Determinants of foreign entry strategies in Greek food industry

This article concerns aspects of internationalization and market servicing modes in the Greek food industry. During the late 1980s, foreign direct investment into the Greek food industry increased to around US $80 million per year from below US $10 million in the early 1980s and sales arising from a...

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Bibliographic Details
Published in:	Agribusiness (New York, N.Y.) Vol. 14; no. 4; pp. 267 - 279
Main Authors:	Anastassopoulos, G. (University of Reading.), Traill, W.B
Format:	Journal Article
Language:	English
Published:	New York Wiley Subscription Services, Inc., A Wiley Company 01-07-1998 John Wiley & Sons, Ltd Wiley Periodicals Inc
Series:	Agribusiness
Subjects:	COMMERCIALISATION COMPETENCIA ECONOMICA CONCURRENCE ECONOMIQUE DOMESTIC PRODUCTION ECONOMETRIA ECONOMETRICS ECONOMETRIE ECONOMIC COMPETITION Economics ELASTICITIES EMPRESAS MULTINACIONALES ENTREPRISE MULTINATIONALE Food FOOD INDUSTRY FOREIGN INVESTMENT Globalization GRECE GRECIA GREECE Host country IMPORTACIONES IMPORTATION IMPORTS INDUSTRIA ALIMENTARIA Industrialized nations INDUSTRIE ALIMENTAIRE International trade INVERSIONES EXTRANJERAS INVESTISSEMENT ETRANGER LICENCES LICENCIAS Licenses Licensing Manufacturing MARKET SHARES MARKETING MERCADEO METHODE STATISTIQUE METODOS ESTADISTICOS Multinational corporations MULTINATIONAL ENTERPRISES Oils & fats PERMIS PRODUCCION INTERIOR PRODUCTION INTERIEURE STATISTICAL METHODS Subsidiaries SUBSIDIARY SALES Variables
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Summary:	This article concerns aspects of internationalization and market servicing modes in the Greek food industry. During the late 1980s, foreign direct investment into the Greek food industry increased to around US $80 million per year from below US $10 million in the early 1980s and sales arising from accumulated FDI inflows (called here subsidiary sales, i.e., sales by subsidiaries of multinational enterprises) became an important mode for servicing sales in Greece by foreign companies. Sales arising from licensing grew but were relatively less important except in the oils and fats sector of the food industry, whereas the contribution of imports declined. The present study examines the determinants of the shares of subsidiary sales and licensed sales in total production separately for eight three-digit food subsectors of the Greek food industry for 6 years, using the Tobit model with fixed effects to account for the limited nature of the dependent variable. Ownership advantages, proxied by variables to represent marketing and technological intensity, and internalization conditions, proxied by a variable to represent transactions costs, are shown to be important determinants of the subsidiary sales share. The licensing sales share is high in subsectors where technological competition is advanced but transactions costs are low
Bibliography:	Q01 E16 1999001136 E70 ark:/67375/WNG-SF23L8LQ-8 ArticleID:AGR2 istex:F7DEDF336A6954BF734612F727963B6113777182 ObjectType-Article-2 SourceType-Scholarly Journals-1 ObjectType-Feature-1 content type line 23
ISSN:	0742-4477 1520-6297
DOI:	10.1002/(SICI)1520-6297(199807/08)14:4<267::AID-AGR2>3.0.CO;2-B