This study investigates the relationships among the influence of the largest shareholder, the entry mode of foreign direct investment companies in Korea, and subsidiary divestitures to demonstrate how the government's FDI policies can work as a moderator. Using data from 468 foreign manufacturing firms that set up plants in Korea through FDI between 2008 and 2011, a survival analysis was performed using the Cox proportional hazards model. The statistical results suggest that the possibility of foreign subsidiary divestiture increased with the level of influence held by the company's largest shareholder. Also, the entry mode of mergers and acquisitions was more likely than the greenfield entry mode to result in foreign subsidiary divestiture. Lastly, the host country's FDI policies moderate the relationship between the influence of the largest shareholder and foreign subsidiary divestiture.

本研究调查了最大股东的影响、外国直接投资公司在韩国的进入模式和子公司剥离之间的关系，以证明政府的 FDI 政策如何起到调节作用。使用 2008 年至 2011 年间通过 FDI 在韩国设立工厂的 468 家外国制造公司的数据，使用 Cox 比例风险模型进行生存分析。统计结果表明，随着公司第一大股东的影响力水平的提高，外资子公司剥离的可能性增加。此外，并购进入模式比绿地进入模式更容易导致外国子公司剥离。最后，东道国'