{"title":"东道国腐败与日本对外直接投资:部门和行业层面的分析","authors":"Andrzej Cieślik , Michael Ryan","doi":"10.1016/j.mulfin.2023.100820","DOIUrl":null,"url":null,"abstract":"<div><p><span>Japan regained its status as the world’s largest source of outward FDI in 2018. This paper studies the relationship between host country corruption and Japanese outward manufacturing and service FDI into 179 countries for the years 1995–2019. Employing a negative binomial model, we find that host country corruption is negatively associated with Japanese </span>MNE activity at both aggregated, sectoral and industry-levels. Moreover, we do not identify major industry-level FDI determinant differences at the global level as both sectors and industries appear driven by market seeking motives. In contrast, the factor endowment variables signaling vertical FDI showed little if any statistical significance.</p></div>","PeriodicalId":47268,"journal":{"name":"Journal of Multinational Financial Management","volume":"70 ","pages":"Article 100820"},"PeriodicalIF":2.9000,"publicationDate":"2023-09-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Host country corruption and Japanese outward foreign direct investment: A sectoral and industry-level analysis\",\"authors\":\"Andrzej Cieślik , Michael Ryan\",\"doi\":\"10.1016/j.mulfin.2023.100820\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><p><span>Japan regained its status as the world’s largest source of outward FDI in 2018. This paper studies the relationship between host country corruption and Japanese outward manufacturing and service FDI into 179 countries for the years 1995–2019. Employing a negative binomial model, we find that host country corruption is negatively associated with Japanese </span>MNE activity at both aggregated, sectoral and industry-levels. Moreover, we do not identify major industry-level FDI determinant differences at the global level as both sectors and industries appear driven by market seeking motives. In contrast, the factor endowment variables signaling vertical FDI showed little if any statistical significance.</p></div>\",\"PeriodicalId\":47268,\"journal\":{\"name\":\"Journal of Multinational Financial Management\",\"volume\":\"70 \",\"pages\":\"Article 100820\"},\"PeriodicalIF\":2.9000,\"publicationDate\":\"2023-09-12\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Journal of Multinational Financial Management\",\"FirstCategoryId\":\"96\",\"ListUrlMain\":\"https://www.sciencedirect.com/science/article/pii/S1042444X23000397\",\"RegionNum\":3,\"RegionCategory\":\"经济学\",\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q2\",\"JCRName\":\"BUSINESS, FINANCE\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Multinational Financial Management","FirstCategoryId":"96","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1042444X23000397","RegionNum":3,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"BUSINESS, FINANCE","Score":null,"Total":0}
Host country corruption and Japanese outward foreign direct investment: A sectoral and industry-level analysis
Japan regained its status as the world’s largest source of outward FDI in 2018. This paper studies the relationship between host country corruption and Japanese outward manufacturing and service FDI into 179 countries for the years 1995–2019. Employing a negative binomial model, we find that host country corruption is negatively associated with Japanese MNE activity at both aggregated, sectoral and industry-levels. Moreover, we do not identify major industry-level FDI determinant differences at the global level as both sectors and industries appear driven by market seeking motives. In contrast, the factor endowment variables signaling vertical FDI showed little if any statistical significance.
期刊介绍：
International trade, financing and investments have grown at an extremely rapid pace in recent years, and the operations of corporations have become increasingly multinationalized. Corporate executives buying and selling goods and services, and making financing and investment decisions across national boundaries, have developed policies and procedures for managing cash flows denominated in foreign currencies. These policies and procedures, and the related managerial actions of executives, change as new relevant information becomes available. The purpose of the Journal of Multinational Financial Management is to publish rigorous, original articles dealing with the management of the multinational enterprise. Theoretical, conceptual, and empirical papers providing meaningful insights into the subject areas will be considered. The following topic areas, although not exhaustive, are representative of the coverage in this Journal. • Foreign exchange risk management • International capital budgeting • Forecasting exchange rates • Foreign direct investment • Hedging strategies • Cost of capital • Managing transaction exposure • Political risk assessment • International working capital management • International financial planning • International tax management • International diversification • Transfer pricing strategies • International liability management • International mergers.
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