Logit estimates with robust standard errors
| Dependent variable: OFDI Dummy | ||||||||
|---|---|---|---|---|---|---|---|---|
| Variables | Model 1 | Model 2 | Model 3 | Model 4 | ||||
| Pop. pol. leader | --- | −0.356** | (0.129) | --- | −0.329** | (0.128) | ||
| Pop. pol. party | --- | --- | 0.035** | (0.015) | 0.029* | (0.015) | ||
| Inst. env. home | 0.353*** | (0.104) | 0.287** | (0.104) | 0.571*** | (0.147) | 0.481** | (0.152) |
| Ec. performance home | 0.097*** | (0.017) | 0.081*** | (0.017) | 0.131*** | (0.025) | 0.111*** | (0.025) |
| Infrastructure home | −0.517*** | (0.093) | −0.549*** | (0.095) | −0.593*** | (0.101) | −0.615*** | (0.105) |
| Common colony | −0.269** | (0.099) | −0.236* | (0.097) | −0.261** | (0.099) | −0.231** | (0.097) |
| Common language | 0.012 | (0.043) | −0.021 | (0.045) | 0.002 | (0.043) | −0.027 | (0.044) |
| Distance | −0.042* | (0.022) | −0.043* | (0.022) | −0.042* | (0.021) | −0.042* | (0.022) |
| Trade openness host | 0.545*** | (0.156) | 0.518*** | (0.157) | 0.527*** | (0.156) | 0.504*** | (0.157) |
| FDI openness host | 0.088** | (0.028) | 0.089** | (0.028) | 0.086** | (0.028) | 0.087** | (0.157) |
| Economic size host | 0.013 | (0.011) | 0.009 | (0.011) | 0.011 | (0.012) | 0.008 | (0.012) |
| International Experience | 0.153*** | (0.013) | 0.156*** | (0.013) | 0.154*** | (0.013) | 0.156*** | (0.013) |
| Capex scale | −0.161 | (0.131) | −0.157 | (0.129) | −0.162 | (0.131) | −0.159 | (0.129) |
| Industry | Yes | Yes | Yes | Yes | ||||
| Constant | −6.997*** | (0.864) | −6.141*** | (0.891) | −7.951*** | (0.987) | −7.017*** | (1.027) |
| Observations | 29,391 | 29,391 | 29,391 | 29,391 | ||||
| Log pseudolikelihood | −7,432.843 | −7,429.452 | −7,430.966 | −7,428.071 | ||||
| Wald test: χ2 | 252.91*** | 267.74*** | 252.63*** | 265.97*** | ||||
| Dependent variable: OFDI Dummy | ||||||||
|---|---|---|---|---|---|---|---|---|
| Variables | Model 1 | Model 2 | Model 3 | Model 4 | ||||
| Pop. pol. leader | --- | −0.356 | (0.129) | --- | −0.329 | (0.128) | ||
| Pop. pol. party | --- | --- | 0.035 | (0.015) | 0.029 | (0.015) | ||
| Inst. env. home | 0.353 | (0.104) | 0.287 | (0.104) | 0.571 | (0.147) | 0.481 | (0.152) |
| Ec. performance home | 0.097 | (0.017) | 0.081 | (0.017) | 0.131 | (0.025) | 0.111 | (0.025) |
| Infrastructure home | −0.517 | (0.093) | −0.549 | (0.095) | −0.593 | (0.101) | −0.615 | (0.105) |
| Common colony | −0.269** | (0.099) | −0.236* | (0.097) | −0.261** | (0.099) | −0.231** | (0.097) |
| Common language | 0.012 | (0.043) | −0.021 | (0.045) | 0.002 | (0.043) | −0.027 | (0.044) |
| Distance | −0.042* | (0.022) | −0.043* | (0.022) | −0.042* | (0.021) | −0.042* | (0.022) |
| Trade openness host | 0.545 | (0.156) | 0.518 | (0.157) | 0.527 | (0.156) | 0.504 | (0.157) |
| FDI openness host | 0.088** | (0.028) | 0.089** | (0.028) | 0.086** | (0.028) | 0.087 | (0.157) |
| Economic size host | 0.013 | (0.011) | 0.009 | (0.011) | 0.011 | (0.012) | 0.008 | (0.012) |
| International Experience | 0.153 | (0.013) | 0.156 | (0.013) | 0.154 | (0.013) | 0.156 | (0.013) |
| Capex scale | −0.161 | (0.131) | −0.157 | (0.129) | −0.162 | (0.131) | −0.159 | (0.129) |
| Industry | Yes | Yes | Yes | Yes | ||||
| Constant | −6.997 | (0.864) | −6.141 | (0.891) | −7.951 | (0.987) | −7.017 | (1.027) |
| Observations | 29,391 | 29,391 | 29,391 | 29,391 | ||||
| Log pseudolikelihood | −7,432.843 | −7,429.452 | −7,430.966 | −7,428.071 | ||||
| Wald test: χ2 | 252.91 | 267.74 | 252.63 | 265.97 | ||||
Notes:
Significance levels: ***p < 0.001, **p < 0.01, *p < 0.05, +p < 0.1; Robust standard errors (clustered on investing parent companies) are reported in parentheses
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