论文标题:跨国公司在华独资经营倾向研究
A Case Study of Agenda Management in Corporate Meetings
论文作者 仲峰
论文导师 章昌裕,论文学位 硕士,论文专业 国际贸易
论文单位 对外经济贸易大学,点击次数 75,论文页数 52页File Size3045k
2004-04-01论文网 http://www.lw23.com/lunwen_210525092/ 跨国公司,独资经营,动因,对策
MNC,WFOE,Reason,Proposal
1997年，中国第一次出现新批外商独资企业数目超过中外合资企业数目的现象。从1998年起，合同外资金额中外商独资企业一直多于合资企业。实际使用的外资金额则从2000年起独资企业超过合资企业。2001年中国加入世界贸易组织后，跨国公司在华投资的独资化倾向更加突显。据《中国对外贸易年鉴》的资料显示，2003年，新批合资企业占全部外商企业的比重下降为30.48％；而而外商独资企业占全部外商投资企业的比重则高达65.56％。从宏观层面的数据可以看出，成立独资经营公司已经成为跨国公司在华直接投资的一种主导方式。从微观层面上看，越来越多的合资或合作企业在中国经营数年后，通过增资扩股，转变为母公司多数控股型合资企业甚至独资企业。跨国公司为什么倾向于新建独资企业或倾向于进入由合资到外资多数控股再到外商独资的轨道?这种倾向对中国经济增长、利用外资的绩效、产业竞争力、内资企业成长等诸多方面又有哪些影响?国家和国内的企业在新形势下将如何调整自己的引资战略和发展战略? 针对上述问题，笔者在中外经济学者研究成果的基础上，结合中国的实际情况展开研究，从宏观、微观两个层面剖析跨国公司在华投资的独资化倾向产生的深层次原因，分析其对中国内资企业和中国经济造成的影响，然后提出相应的应对措施建议。 从文章的结构来看，本文分为四大部分，每部分各成一章： 第一部分是跨国公司在华投资模式与理论分析。这一部分通过四节内容分别介绍了：1、跨国公司国际直接投资的国外参股形式选择；2、跨国公司参股形式选择的理论分析；3、跨国公司在华独资经营的发展历程；4、跨国公司在华独资经营现状。 第二部分从宏观、微观两个层面剖析跨国公司在华独资倾向产生的动因。这部分是本文的重点，也是文章的创新性所在。通过研究分析，笔者认为外资优惠政策吸引、国家风险降低只构成跨国公司进入中国投资的前提条件，并不是跨国公司在中国投资独资经营倾向产生的根本原因。相反，在东道国政府管制政策、市场发育程度、法律完善程度以及当地企业经营优势给定的前提下，跨国公司作为一个盈利主体，它在进行股权结构决策时更多的会把立足点和着眼点放在公司经营的层面上，因此，微观层面上内部、外部交易成本与公司整体收益之间的平衡才是推动跨国公司倾向独资化经营的根本动力。 第三部分，分析跨国公司在华独资倾向增强对中国经济的影响。 第四部分，就跨国公司独资经营倾向发展问题提出企业和政府方面的应对措施建议。该部分以文章第一部分跨国公司在华独资经营现状为分析对象，以第二部分成因分析为依据，结合第三部分跨国公司在华独资倾向增强对中国经济的影响，为内资企业和政府企业提供应对跨国公司独资经营倾向的措施建议。内资企业作为一国经济的微观个体，直接参加市场竞争，首先直接受到跨国公司独资化趋势的影响，而且企业微观层面的原因是推动跨国公司倾向独资化经营的主要、根本动力。从企业生存、发展的角度讲，内资企业最迫切得需要采取措施积极应对跨国公司的独资化浪潮，因此该部分侧重了对企业应对措施的分析。 本文的研究方法和新颖性主要体现在:今结合中国实际，注重模型运用。在宏观层面分析时借助Yigang Pan的11因 素模型与研究成果，分析跨国公司在华投资与模型相符之处;找出现实状况 与模型分析结论一些相悖之处，引用跨国公司股权结构战略两阶段演进模型 从微观层面对跨国公司独资经营倾向产生的原因进行实证分析。今本文在对国家风险和优惠政策方面的宏观分析中，结合与日本、韩国国家引 资政策的比较，得到的研究结论与目前国内学者的观点不同(一些学者认为 独资倾向是中国投资优惠政策和国家风险降低的结果)。.通过分析典型案例说明问题。.本文包括了跨国公司在华投资和中国利用外资中的热点问题(如民族工业， 平衡外资政策等)并针对这些问题提出见解、提供相关建议。
Since 1970"s when China began to open its market and to use foreign direct investment, for twenty years, the number of joint- ventures had always been more than that of wholly-foreign-owned enterprises (WFOE). But in the year of 1997, the situation changed. From then, the foreign investments in China have been moving towards WFOE dramatically. For example, the statistics of "China Foreign Trade and Economics Avenue "of 2003 shows that of all the new foreign invested projects, joint ventures take only 30.48%, while WFOE take 65.56%. What is more, more and more foreign investors change the established joint ventures to WFOE by purchasing Chinese partners" shares. Why are WFOEs taking hold in the current environment? What are the effects produced by this movement towards WFOE on China"s economy development, the efficiency of using foreign investments as well as the survival and growth of China"s home enterprises? And what corresponding methods can Chinese government take to guide the MNCs" investment in China? How can the home enterprises adjust their development strategy to meet the challenges produced by this investment movement of MNCs?To answer the above-mentioned questions, based on the previous research of Chinese and foreign economists, the author combined this with the actual investment situation in China, and from macro and micro aspects, analysis the reasons that caused WFOES taking hold dramatically since the year of 1997 as well as the effects it takes on China"s economy and home enterprises. At last, the author proposes some corresponding suggestions both for the government and for the enterprises.As to the structure, the article is divided into four sections, each sections forms one chapter:Chapter 1 is on the choice of entry mode of MNC and theory analyses. Through four parts, this chapter introduces the following contents: (1) the choice of MNCs entry mode when entering foreign market; (2) the relative theory analysis; (3) the history of MNCs" investments in China ;(4) the present situation of MNCs" investments in China.Chapter 2 dealing with the analysis of the power that push foreign investments towards WFOE, is the core part of this article, which embodies the author"s extra-ordinary view. Through profound research, the author draws her conclusion that attractive investment policy and decreasing country risk do not play a determinative role in the choice of MNC"s entry mode as WFOE in China. Instead, pioneering MNCs, as the typical profit-centers, pay more attention on their revenue and transaction costs, thus the elements that increase the cost are the real power driving MNCs to choose to operate as WFOEs in China.Chapter 3 deals with the effects of the movement on China"s economy and home enterprises.Chapter 4 proposes relative suggestions, based on the premise analysis such as investments situation and reasons. Enterprise, as a team player in the world game, is the one directly facing the challenges from the MNCs. Therefore, in this chapter the author emphasize on the contents of the enterprises" proposals.This article mainly embodies the following research ways and the extra-ordinary features: Based on actual investment situation in China, using the numerical modes to do the research. When discussing the reasons in macro-scope, the author use the research results of Yigang Pan" mode to support her view and pick out some discrepancies between Yigang Pan"s research and some investment facts in China. Then the author utilizes the Two-Stage Mode to continue the further research. Comparing China"s investment policy with that of other Asian countries, the author draws her conclusion that investment policy and country risk do not play the determinative role in the choice of MNC"s entry mode as WFOE in China. Analysising many typical cases. Consisting of such hot topics in FDI fields in current environment as adjusting investment policy, how do the home enterprises learn from MNCs during this burial process of cooperation and competition and so on.
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