New evidence on the link between exchange rates and asset-seeking acquisition FDI |
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| Institution: | 1. University of Iceland, 101 Reykjavík, Iceland;2. University of Iceland, Iceland;3. Birkbeck College, London, United Kingdom;1. Poznan University of Economics and Business, Poland;2. Adam Mickiewicz University, Poznan, Poland;1. Department of Economics, Waikato University, New Zealand;2. Facultad de Economía, Universidad del Rosario, Colombia;3. Department of Economics, University of Macedonia, Greece;1. Department of Chemistry, Purdue University, 560 Oval Drive, West Lafayette, IN 47906, USA;2. Purdue Institute of Immunology, Inflammation, and Infectious Diseases and the Department of Biological Sciences, Purdue University, 915 West State Street, West Lafayette, IN 47906, USA |
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| Abstract: | Blonigen (1997) proposes a link between exchange rates and foreign direct investment (FDI) motivated to acquire complementary assets (i.e., asset-seeking acquisition FDI). However, previous studies have only examined this hypothesis with acquisition FDI data from a country source that are mostly U.S. inbound. In this paper I examine the hypothesis using the acquisition FDI data from multiple country sources that are inbound for various countries. I find evidence in support of this hypothesis for U.S. inbound acquisition FDI from multiple country sources, but not inbound acquisition FDI for other various developed countries. |
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