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題名:後進跨國公司在海外地理多角化之驅動因素分析 - 以臺灣電子企業為例
作者:古舒睿
作者(外文):GU SHURUI
校院名稱:國立雲林科技大學
系所名稱:企業管理系
指導教授:潘偉華
鍾從定
學位類別:博士
出版日期:2022
主題關鍵詞:地理多角化文化距離制度距離市場開放程度經驗知識geographical diversificationmarkets opennessexperiential knowledgecultural distanceinstitutional distance
原始連結:連回原系統網址new window
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國際化策略是後進跨國公司提高競爭力的重要途徑之一。後進跨國公司可以通過外資與外部資源的結合在國際市場上獲取資源和利潤優勢。在新興市場中,新興市場經濟體的地理多角化方法的有效性受到各種因素的影響。本研究以新興市場為標的,彌補了新興市場經濟體國際化理論的不足,在一定程度上對國際化理論進行了修正和拓展。
本研究試圖增修跳板理論,提出新興市場經濟國家國際化進程中動機、影響因素和績效的機制分析架構。以往關於國際企業的研究主要集中在發達經濟體的跨國企業,而對於新興市場企業國際化的相關問題並未被充分研究。因此,本研究基於跳板視角,通過量化分析,系統探討了新興市場經濟體國際化動機、路徑和績效的理論體系和作用機制。
本研究通過分析2008年至2017年臺灣經濟期刊資料庫中7850家在臺灣證券交易所上市的電子行業公司的資料,調查了市場開放度和經驗知識對新興市場跨國公司地理多角化績效的影響,通過面板資料回歸方法分析了文化距離和制度距離對心理距離的調節作用。本研究發現,當新興市場的開放程度越深,企業過往的海外投資經驗越充足時,尋求市場和資源激勵的新興市場企業國際化對其國際化績效的提高具有積極影響。其中,文化距離和制度距離對新興市場經濟體的國際化及其國際化績效也有重大影響。進一步研究發現,市場開放度和經驗知識對新興市場跨國公司的地理多角化績效有顯著影響。此外,本研究結果表明,市場開放度和經驗知識的影響在統計學上顯著受文化距離和制度距離的調節。因此,瞭解文化和制度差異對海外國際化戰略的影響有利於新興市場跨國公司的海外國際化戰略制定和競爭力的提升。
本研究的發現也有助於從跳板理論的角度進一步探討新興市場跨國公司的地理多角化的戰略研究,從而為現有文獻做出貢獻。本研究的結果對新興市場跨國公司也提出了有益的見解,並對政府、投資者和研究人員關於如何提高公司績效提出相關管理啟示。
Internationalization strategy is one of the important ways for emerging market multinationals (EMNEs) to enhance their competitiveness. Latecomer enterprises can obtain resources in the international market and make profits through foreign investment connect with external resources linkage, leverage, and learning. The effectiveness of overseas geographical diversification approach of EMNEs is affected by various factors. This study fills this research gap to make up for the deficiency of the theory of the internationalization process of EMNEs, and modifies and expands the internationalization process theory to a certain extent.
This research attempts to extends the springboard theory by putting forward the mechanism analysis framework of motivation, influencing factors and performance in the international process of EMNEs. Previous studies on international enterprises mainly focused on multinational enterprises in developed economies, researches on the internationalization of enterprises in emerging markets are still under explored. This research systematically discusses the theoretical system and action mechanism of internationalization motivation, path and performance of EMNEs through empirical test based on the springboard perspective.
By analyzing the data of 7850 electronics firms listed on the Taiwan Stock Exchange in Taiwan Economic Journal database from 2008 to 2017, this study examines the effects of markets openness and empirical knowledge on the performance of EMNEs’ geographic diversification, and the moderating effects of psychic distance measured by cultural distance (CD) and institutional distance (ID) through panel data regression. The results first reveal the internationalization of EMNEs motivated by seeking markets and resources has a positive impact on the improvement of their internationalization performance when the deeper the openness of emerging markets and the more sufficient the past overseas investment experience. In addition, CD and ID also have a significant impact on the internationalization of EMNEs and their internationalization performance. Further, the results suggest that the effect of markets openness and experiential knowledge are significantly impact on EMNE’s geographical diversification performance. In addition, the results also show that the effect of markets openness and experiential knowledge are statistically significant moderated by CD and ID. Therefore, it is beneficial for EMNEs to understand the impact of cultural and institutional differences on overseas internationalization strategy. The findings of this study contribute to the existing literatures by further the springboard view on EMNE’s geographical diversification. This study should prove beneficial insight for various firms and have several implications for government, investors, and researchers to enhance the firm performance.
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