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Internationalization of Developing Country Firms into Developed Countries: The Role of Host Country Knowledge-Based Assets and IPR Protection in FDI Location Choice

机译:发展中国家发展中国家的国际化:东道国知识的资产和知识产权保护在外国直接投资地点选择的作用

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摘要

Foreign direct investment (FDI) from developing to developed countries is a widespread phenomenon in the global economy. The literature suggests that such investments frequently follow a motive to seek knowledge-based assets, with the goal of augmenting the firm's resource base through internationalization. We argue that the prevalence of this motive may direct developing country firms' FDI toward developed countries with relatively stronger knowledge-based assets and weaker intellectual property rights (IPR) protection and that this effect is amplified when both conditions coincide. Furthermore, we suggest that the respective importance of knowledge-based assets and IPR protection diminishes as developing countries augment their own knowledge-based assets and that the importance of asset seeking as an internationalization motive for the country's firms declines compared with other motives such as institutional escapism. We investigate our model with FDI data including investment flows from 85 developing countries to 35 developed countries during 2009-2014. We find that developing country firms prefer investing in developed countries with stronger knowledge-based assets and weaker IPR protection. These criteria attract even more FDI when both co-occur. Furthermore, the influence of weaker host country IPR protection on the location decision diminishes for firms originating from home countries with higher stocks of knowledge-based assets.
机译:向发达国家发展的外国直接投资(FDI)是全球经济中的广泛现象。这些文献表明,这些投资经常遵循动机,以寻求基于知识的资产,目标是通过国际化增加公司的资源基础。我们认为这一动机的普遍性可能会将乡村企业的外国公司直接发展到发达国家,以较强的知识型资产和较弱的知识产权(知识产权)保护,并且在这两个条件重合时,这种效果被扩增。此外,我们认为基于知识的资产和知识产权保护的相应重要性随着发展中国家增强了自己的知识型资产,并且资产寻求作为该国公司的国际化动机的重要性与机构等其他动机相比下降了逃避。我们调查了我们的模型,在2009 - 2014年期间,通过从85名发展中国家到35个发达国家的投资流量,包括投资流量。我们发现发展中国家公司更倾向于投资发达国家,以强大的知识资产和知识产权保护较弱。这些标准在共同发生时都会吸引更多的外国直接投资。此外,较弱的东道国IPR保护对源自众所周期以来的知识资产股票股票股票股票的企业的影响会减少。

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