The effects of institutional distance on FDI inflow: General environmental institutions (GEI) versus minority investor protection institutions (MIP)

被引：76

作者：

Choi, Jongmoo Jay ^{[1
]}

Lee, Sang Mook ^{[3
]}

Shoham, Amir ^{[1
,2
]}

机构：

[1] Temple Univ, Fox Sch Business, Philadelphia, PA 19422 USA

[2] Coll Management Acad Studies, Sch Business Adm, Haifa, Israel

[3] Penn State Great Valley, Management Div, Malvern, PA 19355 USA

来源：

INTERNATIONAL BUSINESS REVIEW | 2016年 / 25卷 / 01期

关键词：

FDI; General environmental institution; Institutional distance; International acquisitions; Minority investor protection; FOREIGN DIRECT-INVESTMENT; CROSS-BORDER; CULTURAL DISTANCE; MERGERS; DETERMINANTS; DIVERSIFICATION; ACQUISITIONS; PERFORMANCE; INTEGRATION; INEQUALITY;

D O I：

10.1016/j.ibusrev.2014.11.010

中图分类号：

F [经济];

学科分类号：

020101 [政治经济学];

摘要：

Existing research suggests that foreign direct investment (FDI) flows into countries with good institutional infrastructure. We distinguish between general environmental institutions (GEI) that promote societal interests at large, and minority investor protection (MIP) institutions that promote the interests of a specific group, and argue that these types of institutions affect international investments differently. We tested this hypothesis by examining the effects of institutional distance on international M&A activities of US firms during 1981-2008. We found that better GEI in the host country attracts inflowing EDI while better MIP may discourage it, because of the perception that it reduces the potential gain an acquiring firm can earn from an international acquisition in that country. (C) 2014 Elsevier Ltd. All rights reserved.

引用

页码：114 / 123

页数：10

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