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Explaining Foreign Ownership By Comparative and Competitive Advantage: Empirical Evidence

  • Christian Bellak

    ()

    (Department of Economics, Vienna University of Economics & B.A.)

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 Business, Department of Economics in its series Department of Economics Working Papers with number wuwp062.

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Date of creation: Mar 1999
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Handle: RePEc:wiw:wiwwuw:wuwp062
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  1. Caves, Richard E, 1971. "International Corporations: The Industrial Economics of Foreign Investment," Economica, London School of Economics and Political Science, vol. 38(149), pages 1-27, February.
  2. Cantwell, John & Bellak, Christian, 1998. "How Important Is Foreign Direct Investment?," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 60(1), pages 99-106, February.
  3. Alan M Rugman & Alain Verbeke, 1998. "Multinational Enterprises and Public Policy," Journal of International Business Studies, Palgrave Macmillan, vol. 29(1), pages 115-136, March.
  4. P. Lloyd, 1998. "Globalisation and competition policies," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 134(2), pages 161-185, June.
  5. Nakamura, M. & Xie, J., 1998. "Nonverifiability, noncontractibility and ownership determination models in foreign direct investment, with an application to foreign operations in Japan," International Journal of Industrial Organization, Elsevier, vol. 16(5), pages 571-599, September.
  6. Markusen, James R., 2002. "Multinational Firms and the Theory of International Trade," MPRA Paper 8380, University Library of Munich, Germany.
  7. Patel, Pari & Vega, Modesto, 1999. "Patterns of internationalisation of corporate technology: location vs. home country advantages1," Research Policy, Elsevier, vol. 28(2-3), pages 145-155, March.
  8. Bruce Kogut & Udo Zander, 1993. "Knowledge of the Firm and the Evolutionary Theory of the Multinational Corporation," Journal of International Business Studies, Palgrave Macmillan, vol. 24(4), pages 625-645, December.
  9. Leo Sleuwaegen, 1987. "Multinationals, the European Community and Belgium: Recent Developments," Journal of Common Market Studies, Wiley Blackwell, vol. 26(2), pages 255-272, December.
  10. M Krishna Erramilli & Sanjeev Agarwal & Seong-Soo Kim, 1997. "Are Firm-Specific Advantages Location-Specific Too?," Journal of International Business Studies, Palgrave Macmillan, vol. 28(4), pages 735-757, December.
  11. George Norman & John Dunning, 1984. "Intra-industry foreign direct investment: Its rationale and trade effects," Review of World Economics (Weltwirtschaftliches Archiv), Springer, vol. 120(3), pages 522-540, September.
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