E x ercises Ⅰ. Comprehension1． Answer the following questions 1) Which stage of the chair manufacture adds more value to the output ？ 椅子生产在哪个阶段增加了其产出的价值？ Answer: (P48 11-12 行) Downstream activities. 下游的活动。2）What is vertical integration（垂直一体化）？ Answer: (P48 表 1 上数 4-6 行) When a firm expands its value added activities along the same value chain either by acquiring an existing (现存的)operation，or setting up a greenfield(未开发的) subsidiary.3）What is equity-based cooperative agreement ? 什么是股权基础上的合作协议？Answer: (P51 第 2 段 2-5 行) It involves not just a transfer of control over some of the partner ,they imply some transfer of ownership ,through FDI ,of at least one of the 1participating firms to the other.4) Are all transactions conducted between two firms inter-firm cooperative agreements？Why? 两个公司间的交易是按照公司间的合作协议执行的吗？为什么?Answer: (P50 表下第 5-6 行；第 9 行) No. Sometimes the purpose of inter-firm agreement has a purely economic focus, such as cost economising. 5) Briefly explain the following figure. 2Japan5.2%%Other7.7%Intra-Eur18.6%Eur-USA21.1%5.7%Eur-Japan5.7%Intra-USA27.5%USA-Japan14.2%Distribution( 分 布 ) of inter-firm cooperative technology agreements by region.1980～1989 Source: MERIT-CATI databank(数据库) 2. Decide whether each of the following statements is true or false. 1) At the one extreme, the firm can establish a wholly owned subsidiary(子公司) through FDI. T (P48 倒数 2 行)2）When a firm expands its value added activities along the same value chain either by acquiring an exisiting operation, or setting up a greenfield subsidiary ,it is said to engage in horizontal integration. F (P48 表上倒数 6-3 行) 改为：vertical integration3) If a firm establishes a production facility to manufacture table ,it is said to undertake(承担;从事；着手)vertical integration. F (P48 表上倒数 4-2 行) 改为：horizontal integration4）More than one mode of cooperative agreement may be undertaken at the same time by the same partners. T (P51 倒数第 1 段 前 2 行)3
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