第二篇跨国经营理论

PartTwoInternationalBusinessTheoriesandPracticesByFanliboSeptember,2003FDI„„„„112currencyarea32„TechnologicalAdvantage„ConsumerRecognitionAdvantage„MarketAdvantage„InputAdvantage.„Governance„(Opportunism)„(Transaction-specificInvestment)——„„„„„OILOILParadigmSSAs1233IndustrialOrganizationTheories„3.1FDIandFPI„3.2Transactionalcostsapproach(themarketimperfectionapproach)„3.3Theinternalizationapproach„3.4Theproductcycleapproach„3.5Theeclectictheoryofinternationalproduction„3.6LimitsofInternationalBusinessTheories3.1FDIandFPIFDIdescribesituationsinwhichtheinvestorgainsaconsiderableamountofcontrolofthecompanyenterpriseinwhichtheinvestmentwasmade.Italsocanbeclassifiedintotwocategories:Greenfieldinvestmentandcross-borderM^As.FPIisthepurchaseofstock,etc.withlittleornocontrolofthecompanybeingacquired.3.2Specific-OwnershipAdvantages„Firm-specificorownership-specificfactorscanonlybetransferablewithintheenterpriseandcrossdistances.Thesefactor.OwnershipAdvantagesInthemoderntheoryofMNC,afirmisanorganizationthatpossessessomefirm-specificadvantages.Theseadvantagesareusedbythefirmincompetingwithotherfirms,andtheydictatewhatactionsthefirmcanandwilltake.Thusthestartingpointofthepresentanalysisistoexaminewhattypesofadvantagesthefirmmayhave.Ownershipadvantagesrelevanttothisanalysismaybegroupedintofourtypes:technologicaladvantage,consumerrecognitionadvantage,marketadvantage,andinputadvantage.TechnologicalAdvantageThisadvantageisthetypeofinformationafirmownsprivatelyandusesdirectlyinitsproductionprocess,thusthename“technological”.Itiscommonlycalledtechnology,productiontechnique,know-how,andknowledge.Threedifferenttypesoftechnologicaladvantagecanbedistinguished.Firstistheinformationtocreate,develop,andproducenewproducts.Thesecondtypeoftechnologicaladvantageissomethingthatisusedtoimprovetheproductionprocessofexistingproducts.Forexample,itistheadvantagethatwouldenableafirmtoincreasetheproductivityoffactorsandinputs,tolowerthecostofproduction,andtoincreasethequalityofaproduct.Thethirdtypeoftechnologicaladvantageistheorganizationalskillsandmanagementtechniquesusedtomanageworkers,toadministertheorganizationhierarchy,andtocontroltheworkingenvironment.„Technologicaladvantageisintangibleanddurable,anditcanhardlybemeasuredorobserved.Themostimportantfeatureofthisadvantageisthattheyarelikeapublicgoodtothefirm(Johnson,1970).Thismeansthatoncetechnologicaladvantagesareachieved,thefirmcanincreasetheuseofthemwithouthavingtopayanyadditionalcosts(orifadditionalcostsareneeded,theyarenotsignificant.)Thisfeatureoftechnologicaladvantageisparticularlyimportantasthefirmsetsupanewplanteitherinitsowncountryorabroad.Thisimplieseconomiesofscaleinusingthetechnologicaladvantageasthefirmbecomesmultinational.Thepublic-goodnatureoftechnologicaladvantageisimportantwhenthefirmtriestoselloflicensetechnologytootherfirms.ConsumerRecognitionAdvantageThisisanotherfirm-specificadvantagethathelpstiltconsumers’preferencesinthefirm’sfavor.Examplesarethefirm’sgoodwill,brandname,trademark,andconsumers’trustofthepricesandqualityofthefirmsproducts.Afirmthathasthisadvantagecanexpectcertaindegreeofloyaltyfromconsumersandthusrelativelymorestablesaleswhenmarketdemandfluctuates.„Consumerrecognitionadvantagehastwoimportantproperties:Itcanspillovertonewproducts,and,inmanycases,istransferablegeographically.Forexample,afirmdevelopinganewproductthatissimilartoitsexistingprod-uctscanmarkettheproductbyappealingtoconsumerloyaltyandtrustforexistingproducts.Thiscouldhelpthesaleofthenewproduct.„Asafirmgoesmultinationalandinvestsinanewcountry,thegoodwill,brandnameandconsumerloyaltyitearnsinitsownmarketmaybeusefulinthehostcountry.Forexample,thisoccurswhenMcDonald’sPSregisteredopensanewrestaurantinChina.Althoughthedegreeofusefulnessdependsonmanyfactorssuchasthedistanceandculturaldifferencesbetweenthetwocountries,itisverypossiblethatconsumersmayalreadyknowsomethingaboutthequalityofthefirm’sproducts.Whensettingupanewsubsidiaryinthehostcountry,itiseveneasierforafirmtobuildupconsumersrecognitionifthefirmisalreadyexportingitsproductstothecountry.MarketAdvantage„Thisadvantagehastwomajortypes.Thefirstisthefirm’sknowledgeofthemarketsitserves,suchasknowledgeabouttheconsumerpreferences,strategiesandotherinformationaboutitscompetitors,availabilityofinputsuppliers,anddetailsabouttheeconomic,legal,andpoliticalsystems.„Thesecondtypeofmarketadvantageisthefirm’sabilitytodeliveritsout-putfromitsplantstoconsumersinefficientandeffectiveways.Thedegreeofthefirm’smarketadvantagedependsonhowsuccessfullyitlowersitscostsofdistributionthroughdifferentlevelsofwholesaleandretailsales,increasesitsmonopolypowerbydifferentiatingitsproducts,andappealstomorecustomers.Marketadvantageisusuallymarket-specific:Itisassociatedwithparticularmarketsandmaynotbeusedinanothermarket.ThisfeatureoftheadvantageisimportantinthetheoryofMNC.Asafirmsetsupanewplantinanewmarket,itlacksthemarketadvantagesofexistingfirms.Also,ascomparedwithlocalfirms,italsolacksgoodknowledgeofthecultureandpolitical,legal,andeconomicsystems,meaningthatthenewcomerhasamar