Most of the foreign direct investment (FDI) studies on location determinants are based on macroeconomic characteristics. However, it is important to understand to what extent microeconomic obstacles hinder FDI. This study explores obstacles to FDI in Malaysia, based on firm‐level data. To overcome the problem of uncertainty in variable selection, Bayesian model averaging for logistic regression is employed. Using the Enterprise Surveys 2015 dataset for analysis, the Bayesian logistic regression approach provides robust findings on the importance of access to land, crime, and disorder as obstacles to FDI.

中文翻译：

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马来西亚的投资环境和外国直接投资：公司层面的证据

大多数有关地理位置决定因素的外国直接投资（FDI）研究都是基于宏观经济特征。但是，重要的是要了解微观经济障碍在多大程度上阻碍了外国直接投资。这项研究基于公司层面的数据，探讨了在马来西亚进行外商直接投资的障碍。为了克服变量选择中的不确定性问题，采用了用于逻辑回归的贝叶斯模型平均。贝叶斯逻辑回归方法使用《 2015年企业调查》数据集进行分析，得出了关于获得土地，犯罪和混乱作为FDI障碍的重要性的可靠结论。