The study looked at how Foreign Direct Investment (FDI) flows into Central and Eastern European Countries (CEECs) are influenced by both the countries where the investment comes from and where it goes. The researchers found that vertical-complex FDI is common in CEECs, meaning investments are often related to different stages of production. They also discovered that in the early years of transition, there were strong connections between the countries sending investments, but these effects decreased over time. Lastly, they found that agglomeration forces, which attract businesses to cluster together, play a significant role in attracting FDI to CEECs.