對外投資、技術購買對研發活動之影響－以台灣製造業廠商為例

Outward FDI, Technology Import and R&D Activities－Evidence from Taiwanese Manufacturing Firms

10.6342/NTU201700143

江俊佑

研發 ； 研發意願 ； 研發密度 ； 對外投資 ； 技術購買 ； Heckman Selection Model ； R&D ； R&D propensity ； R&D intensity ； outward foreign direct investment ； technology import ； Heckman Selection Model

國立臺灣大學經濟學系學位論文

2017年

碩士

劉碧珍

繁體中文

本文使用2001-2014年台灣上市製造業廠商資料，探討影響廠商研發活動之因素，特別針對廠商對外投資及技術購買對於研發活動的影響加以討論。 本文使用Heckman selection model作為實證模型，將廠商研發活動分為兩個階段，第一階段為選擇是否進行研發(研發意願)，在決定進行研發後，第二階段為選擇研發密度，除可解決樣本選擇偏誤問題，亦可同時探討廠商研發意願及研發密度之決定因素。另外，由於廠商對外投資、技術購買可能分別和研發活動存在相互影響的內生性問題，本文利用工具變數法解決之。 實證結果顯示，廠商整體對外投資對於其研發意願沒有顯著影響，但對研發密度有負面影響。若更進一步區分投資區域，廠商對中國投資對於其研發活動有負面影響，對已開發國家、其他國家投資則對研發活動有正面影響。另外，本文也發現廠商技術購買與研發活動呈現互補關係，顯示廠商技術購買並不會抑制研發活動，反而會以此為基礎投入更多研發。

This study draws on the data of manufacturing firms listed in Taiwan Stock Exchange for the period of 2001 to 2014 to explore the determinants of Taiwanese firms’ R&D activities. Specific focus will be placed on the issue of how firms outward FDI and technology import affect their R&D activities. This study treats a firm’s R&D activity as a two-stage decision. That is, in the first stage a firm decides whether to engage in R&D activities (referred to as R&D propensity), and then R&D intensity will be determined in the second stage once firms have decided to undertake R&D. Because of the possible selection bias problem that may arise from ignoring the relationship between the two stage decisions, we adopt Heckman selection model to solve for it. Furthermore, we also use instrumental variable approach to deal with the endogeneity problems that stem from the interactions among firms’ outward FDI, technology import, and R&D activities. The empirical results show that while cumulated outward FDI has insignificant impact on R&D propensity, its effect on R&D intensity is negative. We further divide a firm’s outward FDI into three parts according to its destination and find that the more FDI a Taiwanese firm invests in China the less R&D it undertakes in Taiwan. However, FDI in developed countries or other countries in fact encourages firms to increase their R&D activities at home. In addition, this study also shows that firms’ technology import have positive effect on their R&D activities, suggesting a complimentary relationship between technology import and owned R&D activities.

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