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    Determinants of Different Modes of FDI: Firm-Level Evidence from Japanese FDI into the US

    Wang, Peiming; Alba, Joseph D.; Park, Donghyun | July 2013
    Abstract
    There are four major modes through which firms undertake foreign direct investment (FDI) – merger and acquisition (M&A), joint venture (JV), new plant (NP) and others (O). The four modes of FDI are distinct from each other, and each has its own unique advantages and disadvantages. While a large and growing empirical literature examines the determinants of FDI, very few studies examine the determinants of different modes of FDI. The central objective of this paper is to empirically analyze the extent to which the determinants of FDI such as firm size influences the choice of one mode of FDI over another. Our analysis follows a stylized two-stage investment process. First, we look at the probability of whether a Japanese firm is willing to undertake FDI in the US. Second, for firms that are willing to undertake FDI, we analyze which mode of FDI - i.e. M&A, joint venture, new plant or other FDI – they will undertake. The second stage is the innovation of this paper and its contribution to the FDI literature.
    Citation
    Wang, Peiming; Alba, Joseph D.; Park, Donghyun. 2013. Determinants of Different Modes of FDI: Firm-Level Evidence from Japanese FDI into the US. © Springer. http://hdl.handle.net/11540/4297.
    Print ISBN
    Park, Donghyun
    ISSN
    0923-7992
    Keywords
    Development
    Finance
    Development Challenges
    Development Issues
    Development Problems
    Microenterprises Finance
    Commercial Finance Companies
    Enterprise Financing
    ADB
    Project finance
    Development plans
    Strategic planning
    Business Financing
    Investment Requirements
    Insurance Companies
    Insurers
    Insurance stocks
    Insurance holding companies
    Insurance carriers
    Insurance agencies
    Business subsidies
    Investment companies
    Foreign investment
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    Citable URI
    http://hdl.handle.net/11540/4297
    Metadata
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    Author
    Wang, Peiming
    Alba, Joseph D.
    Park, Donghyun
    Theme
    Development
    Finance
     
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise
    Copyright 2016-2021 Asian Development Bank Institute, except as explicitly marked otherwise