1. NCCU Academic Hub
  2. Publications
  3. College of Commerce
  4. Periodical Articles
  5. Item

Publications-Periodical Articles

Article View/Open

Publication Export

Google ScholarTM

NCCU Library

Citation Infomation

Related Publications in TAIR

題名 The impact of exchange rate movements on foreign direct investment : market-oriented versus cost-oriented
作者 陳坤銘;林家慶;饒秀華
Chen, Kun-ming; Rau, Hsiu-hua; Lin, Chia-ching
貢獻者 國貿系
關鍵詞 Wechselkurs;Exchange rate;Volatilität;Volatility;Auslandsinvestition;Foreign investment;China;Makroökonomischer Einfluss;Macroeconomic effect;Taiwanesisch;Taiwanese;1991-2002
日期 2006
上傳時間 24-Oct-2014 17:18:16 (UTC+8)
摘要 This paper examines the impact of exchange rate movements on foreign direct investment (FDI). We first employ a real options model to show that while the depreciation of a host country`s currency tends to stimulate FDI activity of cost-oriented firms, the depreciation tends to deter FDI activity for market-oriented firms. With industry panel data on Taiwan`s outward FDI into China over the period 1991–2002, our empirical findings indicate that the exchange rate level and its volatility in addition to the relative wage rate have had a significant impact on Taiwanese firms’ outward FDI into China. In general, the empirical results are consistent with the prediction of the theory. Our results reveal that the relationship between exchange rates and FDI is crucially dependent on the motives of the investing firms. Without considering this fact in an empirical model, the testing results might suffer from aggregations bias.
關聯 The Developing Economies,44(3),269-287
資料類型 article
DOI http://dx.doi.org/10.1111/j.1746-1049.2006.00017.x
dc.contributor 國貿系en_US
dc.creator (作者) 陳坤銘;林家慶;饒秀華zh_TW
dc.creator (作者) Chen, Kun-ming; Rau, Hsiu-hua; Lin, Chia-chingen_US
dc.date (日期) 2006en_US
dc.date.accessioned 24-Oct-2014 17:18:16 (UTC+8)-
dc.date.available 24-Oct-2014 17:18:16 (UTC+8)-
dc.date.issued (上傳時間) 24-Oct-2014 17:18:16 (UTC+8)-
dc.identifier.uri (URI) http://nccur.lib.nccu.edu.tw/handle/140.119/70774-
dc.description.abstract (摘要) This paper examines the impact of exchange rate movements on foreign direct investment (FDI). We first employ a real options model to show that while the depreciation of a host country`s currency tends to stimulate FDI activity of cost-oriented firms, the depreciation tends to deter FDI activity for market-oriented firms. With industry panel data on Taiwan`s outward FDI into China over the period 1991–2002, our empirical findings indicate that the exchange rate level and its volatility in addition to the relative wage rate have had a significant impact on Taiwanese firms’ outward FDI into China. In general, the empirical results are consistent with the prediction of the theory. Our results reveal that the relationship between exchange rates and FDI is crucially dependent on the motives of the investing firms. Without considering this fact in an empirical model, the testing results might suffer from aggregations bias.en_US
dc.format.extent 204362 bytes-
dc.format.mimetype application/pdf-
dc.language.iso en_US-
dc.relation (關聯) The Developing Economies,44(3),269-287en_US
dc.subject (關鍵詞) Wechselkurs;Exchange rate;Volatilität;Volatility;Auslandsinvestition;Foreign investment;China;Makroökonomischer Einfluss;Macroeconomic effect;Taiwanesisch;Taiwanese;1991-2002en_US
dc.title (題名) The impact of exchange rate movements on foreign direct investment : market-oriented versus cost-orienteden_US
dc.type (資料類型) articleen
dc.identifier.doi (DOI) 10.1111/j.1746-1049.2006.00017.xen_US
dc.doi.uri (DOI) http://dx.doi.org/10.1111/j.1746-1049.2006.00017.xen_US