How Does International Licensing Affect FDI?

跨國授權如何影響外人直接投資？

王光正(Andy Kuang-Cheng Wang)；王羿傑(Yi-Jie Wang)；梁文榮(Wen-Jung Liang)

跨國授權 ； 進入模式 ； 訊息優勢 ； 跨越關稅 ； 彈性 ； International licensing ； Entry mode ； Informational advantage ； Tariff jumping ； Flexibility

經濟論文

44卷3期（2016 / 09 / 01）

361 - 386

英文

本文探討跨國授權對人直接投資(FDI)的策略性影響。我們考慮了廠商FDI的兩個常見的原因：取得市場訊息與跨越關稅。本文的主要結果為：第一、若廠商FDI只為了取得市場訊息，當市場不確定變異數、研發強度與FDI投資成本小時，跨國授權會促進FDI的進行；其他的情況，外國廠商會持續以出口進入本國市場。第二、當場傷FDI同時有取得市場訊息與跨越關稅優勢時，跨國授權可能會促進FDI，也可能會阻礙FDI；跨國授權是否會促進與阻礙FDI的關鍵，取決於FDI固定成本與地主國需求變異數的大小。

We examine the strategic influence of international licensing on foreign direct investment (FDI) inflows by taking into account the informational and tariff-jumping advantages of FDI, which are the most common reasons why multinational firms undertake FDI. We obtain two main results as follows. First, provided that only the informational advantage of FDI is considered, international licensing can encourage FDI inflows if the variance of demand, innovation size, and fixed setup cost of FDI are small, while the foreign firm continues to select exporting otherwise. Second, when the two advantages of FDI are involved simultaneously, the effect of international licensing on FDI inflows is ambiguous, and depends upon the magnitudes of the fixed setup cost of FDI and the variance of demand in the domestic market.

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