In this paper we investigate the choice of Joint-Venture versus Wholly Foreign-Owned Enterprise (WFOE), made by Italian, Spanish and Swiss multinationals in China, as shaped by the risk of Dissipation of Intangible Assets. Probit estimates, based on an entirely new firm-level dataset, constructed by the author, show that WFOE is more likely to emerge when know-how easily spills over - namely for firms endowed with more Intangible Assets or belonging to high tech sectors - in lines with the theoretical expectations.
Gattai, V. (2008). A Tale of Three Countries: Italian, Spanish and Swiss Manufacturing Operations in China. WORLD ECONOMY, 31(8), 969-992 [10.1111/j.1467-9701.2008.01111.x].
A Tale of Three Countries: Italian, Spanish and Swiss Manufacturing Operations in China
GATTAI, VALERIA
2008
Abstract
In this paper we investigate the choice of Joint-Venture versus Wholly Foreign-Owned Enterprise (WFOE), made by Italian, Spanish and Swiss multinationals in China, as shaped by the risk of Dissipation of Intangible Assets. Probit estimates, based on an entirely new firm-level dataset, constructed by the author, show that WFOE is more likely to emerge when know-how easily spills over - namely for firms endowed with more Intangible Assets or belonging to high tech sectors - in lines with the theoretical expectations.
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