Monitoring costs and the mode of international investment
提出监控成本随物理距离增加而上升，因此距离外国投资者母国越远的直接投资越可能采用合资形式。基于台商在中国大陆投资数据的检验支持了这一假设：项目距离每远1000公里，合资概率提高13%-17%。
Our central proposition is that monitoring costs increase with physical distance, and hence, direct investments located further from the foreign investor's home base should be more likely formed as joint ventures. Tests on a data set of Taiwanese direct investments in Mainland China provide robust support to the hypothesis. A project that was located 1000 kilometers further away was 13–17% more likely to be formed as a joint venture.