Mt s l thuyt v FDI

Cc l thuyt v u t quc t tm cch l gii xem khi no nn tin hnh FDI. gip vic tm hiu l thuyt v FDI c th da vo cc cu tr li cho cc cu hitruyn thng : 5W v 1H who Ai l nh u t? Mt doanh nghip mi hay mt MNE c thnh lp?insider or outsider? What Loi hnh u t g? Greenfield hay brownfield? mua li v sp nhp? ut ln u hay u t b sung? Why Ti sao u t ra nc ngoi? Doanh nghip mun thu c n h i u l i nhun hn bng cch tng doanh thu hoc gim chi ph. Where Tin hnh u t u? La chn a im u t la chn ny b nhhng bi cc yu t kinh t, x hi/vn ha v chnh tr. When Khi no doanh nghip chn cch u t ra nc ngoi? Thi im quytnh xm nhp th trng nc ngoi b nh hng bi tui ca sn phm, tnh aquc gia ca doanh nghip. How Doanh nghip u t ra nc ngoi nh th no? Cch no c la chn xm nhp vo th trng nc ngoi? La chn bao gm xut khu, cp license,franchising, FDI. a. Cc hc thuyt v m L thuyt v li ch ca u t nc ngoi ca Mac Dougall :Vi gi thit:- C 2 quc gia, 1 nc pht trin v 1 nc ang pht trin- Ch c hot ng u t ca hai quc gia trn, khng c s tham gia ca nc th3- Sn lng cn bin ca hot ng u t gim dn khi vn u t tng b. Cc hc thuyt vi m Nu nh cc hc thuyt v m ng trn gc quc gia xem xt l thuyt FDIth cc hc thuyt vi m li ng trn gc cc doanh nghip hoc cc ngnhkinh doanh. b1. Hc thuyt v li th c quyn (Stephen Hymer - M) Khi u t ra nc ngoi, ch u t c mt s bt li nh: khong cch a llm tng chi ph vn chuyn cc ngun lc (chuyn giao cng ngh), thiu hiu bit v mi trng xa l lm tng chi ph thng tin, thit lp mi quan h khchhng mi v h thng cung cp mi cng mt nhiu chi ph so vi cc cng ty bn a . T u y v y h v n n n t i n h n h F D I k h i h c n h n g l i t h c q u y n (monogoly rights), h s gim c chi ph kinh doanh v tng doanh thu so vicc cng ty bn a. Cc li th c quyn c th l cng ngh (tech innovation)hay nhn hiu. V d ni n Cocacola l ngi ta ngh ngay n nc ung ga cmi qu hay nhn hiu Heineken ni ting vi nhng mu qung co rt hp dn( Thu S c mt cn hm b mt). b3. Hc thuyt ni b ho (Internalization)

Theo hc thuyt ny, FDI tng khi giao dch bn trong c n g t y ( I n t e r n a l Transaction) tt hn giao dch bn ngoi cng ty (Market Transaction), IT tt hnMT khi th trng khng hon ho: khng hon ho t nhin (khong cch giacc quc gia lm tng chi ph vn tI), khng hon ho mang tnh c cu (ro cnthng mi nh cc tiu chun v sn phm, v mI trng; cc yu cu lin quann quyn s hu tr tu (l mt sn phm v hnh mang tnh thng tin nn d bchia s, kh bo h v d b nh cp), cng ngh (cI khng tn ti nh mtthc th, khng c gi, khng chng minh c, qu khi n mi..). Khi th trngkhng hon ho nh vy, ngi ta phI to ra th trng bng cch to ra InternalMarket, s dng ti sn trong ni b cng ty m con, con con. V d, nu cvn lin quan n vic mua cc sn phm du la trn th trng thi mt doanhnghip c th quyt nh mua mt nh my lc du. Li ch ca vic ni b ho ltrnh c tr v thi gian, vic mc c khi mua bn v tnh trng thiu thnngi mua. V d, mt doanh nghip thp c th phi i mt vi tnh trng thiu n g u y n l i u c u n g c p v c h i p h g i a o d c h c a o k h i phi mua qung st t ncngoi, c bit khi doanh nghip ny phi m u a h n g m t c h u l c k h c . T u y nhin, khi doanh nghip ny mua li mt cng ty khai m nc ngoi, tc l tinhnh vic ni b ho bao gm c vic mua lun qung st v chi ph vn chuyn,n s loi b c tnh trng thiu thn nguyn liu. Ni b ho phI c nhng li c h l n h n c h p h p h t s i n h k h i t h n h l p m n g l i c n g t y m c o n t h m i c s dng. Tuy nhin l thuyt ny khng gii thch li ch ca ni b ho l g(l li th c quyn), n rt chung chung, khng a ra c cc bng chng cth v rt kh kim chng. b4. L thuyt chit trung Eclectic (Dunning - i hc Needs Anh hc gi ni ting nht v FDI trn th gii) Hc thuyt ny k tha tt c nhng u im ca cc hc thuyt khc v FDI. Mt cng ty c li th tin hnh FDI khi c OLI Ownership Advantages, Location Advantage (hay li th ring ca t nc country specific advantages- CSA) ,Internalization Incentives M t m h n h c x y d n g k h c n g p h u c a D u n n i n g ( 1977, 1 9 8 0 , 1 9 8 1 a , 1981b, 1986, 1988a, 1988b, 1993), tng hp cc yu t chnh ca nhiu cng trnh khc nhau l gii v FDI, v xut rng c 3 iu kin cn thit mt doanh nghip c ng c tin hnh u t trc tip. Cch tip cn ny c bit n di tn m hnh OLI: li th v s hu, li th a im v li th ni b ho. Li th v s hu ca mt doanh nghip c th l mt sn phm hoc mt qui trnh sn xut m c u th hn hn cc doanh nghip khc hoc cc doanh nghip khc khng th tip cn, v d nh bng sng ch hoc k hoch hnh ng (blueprint). cng c th l mt s ti sn v hnh hoc cc kh nng c bit nh cng ngh v thng tin, k nng qun l, marketing, h thng t chc v kh nng tip cncc th trng hng tiu dng cui cng hoc cc hng ho trung gian hoc ngun nguyn liu th, hoc kh nng tip cn ngun vn vi chi ph thp. D tn ti di hnh thc no, li th v quyn s hu em li quyn lc nht nh trn th trng hoc li th v chi ph doanh nghip b li nhng bt li khi kinh doanh nc ngoi. Mc d cc li th v quyn s hu mang c trng ring cami doanh nghip, chng c lin h mt thit n cc nng lc v cng ngh vsng to v n trnh pht trin kinh t ca cc nc ch u t.

Thm vo , th trng nc ngoi phi c li th a im g i p c c d o a n h nghip c li khi tin hnh sn xut nc ngoi thay v sn xut nc mnh ri xut khu sang th trng nc ngoi. Cc li th v a im bao gm khng ch cc yu t v ngun lc, m cn c c cc yu t kinh t v x hi, nh dung lng v c cu th trng , kh nng tng trng ca th trng v trnh pht trin, mi trng vn ho, php lut, chnh tr v th ch, v cc qui nh v cc chnh sch ca chnh ph. Cui cng, MNE phi c li th ni b ho. Nu mt doanh nghip s hu mt sn phm hoc mt qui trnh sn xut v nu vic sn xut sn phm nc ngoi c li hn xut khu hay cho thu, th cng cha chc doanh nghip xy dng mt chi nhnh nc ngoi. Mt trong nhng cch la chn khc l cp license cho mt doanh nghip nc ngoi h sn xut sn phm hoc s dng qui trnh sn xut. Tuy nhin, do kh c th tin hnh trao i cc ti sn v hnh ny trn th trng, sn phm hoc quy trnh sn xut s c khai thc trong ni b doanh nghip hn l em trao i trn th trng. y chnh l mt li th ni b ho. C c h l g i i c a m h n h O L I r t d h i u . T i b t c t h i i m n o , c c d o a n h nghip ca mt nc, so vi cc doanh nghip ca cc nc khc, cng nm gi nhiu cc li th v quyn s hu, th h cng c ng c mnh s dng chng trong ni b hn l ph bin ra bn ngoi, h cng tm c nhiu li ch khi s dng chng mt nc khc th h cng c ng c pht trin sn xut nc n g o i . N h n g t h a y i v v t r c a d n g F D I v o h o c r a c a m t n c c t h c gii thch bi nhng thay i v li th a im so vi cc nc khc, vnhng thay i trong chng mc m doanh nghip thy cc ti sn ny nu c s dng trong ni b s tt hn so vi khi em bn trn th trng (Dunning 1993). Cho n nay m hnh OLI ca Dunning c th coi l cch l gii y v nhiu tham vng nht v FDI. b5. L thuyt v vng i quc t ca sn phm (International product life cycleIPLC) ca Raymond Vernon L thuyt ny c S. Hirsch a ra trc tin v sau c R. V e r n o n p h t trin mt cch c h thng t nm 1966.L thuyt ny l gii c u t quc t ln thng mi quc t, coi u t quc t l mt giai on t nhin trong vng i sn phm. L thuyt ny cho thy vai trca cc pht minh, sng ch trong thng mi v u t quc t bng cch phntch qu trnh quc t ho sn xut theo cc giai on ni tip nhau. u im ca lthuyt ny l a vo c nhiu yu t cho php l gii s thay i theo ngnhhoc vic dch chuyn dn cc hot ng cng nghip ca cc nc tin phong vcng ngh, trc tin l n cc nc "bt chc sm", sau l n cc nc "btchc mun".Hai tng lm cn c xut pht ca l thuyt ny rt n gin, l:Mi sn phm c mt vng i, t khi xut hin cho n khi b o thi; vng iny di hay ngn tu vo tng sn phm.Cc nc cng nghip pht trin thng nm gi nhng cng ngh c quyn doh khng ch khu nghin cu v trin khai v do c li th v quy m.Theo l thuyt ny, ban u phn ln cc sn phm mi c sn xut ti nc pht minh ra n v c xut khu i cc nc khc. Nhng khi sn phm mi c chp nhn rng ri trn th trng th gii th sn xut bt u c tin hnh cc nc khc. Kt qu rt c th l sn phm sau

 s c xut khu tr lin c p h t m i n h r a n . C t h v n g i q u c t c a m t s n p h m g m 3 g i a i on : + Giai on 1 : Sn phm mi xut hin cn thng tin phn hi nhanh xem ct h o m n n h u c u k h c h h n g k h n g v c b n t r o n g n c c n g l t i thiu ho chi ph. Xut khu sn phm giai on ny khng ng k. Ngi tiudng ch trng n cht lng v tin cy hn l gi bn sn phm. Qui trnh sn xut ch yu l sn xut nh. + Giai on 2 : Sn phm chn mui, nhu cu tng, xut khu tng mnh, cc ith cnh tranh trong v ngoi nc xut hin v thy c th kim c nhiu linhun. Nhng dn dn nhu cu trong nc gim, ch c nhu cu nc ngoi tiptc tng. Xut khu nhiu (t n nh cao) v cc nh my nc ngoi bt u c x y d n g ( s n x u t m r n g t h n g q u a F D I ) . G i t r t h n h y u t q u a n trng trong quyt nh ca ngi tiu dng. + Giai on 3 : Sn phm c tiu chun ha , th trng n nh, hng ha tr nn thng dng, cc doanh nghip chu p lc phi gim chi ph cng nhiu cng tt tng li nhun hoc gim gi tng nng lc cnh tranh. Cnh tranh ngycng khc lit, cc th trng trong nc tr tr, cn s dng lao ng r. Sn xut t i p t c c chuyn sang cc nc khc c lao ng r hn thng qua F D I . Nhiu nc xut khu sn phm trong cc giai on trc (trong c nc pht minh ra sn phm) nay tr thnh nc ch u t v phi nhp khu chnh sn phm v sn phm sn xut trong nc khng cn cnh tranh c v gi bntrn th trng quc t. Cc nc ny nn tp trung u t cho nhng pht minhmi. Cc hn ch ca l thuyt ny: Cc gi thuyt m l thuyt ny a ra cn c ch yu vo tnh hnh thc t ca u t t r c t i p c a M r a n c n g o i t r o n g n h n g n m 1 9 5 0 - 1 9 6 0 . N h n g n khin tc gi khng th l gii c u t ca Chu u sang M. Cn v bn chtca cc pht minh, R. Vernon khng phn bit c cc hnh thc pht minh khcnhau. Tc gi ch xem xt trng hp duy nht l nhng thay i v cng nghd i n r a n g t h i c i v i c i m c a s n p h m v q u i t r n h s n x u t . J . M . Finger (1975) phn bit hai loi pht minh khc nhau l pht minh lin quan n c i m s n p h m v p h t m i n h l i n q u a n n q u i t r n h s n x u t v c h r a rng xut khu ca M b nh hng nhiu ca s khc bit v sn phm ch tchu nh hng ca nhng tin b trong qui trnh sn xut. V thi gian ca vng i , k h n g n h t t h i t c c g i a i o n k h c n h a u p h i d i n r a t u n t t r o n g m t khong thi gian qu ngn. Vng i sn phm phi di m bo s chuyngiao thc s sn xut trn phm vi quc t.Trong cc nghin cu sau, R. Vernon khng nh rng thi gian gia khi btu sn xut mt sn phm mi M n khi bt u sn xut nc ngoi lintc c rt ngn trong giai on 1945-1975. Ngy nay, khong thi gian ny cam t n a c c s n p h m t i n h c l c h a n 5 n m ; t r o n g n g n h h o c h t k h o n g thi gian ny ca mt na cc sn phm l cha n 10 nm. Vic gim thi gianca vng i s e do cc v tr c c v

cc yu cu v tiu dng v lmtrm trng hn s khng n nh. L thuyt ca Vernon gp nhiu kh khn trongvic gii thch s di chuyn ca mt s hot ng sn xut nh sn xut cc thit btheo chu k ph thuc vo nhu cu ca cc ngnh sn xut hng tiu dng clin quan ch khng ph thuc trc tip vo dung lng th trng ny (A. Cotta, 1970). Quan st ny cho thy mt hn ch quan trng trt t qui trnh ca cc giaion trong vng i sn phm.