Subsidiary Autonomy -The Case of Multinational Subsidiaries

Subsidiary Autonomy -The Case of Multinational Subsidiaries in Malaysia 的WORD版本.
Government policy designed to attract foreign direct investment (FDI) is usually justified by the range of benefits that such investment might provide.These include the boost to economic growth provided by the additional investment,provision of superior management,marketing and technological expertise and improved access to export markets (UNCTAD,1998; Vachani,1999).Rugman and Douglas (1996) have argued that three conditions must be satisfied to ensure the host country receives frill benefit from the operation of a subsidiary.First,some degree of design and engineering is essential because 'downstream innovation' embodies a high value-added component and is thus the most valuable activity of a subsidiary.Second,new product lines are advantageous for the host country.When an existing product is transferred,the scope for domestic innovation is reduced.Third,the subsidiary should have global responsibility for marketing its product lines,otherwise the potential of the subsidiary to assist the host country's exporting efforts will be diminished.In summary,national interest requires that subsidiaries have the autonomy necessary to develop new products,processes and markets.
The Malaysian Government offers multinational corporations (MNCs) a range of incentives designed to encourage the establishment of subsidiaries that are regarded as especially advantageous.The incentives primarily entail taxation allowances and more liberal ownership rights for investments (a) in particular industries,such as manufacturing and high technology,(b) in particular geographic locations,such as the Multimedia Super Corridor or the Eastern Corridor,(c) that offer significant learning opportunities,such as from research and development,or (d) have particular strategic roles,such as operational headquarters and international procurement centres (Government of Malaysia,1999; Tan Ser Kiat,1999).
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