TY - JOUR
T1 - An event study analysis of outward foreign direct investment: the case of Greece
AU - Demos, Antonis
AU - Filippaios, Fragkiskos
AU - Papanastassiou, Marina
PY - 2004/11/1
Y1 - 2004/11/1
N2 - The purpose of this article is twofold. Firstly, by applying the event study methodology, it provides detailed and updated evidence on the value generating effect of different modes of foreign direct investment (FDI) entry. Secondly, this is the first paper to empirically evaluate the impact of FDI on the stock returns of Greek firms participating in the Athens Stock Exchange (ASE). In the case of Greece, the cross‐section analysis revealed that successful outward FDI projects tend to be located in developed countries, performed in a high‐technology sector and linked to horizontal integration.
AB - The purpose of this article is twofold. Firstly, by applying the event study methodology, it provides detailed and updated evidence on the value generating effect of different modes of foreign direct investment (FDI) entry. Secondly, this is the first paper to empirically evaluate the impact of FDI on the stock returns of Greek firms participating in the Athens Stock Exchange (ASE). In the case of Greece, the cross‐section analysis revealed that successful outward FDI projects tend to be located in developed countries, performed in a high‐technology sector and linked to horizontal integration.
UR - http://www.scopus.com/inward/record.url?eid=2-s2.0-10844291636&partnerID=MN8TOARS
U2 - 10.1080/1357151042000286438
DO - 10.1080/1357151042000286438
M3 - Article
SN - 1357-1516
VL - 11
SP - 329
EP - 348
JO - International Journal of the Economics of Business
JF - International Journal of the Economics of Business
IS - 3
ER -