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1、 Unit11Text MultinationalCorporations 跨国公司 1 Keywords2 Evolutionofmultinationalcorporation3 Definitionofmultinationalcorporation4 Impactofmultinationalcorporation5 Majordeterminantsofforeigndirectinvestment6 Questions 1 Keywords multinationalentityextractiveindustrymultinationalcorporationethnocentr
2、icfirmpolycentricfirmregiocentricorgeocentricfirmforeignaffiliatecorporateheadquartercross borderdealcompetitivepositiongovernment erectedbarriercountry of originbuilt inpositivestereotypeacquiringorestablishingfirmsintermediarygoodsjust in timelogisticssysteminvestmentclimateenvironmentalconstraint
3、politicalriskpoliticalupheavallocal contentrequirementexpatriateemployment 2 Evolutionofmultinationalcorporation Multinationalentitieshaveplayedaroleininternationaltradeformorethan300years ThebeginningsoftheseoperationscanbetracedtotheBritishandDutchtradingcompaniesand aftertheirdecline toEuropeanov
4、erseasinvestments mainlyintheextractiveindustries ThephenomenonasitisknowntodayistheresultoftheleadtakenbyU S basedcompaniesinthepost WorldWar periodandlaterfollowedbyWesternEuropeanandJapaneseentities Differenttermsaboundforthemultinationalcorporation Theyincludeglobal world transnational internati
5、onal supernational andsupranationalcorporation Thetermmultinationalenterpriseisusedbysomewhenreferringtointernationallyinvolvedentitiesthatmaynotbeusingacorporateform 3 Definitionofmultinationalcorporation 3 1UNdefinitionofMNC3 2QuantitativecriteriaforMNC3 3QualitativecriteriaforMNC3 4Keycriteriafor
6、MNC 3 1UNdefinitionofMNC TheUnitedNationsdefinesmultinationalcorporationsas enterpriseswhichownorcontrolproductionorservicefacilitiesoutsidethecountryinwhichtheyarebased 3 2QuantitativecriteriaforMNC Thenumberofcountriesofoperationistypicallytwo althoughtheHarvardmultinationalenterpriseprojectrequir
7、edsubsidiariesinsixormorenations Anothermeasureistheproportionofoverallrevenuegeneratedfromforeignoperations Althoughnoagreementexistsregardingtheexactpercentagetobeused 25to30percentismostoftencited Thedegreeofinvolvementinforeignmarketshastobesubstantialenoughtomakeadifferenceindecisionmaking Seve
8、ralnationsshouldbeownersofthecorporation 3 3QualitativecriteriaforMNC Thebehaviorofthefirmisthedeterminingfactor Ifthefirmistobecategorizedasamultinationalcorporation itsmanagementmustconsiderittobemultinationalandmustactaccordingly Intermsofmanagementphilosophies firmscanbecategorizedasethnocentric
9、 home marketoriented polycentric orientatedtowardindividualforeignmarkets orregiocentricorgeocentric orientedtowardlargerareas eventheglobalmarkets Evenethnocentricfirmswouldqualifyasmultinationalcorporationsifproductionwerethesolecriterion 3 4KeycriteriaforMNC Thefirmcontrolsitsproductionfacilities
10、abroadandmanagesthem anditsdomesticoperations inanintegratedfashioninpursuitofglobalopportunities 4 Impactofmultinationalcorporation Theimpactofmultinationalsvariesbyindustrysectorandbycountry Inoil multinationalcorporationsstillcommand30percentofproduction despitestrongnationaleffortsbysomecountrie
11、s Similarly thecontributionofmultinationalcorporations affiliatesmayaccountformorethanone thirdoftheoutputofthemarketingsectorincertaincountries Theimportanceoftheworldmarketplacetomultinationalcorporationsalsovaries Theforeignsalesshareoftotalsalesfortheworld slargestindustrialcorporationshasincrea
12、sedsteadily Thepercentagewillnaturallyvarybyindustry forexample oilcompanyratiosarewelloverhalf andbythecountryoforigin 5 Majordeterminantsofforeigndirectinvestment 5 1Marketingfactors5 2Barrierstotrade5 3Costfactors5 4Investmentclimate 5 1Marketingfactors Marketingconsiderationsandthecorporatedesir
13、eorgrowtharemajorcausesoftheincreaseinforeigndirectinvestment Evenasizabledomesticmarketmaypresentlimitationstogrowth Firmsthereforeneedtoseekwidermarketaccessinordertomaintainandincreasetheirsales 5 2Barrierstotrade Foreigndirectinvestmentpermitsfirmstocircumventbarrierstotradeandoperateabroadasdom
14、esticfirms unaffectedbyduties tariffs orotherimportrestrictions Inadditiontogovernment erectedbarriers barriersmayalsobeimposedbycustomersthroughtheirinsistenceondomesticgoodsandservices eitherasaresultofnationalistictendenciesorasafunctionofculturaldifferences 5 3Costfactors Servicingmarketsatsizab
15、legeographicdistancesandwithsizabletariffbarriershasmademanyexporters offeringsinforeignmarketsprohibitivelyexpensive Manymanufacturingmultinationalshaveestablishedplantsoverseastogaincostadvantagesintermsoflaborandrawmaterials Foreigndirectinvestmentoccursnotonlyhorizontally byfirmsacquiringorestab
16、lishingsimilarfirmsabroad butalsovertically Somefirmsengageinforeigndirectinvestmenttosecuretheirsourcesofsupplyforrawmaterialsandotherintermediarygoods Thisusuallysecuressupplyandmayprovideitatalowercostaswell 5 4Investmentclimate 5 4 1Definitionofpoliticalrisk5 4 2Formsofpoliticalrisk 5 4 1Definitionofpoliticalrisk Thegeneralattitudetowardforeigninvestmentanditsdevelopmentovertimemaybeindicativeofthelong termprospectsforinvestment Inmanycountries foreigndirectinvestmenttendstoarousenationalist
