跨国投资、市场结构与外商投资企业的竞争行为

实力雄厚的跨国公司在中国大量投资是否会导致垄断行为 ,是国内外长期关注和争论的一个问题。本文以汽车、移动通讯设备和洗涤用品这三个技术特性和经济规模有较大差异的行业为案例 ,分析吸引跨国投资与中国制造业市场结构的变化 ,及这种变化对外商投资企业竞争行为的影响。结论是 :虽然跨国公司有垄断愿望 ,但是随着中国不断深化的开放与改革 ,跨国公司不仅本身以竞争行为为主 ,而且成为促进中国竞争性市场结构形成的重要因素。     

跨国公司在华新产品开发策略与中国企业的对策

跨国公司在华的新产品开发策略,对中国市场结构和企业产生了冲击。本文从行业层面上研究跨国公司在华新产品开发的竞争策略和运作特点,分析对中国市场结构的影响,提出中国竞争企业的相应对策。     

边缘化进入、管制放松及基于可竞争性竞争性的产业成长--以轿车工业为例

进入和价格管制曾经是实现我国轿车工业产业组织政策目标的主要工具，本文通过对双重管制的理论和实证分析，利用产业组织理论的相关模型，指出管制低效的原因在于管制权的双层配置、产业的初始结构以及产品结构所导致的边缘化进入，正是这种进入提升了中国轿车工业的整体规模和市场结构。在跨国公司已经全面介入产业发展的背景下，未来的产业政策应以可竞争性为目标，并对国内企业予以保护。     

跨国公司进入对中国市场结构变动的影响

随着我国利用外商投资规模不断扩大,跨国公司凭借其规模、技术、营销等方面的竞争优势,实现了对中国市场进入壁垒的突破与重建,进而对中国的产业组织结构产生了不可忽视的影响。一方面,跨国公司进入一定程度上促进了我国产业组织结构的优化;另一方面,跨国公司的市场势力不断增强,产业控制程度提高,导致我国市场结构的二元级差有所增大。今后,我国应进一步规范跨国公司投资企业的竞争行为,促使其在改善中国市场结构方面发挥更积极的作用。     

关于跨国公司进入中国市场的产业组织分析

跨国公司进入中国会产生许多正负效应，从而引发人们的诸多思考。本文在理论分析的基础上，运用有竞争性从属部分的主导厂商模型，分析跨国公司进入对东道国市场结构及其产出绩效影响的实质，并结合文中的理论分析，对症下药，给出了相应的对策性建议。     

跨国公司技术扩散的障碍及对策

由于我国现有企业规模、产业结构、市场结构缺陷 ,及不完善的要素市场等因素的制约 ,大大影响了跨国公司技术扩散在我国的溢出效应。因此 ,应加快我国企业与跨国公司间技术网络建设 ,完善我国企业技术扩散机制及国内统一的要素市场等 ,以提高我国利用跨国公司技术扩散的溢出效果。     

外资并购我国上市公司绩效的实证分析

随着我国改革开放步伐的加快,外国直接投资的方式亦有很大的转变,不少跨国公司开始通过并购我国企业进入中国市场。通过与大型跨国公司合作获得先进技术是我国企业的初衷,但跨国并购所存在的风险和负面影响亦需准确地评估。文章拟通过对跨国公司在中国并购行为对上市公司绩效影响的实证考查,寻找外资收购屡现危局的原因,提出我国未来应对外资收购的思路和策略。     

跨国公司对华投资与中国市场产业发展思路初探

改革开放以来,中国利用国外直接投资的规模不断扩大,跨国公司普遍将中国市场作为当前目标市场。跨国公司的中国市场战略,对中国国内市场形势和产业发展也具有重要影响。中国必须针对跨国公司中国市场战略形势,完善相应的产业政策,有效地借助全球经济发展的有利条件,实现中国经济又好又快地发展。     

我国纺织行业应对跨国公司本土化经营的策略探讨

随着我国加入WTO及经济全球化时代的到来，世界纺织巨头纷纷与国内企业合作或在国内建立“加工地”。意图争夺或瓜分中国市场，本土化经营成为目前跨国公司投资中国纺织业的一大热点。针对跨国公司本土化战略所带来的挑战，企业的竞争能力已经成为企业能否存在、发展壮大的基本所在。本文对跨国公司本土化经营的优、劣势进行了分析，提出应对跨国公司本土化经营的策略。     

影响跨国公司以战略联盟方式进入中国市场的因素分析

对跨国公司以战略联盟的方式进入中国市场的影响因素进行分析,对于中国吸引外资投入和中国企业以联盟的方式进入国际市场都有重要意义。从东道国因素、母国因素、产业因素、公司自身因素等几个方面来分析其对跨国公司以战略联盟方式进入中国市场的影响。     

跨国公司进入的股权选择方式研究

跨国公司的进入改变了原有产业间竞争的格局,而这种变化将会给地区间经济发展带来巨大的差异。所以,地方政府都希望借助于跨国公司的技术垄断优势增强本地区经济竞争力,从而获取比较高的地方财政收入。但跨国公司不同的股权进入方式取决于不同的技术垄断优势。基于此,地方政府同国有企业、跨国公司共同展开合作博弈,结果证明跨国公司的控股现象是我国区域间竞争的必然结果。因此,在市场经济条件下加快地区经济发展,不能以保护民族工业而排斥外资为出发点,而应借助市场体系的完善与外资共同发展,并不断加强国内企业的自主研发能力培育,摆脱对国外技术的严重依赖性。     

高管海外背景、进入模式与跨国企业海外子公司生存绩效*

拥有海外背景的高管对跨国企业海外子公司生存至关重要。本文以2007—2018年中国A股上市公司海外子公司数据为样本，基于高阶理论，运用cox比例风险模型和logit模型检验了高管海外背景对跨国企业海外子公司生存绩效的影响及其机制。研究结果显示，高管海外背景有助于提升海外子公司的生存绩效；此外，进入模式在高管海外背景和海外子公司生存绩效二者关系间存在中介作用，即高管的海外背景越丰富，海外子公司越倾向于以独资的模式进入东道国，独资模式下母公司对于海外子公司的资源投入有助于提升海外子公司的生存绩效。     

Mixed oligopoly, optimal privatization, and foreign penetration

This paper examines the impact of foreign penetration on privatization in a mixed oligopolistic market. In contrast to the simple framework of single domestic market with foreign entry by entry mode of foreign direct investment (FDI) or exports, our result shows that government should increase the degree of privatization along with increasing proportion of domestic ownership of multinational firms. Furthermore, we show that an increase in domestic ownership of multinational firms raises all domestic private firms' profit and social welfare, while it may either increase or decrease public firm's profit. With the aid of numerical example, intensive competition from private firms in general will enhance the degree of privatization gradually; in particular, the degree of privatization is lower in the presence of multinational firms.     

Managing Foreign Direct Investment: Commitment, Deterrence, And Diversion

The paper models the multinational choice between foreign direct investment in and exporting to a domestic market as an equilibrium outcome of strategic play between domestic and foreign firms. Two cases are considered, one in which the domestic firm can precommit to output levels (as, for example, through investment in a distribution network), and one in which such precommitment is not possible. The domestic firm's strategy in the case of precommitment includes aggressive efforts to deter or divert foreign investment and results in fewer observed equilibria with foreign investment than would otherwise occur. Tariffs designed to switch the foreign decision from exporting to direct investment may lead instead to monopolization of the market by the domestic firm.     

Host country's strategic policies and multinational firm's choice of entry mode

This paper examines the effects of contract enforceability and market structure on a firm's choice between licensing and foreign direct investment. Clearly, the firm's choice impacts upon social welfare in the host country. Therefore, the government of the host country is likely to set contract enforceability for inducing the multinational firm (MNF) to choose a desirable mode of entry. The paper takes into account two different cases. In the first case, the host country does not have an incumbent that can compete with the MNF, and in the second case, it has one incumbent that can compete. The paper shows that the government's choice of contract enforceability is crucially dependent upon the domestic market structure and the domestic capacity to absorb the advanced technology of the MNF.     

Formula apportionment vs. separate accounting: A private information perspective

In 2002, the European Commission recommended that member countries use formula apportionment procedures to tax multinational companies. This departure from the standard separate accounting (transfer pricing) approach is an attempt to reduce the costs and distortions associated with auditing transfer prices. Unfortunately, apportionment formulas create their own economic distortions and, contrary to popular belief, they do not eliminate distortions due to asymmetric information between the multinational and the national tax authorities. In this paper, I explicitly model the role of private information in two tax competition games: one in which tax liabilities are calculated under formula apportionment and one in which tax liabilities are calculated under separate accounting and transfer prices are audited. Switching to a formula apportionment system affects the after-tax profit of multinationals and the tax revenues paid by both domestic and foreign firms. The direction and magnitude of the changes depend on the accuracy of the auditing technology and non-monotonically on multinational costs. The switch will have different effects on the tax receipts from domestic and foreign firms.     

Multinational enterprises and technological spillovers: An evolutionary model

This paper analyses the determinants of the impact of foreign multinational enterprises on the technological development of domestic firms. It argues that the consequences of the foreign presence change according to market and technological conditions. An evolutionary model of technological competition between foreign and domestic firms is developed which is able to generate both vicious and virtuous circles of development in locations affected by foreign MNE activities. Theoretical analysis is tested against the empirical evidence for the UK economy (1983–1989).     

To innovate or to transfer?

FDI has been considered by many development economists as an important channel for transfer of technology to developing countries. It is suggested that modern, advanced technologies introduced by multinational firms can diffuse to domestic firms through spillovers. In this paper, we study innovation and technology transfer activities of domestic and foreign firms in Turkish manufacturing industries, and the impact of horizontal, vertical and labor spillovers on these activities. Our analysis shows that foreign firms are more innovative than their domestic counterparts, and transfer technology from abroad (mostly from their parent companies). Horizontal spillovers from foreign firms seem to be insignificant. The effects of foreign firms on technological activities of other firms in vertically related industries are ambiguous. High-tech suppliers tend to have a high rate of innovation when the share of foreign users is high, but the opposite is true for users: high-tech users supplied mainly by foreign firms tend to have a lower rate of innovation. Labor turnover is found to be the main channel of spillovers. Our findings reiterate the importance of tacitness of knowledge, and confirm that technology cannot easily be transferred through passive mechanisms.     

Financial constraints on export market exit of domestic firms versus foreign multinational corporation subsidiaries in South Korea

Using a Korean manufacturing firm-level data set covering a range of years from 2006 to 2013, this study investigates how the financial condition of firms, such as liquidity, leverage, and cash flow ratio, affects exit from export markets. It also analyses whether the financial status of foreign multinational corporation (MNC) subsidiaries differs from that of domestic firms with respect to the hazard of export market exit, especially during a global financial crisis. The empirical results confirm that, for domestic firms, the hazard of export market exit is affected by the firms’ financial condition only during a financial crisis. In other words, the financial vulnerability of domestic firms increases during the crisis, resulting in the hazard of export market exit. However, financial situations for foreign MNC subsidiaries do not affect exits from export markets, indicating a ‘finance-factor comparative advantage’.