Japanese multinationals in European transition economies: Motivation, Location and Structural Patterns [Elektronische Ressource] / von Norifumi Kawai

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Informations

• Publié par: universitat_duisburg-essen
• Publié le: 01 janvier 2010
• Nombre de lectures: 27
• Langue: English
• Poids de l'ouvrage: 4 Mo

Extrait

Japanese Multinationals in European
Transition Economies: Motivation,
Location and Structural Patterns
Von der Mercator School of Management
- Fakultät für Betriebswirtschaftslehre - der Universität Duisburg-Essen
zur Erlangung des akademischen Grades
eines Doktors der Wirtschaftswissenschaft (Dr. rer. oec)
genehmigte Dissertation
von
Norifumi Kawai
aus Gifu, JapanReferent: Prof. Dr. Werner Pascha
Korreferent: Prof. Dr. Markus Taube
Tag der mündlichen Prüfung: 28. April 2010CONTENTS
List of Figures and Tables ............................................................................................ vi
List of Abbreviations...................................... x
1 INTRODUCTION.. 1
1.1 Research Questions ............................................................................................ 2
1.2 Methodology....................................... 3
1.3 Organisation of the Dissertation......................................... 4
2 THEORETICAL DISCUSSION OF MNE ACTIVITY..... 9
2.1 Introduction ........................................................................ 9
2.2 Approaches Related to MNE-Based Theories.................. 10
2.2.1 Product Life Cycle Theory ........................................ 10
2.2.2 Industrial Organisation Economics........................... 12
2.2.3 Transaction Cost Economics..................................... 13
2.2.4 Internalisation Theory................................................ 14
2.2.5 Classic OLI Configuration in Hierarchical Capitalism ............................. 16
2.3 Strategic Approach........................................................... 17
2.3.1 The Resource-Based View of the Firm..................... 17
2.4 Spatial Analysis of MNE Activity.................................... 19
2.4.1 Marshall’s (1920) Localisation.................................. 19
2.4.2 Krugman’s (1991) Industrial Agglomeration Theory ............................... 19
2.4.3 Porter’s (1990) Competitive Advantage of Nations.................................. 20
2.4.4 Porter’s (1990) Industrial Cluster.............................................................. 23
2.4.5 Storper’s (1997) Relational Assets............................ 24
2.5 Institution-Based Theoretical Approach to MNE Activity............................... 25
2.5.1 Institutional Theory ................................................................................... 25
2.5.2 Institution-Based OLI Configuration in Stakeholder Capitalism.............. 26
2.6 Network-Based Theoretical Approach to MNE Activity................................. 29
2.6.1 Network Theory......................................................................................... 29
2.6.2 Network-Based OLI Configuration in Alliance Capitalism...................... 31
2.6.3 Theory of Japanese Business Groups........................ 32
2.7 Four Types of FDI ............................................................................................ 36
2.7.1 Resource-Seeking FDI............... 36
2.7.2 Market-Seeking FDI.................. 36
2.7.3 Efficiency-Seeking FDI............................................................................. 37
2.7.4 Strategic Asset-Seeking FDI..... 37
2.8 Selection of International Entry Mode ............................................................. 38
2.8.1 Exporting ................................................................... 38
2.8.2 Licensing... 38
i2.8.3 Joint Ventures (JVs) .................................................................................. 39
2.8.4 Merger & Acquisition (M&A) .................................................................. 39
2.8.5 Wholly Owned Subsidiaries (WOSs)........................ 41
2.9 Conclusions ...................................... 42
3 FOREIGN DIRECT INVESTMENT IN EUROPEAN TRANSITION
ECONOMIES............................................................................... 45
3.1 Introduction ...................................... 45
3.1 Varieties of Market Characteristics .................................................................. 46
3.2 The Regional Orientation of CEECs’ Foreign Trade....... 50
3.3 Definition of FDI.............................................................. 52
3.3.1 The Evaluation of the Method of Data Collection .................................... 53
3.1 Foreign Direct Investment in CEECs............................................................... 53
3.1.1 Cumulative FDI ......................................................... 53
3.1.2 Size-Adjusted FDI Inflows........................................ 58
3.1.3 Countries of Origin.................... 60
3.2 The Industrial Distribution of Foreign Direct Investments .............................. 66
3.3 Conclusions ...................................................................................................... 67
4 JAPANESE FOREIGN DIRECT INVESTMENT IN EUROPEAN
TRANSITION ECONOMIES..................................................................................... 69
4.1 Introduction ...................................... 69
4.2 Japan’s Trade Relations with CEECs............................... 70
4.3 Nature of Japanese Foreign Direct Investment in CEECs................................ 71
4.3.1 The Location of Japanese Investment ....................................................... 71
4.4 Japanese Manufacturing Investment by Region and Industry.......................... 73
4.5 Japanese Foreign Direct Investment in the Eastern EU Periphery and the
Southern EU Periphery............................................................................................... 76
4.6 The Impact of the Eastward European Integration Process on Japanese Foreign
Direct Investment....................................... 78
4.7 Cross-Country Difference in Sectors of Investment......... 82
4.8 Obstacles to Japanese Foreign Direct Investment in CEE during the 1990s ... 87
4.9 Market Entry Strategies.................................................................................... 90
4.10 Preliminary Findings of Japanese FDI Motivations......... 91
4.11 Location Decisions........................... 95
4.12 Information Networks of Japanese Investors in CEECs .................................. 97
4.13 Operational Problems Faced by Japanese Investors in CEECs........................ 99
4.14 Conclusions .................................................................... 101
5 COMPARISON OF EUROPEAN TRANSITION ECONOMIES’
INSTITUTIONAL CONDITIONS........................................... 104
5.1 Introduction .................................................................... 104
5.2 Analytical Framework .................................................... 106
ii5.2.1 Institutional Change and FDI in CEECs.................................................. 106
5.3 Progress in Transition..................................................... 111
5.3.1 Varieties of Institutional and Structural Development............................ 112
5.3.2 Structural Constraints by Country........................................................... 112
5.3.3 Institutionalisation of FDI Practices........................ 121
5.3.4 Regional Institutional Arrangements....................... 129
5.3.5 Institutional Continuity: Ideological Inheritance of State Socialism....... 132
5.4 Available Empirical Evidence on the Role of Institutions for FDI in Transition
Economies and Hypothesis Formation..................................................................... 134
5.5 Methodology................................... 138
5.5.1 Sample and Data Sources........ 138
5.5.2 Description of Variables.......................................................................... 138
5.5.3 Model Procedure..................... 139
5.6 Empirical Findings ......................................................................................... 143
5.7 Conclusions.................................... 148
6 WHAT DETERMINES THE LOCATION CHOICE BY JAPANESE MNEs
IN EUROPEAN TRANSITION ECONOMIES AT THE SUB-NATIONAL
REGIONAL LEVEL?................................................................................................ 151
6.1 Introduction.... 151
6.2 Agglomeration Economies in Economic and Institutional Considerations.... 154
6.2.1 Economic Considerations........................................................................ 155
6.2.2 Institutional Considerations..... 157
6.3 Review of the Literature and Hypotheses Formation..... 157
6.3.1 Classic Economic-Forces ........................................................................ 157
6.3.2 Institutional Change................. 159
6.3.3 Firm-Specific Advantages....... 162
6.3.4 Network-Specific Factors........................................................................ 163
6.3.5 Agglomeration-Specific Forces............................... 166
6.4 Methodology................................... 169
6.4.1 Sample Data............................................................. 170
6.4.2 Model Specification................................................. 174
6.5 Operationalisation of Independent Variables ................................ 176
6.5.1 Descriptive Statistics of Explanatory Variables...... 177
6.6 Empirical Results............................................................ 181
6.6.1 Robustness Check.............