An Empirical Study On The Strategy Selection Of Beijing Technology-souring Outward Direct Investment

Since the1980s, with the development of economic globalization, the technology-sourcing Outward Direct Investment (ODI) is an active strategic decision taken by the developing countries to acquire advanced technology, also an effective way for enterprises docking multinational R&D resources to overcome their own "bottleneck" and enhance the technical level. Implementation of correct and reasonable investment strategy, investment activities is possible to develop a long-term healthy and active, enterprises can receive technical spillover from investment activities, and enhance their skills.This article is to study the following three aspects of technology-sourcing ODI strategy selection:First, the paper researches on the entry mode selection. Firstly, comparing the ways and efficiency to achieve technology acquisition of different entry modes, the article analysis theoretically the host country and enterprises own factors. We used the multivariate logistic model, to analyze the impact of factors on the entry mode of technology-souring ODI. Empirical results are:if the technology gap between home and host enterprises is large, the investment entry mode selection order is the wholly-owned greenfield, M&A and the joint ventures greenfield; if enterprises’ scale is large, R&D level is strong, institutional constraint is strict or host country risk is high, the entry mode selection order is M&A, joint ventures greenfield and wholly-owned greenfield; if international experience is rich or cultural distance is large, the entry mode selection order is wholly-owned greenfield, joint ventures greenfield and M&A.Second, the paper focuses on the location selection. On the basis of existing research on technology-sourcing ODI location selection influencing factors, we build the index system of Beijing enterprises Technology Sourcing ODI location advantages evaluation by the basic framework of analytic hierarchy model, and evaluate the candidate investment locations. The results show that the host country technical factors are the most significant factors affecting the host location advantages, followed by institutional and economic factors, cultural factors affecting the smallest. At the same time, according to the location advantages value of the host countries, the United States has the most obvious advantages; followed by Japan, South Korea and Singapore and other Asian countries and newly industrialized countries; finally are developed countries in Europe. Third, the paper studies on Industry Selection. Based on the analysis on the current situation of Beijing ODI industry selection and domestic and international theory,13industry-specific ODI industrial efficiency of Beijing was calculated. From2003-2011the average annual13industries ODI role of industry TFP was2.2%for which the technical effect (from the advanced management ideas, experience) was0.8%, technical progress (itself derived from the acquisition of advanced technology) effect was1.5%. The Technology-Sourcing ODI has a promotion on the industry technology progress.