【正文】 technology and other positive externalities and indirect employment effect. The spillover of technology occurs in two ways, the vertical and horizontal spillover. According to Phisalaphong (2020), horizontal spill over is an improvement of the productivity of local firms, as the entry of foreign petitors in the local market serves as a showcase to them and as an education provider for local personnel. Vertical spillovers occur when foreign firms have an impact on the local suppliers and consumers. Vertical spillover is also identified by Dunning (1993b) known as the backward linkages which are the purchases of goods from local suppliers which 13 in turn stimulates local entrepreneurship1. Spillover of technology is highly dependent on the level of technological sophistication of the foreign firms, the capacity of local firms to absorb foreign technology and on the extent to which foreign firms are integrated in the local industrial fabric (Nicolas, 1995). Toyota: The reluctant multinational The decision to invest in the Czech Republic Toyota is the world third largest carmaker and by far the leader of all Japanese carmakers. Toyota lagged behind pared to the other major Japanese automakers, in local production and the setting up of regional headquarters (Kumon 1998). This was because of its prudent strategy of avoiding risky overseas ventures and the importance of its home market. There was a change in the mentality of overseas investment when Toyota elected Hiroshi Okuda as president of the pany2. Toyota is strong in its domestic market, has a number of subsidiaries and production facilities in Western Europe and is expanding quickly only after 1999 into CEE to take advantage of the opportunities there. The Czech Republic offers low production costs, stable economic factors and its imminent European Union (EU) membership in 2020 provides access to the EU markets. Kolin may not be the best deal as Czech workers already earn more than three times pared to Romania, and their wages are still rising (Business Week, 15 November 2020). But the productivity of the Czech workforce is a pen sating factor. The Czech Republic is home to 97yearold Skoda, which was acquired by Volkswagen (VW) in 1991. VW introduced western quality controls and work habits to the Czech labour force and further built a work of Czech suppliers, who provided half its inputs by value. Besides that, Toyota was allowed to choose the location of its new plant. The Czech government granted generous investment packages to the new plant of Toyota and PSA in which the plant would get public support worth 5–15% of its value, that was, EUR75–225 million (CTK Business News Wire, 7 January 2020). Likewise, the package included a token fee of kc1bn for the site and free infrastructure that were in line with EU legislation (Global News Wire, 7 January 2020). Job creation and training grants were also given and Toyota was exempted from paying corporate tax for ten years. All these government incentives are another pull factor drawing Toyota to invest in the country. Strategy Toyota entered into a joint venture with PSA Peugeot Citroen of France, the European champion of diesel cars for production of small cars in the $ billion factory in Kolin, the Czech Republic in 2020. It was the largest single greenfield investment in the Czech industry ever. Starting in 2020, the plant will assemble 300,000 minicars a year, all priced under $7,500 which is 50% less than Toyota’s Yaris, its entrylevel model for the European market (Business Week, 15 April 2020). This joint venture was seen as the best and costeffective way to obtain substantial market share rapidly rather than greenfield investment, as addon deals and larger takeovers are anathema to Toyota. PSA and Toyota have split the investment costs and hope to generate healthy margins by pooling their expertise in engine and emissions technology. In this jointventure, Toyota will be responsible for the production while PSA Peugeot will be in charge of marketing. This project to Toyota is an important brandbuilding exercise to raise its current 4% of the European automobiles market. 14 Impact of Toyota’s investment on the Czech Republic Toyota’s greenfield investment enables it to build its production system from scratch, thus allowing a full utilization of its technology. Toyota’s distinctive and highly efficient manufacturing technology of JustinTime system3 and ‘Jidoka’4 leads to horizontal spillover to the local workforce by improving their productivity and vertical spillover to the consumers with a rise in the standard of product. PSA/Toyota’s Kolin car plant also led the entry of other Japanese car ponents suppliers like TRCZ, Tris and Aoyama Seisakusho into the region thus providing new employment opportunities to the local workforce. The new Kolinbased plant is expected to create 3,000 jobs and an increase in the number of indirect jobs. Toyota’s investment venture in the Czech Republic will in the long run enhance the working benefits for the workers in the automobile sector, as a result of the entries of these international suppliers. Toyota’s impact on the local ponents suppliers McAleese and Mcdonald (1978) observed that quality is the most important factor when deciding whether to use more local firms。捷克政府已獲得廣泛的補助和獎勵的辦法促進松下。大部分捷克組件的供應商是指那些成功的故事誰結下伙伴關系（捷克共和國和斯洛伐克文傳電訊社經營的外國公司新聞服務， 2020 年 1 月 25日）。雖然有松下合作經營與大約 30 個捷克供應商，包括 Okula Nyrsko， 3M公司 Cesko 或 Assidoman（英語報刊文摘， 2020 年 4 月 4 日），他 們只限于低附加值的活動。然而，成型任務這兩種文化是艱難的一年。 MTE 的挑選比爾森，因為高技能的軟件開發(fā)工程師，低成本的可用性及其鄰近松下電視機工廠。 MCI 公司成立于 Pardubic 工廠，從業(yè)人員 250 人，生產松下移動電話和汽車收音機。在比爾森的廠是最早，規(guī)模最大在捷克共和國日本的投資。 戰(zhàn)略和它的影響 投資和重組。土地被出售給松下在低于市場價格和基礎設施是安裝在規(guī)劃工業(yè)區(qū)比爾森。獲得進入歐盟市場準入是松下中央在中歐和東歐的投資策略。 9 松下電器：投資者單獨行為誰 動機進入捷克共和國 松下是