[[alternative]]Localization and production efficiency of parent company: evidence from investment of Taiwan's electronics industry in China

[[abstract]] 本文以台灣上市上櫃電子業為研究對象，並使用隨機邊界模型，研究台灣電子業廠商於大陸投資之當地化程度對其母公司生產效率之影響。實證結果發現，因電子產業本身差異性大，因此，對外直接投資對其生產效率的影響，對不同類型的電子產業影響也會不同，這或許是因電子業本身產業性質差異極大，而有此現象。在當地化程度方面，台灣廠商在大陸當地銷售比率提高，可使台灣母公司之生產效率提高。但在大陸當地採購比率提高，對台灣母公司生產效率之影響，則未有一致的結論。[[abstract]] This study investigates the impact of foreign direct investment on the production efficiency of the parent company. Specially, the influences of the degree of localization are concerned. And we focus in the electronics industry. Using the data of Taiwan’s listed company investing in China, stochastic frontier method is employed to estimate these effects we interested. The results indicate that, due to the heterogeneity across the different kinds of the electronics industries, the effects of foreign direct investment on production efficiency are not consistent. Regarding the effect of localization, an increase in the ratio of local sales for Taiwanese subsidiaries in China may stimulate the production efficiency of their parent company. However, the effects of local purchase in China are ambiguous