Foreign Direct Investment, Technological Capabilities and Performance in the Chinese Pharmaceutical Industry
AbstractDoes a firm engage in a joint venture with a technologically advanced foreign partner to complement or substitute investments in its own technological capabilities? We address this question in a comparative study of 222 Chinese pharmaceutical manufacturers and Sino-foreign joint ventures. A combination of ANOVA and OLS regression results provide evidence that firms with joint ventures invest more in organizational resources associated with technological capabilities, are higher performing by a number of absolute and relative measures, and have different correlates of high performance than firms without joint ventures. While the study cannot address the question of direction of causality, it does provide support for the view that joint ventures and investments in organizational resources are complementary, or at least correlated, rather than substitution strategies.
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Bibliographic InfoPaper provided by Research Institute for Economics & Business Administration, Kobe University in its series Discussion Paper Series with number 86.
Length: 25 pages
Date of creation: Oct 1997
Date of revision:
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Pharmaceutical industry; Technology; China; Foreign investments;
Find related papers by JEL classification:
- L65 - Industrial Organization - - Industry Studies: Manufacturing - - - Chemicals; Rubber; Drugs; Biotechnology
- O32 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Management of Technological Innovation and R&D
- O31 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
- F21 - International Economics - - International Factor Movements and International Business - - - International Investment; Long-Term Capital Movements
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