在過往關於對外直接投資的文獻中,過度簡化製造商與消費者之間的連結,因此往往忽略了零售商在對外直接投資中所可能造成的影響。而在零售商的相關文獻中,雖然針對零售商與製造商的互動關係有詳盡的討論,但是卻沒有文獻意識到在對外直接投資上所可能發生的影響力。本文的目的在於填補此一缺口,針對零售商究竟在對外直接投資活動中扮演何種角色,進行探討。 對於近年來逐漸茁壯的超級零售商現象,是否會造成製造商對外直接投資意願的增加?從成本面來討論,零售商邊際成本的下降,無論在何種模型結構下,都將會使製造商對外直接投資意願增加。但零售商的談判能力上升,卻對製造商外移意願有著不確定的影響。在上、下游獨占模型中,隨著零售商談判能力的上升,將會使製造商對外投資意願下降。但是在上游獨占模型以及下游獨占模型中,零售商談判能力的上升,對製造商對外直接投資意願的影響效果並不確定。而超級零售商兼具低邊際成本與高談判能力之特性,因此超級零售商的出現,並不必然會造成製造商外移意願的增加。
In last decade the powerful retailers like Wal-Mart get amazingly expanding. Such powerful retailers usually have a low marginal cost and high bargaining power, that means they can get more market share and haggle the wholesale price of manufacturers. In the same time, more and more manufacturers go to FDI. These manufactures move their factory to the host country for cheaper labors. Some critic point out that powerful retailers make manufacturers go to FDI, because these manufacturers can’t survive under haggling in investment country. This paper find that the low marginal cost of retailer really make manufacturers go to FDI. But the high bargaining power of retailers may make manufacturers go to FDI or may not. So we can’t sure the powerful retailers like Wal-Mart is the reason of manufacturers’ FDI or not in theory.