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عنوان فارسی مقاله:
تصمیم گیری در مورد OFDI و مکان برای شرکت های چند ملیتی ناهمگن: شواهد از شرکت های چینی
عنوان انگلیسی مقاله:
Decisions of OFDI Engagement and Location for Heterogeneous Multinational firms: Evidence from Chinese firms
سال انتشار : 2016
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بخشی از مقاله انگلیسی:
2. Literature review and hypotheses
Recent international studies have paid close attention to the issue of the firm-level productivity differences and internationalization modes (Montagna, 2001; Melitz, 2003). A major breakthrough in this regard can be attributed to Melitz (2003) and Bernard et al. (2003), who augmented the Krugman-like monopoly competition model with firm heterogeneity, and demonstrated how its interaction with sunk costs associated with entering foreign markets determines their export behavior. Building on this framework, Helpman et al. (2004) were the first to model firms' decisions between exporting and setting up a foreign subsidiary serving the local market (hereafter referred to as the HMY model). The key prediction emerging from these studies is that firms with different levels of productivity will generally engage in distinct modes of international activities, wherein the most productive firms choose to invest in foreign markets while the less productive ones opt for export. Moreover, some of the less productive firms continue to produce only for the domestic market and simultaneously force the least productive firms to exit, as only sufficiently productive firms can afford the distinct sunk costs related to the FDI. Although there have been several studies of the firm's productivity and internationalization mode, however, most of the studies have analyzed firms from developed countries, such as Germany (Wagner, 2006; Buch and Lipponer, 2007; Arnold and Hussinger, 2010), Poland (Hagemejer and Kolasa, 2011), Ireland (Girma et al., 2004), the United Kingdom (Girma et al., 2005), Turkey (Yasar and Paul, 2007), France (Nefussi, 2006; Engel and Procher, 2012), Italy (Castellani and Zanfei, 2007), the United States (Helpman et al., 2004; Yeaple, 2009), and Japan (Head and Ries, 2003; Murakami, 2005; Kimura and Kiyota, 2006). A few researchers have focused on firms from developing countries, for example, China (Wakasugi and Zhang, 2012), India (Bhattacharya et al., 2012), and Slovenia (Damijan et al., 2007). Some academicians have also used cross-border panel data (Pietrovito et al., 2012). The majority of the research findings show that while the HMY model's theoretical expectations can be satisfied, a few researchers conclude otherwise (Girma et al., 2004). Traditional FDI theory stresses that having a particular advantage is a prerequisite for an enterprise to conduct FDI. Existing FDI theories, including the monopoly advantage theory (Hymer, 1960), the product life cycle theory (Vernon, 1966), the internalization theory (Coase, 1937), as well as the international eclectic theory (Dunning, 1976) emphasize the importance of heterogeneity of scarce resources, which can ensure the enterprises' competitive advantage. Such capabilities can assist emerging market enterprises (EMEs) in responding successfully and proactively to institutional pressures, seeking changes in the manner of internationalization (Castrogiovanni, 1991; Wang et al., 2012b). Therefore, the productivity of enterprises may also play an important role in OFDI activities. To some extent, enterprises conducting OFDI may a face complex business environment abroad, and thus, the comprehensive capability of the firm should be stronger, as only enterprises with high productivity will be able to bear the high costs of OFDI activities. Thus, we hypothesize as follows.
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کلمات کلیدی:
The entry-mode decision of Chinese outward FDI: Firm resources ... onlinelibrary.wiley.com/doi/10.1002/tie.20425/full by L Cui - 2011 - Cited by 42 - Related articles Jun 23, 2011 - Abstract. How do Chinese firms make their entry-mode decision for their outward investments? Based on the three theoretical perspectives that ... Outward Foreign Direct Investment (FDI) in Emerging Market Economies https://books.google.com/books?isbn=1522523464 Doro?y?ski, Tomasz, Kuna-Marsza?ek, Anetta - 2017 - Business & Economics Chapter 3 Dilemmas on OFDI Measuring and Interpreting: The Case of Poland. ... and analysis of the scale of OFDI engagement of enterprises (especially from ... factors for MNCs taking outward FDI decision from emerging market economies. Behind ownership decision of Chinese outward FDI: Resources and ... link.springer.com/10.1007/s10490-009-9136-5 Mar 5, 2009 - This paper examines ownership decision of Chinese outward foreign direct investment (FDI) with a focus on the choice between a wholly ... State ownership effect on firms' FDI ownership decisions under ... link.springer.com/article/10.1057/jibs.2012.1 State ownership effect on firms' FDI ownership decisions under institutional ... state ownership Chinese outward FDI subsidiary ownership institutional theory.
