Factors Affecting the Choice of Equity-Based Mode by Foreign Firms Entering Kazakhstan

IF 1.6 Q3 BUSINESS

Journal of Eastern European and Central Asian Research Pub Date : 2018-11-19 DOI:10.15549/JEECAR.V5I2.233

A. Abuova, Wonchan Ra

引用次数: 2

Abstract

Choice of modes is a critical decision that firms conducting equity-based foreign direct investment must make since it has a significant effect on performance. Entry mode choice has been a major topic in international business research up to now. As the largest country in size in Central Asia and a large economic potential, Kazakhstan became one of the main destinations for foreign direct investment in this area while transitioning to a market-based economy after gaining independence from the Soviet Union in 1991. This paper investigates the main firm- and country-specific factors that affect the choice of equity-based entry modes of foreign investors entering Kazakhstan between a joint venture (JV) and a wholly-owned subsidiary (WOS). We establish hypotheses regarding the effects of such factors on the mode choice and empirically test the hypotheses with secondary data on foreign companies’ entry in Kazakhstan, using binomial logit regression analysis.

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影响外资企业进入哈萨克斯坦股权模式选择的因素

模式选择是股权型对外直接投资企业必须做出的关键决策，因为它对企业绩效有重大影响。进入模式选择一直是国际商务研究的一个重要课题。哈萨克斯坦是中亚地区面积最大的国家，经济潜力巨大，1991年脱离苏联独立后，在向市场经济转型的过程中，成为该地区外国直接投资的主要目的地之一。本文研究了影响外国投资者在合资企业(JV)和全资子公司(WOS)之间进入哈萨克斯坦的股权进入模式选择的主要企业和国家特定因素。本文建立了这些因素对模式选择影响的假设，并利用外资企业进入哈萨克斯坦的二手数据，采用二项logistic回归分析对假设进行了实证检验。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Eastern European and Central Asian Research Economics, Econometrics and Finance-Economics and Econometrics

CiteScore

2.50

自引率

43.80%

发文量

审稿时长

8 weeks

期刊介绍： Journal of Eastern European and Central Asian Research (JEECAR) is a multi-disciplinary journal related to the Eurasia regional economics, finance, management, marketing, international affairs, and other business-related disciplines. By Eastern Europe and Central Asia, the IEECA refers to Russia, Ukraine, Belarus, Moldova, Armenia, Azerbaijan, Estonia, Latvia, Lithuania, Poland, Slovakia, Hungary, Serbia, Montenegro, Bosnia and Herzegovina, Albania, Kosovo, Macedonia, and five post-Soviet Central Asian states: Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan. The JEECAR Journal is committed to the editorial principles of all aspects of publication ethics and publication malpractice as assigned by the Committee on Public Ethics. Any paper submitted to the journal must be original, previously unpublished, and currently not under consideration for publication elsewhere. All articles in the printed version of the journal are peer-reviewed. The review process is a double-blind process. Neither the authors nor the reviewers know who wrote or reviewed the article. Per standard practice, only the Editor assigned to handle a paper knows the identity of the authors and the reviewers.