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Analysis of Shared Ownership in Foreign Direct Investment

Research Project

Project/Area Number 19K01612
Research Category

Grant-in-Aid for Scientific Research (C)

Allocation TypeMulti-year Fund
Section一般
Review Section Basic Section 07040:Economic policy-related
Research InstitutionAoyama Gakuin University (2021-2023)
Chuo University (2019-2020)

Principal Investigator

Tanaka Ayumu  青山学院大学, 経済学部, 准教授 (20583967)

Project Period (FY) 2019-04-01 – 2024-03-31
Project Status Completed (Fiscal Year 2023)
Budget Amount *help
¥3,380,000 (Direct Cost: ¥2,600,000、Indirect Cost: ¥780,000)
Fiscal Year 2022: ¥780,000 (Direct Cost: ¥600,000、Indirect Cost: ¥180,000)
Fiscal Year 2021: ¥390,000 (Direct Cost: ¥300,000、Indirect Cost: ¥90,000)
Fiscal Year 2020: ¥650,000 (Direct Cost: ¥500,000、Indirect Cost: ¥150,000)
Fiscal Year 2019: ¥1,560,000 (Direct Cost: ¥1,200,000、Indirect Cost: ¥360,000)
Keywords外国直接投資 / 外資系企業 / 多国籍企業 / 共同出資 / 所有構造 / 海外子会社 / 生産性 / 企業の国際化 / 賃金格差 / 賃金プレミアム / 賃金
Outline of Research at the Start

企業の外国直接投資(FDI)において、共同出資の事例は数多い。製造業の日本企業の先進国向けの外国直接投資の約45%は共同出資である(Raff et al. 2009)。しかし、外国直接投資の基本的な理論であるHelpman et al. (2004) では、完全子会社を仮定して、企業の国際化(輸出・外国直接投資)と生産性の関係を分析している。そこで、本研究は、共同出資を含む形にHelpman et al. (2004) の理論を拡張し、日本企業の各種データを用いて、企業の国際化と生産性・賃金の関係について再検討を行う。それにより、企業の外国市場参入戦略について新しい知見を導き出し、企業の国際化を推進する上での政策課題を明らかにする。

Outline of Final Research Achievements

Greaney and Tanaka (JJIE 2021) and Tanaka (IEEP 2022) linked worker-level wage data and establishment-firm-level data to analyze the relationship between firm internationalization and worker wages, paying particular attention to the role of foreign firms. Ito and Tanaka (JWE 2022) considered a model that allows for various ownership structure and proposed testable hypotheses on the relationship between productivity and ownership share. They found that multinational ownership ratio was higher for multinational firms with high productivity than for those with low productivity, and that multinational firms with low productivity were more likely to choose joint ventures. Tanaka et al. (JAE 2023) employed a vignette survey experiment to analyze the determinants of preferences for acquisitions by foreign firms. They showed that the nationality of the foreign firm, reciprocity, and the economic conditions of the location of the firm being acquired were important factors.

Academic Significance and Societal Importance of the Research Achievements

外国直接投資の標準的な企業異質性モデル(Helpman et al., 2004)では、海外関連会社が完全所有されている場合を想定してきたのに対して、現実には部分所有の海外関連会社は数多く存在する。また、日本国内の企業の株式の一部が外国企業に所有されていることもよく知られている。国境を超えた企業の所有権の構造を解明することは、重要な課題であるが、標準的な理論では見落とされてきた。本研究プロジェクトは、国境を超えた企業の所有権構造の決定要因を探るとともに、所有構造が賃金に与える影響、国境を超えた企業の所有への人々の選好を探求した。

Report

(6 results)
  • 2023 Annual Research Report   Final Research Report ( PDF )
  • 2022 Research-status Report
  • 2021 Research-status Report
  • 2020 Research-status Report
  • 2019 Research-status Report
  • Research Products

    (8 results)

All 2023 2022 2021 2020 Other

All Int'l Joint Research (3 results) Journal Article (4 results) (of which Int'l Joint Research: 1 results,  Peer Reviewed: 4 results,  Open Access: 1 results) Presentation (1 results) (of which Invited: 1 results)

  • [Int'l Joint Research] ハワイ大学/西ミシガン大学(米国)

    • Related Report
      2021 Research-status Report
  • [Int'l Joint Research] ハワイ大学/西ミシガン大学(米国)

    • Related Report
      2020 Research-status Report
  • [Int'l Joint Research] Western Michigan University/University of Hawaii(米国)

    • Related Report
      2019 Research-status Report
  • [Journal Article] Individual Preferences Toward Inward Foreign Direct Investment: A Conjoint Survey Experiment2023

    • Author(s)
      Tanaka, Ayumu, Banri Ito, and Naoto Jinji
    • Journal Title

      Journal of Asian Economics

      Volume: 88 Pages: 101644-101644

    • DOI

      10.1016/j.asieco.2023.101644

    • Related Report
      2023 Annual Research Report
    • Peer Reviewed
  • [Journal Article] FDI, ownership structure, and productivity2022

    • Author(s)
      Ito Tadashi、Tanaka Ayumu
    • Journal Title

      Japan and the World Economy

      Volume: 64 Pages: 101158-101158

    • DOI

      10.1016/j.japwor.2022.101158

    • Related Report
      2022 Research-status Report
    • Peer Reviewed / Open Access
  • [Journal Article] Foreign Ownership, Exporting and Gender Wage Gaps: Evidence from Japanese Linked Employer-Employee Data2021

    • Author(s)
      Greaney Theresa M.、Tanaka Ayumu
    • Journal Title

      Journal of the Japanese and International Economies

      Volume: 61 Pages: 101151-101151

    • DOI

      10.1016/j.jjie.2021.101151

    • NAID

      210000172722

    • Related Report
      2021 Research-status Report
    • Peer Reviewed / Int'l Joint Research
  • [Journal Article] Higher wages in exporters and multinational firms evidence from linked employer-employee data2021

    • Author(s)
      Tanaka Ayumu
    • Journal Title

      International Economics and Economic Policy

      Volume: 19 Issue: 1 Pages: 51-78

    • DOI

      10.1007/s10368-021-00517-2

    • Related Report
      2021 Research-status Report
    • Peer Reviewed
  • [Presentation] FDI, Ownership Structure, and Productivity2020

    • Author(s)
      田中鮎夢
    • Organizer
      日本国際経済学会関東支部会
    • Related Report
      2020 Research-status Report
    • Invited

URL: 

Published: 2019-04-18   Modified: 2025-01-30  

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