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Investment History and Market Orientation Effects in the TFP-FDI Relationship

机译:TFP-FDI关系中的投资历史和市场导向效应

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摘要

Our use of Kolmogorov-Smimov stochastic dominance tests study reveals several novel empirical findings. While our results confirm the standard HMY three-tiered classification to exist for Japanese firms, exporter-MNE 'between-group' TFP heterogeneity is sensitive to the 'within-MNE' investment history heterogeneity (and thus the composition of firms within the dataset). We note that single- and two-affiliate MNEs are statistically more similar to exporting firms than to MNEs with a greater foreign affiliate total. This suggests that the exporter-MNE TFP threshold is not as strict as Helpman et al. (2004) suggests. In fact, our results allow us to partially identify the width of the Girma et al.'s (2005) 'uncertainty region' surrounding this threshold. This result is especially noted because we did not require data on exporter heterogeneity to achieve this result. Additional data on firms in the exporter group, namely on the number of countries to which they export as well as the intensity of their export sales (relative to total sales), should only serve to strengthen our result by generating significant 'within-exporter' heterogeneity. In fact, such data would allow us to then examine the domestic-exporter productivity threshold as well, drawing into question the TFP difference between firms with strong export activities versus those firms new to the MNE ranks.
机译:我们对Kolmogorov-Smimov随机优势度测试的使用揭示了一些新颖的经验发现。虽然我们的结果证实了日本公司存在标准的HMY三层分类,但出口商-跨国公司“集团间” TFP异质性对“跨国公司内”投资历史的异质性(以及数据集中公司的构成)敏感。 。我们注意到,从统计上看,单会员和两会员的跨国公司与出口公司的相似度要高于与外国附属公司总数更大的跨国公司的相似度。这表明,出口商-跨国企业的TFP门槛不如Helpman等人严格。 (2004)建议。实际上,我们的结果使我们能够部分识别Girma等人(2005)围绕此阈值的“不确定性区域”的宽度。尤其要注意此结果,因为我们不需要有关出口商异质性的数据即可获得此结果。有关出口商组中公司的其他数据,即有关其出口到的国家数量以及出口销售强度(相对于总销售)的数据,只能通过产生大量的“出口商内部”来增强我们的结果。异质性。实际上,这些数据也将使我们能够检查国内出口商的生产率门槛,从而质疑那些出口活动活跃的公司与那些跨国企业中的新公司之间的全要素生产率差异。

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  • 来源
    《The World Economy》 |2011年第4期|p.546-567|共22页
  • 作者

    Jeffrey Kukulski; Michael Ryan;

  • 作者单位

    U.S. Census Bureau;

    Western Michigan University, Kalamazoo, Michigan;

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  • 原文格式 PDF
  • 正文语种 eng
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