Institutional distance and Turkey's outward foreign direct investment.

This study empirically examines the relation between institutional distance (ID) and Turkey's outward foreign direct investment (TODI). The empirical results use panel data from 2002 to 2016 to show that TODI is attracted to countries with better institutional quality. We also find that host country political stability, government effectiveness, control of corruption, and rule of law attract TODI. We also document that TODI is positively related to cultural distance (CD) and ID is not moderated by CD.