全球智库信息集成服务系统(G2TT): DP7100 Capital Structure and Regulation: Do Ownership and Regulatory Independence Matter?

G2TT

来源类型	Discussion paper
规范类型	论文
来源ID	DP7100
	DP7100 Capital Structure and Regulation: Do Ownership and Regulatory Independence Matter?
	Yossi Spiegel; Bernardo Bortolotti; Laura Rondi; Carlo Cambini
发表日期	2008-12-23
出版年	2008
语种	英语
摘要	With a firm-level dataset, we study the location decision of all South Korean multinationals across China's regions between 1992 and 2004, taking into account spatial aspects. Our conditional logit estimates confirm previous studies that stress the agglomeration effects along industry and along national lines in firms' location choice. In particular, South Korean investors target the place where there are more firms irrespective of their nationality and, at the same time, more affiliates from South Korean multinationals. More importantly, we decompose these agglomeration effects into a pure agglomeration effect and an upstream and downstream (backward and forward) linkage effect. We find that the presence of upstream and downstream South Korean affiliates significantly increases the likelihood that a South Korean multinational invests there. At the same time, however, backward and forward linkages with the companies irrespective of their nationality do not seem to matter. As such, our analysis of investors' location choice brings together two perspectives: (backward and forward) linkages and agglomeration along national lines.
主题	International Trade and Regional Economics
关键词	Agglomeration Multinationals
URL	https://cepr.org/publications/dp7100
来源智库	Centre for Economic Policy Research (United Kingdom)
资源类型	智库出版物
条目标识符	http://119.78.100.153/handle/2XGU8XDN/535937
推荐引用方式 GB/T 7714	Yossi Spiegel,Bernardo Bortolotti,Laura Rondi,et al. DP7100 Capital Structure and Regulation: Do Ownership and Regulatory Independence Matter?. 2008.