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ID:347391
大小:50.50 KB
页数:11页
时间:2017-07-26
《国家没有区位优势时的外商直接投资竞争【外文翻译】》由会员上传分享,免费在线阅读,更多相关内容在学术论文-天天文库。
1、本科毕业论文(设计)外文翻译外文题目:CompetitionforforeigndirectinvestmentwhencountriesArenotsureofsitevalues出处:InternationalReviewofEconomicsandFinance作者:KorayKiymazandLeonTaylor原文:CompetitionforforeigndirectinvestmentwhencountriesarenotsureofsitevaluesAbstractThefiscaltug-of-warbetweentwocountriestoplayhostt
2、oaforeign-ownedfirmislikeaNashgame.Supposethatthecountriesarenotsurehowmuchthefirmvaluesthesitesthattheyoffertoit.Alsosupposethatthecountriesfashiontheirexpectationofsitevaluebyassigningthesamelikelihoodtoeachvaluethattheydeempossible.Then,iftheyarequiteunsureaboutsitevalues,theywilloffersmal
3、lsubsidiestothefirm.Iftheyareprettysureaboutsitevalues,theywillofferlargesubsidies.Hereistheintuitionbehindtheresults:Whenacountryisunsureaboutthevalueofitssite,itisalsounsureifastingyofferwilldrivethefirmtoitsrival,soitmaytakethechanceandmakeastingyofferratherthanagenerousone.1.IntroductionG
4、overnmentsoftenvieforafootloosefirmbyofferingtaxcutsorsubsidies.Analysesofsuchacontestusuallyassumethatitsparticipantsknowfullwellitscircumstances.Inreality,itsparticipantsusuallyknowlittle.Forinstance,governmentofficialsmustguessathowmuchafirmvaluesasitewhentheyhavenocompetitivebidstoreferto
5、.Thatisusuallythecasewhengovernmentrecruitsindustrybecausethelackoflocallandbuyersiswhatspursthegovernmenttoseekbuyerselsewhere.Thegovernment’sguessaboutthevalueofasitewillaffectitsofferofincentivestoapotentialbuyer.Butifthegovernmentknowslittleaboutthevalueofitsownsite,thenitislikelytoknowli
6、ttleaboutthevalueofasiteelsewherethatthefirmcouldoccupy.Thegovernment’sguessaboutthatothersitewillalsoaffectitsofferofincentives.Howtheseguesseswillaffectitsofferisasubtlequestion,particularlywhenitmustcountertheofferofanothergovernmentthatguesses.Thequestioniscriticaltotheearlystageofasitese
7、arch,whenthefirmdecideswheretogo.Inthisstage,thefirmdisclosesstarkdetailsofitsprojecttoafewgovernmentsandsolicitstheirpreliminarybids.(HoodandYoung,1985,foundthatthisstrategywastypicalinthesearchesofautomotivefirmsforforeignsites.)Amongthegov
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