@article{73b10d6b1d274d69b573fe67e9202a04,
title = "Capital endowment, credit constraint and FDI: Analysis based on heterogeneous firms",
abstract = "To examine the impact of capital endowment and credit constraint on firms' FDI decisions, we build a model of investment portfolio based on heterogeneous firms setup. We find that financial factors matter for firms' internationalization. More capital endowment or less credit constraint lowers cutoff productivity for firms to do FDI.",
keywords = "FDI, capital endowment, credit constraint, heterogeneous firms, productivity",
author = "Li Junjiang and Lei Hou and Jiarui Zhang",
note = "Funding Information: Acknowledgements Lei Hou gratefully acknowledges funding under Bavarian Elite Aid Act (Bayerischen Elitef{\"o}rderungsgesetz, BayEFG) program. Jiarui Zhang thanks funding under China Scholarship Council. For helpful discussions, we thank the participants of International Economics Workshop, Macro Seminar and IO & Finance Seminar at University of Munich, Germany. Special thanks to Prof. Dr. Dalia Marin, Prof. Dr. Gerhard Illing, Prof. Dr. Monika Schnitzer, and Dr. Alexander Tarasov for their insightful comments. We also thank the two referees for their comments and suggestions.",
year = "2011",
month = mar,
doi = "10.1007/s11459-011-0122-8",
language = "English",
volume = "6",
pages = "55--75",
journal = "Frontiers of Economics in China",
issn = "1673-3444",
publisher = "John Wiley and Sons Inc.",
number = "1",
}
