对外直接投资进入模式选择的影响因素研究

【作者】 郑邓芳；

【导师】 王国顺；

【作者基本信息】 中南大学 ， 国际贸易学， 2006， 硕士

【摘要】 本文在对西方进入模式选择理论的充分回顾与评价基础上，将组织能力理论融入Kim和Hwang(1992)的折衷理论分析框架，构建了FDI进入模式选择综合模型。这个模型较以往的理论模型来说，更为全面的解释了企业资源因素、环境、交易和战略因素对进入模式选择的综合影响。此外，本文以FDI进入模式选择综合模型为基础，结合外商在华投资的现实数据和实例，系统分析了影响外商在华FDI进入模式选择的影响因素，并利用1996年中国新批准的473家制造业外资企业进行了实证检验，最后根据实证结果比较了各影响因素的实际影响力大小，最终得出外商在华直接投资进入模式选择的主要影响因素。本文的主要结论为：①FDI进入模式选择不仅受交易、环境和战略因素的相互作用影响，也受到企业资源因素与这三类变量的共同作用。对于跨国公司来说，最佳的进入模式是所有相关因素经权衡后能够最大化企业长期价值的选择。②外商进入中国市场的合资和独资进入模式选择中，资产专用性、母国与东道国心理距离、知识隐性程度、投资地区风险与外资政策是进入模式选择的主要影响因素，且对进入模式选择的影响依次增大。更多还原

【Abstract】 Based on the eclectic theory developed by Kim & Hwang (1992) andthe retrospection of preceding theories in FDI entry mode strategy area,this study develops an eclectic framework including firm-specific,strategic, transaction-specific and environmental variables. Then thisframework is applied to the analysis of determinants on FDI entry modechoice in China. By using the data of 473 invested manufacturing firms in1996, the study tests the determinants mentioned above and thencompares the degree of these factors affect on FDI entry mode choice.Based on the theoretic and empirical research above, the determinants ofFDI entry mode choice in China are identified. The main conclusionsare as follows. First, the FDI entry mode choice is influenced by theinteraction between firm-specific, strategic, environmental andtransaction-specific variables. Since different variables suggest differententry modes, it is of critical importance that management decision-makersconsider the relative weight of the firm-specific, strategic, environmentaland transaction-specific variables when selecting a mode of entry. Second,it is found that asset-specific factors, psychic distance, knowledgetacitness, location risk and FDI policy factors are the primary factors ofFDI entry mode choice in China, and the degree of their impact on FDIentry mode choice are on the increase accordingly.更多还原