Abstract
ABSTRACTThis article applies “survival” analysis techniques to estimate and analyze the determinants of the initial outward foreign direct investment (OFDI) decision of manufacturing firms in India. Testing the self-selection hypothesis, semiparametric results based on both continuous and discrete-time hazard models support the hypotheses that firm size, total factor productivity, knowledge-based investments, export intensity, product differentiation, and cash flow are significantly related to early OFDI. Findings support the gradual internationalization process in which firms serve the foreign market via exports before engaging in OFDI. Controls for within-industry learning spillovers are found to be insignificant.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
