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德国在华知识密集制造业投资进入方式的时空特征及区位影响因素
符文颖,, 吴艳芳
华南师范大学地理科学学院,广州 510631

作者简介:符文颖(1984-), 女, 海南海口人, 博士, 副教授, 中国地理学会会员(S110009141M), 主要从事产业集群和区域创新研究。E-mail:fuwenying@m.scnu.edu.cn

摘要

外资知识密集型制造业进入中国市场,对中国制造业升级转型起着一定的作用。本文围绕区域制度环境和区域吸收能力,探讨影响知识密集型企业进入方式的区域环境,旨在揭示知识密集型产业的外商进入方式的地理驱动机制,有利于加深理解在经济发展方式转型的时代背景下,区域与城市获得外生技术发展动力的机制。采用从1982-2014年德国在华投资企业数据库,结果发现,德国知识密集型制造企业在中国的投资呈现由沿海地区向内陆地区扩张、沿海中心城市向周边城市扩散的时空趋势,并且在1995年后,其进入方式从合资为主向独资为主转变。逻辑计量模型显示,德国知识密集型制造企业的进入方式受到多项区位因子的影响,其中地方人力资源水平和产业专业化水平是知识密集型制造企业选择以合资方式的进入中国市场的重要区位因素,表明区域知识吸收能力是形成全球—地方战略协同的关键变量;另一方面,实际使用外资存量和地方专利授权量这两个区位影响因素则会显著促成知识密集型制造企业采用独资的进入决策,反映了区域制度环境对吸引以知识产权保护为战略核心的知识密集型制造业的作用。

关键词: 知识密集型企业; 进入方式; 时空特征; 区位因素; 德国对华直接投资;
Spatio-temporal characteristics and locational determinants for entry mode of German knowledge-intensive FDI in China
FU Wenying,, WU Yanfang
School of Geography, South China Normal University, Guangzhou 510631, China
Abstract

Foreign direct investment in the knowledge-intensive manufacturing industry constitutes the key to industrial upgrading and economic restructuring in China. Present studies on foreign direct investment are still limited in regard to understanding their specific investment behaviors. Entry mode is the key strategy of foreign firms which determines their success in the host countries. Regions, as the basic spatial units with specific economic, social and cultural character, affect the entry mode of foreign firms to a great extent. This paper aims to reveal the geographical mechanism of the entry mode of FDI in the knowledge-intensive manufacturing sector, which advances the understanding of the exogenous-driven mechanism of urban and regional development within the context of economic restructuring in China nowadays. The theoretical framework of this paper proposes two fundamental locational factors influencing the choice of entry mode into the Chinese market: regional institutional environment and regional absorptive capacity. On the one hand, regional institutional environment is expected to influence the transaction cost of doing business in the host countries, in particular within the context of transition economies. When the regional institutional environment is better off, the knowledge-intensive firms tend to choose the wholly-owned entry mode to safeguard the interests of their own technology and reduce the risks of being rapidly imitated by local actors without costs. On the other hand, regional absorptive capacity enhances the willingness of foreign firms to form joint ventures with local firms in order to tap into the local knowledge pool. In regions with low absorptive capacity, foreign investment tends to constrain the scope of knowledge exchange within communities of foreign firms, and show limited willingness to cooperate and interact with local firms. Using the database of German knowledge-intensive FDI in China from 1982 to 2014, the analysis shows that the German FDI has been concentrated in the coastal areas of China. Spatio-temporal statistical analysis demonstrates that the location of German FDI has been spreading from coastal to inland provinces. In coastal provinces, it has been spreading from the central to the peripherial cities. Since 1995, the entry mode of German knowledge-intensive FDI has been shifting from joint ventures to wholly-owned mode. The logit model results further show that the entry mode of German FDI in knowledge-intensive sector is driven by multiple locational factors. On one hand, the decision of FDI firms to take joint ventures as the entry mode in the host country is influenced by the level of urban human capital and the degrees of industrial specialization. This implies that regional knowledge absorptive capacity is essential to the formation of local-global strategic coupling. On the other hand, the FDI stock and the number of authorized patents in the city significantly encourage the entry mode decision of a wholly-owned FDI firm, because the knowledge-intensive firms’ core competence lies in technology. These firms are most concerned about the issues on intellectual right protection. As a result, the regional institutional environment is an important locational determinant for the knowledge-intensive FDI firms.

Keyword: knowledge-intensive firm; entry mode; spatial-temporal character; locational determinants; German direct investment in China;
1 引言

1978年以来,中国的制造业主要由外资推动发展,到2001年中国加入世界贸易组织(World Trade Organization, WTO)之后,受到中国巨大的市场潜力和廉价制造成本(主要是劳动力成本)的吸引,越来越多的来自欧美发达国家的企业进入中国投资。联合国贸易和发展会议2015年的“世界投资报告”显示,中国是全球接收外商直接投资最多的国家,约占全球总量的20%[1]。在这种发展背景下,知识密集制造业的全球转移对促进中国从“世界工厂”向“世界制造中心”发展有着不可忽视的作用,因此对外资知识密集型制造业在中国投资行为的研究有着重要的实践意义。

尽管地理学者对外商直接投资区位的研究已日趋成熟和完善[2-4],但是对外商特定行为模式的地理驱动机制研究仍然十分有限。知识密集型企业与传统生产型企业有所区别,更倾向于采取积极主动的国际化战略[5-6]。在国际投资中,知识密集型企业往往通过战略性的选择进入方式,以获取东道国的市场、人力资源、知识技术等有形和无形的资源,同时将自身的资本、技术、产品和管理体制引入东道国[7]。与传统制造型企业注重劳动力等要素成本的区位因子不同,知识密集型企业的投资行为更多的受到与知识和制度相关的区位因子驱动,因此,将知识密集型企业界定为研究对象有利于在现有文献基础上进一步理解知识经济驱动下外商投资的特有区位影响因素组合。从外资企业的股权控制层面,可将外商进入方式划分为独资和合资两种。独资企业与合资企业相比,由于不受合资方的影响,便于管理的同时有利于公司技术和经营策略的保密,但反之,独资企业在缺乏合资方的帮助下,也会受到投入资金大、投资风险增大、享受东道国优惠政策减少等不利因素的威胁[8]

以外商企业投资行为的区位影响因素作为理论构建点,本文围绕两个决定知识密集型企业进入方式的区域环境,即区域制度环境和区域吸收能力进行研究。一方面,区域制度环境是外商企业进入方式的主要影响因素。以往的研究指出,东道国的政策进步会促进投资者选择独资的进入方式[9]。由于其核心知识和技术驱动的特点,知识密集型产业更加看重东道国的制度环境。在转型国家,外商投资面临产权界定模糊、市场制度不完善、政策不确定性等问题,进入方式的战略选择更是知识密集型企业降低在东道国交易成本的重要途径。另一方面,区域吸收能力的提高又会促使外商企业通过合资的方式达到知识互补优势的目的。与发达国家的传统制造企业开拓海外市场的投资动机不同,发达国家的知识密集型企业更重视东道国的研发强度,其进行海外投资的原因除了开拓市场外,也旨在寻找新知识并实现技术多样化[10-11]。区域吸收能力是影响知识溢出空间效应的关键因素,在本土企业吸收能力低下的区域,外商投资倾向于形成内部化的知识交流,从而降低了与本土企业互动和合作的意愿,形成飞地型的生产模式[12]。在这两种区域机制的共同影响下,外商企业通过两相权衡合资与独资的优劣势,最终决定能使其利益最大化的进入方式。

本文以德国知识密集型制造业的进入方式及其区位影响因素为研究命题,以进一步理解知识密集型制造业在华投资行为,以及其进入中国投资方式的地理驱动机制。德国作为发达国家中的传统制造业强国,在20世纪90年代已经发现中国制造业战略合作地位,对中国外商直接投资贡献较大,德资企业在中国也较为普遍,因此,研究德国知识密集型制造业有一定的普遍性和代表性。本文采用从1982-2014年德国在华投资企业数据库,描述了德国知识密集型企业在华投资的进入特征的时空演变特征,通过建立逻辑回归模型考察德国知识密集型企业进入方式的区位影响因素,以期更全面地了解知识密集型制造企业在华投资行为,从而为地方政府吸引高水平的外商直接投资提供政策依据。

2 研究数据与方法

知识密集型产业在产业类型上可分为知识密集型制造业和知识密集型服务业两种,其中知识密集型制造业是指以技术和创新活动为核心,在产品和生产流程中具有较高的科学知识附加值的制造类企业。根据国外对知识密集型产业的界定[13],并综合中国工业的发展情况,本文对知识密集型制造业的研究包括以下行业:焦煤及精练石油产品的制造、化学原料和化学制品制造、基本金属制造、通用设备制造、电气机械和器材制造、医药制造、通信设备、计算机及其他电子设备、光学钟表等仪器仪表制造和交通运输设备制造9类。

基于以上思考,本文采用由德国工商总会大中华区提供的德国在华投资企业名录,通过对比中国知识密集型制造业的九大分类,确定名录中与之对应的行业分类共有11小类经筛选得到初始企业名单,并以登录企业官网和使用各大网络搜索引擎等方式,查找相关企业的进入时间、进入区位和进入方式等信息,建立了共包含1851个企业信息的德国在华知识密集型制造企业数据库。以该数据库为基础,本文通过相关描述统计分析,归纳德国知识密集型企业在华投资进入方式的时空特征。

本文进一步选取德资知识密集型制造企业进驻数量超过10个的城市为代表,以划定的6个时间区间为节点,从各省市统计年鉴、中国城市统计年鉴、中国劳动统计年鉴等查找对应城市的国内生产总值、工业总产值、各行业工业产值、每万人专利授权量、实际利用外资额以及各地区就业人员受教育程度构成等各项统计指标数据,用于衡量各进驻城市的地方经济发展水平、创新能力,及计算各行业的专业化水平、人力资本水平和累计实际利用外资总额等区位影响因素变量,由此得到进入时间跨度在1982-2014年间,分布地域涉及17个城市,企业信息和区位时间截面信息一一对应的有效样本741个。文章最后建立逻辑回归模型分析了进入方式的区位影响因素,以探讨德国知识密集型制造企业进入中国投资方式的地理驱动机制。

3 德国知识密集型制造业在华投资的进入特征
3.1 地域特征

3.1.1 沿海向内陆扩张、中心城市向周边扩散的区位变化趋势 统计结果显示,有德国知识密集型制造企业进入信息的城市共有84个,企业总数为1851家,其进入城市基本遍布中国各大省份,囊括了北京、天津、上海、重庆4个直辖市,河北、山西、辽宁、吉林、黑龙江、江苏、浙江、安徽、福建、江西、山东、河南、湖北、湖南、广东、广西、四川、云南、陕西、甘肃20个省份,宁夏、新疆2个自治区以及香港特别行政区,共计27个省级行政单元。从其地域分布的广度分析,德国知识密集型制造企业的进入区位并不限于大众所认知的沿海发达城市,也包含了众多的内陆城市,如新疆的乌鲁木齐、云南昆明、四川成都等。

图1 德国在华知识密集型制造企业进入时间分布 Fig. 1 Spatial distribution of German FDI in knowledge-intensive sectors by entry year

对各进入区位最早的企业进入时间情况的统计发现(图1),德国知识密集型制造企业最初进入的地域集中分布在沿海对外开放程度相对较高的长江三角洲、珠江三角洲和环渤海地区;到了20世纪90年代,德国知识密集型制造企业出现向中国内陆城市扩张的现象。其原因为20世纪80年代,中国处于改革开放初期,华东、华北和华南地区在经济、文化、政策等领域对外开放程度较高,企业进入壁垒相对较低;进入90年代后,中国改革开放取得了巨大的成就,而中国沿海发达地区的大城市开发经营成本逐渐上升,部分企业为了降低成本,于是向中国内陆或沿海发达地区周边的一些相对发达的城市扩张。

同时图1也表明了,在德国知识密集型制造企业向内陆扩张的过程中,伴随着较为明显的从沿海中心城市向周边城市扩散的趋势,其中以长三角地区最为明显,珠三角地区也呈现了该趋势特征,动态地展现出知识密集型制造业的集聚偏好。

3.1.2 地域性的企业集聚现象各区位德国知识密集型制造企业数量图显示(图2),德国知识密集型制造业在华投资的地域集聚现象较为明显。而知识密集型制造企业全国分布情况统计表明(表1),仅上海、苏州、北京、广州、深圳5个城市就集中了德国知识密集型制造企业1210家,占中国市场中德国知识密集型制造企业总数的65.37%,5个城市所拥有的德国知识密集型制造企业总数分别占全国的36.84%、11.94%、9.45%、3.89%和3.24%。

图2 德国在华知识密集型制造企业数量的空间分布 Fig. 2 Spatial agglomeration of German FDI in knowledge-intensive sectors

表1 知识密集型制造企业全国分布情况统计表 Tab. 1 Regional distribution statistics of German FDI in knowledge-intensive sectors

德国知识密集型制造企业的地域集中现象,是知识密集型制造业产业集群化的表现。因为这些地区的进入时间较早,经济发展水平较高,工业技术专业化处于领先水平,拥有较为丰富的技术资源和人力资源,社会对外资企业的接纳程度较高,而政府的支持力度也相对较强,企业间合作的可能性更高,从而具备了各项产业集群生成的初始动力。企业为了获得更高的规模递增效益和溢出效益,于是定位大多集中在长三角、珠三角和环渤海地区等知识型产业较为集聚的地域。

3.1.3 独资为各区位主要进入方式 对已建立的德国知识密集型制造企业数据库中具有进入方式信息的1127家企业进行分类统计,得到以独资为进入方式的企业数量有794家,而合资的数量为333家,采用独资方式的企业数是采用合资方式的企业数的2.38倍。

图3显示了各进入区位的德国知识密集型制造企业主要进入方式的地理分布情况,经统计,上述1127家德国知识密集型制造企业涉及的区位城市共有75个,其中所有德国知识密集型制造企业均以独资为进入方式的城市有14个,独资企业过半数的有29个,即德国知识密集型制造企业以独资为主要进入方式的区位城市有43个,占57.33%;所有德国知识密集型制造企业均以合资为进入方式的城市有25个,合资企业过半数的城市有7个,即德国知识密集型制造企业以合资为主要进入方式的城市有32个,占42.67%,略少于前者。

图3 德国在华知识密集型制造企业主要进入方式分布 Fig. 3 Spatial distribution of German FDI in knowledge-intensive sectors by entry mode

为了进一步说明现象,以上海、苏州、北京、广州和深圳5个德国知识密集型制造企业明显集聚的区位为例,它们的独资企业比重分别是72.6%、89.2%、75.5%、76.2%和89.5%,比重虽然所有差别,但数据仍然表明在集聚区位城市,独资的德国知识密集型制造企业比重要远远高于合资企业。综合数据表明,独资是德国知识密集型制造企业的主要进入方式。这也从侧面反映了中国市场体制转型的成功过渡,特别是在发达的沿海城市,市场体制趋于完善,合资的进入方式并不是知识密集型外商投资企业减少交易成本和降低运营不确定性的唯一途径。

3.2 时间特征

3.2.1 德国知识密集型企业发展的两个高峰期 进入中国的德国知识密集型制造企业数量随时间发展变化趋势清晰地表明(图4),进入中国市场的德国知识密集型制造企业发展有两个高峰期,其峰值一个出现在1995年,一个出现在2004年。曲线中还有4个次一级的小峰谷,分别出现在1985年、1992年、1997年和2010年。这些时间点的出现与世界、中国的发展历程和FDI变化趋势是相对吻合的。

图4 德国在华知识密集型制造企业数量的时间变化 Fig. 4 Temporal change of the number of German FDI in knowledge-intensive sectors

1990年以前,中国的对外开放仍处于试探期,这个时段进入中国的外商投资主要以海外华人投资为主(来自港澳地区),因此每年的德国知识密集型制造企业进入数量不多;进入20世纪90年代,由于改革开放和市场放宽,外商对中国市场十分看好,因此从1990年到1995年,每年的德国知识密集型制造企业进驻数量增长速度明显加快;到了1995年由于一些限制外资并购政策的出台,每年进入中国的德国知识密集型制造企业数量开始出现下降,在1998年又受到了国际金融危机的影响,因此1999年德国知识密集型制造企业的进入数量降至最低值。21世纪以后,由于中国加入了国际世贸组织,市场规模进一步扩大,知识密集型制造企业的增长速度明显加快,然而在2004年增至最高值后,德国进入中国投资的企业逐渐减少。据德国银行研究会2004年对德国对华投资的分析报告指出[14],德国在华投资企业面临逐渐升高的原材料和电力成本,同时由于大量外商企业进入中国市场造成的激烈竞争,以及政府对关键行业(如德商活跃的汽车行业)的过量投资造成的产能过剩,德国在华投资企业的利润空间减小。由此在多方因素的影响下,德国知识密集型企业在2004年后进入中国市场的数量逐年减少。

3.2.2 从合资为主到独资为主的时间转变 根据独资企业和合资企业随着时间发展的数量变化趋势,可以将德国知识密集型制造企业在中国的进入方式划分为两个阶段(图5):1980-1995年和1996年至今。1980-1995年,合资为德国知识密集型制造企业进入中国的首先方式;而1995年以后,德国知识密集型制造业独资企业每年增加的数量明显多于合资企业。因此,可以认为1995年是德国知识密集型制造企业进入方式从以合资为主向独资为主转变的重要时间截点。推断现象出现的原因:一方面是改革开放后市场体制建设的加快和完善;另一方面则是知识密集型制造企业已从投资的试探期进入了投资战略期,德国知识密集型制造企业在中国积累了一定的经营经验,出于利益更大化的考虑,独资成为了首选的进入方式。

图5 德国在华知识密集型制造企业进入方式的时间变化 Fig. 5 Temporal change of German FDI in knowledge-intensive sectors by entry mode

3.3 小结

总的来说,德国知识密集型制造业在华投资的时空特征主要表现为:大多集聚在上海、苏州、北京、广州和深圳等经济发展水平较高的城市,并随着时间的演变,呈现由沿海逐渐向内陆城市扩张、从沿海中心城市向周边城市扩散的趋势;而在德国知识密集型制造企业数量增长的过程中,随着转型经济的制度建设进程,外商进入方式也将呈现出动态的时空演变格局,以1995年为时间截点,其进入方式形成从合资为主向独资为主转变的时间格局。

4 德商进入方式的逻辑回归方程
4.1 变量定义及模型构建

尽管目前独资为德国知识密集型制造企业在华投资的主要进入方式,但其发展过程中经历了从合资为主到独资为主的转换,其进入方式的选择具体受到哪些区位因素的影响,表现了何种地理驱动机制,值得进一步的研究。为此,本文进一步构建了进入方式的逻辑回归模型。逻辑回归模型是因变量只有两种情况的模型,事件的发生与否以0或1来表示,假定有多个自变量,其通用模型为:

logit p = ln p 1 - p = β 0 + β 1 x 1 + β 2 x 2 + + β k x k (1)

式中: p = prob y = 1 | x 1 , x 2 , , x k 为因变量在给定系列自变量 x 1 , x 2 , , x k 的值时事件的发生概率; β 0 为截距; β k 为回归系数( k = 1 , 2 , , n )。具体的,本文中因变量y指企业的进入方式,0代表独资,1代表合资。而本文的自变量xk有控制变量和区位变量两种,其中控制变量为行业类型(I)、时间截点(T)和进入区位(L),区位变量则基于理论构建框架中界定的区域制度环境和区域吸收能力两大方面,选择4个相应的代表变量,包括代表区域吸收能力的人力资本水平(HC)和对应进驻外商企业行业的本地专业化水平(SPE)两个变量,以及代表区域制度环境的实际使用外资存量(FDI)和每万人专利授权量(PATENT)两个变量。各变量的具体定义情况如表2所示。

表2 模型变量定义 Tab. 2 Definition of dependent and independent variables

由此,本文的逻辑回归模型具体形式为:

log it p y = β 0 + β 1 T + β 2 I + β 3 L + β 4 HC + β 5 SPE + β 6 FDI + β 7 PATENT (2)

由于逻辑回归模型是非线性模型,其变量系数不直接反映自变量对因变量概率变化的影响程度,仅能从估算系数的符号来判断自变量与因变量概率变化间存在的正负相关关系。为了更好地理解自变量对事件概率的作用,在logistic回归中还常采用到发生比(odds)和发生比率(odds ratio)来对回归系数进行解释,将式(1)进一步变形,得到:

odds ( p ) = p 1 - p = exp β 0 + β 1 x 1 + + β k x k = e β 0 × e β 1 x 1 × × e β k x k (3)

式中: odds ( p ) 称为发生比(odds),即事件发生的概率p与未发生的概率 1 - p ) 的比值。当变量的值发生变化时,则有:

OR = odds ( p i ) odds ( p j ) = exp β 0 + β 1 x 1 i + + β k x ki exp β 0 + β 1 x 1 j + + β k x kj = e β 1 ( x 1 i - x 1 j ) × × e β k ( x ki - x ki ) (4)

式中:OR即发生比率(odds ratio),其实质是组间发生比的比值,可用于比较不同情况下的概率差异。发生比率对于分类变量和连续变量的解释有所不同,当自变量被编码为代表不同分类的离散值并定义为分类变量时,发生比率表示各分类组与对照组的事件发生比之比值,而当自变量为连续变量时,各该变量对应的发生比率表示每增加一个单位时发生比变化的倍数,即 ( x i + 1 ) 时的发生比等于 x i 时的发生比与发生比率之乘积。

4.2 模型结果分析

运用Stata软件对变量信息完整的741个样本构建逻辑回归模型(式2)并进行系数估算,结果显示(表3):时间截点(T)、行业类型(I)、万人专利授权量(PATENT)、行业专业化水平(SPE)、实际使用外资存量(FDI)和人力资本水平(HC)对德国知识密集型制造企业进入方式均存在显著影响。

表3 德企投资进入方式的逻辑回归模型 Tab. 3 Logit model for entry mode of German FDI

以时间段1事件发生(20世纪80年代以合资方式进入)的概率为比对基准,在其他时间段进入的德国知识密集型企业的时间变量估算系数均为负数,发生比率均小于1,表明与时间段1相比,在其他各时间段进入的德国知识密集型制造企业选择独资作为进入方式的可能性更高,其中尤其时间段3和4,即1996-2004年期间进入的企业,发生比率仅为0.16和0.157,显著低于时间段1,表明在该阶段选择独资的概率要大大高于基准时间段(20世纪80年代)。

模型结果(表3)同时表明,德国知识密集型企业的进入方式还受到行业因素的影响,其中行业3(电子电气制造类)和行业4(交通运输类行业)采用合资为进入方式的概率显著高于行业1(机械类),相比之下,行业2(化学类)同样具有选择合资的倾向,而行业5(医药类)则相对更倾向于采用独资的进入方式,但两者在统计上的显著性较低。可见,机械和医药类的德资企业是采用独资方式进入中国投资的主体。

在控制了时间截点(T)、行业类型(I)、进入区位(L)等变量后,如表3所示,模型的区位变量还进一步揭示了德国知识密集型企业进入中国投资方式的地理驱动机制,主要表现在4个方面:

(1)地方人力资本水平(HC)与知识密集型制造企业选择合资的进入决策呈显著的正相关性,地区劳动力平均受教育年限每提高1年,企业进入时选择合资的概率与选择独资的概率比值将提高1.25倍。之前的研究表明,人力资本水平和FDI技术溢出是相互促进的,区位的人力资本水平决定了东道国对FDI输入技术的学习和吸收程度,同时外资企业在进行投资的时候也需要选择人力资本水平相匹配的区位以保证企业的运营[16]。因此,随着地方人力资本水平的提升,地方政府和本地企业出于外资企业技术外溢的目的将会积极创造合作条件,双方合作的欲望和可能性会相对增加,从而促进外商知识密集型制造企业选择合资的进入决策。

(2)地方行业专业化水平(SPE)对知识密集型制造企业选择合资的进入决策有显著促进作用。随着产业专业化集群的形成,区域内将配备较丰富的熟练劳动力、其可选择的生产链上下游企业更多,产业配套设施也相对完善,因此产业集聚优势将会增大区位对外商投资的吸引力。贺灿飞等也在早期验证了集聚经济对增强地方外商直接投资吸引力有重要作用[17]。因此随着地方行业专业化发展,产业集群的逐步形成,集聚区位城市的地方企业拥有更完备的信息、生产、销售渠道,知识密集型制造企业在出于降低投资风险和利益最大化的考虑,会更偏向于以合资的进入方式在华投资。

(3)实际使用外资存量(FDI),即地方对外开放程度,对知识密集型制造企业选择独资的进入决策有促进作用。随着地方开放程度的提高,地方软投资环境逐渐优化,逐步接近外商投资者对东道国制度环境的稳定性、公平性、法规清晰化、执法透明化标准的投资需求,独资企业在地方的经营限制和交易成本有所减少,因此知识密集型制造企业选择以独资的进入方式也随之而增加。Morschett等对72个独立一手数据的统合分析指出,国家风险、法律限制等和建立独资公司的偏好呈负相关[18]

(4)地方每万人专利授权量(PATENT),即地方自主创新能力和知识产权保护制度强度,对知识密集型制造企业选择独资的进入决策有显著促进作用。改革开放初期,中国自主创新能力较低,需要依靠外商投资的技术输入以提升地区的创新能力,从2005年开始,中国实行自主创新战略以减轻对国外技术的依赖程度[19]。与本文结论对应,Javorcik通过研究发现[20],知识产权保护制度的不完善对知识密集型产业的投资者有一定的消极作用,外商投资会偏向于将较新的技术转移到知识产权保护制度更完善的东道国,以减少新产品和技术被地方迅速模仿的风险。同时杨全发等学者认为[21],东道国政府如果能够提供适度且有效的知识产权保护政策,允许跨国公司以利润最大化原则来确定其股权份额,将有助于其引入更为先进的技术,增加外来直接投资流量,符合社会福利最大化的原则。本文的结果则从区域尺度印证了地方投资环境和制度环境对外商行为的重要性,由此随着地方自主创新能力和知识保护制度的完善,东道区域和外资知识密集型企业双方出于利益考虑,均促进了知识密集型制造企业选择独资的进入决策的发生。

5 结论与讨论
5.1 结论

进入方式是决定外商投资企业在东道国成败的关键战略。不管是选择独资方式的绿地投资,抑或是合资方式的褐地投资,企业都面临一定的战略风险。随着中国市场体制改革的推进和投资软环境的优化,外商投资企业的进入战略也会相应调整和转变。其中,区域和城市作为构建制度环境的基本空间单元,所内涵的社会、经济和文化特质是影响跨国投资企业进入方式的重要影响因素。本文基于改革开放以来德国在华投资的数据,研究知识密集型制造业在华投资进入方式的地理驱动机制,区位特征与企业进入战略的匹配是决定知识密集型外商投资成功运营的关键因素,而理解这一空间匹配机制将有利于吸引更多的知识密集型外商投资,从而促进中国产业经济的进一步升级和转型。

研究结果表明,德国知识密集型制造企业的在进入中国初期主要集聚在沿海地区,随着沿海城市的发展和中部城市的进步,在时空分布上呈现由沿海地区向内陆地区扩张、沿海中心城市向周边城市扩散的趋势。德国知识密集型制造企业的进入方式受到多项区位因子的影响,其中地方人力资源水平和产业专业化水平是知识密集型制造企业选择以合资方式的进入东道国市场的重要区位因素,表明地方知识吸收能力是形成全球-地方战略协同的关键变量,另一方面,实际使用外资存量和地方每万人专利授权量这两个区位影响因素则会显著促成知识密集型制造企业采用独资的进入决策,由于以技术作为战略核心的知识密集型企业特别关注知识产权保护环境,该结果反映了地方良好的制度环境对吸引知识密集型制造业的作用。

5.2 讨论

在当前实施制造强国战略背景下,为促进中国制造业从“世界工厂”到“世界制造中心”的目标转移,使中国制造业发展紧贴知识经济的发展步伐,一方面,除了通过外资政策、优化投资环境,尤其是提高中西部区域核心城市、与沿海中心城市相对临近的城市的对外开放程度和专业化水平,吸引外资知识密集型企业向内陆地区扩张,使东部沿海地区和中部地区的发展逐渐平衡,减少沿海和内陆地区的差别。另一方面,还应突出强调对教育的投入和重视,企业间加强交流和学习,多开展专业培训和技能教育,提高地方的人力资本水平,在促进外资直接投入增长的同时也可提高外商投资和本地合作的机会,强化进入区位企业的知识学习能力和外资知识溢出效益,并进而形成利益共同体。此外,尽管加大对知识产权的保护力度将降低国内企业对外资企业技术模仿的可能性,但在增加海外知识密集型的高新技术产业流入的同时,也有利于塑造自主创新的制度环境,通过强化知识产权的保护力度,国内企业将更有动力提高自身的自主创新能力,从而形成与本地外资企业良性的知识互动和技术合作,长远看将促进中国制造业的升级与转型。

The authors have declared that no competing interests exist.

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[刘作丽,贺灿飞. 在华外商直接投资区位研究述评. 地理科学进展, 2009, 28(6): 952-961.]
<p>尽管学术界至今未能形成一般性的外商直接投资(FDI)区位理论,但已有的大量研究却对加深理解FDI的区位选择规律做出了重要贡献。中国作为一个成功转型国家,在华FDI区位研究早已成为各界关注的热点问题之一。本文从区位理论和FDI理论两方面梳理FDI区位研究的理论基础后,回顾并评述了在华FDI区位研究进展,并提出了其未来发展中需要完善的相关命题。早期的研究以定性描述为主,从20世纪90年代中期开始转入利用计量经济模型对影响在华FDI区位选择的因素进行识别;研究主要集中在省区尺度,识别出的区位因子主要包括成本、市场、集聚和制度等。FDI在东道国的区位选择行为是&ldquo;区域&mdash;产业&mdash;企业&rdquo;共同作用的结果,在识别东道国区位要素的基础上,已有文献同时也关注了来源国效应、产业特征与企业属性和时间演化对FDI区位决策的影响。未来研究中需要加强对新兴经济体FDI区位模型的一般性讨论,强化&ldquo;区域&mdash;产业&mdash;企业&rdquo;系统研究,并关注基于功能视角的在华FDI(跨国公司)区位研究。</p>
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For a young, resource-constrained, technology-based start-up embarking on international sales, the choice of entry mode is a strategic decision of major importance. Yet within the emerging research stream of international entrepreneurship, curiously little attention has been devoted to the empirical analysis of foreign market entry forms. The authors address this important issue by analyzing the determinants of 398 export decisions taken from a U.K. survey of 246 technology-based start-ups with international activities. The findings show that the entry mode decision is necessarily a trade-off between the resources available and the support requirements of the customer. Issues of the innovativeness of the technology and the historic channel experience of the firm in its domestic market are particularly strong determinants of mode choice. The authors suggest that an organizational capability perspective on these firms' behavior offers a better explanation of their entry decisions than either transaction cost or stage theory.
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Abstract The choice of entry mode into a foreign market has a major impact on the success of a firm's international operations. However, the existing literature on the entry mode decision has either presented a list of considerations without identifying underlying constructs, or treated each entry decision in isolation. Here, a unifying framework is developed. This framework identifies three underlying constructs that influence the entry mode decision. These constructs are linked to considerations that have been previously discussed in the literature. It is argued that a firm's choice of entry mode depends on the strategic relationship the firm envisages between operations in different countries. A particular entry decision cannot be viewed in isolation. It must be considered in relation to the overall strategic posture of the firm. Further, the paper argues that different variables often suggest different entry modes, and that resolving these differences involves accepting trade-offs.
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本文首先比较了不同跨国市场进入方式的优缺点,分析了并购与新建、独资与合资的各国选择经验和选择影响因素,最后指出我国对外直接投资的跨国市场进入方式选择:从投资动机看,对发达国家技术和管理经验寻求型直接投资的进入方式应以并购、合资为主,从东道国的外资政策看,我国的产业转移型对外直接投资的主要目标是发展中国家,进入方式应以新建、合资为主,从投资规模角度看,我国自然资源寻求型对外直接投资的进入方式应以合资为主。
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In this study, we bridge two streams of foreign direct investment literature, specifically studies on establishment mode choice (i.e., the choice between an acquisition and a greenfield establishment) and studies on entry mode choice (i.e., the choice between a wholly owned outlet and a subsidiary with shared ownership). We arrive at a conceptual synthesis for an examination of the effects of the same predictors on the dual entry-establishment mode choice made in the context of a single foreign investment. We demonstrate that a parent firm's technological intensity, international strategy and experience determine both establishment and entry mode choices. Moreover, we apply Williamson's new institutional economics to investigate the influence of institution building on multinational enterprises' dual investment choice. In the context of transition economies, we test empirically the possible moderating effect of a host country's institutional environment. We conclude that the degree of the host country's institutional advancement moderates the effect of both technological intensity and international strategy on the establishment and entry mode choice.
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This paper examines the impact of knowledge tacitness on a firm's propensity to establish plants in foreign rather than domestic locations. Our predictions build on knowledge-based, internalization, and evolutionary theories of foreign direct investment. We argue that the tacitness of technology has an inverted-U effect on the propensity to undertake foreign investment. We also expect that as a firm learns about a technology, it will become more likely to make foreign investments. We examine two forms of learning: that which accumulates as a function of the number of plants previously built by the firm (transfer-based learning), and that which accumulates as a function of time since the firm started using a technology (time-based learning). We investigate empirical effects in a sample of investments in the memory segment of the semiconductor industry. Our predictions about the curvilinear effect of tacitness are supported. The results also suggest that learning is a matter of taking time to become acquainted with the use of the technology, and of gaining experience through successive foreign plant investments. The study adds to the understanding of the effects of knowledge on corporate expansion.
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ABSTRACT I attempt to advance the research on globalization and regional development in China through a study of Kunshan City. I investigate the restructuring process, the structure of foreign direct investment, and the nature of global &ndash; local networks to understand trajectories and models of regional development in the context of globalization. I highlight the interactions of the Chinese state, transnational corporations (TNCs), and regional assets in shaping the trajectories of regional development. I argue that Kunshan&rsquo;s pathway to globalizing regional development is state centered and heavily dependent on global forces, which has made Kunshan a TNC satellite district and a dual city segmented between TNCs and domestic firms. I also argue that TNCs&rsquo; local embeddedness has to be positioned in their global and external networks and that the assessment of regional development has to be conditioned upon a region&rsquo;s specific context. The findings suggest that neither new regionalism nor global production network perspectives can fully explain regional development in China with huge domestic markets and large regional disparities. I promote an alternative, middle-ground perspective to regional development to better integrate global forces, state institutions, and local contexts. Such a third approach to regional development has the potential to localize TNCs and to develop indigenous capacities.
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利用面板数据对人力资本与经济增长的关系进行了实证分析。结果表明,人力资本对经济增长产生正向影响.且这种影响程度自东部向中西部依次递减。只有增加教育投资、提高教育回报率、提高劳动者受教育机会等措施才能进一步提升人力资本的作用。
[16] Yuan Lin, Zhang Hongxia.Relationship between human capital of host countries and FDI technology spillover: A literature review. Journal of Shandong University of Technology (Social Science) , 2011, 27(3): 13-16.
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[17] He Canfei, Liu Yang.Industrial agglomeration and sectoral distribution of foreign direct investment: A case study of Beijing. Acta Geographica Sinica, 2006, 61(12): 1259-1270.
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[贺灿飞, 刘洋. 产业地理集聚与外商直接投资产业分布: 以北京市制造业为例. 地理学报, 2006, 61(12): 1259-1270.]
The purpose of this paper is to investigate the systematic forces that determine the sectoral distribution of foreign investment. Unlike the existing literature, this study highlights the importance of industrial agglomeration and industrial linkage in attracting foreign investment. Using a panel dataset of two-digit manufacturing industries in Beijing during the period 1999-2004, this study finds that geographically agglomerated industries with strong intra-industrial linkages attract much foreign investment. Previous foreign investments have demonstration effects, information spillover effects and linkage effects, leading to industrial concentration of foreign investment. Investors also highly favor capital and technology intensive industries and are drawn to the most profitable and exporting industries, but avoid industries with high effective wage rates and high entry barriers. This study provides strong evidence to support that competitive and comparative advantages of local industries are critical to allure foreign investment. The existence of industrial clusters certainly heightens a city's attractiveness to foreign investment.
[18] Morschett D, Schramm-Klein H, Swoboda B.Decades of research on market entry modes: What do we really know about external antecedents of entry mode choice? Journal of International Management, 2010, 16(1): 60-77.
The choice of a mode of market entry is a critical component of the internationalization strategy, and numerous empirical studies have focused on this topic. Prior research, however, has provided mixed empirical evidence and thus, is difficult to interpret and review. This study examines the external antecedents of the choice of entry mode by meta-analyzing data from 72 independent primary studies. We focus on the decision between wholly owned subsidiaries and cooperative entry modes. For each variable, hypotheses about the theoretically expected direction of effect are posited and tested. We find a strong positive relationship between power distance as a cultural trait of the firm's home country and the propensity to establish a wholly owned subsidiary. On the other hand, we find a negative association between country risk, legal restrictions, market growth, and market size and the preference for wholly owned subsidiaries. We extensively discuss the implications of the meta-analytical results and investigate moderating effects of industry type and the time of the study. The relationship between income level of the host country and entry mode depends, to some degree, on the industry type. Service companies exhibit a negative relationship between income level and wholly owned subsidiaries, while manufacturing companies show a positive relationship.
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[19] Zhao Dali, Gao Wei, Li Yanli.Study on the influence on regional innovative capability by the means of knowledge transfer: Based on the analysis of the data during 2001-2008 in China. Science & Technology Progress and Policy, 2011, 28(16): 32-37.
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[赵大丽, 高伟, 李艳丽. 知识转移方式对区域创新能力的影响研究: 基于2001-2008年省际数据的分析. 科技进步与对策, 2011, 28(16): 32-37.]
[20] Javorcik B S.The composition of foreign direct investment and protection of intellectual property rights: Evidence from transition economies. European economic review, 2004, 48(1): 39-62.
While existing literature examined the impact of intellectual property protection on the volume of foreign direct investment (FDI), little is known about its effect on the composition of FDI inflows. This paper addresses this question empirically using a unique firm-level data set from Eastern Europe and the former Soviet Union. It finds that weak protection deters foreign investors in technology-intensive sectors that rely heavily on intellectual property rights. Moreover, the results indicate that a weak intellectual property regime encourages investors to undertake projects focusing on distribution rather than local production.
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[21] Yang Quanfa, Han Ying.Intellectual property right protection and FDI strategies of MNE. Economic Research Journal, 2006(4): 28-34.
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[杨全发,韩樱. 知识产权保护与跨国公司对外直接投资策略. 经济研究, 2006(4): 28-34.]
本文通过构建一个三方参与的两阶段动态博弈模型,来分析东道国的知识产权保护政策对于FDI的影响。分析结果表明,对于东道国政府而言,提供适度且有效率的知识产权保护政策,不仅可以增加FDI的流入量,而且可以引进较为先进的技术,从而通过降低成本和提高产量,实现东道国社会福利最大化。同时,东道国政府在提供有效率的知识产权保护条件下,允许跨国公司按利润最大化原则选择其股权份额,是符合东道国自身利益的。而仅当东道国政府无法提供有效率的知识产权保护时,限制外商投资比例才不失为一种次佳的政策选择。
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