Time to BRIC it? Internationalization of European family firms in Europe, North America and the BRIC countries

V. D. Procher Jackstaedt Center of Entrepreneurship and Innovation Research, University of Wuppertal, Gaussstrasse 20, D-42119, Wuppertal, Germany; Schumpeter School of Business and Economics, University of Wuppertal, Gaussstrasse 20, D-42119, Wuppertal, Germany; Rheinisch-Westfälisches Institut für Wirtschaftsforschung, Hohenzollernstrasse 1-3, 45128, Essen, GermanyCorrespondence[email protected]

D. Urbig Jackstaedt Center of Entrepreneurship and Innovation Research, University of Wuppertal, Gaussstrasse 20, D-42119, Wuppertal, Germany; Schumpeter School of Business and Economics, University of Wuppertal, Gaussstrasse 20, D-42119, Wuppertal, Germany; Antwerp Center of Evolutionary Demography, University of Antwerp, 2000, Antwerp, Belgium

C. Volkmann Jackstaedt Center of Entrepreneurship and Innovation Research, University of Wuppertal, Gaussstrasse 20, D-42119, Wuppertal, Germany; Schumpeter School of Business and Economics, University of Wuppertal, Gaussstrasse 20, D-42119, Wuppertal, Germany

Abstract

For a sample of 1243 European companies, we analyse the link between firm type and foreign direct investment (FDI) locations. We find substantial empirical evidence that being a family firm does not only affect the overall propensity for FDI, but that this effect is also specific to target regions. Overall, family firms invest more than managerial-led firms, particularly in Europe and North America. Furthermore, the BRIC countries, Brazil, Russia, India and China do not constitute a homogeneous attractiveness cluster for FDI.

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Acknowledgements

We thank Peter Englisch and Johannes Rettig from Ernst & Young for their indispensable support in this project. We are also grateful for the generous financial support from the Jackstädt-Stiftung.

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Time to BRIC it? Internationalization of European family firms in Europe, North America and the BRIC countries

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Time to BRIC it? Internationalization of European family firms in Europe, North America and the BRIC countries

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