Please use this identifier to cite or link to this item: http://hdl.handle.net/11455/28472
標題: 台商赴中國大陸投資之實證分析
An Empirical Study of Taiwan Multinational Investment in China
作者: 郭芝延
Kuo, Chih-Yen
關鍵字: Taiwan investment in China
台商投資大陸
determinant
Logit Model
Probit Model
Tobit Model
決定因素
Logit 模型
Probit模型
Tobit模型
出版社: 應用經濟學系所
引用: 一、中文部份 吳麗生 (2001),影響台商投資大陸西部之發展策略及區位因素分析,國立中山大學大陸研究所碩士論文。 胡名雯、何重慶、卓正中 (2008),臺灣企業對大陸地區投資行為轉變之研究,第八屆中國經濟學會年會。 胡名雯、陳明園、江雅玲 (2005),台灣中小企業赴大陸投資傾向之比較與分析,企銀季刊,28:1,頁159-174。 陳伯榮 (2004),臺灣製造業赴大陸直接投資之決定因素,台北大學合作經濟研究所碩士論文。 康信鴻、廖婉孜 (2006),影響台商赴大陸投資額與投資區位因素之實證研究,成大管理期刊,26:1,頁15-38。 蔡宜臻、邱俊榮 (2009),跨國廠商的進入模式—直接投資、出口與授權決策,經濟論文,37:1,頁1-26。 二、英文部分 Altomonte, C. and C. Guagliano (2003), “Comparative Study of FDI in Central and Eastern Europe and the Mediterranean,” Economic Systems, 27(2), 223-246. Amemiya, T. (1981), “Qualitative Response Models: A Survey,” Journal Economic Literature, 19, 483-586. Ang, J. B. (2008), “Determinants of Foreign Direct Investment in Malaysia,” Journal of Policy Modeling, 30(1), 185-189. Bevan, A. A. and S. Estrin (2004), “The Determinants of Foreign Direct Investments into European Transition Economies,” Journal of Comparative Economics, 32(4), 775-787. Buch, C. M., R. M. Kokta and D. Piazolo (2003), “Foreign Direct Investment in Europe: Is There Redirection from the South to the East?”, Journal of Comparative Economics, 31(1), 94-109. Buckley, P. J. and M. Cassons (1976), The Future of Multinational Enterprises, London: Macmillan. Carsensen, K. and F. Toubal (2004), “Foreign Direct Investment in Central and Easter European Countries: A Dynamic Panel Analysis,” Journal of Comparative Economics, 32(1), 3-22. Caves, R. E. (1971), “International Corporations: The Industrial Economics of Foreign Investment,” Economica, 38, 1–27. Chen, T. Y., Y. H. Ku and M. C. Liu (1995), “Direct Investment in Low-wage and High-wage Countries: The Case of Taiwan,” Corporate Links and Foreign Direct Investment in Asia and Pacific, 262-274. Cheng, L.K. and Y.K. Kwan (2000), “What are the Determinants of the Location of Foreign Direct Investment? The Chinese experience,” Journal of International Economics, 51, 379-400. Coughlin, C.C. and E. Segev (2000), “Foreign Direct Investment in China: A Spatial Econometric Study,” The World Economy, 23, 1-23. Desbordes, R. and V. Vicard (2009), “Foreign Direct Investment and Bilateral Investment Treaties: An International Political Perspective,” Journal of Comparative Economics, 37(3), 372–386. Du, J., Y. Lu and Z. Tao (2008), “Economic Institutions and FDI Location Choice: Evidence from US Multinationals in China,” Journal of Comparative Economics, 36(3), 412-429. Dunning, J. H. (1980), “Toward an Eclectic Theory of International Production: Some Empirical Test,” Journal of International Business Studies, 11(1), 9-31. Galan, F. I. and F. Gonzalez-Benito (2001), “Determinant Factors of Foreign Direct Investment: Some Empirical Evidence,” European Business Review, 13(5), 269-278. Gao, T. (2005), “Labor Quality and the Location of Foreign Direct Investment: Evidence from China,” China Economic Review, 16, 274-292. Gao, T. (2005a), “Foreign Direct Investment form Developing Asia: Some Distinctive Features,” Economics Letters, 85(1), 29-35. Hall, R. E. and D. W. Jorgenson (1967), “Tax Policy and Investment Behavior,” American Economic Review, 57(3), 391-414. Hara, M. and I. F. Razafimahefa (2005), “The Determinants of Foreign Direct Investments into Japan,” Kobe Economic and Business Review, 51, 21-34. He, Y. and F. Long (2003), “Market Expansion Versus Cost Reduction: A Financial Analysis of Foreign Direct Investment Advantages for Multinational Enterprises,” Japan and the World Economy, 15(4), 407-417. Head, K. and J. Ries (1996), “Inter-city Competition for Foreign Investment: Static and Dynamic Effects of China’s Incentive Areas,” Journal of Urban Economics, 40, 38-60. Hong, M. and L. S. Chen (2001), “Quantitative and Dynamic Analysis of the OLI Variables Determining FDI in China,” Review of Urban and Regional Development Studies, 13(2), 163-172. Hong, J. and A. T.H. Chin (2007), “Modeling the Location Choices of Foreign Investments in Chinese Logistics Industry,” China Economic Review, 18(4), 425-437. Hymer, S. H. (1960), The International Operations of National Firms: A Study of Direct Foreign Investment, by Ph.D. Thesis, MIT, MIT Press, Cambridge, MA, 1976. Jorgenson, D.W. (1963), “Capital Theory and Investment Behavior”, American Economic Review, 53(2), 247-259. Kang, S. J. and H. S. Lee (2007), “The Determinants of Location Choice of South Korean FDI in China,” Japan and the World Economy, 19(4), 441-460. Kojima, K. (1978), Direct Foreign Investment: A Japanese Model of Multinational Business Operations, New York: Praeger. Kuo, C. C and J. T. Huang (2003), A Regional Analysis on the Determinants of Foreign Direct Investment Toward Mainland China, Paper presented at the Western Economic Association International Pacific Rim Conference, January 9-12, 2003. Kuo, H. C. and L. Yang (2003), “A Dynamic Decision Model of SMEs’ FDI,” Small Business Economics, 20, 219-231. Lien, Y. C., J. Piesse, R. Strange, and I. Filatotchev (2005) , “The Role of Corporate Governance in FDI Decisions: Evidence from Taiwan,” International Business Review, 14, 739-763. Lin, F. J. (2010), “The Determinants of Foreign Direct Investment in China: The Case of Taiwanese Firms in the IT Industry,” Journal of Business Research, 63(5), 479-485. Liu, X., H. Song, Y.Wei, and P. Romilly (1997), “Country Characteristics and Foreign Direct Investment in China: A Panel Data Analysis,” Weltwirtschaftliches Archiv, 133(2), 313-329. Lösch, A. (1954), The Economics of Location, Yale University Press, New Haven. Maddala, G. S. (2001), Introduction to Econometrics, published by John Wiley & Sons Ltd, England. Majocchi, A. and M. Presutti (2009), “Industrial Clusters, Entrepreneurial Culture and the Social Environment: The Effects on FDI Distribution,” International Business Review, 18(1), 76-88. Ozawa, T. (1979), “International Investment and Industrial Structure: New Theoretical Implications from the Japanese Experience,” Oxford Economic Paper, 31, 72–79. Palander, T. (1935), Beiträge zur standortstheorie, Almqvist und Wiksells Boktryckeri -A. -B., Uppsala. Quer, D. and E. Claver (2007), “Determinants of Spanish Foreign Direct Investment in Morocco,” Emerging Markets Finance and Trade, 43, 19-32. Resmini, L. (2003), “The Determinants of Foreign Direct Investment in the CEECs: New Evidence from Sectoral Patterns,” Economics of Transition, 8(3), 665-689. Russ, K. N. (2007), “The Endogeneity of the Exchange Rate as A Determinant of FDI: A Model of Entry and Multinational Firms,” Journal of International Economics, 71, 344-372. Sun, Q., W. Tong and Q. Yu (2002), “Determinants of foreign direct investment across China,” Journal of International Money and Finance, 21, 79-113. Tsai, P. L. (1991), “Determinants of Foreign Direct Investment in Taiwan: An Alternative Approach with Time-Series Data,” World Development, 19(2-3), 275-285. Urata, S. and H. Kawai (2000), “The Determinants of the Location of Foreign Direct Investment by Japanese Small and Medium-sized Enterprises,” Small Business Economics, 15, 79-103. Vernon, R. (1966), “International Investment and International Trade in the Product Trade,” Quarterly Journal of Economics, 80, 190-207. Walkenhorst, P. (2004), “Economic Transition and the Sectoral Patterns of Foreign Direct Investment,” Emerging Markets Finance and Trade, 40(2), 5-26. Wang, Z.Q. and N.J. Swain (1995), “The Determinants of Foreign Direct Investment in Transforming Economies: Empirical Evidence from Hungary and China,” Review of World Economics, 131(2), 359-382. Weber, A. (1909), Theory of the Location of Industries, Chicago: The University of Chicago Press. Yehoue, E. B. (2009), “Clusters As a Driving Engine for FDI,” Economic Modeling, 26, 934-945. Zhang, K. H. (2005), “Why Does So Much FDI from Hong Kong and Taiwan Go to Mainland China?”, China Economic Review, 16, 293-307. Zhou, C., A. Delios and J. Y. Yang (2002), “Locationa Determinants of Japanese Foreign Direct Investment in China,” Asia Pacific Journal of Management, 19(1), 63-86.
摘要: 自台灣開放台商至對岸投資以來,中國大陸一直是我國對外投資的首要地區,因此,了解影響台商從事中國大陸投資活動之決定性因素,實為一值得探討的議題。本研究係以2000年~2008年之443家台灣上市櫃公司為研究對象,利用Logit 模型、Probit模型及Tobit模型,分析台商於決定是否赴中國大陸投資及選擇投資地區、投資金額與投資家數等相關投資決策時之考量因素。此外,本研究亦嘗試將個體變數、總體變數與產業虛擬變數同時納入模型作估計,研究結果顯示,台灣上市櫃公司於制訂相關赴中國大陸之投資決策時,較著重於具有公司特性的個體因素及產業因素,而總體因素僅有相對工資會對公司是否要投資中國東部地區造成影響,其中,個體面的公司經營績效及公司規模不管對哪一種投資決策均為正向顯著的影響,而公司外銷比例唯有對決定是否赴中國西部地區投資沒有顯著影響外,其對其他投資決策均具有顯著正向影響,另外,公司資本額除了在決定投資金額時有顯著正向影響之外,其對其他投資決策均為顯著的負向影響。而當投資區域越往西部時,台灣上市櫃公司之投資機率越小,且多數解釋變數對投資機率之邊際影響亦是越往西部影響程度越小。
China has been the primary investment area since the government permitted Taiwanese multinationals to invest in China; therefore, to understand the determinants that affect Taiwanese multinationals' decision to engage in foreign investment in China is a topic worth exploring. This study analysis the decisive factors that impact on Taiwanese multinationals' intention to invest in China and the choice of investment areas, the amount of investment and the number of invested subsidiaries through Logit Model, Probit Model and Tobit Model, using a sample of 443 Taiwanese listed companies between 2000 and 2008. Furthermore, this study tries to take individual variables, macroeconomic variables and industry dummy variables into account at the same time. From the empirical result, we find that Taiwanese multinationals put more emphasis on the individual factors and the industry factors which include company characteristics, while there is only relative wage in macroeconomic variables that will impact on company's decision to invest in the east of China. On the microeconomic aspect, company performance and company size have a significantly positive effect on no matter which kind of investment decision-making; similarly, company export orientation also makes a strongly positive impact on the investment decisions, yet it has no significant influence on the determination of investing in the west of China. Moreover, company capital, with the exception of having a significantly positive effect on the amount of investment decision-making, is strongly and negatively correlated with any investment determination. In addition, the more western the invested region is, the less possibly Taiwanese multinationals' investment take place, and so does the marginal effect of most of the independent variables to investment possibility.
URI: http://hdl.handle.net/11455/28472
其他識別: U0005-2006201010192900
文章連結: http://www.airitilibrary.com/Publication/alDetailedMesh1?DocID=U0005-2006201010192900
Appears in Collections:應用經濟學系

文件中的檔案:

取得全文請前往華藝線上圖書館

Show full item record
 
TAIR Related Article
 
Citations:


Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.