中國企業對外投資行為之個案研究

The Case Studies of Foreign Direct Investment Patterns of China's Enterprises

丁心嵐(Hsin-Lan Ting)

指導教授 ： 陳添枝

國立臺灣大學/社會科學院/經濟學研究所/碩士(2006年)

https://doi.org/10.6342/NTU.2006.01623

摘要

在本研究中，以中國大陸地區的海爾及聯想集團做為研究分析的對象，探究兩家企業成長的過程和國際化發展的途徑，並且比較兩家企業在公司發展、海外投資路徑、向外擴張動機與本身優勢方面的異同，結合理論研究與實證資料，檢驗中國大陸國際化企業是否呈現某種程度的共通性。
本論文以個案研究的方式做為分析的工具，運用歷史事件分析法，以達成研究的目的。於假設驗證方面，針對研究的標的設立四個假設：
（1）企業是否具備專屬優勢？在海外是否發揮此項優勢？
（2）企業經由對外投資是否獲得缺乏的知識或技能？是否成為對外投資的主要動機？國內市場是否是企業發展的限制條件，成為企業追求成長而向外發展的推動力？
（3）開發中國家的企業進行對外投資之初，是否符合理論的假設而呈現漸進式參與國際市場的路徑？
（4）國家政策對於企業向海外發展是否有所幫助？
研究結果顯示海爾與聯想在國際化的過程中呈現不同的途徑，海爾的對外投資，與西方先進國家的知名企業之擴張過程相類似。聯想的跨國經營，則較符合Barney（1991）的資源尋求理論，透過海外投資來得到在國內無法取得的資源，擴充本身的實力，達成企業成長的遠景。而發展過程的差異則來自於（1）企業所有權型態不同；（2）專屬優勢不同；（3）市場結構不同。

關鍵字

中國大陸企業 ； 對外直接投資 ； 海爾 ； 聯想 ； 國際化

並列摘要

The purpose of this thesis is to investigate the motivations and goals of foreign direct investment patterns of China’s multinational enterprises. We employ the traditional Intangible Asset Theory and Resource Based View as our main hypotheses. The case studies of Haier and Lenovo groups, which are the titans in China’s household appliances and IT industries, are conducted to prove the consistency with the theories.
We proceed by taking up sequentially the following four questions:
(1) What is a firm’s specific advantage? Is it applied in foreign markets?
(2) Does a firm get new technologies or knowledge through foreign direct investment? If so, is it the very consideration for a firm to invest abroad? Does a firm face any restrictions or difficulties in home markets?
(3) Does internationalization process of a firm exhibit increasing foreign market commitments?
(4) What benefits do government policies do to the internationalization of firms?
We conclude that the Haier group followed the same route as multinational enterprises in western developed countries, but Lenovo group did not. The internationalization process of Lenovo group is much like Barney’s (1991) Resource Based View. The differences between the two patterns come from (1) differences in corporate ownership; (2) differences in firm-specific advantages and (3) differences in market structures.

並列關鍵字

China Enterprise ； FDI ； Haier ； Lenovo ； Internationalization

參考文獻

1. Andrews-Speed, Philip and Sergei Vinogradov (2000) “China’s Involvement in Central Asian Petroleum”, Asian Survey, Vol. 40, No.2, pp.377-397.

2. Barney, Jay (1991) “Firm Resources and Sustained Competitive Advantage”, Journal of Management, Vol.17, No.1, pp.99-120.

5. Caves, Richard E. (1971) “International Corporations: The Industrial Economics of Foreign Investment”, Economica, New Series, Vol. 38, No.149, pp.1-27.

6. Cai, Kevin G. (1999) “Outward Foreign Direct Investment: A Novel Dimension of China’s Integration into the Regional and Global Economy”, The China Quarterly, No.160, pp.856-880.

7. Chang, Steven Tung-lung and Peter Ping Li (2003) “How to Succeed in E-Business by Taking Haier Road: Formulating E-Business Strategy through Network Building”, Competitiveness Review, Vol. 13, Iss. 2, pp.34-45.