在跨國企業投資的研究中，過去的研究較為關注跨國企業在單一類型制度壓力下的同形化策略選擇，卻忽略了不同形式的地主國制度壓力帶來不同的同形化策略選擇。而本研究將不同形式的地主國制度壓力作為分析因素，為跨國企業帶來不同的同形化策略選擇，從制度理論的觀點，探討跨國企業受到地主國制度壓力下的不同影響，並深入探討跨國企業如何以經營模式調節地主國形成的多種壓力。本研究利用2008-2022年共計870筆陸資企業來台投資的資料，以進行假說驗證，研究結果顯示陸資企業同時面對地主國不同制度壓力時，會採取不同的策略選擇，即中國企業面對台灣管制性壓力時，傾向採取小規模投資策略的進入選擇，然而中國企業面對台灣社會認知性壓力時，卻會避免小規模策略的進入方式，此外，研究還發現，批發零售業的經營模式對地主國管制性和認知性壓力與小規模投資策略之關係具有調節效果。總體而言，本研究提供了跨國企業在制定投資策略時應考慮特定因素的重要性以因應不同制度壓力，並為地主國、跨國企業提供了實務上的建議。;Previous research on foreign direct investment (FDI) by multinational enterprises (MNEs) has primarily focused on the conformity strategies adopted by MNEs under a single type of institutional pressure, while overlooking the different conformity strategies resulting from various forms of host country institutional pressures. This study considers different forms of host country institutional pressures as analytical factors, exploring the diverse conformity strategies pursued by MNEs. It examines how MNEs are influenced by the institutional pressures of host countries and investigates how they use their business models to adjust to the multiple pressures generated by the host country′s institutional environment. The study utilizes data from 870 Chinese-invested enterprises that invested in Taiwan between 2008 and 2020 for hypothesis testing and validation. The findings indicate that Chinese enterprises adopt different strategic choices when simultaneously facing different types of institutional pressures in the host country. Specifically, when confronted with regulatory pressures in Taiwan, Chinese enterprises tend to prefer small-scale investment strategies as their entry choice. However, when faced with social cognitive pressures, they tend to avoid small-scale strategies. Additionally, the study identifies that the operational model of the wholesale and retail industry moderates the relationship between regulatory and social cognitive pressures from the host country and the choice of small-scale investment strategies. Overall, this research emphasizes the significance of considering specific factors when formulating investment strategies to address different institutional pressures. It provides practical recommendations for both host countries and MNEs in responding to the challenges posed by institutional pressures and offers valuable insights for their practical decision-making processes.
