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Essays on Technology Transfer and Ownership Structure of Multinational Enterprises.

Record Type:	Electronic resources : Monograph/item
Title/Author:	Essays on Technology Transfer and Ownership Structure of Multinational Enterprises./
Author:	Song, Tianchen.
Description:	1 online resource (115 pages)
Notes:	Source: Dissertations Abstracts International, Volume: 84-04, Section: B.
Contained By:	Dissertations Abstracts International84-04B.
Subject:	Intellectual property. -
Online resource:	http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=29394104click for full text (PQDT)
ISBN:	9798352900246

Essays on Technology Transfer and Ownership Structure of Multinational Enterprises.
Song, Tianchen.

Essays on Technology Transfer and Ownership Structure of Multinational Enterprises. - 1 online resource (115 pages)

Source: Dissertations Abstracts International, Volume: 84-04, Section: B.

Thesis (Ph.D.)--University of Rochester, 2022.

Includes bibliographical references

This dissertation consists of essays addressing technology transfer and ownership structure of multinational enterprises and geographic agglomeration identification. Each chapter employs both empirical and quantitative structural methods.The first chapter studies how knowledge composition and technology transfer shape the ownership structure of multinational enterprises (MNEs). I find that shareholdings of French MNEs over their foreign affiliates differ across destination countries and across an individual MNE's life cycle. To understand how ownership structures and MNE performances jointly adjust to policies, I build and calibrate a dynamic model featuring heterogeneous firms in both local know-how (LKH) and mobile know-how (MKH), transfer of LKH from partners, and accumulation of LKH for future entries. In the model, the composition of LKH and MKH determines MNE's entry decision, and the distribution of LKH and MKH generates a positive assortative matching pattern as in the data. Empirically consistent with the model, the average shareholdings are larger in countries that are highly developed and culturally closer to France; productive MNEs match with productive local firms; MNEs follow a gradual internationalization process where foreign experience increases the average shareholdings of following affiliates and the probability of wholly-owning. Quantitatively compared with a static model, the dynamic model predicts a much larger contribution of LKH and production loss to ownership restriction. In a counterfactual of imposing a 90% ownership restriction to Romania, MNE total production decreases by 12%, whereas the drop is less than 2% in static models; the intensive margin explains 7%, with the fast-growers hit the hardest. The future profit loss is the main reason for both extensive and intensive margin changes. My results can help governments measure dynamic production changes for multinationals to evaluate policies affecting multinational technology diffusion and ownership structure.The second chapter studies how natural advantage and agglomeration determine firms' location choice and geographic concentration. We show that manufacturing industries are highly concentrated geographically, and firms in larger regions are of larger sizes and grow faster. We focus our study on the effect played by the agglomeration: producers benefit from the existence of nearby producers. Empirically, we use Chinese Census of Industries data to provide evidence of region-size premium on entrant number, sales and sales growth rate, and a changing industrial concentration. Theoretically, we build a dynamic model where firms make location choices, and the agglomeration effect determines how fast firms update their technology. In the calibration, we infer natural advantage changes from observed entrant shares and identify the model-based agglomeration effect using the correlation between the average sales growths and entrant share growths. We simulate the model to match China's entrant share changes from 1998 to 2007. Quantitatively, we show that agglomeration effects can explain one-fourth of the firm-level productivity growth, one-eighth of the sales growth, and two-thirds of the average productivity difference in the largest regions (5th quantile) versus the smallest regions (1st quantile).

Electronic reproduction.
Ann Arbor, Mich. :
ProQuest,
2023

Mode of access: World Wide Web

ISBN: 9798352900246Subjects--Topical Terms:

572975
Intellectual property.
Subjects--Index Terms:

AgglomerationIndex Terms--Genre/Form:

542853
Electronic books.

Essays on Technology Transfer and Ownership Structure of Multinational Enterprises.
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500 $a Source: Dissertations Abstracts International, Volume: 84-04, Section: B.
500 $a Advisor: Alessandria, George.
502 $a Thesis (Ph.D.)--University of Rochester, 2022.
504 $a Includes bibliographical references
520 $a This dissertation consists of essays addressing technology transfer and ownership structure of multinational enterprises and geographic agglomeration identification. Each chapter employs both empirical and quantitative structural methods.The first chapter studies how knowledge composition and technology transfer shape the ownership structure of multinational enterprises (MNEs). I find that shareholdings of French MNEs over their foreign affiliates differ across destination countries and across an individual MNE's life cycle. To understand how ownership structures and MNE performances jointly adjust to policies, I build and calibrate a dynamic model featuring heterogeneous firms in both local know-how (LKH) and mobile know-how (MKH), transfer of LKH from partners, and accumulation of LKH for future entries. In the model, the composition of LKH and MKH determines MNE's entry decision, and the distribution of LKH and MKH generates a positive assortative matching pattern as in the data. Empirically consistent with the model, the average shareholdings are larger in countries that are highly developed and culturally closer to France; productive MNEs match with productive local firms; MNEs follow a gradual internationalization process where foreign experience increases the average shareholdings of following affiliates and the probability of wholly-owning. Quantitatively compared with a static model, the dynamic model predicts a much larger contribution of LKH and production loss to ownership restriction. In a counterfactual of imposing a 90% ownership restriction to Romania, MNE total production decreases by 12%, whereas the drop is less than 2% in static models; the intensive margin explains 7%, with the fast-growers hit the hardest. The future profit loss is the main reason for both extensive and intensive margin changes. My results can help governments measure dynamic production changes for multinationals to evaluate policies affecting multinational technology diffusion and ownership structure.The second chapter studies how natural advantage and agglomeration determine firms' location choice and geographic concentration. We show that manufacturing industries are highly concentrated geographically, and firms in larger regions are of larger sizes and grow faster. We focus our study on the effect played by the agglomeration: producers benefit from the existence of nearby producers. Empirically, we use Chinese Census of Industries data to provide evidence of region-size premium on entrant number, sales and sales growth rate, and a changing industrial concentration. Theoretically, we build a dynamic model where firms make location choices, and the agglomeration effect determines how fast firms update their technology. In the calibration, we infer natural advantage changes from observed entrant shares and identify the model-based agglomeration effect using the correlation between the average sales growths and entrant share growths. We simulate the model to match China's entrant share changes from 1998 to 2007. Quantitatively, we show that agglomeration effects can explain one-fourth of the firm-level productivity growth, one-eighth of the sales growth, and two-thirds of the average productivity difference in the largest regions (5th quantile) versus the smallest regions (1st quantile).
533 $a Electronic reproduction. $b Ann Arbor, Mich. : $c ProQuest, $d 2023
538 $a Mode of access: World Wide Web
650 4 $a Intellectual property. $3 572975
650 4 $a Information technology. $3 532993
653 $a Agglomeration
653 $a Dynamic model
653 $a Multinational enterprises
653 $a Ownership structure
653 $a Technology transfer
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710 2 $a University of Rochester. $b School of Arts and Sciences. $3 2099014
773 0 $t Dissertations Abstracts International $g 84-04B.
856 4 0 $u http://pqdd.sinica.edu.tw/twdaoapp/servlet/advanced?query=29394104 $z click for full text (PQDT)