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Although thefdi theory f was originally developed to

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Unformatted text preview: ry f was originally developed to explain foreign production, its application to service industries is considered equally appropriate [Boddewyn, Halbrich, andPerry19861. The model has been applied in the past to explain the internationalization of the hotel industry punning and McQueen 19811,the banking industry [Cho 1985; Gray and Gray 1981; Sabi 1988; Yannopoulos 19831, and the advertising industry [Terpstra and Yu 19881. Leasing i a generic term used for types of secured equipmentfinancing. s all Any type of equipment can be financed through leasing; someof the typical a products that are leased include ircrafts, agricultural equipment, automobiles, computers, containem, health care equipment, and ships. While leasing has been traditionally popular in the U.S., U.K., Germany, and Japan, recent years have seen leasing take on much more importancen countries such as i Brazil, Venezuela, South Korea, Hong Kong, and the Philippines. The peneN tration of leasing (in capital formation) inorth America increased fiom an estimated 14.7% in 1978 to 2 55% i...
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