摘要
本文运用多案例研究方法,选取四家重庆摩托车企业的八次对外直接投资案例,对企业能力、竞争强度如何影响企业对外直接投资动机的形成进行了探讨。研究发现,我国摩托车企业的对外直接投资动机主要表现为寻求海外市场。当企业不具备技术相关能力和市场相关能力的相对优势,面临竞争者增多、价格竞争增强的情况时,企业容易产生防御型市场寻求的对外直接投资动机,并且如果主要竞争者已在目标市场投资,更容易促发企业形成这类动机。当企业具备技术相关能力和市场相关能力的相对优势,同时又面临竞争者增多、价格竞争增强的情况时,企业容易产生进攻型市场寻求的对外直接投资动机,并且如果主要竞争者尚未在目标市场投资,更容易促发企业形成这类动机。
Outward foreign direct investment（OFDI） from People＇s Republic of China increased dramatically since 2000.China＇s OFDI net flows reached US$56.53 billion in 2009,ranking China fifth overall in direct foreign investor,up from 12th in 2008.The question that why do more and more Chinese firms invest overseas has attracted researchers＇ interest recently.In this paper,we focus on two important factors that stimulated Chinese firms to invest overseas：firm capability and competitive intensity.And we explore the relationships between the two factors and firms＇ OFDI motivation through a multiple case study.We propose a theoretical analysis framework before case data analysis.According to this framework firm capability would be analyzed in two dimensions：technology-related capabilities and market-related capabilities,while firms＇ OFDI motivation would be analyzed in three dimensions：market-seeking OFDI motivation（offensive market-seeking OFDI motivation and defensive market-seeking OFDI motivation）,efficiency-seeking OFDI motivation and strategic-asset seeking OFDI motivation.We chose eight OFDI projects conducted by four Chinese motorbike firms as case sample.The results of case study show that offensive market-seeking OFDI motivation and defensive market-seeking OFDI motivation are the main reason for motorbike firms to invest overseas.Firms are more likely to have offensive market-seeking OFDI motivation when they are facing higher product market competition and having advantages on technology-related capabilities and market-related capabilities.Firms are more likely to have defensive market-seeking OFDI motivation when they are not having advantages on technology-related capabilities and market-related capabilities but facing higher product market competition.Firms＇ offensive market-seeking OFDI motivation will be stronger when their competitors haven＇t invested in target market.Firms＇ defensive market-seeking OFDI motivation will be stronger when their competitors have already invested in target market.We found that the effect of firm capability and competitive intensity on firms＇ efficiency-seeking OFDI motivation were not so obvious.Firms consider host country factors more when they want to seek efficiency through OFDI.And we didn＇t found any motorbike firm in Chongqing aimed to seek strategic-asset through OFDI nowadays.
出处
《南开管理评论》
CSSCI
北大核心
2010年第6期68-76,共9页
Nankai Business Review
基金
国家自然科学基金面上项目(70772047)
国家社会科学基金重大项目(08AJY036)资助
关键词
企业能力
竞争强度
对外直接投资动机
案例研究
Firm Capability
Competitive Intensity
Outward Foreign Direct Investment Motivation
Case Study
