The determinants of foreign investment in Russian food industry companies - PowerPoint PPT Presentation
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The determinants of foreign investment in Russian food industry companies
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The determinants of foreign investment in Russian food industry companies Draft of the paper Student: Gladysheva Anna Group: 41MMAE Argument consultant: Ratnikova T.A. – PowerPoint PPT presentation
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Title: The determinants of foreign investment in Russian food industry companies
1
The determinants of foreign investment in Russian
food industry companies
- Draft of the paper
Student Gladysheva Anna Group 41MMAE Argument
consultant Ratnikova T.A. Language consultant
Zinovyeva N.Y.
2
Plan
- Problem statement
- Theoretical part
- Previous investigation
- Idea of this research
- Empirical part
- Comments on the data and model specificities
- Conclusion
- Expected results
3
Problem statement
Made by legal entities or individuals entirely
owning the enterprise or controlling not less
than 10 of shares in its capital
4
Problem statement
- Why food industry?
- The access to the market with lower barriers
- Possible long-term perspectives
- Homogeneity
- Stability and law probability of technological
leaps - Independence on certain factors (natural
resources)
5
Previous investigation Literature review
Manaenkov D.A. What determines the region of
location of an FDI project? An empirical
assessment
The FDI in Russian food industry
Tullio Buccellato and Francesco
Santangelo Foreign Direct Investments
Distribution in the Russian Federation Do
Spatial Effects Matter?
6
Theoretical part
- General model
- FDI is a binary variable of the occurrence of the
foreign capital in the company - Firm is a group of factors on the level of
enterprises - the figures from the financial statements of the
company (assets, liabilities, revenue, net
profit, etc.) - information on the labour and other resources
(number of staff, wage and price on resources,
capital intensity, the productivity of labour and
capital, etc.) - openness of the company (export and import)
- the position on the market (market share)
- the administration and some special
characteristics (a branch of the industry, the
specialisation - whether it has the technology
depends more on the row materials, on consumers
or on both these factors, etc.) - Region is a group of factors on the level of
regions of Russia - characteristics of the effective demand in the
region (the GRP per capita, the population) - the openness (export and import, taxes)
- the market (the coefficients of concentration)
- the labour force (the number, the level of
education, the average wage in the region) - the agglomeration (the matrix of the FDI in other
regions adjusted to the distances and the FDI in
the region of a firm i) - the institutes (e.g., corruption, efficiency of
laws, taxes) - the investment risk and potential (the indexes of
the Expert agency) - the value added
7
Theoretical part
- Hypotheses
- The significance of the determinants
- The importance of regional characteristics
- The significance of the agglomeration effect.
Does it affect as it was explained in theory? - The possibility to use the model to predict the
probability of the investment in a certain
company. The ex-post forecast.
8
Empirical part
- Estimated model RE
9
Conclusion
- Expected results
- The list of variables determine the choice of
foreign investor is going to be obtained - The belonging to a certain region (a region with
certain characteristics) is supposed to be
significant. The agglomeration effect is also
expected to be important - Building a model, useful for forecasting the FDI
in a firm with known measures is going to be
brought into effect.
10
Thank you for your attention
- Any questions are welcome
Gladysheva Anna, 41MMAE
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