모방적 동형화에 따른 중국기업의 해외투자 소유권 선택: 모방 유형과 대상의 효과를 중심으로

Isomorphism and Ownership Choice of Chinese OFDI Firms: Focus on the Types and Targets of Imitation

Purpose - This study aimed to investigate the role of the isomorphism in foreign market entry strategies used by multinational enterprises (MNEs) of developing countries. Design/methodology/approach - This research is exercised on the three variables of liquidity, i.e. the frequency effect, the industry effect and the local effect. This research used a Binomial Logistic Regression to measure the impact of isomorphism for the entry strategy. Findings - The results showed that the frequency effect and the industrial effect influenced the selection of firm’s entry strategy at a significant level. Research implications or Originality - Isomorphism was shown in certain entry methods of leading investment firms for MNEs in developing countries. However, firms with ample available resources, such as state-owned and listed firms, preferred having a wholly owned subsidiary over the entry method of existing firms. The firms chosen for analysis consisted of those in China and the analysis period was from 2000 to 2015. We collected 2,370 pieces of OFDI data by firm from the Zephyr database, the investment country economic indicators of the Chinn-Ito Index and the exchange rate and inflation data of the World Development Indicators.