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UK direct investment in the United States: a mode of entry analysis

Nisbet, Peter and Thomas, Wayne and Barrett, Stuart (2003) UK direct investment in the United States: a mode of entry analysis. International journal of the economics of business, 10 (3). pp. 1357-1516. ISSN 1357-1516

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This article investigates the reasons underlying the high propensity of UK firms to directly invest in the United States via acquisition and merger. Using a binomial logit model, this study analyses data from 142 firms in five industrial sectors over the period 1984-1994. Together, these sectors account for more than 80% of UK foreign direct investment (FDI) in the sample period. The results highlight the role of diversification in explaining this behaviour. In contrast, the relative lack of evidence to support the role of exchange rates and leverage in influencing the decision to merge/acquire continues to fuel division as to the role of capital market imperfections in determining mode of entry.

Item Type: Article
Additional Information: Full-text of this article is not available in this e-prints service. This article was originally published following peer-review in International Journal of the Economics of Business, published by and copyright Routledge.
Divisions: Legacy Research Institutes > Research Institute for Business and Management (RIBM) > Strategy, Entrepreneurship and International Business (SEIB)
Faculties > Faculty of Business and Law > Strategy, Entrepreneurship and International Business
DOI: 10.1080/1357151032000126229
Date Deposited: 16 Nov 2009 14:10
Last Modified: 28 Nov 2016 11:53
URI: http://e-space.mmu.ac.uk/id/eprint/86238

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