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1、本科毕业论文外文翻译外文题目：HistoricandEmergentTrendsinChineseOutwardDirectInvestment出处：ManagementInternationalReview,MIR48(2008)6作者：PeterJ.Buckley,AdamR,Cross,HuiXin,HinrichVoss原文：HistoricandEmergentTrendsinChineseOutwardDirectInvestmentEntryModeLiteratureontheinternationalisationofdevelopingcount
2、ryMNEssuggeststhatminorityIJVsarethepreferredmodeofmarketentry(Wells1983,Yeung1994).Onereasonisthatsuchfirmsseldompossessthelevelofproprietarytechnologyandfirm-specificknow-howtonecessitateinternalisationviamajorityorfullownership(Buckley/Casson1976,Dunning1993).Thisisalsoevidentintheearl
3、yyearsofChineseODIdevelopment:projectlevelSAFEdatarevealthat,intheearly1990s,around70percentofoverseasprojectsofChinesefirmstooktheIJVform(seeTable5).Zhan(1995)alsoreportsthatChinesefirmstendedtooptformajorityequityshareholdingsinoverseasprojects,typicallyintherangeof40to70percentequityp
4、articipation,especiallyinnaturalresource-orientedandmanufacturing-relatedprojects.Anumberofexplanationscanbeenvisaged.Fromagovernmentalperspective,theformalinvestmentapprovalprocessgenerallyrequiredChineseMNEstoadopttheIJVentrymode.TheChineseauthoritieshadbecomefamiliarwiththeeconomicg
5、ainsassociatedwiththepromotionofinwardFDIintheformofIJVs,thepromotionofwhichwasacornerstoneofChina’s‘OpenDoor’policy.TheJVformwasseenasavehicleforpromotingtheinflowofforeign-ownedtechnology,managementknow-howandotherskillstoChina.Theauthoritieswerealsonowadeptandcomfortablewithatadminis
6、teringforeigninvestedenterprisesinChina.ItislikelythatequivalentadvantagesweresoughtwhenChineseenterprisesinvested9abroad.Familiarcostandrisk-minimisingfeaturesofIJVswillalsohavebeenimportanttotheinvestmentapprovalagencies(Zhan1995,Taylor2002,Wang2002).Fromanenterpriseperspective,ineffi
7、cientdomesticcapitalmarketsandbudgetconstraintsmeantthatmanyChineseenterprises,includingstate-ownedones,oftenfounditdifficulttoobtainsufficientfundstopurchaseoverseasassetsoutright,compellingthemtooptfortheIJValternative.TheJVformalsoallowedChineseMNEstoexerciseadegreeofcontroloverloca
