廠商海外投資股權模式關鍵影響因素之研究－台商赴東南亞投資之實證分析

Critical Influencing Factors of Ownership Mode of Taiwanese Firms' Foreign (South-East Asian) Affiliates

李文瑞(Wen-Ruey Lee)

《管理評論》 19卷3期 (2000/09) Pp. 25-49

https://doi.org/10.6656/MR.2000.19.3.CHI.25

摘要

本研究利用涵蓋7種行業之131家赴東南亞投資台商為實證對象，探討地主國特性因素、廠商特性因素、與投資交易特性因素對其海外投資股權模式之影響。經由Logistic Regression Model進行實證分析，研究結果發現：地主國的國家風險與政策限制、台商的投資策略動機與其技術知識之隱涵性或潛藏性、以及台商過去所擁有合資或聯盟的經驗次數與經驗性質之交互作用均對其海外股權模式具有顯著的影響。其中台商技術知識之隱涵性或潛藏性以及在當地生產加工出口之投資策略動機將促使台商以獨資模式赴當地投資設廠，其餘各項因素則與台商以合資模式赴海外當地發展呈顯著的正向關係。

關鍵字

股權模式 ； 國家風險 ； 廠商特性 ； 交易成本

並列摘要

This study explores critical influencing factors of ownership mode of Taiwanese firms' foreign affiliates. By applying Logistic Regression Analysis, 131 firms representing 7 industries are analyzed. Findings of this research indicate that tacitness or embeddedness of Taiwanese firms' technology (know-how) and their export-oriented investment motive are significantly and positively correlated with sole proprietorship mode. Country risk and foreign ownership control of host nations, local market-oriented investment motive, and interaction between firm's experience with joint venture and success of that experience are significantly and positively correlated with joint venture mode.

並列關鍵字

Ownership Mode ； Country Risk ； Firm Characteristics ； Transaction Cost

參考文獻

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