Multinationals and plant survival |
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Authors: | Roger Bandick |
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Institution: | (1) Institute of Business and Technology & Department of Economics at Aarhus School of Business, University of Aarhus, Birk Centerpark 15, 7400 Herning, Denmark |
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Abstract: | The aim of this paper is twofold: first, to investigate how different ownership structures affect plant survival, and second,
to analyze how the presence of foreign multinational enterprises (MNEs) affects domestic plants’ survival. Using a unique
and detailed data set on the Swedish manufacturing sector, I am able to separate plants into those owned by foreign MNEs,
domestic MNEs, exporting non-MNEs, and purely domestic firms. In line with previous findings, the result, when conditioned
on other factors affecting survival, shows that foreign MNE plants have lower survival rates than non-MNE plants. However,
separating the non-MNEs into exporters and non-exporters, the result shows that foreign MNE plants have higher survival rates
than non-exporting non-MNEs, while the survival rates of foreign MNE plants and exporting non-MNE plants do not seem to differ.
Moreover, the simple non-parametric estimates show that domestic MNE plants are more likely to exit the market than other
plants, also when controlling for plant-specific differences. Finally, foreign presence in the market seems to have had a
negative impact on the survival rate of plants in non-exporting non-MNEs, but not to have affected plants in exporting non-MNEs
or plants in domestic MNEs. |
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