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研究生: 潘彥年
Pan, Yen-nien
論文名稱: 國際合資的成敗─國家環境因素的調節效果
Why do International Joint Ventures Fail? The Moderating Effects from Country-level Environment
指導教授: 曾瓊慧
Tseng, Chiung-hui
學位類別: 碩士
Master
系所名稱: 管理學院 - 國際企業研究所
Institute of International Business
論文出版年: 2009
畢業學年度: 97
語文別: 英文
論文頁數: 54
中文關鍵詞: 股權分配國際合資國家環境文化距離
外文關鍵詞: international joint venture, environment, cultural distance, ownership
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  • 本研究主要研究國際合資中聯盟層級的變數(股權分配、文化距離)以及地主國環境層級的變數(國家管理層面、文化規範層面)對聯盟存活長度的影響,並進一步探討地主國環境層級變數對聯盟層級變數與聯盟存活長度間關係的調節效果。

    本研究對115 個國際合資聯盟進行實證分析,聯盟均由二個合資夥伴所組成,一方為美國公司,另一方則為其他國家。實證研究結果發現,當合資夥伴間股權分配不平均及文化距離較小時,國際合資存活時間較長。同時,若合資時面對的地主國環境國家管理層面較嚴苛時,股權分配不平均及文化距離小的國際合資聯盟,存活時間會更長。

    此研究主要的貢獻指出,地主國環境的國家管理層面相較文化規範層面對聯盟存活長度有較強的影響,因此,若要在國際投資中成功,跨國公司應優先考量地主國環境中的各種國家管理層面限制。

    The purpose of this thesis is to understand how venture-level variables (ownership structure and cultural distance) and country-level variables (regulatory environment and normative environment) affect the international joint venture (IJV) survival duration, and how the country-level variables moderate the relationships between venture-level variables and IJV survival duration.

    I developed a set of hypotheses, tested on a sample of 115 IJVs formed between U.S. firms and firms home-based in other countries. Empirical results find that non-equal ownership structures have a positive impact on IJV survival duration while cultural distance between partners has a negative impact. Meanwhile, under a restrictive regulatory environment, IJVs with unequal ownership structure and smaller cultural distance between partners are more likely to have longer survival duration.

    My study also contributes to the literature that regulative forces has a stronger influence on IJV survival compared to the normative forces. Therefore, to succeed in international operation, MNEs should take regulative forces as the prior consideration.

    Chapter 1 Introduction.....................................1 1.1 Research Background and Motives........................1 1.2 Research Process.......................................5 Chapter 2 Literature Review................................6 2.1 IJV Success and Survival Duration......................6 2.2 Determinants on IJV Survival...........................7 2.2.1 The Influence of Equity Ownership on IJV Survival...11 2.2.2 The Influence of Cultural Distance on IJV Survival..15 Chapter 3 Hypotheses Development..........................19 3.1 Equity Ownership and IJV Survival Duration............20 3.2 Cultural Distance and IJV Survival Duration...........23 3.3 Host Country Environment and IJV Survival Duration....26 Chapter 4 Research Methods................................29 4.1 Sample and Data Sources...............................29 4.2 Variables and Measures................................32 4.2.1 The Dependent Variable..............................32 4.2.2 Independent Variables...............................32 4.2.3 The Control Variable................................34 Chapter 5 Results and Discussions.........................37 5.1 Regression Analyses...................................37 5.2 Result Discussion.....................................43 5.3 Theoretical and Managerial Implications...............45 5.3.1 Theoretical Implications............................45 5.3.2 Managerial Implications.............................46 5.4 Research Limitations and Suggestions for Future Research..........................................................47 Reference.................................................49

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