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Five decades of research on foreign direct investment by MNEs: An overview and research agenda
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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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“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.”
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Metadata
- 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)
- PMC
- PMC7151309
- OpenAlex
- W3015493597
- Cited by
- 401
- References
- 223
- Citations by year
- 2026: 42 · 2025: 88 · 2024: 82 · 2023: 68 · 2022: 72 · 2021: 37
- FWCI
- 50.58
- Type
- journal article
- Language
- en
- Open access
- green
- www.ncbi.nlm.nih.gov
- 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 › Economics, Econometrics and Finance › Finance › Corporate Finance and Governance
- Keywords
- foreign direct investment, multinational corporations, FDI theory, international business research, research agenda
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