在跨國企業合作夥伴選擇的研究中，較少關注地主國政府治理和投資環境對創新合作夥伴選擇的影響。本研究從交易成本理論和企業行為理論視角，探討地主國制度環境對跨國企業研發合作夥伴選擇的影響。利用經濟部投審會2007至2012年華僑及外國人投資事業營運狀況資料，分析1,980家在臺非服務業之跨國企業，合計4,921筆觀察值的追蹤資料。研究結果顯示跨國企業對地主國政府治理和投資環境的滿意度對於合作夥伴選擇的偏好有所不同；亦即，當跨國企業對地主國政府治理的滿意度高時，傾向選擇價值鏈內上下游廠商作為合作夥伴，而當對地主國投資環境滿意度高時，卻傾向選擇價值鏈外第三方顧問公司或研究中心等機構作為合作夥伴。此外，研究還發現，績效表現不佳的企業較不會將母國公司作為技術來源；而在面臨負向績效時，企業更願意選擇顧問公司或研究中心等機構作為創新合作的對象。本研究提供了對跨國企業合作夥伴選擇的比較分析並提供了實務上的建議。;In the research on the selection of multinational corporate partners, there has been less focus on the influence of host country government governance and investment environment on the choice of innovation partners. This study examines the impact of host country institutional environment on the selection of research and development (R&D) cooperation partners from the perspectives of transaction cost theory and firm behavior theory. Using data on the operational status of overseas Chinese and foreign investors from the Investment Commission of the Ministry of Economic Affairs in Taiwan from 2007 to 2012, the study analyzes longitudinal and cross-sectional data comprising 4,921 observations from 1,980 multinational enterprises in non-service industries in Taiwan. The results of the study indicate that multinational enterprises have different preferences for partner selection based on their satisfaction with host country government governance and investment environment. Specifically, when multinational enterprises are more satisfied with host country government governance, they tend to choose upstream or downstream firms in the value chain as partners. On the other hand, when they are more satisfied with the host country investment environment, they tend to select third-party consulting firms or research centers outside the value chain as partners. Additionally, the study finds that poorly performing enterprises are less likely to consider their home country companies as sources of technology. When facing negative performance, enterprises are more willing to choose consulting firms or research centers as partners for innovation cooperation. This study provides a comparative analysis of partner selection for multinational corporations and offers practical recommendations.
