An information-based trade off between foreign direct investment and foreign portfolio investment
نویسندگان
چکیده
منابع مشابه
An information-based trade off between foreign direct investment and foreign portfolio investment
The paper develops a model of foreign direct investments (FDI) and foreign portfolio investments (FPI). FDI enables the owner to obtain refined information about the firm. This superiority, relative to FPI, comes with a cost: a firm owned by the FDI investor has a low resale price because of asymmetric information between the owner and potential buyers. The model can explain several stylized fa...
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ژورنال
عنوان ژورنال: Journal of International Economics
سال: 2006
ISSN: 0022-1996
DOI: 10.1016/j.jinteco.2005.12.002