Firm and Industry Determinants of the Decision to Invest Abroad: An Empirical Study

T HIS paper presents the results of an empirical study of the distinguishing characteristics of United States manufacturing corporations with foreign subsidiaries. My conclusions are drawn from two sets of data: the first covers 1191 manufacturing corporations, 576 of which owned a majority interest in a Canadian subsidiary in 1967. My second set of data, a subset of the first, covers Fortune's 500 largest industrial corporations, 187 of which...