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Internationalisation and Foreign Direct Investment in Shipping: A Study of Norwegian Firms

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  • Trond Randøy

    ([1] Agder University College, Norway [2] Centre for International Economics and Shipping, Agder Research Foundation, Norway)

Abstract

The degree of internationalisation of a shipping firm is paramount to its long-term success. As a result, the paper assesses the factors that affect the relative internationalisation of shipping firms' land-based activities, such as terminals and sales offices. Based on the response from top executives of 23 Norwegian shipping companies, a multivariate model is employed to test the proposed hypotheses. Significant differences have been found between shipping companies that are domestic-based (no foreign investment) and companies that are more global. Three factors that make investment in foreign countries more attractive to shipping firms have been identified, namely: (1) a firm's possession of exceptional technology or unique experience; (2) the possibility of gaining access to unique resources in foreign markets; and (3) shipping markets with mostly long-term contracts.International Journal of Maritime Economics (2001) 3, 298–317. doi: 10.1057/palgrave.ijme.9100015

Suggested Citation

  • Trond Randøy, 2001. "Internationalisation and Foreign Direct Investment in Shipping: A Study of Norwegian Firms," Maritime Economics & Logistics, Palgrave Macmillan;International Association of Maritime Economists (IAME), vol. 3(3), pages 298-317, September.
    • Handle: RePEc:pal:marecl:v:3:y:2001:i:3:p:298-317
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