| Summary: | 碩士 === 國立臺灣大學 === 國際企業學系 === 86 === Since the 1970s, the economic power of developing countries like
Taiwan, Korea, Hong Kong and Singapore has increased rapidly.
Due to such growth, developing countries have begun investing in
foreign countries in which developed countries had already invested.
Although the developing countries companies, in general, are behind
those of the developed nation''s in terms of technology, management
skill and capital strength, they continued to increase their FDI and
make profits in the foreign countries.
Since China opened it''s domestic market to foreign direct investment
in 1979, the amount of FDI in China has increased dramatically.
Currently, China has become the world''s primary target for FDI,
and FDI in China has likewise become an important power source
for the growth of the world economy. In recent years, China has also
become Taiwan and Korea''s primary target for FDI, and has an
important effect upon both countries. The purpose of this paper is to
analyze the factors that attract foreign investors to conduct foreign
direct investment in China, more specifically, to analyze and compare
the type and determinants of Taiwan and Korea''s FDI in China.
The Results of this study are as follows:
First, according to the FDI theories related to developing country''s,
the location advantage of the target country for direct investment
was found to be the most important determinant in deciding whether
to invest in a foreign country.
Second, regression analysis was performed to determine the factors
that attract foreign investors to invest in China. The regression results
for variables such the market size in China (GDP), the average of
annual wage (WAG), and the exchange rate of the Rmb to the U.S.
dollar (EXC) were all statistically significant and the signs of GDP
and EXC were positive with that of WAG being negative. Thus the
three factors above are, indeed, important determinants for foreign
investment in China.
Finally, regression analysis based on Kojima''s theory was performed
to determine Taiwan and Korea''s style of direct investment in China.
Kojima, based on the relationship between FDI and trade, divided
FDI into two types: pro-trade FDI (Japanese style FDI) and anti-trade
FDI (American style FDI). The results of regression analysis showed
that all the coefficients had a positive sign, meaning that Taiwan and
Korea''s direct investment in China were pro-trade FDI in form and
occurred based on cost-oriented factors. Thus, it can be concluded
that Taiwan and Korea''s FDI in China are production factor-oriented
in nature.
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