国际服务贸易双语Internationaltradeinservices课程教案.doc

国际服务贸易（双语）(International trade in services)课 程 教 案2010 - 2011学年第二学期 西安培华学院商学院经济系2010- 2011 学年第二学期授课计划表OrderContents and AbstractsHoursRemarks1Chapter 5Foreign Direct Investment (FDI) and Transnational Corporations of Service IndustryOverview of FDI and Transnational Corporations；Theoretical analysis of reasons for development of FDI and transnational corporations；Organizational forms of transnational corporations；Effects of FDI and transnational corporations8 hrs.2Chapter 6 Development of World International Trade in ServicesDevelopment of International Trade in Services；Development of Chinas Trade in Services；4hrs.3Chapter 7 Agreements on International Trade in ServicesIntroduction to General Agreement on Trade in Services；Review on General Agreement on Trade in Services；Regional agreements on trade in services4 hrs.4Chapter 8 Traditional Trade in Services Trade in Transport Service；Trade in tourism service；Trade in Financial Service；Trade in Insurance Service4 hrs.5Chapter 9 Emerging International Trade in ServicesTrade in technical service;Trade in Computer and Information Services;Trade in professional Service;Offshore Outsourcing of Service4 hrs.Total24hrs.Chapter 5 Foreign Direct Investment (FDI) and transnational Corporations of Service Industry（8hrs.）【Teaching Purposes and Requirements】 Understand the status in quo of FDI and transnational corporations in service industry; Focus on Dunnings Eclectic Theory of International Production and its applications in service industry; Know about business patterns and effects of FDI and transnational corporations in service industry【Teaching Contents】Section 1 Overview of FDI and Transnational Corporations in Service Industry【Case study】Popular Franchise Store（1）Why do those service enterprises take the way of Franchise in the business operation? 为什么服务业企业经营过程中往往采取特许经营的方式？Cost-saving, preserve the core techniques节省成本，保留核心技术。（2）Try to give some examples to illustrate successful non-equity cooperation of transnational corporations in service industry. And analyze the reason why they choose it.试列举出服务业跨国公司成功实现非股权安排的实例，分析这些企业服务业跨国经营模式选择的原因。KFC and Mcdonalds5.1.1FDI of service industryForeign direct investment, obtain the direct control of assets and management.Firstly lets see some basic facts about FDI of service industry. Foreign direct investment scale in service industry Regional differences of FDI in service industry Industrial characteristics of FDI in service industry Liberalization of FDI in service industryWith the development of economic globalization, the service industry of all countries is increasingly opening up to the outside world. Some countries cancelled the regulations in different ways on the third industries, including transportation, tourism and information services, in which foreign capitals were strictly restricted in the past.5.1.2 Transnational corporations in service industry Investment of manufacturing transnational companies in service industries Not all FDI in service industry are carried out by service enterprises but some manufacturing enterprises. These companies are encouraged to engage in service industries due to many factors, but mainly to the intention of reducing cost and materializing market-oriented vertical integration(市场导向垂直一体化). Transnational corporations in service industrySince 1980s transnational corporations in service industry rised rapidly and played important roles in the process of globalized management. It has the following features:1) Management internationalization经营国际化Although there are many restraints and barriers placed on FDI of service sectors, nearly all service industries are inclined to run transnational business, particularly in the industry of banks, insurance, accounting and consultation.2) Business diversification业务多样化Just as the business of manufacturing companies expands into service industries, some service industries are increasingly extending into manufacturing. For example, in tourism, marriage between hotel and airlines is common but later the taxi industry joins in.3) Development imbalance发展不平衡性It means regional and industrial imbalance of transnational corporations in service industry.In regional perspective, developed market economic countries are those headquarters of transnational corporations locate in. In all the developed countries the US is a host country that has the most of overseas subsidiaries in service industry, followed by Latin America and Asia. In view of the industrial aspect, American transnational corporations possess the largest number of foreign affiliates in accounting, retail, fast-food, legal service and financial service.4) Technology diffusion driven by transnational corporations in service industries服务业跨国公司带动技术扩散Transnational corporations have become the cradle of modern technologies. Manufacturing transnational corporations make use of cheap labor in developing countries and transfer the labor-intensive production to foreign affilicates while the parent company keeps capital- and technology-intensive production. Therefore the techniques gap widden. Compared with that, transnational corporations in service industry put less capital in hard technology research and the production and consumption of service cannot be seperated, technique transferred level is closer to the parent company.5) Frequency in mergers and acquisitions of transnational corporations in service industries服务业跨国公司并购活动频繁As restraints on foreign investment loosen in all countries, transnational mergers and acquisitions become main modes of FDI because of prompt investment and effective tax avoidance. In the view of specific industries, global acquisition first focus on financial industry, like frequent merger of banks in EU and US. They also focus on telecommunication industry. For example, AOL(American online) acquires Time Warner spending US$147 billion, which is one of the largest cases of mergers and acquisitions.6) Strategic changes guided by transnational corporations in service industries服务业跨国公司主导战略变化Judging from historic development of transnational corporations, service industry just followed behind manufacturing industry in implementing transnational activities. Since 1980s service industries have moved toward overseas market without following steps of manufacturing industry. The international competitive environment helps to enhance the strategic transnational awareness of service industries to set up worldwide branch networks and make profits. In the context of WTO loosened regulations in all countries on telecom and financial service sectors have created opportunities for transnational corporations in service industries to expand overseas business.5.2 Theoretical analysis of reasons for development of FDI and transnational corporations in service industry5.2.1 Applicability of traditional FDI theory in international trade in servicesReview of traditional FDI theory1). Theory of monopolistic advantageHymer discovered that FDI was related to monopolistic industrial sectors in his studies on FDI industrial sectoral compositions of American enterprises. Enterprises dealing with FDI business were found in a few of peculiarly advantageous sectors.2). Theory of product life cycle(PLC)Vernon divided product cycles into three stages in 1966: innovation, maturity and standardization, each with a different production cost and production location choice, leading to different strategies of a company on trade and investment.3). Theory of marginal industry expansionKojima, a Japanese scholar, proposed that FDI begin with domestic industry with less advantagemarginal industry, and industrial transfer be implemented accordingly. 4). Theory of investment-induced factor combinationThis theory, developed by Western scholars in 2009, argues that any type of FDI is generated by combinational factors induced directly or indirectly by investment.5.2.2 Eclectic theory of international productionThe eclectic theory of international production, developed by Dunning, a famous expert of transnational corporations and FDI master, has a perfect system and is the typical FDI theory. He integrates monopolistic advantage(or ownership advantage) theory, internalization theory and location theory, which reveals the decisive factors of transnational operationsthree advantages and their interactions. Ownership-special advantagesIt can be interpreted as companys capability to meet needs of its current or potential customers.Qulity controlScope economyScale economyTechnology and informationObtain favorable opportunity for input or access to marketCorporate reputation and brand nameHuman resourcesInnovation Locational-choice advantage1) The following factors that influence location of transnational corporations in service industry. 1).natural resources, man-made resources endowments and spatial distribution of market;自然资源、人造资源禀赋和市场的空间分布2).prices, quality and efficiency of inputs of labor, energies, raw materials, components, semi-finished products;；劳动力、能源、原料、元件、半成品等投入的价格、质量和自傲率3).international transportation and communication (possibly extremely high in service industries);国际运输和通讯成本（在服务业中可能极高）4).incentive and disincentive factors of investment;鼓励和抑制投资的因素5).human barriers for trade in services (e.g. import regulations);对服务员贸易的认为障碍（如进口管制）6).infrastructure (business, laws, education, transportation and telecommunication);基础设施（商业、法律、教育、运输和电讯）7).psychological gaps (cultural differences);心里差距（文化差异）8).psychological gasp (linguistic, commercial and custom differences);心里差距（语言、商业、习俗等差异）9).information collection and interpretation;信息搜集和解释10).R&D, production and sales; R&D、生产及销售11).Framework economic systems and governmental policy and resources allocation;经济制度与政府政策、资源配置的框架12).Laws and rules for market and access to market.市场和市场准入法规2) location choice advantages comprise mainly the following:Advantages derived from immovable factor endowments of host country, including rich natural resources, convenient geographical location and large population.Advantages resulted from favorable conditions in host countries such as flexible policy, laws and rules, preferential infrastructure.Advantages also contain agglomeration economy. Internalization advantagesStudent reflectionWhats the internalization advantages?(1) avoid costs of looking for partners and negotiations with them; 避免寻找伙伴并与其谈判的成本(2) avoid cost of exercising property rights;避免行使产权的成本(3) reduce or eliminate uncertainty of property and value of inputs (including technology);弱化或消除投入（如技术）的性质和价值的不确定性(4) regulations on prohibition of price discrimination; 禁止价格歧视的规定(5) quality guarantee of intermediate or final products;中间产品或最终产品质量的保证(6) compensations for lack of future market; 对缺乏期货市场的补偿(7) avoid or make use of governmental interventions (such as quota, tariff, price control and tax differences); 避免或利用政府干预（如配额、关税、价格管制、税收差异等）(8)control supply and sales conditions for inputs (such as technology);控制投入（包括技术）的供应和销售条件(9) control market channels (including market channels possibly used by competitors);控释市场渠道（包括可能倍竞争者利用的市场渠道）(10) use competitive or anti-competitive strategies of cross-subsidy, predatory pricing, leads and lags, price transfer, etc.使用交叉补贴、掠夺性定提前或推迟结汇、转移价格等竞争或反竞争策略Organizational forms of transnational corporations in service industry rely on relative costs and benefits of various forms as well as the degree and types of governmental interventions.First, relative costs and benefits of all organizational forms.Costs of equity investment comprise mainly: 1) capital needed for equity investment and risk of losing this capital; 2) risks of managing, coordinating and monitoring foreign equity investment; 3) abandon benefits derived from purchases from professional producers and high-efficiency suppliers.Risks of non-equity arrangement lie mainly in the nature of transactions, including: 1) costs related to transactions, such as costs of looking for contractual partners and negotiations with them; 2) costs related to contracting conditions, including prices (due to dissymmetric information, contracting parties may pay to contractor rewards lower than service prices), specifications of service provided as well as control of use, number and time of delivery of services provided; 3) costs of supervision especially on quality management and inspection programs; 4) costs related to performance or non-performance of contractual provisions as well as costs of damaged contractual provisions; 5) benefits abandoned as a result of internalization in market transactions.Second, governmental roles, including direct administrative intervention as well as financial, tax, tariff and non-tariff policy measures. To be more specific, there are three categories of service sectors inclined to organize transnational supply through FDI mode instead of contractual relationship non-equity arrangement: 1) banking and financial service industries, most of information-intensive industries and professional industries, such as management and engineering consultation, data service, leasing company, travel agency and airlines where the reasons for vertical integration along value-added chain or horizontal integration across value-added chain are that many professional knowledge and information can be personally understood but not expressed in words, having higher production cost, complicated and peculiar but easy to reproduce.2) service industries inclined to forward integration, including advertisement, market survey, management consultation and personal service industries related to goods (such as auto repair); 3) subsidiary service enterprises owned by non-service transnational corporations which are related to trade and aim to obtain maximal incomes for parent enterprise using as many favorable conditions as possible or exploit market for commodities and services produced and exported by parent enterprise. There are four kinds of transnational corporations in service industries that tend to adopt minority equity investment or non-equity arrangement: 1) hotel, restaurant, fast food store and auto hire company; 2) industries that need local special knowledge or arrange production according to customers requests, such as engineering, building, technical service industries and accounting, legal service industries; 3) in consideration of reducing sales and distribution cost, newly-established or small-scale transnational corporations in service industries may hope to join hands with local agents or related service companies, or to regard them as licensed industries; 4) service industries such as investment banks and property insurance, risks in which are so big that they can be shared by business group or bank consortium in one or several countries. Concrete manifestations of three advantages（三种优势的具体体现）Give some examples5.3 Organizational forms of transnational corporations in service industry（服务业跨国公司的经营组织形式）In general, just like transnational corporations in manufacturing, those in service industries, especially the large ones, usually take organizational forms of equity and non-equity arrangements. 5.3.1 Non-equity cooperation（非股权合作形式）Students reflectionWhats non-equity cooperation?It means to enter target market by contractual transfer of one or more intangible assets on condition that equity or corporate property right is not involved, and includes franchise, management contract, license agreement and strategic partnership, of which franchise is the most successful in service industries. Extension whats FranchiseFranchise is premised by potential franchiser who possesses famous commodity, trademark, technology, plan and management capabilities and potential franchisee who has fund; franchiser confers his trademark, firm, product, patent and special technology and business pattern to franchisee for use through franchising contact while franchisee operates in franchisers unified pattern as stated in contact and pays relative charges to franchiser. Franchise allows franchiser to carry out international business with less input and enables franchisee to introduce counterpartys mature brand, patent and managerial experience without taking risks, as McDonalds, KFC and Watsons have done. 5.3.2 Equity cooperation（股权合作形式）Students reflection1. Whats equity cooperation?Equity investment, including largely new establishment and mergers-acquisitions, means that foreign direct investor of service industry carry out business in target country through full or partial participation, whose business entities comprise overseas branches, foreign affiliates and offices.2. The advantages and disadvantages of equity and non-equity cooperation1) equity cooperation has disadvantage in relative big cost of direct investment but has advantage in realization of internalized transaction of intangible assets through sharing information and resources inside transnational corporation system so as to minimize market failure caused by information asymmetry, address difficult pricing of brand and management in non-equity cooperation, avoid losses due to secrets disclosure and make for realization of ownership interest of investor;2) non-equity arrangement has a certain period, investor creates potential rivals when imparting his experience and technology while the subsidiaries generated by equity investment belong to transnational corporation and take unified actions under its global strategy, causing no huge threat to investor.5.4. Effects of FDI and transnational corporations in service industry（服务业对外直接投资与跨国公司的影响）5.4.1 Effect