The trend of foreign direct investment movement: did unintended nation brand of legal-families play an instrumental role?

Tse, Chin-Bun and Kam, Oi-Yan (2018) The trend of foreign direct investment movement: did unintended nation brand of legal-families play an instrumental role? Journal of Business Research. (In Press)

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Abstract

Combining the suggestion from Fan (2006) that a nation can have a brand image without deliberating efforts of nation branding and the work from Klerman et al. (2011) on Colonial History and effects on legal systems, we view that legal-systems could be an unintended nation brand that could instrumentally affect foreign direct investment (FDI) activities. We classify 193 countries according to their Colonial History or no-Colonial History into 5 legal-families. Applying Generalised Methods of Moments (GMM) on a set of panel data, our empirical evidence shows that legal-families play an instrumental role in explaining FDI activities. The paper opens up a new ground of research on ‘unintended’ nation brand of which the nation branding literature largely focus on designed-nation-brand, and on FDI area in which we introduce a new determinant in addition to the traditional determinants that have been reported in the FDI literature.

Item Type: Article
Subjects: Business and finance > Accounting and finance > International and corporate finance
Business and finance > Business and management > International business
Depositing User: Chin-Bun Tse
Date Deposited: 22 Feb 2018 16:10
Last Modified: 23 Apr 2018 14:29
URI: http://repository.uwl.ac.uk/id/eprint/4436

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