다국적 기업의 지식재산과 해외직접투자에 관한 분석: 피 투자국 지식 재산권 보호 제도의 조절효과를 중심으로 = Multinational firms’ intellectual property (IP) and FDI: The moderating role of host country IP regimes

국문 초록 (Abstract)

근접-집중 상충관계(proximity-concentration tradeoff) 이론은 기업이 현지 생산의 위치 이점(location advantage) 을 추구함에 따라 해외직접투자(foreign direct investment)에 참여한다고 본다. 한편, 다국적 기업은 국내 기업에비해 더 많은 지식 자산을 보유하고 소유권 우위를 바탕으로 해외시장에 진출하는 동시에 해외에서의 기술 유출을 우려한다. 본 분석에서는 한국 기업과 해외 관계회사 데이터를 이용해 기업의 지식 자산 수준이 수출 대비해외직접투자 의사 결정에 영향을 미치는지, 그리고 이러한 관계가 피 투자국의 지식재산권 보호 정도로부터 영향을 받는지 분석하였다. 분석 결과 지식 자산이 많은 기업일수록 지식 유출을 우려해 수출 대비 해외직접투자를 꺼려하지만, 이러한 관계는 피 투자국의 지식재산권 보호가 강할수록 완화되는 것으로 나타났다. 본 연구 결과는 기업이 해외직접투자의 위치 이점을 검토함에 있어 진출하고자 하는 국가의 지식재산권 보호 수준을 중요한 요인으로 본다는 것을 시사한다. 또한, 본 연구는 지식 유출의 위험이 만연하므로, 생산에 이용되는 지식이보존되는 위치가 기업의 해외 진출 방식(수출 또는 해외직접투자) 결정에 영향을 미친다고 주장한 선행연구를지지한다.

다국어 초록 (Multilingual Abstract)

The proximity-concentration tradeoff theory suggests that firms choose to engage in foreign direct investment (FDI), in order to benefit from the location advantages of local production. Meanwhile, multinational firms with ownership advantages are concerned with knowledge leakage in the foreign markets. This study examines whether firm’s knowledge capital and strength of the intellectual property rights in the host country affect the firm’s decision on FDI, and this relationship is attenuated by the protection of the intellectual property rights in the host country. The results show that firms with higher patents are reluctant to invest in foreign markets, but this relationship is attenuated by the host country’s intellectual property strength. This study shows that innovative firms’ choice of FDI depends on the host countries’ IP regimes since these alter the location advantages of local production that are perceived by firms. Furthermore, this study broadly suggests that, due to knowledge leakage risks, the location of knowledge repositories required for production influences firms’ choice between foreign entry modes (exporting versus foreign direct investment), consistent with prior research.

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