National capital city location and subsidiary portfolio expansion: The negative effect of geographic distance to the capital city at inception on the speed of subsequent investments
Volume: 51, Issue: 7, Pages: 1107 - 1132
Published: Feb 28, 2020
Abstract
A multinational enterprise develops its subsidiary portfolio by investing in new foreign markets and subsequently pursuing further investments within these host countries. We find that firms which locate their first equity investment closer to the national capital city can subsequently expand their subsidiary portfolio within the host country at a higher speed. This effect is particularly strong in emerging economies. Further analyses of various...
Paper Details
Title
National capital city location and subsidiary portfolio expansion: The negative effect of geographic distance to the capital city at inception on the speed of subsequent investments
Published Date
Feb 28, 2020
Volume
51
Issue
7
Pages
1107 - 1132
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