This paper provides empirical evidence on the determinants of foreign ownership in manufacturing industries. Foreign ownership, according to the theory of international production, is the result of the combination of comparative and competitive advantage. An adequate examination of the ownership structure of an industry requires the ability to establish empirically the extent to which international competitiveness of firms rests on comparative and competitive advantage. Analysis is based on a sample of the 30 largest manufacturing firms in Austria. The distinction and definition of comparative and competitive advantage as used in this paper and following from it the conclusions about the ownership structure are consistent with the empirical evidence about the share of employees in foreign-owned firms on the industry level. In particular, the classification of firms as foreign- or domestically-owned is in line with the revealed performance differences between foreign and domestic firms.
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Paper provided by Vienna University of Economics and B.A., Department of Economics in its series Department of Economics Working Papers with number
wuwp062.
Find related papers by JEL classification: F - International Economics F23 - International Economics - - International Factor Movements and International Business - - - Multinational Firms; International Business L2 - Industrial Organization - - Firm Objectives, Organization, and Behavior L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General
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