Using firm-level data from the Thailand Productivity and Investment Climate Survey
for 2004 and 2007, we study characteristics of Thai firms that make foreign direct investments.
We investigate determinants of outward FDI decisions as well as outward FDI share in total
investments. It is found that factors positively affecting outward FDI decisions are the firm
public company and exporting status, the number of plants and workers as well as age and
foreign ownership. The only factor found to have a negative effect on outward FDI is the firm
fixed assets. As for the share of outward FDI in total investments, the only factor that positively
affects it is export intensity. Surprisingly, we found that firms with their own brands and a higher
number of products per worker tend to have a lower share of outward FDI.