Does firm heterogeneity affect foreign market entry and exit symmetrically? Empirical evidence for French firms
AbstractThis paper studies the internationalization behaviour of French companies using more than 330,000 observations for three two-year intervals. We analyse the ‘symmetric’ role of productivity and other major firm attributes to characterize companies that enter into and exit from foreign markets. High levels of productivity are documented to be characteristic of companies deciding to engage in exporting or foreign direct investment (FDI). However, there does not seem to be a significant correlation between productivity and divestment decisions. Moreover, companies with corporate shareholders are more likely to intensify their international engagement and to retain their cross-border activities. Finally, high levels of short-term and long-term debt tend to increase the likelihood of entry into a more intense international engagement.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Behavior & Organization.
Volume (Year): 85 (2013)
Issue (Month): C ()
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Web page: http://www.elsevier.com/locate/jebo
Foreign markets; Entry; Exit; Exporting; FDI;
Find related papers by JEL classification:
- F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business
- D21 - Microeconomics - - Production and Organizations - - - Firm Behavior: Theory
- L21 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Business Objectives of the Firm
- C25 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Discrete Regression and Qualitative Choice Models; Discrete Regressors; Proportions
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- Holger Görg & Marina-Eliza Spaliara, 2013.
"Export Market Exit, Financial Pressure and the Crisis,"
CESifo Working Paper Series
4363, CESifo Group Munich.
- Holger Görg & Marina-Eliza Spaliara, 2013. "Export market exit, financial pressure and the crisis," Kiel Working Papers 1859, Kiel Institute for the World Economy.
- Görg, Holger & Spaliara, Marina-Eliza, 2013. "Export market exit, financial pressure and the crisis," CEPR Discussion Papers 9599, C.E.P.R. Discussion Papers.
- Mawuli Segnon & Thomas Lux, 2013. "Multifractal Models in Finance: Their Origin, Propterties, and Applications," Kiel Working Papers 1860, Kiel Institute for the World Economy.
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