廠商自擁優勢及國際化經驗對國際化動機的影響--以台灣廠商對外直接投資為例

台灣屬於海島型國家，長期以來經濟發展需要透過進出口貿易來維持，對外出口佔國內GDP六成左右。以出口為導向的台灣，很容易受到國際環境情勢的變動而影響國內廠商的獲利能力。本研究選擇台灣廠商海外投資（大陸投資除外）為研究主題，在國際競爭強烈的現今社會，台灣廠商對於海外投資的動機與目的，作為本研究的主要探討重點。本研究以經濟部投資審議委員會1963至2010年「台商投資海外名錄」為研究對象，共計2754件。然後，搭配世界銀行(World Bank)提供之1990至2010年各國特性資料庫，以及台灣經濟新報資料庫提供之1990-2010年上市櫃公司各年度財務報表，合併作為樣本資料。本研究探討國際化動機如何受到廠商自擁優勢與國際化經驗的影響，故採用SUR( Seeming Unrelated Regression Model )模式。結果發現，在廠商自擁優勢與投資動機之影響中，行銷能力對於廠商投資動機的影響並不顯著，而在研發能力方面，在資源搜尋與策略資產方面為顯著。而國際化動機的影響方面，國際化經驗與投資動機之間相關性不顯著，唯有國際化經驗與市場搜尋動機呈現部分支持。最後國際化經驗干擾廠商自擁優勢對投資動機之影響，當廠商獨特優勢為行銷能力時，且投資動機為市場搜尋時，呈現部分支持。

關鍵字

國際化經驗；對外投資動機；看似不相關迴歸模型

並列摘要

Taiwan is an island country surrounded by sea., long-term economic development needs to be maintained through the import and export trade, exports accounted for about 60% of the national GDP. As a highly export-oriented country, profitability of Taiwan’s enterprise is obviously affected by international environment changing. In this research, we choice Taiwanese Firms’ foreign direct investment (excluding investment in mainland China) as the research subject. In this international competitive society, the definition and purpose in this research are: The Effect of MNEs' Ownership-Specific Advantages and International Experience on the Motives for Internationalization. In this research, The data resources mainly come from TEJ Database, Outward Investment Directory published by the Investment Commission , the Ministry of Economic Affairs(MOEA)and the World Bank. The data from Taiwan Economic Journal (TEJ) is the listed and OTC companies annual financial statements in Taiwan and period from 1910-2010. The data of MOEA’s period commences from 1963 to 2010 for 48 years, a total of 2754 of the data are used for analysis purpose. Then, with the World Bank the countries characteristics database provided the data from 1990 to 2010. This research employs the SUR (seemingly unrelated regressions) Model, to examine the influences of internationalization motivation on Firm-specific advantages, and on the experience of internationalization. The empirical results show: 1. In the influences of internationalization motivation on Firm-specific advantages: The Marketing capability are not significant, and the R & D capabilities are active and significant in resource seeking and Strategic asset-seeking. 2. In the influences of internationalization experience on internationalization motivation are not significant, only partially supported in market-seeking. 3. Finally, when the firm-specific advantage are marketing and the internationalization motivation are market-seeking, the hypothesis are partially supported.