企業集團投資母國與地主國區位之研究

A Study of Enterprise Groups' Investing Locational Choices between Home Country and Host Country

本文主要目的在探討企業特性與投資區位條件對臺灣企業集團生產投資區位之影響，以臺灣、環渤海地區、長江三角洲地區、珠江三角洲地區為研究場域，並以多項羅吉特模型進行實證分析，其中，企業特性變數為產業類別、投資經驗、投資時間等三項因子，而投資區為條件則有勞工薪資、市場規模、區域創新強度及外資投資強度等因子。實證結果發現，代表經濟發展階段的投資時間變項確實會影響臺灣企業集團的區位選擇行為，產業的類別不同其區位選擇也會不同，先前的投資經驗雖然影響區位選擇，但是基於兩岸相近且相似的市場特性，因此沒有區域上的差別；同時投資區位條件亦會影響區位選擇行為，但是臺灣企業集團在考量母國與地主國的勞工薪資、市場規模、區域創新強度及外資投資強度等區位條件上仍然是有部分差異的。另外過去較少直接連結廠商生產面的區域創新能力亦明顯影響臺灣企業集團的區位選擇，因此本文認為區域創新活動對於跨國企業在地化取得知識及技術亦具有相當重要的意義。 According to enterprises’ characteristics and regional investment conditions, this paper analyzes the impacts of investing location choices in Taiwan, Bohai Rim, Yangtze River Delta and Pearl River Delta for Taiwanese enterprise groups by employing Multinomial Logit model. There are the factors used to represent enterprise traits including industrial type, investment experience, and investment time horizon. The factors used to characterize the regional investment conditions are labor wage rate, market scale, industrialization level, regional innovation capacity, and foreign investment intensity. The empirical results indicate that industrial type and investment time horizon are the major impacts of investing location choices. In contrary, investment experience has minor effects of investing location choices because Taiwan and Mainland China have similar market traits. Furthermore, differences between regional investment conditions in Taiwan and Mainland China also affect investing location choices. We can find divergences between Taiwan and Mainland China concerning with the labor wages, market scale, level of industrialization, regional innovation ability, and the intensity of foreign investment. Especially the results show that there is a strong linkage between regional innovation capacity and investing location choices, even though regional innovation ability used not to be connected to the production of an enterprise. This implies that regional innovation capacity plays a very important role of investing location choices for multinational enterprises groups.

According to enterprises’ characteristics and regional investment conditions, this paper analyzes the impacts of investing location choices in Taiwan, Bohai Rim, Yangtze River Delta and Pearl River Delta for Taiwanese enterprise groups by employing Multinomial Logit model. There are the factors used to represent enterprise traits including industrial type, investment experience, and investment time horizon. The factors used to characterize the regional investment conditions are labor wage rate, market scale, industrialization level, regional innovation capacity, and foreign investment intensity. The empirical results indicate that industrial type and investment time horizon are the major impacts of investing location choices. In contrary, investment experience has minor effects of investing location choices because Taiwan and Mainland China have similar market traits. Furthermore, differences between regional investment conditions in Taiwan and Mainland China also affect investing location choices. We can find divergences between Taiwan and Mainland China concerning with the labor wages, market scale, level of industrialization, regional innovation ability, and the intensity of foreign investment. Especially the results show that there is a strong linkage between regional innovation capacity and investing location choices, even though regional innovation ability used not to be connected to the production of an enterprise. This implies that regional innovation capacity plays a very important role of investing location choices for multinational enterprises groups.