A multivariate framework to explore firms’ internationalization patterns: the role of individual heterogeneity

CALIA, PINUCCIA; Department Of Statistics - University Of Bologna & FERRANTE, MARIA ROSARIA; Department Of Statistics - University Of Bologna
In this paper, we explore the internationalization pattern of firms and its relationship with firms’ heterogeneity. Besides the more traditional exports and Foreign Direct Investments (FDI), we consider various forms of non-equity internationalization. The use of a Multivariate Probit Model allows us to assess the associations among the choices driving the firms’ internationalization strategy as a whole and, at the same time, to avoid a priori assumptions on the internationalization patterns. From the empirical evidence,...