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oai:docta.ucm.es:20.500.14352/1982025-07-17T16:59:57Zcom_20.500.14352_14col_20.500.14352_15

Fariñas García, José Carlos Martín Marcos, Ana Velázquez Angona, Francisco Javier 2023-06-15T07:49:11Z 2023-06-15T07:49:11Z 2018 0378-5920 10.1111/twec.12613 https://hdl.handle.net/20.500.14352/198 https://doi.org/10.1111/twec.12613 This paper offers an empirical assessment of the multinational activity of European firms. It takes the predictions of models of firm heterogeneity and FDI activity as a reference to explore the characteristics of multinational firms from 30 European countries. We use an original dataset, based on ORBIS, which links information of parent-affiliate pairs of firms. Our results show that more productive firms have greater multinational activity in terms of both scope, the number of foreign markets where they invest, and scale, the volume of local sales by subsidiaries active in foreign markets. The estimation of gravity equations shows that country characteristics that encourage multinational activity successively induce the entry of less productive parent firms. We confirm this asymmetry for the following variables: GDPs of the home and host countries, distance, contiguity and having a common colonial history.) eng restricted access Multinational activity of European firms and heterogeneity journal article