中国企业OFDI进入模式选择研究外文翻译资料
2022-12-11 20:07:25
Dunningrsquo;s eclectic or the OLI framework suggests that MNCs exist and grow due to possession of ownership (O) advantages consisting of the tangible and intangible assets of the firm (including technology); location (L) advantages consisting of production factors such as transportation, infrastructure, and human and natural resources available in the host country; and internalisation (I) advantages owing to firmrsquo;s competitive advantage in producing internally rather than selling or licensing technologies to others. There are several studies that have analysed MNCs of developed country origin from the perspective of both developed (home) and other developed or developing (host) countries. Recently, however, MNCs from developing countries are also making their presence felt in the world. Yet, there are hardly any studies that analyse MNCs of developing country origin.
Using data on 130 firms from the high-tech Information Technology (IT) industry of India, we investigate whether ownership advantages (O), as proposed in the eclectic theory, holds true for the presence of MNCs from developing countries. Specifically, we analyse whether firm-specific technological advantages generated through differential technology sourcing at home (India) are important in determining inter-firm differences in the decision to invest abroad. The technological sources considered are in-house Ramp;D efforts, import of designs, drawing and blueprints, and import of capital goods. The study reveals that in-house Ramp;D efforts are indeed important for the firms to invest abroad. Size and export intensity of the firm also influence the decision of the firm to invest abroad. The study recommends a proper innovation and resource management strategy for developing country firms for efficient allocation of resources, technology sourcing, and technology assimilation.
1. Introduction
Over the last fifty years, foreign direct investments (FDI) and multinational companies (MNCs) have captured the interest of many researchers. Theories have been proposed to explain FDI, and existence and growth of MNCs (et al., 1985; et al., 1993 ; Dunning, 2000). Several empirical studies have attempted to verify the appropriateness of these theories in the context of developed countries (Balestra and Negassi, 1992; Co, 2001 ; Kumar, 2001).
Complementing these studies on developed countries are some studies that have analysed inward FDI from developing country perspective (et al., 1980; Kumar, 1994; Athukorala et al., 1995 ; Siddharthan and Rajan, 2002). These papers have especially looked into the role of FDI and MNCs in determining competitiveness in developing and transitional economies.
World Investment Report (UNCTAD, 2006) noted that the global FDI outflow was around $779 billion in the year 2005. Although most of these outward FDI were from developed countries, approximately 17 percent of the world FDI in the year 2005 came from developing economies. According to UNCTAD (2006) this is a substantial increase from investment values in the previous years. In the case of India, the outward FDI stock as a percentage of gross domestic product (GDP) increased from 0.4 percent in 2000 to 1.2 percent in 2005 (UNCTAD, 2006).
In such a scenario, where the developing country firms are also making their presence felt in global market through outward FDI, there is an impending need to have a better understanding of MNCs from developing countries. However, only a few studies have tried to analyse the MNCs of developing country origin (Kumar, 1982; Lall, 1982; Pradhan, 2004; Cuervo-Cazurra, 2007; Rugman and Li, 2007 ; Narayanan and Bhat,
在IT行业,技术变革的速度非常快的情况下,这将是非常重要的企业在印度不断升级他们的技术,通过对多个技术来源的投资。因此,在技术采购模式的差异可能会导致差异所有权的具体优势,在公司。