Herding in foreign direct investment

Mario Levis, Yaz Muradoglu and Kristina Vasileva

International Review of Financial Analysis, 2023, vol. 86, issue C

Abstract: This paper, to our knowledge, is the first to examine herding in foreign direct investment (FDI). We investigate it from two perspectives, first the number of countries investing in the host country and then the dollar volumes of those investments. Our results provide strong evidence of herding in FDI. We also show herding in the divestures of these investors. We show that herding in FDI is related to host country characteristics and governance parameters.

Keywords: Foreign direct investment; Herding; Panel data (search for similar items in EconPapers)
Date: 2023
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:finana:v:86:y:2023:i:c:s1057521923000194

DOI: 10.1016/j.irfa.2023.102503

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