Footloose Multinationals in Belgium? |
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Authors: | Ilke Van Beveren |
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Institution: | (1) Department of Business Studies, Lessius Hogeschool Antwerp and Catholic University of Leuven (KUL), Korte Nieuwstraat 33, 2000 Antwerp, Belgium |
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Abstract: | Using firm level panel data for the years 1996–2001, covering all sectors of the economy, the impact of multinational ownership
on the exit decisions of firms located in Belgium is estimated. In this analysis, I clearly distinguish for nationality of
ownership, allowing for differences between firms that are foreign-owned and multinationals rooted in the domestic economy.
Controlling for various firm- and industry-specific factors, it is found that while foreign multinationals are more likely
to shut down operations compared to national firms in both manufacturing and service sectors, domestic multinationals only
exhibit significantly higher exit rates in the manufacturing industries. The analysis has important policy implications, especially
in terms of the desirability of the large impact of multinational firms on employment and output generation in Belgium.
JEL no. D21, F23, L20, L25 |
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Keywords: | Exit duration multinational firms nationality of ownership |
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