Modelling product and foreign market diversification decisions for UK firms

Adrian Gourlay and Jonathan Seaton

Applied Economics Letters, 2010, vol. 17, issue 2, 117-120

Abstract: This article contributes to the firm market diversification literature by using a bivariate probit model analogous to SURE vs. OLS for probit estimation to examine the market diversification decisions for a panel of UK firms. We extend the current literature to include director remuneration and firm-specific exchange rates. We find that firm size, wages, R&D, directors remuneration and the level and variability of exchange rates all have a significant impact on the probability of a firm diversifying into foreign markets.

Date: 2010
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DOI: 10.1080/13504850701719918

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