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オガワ エイジ
OGAWA Eiji
小川 英治 所属 東京経済大学 経済学部 職種 教授 |
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| 言語種別 | 英語 |
| 発行・発表の年月 | 2024/02 |
| 形態種別 | 研究論文（大学，研究機関等紀要） |
| 査読 | 査読あり |
| 標題 | Firms' Internationalization Decisions and Demand Learning |
| 執筆形態 | 共著 |
| 掲載誌名 | RIETI Discussion Paper Series |
| 掲載区分 | 国内 |
| 巻・号・頁 | (24-E-019) |
| 総ページ数 | 32 |
| 担当区分 | 最終著者 |
| 著者・共著者 | Naoki Tani and Eiji Ogawa |
| 概要 | This study investigates the rationale for firms to establish foreign affiliates without export experience
in the affiliate destinations despite facing demand uncertainty. As over half of Japanese firms start their first internationalization process through foreign direct investment (FDI), we attempt to explain this pattern by developing a statistical decision-making model in which firms make decisions about entering foreign markets via FDI or exports under demand uncertainty. Our model incorporates the proximity-concentration tradeoff and the demand-learning mechanism through which firms predict their demand level based on information about the number and average productivity of their neighbors. We analytically show that demand-learning from neighbors affects firms' entry and exit decisions regarding FDI. We provide supporting evidence for the main predictions of the model by using a rich micro-level dataset of Japanese multinational firms. |