Time to BRIC It? - Internationalization of European Family Firms in Europe, North America and the BRIC Countries
14 Pages Posted: 18 Jun 2013
Date Written: May 2, 2013
For a sample of 1243 European companies, we analyse the link between firm type and foreign direct investment (FDI) locations. We find substantial empirical evidence that being a family firm does not only affect the overall propensity for FDI but that this effect is also specific to target regions. Overall, family firms invest more than managerial-led firms, particularly in Europe and North America. Furthermore the BRIC countries Brazil, Russia, India and China do not constitute a homogenous attractiveness cluster for FDI.
Keywords: foreign direct investment, family firms, BRIC
JEL Classification: D21, F23, L22
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