{"id":"https://openalex.org/W2019790289","doi":"https://doi.org/10.1111/j.1467-6435.2009.00438.x","title":"What Drives Economic Growth? The Case of Cross\u2010Border M&A and Greenfield FDI Activities","display_name":"What Drives Economic Growth? The Case of Cross\u2010Border M&A and Greenfield FDI Activities","publication_year":2009,"publication_date":"2009-04-01","ids":{"openalex":"https://openalex.org/W2019790289","doi":"https://doi.org/10.1111/j.1467-6435.2009.00438.x","mag":"2019790289"},"language":"en","primary_location":{"id":"doi:10.1111/j.1467-6435.2009.00438.x","doi":"https://doi.org/10.1111/j.1467-6435.2009.00438.x","is_oa":false,"landing_page_url":"https://doi.org/10.1111/j.1467-6435.2009.00438.x","pdf_url":null,"source":{"id":"https://openalex.org/S91661715","display_name":"Kyklos","issn_l":"0023-5962","issn":["0023-5962","1467-6435"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","fnege-3","jufo-1","ki-jl-1","norway-1","poland-70","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Kyklos","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5102102551","display_name":"Miao Wang","orcid":"https://orcid.org/0009-0005-3151-0489","observed_orcids":["https://orcid.org/0009-0005-3151-0489"]},"institutions":[{"id":"https://openalex.org/I102461120","display_name":"Marquette University","ror":"https://ror.org/04gr4te78","country_code":"US","type":"education","lineage":["https://openalex.org/I102461120"]}],"countries":["US"],"is_corresponding":false,"raw_author_name":"Miao Wang","raw_affiliation_strings":["Marquette University, 606 N. 13th Street, Milwaukee, WI 53233, U.S.A.,"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Marquette University, 606 N. 13th Street, Milwaukee, WI 53233, U.S.A.,","institution_ids":["https://openalex.org/I102461120"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5027313836","display_name":"M. C. Sunny Wong","orcid":"https://orcid.org/0000-0002-1342-4318","observed_orcids":["https://orcid.org/0000-0002-1342-4318"]},"institutions":[{"id":"https://openalex.org/I102461120","display_name":"Marquette University","ror":"https://ror.org/04gr4te78","country_code":"US","type":"education","lineage":["https://openalex.org/I102461120"]},{"id":"https://openalex.org/I76766440","display_name":"University of San Francisco","ror":"https://ror.org/029m7xn54","country_code":"US","type":"education","lineage":["https://openalex.org/I76766440"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"M. C. Sunny Wong","raw_affiliation_strings":["* Miao Wang is an assistant professor at Marquette University, 606 N. 13th Street, Milwaukee, WI 53233, U.S.A. Email: [email protected] ; M. C. Sunny Wong is an assistant professor at the University of San Francisco, 2130 Fulton Street, San Francisco, CA 94117, U.S.A. Email: [email protected] . We would like to thank the editor, anonymous referees, Bruce Blonigen, Brian Brush, Jim Granato, Keiko Ito, Robert Lipsey, Frank Mixon, and Charles Sawyer for their comments and suggestions. This study was partially supported by the Center for Global and Economic Studies at Marquette University","University of San Francisco, 2130 Fulton Street, San Francisco, CA 94117, U.S.A","* Miao Wang is an assistant professor at Marquette University, 606 N. 13th Street, Milwaukee, WI 53233, U.S.A. Email: [email protected]","M. C. Sunny Wong is an assistant professor at the University of San Francisco, 2130 Fulton Street, San Francisco, CA 94117, U.S.A. Email: [email protected]. We would like to thank the editor, anonymous referees, Bruce Blonigen, Brian Brush, Jim Granato, Keiko Ito, Robert Lipsey, Frank Mixon, and Charles Sawyer for their comments and suggestions. This study was partially supported by the Center for Global and Economic Studies at Marquette University"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"* Miao Wang is an assistant professor at Marquette University, 606 N. 13th Street, Milwaukee, WI 53233, U.S.A. Email: [email protected] ; M. C. Sunny Wong is an assistant professor at the University of San Francisco, 2130 Fulton Street, San Francisco, CA 94117, U.S.A. Email: [email protected] . We would like to thank the editor, anonymous referees, Bruce Blonigen, Brian Brush, Jim Granato, Keiko Ito, Robert Lipsey, Frank Mixon, and Charles Sawyer for their comments and suggestions. This study was partially supported by the Center for Global and Economic Studies at Marquette University","institution_ids":["https://openalex.org/I102461120","https://openalex.org/I76766440"]},{"raw_affiliation_string":"University of San Francisco, 2130 Fulton Street, San Francisco, CA 94117, U.S.A","institution_ids":["https://openalex.org/I76766440"]},{"raw_affiliation_string":"* Miao Wang is an assistant professor at Marquette University, 606 N. 13th Street, Milwaukee, WI 53233, U.S.A. Email: [email protected]","institution_ids":["https://openalex.org/I102461120"]},{"raw_affiliation_string":"M. C. Sunny Wong is an assistant professor at the University of San Francisco, 2130 Fulton Street, San Francisco, CA 94117, U.S.A. Email: [email protected]. We would like to thank the editor, anonymous referees, Bruce Blonigen, Brian Brush, Jim Granato, Keiko Ito, Robert Lipsey, Frank Mixon, and Charles Sawyer for their comments and suggestions. This study was partially supported by the Center for Global and Economic Studies at Marquette University","institution_ids":["https://openalex.org/I102461120","https://openalex.org/I76766440"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":2,"corresponding_author_ids":["https://openalex.org/A5027313836"],"corresponding_institution_ids":["https://openalex.org/I102461120","https://openalex.org/I76766440"],"apc_list":{"value":3800,"currency":"USD","value_usd":3800},"apc_paid":null,"fwci":11.5286,"has_fulltext":false,"cited_by_count":155,"citation_normalized_percentile":{"value":0.97655089,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":96,"max":100},"biblio":{"volume":"62","issue":"2","first_page":"316","last_page":"330"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10415","display_name":"International Business and FDI","score":0.9926999807357788,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10415","display_name":"International Business and FDI","score":0.9926999807357788,"subfield":{"id":"https://openalex.org/subfields/1408","display_name":"Strategy and Management"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10393","display_name":"Economic Growth and Productivity","score":0.00559999980032444,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10128","display_name":"Global trade and economics","score":0.0005000000237487257,"subfield":{"id":"https://openalex.org/subfields/2000","display_name":"General Economics, Econometrics and Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/economic-growth","display_name":"economic growth","score":0.8529999852180481},{"id":"https://openalex.org/keywords/foreign-direct-investment","display_name":"foreign direct investment","score":0.8700000047683716},{"id":"https://openalex.org/keywords/cross-border-mergers-and-acquisitions","display_name":"cross-border mergers and acquisitions","score":0.9599999785423279},{"id":"https://openalex.org/keywords/greenfield-investment","display_name":"greenfield investment","score":0.9959999918937683},{"id":"https://openalex.org/keywords/fdi-entry-modes","display_name":"FDI entry modes","score":0.8820000290870667},{"id":"https://openalex.org/keywords/human-capital","display_name":"human capital","score":0.9549999833106995},{"id":"https://openalex.org/keywords/fdi-and-economic-growth","display_name":"FDI and growth relationship","score":0.6769999861717224}],"concepts":[{"id":"https://openalex.org/C126081937","wikidata":"https://www.wikidata.org/wiki/Q833406","display_name":"Greenfield project","level":3,"score":0.9093575477600098},{"id":"https://openalex.org/C33842695","wikidata":"https://www.wikidata.org/wiki/Q490513","display_name":"Foreign direct investment","level":2,"score":0.8671483993530273},{"id":"https://openalex.org/C27548731","wikidata":"https://www.wikidata.org/wiki/Q88272","display_name":"Investment (military)","level":3,"score":0.651408314704895},{"id":"https://openalex.org/C2776943663","wikidata":"https://www.wikidata.org/wiki/Q165687","display_name":"Human capital","level":2,"score":0.5459086894989014},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.5001389980316162},{"id":"https://openalex.org/C18547055","wikidata":"https://www.wikidata.org/wiki/Q47417","display_name":"International economics","level":1,"score":0.49125856161117554},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.4420667290687561},{"id":"https://openalex.org/C548217281","wikidata":"https://www.wikidata.org/wiki/Q731112","display_name":"Mergers and acquisitions","level":2,"score":0.4287107586860657},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.40495410561561584},{"id":"https://openalex.org/C155202549","wikidata":"https://www.wikidata.org/wiki/Q178803","display_name":"International trade","level":1,"score":0.3912610113620758},{"id":"https://openalex.org/C34447519","wikidata":"https://www.wikidata.org/wiki/Q179522","display_name":"Market economy","level":1,"score":0.19606220722198486},{"id":"https://openalex.org/C139719470","wikidata":"https://www.wikidata.org/wiki/Q39680","display_name":"Macroeconomics","level":1,"score":0.11636313796043396},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.0871427059173584},{"id":"https://openalex.org/C94625758","wikidata":"https://www.wikidata.org/wiki/Q7163","display_name":"Politics","level":2,"score":0.07780665159225464},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.0},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0}],"mesh":[],"locations_count":3,"locations":[{"id":"doi:10.1111/j.1467-6435.2009.00438.x","doi":"https://doi.org/10.1111/j.1467-6435.2009.00438.x","is_oa":false,"landing_page_url":"https://doi.org/10.1111/j.1467-6435.2009.00438.x","pdf_url":null,"source":{"id":"https://openalex.org/S91661715","display_name":"Kyklos","issn_l":"0023-5962","issn":["0023-5962","1467-6435"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a","anvur-class-a","anvur-scientific","cwts-core","fnege-3","jufo-1","ki-jl-1","norway-1","poland-70","russia-white-list-1","vabb-shw"],"host_organization":"https://openalex.org/P4310320595","host_organization_name":"Wiley","host_organization_lineage":["https://openalex.org/P4310320595"],"host_organization_lineage_names":["Wiley"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Kyklos","raw_type":"journal-article"},{"id":"pmh:oai:epublications.marquette.edu:econ_fac-1108","doi":null,"is_oa":false,"landing_page_url":"https://epublications.marquette.edu/econ_fac/108","pdf_url":null,"source":{"id":"https://openalex.org/S4306401682","display_name":"e-Publications@Marquette (Marquette University)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I102461120","host_organization_name":"Marquette University","host_organization_lineage":["https://openalex.org/I102461120"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Economics Faculty Research and Publications","raw_type":"text"},{"id":"pmh:oai:RePEc:bla:kyklos:v:62:y:2009:i:2:p:316-330","doi":null,"is_oa":false,"landing_page_url":"http://www.blackwell-synergy.com/links/doi/10.1111/j.1467-6435.2009.00438.x","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"article"}],"best_oa_location":null,"sustainable_development_goals":[{"score":0.9211000204086304,"display_name":"Decent work and economic growth","id":"https://metadata.un.org/sdg/8"}],"study_designs":[],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":29,"referenced_works":["https://openalex.org/W3706496","https://openalex.org/W1510265308","https://openalex.org/W1527139717","https://openalex.org/W1541914996","https://openalex.org/W1606377008","https://openalex.org/W1975830170","https://openalex.org/W2010486206","https://openalex.org/W2014446376","https://openalex.org/W2020520709","https://openalex.org/W2029257392","https://openalex.org/W2077904179","https://openalex.org/W2112352537","https://openalex.org/W2116837842","https://openalex.org/W2117691354","https://openalex.org/W2129301332","https://openalex.org/W2130576498","https://openalex.org/W2132696046","https://openalex.org/W2146377913","https://openalex.org/W2150498686","https://openalex.org/W2161746517","https://openalex.org/W2166666343","https://openalex.org/W2325530759","https://openalex.org/W2899293844","https://openalex.org/W3022337859","https://openalex.org/W3023714059","https://openalex.org/W3121420420","https://openalex.org/W3121711391","https://openalex.org/W3123888140","https://openalex.org/W4256189180"],"related_works":["https://openalex.org/W3125221038","https://openalex.org/W2734677730","https://openalex.org/W1512695088","https://openalex.org/W7098776998","https://openalex.org/W1559262618","https://openalex.org/W3020832966","https://openalex.org/W2601967039","https://openalex.org/W2805590433","https://openalex.org/W4412780522","https://openalex.org/W1512451513"],"abstract_inverted_index":{"SUMMARY":[0],"The":[1],"effect":[2],"of":[3,26,51,59,72,109],"aggregate":[4],"foreign":[5],"direct":[6],"investment":[7,30,74,81,91],"(FDI)":[8],"on":[9,46,87],"economic":[10,88,93],"growth":[11,49,70,94],"remains":[12],"uncertain":[13],"in":[14],"the":[15,24,41,69,102],"literature.":[16],"We":[17,77],"revisit":[18],"this":[19],"FDI\u2013Growth":[20],"relation":[21],"by":[22,44],"analyzing":[23],"components":[25],"FDI":[27,53],"\u2013":[28],"greenfield":[29,73,80],"and":[31,34,75,82],"cross\u2010border":[32],"mergers":[33],"acquisitions":[35],"(M&As).":[36],"Our":[37,112],"analysis":[38],"contributes":[39],"to":[40,64],"existing":[42],"literature":[43],"focusing":[45],"potentially":[47],"heterogeneous":[48],"effects":[50,71],"different":[52,85],"entry":[54],"modes.":[55],"Using":[56],"a":[57],"sample":[58],"84":[60],"countries":[61],"from":[62],"1987":[63],"2001,":[65],"we":[66],"separately":[67],"examine":[68],"M&As.":[76],"find":[78],"that":[79],"M&As":[83,96,118],"have":[84],"impacts":[86],"growth.":[89],"Greenfield":[90],"promotes":[92],"while":[95],"can":[97],"be":[98],"beneficial":[99],"only":[100],"when":[101,119],"host":[103],"country":[104],"has":[105],"an":[106],"adequate":[107],"level":[108],"human":[110,125],"capital.":[111],"results":[113],"provide":[114],"support":[115],"for":[116,124],"receiving":[117],"policymakers":[120],"allocate":[121],"more":[122],"resources":[123],"capital":[126],"accumulation.":[127]},"counts_by_year":[{"year":2026,"cited_by_count":3},{"year":2025,"cited_by_count":11},{"year":2024,"cited_by_count":12},{"year":2023,"cited_by_count":20},{"year":2022,"cited_by_count":11},{"year":2021,"cited_by_count":7},{"year":2020,"cited_by_count":8},{"year":2019,"cited_by_count":11},{"year":2018,"cited_by_count":13},{"year":2017,"cited_by_count":10},{"year":2016,"cited_by_count":8},{"year":2015,"cited_by_count":8},{"year":2014,"cited_by_count":6},{"year":2013,"cited_by_count":13},{"year":2012,"cited_by_count":3}],"updated_date":"2026-10-27T15:51:10.671819","created_date":"2016-06-24T00:00:00"}
