台商海外市場的進入模式與經營績效之研究

Abstract

海外市場進入模式的選擇，不僅直接地影響企業的營運，更甚至影響企業海外市場的未來發展。目前進入模式的研究中涵蓋的國家樣本大多為已開發國家，但以開發中國家為樣本的研究文獻卻是相當的稀少。因此，本篇研究以台灣為例，欲探討開發中國家之國際化過程與成功之關鍵因素。本研究樣本為94年經濟部所實施的「製造業對外投資實況調查」，涵蓋金屬機械工業、電子資訊業、化學工業、和民生工業等台灣四大產業，有效樣本數達1607筆資料。本研究以Logistic迴歸模型探討資源變數對進入模式選擇和海外市場經營績效之主效果，並且更進一步探討進入模式的中介效果與調節效果。研究結果發現，產業類別、公司規模、投資區域、技術來源、投資型態都會影響進入模式之選擇。在經營績效方面，產業類別、企業規模、員工生產力為顯著的正向影響經營績效，而研發強度則為負向的影響。此外，意外地發現，採用外商合資且向外取得技術來源的廠商在海外市場的經營績效表現較佳，而採用外商合資模式且有從事多角化投資的廠商虧損的機率較高。

Unlike previous researches, this study focuses on undeveloped country to explore the key determinants of entry mode choices and performance. The data is "manufacturing foreign investment research" which is conducted in 2005 and covers metal mechanical industry, IT industry, chemical industry, and commodity industry. Logistic regression model is used in this article to explore the main effects of resource to both entry modes and performance, and further explore entry modes’ mediating effects and moderating effects. It shows that industry category, company size, investment area, sources of technology, and investment patterns influenced the choice of entry mode. Industry category, employee productivity ,and R&D intensity have different effect on performance. Interestingly, the interaction between foreign joint venture and technology from outside sources has positive effect on performance, but the interaction between foreign joint venture and diversification is negative.