..., there are researchers defining or classifying a financial centre using other perspectives (Roberts, 1994). McCarthy (1979) , from a teleological point of view, makes a useful distinction between a paper centre and a functional centre. A paper centre is defined as a location for recording financial transactions...

... findings which focus on developed home countries. The authors also find that such effect is stronger for Taiwanese FDI in China than in other countries and in traditional sectors than in modern sectors. Originality/value These findings suggest that location‐and industry‐specific characteristics...