rank

action

Phi

Phi+

Phi−

1

joint-venture

0.1607

0.5536

0.3929

2

licensing

0.0714

0.5000

0.4286

3

franchising

−0.0179

0.4821

0.5000

4

exporting

−0.1071

0.4107

0.5179

5

FDI

−0.1071

0.4286

0.5357