研討日期	2025年05月26日12:10-13:50
研討地點	國立臺灣大學社會科學院710會議室
主講題目 Title of the paper	Passive Shareholding, Entry Mode, and Host Country Welfare Analysis
作者 Authors of the paper	王羿傑
文獻出處 Journal, vol.(issue), pp	Working Paper
主講人	王羿傑
參加人員	黃鴻、林燕淑、許至乙、高國峯、王羿傑、林晏如、Bui Dang-Long、Micah Mainala、楊雅棠、洪睿翔
摘要 Abstract of the Paper	This study examines how passive equity ownership influences the strategic choice of entry mode by multinational firms and the resulting effects on host country welfare. We model a setting where a foreign firm must decide between exporting and undertaking foreign direct investment (FDI) to compete in a local Cournot market. The analysis focuses on three ownership scenarios: passive stakes held by the domestic firm, by the multinational firm, and reciprocal passive holdings by both parties. Our findings suggest that passive ownership often shifts the multinational’s preference toward exporting, especially when the fixed cost of FDI lies within a moderate range. This shift can, under certain conditions, lead to an improvement in host country’s welfare due to enhanced tariff revenues and increased local firm profits, although the effect is sensitive to the shareholding structure and magnitude. These results offer a nuanced perspective on how inter-firm ownership links shape international market dynamics and policy outcomes.