New Evidence on FDI Determinants: An Appraisal Over the Transition Period

Gorbunova, Yulia; Infante, Davide; Smirnova, Janna

doi:10.18267/j.pep.415

Cited by 32 publications

(24 citation statements)

References 44 publications

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“…Initially, empirical studies for those countries were conducted treating all the countries in the whole region jointly. Examples of such studies include Lansbury et al (1996), Brenton et al (1999), Benacek et al (2000), Resmini (2000), Garibaldi et al (2001), Bevan and Estrin (2004), Carstensen and Toubal (2004), Cieślik and Ryan (2004), Baniak et al (2005), Gorbunova et al (2012), and most recently also Wach and Wojciechowski (2016). Subsequently, studies for individual CEECs started to appear.…”

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confidence: 99%

Determinants of MNE Activity in Poland: The Case of Firms from EU-15

Cieślik

2017

EBER

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A B S T R A C T Objective:The main purpose of this paper is to validate empirically the theoretical predictions of the modified knowledge capital model of multinational enterprise and identify the main reasons for undertaking international production in Poland by foreign firms from the EU-15 countries. Research Design & Methods: Our theoretical framework refers to the physical capital augmented knowledge capital model that combines both horizontal and vertical reasons for foreign direct investment. The empirical implementation of the theoretical framework is based on the negative binomial model and the bilateral dataset covering 15 old EU member states over the period 1989-2014 which yields a total of 390 observations. Findings: Our estimation results indicate that the extent of multinational activity in Poland is positively related to both differences in relative factor endowments and similarity in the relative country size which confirms the importance of both reasons for undertaking foreign direct investment in Poland. Implications & Recommendations:The empirical evidence confirms the predictions of the modified knowledge capital model and points to the horizontal as well as vertical motives for undertaking foreign direct investment in Poland. These findings suggest that government should not try to attract only one type of FDI. Contribution & Value Added: The originality of this work lies in the empirical implementation of the theoretical framework that allows distinguishing between horizontal and vertical reasons for foreign direct investment. Article type: research paper

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confidence: 99%

Determinants of MNE Activity in Poland: The Case of Firms from EU-15

Cieślik

2017

EBER

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“…Secondly, the absence of the relationship between the imports and ET can be explained with the lower propensity of these economies to transfer the production processes abroad. As known, this can be the result of the FDI inflow (Gorbunova et al 2012) and cheaper labour that these countries register with respect to the EU Western countries. In these countries, domestic production is still a significant factor, constituting a base for the environmental taxation entries.…”

Section: Resultsmentioning

confidence: 99%

Non-trivial Factors as Determinants of the Environmental Taxation Revenues in 27 EU Countries

2018

Self Cite

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Abstract:The implementation of environmental taxation is one of the most important issues of environmental policy in Europe. To approach this matter, the paper aims to analyse the determinants of environmental taxation revenue for European countries. Besides investigating the most explored determinants, such as those related to production, consumption and environmental quality, particular attention is paid to some non-trivial factors. Firstly, we analyse the importance of the institutional context that is crucial for policy enforcement. Secondly, we consider the consumption of rapidly obsolescent goods, such as information and communication technology (ICT) goods characterised by intensive waste generation. Finally, the importation of final goods as a consequence of production offshoring is taken into account. The results demonstrate that the above-mentioned determinants have a heterogeneous impact on environmental taxation revenue in EU Western countries and EU Eastern countries, which can be due to a still weak institutional context of the latter economies and their peculiar patterns of development.

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“…The size 5 For the particular case of countries in transition to market economy, in the privatization process, shares are sometimes sold at a discount (Fidrmuc, 2007). In these cases, it is also important to take into account the foreign direct investments because they can have a larger impact on a state economy (Gorbunova et al, 2012).…”

Section: Methodology and Datamentioning

confidence: 99%

The Unusual Case of the Discount Offers for Taking the Control: Evidence from Romania

Dragotă¹,

Ciobanu²

2017

Prague Economic Papers

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Most of the studies regarding control premium are focussed on the case in which it is positive. We considered the case when it is negative, investigating the determinants of the discount for control, having as study case the Romanian listed companies. Comparative to the general case of control premium, discounts for control are also determined by some other specific factors, like the number of non-trading days and the cash ratio. Some determinant factors of control premium have an opposite influence when this is negative: the percentage of shares purchased in the transaction, the ownership concentration, the fact the buyer or the seller is domestic, and the existence of a major shareholder owning more than 50% of shares. Consequently, some factors usually used in explaining the control premium cannot be suitably used for the case of the discount for control. Moreover, the negative impact of the undiversified portfolio is validated.

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New Evidence on FDI Determinants: An Appraisal Over the Transition Period

Cited by 32 publications

References 44 publications

Determinants of MNE Activity in Poland: The Case of Firms from EU-15

Determinants of MNE Activity in Poland: The Case of Firms from EU-15

Non-trivial Factors as Determinants of the Environmental Taxation Revenues in 27 EU Countries

The Unusual Case of the Discount Offers for Taking the Control: Evidence from Romania

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