Multinational investments across Europe: a multilevel analysis

Jonas Kleineick, Andrea Ascani and Martijn Smit

Review of Regional Research: Jahrbuch für Regionalwissenschaft, 2020, vol. 40, issue 1, No 5, 67-105

Abstract: Abstract This research focuses on the investigation of the location determinants of multinational corporations’ investments in EU countries. Investment projects are addressed by making a distinction between greenfield investments and M&A projects. Besides traditional factors (such as market characteristics) the effect of innovation capabilities and the institutional environment are incorporated in the analysis. The use of a multilevel model makes it possible to empirically assess the effect of national and regional characteristics on the location decision of multinationals. The results suggest that greenfield investments and M&A are similar in their location determinants, although the former have a stronger correlation with highly educated populations. Urbanisation, associated with land cost, as well as national (rather than regional) markets are insignificant. Finally, we find no evidence for the importance of political stability within Europe.

Keywords: Multinationals; Investment; Regions; European Union (search for similar items in EconPapers)
JEL-codes: F21 F23 N14 R12 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (3)

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DOI: 10.1007/s10037-020-00139-2

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