The Impact of Market Transaction Cost and Management Cost on FDI Survival: The Case of Korean Overseas Manufacturing Investments
0
조회
0
다운로드
3
인용
0
참고문헌
키워드
초록
본 연구에서는 시장거래비용(Market Transaction Cost) 및 관리비용(Management Cost)이 국내 업체의 해외 자회사의 생존기간에 미치는 영향을 거래비용이론을 기반으로 분석하였다. 시장거래비용의 요인으로는 기업의 지식(Knowledge), 평판(Reputation) 및 회수 불가능한 투자(Irrevocable Investment) 등을 분석하였다. 관리비용에 관련된 요인으로는 소유지분, 다각화 정도, 정치적 위험, 문화적 거리, 진입유형 및 국제 사업 경험 등이 사용되었다.
Abstract
In this study the transaction cost theory is employed in order to analyze the relationship of market transaction and management costs to the length of survival of Korean overseas affiliates. Factors included in market transaction costs are a firm's knowledge, reputation and irrevocable investment. With regards to management costs, factors such as the type of ownership, the level of diversification, political risk, cultural distance, entry mode and international experience are considered. The results of this study demonstrate that the factors derived from transaction cost theory have the effect of shortening the life of Korean overseas affiliates. Investment is more likely to be terminated if FDI is undertaken through joint ventures or acquisitions. Moreover, the termination of investment is also related to the level of diversification of the affiliate from the parent, in other words, the more diversified the affiliate is, the higher the probability of the termination of investment.