Cited by 401International Business and FDIInnovation and Knowledge ManagementCorporate Finance and Governance

Five decades of research on foreign direct investment by MNEs: An overview and research agenda

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Paul, Justin, Feliciano-Cestero, María M.·2021·Journal of Business Research

Abstract

Despite the significance attached to foreign direct investment (FDI) by Multinational enterprises (MNEs), there are is no comprehensive review of the FDI literature. Moreover, those that have been published, focus on subsets of FDI. This review systematically examines the empirical as well as theoretical research on FDI through an analysis of 500 articles published during the last five decades. Theoretical models, methods, context, and contributions to scholarship were reviewed. We strive to highlight the key theories, paradigms, and articles and provide directions for future research. We conclude that FDI has evolved as the most significant area of international business.

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Crossref · 10.1016/j.jbusres.2020.04.017

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  • Only empirical papers based on data collected from a sample should be considered for country-wise synthesis.

    “As per Paul and Feliciano-Cestero (2021), only empirical papers that are based on data collected from a sample should be considered for country-wise synthesis.”

    From Electronic shopping cart abandonment: What do we know and where should we be heading? (2024) · cites this paper as Paul and Feliciano-Cestero, 2021

    The Methodology section says the review initially incorporated empirical papers using statistical techniques with primary or secondary data. It does not prescribe using only sample-based empirical papers for country-wise synthesis; it also says selected high-impact theoretical articles were included. (LLM, conf=0.79)

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3 of the 223 references couldn’t be matched to a known paper.

Research works printed but not linked: 8

  1. Blonigen B.A. A review of the empirical determinants of FDI Atlantic Economic Journal 33 1 2005 383 403
  2. Calvet A.L. A synthesis of FDI theories and theories of the multinational firm Journal of International Business Studies 12 1 1981 43 59
  3. Cannon S. Summers L.H. How Uber and the sharing economy can win over regulators Harvard Business Review 13 10 2014 24 28
  4. Mudambi R. Spikes, blocs, and the “death of distance” Journal of International Business Studies 39 6 2008 1091 1093
  5. Mutti J. Grubert H. Empirical Asymmetries in the Responsiveness of FDI to Taxation Journal of International Economics 2004 [In press]
  6. Ramamurti R. Singh J.V. Emerging multinationals in emerging markets 2009 Cambridge University Press Cambridge
  7. Shen-biao P. Miao-zhi Y. Causality test on the FDI and environment pollution in Jiang-su, Zhe-jiang and Shanghai [J] International Trade Journal 12 2005
  8. United Nations Conference On Trade And Development (UNCTAD). (2015). World Investment Report: Reforming International Investment Governance. United Nations Publications: Geneva.

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Authors
Paul, J., & Feliciano-Cestero, M. M.
Affiliations
University of Puerto Rico System (PR)
Corresponding author
Feliciano-Cestero, María M.
Venue
Journal of Business Research
Publisher
Elsevier BV
Published
2021-01
Volume
124
Pages
800-812
ISSN
0148-2963 (ISSN-L)
OpenAlex
W3015493597
Cited by
401
References
223
Citations by year
2026: 42 · 2025: 88 · 2024: 82 · 2023: 68 · 2022: 72 · 2021: 37 · 2020: 12
FWCI
50.58
Type
journal article
Language
en
Open access
Locations
  • Journal of Business Research (publishedVersion)
  • PubMed Central (publishedVersion)
  • PubMed (publishedVersion)
  • RePEc: Research Papers in Economics (submittedVersion)
Topics
  • Social Sciences › Business, Management and Accounting › Strategy and Management › International Business and FDI
  • Social Sciences › Business, Management and Accounting › Strategy and Management › Innovation and Knowledge Management
  • Social Sciences › Business, Management and Accounting › Accounting › Corporate Finance and Governance
Keywords
foreign direct investment, multinational corporations, FDI theory, international business research, research agenda

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