In this paper we re-examine the regional determinants of FDI in China using both total FDI flows, and FDI flows disaggregated by entry mode. Building on both the FDI location and entry mode choice literatures, we argue for the existence of mode-specific location advantages, and test for their existence. We first specify and estimate a location model of aggregate FDI flows to Chinese regions. Us...

In addition to corporate executives, venture capitalists (VCs) have been receiving hot IPO shares from investment banks. The cozy relationship between VCs and investment banks calls in question of the well-documented certification role of VCs in IPO market. Using IPO data from 1988 through 1999, we document strong empirical evidence against the certification role of VCs. Instead, we find that V...