Firm- and Country-Level Trade-offs and Contingencies in the Evaluation of Foreign Investment: The Semiconductor Industry, 1994–2002
研究了1994-2002年间半导体企业国际选址决策中企业技术能力与国家政治风险、技术水平的交互作用，发现技术先进企业更倾向投资技术先进但政治风险低的国家，而技术落后企业则更愿在政治风险与技术间权衡。
This paper examines the joint impact of firm- and country-level factors on the international plant location decisions of semiconductor firms from 1994–2002. We find that these factors interact to influence the location decisions of firms investing abroad in a given host country. Firms with more advanced technological capabilities are more likely to make investments in countries with greater technological sophistication but not in politically hazardous countries where they face greater expropriation hazards. Firms with less-advanced technology are more willing to accept a trade-off between country-level political hazards and technological sophistication. Firms also trade off own- versus other-firm experience as sources of critical knowledge regarding the foreign investment environment.