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Article: Capital or knowhow: The role of foreign multinationals in Sino-foreign joint ventures

TitleCapital or knowhow: The role of foreign multinationals in Sino-foreign joint ventures
Authors
KeywordsCapital
Equity joint ventures
Foreign direct investment
Knowhow
Multinational firms
Issue Date2010
PublisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/chieco
Citation
China Economic Review, 2010, v. 21 n. 4, p. 629-638 How to Cite?
AbstractChina's success in attracting foreign direct investment has been cast in doubt as mainly a transfer of capital, not knowhow, because its financial system is incapable of allocating domestic savings and hard-earned foreign reserves to domestic enterprises. To shed light on this debate, we examine the determinants of equity sharing in Sino-foreign joint ventures with the premise that the roles of foreign direct investment (in transferring capital or knowhow) should be reflected in equity sharing between multinational firms and local firms. Our empirical analysis offers strong evidence for foreign direct investment as a transfer of knowhow, but limited support for foreign direct investment as a transfer of capital, which points to the need for further reform in China's financial system. © 2010 Elsevier Inc.
Persistent Identifierhttp://hdl.handle.net/10722/145959
ISSN
2015 Impact Factor: 1.116
2015 SCImago Journal Rankings: 0.997
ISI Accession Number ID
References

 

DC FieldValueLanguage
dc.contributor.authorBai, CEen_HK
dc.contributor.authorLu, Jen_HK
dc.contributor.authorTao, Zen_HK
dc.date.accessioned2012-03-27T09:04:07Z-
dc.date.available2012-03-27T09:04:07Z-
dc.date.issued2010en_HK
dc.identifier.citationChina Economic Review, 2010, v. 21 n. 4, p. 629-638en_HK
dc.identifier.issn1043-951Xen_HK
dc.identifier.urihttp://hdl.handle.net/10722/145959-
dc.description.abstractChina's success in attracting foreign direct investment has been cast in doubt as mainly a transfer of capital, not knowhow, because its financial system is incapable of allocating domestic savings and hard-earned foreign reserves to domestic enterprises. To shed light on this debate, we examine the determinants of equity sharing in Sino-foreign joint ventures with the premise that the roles of foreign direct investment (in transferring capital or knowhow) should be reflected in equity sharing between multinational firms and local firms. Our empirical analysis offers strong evidence for foreign direct investment as a transfer of knowhow, but limited support for foreign direct investment as a transfer of capital, which points to the need for further reform in China's financial system. © 2010 Elsevier Inc.en_HK
dc.languageengen_US
dc.publisherElsevier BV. The Journal's web site is located at http://www.elsevier.com/locate/chiecoen_HK
dc.relation.ispartofChina Economic Reviewen_HK
dc.subjectCapitalen_HK
dc.subjectEquity joint venturesen_HK
dc.subjectForeign direct investmenten_HK
dc.subjectKnowhowen_HK
dc.subjectMultinational firmsen_HK
dc.titleCapital or knowhow: The role of foreign multinationals in Sino-foreign joint venturesen_HK
dc.typeArticleen_HK
dc.identifier.emailTao, Z: ztao@hku.hken_HK
dc.identifier.authorityTao, Z=rp01097en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1016/j.chieco.2010.06.007en_HK
dc.identifier.scopuseid_2-s2.0-78049305566en_HK
dc.identifier.hkuros198896en_US
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-78049305566&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume21en_HK
dc.identifier.issue4en_HK
dc.identifier.spage629en_HK
dc.identifier.epage638en_HK
dc.identifier.isiWOS:000283913900012-
dc.publisher.placeNetherlandsen_HK
dc.identifier.scopusauthoridBai, CE=13805990500en_HK
dc.identifier.scopusauthoridLu, J=13805758400en_HK
dc.identifier.scopusauthoridTao, Z=7201884505en_HK
dc.identifier.citeulike7475965-

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