The Impacts of Foreign Ownership on the Productivity of Korean Manufacturing Firms

Sung Jin Kang
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Sung Jin Kang: Korea University

Korean Economic Review, 2005, vol. 21, 79-99

Abstract: Using Korean firm-level panel data since the financial crisis, this paper shows that considering two possible econometric issues: unobservable firm-specific effects and potential endogeneity of foreign ownership, fixed-effect and first-differenced panel estimation results with instrumental variables present neither own productivity nor spillover effects of foreign ownership on local companies. This contrasts the results of estimation wherein the two econometric issues are neglected, showing contemporaneously positive and significant own productivity and spillover effects.

Keywords: gforeign ownership; spillovers; productivity (search for similar items in EconPapers)
JEL-codes: F2 O1 O3 (search for similar items in EconPapers)
Date: 2005
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