Foreign exchange rates and FDI behavior of multinational enterprises: comparative analysis before and after the 1997 Korean financial crisis

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Title Foreign exchange rates and FDI behavior of multinational enterprises: comparative analysis before and after the 1997 Korean financial crisis
Author Min, Byung-Seong
Journal Name Journal of Asia Business Studies
Year Published 2010
Place of publication United Kingdom
Publisher Emerald Group Publishing
Abstract This paper investigates whether the investment strategies of multinational enterprises have changed as a result of the 1997 financial crisis in Korea. Estimation results using balanced panel data indicate that the investment decisions of global MNEs seem to have changed following the crisis. The crisis seems to have served as a 'cold shower' for MNEs making investment decisions, as they have taken exchange rate 'volatility' into account to a greater extent following the crisis. In contrast, there is no robust evidence that the investment decisions of foreign investors are closely correlated with the level of exchange rate, either before or after the crisis.
Peer Reviewed Yes
Published Yes
Publisher URI http://www.emeraldinsight.com/1558-7894.htm
Volume 4
Issue Number 2
Page from 100
Page to 108
ISSN 1558-7894
Date Accessioned 2010-12-06
Date Available 2011-01-25T02:20:08Z
Language en_AU
Faculty Griffith Business School
Subject International Business
URI http://hdl.handle.net/10072/35638
Publication Type Journal Articles (Refereed Article)
Publication Type Code c1

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