Country-Level Analysis: Results

Laura Vanoli Parietti (University of Fribourg, Switzerland)

Internationalization of Firms: The Role of Institutional Distance on Location and Entry mode

ISBN: 978-1-78714-135-3, eISBN: 978-1-78714-134-6

Publication date: 14 February 2017

pdf (66 KB) ePub (1.2 MB)

Citation

Parietti, L.V. (2017), "Country-Level Analysis: Results", Internationalization of Firms: The Role of Institutional Distance on Location and Entry mode, Emerald Publishing Limited, Leeds, pp. 165-175. https://doi.org/10.1108/978-1-78714-134-320171006

Publisher

:

Emerald Publishing Limited

Table A.1:

Correlation Matrix of Variables.

	LID_inf	LID_f	INST_qual	LGDP_home	LGDP	LPATENT	LTERT	LWAGE	LNAT_RES	LGEO_dist	LOPEN	LIMP	LEXP	LINFL	LER
LID_inf	1
LID_f	−0.163*	1
INST_qual	0.166*	−0.487***	1
LGDP_home	0.116	−0.105	0.0581	1
LGDP	−0.0899	0.192**	−0.353***	−0.136	1
LPATENT	−0.207**	0.0973	−0.155	−0.210**	0.837***	1
LTERT	0.130	−0.332***	0.305***	0.166*	−0.286***	−0.295***	1
LWAGE	−0.0573	−0.606***	0.295***	0.0627	−0.116	0.0774	0.375***	1
LNAT_RES	−0.0989	−0.179*	0.121	−0.0257	0.130	0.141	−0.128	0.0167	1
LGEO_dist	−0.131	0.130	0.141	−0.132	0.115	0.481***	−0.315***	−0.186*	0.180*	1
LOPEN	0.143	−0.453***	0.196**	0.136	−0.507***	−0.371***	0.317***	0.590***	−0.421***	−0.200**	1
LIMP	−0.232**	−0.0473	−0.284***	0.0182	0.564***	0.381***	−0.0724	0.373***	−0.232**	−0.475***	0.0780	1
LEXP	−0.165*	0.0199	−0.298***	−0.0503	0.718***	0.619***	0.0265	0.217**	−0.308***	−0.191**	−0.0377	0.828***	1
LINFL	0.0515	0.292***	0.000982	0.217**	−0.0681	−0.116	−0.305***	−0.387***	0.196**	0.220**	−0.0903	−0.268***	−0.262***	1
LER	−0.118	0.0571	−0.0616	0.0837	0.0233	0.0860	−0.0943	−0.0404	0.0160	0.139	−0.0320	−0.0519	0.0264	0.117	1

Level of significance: *p<0.10; **p<0.05; ***p<0.01.

Table A.2:

Results for Swiss OFDI Determinants, Total Sample with Alternative ID Measures, RE Estimations.

	(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)	(10)	(11)	(12)	(13)	(14)
LOFDI_tot	MD-KS	MD-ED	MD-PCA	MD-FA	KS-MD	KS-KS	KS-ED	KS-PCA	KS-FA	ED-MD	ED-KS	ED-ED	ED-PCA	ED-FA
LMD_inf	−0.632**	−0.632**	−0.704**	−0.706**
	(0.304)	(0.304)	(0.300)	(0.300)
LKS_inf					−0.360***	−0.317***	−0.317***	−0.364***	−0.365***
					(0.116)	(0.116)	(0.116)	(0.112)	(0.112)
LED_inf										−0.709***	−0.634***	−0.634***	−0.728***	−0.729***
										(0.230)	(0.232)	(0.232)	(0.225)	(0.225)
LMD_f					−0.170					−0.171
					(0.158)					(0.158)
LMD_qual					0.0983					0.0976
					(0.237)					(0.236)
LKS_f	−0.112					−0.101					−0.101
	(0.0814)					(0.0826)					(0.0826)
LKS_qual	0.0157					0.00921					0.00921
	(0.102)					(0.100)					(0.100)
LED_f		−0.225					−0.203					−0.203
		(0.163)					(0.165)					(0.165)
LED_qual		0.0314					0.0184					0.0184
		(0.203)					(0.201)					(0.201)
LPCA_f			−0.0454					−0.0331					−0.0331
			(0.0531)					(0.0500)					(0.0500)
LPCA_qual			0.0663**					0.0590*					0.0590*
			(0.0332)					(0.0308)					(0.0308)
LFA_f				−0.0425					−0.0302					−0.0302
				(0.0533)					(0.0503)					(0.0503)
LFA_qual				0.0647*					0.0575*					0.0575*
				(0.0331)					(0.0309)					(0.0309)
INST_qual	0.0843	0.0561	0.125	0.177*	0.0427	0.0671	0.0506	0.126*	0.172*	0.0430	0.0671	0.0506	0.126*	0.172*
	(0.390)	(0.213)	(0.0791)	(0.0971)	(0.0796)	(0.385)	(0.210)	(0.0732)	(0.0900)	(0.0795)	(0.385)	(0.210)	(0.0732)	(0.0900)
LGDP_home	1.295***	1.295***	1.307***	1.305***	1.219***	1.300***	1.300***	1.310***	1.308***	1.219***	1.300***	1.300***	1.310***	1.308***
	(0.289)	(0.289)	(0.302)	(0.302)	(0.289)	(0.292)	(0.292)	(0.304)	(0.304)	(0.289)	(0.292)	(0.292)	(0.304)	(0.304)
LGDP	1.077***	1.077***	1.050***	1.049***	1.044***	1.067***	1.067***	1.039***	1.038***	1.045***	1.067***	1.067***	1.039***	1.038***
	(0.203)	(0.203)	(0.214)	(0.214)	(0.207)	(0.203)	(0.203)	(0.214)	(0.214)	(0.207)	(0.203)	(0.203)	(0.214)	(0.214)
LPATENT	−0.0387	−0.0387	−0.0158	−0.0155	−0.0308	−0.0506	−0.0506	−0.0322	−0.0320	−0.0296	−0.0506	−0.0506	−0.0322	−0.0320
	(0.121)	(0.121)	(0.126)	(0.126)	(0.121)	(0.120)	(0.120)	(0.126)	(0.126)	(0.121)	(0.120)	(0.120)	(0.126)	(0.126)
LTERT	0.0217	0.0217	0.0411	0.0415	0.0543	0.0360	0.0360	0.0572	0.0577	0.0522	0.0360	0.0360	0.0572	0.0577
	(0.221)	(0.221)	(0.223)	(0.223)	(0.224)	(0.227)	(0.227)	(0.229)	(0.229)	(0.224)	(0.227)	(0.227)	(0.229)	(0.229)
LWAGE	0.0429	0.0429	0.0588	0.0593	0.0459	0.0366	0.0366	0.0507	0.0512	0.0459	0.0366	0.0366	0.0507	0.0512
	(0.0558)	(0.0558)	(0.0586)	(0.0587)	(0.0575)	(0.0539)	(0.0539)	(0.0551)	(0.0552)	(0.0575)	(0.0539)	(0.0539)	(0.0551)	(0.0552)
LNAT_RES	−0.0626	−0.0626	−0.0576	−0.0575	−0.0580	−0.0632	−0.0632	−0.0577	−0.0576	−0.0581	−0.0632	−0.0632	−0.0577	−0.0576
	(0.0461)	(0.0461)	(0.0467)	(0.0467)	(0.0453)	(0.0465)	(0.0465)	(0.0470)	(0.0470)	(0.0453)	(0.0465)	(0.0465)	(0.0470)	(0.0470)
LGEO_dist	−0.238*	−0.238*	−0.258*	−0.259*	−0.227*	−0.213*	−0.213*	−0.227*	−0.227*	−0.228*	−0.213*	−0.213*	−0.227*	−0.227*
	(0.127)	(0.127)	(0.137)	(0.136)	(0.133)	(0.128)	(0.128)	(0.137)	(0.137)	(0.133)	(0.128)	(0.128)	(0.137)	(0.137)
LOPEN	0.584***	0.584***	0.637***	0.638***	0.604***	0.575***	0.575***	0.621***	0.621***	0.604***	0.575***	0.575***	0.621***	0.621***
	(0.149)	(0.149)	(0.147)	(0.147)	(0.142)	(0.152)	(0.152)	(0.151)	(0.151)	(0.142)	(0.152)	(0.152)	(0.151)	(0.151)

N	309	309	305	305	315	309	309	305	305	315	309	309	305	305
r2_o	0.782	0.782	0.775	0.775	0.781	0.783	0.783	0.777	0.777	0.780	0.783	0.783	0.777	0.777

Notes: The models are specified by the informal ID-formal ID measures used in the regression. MD=Mahalanobis distance; KS=Kogut & Singh distance; ED=Euclidean distance; PCA=Absolute distance based on the index created via PCA; FA=Absolute distance based on the index created via FA. N is the number of observations and r2_o the overall R².

Clustered robust standard errors in parentheses. *p<0.10; ***p<0.05; ***p<0.01.

Table A.3:

Results for Swiss OFDI determinants, Manufacturing sample with alternative ID measures, RE estimations

	(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)	(10)	(11)	(12)	(13)	(14)
LOFDI_man	MD-KS	MD-ED	MD-PCA	MD-FA	KS-MD	KS-KS	KS-ED	KS-PCA	KS-FA	ED-MD	ED-KS	ED-ED	ED-PCA	ED-FA
LMD_inf	−0.152	−0.152	−0.161	−0.161
	(0.158)	(0.158)	(0.137)	(0.137)
LKS_inf					−0.122*	−0.111	−0.111	−0.107*	−0.107*
					(0.0711)	(0.0740)	(0.0740)	(0.0623)	(0.0623)
LED_inf										−0.225	−0.222	−0.222	−0.214*	−0.214*
										(0.140)	(0.148)	(0.148)	(0.125)	(0.125)
LMD_f					0.164					0.164
					(0.164)					(0.164)
LMD_qual					−0.161					−0.163
					(0.284)					(0.282)
LKS_f	0.0243					0.0301					0.0301
	(0.0665)					(0.0647)					(0.0647)
LKS_qual	0.00459					0.00483					0.00483
	(0.100)					(0.101)					(0.101)
LED_f		0.0485					0.0603					0.0603
		(0.133)					(0.129)					(0.129)
LED_qual		0.00918					0.00967					0.00967
		(0.200)					(0.202)					(0.202)
LPCA_f			−0.0381					−0.0334					−0.0334
			(0.0426)					(0.0413)					(0.0413)
LPCA_qual			0.0898***					0.0888***					0.0888***
			(0.0288)					(0.0287)					(0.0287)
LFA_f				−0.0378					−0.0331					−0.0331
				(0.0426)					(0.0413)					(0.0413)
LFA_qual				0.0897***					0.0887***					0.0887***
				(0.0288)					(0.0288)					(0.0288)
INST_qual	0.335	0.327	0.420***	0.492***	0.343***	0.342	0.334	0.424***	0.496***	0.342***	0.342	0.334	0.424***	0.496***
	(0.414)	(0.245)	(0.0917)	(0.0972)	(0.0989)	(0.417)	(0.246)	(0.0918)	(0.0975)	(0.0988)	(0.417)	(0.246)	(0.0918)	(0.0975)
LGDP_home	0.734***	0.734***	0.761***	0.761***	0.742***	0.738***	0.738***	0.765***	0.764***	0.741***	0.738***	0.738***	0.765***	0.764***
	(0.276)	(0.276)	(0.282)	(0.282)	(0.261)	(0.276)	(0.276)	(0.282)	(0.282)	(0.262)	(0.276)	(0.276)	(0.282)	(0.282)
LGDP	1.110***	1.110***	1.136***	1.136***	1.160***	1.104***	1.104***	1.129***	1.129***	1.160***	1.104***	1.104***	1.129***	1.129***
	(0.188)	(0.188)	(0.200)	(0.200)	(0.193)	(0.186)	(0.186)	(0.198)	(0.198)	(0.193)	(0.186)	(0.186)	(0.198)	(0.198)
LPATENT	−0.0661	−0.0661	−0.0856	−0.0856	−0.0787	−0.0735	−0.0735	−0.0927	−0.0927	−0.0768	−0.0735	−0.0735	−0.0927	−0.0927
	(0.141)	(0.141)	(0.146)	(0.146)	(0.144)	(0.141)	(0.141)	(0.146)	(0.146)	(0.145)	(0.141)	(0.141)	(0.146)	(0.146)
LTERT	0.178	0.178	0.167	0.167	0.171	0.188	0.188	0.174	0.174	0.169	0.188	0.188	0.174	0.174
	(0.172)	(0.172)	(0.167)	(0.167)	(0.194)	(0.171)	(0.171)	(0.164)	(0.164)	(0.195)	(0.171)	(0.171)	(0.164)	(0.164)
LWAGE	0.0860	0.0860	0.0740	0.0741	0.0850	0.0823	0.0823	0.0702	0.0703	0.0854	0.0823	0.0823	0.0702	0.0703
	(0.0691)	(0.0691)	(0.0619)	(0.0619)	(0.0665)	(0.0663)	(0.0663)	(0.0593)	(0.0593)	(0.0669)	(0.0663)	(0.0663)	(0.0593)	(0.0593)
LNAT_RES	−0.00844	−0.00844	−0.0105	−0.0105	−0.0228	−0.0101	−0.0101	−0.0124	−0.0124	−0.0227	−0.0101	−0.0101	−0.0124	−0.0124
	(0.0449)	(0.0449)	(0.0428)	(0.0428)	(0.0478)	(0.0449)	(0.0449)	(0.0427)	(0.0427)	(0.0479)	(0.0449)	(0.0449)	(0.0427)	(0.0427)
LGEO_dist	−0.267**	−0.267**	−0.255**	−0.255**	−0.234**	−0.254**	−0.254**	−0.243**	−0.243**	−0.236**	−0.254**	−0.254**	−0.243**	−0.243**
	(0.105)	(0.105)	(0.107)	(0.107)	(0.110)	(0.107)	(0.107)	(0.108)	(0.108)	(0.110)	(0.107)	(0.107)	(0.108)	(0.108)
LOPEN	0.450***	0.450***	0.414***	0.414***	0.471***	0.442***	0.442***	0.403***	0.403***	0.473***	0.442***	0.442***	0.403***	0.403***
	(0.116)	(0.116)	(0.0960)	(0.0961)	(0.107)	(0.115)	(0.115)	(0.0965)	(0.0965)	(0.108)	(0.115)	(0.115)	(0.0965)	(0.0965)

N	240	240	236	236	246	240	240	236	236	246	240	240	236	236
r2_o	0.819	0.819	0.832	0.832	0.816	0.823	0.823	0.836	0.836	0.814	0.823	0.823	0.836	0.836

Notes: The models are specified by the informal ID-formal ID measures used in the regression. MD=Mahalanobis distance; KS=Kogut & Singh distance; ED=Euclidean distance; PCA=Absolute distance based on the index created via PCA; FA=Absolute distance based on the index created via FA. N is the number of observations and r2_o the overall R^2.

Clustered robust standard errors in parentheses (by host countries). *p<0.10; **p<0.05; ***p<0.01.

Table A.4:

Results for Swiss OFDI determinants, Services sample with alternative ID measures, RE estimations

	(1)	(2)	(3)	(4)	(5)	(6)	(7)	(8)	(9)	(10)	(11)	(12)	(13)	(14)
LOFDI_serv	MD-KS	MD-ED	MD-PCA	MD-FA	KS-MD	KS-KS	KS-ED	KS-PCA	KS-FA	ED-MD	ED-KS	ED-ED	ED-PCA	ED-FA
LMD_inf	−0.771**	−0.771**	−0.855**	−0.855**
	(0.347)	(0.347)	(0.337)	(0.337)
LKS_inf					−0.464***	−0.378***	−0.378***	−0.456***	−0.456***
					(0.151)	(0.142)	(0.142)	(0.146)	(0.146)
LED_inf										−0.920***	−0.755***	−0.755***	−0.911***	−0.911***
										(0.301)	(0.283)	(0.283)	(0.292)	(0.292)
LMD_f					−0.373**					−0.374**
					(0.174)					(0.173)
LMD_qual					0.841**					0.839**
					(0.335)					(0.334)
LKS_f	−0.240***					−0.227***					−0.227***
	(0.0763)					(0.0783)					(0.0783)
LKS_qual	0.132					0.115					0.115
	(0.234)					(0.234)					(0.234)
LED_f		−0.479***					−0.454***					−0.454***
		(0.153)					(0.157)					(0.157)
LED_qual		0.265					0.229					0.229
		(0.468)					(0.467)					(0.467)
LPCA_f			−0.0269					−0.00893					−0.00893
			(0.0732)					(0.0703)					(0.0703)
LPCA_qual			−0.0270					−0.0378					−0.0378
			(0.0915)					(0.0893)					(0.0893)
LFA_f				−0.0261					−0.00814					−0.00814
				(0.0731)					(0.0701)					(0.0701)
LFA_qual				−0.0279					−0.0387					−0.0387
				(0.0915)					(0.0894)					(0.0894)
INST_qual	0.226	−0.0112	−0.276	−0.299	−0.254*	0.170	−0.0355	−0.277	−0.309	−0.253*	0.170	−0.0355	−0.277	−0.309
	(0.977)	(0.564)	(0.272)	(0.338)	(0.145)	(0.979)	(0.567)	(0.262)	(0.328)	(0.145)	(0.979)	(0.567)	(0.262)	(0.328)
LGDP_home	1.438***	1.438***	1.445***	1.444***	1.310***	1.459***	1.459***	1.463***	1.462***	1.310***	1.459***	1.459***	1.463***	1.462***
	(0.410)	(0.410)	(0.440)	(0.440)	(0.419)	(0.417)	(0.417)	(0.447)	(0.447)	(0.419)	(0.417)	(0.417)	(0.447)	(0.447)
LGDP	1.152***	1.152***	1.021***	1.021***	1.021***	1.112***	1.112***	0.981***	0.981***	1.023***	1.112***	1.112***	0.981***	0.981***
	(0.205)	(0.205)	(0.256)	(0.256)	(0.228)	(0.208)	(0.208)	(0.257)	(0.257)	(0.228)	(0.208)	(0.208)	(0.257)	(0.257)
LPATENT	−0.132	−0.132	−0.0362	−0.0361	−0.0789	−0.135	−0.135	−0.0499	−0.0498	−0.0771	−0.135	−0.135	−0.0499	−0.0498
	(0.111)	(0.111)	(0.148)	(0.148)	(0.132)	(0.117)	(0.117)	(0.152)	(0.152)	(0.132)	(0.117)	(0.117)	(0.152)	(0.152)
LTERT	−0.469	−0.469	−0.398	−0.397	−0.384	−0.460	−0.460	−0.383	−0.383	−0.388	−0.460	−0.460	−0.383	−0.383
	(0.353)	(0.353)	(0.375)	(0.375)	(0.377)	(0.366)	(0.366)	(0.388)	(0.388)	(0.377)	(0.366)	(0.366)	(0.388)	(0.388)
LWAGE	−0.0601	−0.0601	−0.0201	−0.0200	−0.0518	−0.0703	−0.0703	−0.0329	−0.0328	−0.0520	−0.0703	−0.0703	−0.0329	−0.0328
	(0.0710)	(0.0710)	(0.0841)	(0.0841)	(0.0736)	(0.0682)	(0.0682)	(0.0779)	(0.0779)	(0.0734)	(0.0682)	(0.0682)	(0.0779)	(0.0779)
LGEO_dist	−0.203	−0.203	−0.254	−0.254	−0.237	−0.174	−0.174	−0.213	−0.213	−0.238	−0.174	−0.174	−0.213	−0.213
	(0.156)	(0.156)	(0.180)	(0.180)	(0.167)	(0.159)	(0.159)	(0.182)	(0.182)	(0.166)	(0.159)	(0.159)	(0.182)	(0.182)
LOPEN	0.541***	0.541***	0.696***	0.696***	0.573***	0.522***	0.522***	0.665***	0.665***	0.574***	0.522***	0.522***	0.665***	0.665***
	(0.155)	(0.155)	(0.166)	(0.166)	(0.153)	(0.159)	(0.159)	(0.166)	(0.166)	(0.153)	(0.159)	(0.159)	(0.166)	(0.166)

N	248	248	244	244	254	248	248	244	244	254	248	248	244	244
r2_o	0.666	0.666	0.638	0.638	0.697	0.665	0.665	0.643	0.643	0.696	0.665	0.665	0.643	0.643

Notes: The models are specified by the informal ID-formal ID measures used in the regression. MD=Mahalanobis distance; KS=Kogut & Singh distance; ED=Euclidean distance; PCA=Absolute distance based on the index created via PCA; FA=Absolute distance based on the index created via FA. N is the number of observations and r2_o the overall R².

Clustered robust standard errors in parentheses (by host countries). *p<0.10; **p<0.05; ***p<0.01.

Book Chapters

Prelims

Chapter 1 Institutional Distance: Conceptualization and Measurements

Chapter 2 Institutional Distance, Location, and Entry Mode Choice: Theoretical Foundations

Chapter 3 Institutional Distance and Location Choice of Swiss FDI: A Country-Level Analysis

Chapter 4 Institutional Distance, Location, and Entry Mode Choice of Swiss FDI: A Firm-Level Analysis

Conclusion

Appendix A Country-Level Analysis: Results

Appendix B Firm-Level Analysis: Results

Appendix C KOF Questionnaire on Internationalization of Swiss Firms, 2014

Bibliography

Index

Citation

Publisher

Book Chapters

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