외국인 직접투자 소유지분 결정 요인 분석

Abstract

This study investigated determinants of choice of ownership of foreign direct investment in Korea as the end of 1996. According to the results of this study, foreign firms located in the high individualistic countries have a greater tendency to enter Korean market through wholly-owned subsidiary, and regulation of Korean government on foreign ownership led foreign firms to take joint venture entry. Moreover foreign firms enter Korean market through joint venture if size of investment is relatively larger in order to share resources with local partners and to avoid risks. However industry- as well as firm-specific factors do affect foreign firms" ownership choice.