• No results found

Appendix 1 Distribution of deals Appendices Psychic distance and the choice between brownfield and greenfield FDI - Master Thesis 33

N/A
N/A
Info
Downloaden
Protected

Academic year: 2021

Share "Appendix 1 Distribution of deals Appendices Psychic distance and the choice between brownfield and greenfield FDI - Master Thesis 33"

Copied!
10
0
0

Bezig met laden.... (Bekijk nu de volledige tekst)

Download het nu ( 10 pagina )

Hele tekst

(1)

Psychic distance and the choice between brownfield and greenfield FDI - Master Thesis

33

Appendices

Appendix 1 Distribution of deals

Table 1. Deal type * British equity percentage

British equity percentage

(2)

N Minimum Maximum Mean Deviation Variance Skewness Kurtosis Statistic Statistic Statistic Statistic Statistic Statistic Statistic Std. Error Statistic Std. Error

FDI type 233 0 1 ,48 ,501 ,251 ,078 ,159 -2,011 ,318

Multinational experience 156 1 4 3,55 ,845 ,713 -1,464 ,194 ,415 ,386

Asset size acquirer

(3)

Psychic distance and the choice between brownfield and greenfield FDI - Master Thesis

35

Appendix 3 Correlation, FDI – Psychic Distance

Table 3a. Correlations FDI – psychic distance

FDI stocks abroad from UK (average 1997 - 2003) Source:

UNCTAD Distance (km) Geographical Linguistic Distance Institutional Distance Distance Cultural Pearson Correlation 1 -,271 -,290 -,241 -,384(*)

Sig. (2-tailed) ,140 ,114 ,192 ,033

FDI stocks abroad from UK (average 1997 - 2003) Source: UNCTAD N 31 31 31 31 31 Pearson Correlation -,271 1 -,029 ,182 ,170 Sig. (2-tailed) ,140 ,877 ,328 ,359 Geographical Distance (km) N 31 31 31 31 31 Pearson Correlation -,290 -,029 1 ,093 ,535(**) Sig. (2-tailed) ,114 ,877 ,618 ,002 Linguistic Distance N 31 31 31 31 31 Pearson Correlation -,241 ,182 ,093 1 ,314 Sig. (2-tailed) ,192 ,328 ,618 ,086 Institutional Distance N 31 31 31 31 31 Pearson Correlation -,384(*) ,170 ,535(**) ,314 1 Sig. (2-tailed) ,033 ,359 ,002 ,086 Cultural Distance N 31 31 31 31 31

(4)

FDI stocks abroad from UK (average 1997 - 2003) Source:

UNCTAD Distance Cultural

Power distance

- difference Individualism - difference Masculinity - difference

Uncertainty avoidance - difference Pearson Correlation 1 -,384(*) -,341 -,476(**) ,196 -,134

Sig. (2-tailed) ,033 ,060 ,007 ,291 ,471

FDI stocks abroad from UK (average 1997 - 2003) Source: UNCTAD N 31 31 31 31 31 31 Pearson Correlation -,384(*) 1 ,680(**) ,793(**) ,288 ,494(**) Sig. (2-tailed) ,033 ,000 ,000 ,117 ,005 Cultural Distance N 31 31 31 31 31 31 Pearson Correlation -,341 ,680(**) 1 ,635(**) -,104 ,087 Sig. (2-tailed) ,060 ,000 ,000 ,579 ,641 Power distance – difference N 31 31 31 31 31 31 Pearson Correlation -,476(**) ,793(**) ,635(**) 1 -,041 ,073 Sig. (2-tailed) ,007 ,000 ,000 ,826 ,695 Individualism - difference N 31 31 31 31 31 31 Pearson Correlation ,196 ,288 -,104 -,041 1 ,037 Sig. (2-tailed) ,291 ,117 ,579 ,826 ,842 Masculinity - difference N 31 31 31 31 31 31 Pearson Correlation -,134 ,494(**) ,087 ,073 ,037 1 Sig. (2-tailed) ,471 ,005 ,641 ,695 ,842 Uncertainty avoidance - difference N 31 31 31 31 31 31

(5)

Psychic distance and the choice between brownfield and greenfield FDI - Master Thesis

37

Table 3c. Correlations FDI – institutional dimensions

FDI stocks abroad from UK (average 1997 - 2003) Source:

UNCTAD Institutional Distance accountability Voice and Political stability effectiveness Governance Regulatory quality Rule of law corruption Control of Pearson Correlation 1 -,241 ,403(*) ,140 ,370(*) ,366(*) ,376(*) ,375(*)

Sig. (2-tailed) ,192 ,025 ,453 ,040 ,043 ,037 ,038

FDI stocks abroad from UK (average 1997 - 2003) Source: UNCTAD N 31 31 31 31 31 31 31 31 Pearson Correlation -,241 1 -,833(**) -,722(**) -,952(**) -,939(**) -,919(**) -,926(**) Sig. (2-tailed) ,192 ,000 ,000 ,000 ,000 ,000 ,000 Institutional Distance N 31 31 31 31 31 31 31 31 Pearson Correlation ,403(*) -,833(**) 1 ,512(**) ,815(**) ,826(**) ,819(**) ,838(**) Sig. (2-tailed) ,025 ,000 ,003 ,000 ,000 ,000 ,000

Voice and accountability

N 31 31 31 31 31 31 31 31 Pearson Correlation ,140 -,722(**) ,512(**) 1 ,779(**) ,757(**) ,824(**) ,798(**) Sig. (2-tailed) ,453 ,000 ,003 ,000 ,000 ,000 ,000 Political stability N 31 31 31 31 31 31 31 31 Pearson Correlation ,370(*) -,952(**) ,815(**) ,779(**) 1 ,977(**) ,971(**) ,981(**) Sig. (2-tailed) ,040 ,000 ,000 ,000 ,000 ,000 ,000 Governance effectiveness N 31 31 31 31 31 31 31 31 Pearson Correlation ,366(*) -,939(**) ,826(**) ,757(**) ,977(**) 1 ,948(**) ,964(**) Sig. (2-tailed) ,043 ,000 ,000 ,000 ,000 ,000 ,000 Regulatory quality N 31 31 31 31 31 31 31 31 Pearson Correlation ,376(*) -,919(**) ,819(**) ,824(**) ,971(**) ,948(**) 1 ,989(**) Sig. (2-tailed) ,037 ,000 ,000 ,000 ,000 ,000 ,000 Rule of law N 31 31 31 31 31 31 31 31 Pearson Correlation ,375(*) -,926(**) ,838(**) ,798(**) ,981(**) ,964(**) ,989(**) 1 Sig. (2-tailed) ,038 ,000 ,000 ,000 ,000 ,000 ,000 Control of corruption N 31 31 31 31 31 31 31 31

(6)

Appendix 4 Multiple regression analysis, Psychic Distance – FDI

Table 4a. Model Summary

Model R R Square Adjusted R Square the Estimate Std. Error of

1 ,384(a) ,148 ,118 30001,27205

a Predictors: (Constant), Cultural Distance

Tabel 4b. ANOVA

Model Squares Sum of df Mean Square F Sig.

Regression 452794078 3,313 1 4527940783,313 5,031 ,033(a) Residual 261022134 14,415 29 900076324,635 1 Total 306301541 97,728 30

a Predictors: (Constant), Cultural Distance

b Dependent Variable: FDI stocks abroad from UK (average 1997 - 2003) Source: UNCTAD

Table 4c. Coefficients

Unstandardized

Coefficients Standardized Coefficients

Model B Std. Error Beta t Sig.

(Constant) 34544,609 10012,948 3,450 ,002

1

Cultural Distance -7500,463 3344,085 -,384 -2,243 ,033 a Dependent Variable: FDI stocks abroad from UK (average 1997 - 2003) Source: UNCTAD

Table 4d. Excluded Variables

Collinearity Statistics

Model Beta In t Sig. Correlation Partial Tolerance

Geographical

Distance (km) -,212(a) -1,226 ,230 -,226 ,971

Linguistic Distance -,118(a) -,573 ,571 -,108 ,713

1

Institutional Distance -,133(a) -,733 ,469 -,137 ,902 a Predictors in the Model: (Constant), Cultural Distance

b Dependent Variable: FDI stocks abroad from UK (average 1997 - 2003) Source: UNCTAD

(7)

Psychic distance and the choice between brownfield and greenfield FDI - Master Thesis

39

Appendix 5 Correlation analysis, Psychic Distance variables

Table 5. Correlations, psychic distance variables

Geographical distance Linguistic distance Institutional distance distance Cultural

Pearson Correlation 1 -,145 ,166 ,192 Sig. (2-tailed) ,262 ,193 ,161 Geographical distance N 63 62 63 55 Pearson Correlation -,145 1 ,092 ,396(**) Sig. (2-tailed) ,262 ,477 ,003 Linguistic distance N 62 62 62 55 Pearson Correlation ,166 ,092 1 ,275(*) Sig. (2-tailed) ,193 ,477 ,042 Institutional distance N 63 62 63 55 Pearson Correlation ,192 ,396(**) ,275(*) 1 Sig. (2-tailed) ,161 ,003 ,042 Cultural distance N 55 55 55 55

** Correlation is significant at the 0.01 level (2-tailed). * Correlation is significant at the 0.05 level (2-tailed).

(8)

Table 6a. Case Processing Summary

Unweighted Cases(a) N Percent

Included in Analysis 142 60,9 Missing Cases 91 39,1 Selected Cases Total 233 100,0 Unselected Cases 0 ,0 Total 233 100,0

a If weight is in effect, see classification table for the total number of cases.

Table 6b. Dependent Variable Encoding

Original Value Internal Value Brownfield investment

(40-60% shared entity) 0 Greenfield investment

(40-60% Joint Venture) 1

Table 6c. Classification Table

Predicted Deal type Observed Brownfield investment (40-60% shared entity) Greenfield investment (40-60% Joint Venture) Percentage Correct Brownfield investment (40-60% shared entity) 76 0 100,0 Deal type Greenfield investment (40-60% Joint Venture) 66 0 ,0 Step 0 Overall Percentage 53,5

a Constant is included in the model. b The cut value is ,500

Table 6d. Variables in the Equation

B S.E. Wald df Sig. Exp(B)

Step 0 Constant -,141 ,168 ,703 1 ,402 ,868

Table 6e Variables not in the Equation

Score df Sig.

Multinational experience 2,724 1 ,099

Asset size acquirer 2,829 1 ,093

Geographical distance ,912 1 ,339

Cultural distance 1,053 1 ,305

Institutional distance ,086 1 ,770

Step 0 Variables

Linguistic distance ,998 1 ,318

(9)

Psychic distance and the choice between brownfield and greenfield FDI - Master Thesis

41

Appendix 7 Sector distribution

Table 7. FDI type * Sector dummy

Sector dummy

Manufacturing Services Total

(10)

Appendix 8 Distribution FDI type – Multinational Experience

Table 8. FDI type * Multinational experience

Multinational experience

First time exit

Referenties

Download het nu ( PDF - 10 pagina - 118.30 KB )

GERELATEERDE DOCUMENTEN

The changing impact of cultural distance on FDI location choice

The results thus indicate that in these regions the learning effect as described by the Uppsala model weakened the negative effect of cultural distance on the

The effect of board nationality diversity on the relationship between institutional distance and entry mode choice

Besides nationality and tenure, there are other characteristics which impact entry mode choice directly and could have a moderating effect on the relationship between

Master Thesis The effect of judicial independence on the relation between corruption and economic growth

The effect of the Asian countries with a high level of judicial independence on the relation between the dependent and independent variable deteriorates the negative

Master Thesis The Effect of Psychic Distance on the Outflow of FDI from Developing Markets

Besides that, Schlegelmilch & Stottinger (1998) and Petersen & Pedersen (1996) indicate that psychic distance is a result of supposed business differences between the firms’

RESEARCH PROPOSAL Psychic distance, FDI market selection and Globalization

Subsequently, in our research we expect that the rapid development of technology and communication portals via globalization has redefined the impact that psychic

Master Thesis The impact of geographical distance and state characteristics on Foreign Direct Investment location choice in the United States

The correlation coefficient of the number of highway meters per square kilometer in a US state is significant at a one percent confidence level in the top 30 states dataset?. The

Appendices Appendix 1 Countries in the sample

This is because of a number of reasons: in some research the political variables are considered significant in some extent or provide some kind of predictive power

Master thesis Psychic distance and the choice between brownfield and greenfield FDI

This thesis studies the relation between the psychic distance dimensions; geographical-, linguistic-, cultural- and institutional distance, and the choice between