How do Local Firms Respond to Foreign Direct Investment through International R&D?
Academy of Management Proceedings(2018)
摘要
This study unravels the mechanisms through which horizontal FDI affects the strategic responses of local firms. We differentiate an intangibility gap (difference in intangible asset levels) from a productivity gap (difference in productivity levels) and contrast their effects. We argue that productivity gap has a U-shaped effect, whereas intangibility gap has an inverted U-shaped influence on the internal R&D intensity of local firms. Moreover, we introduce the export intensity of local firms as a boundary condition under which the proposed relationships become attenuated. Using a sample of manufacturing firms in China, we find evidence that supports most of our predictions.
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关键词
foreign direct investment,local firms
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