دانلود رایگان مقاله تصمیم سرمایه گذاری مستقیم خارجی و کنترل داخلی کسب و کار گروهی

ABSTRACT

Based on resource-dependence theory, three hypotheses are developed and tested regarding the negative relationship between equity stakes in group-affiliated firms held by business-group headquarters and (1) the slack resources of group-affiliated firms, (2) the products of group-affiliated firms that are similar to those of the business-group headquarters, and (3) the human capital of groupaffiliated firms. OLS regressions are used to test the hypotheses on a sample of existing group-affiliates of 218 business-groups entering the China market to establish a new affiliate, including 1015 observations during the 2004–2011 period. This study points to a new avenue for research on international business and business-group literature regarding ownership relations between group-affiliated firms and business-group headquarters.

6. Conclusion

The FDI strategies of firms in one of the Asian NIEs (i.e., Taiwan) with respect to a rapidly emerging market (i.e., China) are now a major field of study in international business. Many earlier studies focused only on the FDI strategies of firms in the advanced economies that were investing either in other advanced economies or in the emerging economies; only recently have scholars begun to explore this more recent phenomenon. Based on resourcedependence theory and an institutional perspective, the present study points to a new avenue for research on the ownership relationship between Taiwanese business-group headquarters and group-affiliated firms in China’s large emerging economy. Thus this study has both practical and theoretical implications with respect to the key activity of FDI and emerging economies.