在此論文當中，我嘗試從兩個不同的面向去分析某些重要的因素是否會對獨資（WOSs）和合資（JVs）的海外子公司的生存機率有不同的影響（正負向不同），或是在有同樣正負向的影響下，該因素對合資（或獨資）子公司生存性的影響是否大於獨資（或合資）子公司。第一個面向是「多國籍跨國企業的特性和策略」，在這個面向下要探討的因素包括母公司的研究資產（R&D assets）、行銷資產（marketing assets）和之前所累積的國際經驗（international experience）對合資和獨資子公司生存機率的影響。第二個面向則是嘗試要從「地主國的環境因素」去探討文化距離（cultural distance）和政府的限制（government restriction）對海外子公司生存性的影響是否因為母公司使用合資或獨資的進入模式（entry mode）去進入地主國而有所不同。
 本研究使用Cox迴歸模型去分析和測試所建立的假設。總樣本數為由294家母公司所成立的371家海外子公司，其中264家為合資所建立的子公司，107家為獨資所建立的海外子公司。先前的研究（例如Papyrina, 2007; Leung, 1997）多半沒有將海外投資（FDI）區分為合資或獨資的子公司來探討，或是只將合資和獨資子公司當作自變數或虛擬變數來使用，所以並沒有深入去探討影響合資和獨資子公司生存機率的因素及其所造成的不同影響，此為本研究的動機和貢獻。
實證研究顯示合資與獨資公司的生存機率的確不同，把合資和獨資子公司同樣視為一樣的海外投資（FDI）來做研究是不太精準的研究方法。在本論文當中，探討母公司的行銷資產銈~子公司生存機率的影響時確有不同的結果，實證結果證實母公司所擁有的行銷資產對海外獨資子公司的生存機率有顯著且正面的影響，對海外合資公司的影響卻不顯著。同時也證明了母公司之前所積累的國際經驗對海外合資子公司的生存機率是有顯著且正面影響的，對海外獨資子公司卻無顯著影響。有關文化距離對合資和獨資子公司有何不同影響的假設，實證研究完全支持我的設想，母公司的所在國家和其所投資的海外國家之間的文化距離越遠，獨資公司的生存機率越低，合資公司的生存機率則越高。然而在本研究中，自變數中的母公司的研究資產和政府限制結果並不顯著，有待之後未來研究的探討。

This study examines the effects of multinational corporations’ characteristics (including R&D assets, marketing assets, and international experience) and host environments (such as cultural distance and government restrictions) on the survival likelihood of joint ventures (JVs) and wholly-owned subsidiaries (WOSs). In all, this study contributes to the literature by analyzing the survival difference of these two ownership structures which has been paid relatively scant attention in the past, despite the importance of this subject.
A set of hypotheses was tested on a sample comprising 264 joint ventures and 107 wholly-owned subsidiaries held by 294 parent companies using Cox regression. Empirical results generally support my conjectures that parents’ own characteristics and host environmental conditions impose different effects on the survival likelihood of joint ventures and wholly-owned subsidiaries.
Specifically, I found a parent company’s international experience is positively related with the survival likelihood of a joint venture, but not the survival likelihood of a wholly-owned subsidiary. Differently, a parent company’s marketing assets is positively related with the survival likelihood of a wholly-owned subsidiary, but not the survival likelihood of a joint venture. In terms of cultural distance, my hypothesis predicting that cultural distance has a negative effect on the subsidiary's survival in the case of a wholly-owned subsidiary but a positive effect on the survival likelihood of a joint venture is fully supported.

Agarwal, Sanjeev & Sridhar N. Ramaswami. 1992. Choice of Foreign Market Entry Mode: Impact of Ownership, Location and Internalization Factors. Journal of International Business Studies, 23(1): 1-27.
Alvarez, Montserrat. 2003. Wholly-Owned Subsidiaries Versus Joint Ventures: The Determinant Factors in the Catalan Multinational Manufacturing Case, Case Study, Department of Econometrics, Statistics and Spanish Economy, University of Barcelona
Andras, Trina Larsen & Srini S. Srinivasan. 2003. Advertising Intensity and R&D Intensity: Differences across Industries and Their Impact on Firm’s Performance. International Journal of Business and Economics, 2(2): 81-90.
Barkema, Harry G. & John H. J. Bell. 1996. Foreign Entry, Cultural Barriers, and Learning. Strategic Management Journal, 17(2): 151-66.
Barkema, Harry G., Oded Shenkar, Freek Vermeulen, & John H. J. Bell. 1997. Working Abroad, Working with Others: How Firms Learn to Operate International Joint Ventures. The Academy of Management Journal, 40(2): 426-42
Beamish, Paul W. & John C. Banks. 1987. Equity Joint Ventures and the Theory of the Multinational Enterprise. Journal of International Business Studies, 18(2): 1-16.
Blomstrom, Magnus & Ari Kokko. 2003. The Economics of Foreign Direct Investment Incentives. Working Paper 168, Stockholm School of Economics, Sweden
Bradley, David G. (1977), “Managing Against Expropriation,” Harvard Business Review, 55(4), 75–83.
Brouthers, Keith D. 2002. Institutional, Cultural and Transaction Cost Influences on Entry Mode Choice and Performance. Journal of International Business Studies, 33(2): 203-21.
Brouthers, Keith D. & Lance Eliot Brouthers. 2000. Acquisition or Greenfield Start-up? Institutional, Cultural and Transaction Cost Influences. Strategic Management Journal, 21(1): 89-97.
Brouthers, Keith D., Lance Eliot Brouthers, & Steve Werner. 2003. Transaction Cost-enhanced Entry Mode Choices and Firm Performance. Strategic Management Journal, 24 (12): 1239-48.
Brouthers, Lance Eliot, Keith D. Brouthers, & Steve Werner. 1999. Is Dunning's Eclectic Framework Descriptive or Normative? Journal of International Business Studies, 30(4): 831-44.
Caves, R. E. 1996. Multinational enterprise and economic analysis (2nd Ed.). Cambridge, MA: Cambridge University Press.
Chang, Sea Jin. 1995. International Expansion Strategy of Japanese Firms: Capability Building through Sequential Entry. The Academy of Management Journal, 38(2): 383-407.
Chatterjee, Sayan & Birger Wernerfelt. 1991. The Link Between Resources and Type of Diversification: Theory and Evidence. Strategic Management Journal, 12 (1): 33-48.
Chen, Shih-Fen S. & Jean-Francois Hennart. 2002. Japanese Investors' Choice of Joint Ventures Versus Wholly-owned Subsidiaries in the US: The Role of Market Barriers and Firm Capabilities. Journal of International Business Studies, 33(1): 1-18.
Cox, D. R. 1972. Regression Models and Life-Tables. Journal of the Royal Statistical Society, 34(2): 187-220.
Cuervo-Cazurra, Alvaro, Mary M. Maloney, & Shalini Manrakhan. 2007. Causes of Difficulties in Internationalization. Journal of International Business Studies, 38(5): 709-25.
Delios, Andrew & Paul W. Beamish. 1999. Geographic Scope, Product Diversification, and the Corporate Performance of Japanese Firms. Strategic Management Journal, 20(8): 711-27.
Delios, Andrew & Paul W. Beamish. 1999. Ownership Strategy of Japanese Firms: Transactional, Institutional, and Experience Influences. Strategic Management Journal, 20(10): 915-33.
Delios, Andrew & Paul W. Beamish. 2001. Survival and Profitability: The Roles of Experience and Intangible Assets in Foreign Subsidiary Performance. Academy of Management Journal, 44(5): 1028-38.
Delios, Andrew & Witold J. Henisz. 2000. Japanese Firms' Investment Strategies in Emerging Economies. The Academy of Management Journal, 43(3): 305-23.
Delios, Andrew & Paul W. Beamish. 2004. Joint Venture Performance Revisited: Japanese Foreign Subsidiaries Worldwide. Management International Review, 44 (1): 69-91.
Desai, Mihir A., C. Fritz Foley, & James R. Hines Jr. 2004. The Costs of Shared Ownership: Evidence from International Joint Ventures. Journal of Financial Economics, 73(2): 323-74.
Dhanaraj, Charles & Paul W. Beamish. 2004. Effect of Equity Ownership on the Survival of International Joint Ventures. Strategic Management Journal, 25(3): 295-305.
Doukas, John A. & LHP Lang. 2003. Foreign Direct Investment, Diversification and Firm Performance. Journal of International Business Studies, 34(2): 153-72.
Dunning, J. H. (1993). Multinational Enterprise and the Global Economy. Addison-Wesley, Harlow, U.K.
Garg, Miti & Andrew Delios. 2007. Survival of the Foreign Subsidiaries of TMNCs: The Influence of Business Group Affiliation. Journal of International Management, 13(3): 278-95.
Geringer, J. Michael & Louis Hebert. 1991. Measuring Performance of International Joint Ventures. Journal of International Business Studies, 22(2): 249-63.
Guillen, Mauro F. 2003. Experience, Imitation, and the Sequence of Foreign Entry: Wholly Owned and Joint-venture Manufacturing by South Korean Firms and Business Groups in China, 1987-1995. Journal of International Business Studies, 34(2): 185-98.
Harzing, A. W. and G. Hofstede (1996). "Planned change in organizations: The influence of national culture". In P. A. Bamberger, M. Erez and S.B. Bacharach (eds.), Research in the Sociology of Organizations. JAI Press, Greenwich, CT, pp. 297-340.
Hennart, Jean-Francois & Jorma Larimo. 1998. The Impact of Culture on the Strategy of Multinational Enterprises: Does National Origin Affect Ownership Decisions? Journal of International Business Studies, 29(3): 515-38.
Hennart, Jean-Francois & Sabine Reddy. 1997. The Choice Between Mergers/Acquisitions and Joint Ventures: The Case of Japanese Investors in The United States. Strategic Management Journal, 18(1): 1-12.
Hofstede, G. (1980). Culture's Consequences. Sage, Beverly Hills, CA.
Hong, Sunghoon. 2004. The Intangible Assets of Korean Manufacturing Firms for Foreign Direct Investment. Journal of International Economic Studies, 8(2): 101-19.
Johanson, Jan & Jan-Erik Vahlne. 1977. The Internationalization Process of the Firm-A Model of Knowledge Development and Increasing Foreign Market Commitments. Journal of International Business Studies, 8(1): 23-32.
Kaiser, Ulrich & Wolfgang Sofka. 2006. The Pulse of Liability of Foreignness: Dynamic Legitimacy and Experience Effects in the German Car Market. Discussion Paper No. 06-070, Centre for European Economic Research (ZEW).
Kogut, Bruce & Udo Zander. 1993. Knowledge of the Firm and the Evolutionary Theory of the Multinational Corporation. Journal of International Business Studies, 24(4): 625-45.
Kogut, Bruce & Harbir Singh. 1988. The Effect of National Culture on the Choice of Entry Mode. Journal of International Business Studies, 19(3): 411-32.
Kotabe, Masaaki. 1990. The Relationship between Offshore Sourcing and Innovativeness of U.S. Multinational Firms: An Empirical Investigation. Journal of International Business Studies, 21(4): 623-638.
Leung, Wing-Fai. 1997. The Duration of International Joint Ventures and Foreign Wholly-owned Subsidiaries. Applied Economics, 29: 1255-69.
Li, Jiatao. 1994. Experience Effects and International Expansion: Strategies of Service MNCs in the Asia Pacific Region. Management International Review, 34(2): 217-34
Li, Jiatao. 1995. Foreign Entry and Survival: Effects of Strategic Choices on Performance in International Markets. Strategic Management Journal, 16(5): 333-51.
Lord, Michael D. & Annette L. Ranft. 2000. Organizational Learning about New International Markets: Exploring the Internal Transfer of Local Market Knowledge. Journal of International Business Studies, 31(4): 573-89.
Lu, Jane W. & Paul W. Beamish. 2001. The Internationalization and Performance of SMEs. Strategic Management Journal, 22(6/7): 565-86.
Luo, Yadong, Oded Shenkar & Mee-Kau Nyaw. 2001. A Dual Parent Perspective on Control and Performance in International Joint Ventures: Lessons from a Developing Economy. Journal of International Business Studies, 32(1): 41-58
Makino, Shige & Paul W. Beamish. 1998. Local Ownership Restrictions, Entry Mode Choice, and FDI Performance: Japanese Overseas Subsidiaries in Asia. Asia Pacific Journal of Management, 15(2): 119-36.
Makino, Shige & Andrew Delios. 1996. Local Knowledge Transfer and Performance: Implications for Alliance Formation in Asia. Journal of International Business Studies, 27(5): 905-27.
Makino, Shige & Kent E. Neupert. 2000. National Culture, Transaction Costs, and the Choice Between Joint Venture and Wholly Owned Subsidiary. Journal of International Business Studies, 31(4): 705-13.
McCloughan, Patrick & Ian Stone. 1998. Life Duration of Foreign Multinational Subsidiaries: Evidence from UK Northern Manufacturing Industry 1970-93. International Journal of Industrial Organization, 16(6): 719-47.
Mitchell, Will, J. Myles Shaver, & Bernard Yeung. 1994. Foreign Entrant Survival and Foreign Market Share: Canadian Companies' Experience in United States Medical Sector Markets. Strategic Management Journal, 15(7): 555-67.
Mishra, Chandra S. & David H. Gobeli. 1998. Managerial Incentives, Internalization, and Market Valuation of Multinational Firms. Journal of International Business Studies, 29(3): 583-97.
Morck, Randall & Bernard Yeung. 1991. Why Investors Value Multinationality. The Journal of Business, 64(2): 165-87.
Osland, Gregory E. & S. Tamer Cavusgil. 1996. Performance Issues in U.S.-China Joint Ventures. California Management Review, 38(2): 106-30.
Ozorhon, Beliz, David Arditi, Irem Dikmen & M. Talat Birgonul. 2008. Implications of Culture in the Performance of International Construction Joint Ventures. Journal of Construction Engineering and Management, 134(5): 361-370
Pan, Yigang & Peter S. K. Chi. 1999. Financial Performance and Survival of Multinational Corporations in China. Strategic Management Journal, 20(4): 359-74.
Papyrina, Veronika. 2007. When, How, and with What Success? The Joint Effect of Entry Timing and Entry Mode on Survival of Japanese Subsidiaries in China. Journal of International Marketing, 15(3): 73-95.
Park, Seung Ho & Gerardo R. Ungson. 1997. The Effect of National Culture, Organizational Complementarity, and Economic Motivation on Joint Venture Dissolution. Academy of Management Journal, 40(2): 279-307
Petersen, Bent & Torben Pedersen. 2002. Coping with Liability of Foreignness: Different Learning Engagements of Entrant Firms. Journal of International Management, 8(3): 339-50.
Robinson, William T., Claes Fornell, & Mary Sullivan. 1992. Are Market Pioneers Intrinsically Stronger Than Later Entrants? Strategic Management Journal, 13(8): 609-24.
Shaver, J. Myles, Will Mitchell, & Bernard Yeung. 1997. The Effect of Own-firm and Other-firm Experience on Foreign Direct Investment Survival in the United States, 1987-92. Strategic Management Journal, 18(10): 811-24.
Smarzynska, Beata K.. 2000. Technological Leadership and the Choice of Entry Mode by Foreign Investors. The World Bank: Washington, DC
UNCTAD (2007), World Investment Report 2007: Transnational Corporations, Extractive Industries and Development, New York and Geneva: United Nations.
Williamson, Oliver E. 1991. Comparative Economic Organization: The Analysis of Discrete Structural Alternatives. Administrative Science Quarterly, 36(2): 269-96.
Yiu, Daphne & Shige Makino. 2002. The Choice Between Joint Venture and Wholly Owned Subsidiary: An Institutional Perspective. Organization Science, 13(6): 667-83.
Zaheer, Srilata. 1995. Overcoming the Liability of Foreignness. The Academy of Management Journal, 38(2): 341-63.
Zhao, Hongxin, Yadong Luo, & Taewon Suh. 2004. Transaction Cost Determinants and Ownership-based Entry Mode Choice: a Meta-analytical Review. Journal of International Business Studies, 35(6): 524-44.