The acceleration of globalization has led to the rapid international and regional integration of multi-national enterprises and has emphasized the importance of location from global strategic perspective. Meanwhile, FDI in korea has gradually decrease...
The acceleration of globalization has led to the rapid international and regional integration of multi-national enterprises and has emphasized the importance of location from global strategic perspective. Meanwhile, FDI in korea has gradually decreased from to US $11 billion in 2005. Although free economic zones(FEZs),and industrial complexes(ICs) have promoted investment, FDI performance remains below government expectations. According, it is meaningful to examine the location determinants of FDI in order to influence the location attraction strategies of firms.
This thus uses qualitative data collected from the CEOs and senior executives of 104 multi-national (70 Fortune 500 and 34 non-Fortune-registered companies) to explore the location determinant of FDI.
The empirical analysis was based on the results of t-tests, ANOVAs, multiple regressions, and structural equation modelling.
The empirical results suggest three main finds.
First, FEZs have labour and geographic advantages, while the factors of marketing, incentives, and business support all influence the location strategy. The results suggest that FEZs preferred to ICs, which have agglomeration, labor, government policy, and infrastructure advantages. In other words, if location satisfaction in ICs decreases, FDI withdraws from the located area. In terms of industry sectors, agglomeration, market and government policy affect marketing and incentives in the manufacturing industry, while market, labor, government policy and geographic advantages influence the location attraction strategy in the service industry.
Second, the FDI promotion policy that reflects location determinants was validated by both Fortune 500 and non-Fortune registered enterprises.
Third, Location determinant, location satisfaction, and location attraction strategy are all expected to inform policy preparation and implementation.
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