후속투자시 한국기업의 대중 투자행태 변화에 관한 연구 = 입지결정요인 변화를 중심으로

다국어 초록 (Multilingual Abstract)

This paper examines if there are any dynamic changes in the behaviourial characteristics of Korean firms conducting re-investments in China. The focus of study is to identify and measure the relative impact of several major independent variables(including, market, cost, policy, socio-cultural factors) on the location selection decisions made by Korean firms in their initial and subsequent investments in China. The 235 Korean-invested firms in China(as at the end of 1995) were selected as a sample base to perform multivariate regressions using the Tobit and Poisson models. The analysis shows that, of the major variables, the socio-cultural factor represented by the ratio of Korean-Chinese(Chosunjok) population in each region had the most significant impact on the increase in the number of FDI by region at the initial stage of conducting FDI, with less stronger impact exhibited by market and policy factors. At the subsequent stage of conducting re-investments, however, the market factors (proxied by per capita GDP) and the preferential policy measures(represented by) turned out to have impinged significantly on the locational choice made by Korean firms, with the impact of the Chosunjok variable becoming less significant in the re-investments. Average wage was found to be negatively related to the cases as well as amount of re-investments by region. Such an outcome is in line with the general observation that the regional distribution of Korean FDI in China is diversifying from the pattern biased towards Northeastern part of China (including Jilin, and Liaoning) to that favorable to the Huabei region (including Tianjin and Shandong) and the Yangzi Delta area(including Shanghai, Jiangsu, and Zhejiang)