDI behaviors of MNCs, we develop a firm capability-based model of sequential FDI decisions. In the setting of Japanese electronics MNCs in East Asia, we empirically examine how prior investments in firm capabilities affect sequential investments into existingproduction bases in response to major environmental changes. In our empirical investigation, which isbased on descriptive statistical analysis, panel data regression analysis, and field studies, we find supporting evidence for our main argument that sequential FDIs are firm-specific, evolutionary processes in which prior investments in firm capabilities influence future sequential FDI behaviors.
Citation
Song, Jaeyong. 2001. Sequential Foreign Investments,Regional Technology Platformsand the Evolution of JapaneseMultinationals in East Asia. © Asian Development Bank Institute. http://hdl.handle.net/11540/4127. License: CC BY 3.0 IGO.Keywords
Cofinancing
Development Financing
Economic Development and Finance
Finance
Financial Advisory Services
Financial Assistance
Financial Support
ADB
Self Financing
Aid Financing
Financial Aid
Development Banks
Project Impact
Development Banks
Asset allocation
Investment management
Commercial documents
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