1、Unit 4 Multinational Corporation(跨国企业)(跨国企业)第1页Outlinel1、The characteristics of Multinational Corporationl2、Reasons for the existence of multinational corporationsl3、Problems created by multinational corporations in the home countryl4、Problems Created by Multinational Corporations in the Host Countr
2、y第2页lOne of the most significant international economic developments of the post war period is the proliferation of multinational corporations(MNCs).These are firms that own,control,or manage production facilities in several countries.lIntra-firm trade:Trade among the parent firm and its foreign aff
3、iliates第3页l国际经济发展一个最主要时期是战后跨国企业快速增加。这些企业拥有,控制或管理生产设施在几个国家。l企业内部贸易:贸易母企业及其外国从属企业之间贸易第4页一、跨国企业特点(一、跨国企业特点(The characteristics of Multinational Corporation)l一、跨国企业特点(The characteristics of Multinational Corporation)lThe first characteristic of an MNC is that its affiliates must be responsive to a numbe
4、r of important environment forces,including competitors,customers,suppliers,financial institutions and the government.l第一个特点是,一个跨国企业及其子企业必须能够响应一些主要环境原因,包含竞争对手,客户,供给商,金融机构和政府。第5页characteristicsl The second one is that it draws on a common pool of resources,including assets,trademarks,information,pate
5、nts,information and systems,money and credit and human resources.第6页l第二个特征是,它借鉴了一个共同资源,包含资产,商标,信息,专利,信息和体系,货币和信贷和人力资源。子企业都是同一家企业一部分,所以他们有机会取得往往没有提供给外人得不到资产。换句话说,全部子企业共享相同资源。第7页characteristicslThe third one is that it links together the affiliates and business partners with a common strategic vision.
6、l第三个特征是跨国企业子企业和业务合作搭档,以共同战略眼光联络在一起。第8页二、跨国企业存在原因(二、跨国企业存在原因(Reasons for the existence of multinational corporations)l The basic reason for the existence of MNCs is the competitive advantage of a global network of production and distribution.lThis competitive advantage arises in part from vertical an
7、d horizontal integration with foreign affiliates.l跨国企业存在基本原因是生产和配送全球网络化竞争优势,这种竞争优势是起源于横向一体化与纵向一体化。第9页vertical integrationlBy vertical integration,most MNCs can ensure their supply of foreign raw materials and intermediate products and circumvent the imperfections often found in foreign markets.They
8、can also provide better distribution and service networks.l经过纵向一体化,大多数跨国企业能确保外国原材料和半成品供给,而且能躲避外国市场上常见市场不完全。同时,它也能提供更加好配送和服务网络。第10页horizontal integrationlBy horizontal integration through foreign affiliates,MNCs can better protect and exploit their monopoly power,adapt their products to local conditi
9、ons and tastes,and ensure consistent product quality.l经过水平一体化,跨国企业能更加好地保护和开发他们垄断力量,确保他们产品能适应该地情况和品味,并确保产品质量稳定性。第11页lThe large output of MNCs allows them to carry division of labor and specialization in production much further than smaller national firms.Product components requiring only unskilled la
10、bor can be produced in low-wage nations and shipped elsewhere for assembly.l跨国企业大规模产出使他们比小企业能够进行分工和专业化生产。产品组件只需要非熟练劳动力,能够在低工资国家生产,运往别处组装。第12页lThey can also concentrate R&D in one or a few advanced nations best suited for these purposes because of the greater of technical personnel and facilities.l他们
11、也能够把研发集中在一个或几个先进国家,因为这些国家拥有更多技术人员和设施。第13页lFinally,foreign affiliates funnel information from around the world to the parent firm,placing it in a better position than national lfirms to evaluate,anticipate,and take advantage of changes in comparative costs,consumers tastes,and market conditions gener
12、ally.l最终,外国子企业聚集来自世界各地信息传回给母企业,使它在评定,预测,利用比较成本改变,消费者口味,和市场条件方面比本国企业处于更加好位置。第14页lThe large corporation invests abroad when expected profits on additional investments in its industry are higher abroad.That is,it is differences in expected rates of profits domestically and abroad in the particular indu
13、stry that are of crucial importance in a large corporations decision to invest abroad.第15页l大企业之所以进行海外投资是因为经过海外投资所获利润预期比在国内投资高。这就是说,在国内和国外行业预期盈利率差异是一家大企业决定是否向海外投资最主要原因。第16页MNCS VS national corporationlMNCs are also in a much better position to control or change to their advantage the environment in w
14、hich they operate than are purely national firms.lFor example,in determining where to set up a plant to produce a component,an MNC can and usually does shop around for the low-wage nation that offers the most incentives in the form of tax holiday,subsidies,and other tax and trade benefits.第17页l跨国企业对
15、于掌控和改变环境比对国内企业来说更有优势。比如,在确定在何处设置工厂生产零部件时,一个跨国企业是通常是“货比三家”(处处物色)低工资国家,这些国家提供了最有利条件,免税,补助,和其它税收和贸易利益。第18页lThe sheer size of most MNCs in relation to most host nations also means the MNCs are in a better position than purely national firms to influence the policies of local governments and extract bene
16、fits.l从规模上而言,相对于东道国国内企业,大多数跨国企业在影响地方政府政策、获取好处方面处于更有利地位。第19页lFurthermore,MNCs can buy up promising local firms to avoid future competition and are in a much better position than purely domestic firms to engage in other practices that restrict local trade and increase their profits.MNCs,through greate
17、r diversification,also face lower risks and generally earn higher profits than purely national firms.第20页l另外,跨国企业能够买到有发展潜力地方企业,以防止未来竞争,并在其它限制贸易办法和增加利润方面纯粹国内企业处于更有利地位。跨国企业,经过更大多样化生产,还比纯粹国内企业更加好地降低风险和取得更高利润。第21页lFinally,by artificially overpricing components shipped to an affiliate in a higher-tax nat
18、ion and underpricing products shipped from the affiliate in the high-tax nation,an MNC can minimize its tax bill.This is called transfer pricing and can arise in intra-firm trade as opposed to trade among independent firms or conducted at arms length.第22页l最终,经过人为地提升零部件价格,把其运到较高税率国家,压低从较高税收国家运来产品价格,跨
19、国企业能够最小化它税收账单。这就是所谓转移定价,这也带来了企业内部贸易,与之相正确是与独立企业之间贸易。第23页lThat is by vertical and horizontal integration with foreign affiliates,by taking advantage of economies of scale,and by being in a better position than purely national firms to control the environment in which they operate,MNCs have grown to b
20、ecome the most prominent form of private international economic organizations in existence today.第24页l这是经过与外国子企业纵向和横向一体化,利用规模经济,并比纯粹国内企业在控制其运行环境处于更有利地位,跨国企业已经发展成为最突出私人国际经济组织形式。第25页三、跨国企业在母国产生问题三、跨国企业在母国产生问题Problems created by multinational corporations in the home countrylThe most controversial of t
21、he alleged harmful effects of MNCs on the home nation is the loss of domestic jobs resulting from foreign direct investments.l最有争议指称跨国企业在母国最有害影响是因为对外直接投资造成国内就业机会降低。第26页lA related problem is the export of advanced technology to be combined with other cheaper foreign factors to maximize corporate prof
22、its.It is claimed that this may undermine the technological superiority and future of the home nation.l一个相关问题是先进技术结合其它更廉价外国原因出口能够使得企业利润最大化。据称,这可能会破坏技术优势和母国未来。第27页lAnother possible harmful effect of MNCs on the home country can result from transfer pricing and similar practices,and from shifting thei
23、r operations to lower-tax nations,MNCs reduce tax revenues and erode the tax base of the home country.l另一个可能对跨国企业母国有害影响做法是来自转移定价和类似做法,它们业务转移到低税国,跨国企业降低税收,侵蚀了母国税基。第28页lFinally,because of their access to international capital markets,MNCs can circumvent domestic monetary policies and make government c
24、ontrol over the economy in the home nation more difficult.l最终,因为其进入国际资本市场,跨国企业能够绕过国内货币政策,使政府控制国家经济愈加困难。第29页四、四、Problems Created by Multinational Corporations in the Host Country(跨国企业在东道国产(跨国企业在东道国产生问题)生问题)lHost countries have even more serious complaints against MNCs.First and foremost is the allega
25、tion that MNCs dominate their economies.l东道国对跨国企业有更多严重埋怨。首先而且是最主要是跨国企业支配了它们经济。第30页lForeign domination is felt in many different ways in host countries,including 1)the unwillingness of a local affiliate of an MNC to export to a nation deemed unfriendly to the home nation or the requirement to comply
26、with a home-nation law prohibiting such exports;2)the borrowing of funds abroad to circumvent tight domestic credit conditions and the lending of funds abroad when interest rates are low at home;第31页l3)the effect on national tastes of large-scale advertising for such products as Coca-Cola,jeans,and
27、so on.l外国统治是以许多不一样方式在东道国表达,包含1)不愿当地跨国企业子企业对被母国视为不友好国家出口或者要求遵照母国法律禁止这类出口;2)向国外借贷资金以躲避国内信贷紧缩情况,当国内利率低时候向外贷款;3)经过大型广告对国家品味影响,比如,可口可乐,牛仔裤,等等。第32页lAnother alleged harmful effect of MNCs on the host country is the siphoning off of R&D funds to the home nation.This is especially true and serious for develo
28、ping nations,it also keeps the host country technologically dependent.l跨国企业在东道国被指控另一个有害影响是侵吞母国研发经费。这是尤其对发展中国家尤其严重,它也使东道国增加对技术依赖。第33页lMNCs may also absorb local savings and entrepreneurial talent,thus preventing them from being used to establish domestic enterprises that might be more important for n
29、ational growth and development.l跨国企业也能够吸收当地储蓄和企业人才,从而预防它们被用于建立国内企业,这些国内企业对于国家增加和发展尤为主要。第34页lIn developing nations,foreign direct investments by MNCs in mineral and raw material production have often given rise to complaints of foreign exploitation in the form of low prices paid to host nations,the u
30、se of highly capital-intensive production techniques inappropriate for labor-abundant developing nations,lack of training of local labor,overexploitation of natural resources,and creating highly dualistic“enclave”economies.第35页l在发展中国家,外国直接投资跨国企业在矿产和原材料生产往往引发外国剥削投诉:支付低廉价格给东道国;利用资本高度密集生产技术,这些技术不适合劳动力丰富发展中国家;缺乏培训当地劳动力,自然资源过分开发,并创造高度二元“飞地”经济。第36页