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Foreign Expansion by Italian Manufacturing Firms in the Nineties: an Ordered Probit Analysis

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  • Roberto Basile
  • Anna Giunta
  • Jeffrey Nugent

Abstract

This paper develops a foreign expansion index (FEI) of the firm which integrates various dimensions of commitment to internationalization, i.e. exports, foreign penetration operations and FDI. This study focuses on Italy, constructing FEIs for each of some 4,000 firms for three periods characterized by different exchange rate regimes. The determinants of FEI in each period are studied through the use of an ordered probit model. The findings suggest that: a) firm size, inter- firm relations, innovation capabilities, location and technology are all highly significant determinants of FEI, but their impact on the foreign expansion is influenced by the exchange rate regime.
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Suggested Citation

  • Roberto Basile & Anna Giunta & Jeffrey Nugent, 2003. "Foreign Expansion by Italian Manufacturing Firms in the Nineties: an Ordered Probit Analysis," Review of Industrial Organization, Springer;The Industrial Organization Society, vol. 23(1), pages 1-24, August.
    • Handle: RePEc:kap:revind:v:23:y:2003:i:1:p:1-24
    DOI: 10.1023/B:REIO.0000005561.07176.30
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