1、International Business国际商务（全英）K ey DefinitionsChapter Six: Foreign Direct InvestmentChapter Outline:I. IntroductionII. Foreign Direct Investment in the World EconomyIII. Theories of Foreign Direct InvestmentIV. Benefits and Costs of FDIV. Government Policy Instruments and FDIVI. Implications for Man
2、agersKey Definition No. 1当一个企业在国外直接对设施点投资以生产和/或营销一种产品时，则对外直接投资发生了。Foreign direct investment occurs when a firm invests directly in facilities to produce and /or market aproduct in a foreign country.Key Definition No. 2（1）对外直接投资流量是指在给定的某一时期（通常为一年）所发生的对外直接投资的数量。对外直接投资存量是指在某一时间所拥有的外国资产的累计价值总和。The flow
3、of FDI refers to the amount of FDI refers to the amount of FDI undertaken over a giventime period (normally a year). The stock of FDI refers of the total accumulated value of foreign-owned assets at a given time.(2)我们还要谈到对外直接投资的流出量，意思是从一个国家向外流出的对外直接投资量，以及对外直接投资的流入量，意思是向一个国家流入的对外直接投资量。We also talk of
4、 outflows of FDI, meaning the flow of FDI out of a country, and inflows of FDI,meaning the flow of FDI into a country.Key Definition No. 3直接对外投资增长得更快是有其原因的。第一，企业仍然担心会面临保护主义的压力。第二，许多发展中国家的政治和经济的变化推动直接对外投资的增长。第三，世界经济的全球化对直接对外投资的数量有着积极地影响。FDI has grown more rapidly for several reasons. First, business
5、firms still fear protectionist pressure.Second, the increase in FDI is being driven by the political and economic changes in many of theworlds developing nations. Third, the globalization of the world economy is also having a positiveimpact on the volume of FDI.Key Definition No. 4出口包括在本国生产产品，然后将它们运
6、到接收国去销售。许可证包括为外国实体（许可证接受方）提供生产和销售该企业产品的权利，并收取其销售的每一单位产品的许可费作为回报。Exporting involves producing goods at home and then shipping them to the receiving country for sale.Licensing involves granting a foreign entity (the licensee) the right to produce and sell the firmsproduct in return for a royalty fee o
7、n every unit sold.Key Definition No. 5出口的局限性包括运输成本和贸易壁垒。许可证的局限性包括（1）把技术诀窍送给了潜在的外国竞争者（2）无法控制在国外的生产、营销和战略（3）失去竞争优势。The limitations of exporting include transportation costs and trade barriers. The limitations oflicensing include (1) giving away valuable technological know-how to a potential foreign co
8、mpetitor(2) not having the tight control over manufacturing, marketing and strategy in a foreign country (3)loosing competitive advantage.Key Definition No. 6垄断寡头是由有限数量的大企业所组成的一个行业。这种行业竞争的重要特点是主要企业间的相互依存性：一个企业的行为对其主要竞争者有直接影响，迫使其用同样的方式来回应。An oligopoly is an industry composed of a limited number of la
9、rge firms. A critical competitivefeature of such industries is interdependence of the major players: What one company does can havean immediate effect on the other firms, forcing them to take similar actions.Key Definition No. 7Multipoint competition arises when two or more enterprises encounter eac
10、h other in different regionalmarkets, national markets, or industries. If a rival does not gain a commanding position in one market,it will use the profits generated there to subsidize competitive attacks in other markets.当两个或更多的企业在不同地区、不同国家的市场货不同行业相互遭遇是就会出现多点竞争。如果一个竞争对手不能在一个市场获得统治地位，它将使用在这个市场获得的利润去
11、补贴在其他市场的竞争行为。Key Definition No. 8所谓地域特有优势，邓宁指的是利用与特定外国地点相联系的资源禀赋或资产而产生的优势，企业发现值得把这些资产与自己独特的资产结合起来。By location-specific advantages, Dunning means the advantages that arise from utilizing resourceendowments or assets that are tied to a particular foreign location and that a firm finds valuable tocombi
12、ne with its own unique assets.Key Definition No. 9对东道国来说，直接对外投资流入的主要好处有资源转移效应、就业效应、国际收支效应以及竞争和经济增长效应。与东道国有关的FDI的三个主要成本是在东道国国内竞争可能产生不利影响，对国际收支的不利影响，有可能丧失国家主权和自治权。The main benefits of inward FDI for a host country arise from resource-transfer effects, employmenteffects, balance-of-payment effects and
13、effects on competition and economic growth. Three costs ofFDI that concern host countries are possible adverse effects on competition within the host nation,adverse effects on the balance of payments, and the perceived loss of national sovereignty andautonomy.Key Definition No. 10FDI给投资国带来三个利益：国际收支经
14、常账户受益,就业效应，在外国市场获得宝贵技术。投资国的成本是资本流出比流入多，就业问题，替代了直接出口。The benefits of FDI to home country arises from three sources:benefits to the capital account ofbalance of payments , the employment effects and learning valuable skills from foreign markets. Thecosts for home country are capital outflow more than inflow of foreign earnings, employmentproblem, substitute of direct exports.
