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Les performances des entreprises françaises implantées à l'étranger

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  • Gazaniol, Alexandre
  • Peltrault, Frédéric
  • Siroën, Jean-Marc

Abstract

Cet article évalue les performances des firmes multinationales dans l’industrie manu- facturière française, et les compare à celles des entreprises uniquement exportatrices et domestiques. Les primes à l’implantation s’avèrent très significatives et dépassent lar- gement les primes à l’exportation, indépendamment de la taille, de la conjoncture et du secteur d’activité. Cette hiérarchie se vérifie en tous points de la distribution condition- nelle de chaque variable par une régression quantile. Par ailleurs, les primes à l’implan- tation s’accroissent avec le nombre de filiales à l’étranger et sont plus marquées pour les filiales de groupe (en particulier étranger). Les meilleures performances des entre- prises implantées à l’étranger s’expliquent en partie par un effet de sélection : investir à l’étranger s’accompagne de coûts fixes importants et nécessite un niveau de produc- tivité relativement élevé. Toutefois, les firmes qui s’implantent pour la première fois à l’étranger, les primo-investisseurs, connaissent également une croissance significative de leurs ventes, de leur valeur ajoutée, de leurs effectifs et de leurs exportations ex post. L’implantation à l’étranger récompense ainsi les meilleures entreprises, qui consolident leur avantage par rapport aux autres firmes. Ce constat semble particulièrement vrai pour les filiales de groupes, qui se caractérisent à la fois par un effet de sélection et des effets d’apprentissage accrus.

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Bibliographic Info

Paper provided by Paris Dauphine University in its series Economics Papers from University Paris Dauphine with number 123456789/7408.

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Date of creation: 2010
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Publication status: Published in Economie et Statistique, 2010, no. 435-436. pp. 149-167.Length: 18 pages
Handle: RePEc:dau:papers:123456789/7408

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Web page: http://www.dauphine.fr/en/welcome.html
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Related research

Keywords: Exportations; Investissements étranger; Entreprises multinationales; Industries manufacturières; Firmes françaises; Firmes hétérogènes;

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  1. Sourafel Girma & David Greenaway & Katharine Wakelin, 2013. "Who Benefits from Foreign Direct Investment in the UK?," Scottish Journal of Political Economy, Scottish Economic Society, vol. 60(5), pages 560-574, November.
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  21. Gazaniol, Alexandre & Peltrault, Frédéric, 2010. "Implantation à l’étranger des entreprises françaises : un impact différencié selon l’appartenance à un groupe," Economics Papers from University Paris Dauphine, Paris Dauphine University 123456789/10696, Paris Dauphine University.
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