文化差异与跨国公司在华投资的独资化倾向

Culture Differences and the Wholly Ownership Tendency of Multinationals Corporations in China

近年来,在华投资的跨国公司呈现出日益显著的独资化倾向。本文在交易成本理论的基础上分析了跨国公司母国与我国的文化差异对其进入模式的影响。在对两者关系提出理论假设后,以2004年我国外商投资企业销售收入排名前500名的企业为样本,以文化距离和心理距离为解释变量,建立logit模型进行实证分析。研究结果表明,跨国公司母国与我国的文化距离越大,其在华投资越倾向于合资经营,而跨国公司母国与我国的心理距离越大,其在华投资越倾向于独资经营。

In recent years, multinational corporations in China display notable “wholly owner- ship” tendency. This paper analyzes the culture differences and multinational corporations＇ entry mode. After bring forward the theory hypothesis to the both relations, the paper experientially re- searches both relations with sales income row called the first 500 of China＇s foreign-investment en- terprises in 2004, and takes culture distance and psychic distance as independent variables and builds up a logit model. The study result indicates that the bigger the culture distance is, the investment inclines joint ventures more. The psychic distance and foreign entry mode are negative correlation which tells us that the multinational corporation tends to choose wholly ownership if the psychic dis- tance is big.