Entries and Exits in Foreign Markets: Italian Firms' Multinational Expansion in the European Union

Davide Vannoni

International Journal of the Economics of Business, 1999, vol. 6, issue 2, 181-196

Abstract: This paper focuses on the expansion strategies in foreign markets of a sample of Italian firms during the period 1987-93. The data reveal strong dynamics in entry and exit strategies and an overall increase in Italian firms' foreign manufacturing activities. Firms seem to be restructuring and reorganising their range of activities in view of the new competitive scenario promoted by the completion of the Single European Market. A logit model investigating the determinants of entry in foreign markets is tested at the firm level. The results suggest that firms' specific resources, target industry and foreign country characteristics are important explanatory variables. Some new insights concerning the export substitution effect, the presence of technological sourcing and the multinational/ diversification dichotomy are also discussed.

Keywords: Multinationals; Foreign Direct Investments; Entries And Exits (search for similar items in EconPapers)
Date: 1999
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Citations: View citations in EconPapers (2)

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DOI: 10.1080/13571519984214

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