Why Do Russian Firms Invest Abroad? A Firm Level Analysis
34 Pages Posted: 30 Jan 2015
Date Written: December 26, 2014
Abstract
This study explores the economic, geographical, cultural and institutional factors that have driven the Merger and Acquisition activities by Russian transnational corporations during the 1999-2012 period, with particular emphasis on the 2008 global financial crisis. Findings show that both push and the pull factors influence Russian firms’ investments. Their main motive appears to be market-seeking, followed by resource- and technology-acquisition, while efficiency does not appear to be a motivational factor. There is also evidence that Russian firms appear to be more active in the post-financial crisis period, preferring to invest in distant developed economies.
Keywords: FDI, Emerging Markets, Russia, Financial Crisis
JEL Classification: F23, G01, O53
Suggested Citation: Suggested Citation