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Corporate Governance and the Eclectic Paradigm: The Investment Motives of Philips in Taiwan in the 1960s

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  • van der Putten, Frans-Paul

Abstract

Today Philips is one of the largest foreign investors in East Asia. The foundation for the company's East Asian position was laid by investment in Taiwan in the 1960s and early 1970s, at a time when this country and the rest of the region were still largely ignored by other European investors. This article investigates the motives for Philips to play a pioneering role among European firms in large-scale investing in Taiwan. The author uses the traditional method for direct investment analysis, known as Dunning's eclectic paradigm. He also addresses shortcomings in this method regarding individual company behavior, by adding a corporate governance analysis that is based on Freeman's stakeholder theory. The resulting analysis shows that, although locational factors constituted the main precondition to direct investment by Philips, the crucial reason Philips made its early investments in Taiwan was its chief executive officer's enthusiasm for this particular project.

Suggested Citation

  • van der Putten, Frans-Paul, 2004. "Corporate Governance and the Eclectic Paradigm: The Investment Motives of Philips in Taiwan in the 1960s," Enterprise & Society, Cambridge University Press, vol. 5(3), pages 490-526, September.
    • Handle: RePEc:cup:entsoc:v:5:y:2004:i:03:p:490-526_01
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    Cited by:

    1. Pierre Eng, 2017. "European Integration and Australian Manufacturing Industry: The Case of Philips Electronics, 1960s–1970s," Australian Economic History Review, Economic History Society of Australia and New Zealand, vol. 57(2), pages 217-238, July.
    2. Kenney, Martin & Breznitz, Dan & Murphree, Michael, 2013. "Coming back home after the sun rises: Returnee entrepreneurs and growth of high tech industries," Research Policy, Elsevier, vol. 42(2), pages 391-407.

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