Financial performance and survival of multinational corporations in China

• 成果类型: Article
• 署名作者: Pan, YG; Chi, PSK
• 署名单位: University of Oregon; Cornell University
• 刊物名称: STRATEGIC MANAGEMENT JOURNAL
• ISSN/ISSBN: 0143-2095
• DOI: 10.1002/(SICI)1097-0266(199904)20:4<359::AID-SMJ31>3.0.CO;2-9
• 发表日期: 1999
• 页码: 359-374
• 关键词: profitability; survival; Foreign investment; CHINA

摘要

This study investigates the impact of entry timing, mode of entry, market focus, and location advantages on the financial performance and survival of multinational corporations (MNCs) in China. Three major results were Sound. First, MNCs that entered China in an earlier year had a higher level of profit than those that entered in a later year. Second, equity joint ventures (EJVs) had a higher profit level than cooperative operations or wholly foreign-owned subsidiaries. Third, MNCs that utilized well the location advantages in China had a higher profit. We also found that EJVs were more likely to survive compared to cooperative operations, while wholly owned subsidiaries did not differ fi from EJVs. The findings are based on a 2-year study of about 1000 MNC operations in China. Copyright (C) 1999 John Wiley & Sons, Ltd.