Herding in foreign direct investment

Levis, M., Muradoglu, Y.G. and Vasileva, K. 2023. Herding in foreign direct investment. International Review of Financial Analysis. 86 (March 2023) 102503. https://doi.org/10.1016/j.irfa.2023.102503

TitleHerding in foreign direct investment
TypeJournal article
AuthorsLevis, M., Muradoglu, Y.G. and Vasileva, K.
Abstract

This paper, to our knowledge, is the first to examine herding in foreign direct investment (FDI). We investigate it from two perspectives, first the number of countries investing in the host country and then the dollar volumes of those investments. Our results provide strong evidence of herding in FDI. We also show herding in the divestures of these investors. We show that herding in FDI is related to host country characteristics and governance parameters.

KeywordsForeign direct investment
Herding
Panel data
Article number102503
JournalInternational Review of Financial Analysis
Journal citation86 (March 2023)
ISSN1873-8079
1057-5219
Year2023
PublisherElsevier
Publisher's version
License
CC BY 4.0
File Access Level
Open (open metadata and files)
Digital Object Identifier (DOI)https://doi.org/10.1016/j.irfa.2023.102503
Web address (URL)https://www.sciencedirect.com/science/article/pii/S1057521923000194
Publication dates
Published online24 Jan 2023
Published in printMar 2023

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