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东道国制定外资参股上限对外资银行的市场进入方式和技术转移动机产生影响。本文博弈分析的结论表明:东道国规定外资参股上限降低了外资银行的技术转移动机,但有利于保护国内银行的利益。外资银行对国内银行的参股比例越高,则对其技术转移程度越高, 而对外资新建投资银行的技术转移程度越低。但外资银行对其海外全资分支机构的技术转移程度总是高于参股银行的技术转移程度。若外资银行承诺不另建分支机构,或晚进入,则可以在外资并购谈判中获得更多谈判地位。
The establishment of a cap on foreign ownership by the host country has an impact on the way in which foreign banks enter the market and their motivation for technology transfer. The conclusion of the game analysis in this paper shows that the host country’s stipulation of the upper limit of foreign shareholding reduces the motivation of technology transfer of foreign banks, but it is good for the interests of domestic banks. The higher the proportion of foreign banks in equity participation in domestic banks, the higher the degree of technology transfer to them and the lower the degree of technology transfer to the newly established foreign investment banks. However, the degree of technology transfer by wholly foreign-owned banks to their wholly overseas affiliates is always higher than that of the joint-stock banks. If a foreign bank promises not to build a branch or enter late, it can gain more bargaining position in the negotiation of foreign capital M & A.