중국 투자 중소기업에 대한 외국비용의 원천 및 식별에 관한 실증 연구

This study analyzes whether the liability of foreignness(LOF) has structurally impeded the Korean small and medium-sized enterprises(SMEs)' local business activities in China. This empirical study results that the Korean SMEs investing in China find themselves faced with the liability of foreignness, which was measured using the difficulties associated with local business activities. LOF makes worse the performance of the Korean subsidiaries in China. These results indicate that the Korean small and medium-sized enterprises should establish a foreign investment strategies that take into consideration means of overcoming this liability of foreignness structurally obstructing their access to the Chinese market. In this regard, the Korean government should do assist with long-term approach of providing support in order to ease the difficulties faced by Korean companies in China, and strive to mitigate their burden from the liability of foreignness through such means as the establishment of government-government channels designed to monitor the causes of the liability of foreignness.