The dissertation consists of three chapters that address very diverse research questions involving foreign direct investment (FDI) and audit market competition. The common underlying methodology-discrete choice model is the key factor that connects all chapters covering the different research fields. In Chapter 2, I apply the discrete choice approach to investigate the pattern and determinants of horizontal foreign direct investment and establish that there exists state dependence in firms’ FDI location choice. Given the findings in Chapter 2, I seek to explain why we observe such a special pattern in firms' FDI location choice in Chapter 3. I interpret this state dependence as an evidence of the presence of adaptation costs for firm to engage in FDI and then develop a dynamic discrete choice model to quantify the magnitude of the adaptation costs. In the last chapter, we extend the discrete choice model to study the potential impact of several policies proposed by the European Commission on the audit market.
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