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Internationalization of multinational banks: a study of foreign direct investment in seven Latin American countries

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  • Alejandro Santana Mariscal
  • Yingying Zhang
  • Joaquin López Pascual

Abstract

The article attempts to explore and contrast the different factors that influence the foreign direct investment (FDI) decisions of multinational banks. Employing eclectic theory, an estimation model with panel data from seven Latin American countries is set to test the proposed hypotheses. The results highlight an increase in foreign assets, removal of banking restriction, banking concentration, and capital cost differential in the local banking system as determinants of specific location advantages for attracting banking FDI. Other factors such as cultural proximity and crisis also have a significant impact on banking FDI. Discussions and implications are debated before conclusions are drawn for a future research agenda.

Suggested Citation

  • Alejandro Santana Mariscal & Yingying Zhang & Joaquin López Pascual, 2012. "Internationalization of multinational banks: a study of foreign direct investment in seven Latin American countries," The Service Industries Journal, Taylor & Francis Journals, vol. 32(7), pages 1149-1170, January.
    • Handle: RePEc:taf:servic:v:32:y:2012:i:7:p:1149-1170
    DOI: 10.1080/02642069.2012.662494
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    Cited by:

    1. Aduba, Joseph Jr. & Harimaya, Kozo, 2023. "Impact of international expansion strategy on the performance of Japanese banks," Japan and the World Economy, Elsevier, vol. 65(C).
    2. Arvanitis, Spyros & Hollenstein, Heinz & Stucki, Tobias, 2016. "Does the explanatory power of the OLI approach differ among sectors and business functions? Evidence from firm-level data," Economics - The Open-Access, Open-Assessment E-Journal (2007-2020), Kiel Institute for the World Economy (IfW Kiel), vol. 10, pages 1-46.
    3. Ajay B. Massand & Gopalakrishna B.V., 2017. "Determinants of Bank Foreign Direct Investment Inflow in India: A Dynamic Panel Data Approach," IIM Kozhikode Society & Management Review, , vol. 6(1), pages 13-22, January.
    4. Spyros Arvanitis & Heinz Hollenstein & Tobias Stucki, 2013. "Determinants of Internationalisation - Do they Differ among Sectors and Business Functions?," KOF Working papers 13-348, KOF Swiss Economic Institute, ETH Zurich.

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