KCG Working Papers

KCG Working Paper No. 8: How Global is FDI? Evidence from the Analysis of Theil Indices

31st December 2017
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Authors: Frank Bickenbach, Wan-Hsin Liu and Peter Nunnenkamp

It is open to question whether the intensified worldwide competition for FDI has reduced its traditionally strong concentration in a few large and relatively advanced host countries We calculate and decompose Theil indices to track changes in absolute and relative concentration of FDI during the period 1970-2013[…]

KCG Working Paper No. 4: Export Market Exit and Financial Health in Crises Periods

19th October 2017
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Authors: Holger Görg and Marina-Eliza Spaliara

This paper uses rich firm-level data for the UK to investigate the link between firms’ financial health and export exit, paying attention to the ERM currency crisis and the global financial crisis. Our results show that deterioration in the financial position of firms has increased the hazard of export exit during the 2007-09 crisis but has no significant effect on the early 1990s crisis. We also explore the extent to which firms in financially vulnerable industries face greater sensitivity of export exit to financial conditions. We conclude that firms in sectors with great reliance on external finance experience higher hazards of exiting the export market during the 2007-09 crisis..[…]

KCG Working Paper No. 3: South-South FDI: Is It Really Different?

26th May 2017
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Authors: Robert Gold, Holger Görg, Aoife Hanley and Adnan Seric

We compare the performance of Northern and Southern multinationals in Sub-Saharan Africa, and contrast it with local firms in the host country. Employing unique firm level data for 19 Sub-Saharan African countries, we show that firms receiving FDI outperform domestic ones, while the origin of the foreign investor is of minor importance. We use four different definitions of “South” to compare Northern and Southern FDI. Overall, we do not find strong differences in terms of firm productivity growth between Northern and Southern FDI, irrespective of how the latter is defined. We also find that employment growth is generally higher for firms receiving FDI from other African investors as compared to Northern FDI, and they also receive more technology transfer from their parent company abroad.

KCG Working Paper No. 2: Firms’ Global Engagement and Management Practices

27th April 2017
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Authors: Holger Görg and Aoife Hanley

We investigate whether firms’ "global engagement", either in the form of exporting or opening up affiliates abroad, is related to the change in their management performance. We use new and unique data from a recent large scale firm survey of management practices in Germany. We calculate management scores for firms as in Bloom et al. (2013), which indicate how structured management is in a given firm .[…]

KCG Working Paper No. 1: When Do Multinational Companies Consider Corporate Social Responsibility?

1st November 2016
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Authors:
Holger Görg, Aoife Hanley, Stefan Hoffmann and Adnan Seric

While African countries are becoming more and more relevant as host countries for suppliers of multinational companies little is known about corporate social responsibility (CSR) in this region.To fill this gap, the present paper explores CSR considerations of foreign affiliates of multinational companies when choosing local African suppliers.[…]