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中资企业对法国的直接投资问题mba论文研究

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本文是一篇mba论文,MBA教育从本质上讲是一种专业实践,特别强调在掌握现代管理理论和方法的基础上,通过商业案例分析、实战观摩、分析与决策技能训练等培养学生的实际操作技能,使学生接受知识与技能、个性与心理、目标与愿望等方面的挑战,更具有职业竞争的实力,而其他研究生则侧重于理论学习、学术研究。(以上内容来自百度百科)今天为大家推荐一篇mba论文,供大家参考。

 
CHAPTER 1INTRODUCTION
 
1.1. Background and significance of the researched subject
Since the opening up and reform process was launched in China at the end of the1970s, its economy has been developing continuously and it has emerged as one ofthe growth engines of the world economy. Inward foreign direct investment (FDI) waspart and parcel of the Chinese economic miracle, with foreign-invested firms as themost prominent exporters. As a result, inward investment into China has been widelyexamined. However, in line with the so-called investment development pathhypothesis developed by Dunning (1993), China has graduated from being majormagnet for direct investment to being a direct investor in its own right. The first waveof Chinese overseas direct investment (ODI) , which started when China joined theOMC in the late 1980s, targeted primarily developing countries in Asia, but thedestinations became increasingly diversified over time. Today, although the bulk ofChinese investment abroad is still directed to developing economies, in particular toneighboring Asian economies and to natural resource-rich African countries, asizeable share of its outward investment is targeted at industrial economies, namelythe United States and the European Union. In 2006, the Chinese Government stated‘ make another step in the globalization’, and made many policies in order to supportGovernmental and private companies.In twelve years, from 2000 to 2012, China became the third major investor in theworld. Chinese exportation multiplied by eight and it is now the first exporter in theworld with a market share of 11.4%. The foreign investment were multiplied bynearly 100, starting with 0.9 billion dollars in 2000 to 87.8 billion dollars in 2012according to Mofcom.
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1.2. Literature review
 
1.2.1. Definition of foreign direct investment (FDI)
According to the French Ministry of the Economy2, overseas direct investment(ODI) comprise those investments where an organization resident in one economyacquires or has acquired an long term interest in another organisation that is residentin a foreign economy. Long-term is taken to mean a lasting relationship with aconsiderable management involvement. Such a relationship would exist where theinvestor would control at least 10% of the capital or voting rights. Direct investmentcomprises both the initial set-up between the two entities as well as all subsequentfinancial operations between them and other parts of the same international group.These participating interests can take various forms but are principally company orestablishment creation (greenfield), mergers and acquisitions, extension of capacity.There are 3 main financial types of FDI:- Share investments: covering 10% or more of capital. Also share issues andfinancing of subsidiaries. Also property investment.- Reinvested profits: those operational net profits after dividends resulting fromsubsidiaries and overseas participations. In proportion to investmentpercentage.-   Other operations   or   inter-company loans  : these are (1) directinvestment loans and (2) international inter-company loans. These financialoperations are not always evident; in spite of IMF guidelines, loan obligationsand commercial credits currently remain categorized as share investments andcommercial loans in other parts of the balance of payments.
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CHAPTER 2FRANCE’S INVESTMENT ENVIRONMENTS:ADVANTAGES AND DISAVANTAGES FOR CHINESEINVESTORS
 
2.1. Overview of FDI in France
According to Bank of France 2014 annual report, every year since 2000 exceptfor 2013, France Investment abroad was higher than FDI in France.Figure 1 shows the general trend of FDI in France during the 2000-2014 period.From 2000 to 2014, FDI in France dropped from 30 to 15 billion dollars.After a positive FDI inflow into France from 2000 to 2007 due to a positiveeconomic environment, FDI inflow dropped suddenly after 2007, the similar period ofthe world economic crisis.From 2007 to 2010, France faced a drop from 50 to 10 billion dollars. Accordingto the Invest in France Agency, 624 projects and 34 517 jobs were registered in 2007which represent 6.2% drop compared to 2006 for the project and a reduction of 13.7%for jobs. The reasons for this drop is partly because of the shift in investment to theservice sector which is normally smaller in scale than the manufacturing sector. Theother reason is the US’s credit crunch. The UE countries remain the main source ofinternational investment. 67.4% of total job creation in France in 2007 came from UEand 13.5% from Asian countries.
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2.2. France’s investment environments: Advantages and disadvantages
According to Nick Stern, a former British Chief Economist, The Investmentenvironment is the policy, institutional, and behavioral environment, both present andexpected, that influences the returns and risks associated with investment.Foreign investors say they are attracted to France by its skilled and productivelabour force, good infrastructure, technology, and central location in Europe. EUmembership mandates the free (with certain limitations) movement of people,services, capital and goods across the European Union. This took on even greatersignificance with the introduction of Euro currency in January 2002. China seeks toachieve necessary resources in order to respond to the growing Chinese population’sdemand and to maintain growth. These investments enable China to have a place inFrance and is mainly in strategic sectors for consumption and Chinese development.In order to guide Chinese investors, we will thus present a deep PESTEL analysisregarding France environment illustrated by recent examples.
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CHAPTER 3 CHINESE ENTERPRISES’ DIRECT INVESTMENT INFRANCE FOR THE PAST FEW YEARS .............38
3.1. Chinese enterprises’ direct investment in France in recent years........38
3.2. The impacts of Chinese enterprises’ direct investment in France..........47
CHAPTER 4 CASE STUDY: BIOSTIME AND ISIGNY SAINTE-MERE INCHILDREN MILK POWDER INDUSTRY.........48
4.1. The French Lactoserum (whey powder) market....48
4.2. Biostime Group & Isigny Sainte Mere in baby milk industry.............54
 
CHAPTER 4CASE STUDY: BIOSTIME AND ISIGNY SAINTE-MERE INCHILDREN MILK POWDER INDUSTRY
 
Baby milk is well-known in all over the world and can take different forms. Inthis case study we will focus on the powder form because this form is mainly use inChina. Nowadays, the specific word ‘lactoserum’ or ‘whey powder’ is also use todescribe baby milk powder. France is one of the main lactoserum producer and manycountries are investing in France baby milk product for its quality and to secure theircountry supplies.
 
4.1. The French Lactoserum (whey powder) market
Lactoserum used to be an undervalued by-product of cheese manufacture usedfor animal feed (calves, cattle, pigs and poultry) but currently in Europe, 70% ofproduction is used this way with 20% going to baby-milk. Foodstuffs also includeconfectionary and ready-meals. The global lactoserum market is being driven by thegrowing demand for baby milk powder. In 2013, the average price for powderedlactoserum was around €1.000/tonne, up from between €400 and €600/tonne between2000 and 2006. Prices have been volatile. They reached a record €1400/tonne in 2007but returned to pre-2006 levels in 2009. These fluctuations were due to global demandfor milk powder outstripping supply. Global powdered lactoserum production was100 Mt in 2009 (FAO) mainly from Europe (27 Mt) and North America. Overseasdemand is mainly from Asia, with China importing 27% of traded volume. (Indonesia7%, Malaysia 6%, Japan 5%, and Russia 5%). Prices are very volatile because ofsupply and demand imbalance.
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CONCLUSION
 
During this research, we have analyzed the whole environment regardinginvestment in France. Chinese companies can only succeed if they have a goodknowledge of every aspect before entering the market. The followingrecommendations are suggested:Following our analysis and research we suggest that Chinese enterprises shouldconsider the following points:(1) Market research: Before entering the market, it is crucial to know the strongpoints and weak points of the host country and your own country. Investing to anexisting activity in China can be an opportunity for the future business because it cangive more added value and less competition. In order to know that Chinese enterprisesneed to research the activity they want to invest in, know the current competitors andcustomers and have an idea regarding the future of the chosen activity.(2) Choose the correct sector: Identity the sector that need support and invest in it.Helping a French sector with difficulties is also a good way to enter the market.(3) Select the best way of entering the market: Recently merging and acquisitionsseems to be the ideal way of entering the French market.(4) Focus on innovative and high quality products in order to learn more about thetechnology and the French know-how.
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References (abbreviated)

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