Empirical and theoretical Study on international acquisitions, mergers, joint ventures and wholly owned subsidiaries by Japanese firms

日本企业国际收购、兼并、合资及全资子公司的实证与理论研究

基本信息

批准号：
10630104
负责人：
HOSHINO Yasuo
金额：
$ 2.18万
依托单位：
University of Tsukuba
依托单位国家：
日本
项目类别：
Grant-in-Aid for Scientific Research (C)
财政年份：
1998
资助国家：
日本
起止时间：
1998 至 2000
项目状态：
已结题

项目摘要

We investigate the firm-specific advantages and entry modes of international acquisitions, mergers, joint ventures and wholly-owned subsidiaries by Japanese firms, as decisive factors of business performance for Japanese subsidiaries in Thailand. By ANOVA, profitability for those subsidiaries of half ownership of shares is shown to be higher than cases of majority or minority or wholly ownerships. By multiple regression analysis, size of parent companies has negative, and numbers of subsidiaries and years of operations have positive effects on the profitability of subsidiaries with statistically significant differences. Further, the level of R ＆ D, total years of experiences of subsidiaries, and operating years have positive effects with significances.Secondly, non-parametric test showed that Japanese subsidiaries in the US (NY, NJ) and 13 Latin American countries have no relationship between entry modes and profitability. Firm-specific advantages and internalization advantages of parent companies have positive influences on the performance of subsidiaries with significancesThirdly, we analyze entry, divestment and stability of Japanese manufacturing firms in 4 ASEAN countries (Indonesia, Malaysia, Philippine and Thailand). Stability is defined as subsidiaries without divestment and relocation. Wholly-owned affiliates and related national joint ventures with networks are equally stable and they are more stable than other types of joint ventures with significance.

我们调查了日本公司的国际收购，合并，合资企业和全资子公司的特定公司优势和进入模式，这是日本子公司在泰国的确定业务绩效因素。通过方差分析，熟练的股份一半所有权的子公司被证明高于多数或少数族裔或完全所有权的案件。通过多元回归分析，母公司的规模为负，子公司的数量和多年的运营对具有统计学上显着差异的子公司的可能性具有积极影响。此外，研发水平，子公司的总年经验和运营年的积极影响具有显着性。第二，非参数测试表明，美国（NY，NJ）的日本子公司（NY，NJ）和13个拉丁美洲国家没有参赛模式和概率之间的关系。母公司的特定优势和内部化优势对以显着性的子公司的绩效产生了积极影响，我们分析了日本在4个东盟国家（印度尼西亚，马来西亚，菲律宾和泰国）的日本制造公司的入境，撤资和稳定性。稳定性定义为没有撤资和搬迁的子公司。与网络的全资分支机构和相关的国家合资企业同样稳定，它们比其他具有重要意义的合资企业更稳定。