For a sample of 1243 European companies, we analyse the link between firm type and foreign direct investment (FDI) locations. We find substantial empirical evidence that being a family firm does not only affect the overall propensity for FDI, but that this effect is also specific to target regions. Overall, family firms invest more than managerial-led firms, particularly in Europe and North America. Furthermore, the BRIC countries, Brazil, Russia, India and China do not constitute a homogeneous attractiveness cluster for FDI.
- family firms