Year: 2001
Title:
Exports, export mode, manufacturing firms
JEL: F23
Authors:
F. Merino, PIE-FEP & Universidad de Alcala
V. Salas, Universidad de Zaragoza
Abstract:
The relationship between firm-specific assets and internationalisation in Spanish Manufacturers Research on the internationalisation of business firms has investigated the decision to export and the volume of sales abroad, independently of the decision about the exporting mode. This paper presents a unified theoretical framework to integrate the two decisions, which departs from imperfect competition, sunk costs and transaction costs. The model provides an explanation to the empirical evidence on the incremental stages of internationalisation followed by many firms. The main hypothesis is tested with data from Spanish exporters and the results confirm that asset specificity is the underlying factor that justifies the degree of internationalisation, specially for small and medium size firms.
Keywords:
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Contact address: merino at funep.es
Paper URL: http://ftp.funep.es/pie/dt0001.pdf
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