台商赴大陸投資所有權進入模式決定因素的分析

An Empirical Study on Ownership Entry Mode of Taiwanese Enterprises in China

高長(Charng Kao) ； 陳威如(Wei-Ru Chen)

《管理學報》 15卷3期 (1998/09) Pp. 393-418

https://doi.org/10.6504/JOM.1998.15.03.03

摘要

企業在海外投資的所有權進入策略選擇，是投資成功與否的關鍵因素之一，目前中國大陸是台灣對外投資的首要地區，本文利用中華經濟研究院於1994年針對大陸地區286家台商企業抽樣調查資料，研究大陸台商所有權進入策略的決定因素，結果發現當地政府政策愈開放、台商移轉愈多專屬優勢及企業勞力密集度愈高時，台商愈傾向採取獨資型態或持有多數股權。其中廠商專屬優勢的移轉，台商以生產技術和營運資金的提供、中方以廠房土地的提供最具談判股權的優勢地位。投資動機、對當地文化熟悉程度、企業的技術密集度、以及行銷管道之提供、主導購置機器設備等廠商轉屬優勢，對大陸台商的所有權進入模式之選擇並沒有顯著的影響。

關鍵字

所有權進入模式 ； 海外投資 ； 合資企業 ； 中國大陸 ； 台商企業

並列摘要

According to the statistics of the United Nations, PRC has become one of the most attractive areas for international investment within recent years, and many MNEs are still looking for an appropriate entry strategy for the future successful investment. This study examines the determinants of ownership entry modes in the manufacturing sector of Taiwan’s investment in China. By using a sample of 286 Taiwanese enterprises entering into Mainland China, the following findings are obtained:
Ownership entry modes were significantly affected by the investment polices of local governments, contribution of firm-specific advantages and several industry-specific characteristics. With the PROBIT model, we found strong support for hypotheses of bargaining power theory, especially when MNEs provide working capital or production technology, they would gain the dominant bargaining position to ask for more shares of equity.

並列關鍵字

Ownership entry mode ； FDI ； Joint Ventures ； China ； Taiwanese enterprises

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