A study on foreign direct investment mode based on AHP and entropy learning
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ORIGINAL ARTICLE
A study on foreign direct investment mode based on AHP and entropy learning Jing Fu1 Received: 5 February 2018 / Accepted: 10 April 2018 © Springer-Verlag GmbH Germany, part of Springer Nature 2018
Abstract Foreign direct investment mode selection directly affects the efficiency of investment. This paper analyzes the current situation of Chinese photovoltaic (PV) industry and the spatial distribution, supply and demand relations, technical level and additional value distribution of the global PV industry chain. The competitive advantages and disadvantages of the foreign investment in Chinese PV industry chain are defined. The evaluation system of the selection of the foreign direct investment model of the photovoltaic industry chain is established using the analytic hierarchy process and the entropy learning, and relative analysis is given in this paper. The results show that the optimal investment models of the upper, middle and the lower reaches of the industrial chains are the cross border mergers and acquisitions, green-field investment and green-field investment, respectively. Keywords Entropy · Mode selection · Foreign direct investment · Photovoltaic industry · Analytic hierarchy process
1 Introduction Benefiting from the rapid development of the international photovoltaic (PV) market and the active promotion of national strategy, China has become the world’s most important production base of photovoltaic products, and be recognized as the world’s largest PV manufacturing country since 2007. For a long time, most of Chinese photovoltaic products are for export, according to customs statistics, in 2014, 52% of the photovoltaic cells and components export to other countries [1], in 2015 photovoltaic battery exports 128.99 billion dollars, increased by 6.2% [2]. However, due to the anti subsidy and anti-dumping investigations implemented by United States, Germany and other countries, export and industrial development are greatly affected. In 2016 photovoltaic battery exports 113.18 billion dollars, decreased by 12.2% [3]. In order to achieve the healthy development of the industry, Chinese PV companies began to invest directly in foreign photovoltaic industry. In 2014, China released the “strategic action plan (2014–2020)”, which combine the energy development with the national * Jing Fu [email protected] 1
School of Economics and Management, North China Electric and Power University, Beijing 102206, China
strategy “The Belt and Road” for the first time, actively support energy technologies, equipments and engineering teams become national, promotes the rapid development of Chinese foreign direct investment in photovoltaic industry, and plays a great role to achieve the global layout of the new energy industry. In 2010, the Chinese PV company Wuxi Suntech invested in the construction of photovoltaic cells in the United States, Crystal Branch Energy Co., Ltd. constructed four solar cell components factory in South Africa, Portugal, Malaysia and Southeast Asia and other countries an
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