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Religiosity And Foreign Direct Investment: The Case Of Romania

Author

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  • Sebastian D. TOCAR

    (University ,,Al. I. Cuza”, Iasi, Romania)

Abstract

This paper presents a quantitative approach to the analysis of the impact of cultural factors on Foreign Direct Investment (FDI). FDI is indispensable for the economic development of Eastern European countries, including Romania. In turn, FDI is determined by a multitude of factors, including cultural ones. Religiosity is an extremely important cultural factor since religion defines culture. However, the religious factor seems to be avoided in the context of FDI research. This study proposes an original reliable indicator designed to quantify religiosity –the Religiosity Index based on the review of literature in the field. This construct is analyzed as a cultural factor with an influence on FDI through simultaneous equations modeling. This allowed the author to identify the significant relationships in the multitude of bilateral and complex interrelations of FDI determinants.

Suggested Citation

  • Sebastian D. TOCAR, 2019. "Religiosity And Foreign Direct Investment: The Case Of Romania," CrossCultural Management Journal, Fundația Română pentru Inteligența Afacerii, Editorial Department, issue 1, pages 57-66, July.
    • Handle: RePEc:cmj:journl:y:2019:i:1:p:57-66
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    Citations

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    Cited by:

    1. Hong, Seiwoong & Lee, Junyong & Oh, Frederick Dongchuhl & Shin, Donglim, 2023. "Religion and foreign direct investment," International Business Review, Elsevier, vol. 32(1).
    2. Junyong Lee & Kyounghun Lee & Frederick Dongchuhl Oh, 2023. "Religion and Equity Home Bias," Open Economies Review, Springer, vol. 34(5), pages 1015-1038, November.
    3. Lee, Junyong & Lee, Kyounghun & Oh, Frederick Dongchuhl, 2023. "International portfolio diversification and the home bias puzzle," Research in International Business and Finance, Elsevier, vol. 64(C).

    More about this item

    Keywords

    Investment; FDI; Culture; Intercultural; Religiosity; Simultaneous equations modelling;
    All these keywords.

    JEL classification:

    • C32 - Mathematical and Quantitative Methods - - Multiple or Simultaneous Equation Models; Multiple Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes; State Space Models
    • F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
    • F47 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Forecasting and Simulation: Models and Applications
    • Z12 - Other Special Topics - - Cultural Economics - - - Religion

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