Please use this identifier to cite or link to this item: http://hdl.handle.net/10397/68318
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dc.contributorSchool of Accounting and Financeen_US
dc.creatorXu, Xen_US
dc.creatorVoon, JPen_US
dc.creatorShang, Yen_US
dc.date.accessioned2017-07-29T08:45:06Z-
dc.date.available2017-07-29T08:45:06Z-
dc.identifier.issn0003-6846en_US
dc.identifier.urihttp://hdl.handle.net/10397/68318-
dc.language.isoenen_US
dc.publisherRoutledge, Taylor & Francis Groupen_US
dc.rights© 2016 Informa UK Limited, trading as Taylor & Francis Groupen_US
dc.rightsThis is an Accepted Manuscript of an article published by Taylor & Francis in Applied Economics on 29 Sep 2016 (published online), available at: http://www.tandfonline.com/10.1080/00036846.2016.1237754en_US
dc.subjectFDIen_US
dc.subjectProperty rights institutionen_US
dc.subjectContracting institutionen_US
dc.titleUnbundling institutional determinants of multinational investmentsen_US
dc.typeJournal/Magazine Articleen_US
dc.identifier.spage2269en_US
dc.identifier.epage2285en_US
dc.identifier.volume49en_US
dc.identifier.issue23en_US
dc.identifier.doi10.1080/00036846.2016.1237754en_US
dcterms.abstractPrevious studies often examined how a broad-based institution affects foreign direct investment (FDI) flows across countries. However, analysis of differential impacts of two or more constituent institutions within a broad-based institution appears to be more useful for policy decision-making. There is a paucity of studies on how constituent institutions within a broad measure of institution affect FDI across countries. Our article constitutes the first attempt in bridging this gap. In this article, we examine the relative effects of property rights institution (PI) and contracting institution (CI) on investment flows. Our results show that PI is much more important than CI in determining the cross-border flows of FDI and affiliate sales. Moreover, PI is found to be more important for FDI than for affiliate sales, indicating that final goods are less of a concern for being expropriated by governments and powerful elites than capital goods. Through unbundling a broad-based institution and examining how the constituent institutions affect investments flows, our article provides practical location decisions for investments in FDI, mergers and acquisitions (M&A) and affiliate sales.en_US
dcterms.accessRightsopen accessen_US
dcterms.bibliographicCitationApplied economics, 2017, v. 49, no. 23, p. 2269-2285en_US
dcterms.isPartOfApplied economicsen_US
dcterms.issued2017-
dc.identifier.isiWOS:000396795200006-
dc.identifier.ros2016006070-
dc.source.typeArticleen
dc.identifier.eissn1466-4283en_US
dc.identifier.rosgroupid2016005812-
dc.description.ros2016-2017 > Academic research: refereed > Publication in refereed journalen_US
dc.description.validate201804_a bcmaen_US
dc.description.oaAccepted Manuscripten_US
dc.identifier.FolderNumberAF-0156-
dc.description.fundingSourceOthersen_US
dc.description.fundingTextHong Kong Polytechnic University: [Grant Number G-UC99]en_US
dc.description.pubStatusPublisheden_US
dc.identifier.OPUS6681724-
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