Industrial clusters,entrepreneurial culture and the social environment: The effects on FDI distribution |
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| Authors: | Antonio Majocchi Manuela Presutti |
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| Affiliation: | 1. Dipartimento Ricerche Aziendali, Facoltà di Economia, Università di Pavia, Via S. Felice, 7, I-27100 Pavia, Italy;2. Dipartimento di Scienze Aziendali, Facoltà di Economia, Università di Bologna, Via Capo di Lucca, 32, 40123 Bologna, Italy;1. University of Paderborn, Department of International Business, Warburger Strasse 100, 33098 Paderborn, Germany;2. University of Duesseldorf, Faculty of Business Administration and Economics Chair of Management, Universitaetsstrasse 1, 40225 Duesseldorf, Germany;3. University of Giessen, Department of Human Resource Management, Small- and Medium-Sized Enterprises, and Entrepreneurship, Licher Str. 62, 35394 Giessen, Germany;1. Manchester Metropolitan University, United Kingdom;2. Uppsala University, Sweden;3. University of Richmond, United States;1. Department of Business Administration, College of Economics and Management, Yanbian University, 977 Gongyuan Road, Yanji 133002, China;2. Department of Marketing, College of Business, Florida State University, 821 Academic Way, Tallahassee, FL 32306-1110, United States;1. Department of Economics and Commerce, University of Sahiwal, Opposite Farid Town, Sahiwal, Pakistan;2. Department of Economics, Government College University Faisalabad, Allama Iqbal Road, Faisalabad, 38000, Pakistan;3. School of Economics and Management, North China University of Technology, No. 5 Jinyuanzhuang Road, Beijing, 100144, China;1. Department of Business Studies, Uppsala University, Box 513, 751 20 Uppsala, Sweden;2. Department of Business Administration, Public University of Navarre, Campus Arrosadía s/n, 31006 Pamplona, Navarre, Spain |
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| Abstract: | Using balance sheet data from a sample of 3498 foreign firms in the manufacturing industry we analyse the distribution of foreign direct investments (FDI) in Italy at a very detailed geographical level, i.e. the provincial level, a region which comprises an urban area and the limited geographical area surrounding it. In this paper, we test the impact that agglomeration economies, entrepreneurial culture and social capital have on the distribution of foreign investments. While the findings regarding the social variables are mixed, the important role played by agglomeration economies is confirmed. Our analysis shows that investments by multinationals are attracted by those areas that combine industrial cluster characteristics with an agglomeration of foreign firms and that have a high level of entrepreneurial culture. The role that this last variable plays is fundamental and suggests the idea that multinational corporations (MNCs) invest in regions with entrepreneurial resources. |
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