What drives home market advantage?
研究汽车行业中企业在本土市场获得更高份额的原因，发现消费者对本土品牌的偏好是最主要因素，即使控制品牌历史和经销商网络后依然成立，且外国品牌通过本地生产也能获得这种偏好。
In the automobile industry, as in many tradable goods markets, firms usually earn their highest market share within their domestic market. The goal of this paper is to disentangle the supply- and demand-driven sources of the home market advantage. While trade costs, foreign production costs, and taste heterogeneity all matter for market outcomes, we find that a preference for home brands is the single most important driver of home market advantage—even after controlling for brand histories and dealer networks. Furthermore, we also find that consumers favor domestically producing brands even if these brands originated from a foreign country. Therefore, our results suggest a novel demand effect of FDI: Establishing local production increases demand for the brand even in the absence of any cost savings.