Empirical Study Of The Shares Of Joint Ventures

The ways of internationalization include the joint-venture, annex, purchase , agent ,etc. Enterprises are influenced by various kinds of factors, such as culture, geography. The research of this text is based on the forefathers'works and data which the foreign businessman invested in our country's continent during 1979-2005 year. The text carries on research in the investment trader's way of the continent of our country. The main contents of this text are as follows:First,introducing the present international research current situation , including foreign direct investment(FDI) , culture, distance of culture ,etc. After summing up and summarizing this, we propose the studying structure.Second:at country's level, we have a research on the ways by which foreign trader invest. Such as the physical obstacle's impact on capital cost. In the course of studying, we simplify the physical obstacle as the geographical distance in order to scale, and get that it is the nearer of the countries'geographical distance, the greater foreign businessman's investment amount is. In the joint venture, the foreign businessman's proportion of joint-venture obeys normal distribution. We have researches on joint-venture's proportion and culture dimensionality, culture distance by Relation analysis method and conclude that they have no dependence . However, the distribution of different country's (PDI , IDV) show that the number value of developed country's ( PDI, IDV) is relatively small, and the investment of the developed country is more in quantity , so these countries are apt to gather to be one.Third:at industry level we have a research on the ways by which the foreign trader invest to our mainland. This selected works have fetched automobile and manufacture trades. In different trades, the trade characteristic is different, and the economic structure of investing in the countries and regions is different too. These characteristics include the intensive degree of the capital , scientific and technological content, profit rate ,etc. We analyse capital intensive degrees of high trade and enterprise among existing data, and find that joint-venture's proportion concentrates on about 50% mostly. And the nearer the geographical distance is, the higher the capital cost of the trade on industry is. There is no dependence in trade culture and ratio between investments. Earlier works have not define the industry culture, but they characterize it by some characters.