Foreign Investment Strategies and Sub-national Institutions in Emerging Markets: Evidence from Vietnam*
Foreign Investment Strategies and Sub-national Institutions in Emerging Markets: Evidence from Vietnam*
复制标题
DOI：
10.1111/j.1467-6486.2005.00489.x
复制
发表时间：
2005-01
影响因子：
10.5
通讯作者：
K. Meyer;H. V. Nguyen
中科院分区：
文献类型：
--
作者：
K. Meyer;H. V. Nguyen
进入新兴市场的外国投资者必须就在哪里以及如何开展业务做出战略决定。这些决定必须考虑到体制条件，这些条件不仅在国家之间不同，而且在东道国经济内部也是不同的。我们提供了一个理论框架来分析新兴经济体的制度如何影响进入战略决策。在此基础上，我们分析了进入战略的两个关键方面的决定因素：在越南的区位和进入模式。我们发现，国家以下制度变量对这两个维度都有显著影响。稀缺资源的可获得性影响外国直接投资的地点和新进入的可能性。来自现有国有企业的制度压力和投资者的国内市场导向导致了对合资企业进入的偏好。版权所有布莱克韦尔出版有限公司2005年。
Foreign investors entering emerging markets have to take strategic decisions on where and how to set up operations. These decisions have to accommodate institutional conditions that vary not only between countries, but also within the host economy. We offer a theoretical framework to analyse how institutions in an emerging economy influence entry strategy decisions. On this basis, we analyse the determinants of two key aspects of entry strategy: location and entry mode in Vietnam. We find that sub-national institutional variables have a significant influence on both dimensions. The availability of scarce resources affects the location of FDI and the likelihood of Greenfield entry. Institutional pressures arising from incumbent state-owned firms and the domestic market orientation of the investor lead to a preference for joint venture entry. Copyright Blackwell Publishing Ltd 2005.