外商直接投資行為的決定因素外文翻譯-其他專業(yè)(編輯修改稿)
2025-02-24 08:57 本頁(yè)面
【文章內(nèi)容簡(jiǎn)介】 rnational) and the higher the incentive to operate within the market. Buckley and Casson, Hennart and Caves (1996) further developed this approach by stating that the resulting power of market imperfections (originating in lesstradable goods such as “research and development”, knowledge or intangible assets such as brands) are an incentive for internalization and thus for the formation of TNC’s. Further explanations of location decisions are mainly related with the fragmentation of production processes by singleplant firms into different stages based on different relative factor endowments and thus prices across countries (the factor proportion model, Helpman and Krugman, 1985). In this case, vertical FDI is unidirectional (from richly endowed countries to cheaper labour endowed locations). decisions require a huge amount of information, prise different steps where a large number of small sequential decisions are made during several months or years, and the invested capital is relatively immobile and focused on the long term (Aharoni, 1999). In the meantime environmental variables are permanently changing in unpredictable ways and decision makers are themselves affected by rather different events. The process involves a lot of different people that, directly or indirectly, influence the final location. Furthermore, each FDI location decision prises not only the “ economically rational” part but also the “behavioural” part, where perceptions and other cognitive features of managers are included (Katona, 1975).Therefore, a more plete definition of FDI location decisions, as the one provided by the behavioural approach, must also consider the way the behavioural ponent influences a FDI location decision by recognizing the relevance of managers’ cognitive characteristics within the decisionmaking process. Moreover, a feature of most decision making situations is the existence of uncertainty or “the absence of ability to decipher all of the plexity of the environment。 especially one whose very structure itself evolves over time” (Heiner, 1983, p, 569). It includes, besides risk, the known unknowns andunknown unknowns. Contrary to risk, the remaining part of uncertainty cannot be mitigated and it is not possible to assign probabilities for each alternative (Knight, 1921). However, the behaviour of all types of agents is thought to be highly influenced by uncertainty and while neoclassical economics usually play down the outes to which they are not able to assign a probability the behavioural approach emphasizes it. That is, it differs from expected utility theory where risk and uncertainty are often faced as being the same thing while acting as a constraint to maximization (Hirshleifer and Riley, 1992, p. 10).The behavioural approach considers how uncertainty and the extrinsic and intrinsic cognitive characteristics of managers influence the decisionmaking process. It fully considers the FDI decisionmaking process by giving uncertainty a central role in each step. This is very important for three reasons: First, the emphasis on rules of behaviour in this paper arises from the fact that most situations faced by decision makers are related to “nonreplicable uncertainty or even ignorance” (Heijdra, 1988,p. 83)。 Second because individuals usually deal with each e
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