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FDI and Heterogeneous Performance of European Enterprises

Valeria Gattai and Giorgia Sali

No 291, Working Papers from University of Milano-Bicocca, Department of Economics

Abstract: This paper investigates the link between internationalization and performance in Europe. It takes a microeconomic perspective and studies how Foreign Direct Investment (FDI) experience relates with European firms’ economic, innovation and financial performance. Drawing on a large longitudinal database, our multinomial logit estimates suggest that FDI really matters. Indeed, firms experiencing some FDI (either inward, outward or both) enjoy a superior performance compared with purely domestic enterprises. Moreover, within the class of FDI players, firms engaged in inward and outward FDI turn out to be better than those engaged only in outward FDI, which are better than those engaged only in inward FDI. These results are robust to several performance measures and alternative specifications including firm, industry and country controls.

Keywords: FDI; Heterogeneous firms; Europe (search for similar items in EconPapers)
JEL-codes: F23 L25 O52 (search for similar items in EconPapers)
Pages: 20
Date: 2015-02, Revised 2015-02
New Economics Papers: this item is included in nep-bec, nep-eur, nep-int and nep-sbm
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http://repec.dems.unimib.it/repec/pdf/mibwpaper291.pdf First version, 2015 (application/pdf)

Related works:
Journal Article: FDI and heterogeneous performance of European enterprises (2016) Downloads
Journal Article: FDI and heterogeneous performance of European enterprises (2016) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:mib:wpaper:291

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