外商直接投资在中国区域一级的决定因素分析【外文翻译】.doc

原文
Determinants of foreign direct investment at the regional level in China
As the worlds most populated country, China has attracted a great deal of attention from a wide panies seeking to leverage the low relative cost of employing a Chinese work force, or to gain access to the growing Chinese middle and upper classes. From the investor's point of view, picking the right location that provides petitive advantage is critical to developing a sustainable business model. The location he or she would choose as the destination of FDI must ultimately be more profitable to invest in than in others (Coughlin et al., 1991). Choosing the right location often involves many different factors.
Hymer (1960) found that American FDI was mainly concentrated in a few industries and monopolized by panies. panies (MNC's) were the product of imperfect markets and monopoly advantages where panies had the advantage with regards to choosing where to invest. A number of conclusions can be drawn from Hymer's analysis that helps frame up this study:
First, FDI tends to flow into differentiated markets where a MNC believes they will have an petitively.
Second, companies that are able to make investments overseas all have certain advantages, such as economies of scale, differentiated products, special skills, and low-cost production. panies will make investments in regions that do not have these advantages.
Third, there are many ways in which MNCs can invest overseas in such as exporting, and licensing, in addition to direct investment. MNCs without local partners always prefer to choose foreign direct investment.
Last but not the least Hymer found that about half of the overseas operating capital of American firms came from host countries; thus FDI tends to flow into the countries or regions that have developed financial systems and capital markets.
The case for China as a host for FDI has increased substantially since Hymer first published his thoughts in 1960. China as a source of l