Host Country’s Intellectual Property Rights and Firm’s Equity Participation

There has been an important debate on whether the degree of intellectual property rights (IPR) protection in a host country affects the choice of ownership structure of a transnational firm (TNF) for its affiliate. It is argued that a TNF’s equity participation in its affiliate is used to exert control and to protect its assets. Firms with greater equity ownership can control better the extent of the technology spillover, and thus compensate for weaker IPR protection in the host country, than can firms that do not have as large an equity participation in their affiliates. Using a unique data set of a newly developed country’s (South Korea) TNFs, this paper shows that there is a negative relationship between a host country’s standards of IPR protection and a TNF’s equity participation.      

中国15个省市 FDI 技术外溢潜力的比较研究

本文在对 FDI 技术外溢效应相关文献分析的基础上,构建了 FDI 技术外溢潜力指标,并利用2007～2011年的面板数据测度了中国15个省市的 FDI 技术外溢潜力,结果表明：各个省市 FDI 技术外溢潜力存在着较大差异。其中,北京、广东、江苏、福建、浙江发生 FDI 技术外溢的潜力较大,而贵州、山西、湖南、安徽较小,其他省市居中。因此,具有较高潜力的省份应该给予外商投资企业更高的投资激励吸引外资企业以获取技术外溢,潜力较小的省份应该采取提高本地企业技术水平、改善投资环境等措施来与外资企业接轨。     

西方对外直接投资理论综述

对外直接投资已成为经济全球化的一种重要经济现象。学者们对这种现象展开了广泛研究,形成了诸多理论。文章从微观、中观和宏观三个层次对西方对外直接投资理论进行了较为全面地梳理和评述,特别是基于实物期权视角的对外直接投资理论。     

Foreign Direct Investment,Imports and Innovations in the Service Industry

The paper analyses for the first time empirically the impact of foreign competition due to inward foreign direct investment and imports on the innovation activities using data of German service firms. Based on the hypothesis that foreign competition has a disciplining effect on domestic markets derived from the manufacturing sector, a positive impact can be expected on innovation in the service sector, while other theoretical considerations do not absolutely support this optimistic view. In the empirical analysis, variants of two probit models are estimated for a sample of 2,019 service firms to explain their product and process innovation activities. The results show that both foreign direct investment and imports have highly significant positive effects on product and process innovations. Vice versa, the export and foreign production activities of domestic firms support innovations, too.     

‘Trojan horse’ or ‘Workhorse’? the evolution of U.S.–Japanese joint ventures in the United States

Foreign investors and their domestic joint venture partners must find ways to share the benefits of the venture if both sides are to be satisfied. Some work in the literature on joint ventures has asserted that there is a danger in all joint ventures, and especially joint ventures with Japanese, that one side will exploit the venture for its own gain, using it as a Trojan Horse. To test this assertion, we build a full data set of Japanese firms with joint ventures in the United States and track the ventures over time. Our data show that the Japanese partners do not take actions consistent with the Trojan Horse hypothesis. Copyright © 1999 John Wiley & Sons, Ltd.     

Are aliens green? Assessing foreign establishments' environmental conduct in the United states

Previous research has found that foreign‐owned establishments often lack specific capabilities needed to respond to local business conditions and are held to a higher standard by local stakeholders. These establishments compensate, however, by possessing offsetting capabilities such as technological excellence. In this article, we investigate how these conflicting forces shape the environmental conduct of foreign‐owned facilities. Using data from the Environmental Protection Agency, we find that foreign‐owned establishments generate more waste yet manage more waste than U.S.‐owned establishments. We also find evidence that both domestic and foreign‐owned firms generate more waste if they operate multiple facilities across multiple jurisdictions in the United States. Copyright © 2001 John Wiley & Sons, Ltd.     

我国石油工业对外直接投资的战略研究

我国石油工业对外直接投资意义重大,但也存在诸多障碍因素,如技术水平偏低、投入资金不足、经营人才短缺、市场竞争激烈等,因此,我国石油工业在开展对外直接投资时,既要选择好合适的投资模式和投资区位,还要大力培养石油国际经营人才、积极拓展海外融资渠道、加强海外投资风险管理、完善海外投资政策体制。     

FDI对中国出口贸易影响的区域差异实证分析

运用1985年～2009年的省级面板数据分析了外商直接投资对中国出1：7贸易地区差异的影响。结果表明．外商直接投资对中国出口存在着明显的促进作用,并且对东部地区的出口促进作用远远大于对中国中部和西部地区的出1：7促进作用。     

外商直接投资的产业结构效应——基于江苏数据的协整分析

外商直接投资结构和产业结构的优化对经济增长起着重要的作用,格兰杰因果检验验证了它们之间的关系,并通过协整检验发现三者之间的协整关系,由实证分析可知,第一产业比重的下降会促进第一产业外商直接投资增速的增长和经济增长,第二产业外商直接投资增速的增长和第二产业比重的下降会促进经济增长,第三产业外商直接投资增速的增长和第三产业比重上升会促进经济增长.     

中国对外直接投资对东盟国家进出口贸易的影响研究——基于信息通信技术视角

在一带一路倡议的助推下,中国对东盟的直接投资流量大幅度增加,东盟已成为中国的第二大贸易伙伴。诸多学者实证证明,外国直接投资流入对贸易的影响是积极的,通过创造就业机会、转让先进技术等方式,促进了贸易的发展,但政策制定者需要知道是什么使市场对外国直接投资更有吸引力。本文利用2003~2018年的数据进行实证检验,研究结果表明,中国对东盟的直接投资促进了中国与东盟国家之间贸易额的增长;另外,信息通信技术具有调节作用,中国对外直接投资和信息通信技术对东盟国家的出口增长率、贸易增长率具有显著影响,而对进口增长率的影响则存在滞后性。研究建议:中国应向东盟国家提供更多的援助,加大对信息通信基础设施的投资,帮助它们采用信息和通信技术,打破目前信息和通信技术不平衡的困境,助力双方的贸易合作和经济发展。     

The choice of entry mode in sequential foreign direct investment

Relatively few studies have examined the importance of an entry's sequential position to the choice of foreign entry mode. We use a dynamic model to analyze sequential entries into the United States from 1975 to 1992. Our findings show that several independent variables which explain a firm's initial mode of entry do not explain the modes of subsequent entries. These findings underscore the importance of experience in foreign investment, as companies learn from early entries and adapt the modes of subsequent ones. Copyright © 2001 John Wiley & Sons, Ltd.     

Location,governance, and strategic determinants of japanese manufacturing investment in the united states

A firm's decision to manufacture abroad depends on location, governance, and strategic factors. Governance factors are firm-specific. In spite of this, most empirical studies of foreign direct investment (FDI) have been conducted at the industry level (making it impossible to look at firm-specific determinants), and only a handful have considered governance, location, and strategic factors simultaneously. This paper is the first large sample study of the determinants of foreign direct investment at the product and firm-level. It examines the impact of location and governance factors, and of four types of strategic interactions, on a Japanese firm's propensity to manufacture in the U.S. The results support the view that foreign direct investment is explained by location, governance, and strategic variables. Economies of scale and trade barriers encourage Japanese FDI in the U.S. The larger a Japanese firm's R & D expenditures, the greater the probability it will manufacture in the U.S., but this is not the case for advertising expenditures. Some strategic factors are also important: Japanese firms with medium domestic market shares have the highest propensity to invest in the U.S. There is evidence of follow-the-leader behavior between firms of rival enterprise groups, but none of ‘exchange-of-threat’ between American and Japanese firms. Japanese investors are also attracted by concentrated and high-growth U.S. industries.     

外商直接投资与煤炭产业链的构建——基于山西主导产业升级的视角

阐述了外商直接投资对推动我国经济发展的重要性,论述了其与国内导向型产业升级的联系,以及与山西省煤炭产业链构建的重要关系,认为外商直接投资是促进山西产业结构升级的重要途径。