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해외투자대상국 내 집적효과와 해외자회사의 생존

Agglomeration Effects in Host Country and The Survival of Foreign Subsidiaries

한병섭|서민교
한국산업경영학회 (Korean Association Of Industrial Business Administrarion)|2007.05|경영연구 (Journal of Business Research)|제22권 제2호|pp. 119-148

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참고문헌

주제분류경영학

초록

본 연구에서는 중국시장에 투자한 한국기업들을 대상으로 집적경제 측면에서 해외투자 자회사 생존에 대해 살펴보고 있다. 종속변수인 자회사 생존에 대한 설명변수들의 영향력을 분석하기 위해 사건사 분석기법 중의 하나인 불연속시간로짓모델을 이용하였다. 연구 결과, 중국에 투자한 한국기업 자회사의 생존에 영향을 미치는 집적의 효과가 집적단위별로 각기 다르게 나타남을 알 수 있었다. 즉 산업집적 효과는 한국기업 자회사의 생존에 부정적인 영향을 미치는 것으로 나타났다. 기존 연구 결과와 달리, 산업집적이 지식과 경험의 외부확산 요인으로 작용한다기보다는 생존에 부정적 영향을 미치는 경쟁요인으로 작용함을 알 수 있었다. 중국의 개혁개방 정책 이후, 이미 많은 외국인투자기업들이 중국에 진출해 있고, 이들 외국기업들이 현지기업화 하여 제한된 시장과 자원을 두고 기업 간에 치열한 경쟁이 벌어지고 있는 현실을 고려하면, 본 연구결과는 이러한 현상을 제대로 반영한 결과라 할 수 있을 것이다. 반면, 한국기업들에 의한 국가집적은 한국기업 자회사 생존에 긍정적인 영향을 미치는 것으로 나타났다. 한국기업집적 수준이 높은 지역에 위치함으로써 한국기업 간 근접성에 기초한 네트워크 관계를 통해 기술 및 시장 동향, 환경변화를 보다 신속하게 감지할 수 있을 뿐만 아니라 투입 요소, 서비스 및 기타 경영활동관련 요소들에 대한 용이한 접근의 혜택을 누릴 수 있다. 그리고 이러한 집적효과가 궁극적으로 한국기업 집적도가 높은 지역에 투자한 한국기업 자회사의 생존율을 높이는 요인으로 작용하게 된다고 볼 수 있다.한글 색인어 : 집적효과, 해외직접투자, 자회사, 생존, 중국

Abstract

This research considers agglomeration effects in examining the rate of survival of overseas investment subsidiaries in China. In order to analyze the influence of the independent variables on the dependent variable of whether or not a business is survive, a binary logistics model(discrete time logit model) with time varying covariates is used. This study highlights the fact investing firms derive levels of network externalities that varying according to nationality and industry affiliations. It was found that the agglomeration level of industry was negatively related to the survival rate of Korean subsidiaries. The presence of many local and foreign competitiors in the industry may be a deterrent factors to the survival of korean firms due to the expected rivalry and fierce competition for scarce resources. But, the agglomeration level of Korean firms was positively related to the survival rate of Korean subsidiaries. This is because, the number of Korean firms in the same region is increasing, the probability of survival for firms in that region is rising. A large number of korean firms could positively influence the survival of korean subsidiaries due to knowledge spillovers and a large pool of skilled labour in the region. So we conclude that network externalities were stronger among firms of the same nationalities.

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