| Chemical industry is one of the most important manufacturing industries in the UnitedStates, not only for the fundamental products it provides to other sectors, but also forthe leading place it plays in the advanced R&D fields. At the same time, chemicalindustry is the most internationalized industry, with trillions of dollars’ assets heldoutside the US. Now the problem is, with the context of Obama’s ManufacturingRebuild Policy, will or not the chemical industry turn its huge direct investmentabroad (DIA) back to America. The answer to this question relies on the study of therelationship between chemical DIA motivation and location determination, throughboth way of theoretical and empirical. Thus the factors which determine chemicalMNEs DIA will be interpreted.Among the theories of DIA, the eclectic theory by Dunning is the most widelyaccepted. However, the core of eclectic theory-OIL Paradigm has a defect that thelogic between ownership, internalization and location is not so clear because of thehighly abstract internalization theory. Besides, some literatures have showed that theold framework of OIL had neglected the factor of enterprisestrategy, which made adifficulty in explaining some newly phenomenon of direct investment after1990s.To solve these problems, the thesisputs forward the concept of MultinationalOperational Resource Demand based on Dunning’s OIL Paradigmtentatively,redefines motivation, and raises the DIA motivation-location feedback mechanism.On this base, this paper examines the motivation and character of chemical DIA, anddevelopes a panel data model to emprically test the theory.The whole paper is divided into six parts. The beginning is introduction, brieflyintroduces the study background, literatures and methods. Chapter1introduces theAmerican Chemical industry and its DIA situation. Chapter2&3concentrate on thetheoretical expound of Multinational Operational Resource Demand andmotivation-location feedback mechanism. Chapter4is an empirical study onchemical DIA and in Chapter5gives the conclusion and rethinking of this paper. |
