外商直接投资行为的决定因素外文翻译
《外商直接投资行为的决定因素外文翻译》由会员分享,可在线阅读,更多相关《外商直接投资行为的决定因素外文翻译(10页珍藏版)》请在毕设资料网上搜索。
1、中文 2795 字 本科毕业论文外文翻译 外文题目: Behavioural Determinants Of foreign Direct Investment 出 处: University of Bath 作 者: Ricardo Pinheiro Alves 原 文: Behavioral Determination Of Foreign Direct Investment Picardo Pinheiro Alves Abstract The paper presents a behavioural economics approach to foreign direct invest
2、ment. Starting from behavioural finance theory, it uses content analysis from interviews made to Portuguese managers with investments abroad. The study presents evidence of herding, anchoring, overconfidence, mental accounting and other behaviour rules in firms location decisions that originate a se
3、t of determinants of FDI flows and complement the neoclassical paradigm. Moreover, it confirms the Heiner model (1983, 1985, 1989) by showing that the higher the uncertainty faced by decision makers the more frequent will be the use of behavioural rules. The central role of uncertainty helps explain
4、 why FDI flows occur more frequently among developed countries. 1.Introduction FDI theory has been developing on a partial-equilibrium basis and its empirical analysis is often not conclusive indicating that there are many determinants of FDI decisions and their role varies with context (countries,
5、firms and so on Blonigen, 2005). But theory seldom considers the role of managers within the decision making process. Psychologists recognize that managers, as human beings in general, have several motivational factors that are either intrinsic to their personality or shaped by their environment and
6、 may have multiple and changing objectives that are often contradictory (Frey and Eichenberger, 2001). Values are subject to choices and change with the personal experience of individuals. This change in values modifies the objectives that individuals attempt to attain (Akerlof, 1983). Given that ma
7、nagers have checks on their performance (from competition, shareholders, customers and employees) they often do make their choices more carefully than as if they acted as individuals. But managers are not immune to moral, cultural and other social influences usually disregarded by the economic liter
8、ature.Moreover, the behavioural finance literature has shown (e.g. Shiller, 2003) that simpler decisions in equity markets or portfolio investment cannot be totally explained by a neoclassical approach. Thus, the role of managers seems suitable to provide a complementary perspective to mainstream ec
9、onomics,and thus an enrichment of FDI theory.The aim of this paper is to show that the behavioural approach can make a contribution to FDI theory by identifying a new set of determinants, similar to those presented in behavioural finance. These are rules of behaviour repeatedly followed by managers
10、that motivate firms to choose exact locations in external markets This approach is better suited than what is usually assumed in economic models to show the complexity of FDI location decisions because it gives a central role to the uncertainty (risk as part of unknowns plus unknown unknowns) faced
- 配套讲稿:
如PPT文件的首页显示word图标,表示该PPT已包含配套word讲稿。双击word图标可打开word文档。
- 特殊限制:
部分文档作品中设计图片,仅作为作品整体效果示例展示,禁止商用。设计者仅对作品中独创性部分享有著作权。
- 关 键 词:
- 外商 直接投资 行为 行动 决定 抉择 因素 外文 翻译
