International Investment and Firm Performance: Empirical Evidence from Small Open Economies

Iulia Siedschlag (), Ville Kaitila, McQuinn John () and Zhang Xiaoheng ()
Additional contact information
McQuinn John: Cambridge Econometrics, Covent Garden, Cambridge CB1 2HT, United Kingdom
Zhang Xiaoheng: Taipingxincun 2, Nanjing 210016, China

Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), 2014, vol. 234, issue 6, 662-687

Abstract: The global financial and economic crisis has severely affected foreign direct investment, particularly the cross-border mergers and acquisitions in advanced economies. This paper examines the effects of foreign mergers and acquisitions on labour productivity and employment growth over the period 2001-2009 in six small open economies in the European Union: Austria, Belgium, Denmark, Finland, the Netherlands and Sweden. We show that the severity of the crisis has been uneven across these six economies. Taken together, our estimates suggest that foreign direct investment had stronger effects on firm performance in services than in manufacturing.

Keywords: Multinational firms; productivity; employment; propensity score matching (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (3)

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Working Paper: International Investment and Firm Performance: Empirical Evidence from Small Open Economies (2013)
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Persistent link: https://EconPapers.repec.org/RePEc:jns:jbstat:v:234:y:2014:i:6:p:662-687

DOI: 10.1515/jbnst-2014-0603

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