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本文从股权和控制权分离的视角对跨国公司股权进入模式进行了动态的博弈分析。跨国公司的股权进入模式,尤其是对控制权的配置,是在满足东道国企业和跨国公司双方激励相容和参与约束的条件下,由双方共同决定的一种相机性配置机制,目的在于尽可能减少当地企业实施机会主义行为的风险,同时又能适时地给予当地合作者以足够的激励,以尽可能地利用当地资源。
This article from the perspective of the separation of ownership and control of the transnational corporations equity entry mode of a dynamic game analysis. The mode of equity participation of MNCs, especially the allocation of control rights, is a camera-based disposition mechanism decided jointly by both parties under the conditions of satisfying the motivation and participation constraints of both host and transnational corporations. The purpose of the MNCs’ Reduce the risk of local enterprises in implementing opportunistic behavior, and at the same time give local partners timely enough incentive to make the best use of local resources.