해외직접투자 동기, 글로벌 조정 및 진입유형을 설명하는 새로운 이론: 한국기업의 실증분석을 위한 불균형 접근법

Abstract

Traditional theories of foreign direct investment(FDI) start with a premise that a firm should have a significant ownership advantage for going abroad. Recently, we interviewed Korean firms overseas subsidiaries and found some interesting cases of FDI that cannot be explained by the traditional approach. This article introduces a new theory, an imbalance approach, which deals with both advantages and disadvantages of a firms asset portfolio, and demonstrates that this new approach is useful in explaining the new FDI motivations of Korean firms. This approach is also useful in explaining other related issues such as global coordination and entry modes. An empirical analysis generally supports this new approach. This article provides a theoretical background and empirical findings for the role of foreign Subsidiary, not just as a profit center, but also as a strategic base for enhancing a firm I s global competitiveness.