On the behavior of global multinational enterprises during the 1997 Asian financial crisis

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Title On the behavior of global multinational enterprises during the 1997 Asian financial crisis
Author Min, Byung-Seong; Rhim, Jong C.; Friesner, Dan; Cashel-Cordo, Peter
Journal Name The Journal of Economic Development and Business Policy
Editor Matthew Q. McPherson
Year Published 2007
Place of publication USA
Publisher Gonzaga University, the University of Sourthern Indiana and the Academy of Business Economics
Abstract In this paper, we examine the impact that the 1997 financial crisis had on the number and value of investments made by global multinational enterprises in Korea. Prior to the onset of the crisis, our results indicate that the real value of investments made by MNEs were primarily motivated by the sharp drop in value of the host economy's currency and imports. MNE decisions regarding the number of FDI differed substantially by country. US and Japanese MNEs decisions were largely motivated by labor strike and import considerations, while UK and French MNEs were guided primarily by exchange rate and institutional factors. After the the onset of the crisis, Japanese MNEs took a very conservative approach to Korean FDI, both in terms of the number and value of projects. US, UK and French MNEs adopted a 'stop and go' approach to FDI, particularly in terms of the real value of projects.
Peer Reviewed No
Published Yes
Volume 1
Page from 52
Page to 89
ISSN NA
Date Accessioned 2008-02-22
Language en_AU
Faculty Griffith Business School
Subject International Economics and International Finance
URI http://hdl.handle.net/10072/19064
Publication Type Non Refereed Journal Articles
Publication Type Code c2

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