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完整後設資料紀錄
DC 欄位 | 值 | 語言 |
---|---|---|
dc.contributor.advisor | 邱宏仁(Charles Chiu) | |
dc.contributor.author | Jonathan Woods | en |
dc.contributor.author | 伍喬安 | zh_TW |
dc.date.accessioned | 2021-06-13T15:18:06Z | - |
dc.date.available | 2011-08-18 | |
dc.date.copyright | 2011-08-18 | |
dc.date.issued | 2011 | |
dc.date.submitted | 2011-08-11 | |
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dc.identifier.uri | http://tdr.lib.ntu.edu.tw/jspui/handle/123456789/37029 | - |
dc.description.abstract | As prices for precious metals increase, competition is expected to mount among resource-seeking mining firms, and they will begin turning their attention toward areas with
extraction potential around the world. Many of those resources exist in developing countries, with a tremendous amount encased in the geology of Mongolia. Gold mining companies the world over will be assessing the potential for profit in this country, and they will have to account for the risks investing in the country presents. One issue this paper addresses is what these risks are. Otto, after surveying and examining 39 multinational corporations in the mining industry, created a list of priorities when considering an international investment in a resource base. Luiz and Ruplal (2010) subsequently organized this survey into location and ownership factors as articulated by John Dunning (1981) in his expression of the eclectic model. This paper uses this list, reorganized under new headings, to make an assessment of whether the risks inherent in the Mongolian mining sector have been receding through developments in the past five years or not. This paper has focused on Canadian firms and risks particular to their investment money since, apart from China, firms from Canada are the largest investors in Mongolia, and lead the way regarding mining and exploration. This paper seeks to answer whether those risks, as outlined in the literature, have been reduced in the host country in the past five years. To this end, I have reviewed the literature listed above and identified the risk criteria. I then reviewed data and analysis from secondary sources in order to compose a picture of each consideration. The analysis demonstrates that the risks as defined by the literature are indeed not being sufficiently reduced so as to consider Mongolia as improving significantly. The information shows that Mongolia, while certainly improving in some respects, is not necessarily becoming a more transparent, predictable, and sophisticated destination for foreign direct investment targeted at mining. The result of the analysis has implications for Canadian mining companies, which come from among the most sophisticated mining countries in the world, with access to and familiarity with a sophisticated mining cluster, highly trained and capable personnel, and sophisticated government and non-governmental organization programs aimed at enhancing the industry in numerous ways. While these present advantages for companies from Canada, those companies would do well to apply caution when approaching investment opportunities in Mongolia, in order to protect themselves and actively reduce the risks that are inherent and persistent in the Mongolian mining sector, while striving to contribute to long-term stability and profitability. | en |
dc.description.provenance | Made available in DSpace on 2021-06-13T15:18:06Z (GMT). No. of bitstreams: 1 ntu-100-R98749071-1.pdf: 1495935 bytes, checksum: ca0e9e4f5f0fe042d57942a5890e3b63 (MD5) Previous issue date: 2011 | en |
dc.description.tableofcontents | Abstract ................................................. i
Table of Contents ............................................... iii List of Figures..................................................vii List of Tables .................................................viii 1 Introduction 1 1.1 Research Motivations and Questions 1 1.2 Research Objective 2 1.3 Research Method 3 1.4 Significance of the Study 3 1.5 Structure of the Thesis 4 2 Literature Review 4 2.1 The Ownership, Location, Internalization Model (OLI) 4 2.2 Otto and Luiz, Ruplal’s Delineation of Risks 6 2.3 Mistry and Oleson’s Definition of Risk 8 2.4 Additional Clarification of Definitions 9 2.4.1 Non-Commercial Risk Definition 9 2.4.2 Political Risk Definition 9 2.4.3 Transparency Definition 9 2.4.4 Sophistication Definition 10 2.4.5 Predictability Definition 10 2.5 Formulation of Risks for This Study 10 2.6 The Resource Curse – A Further Consideration 12 2.6.1 Introduction 12 2.6.2 Conflict 13 2.6.3 Rentier State 14 2.6.4 Dutch Disease 14 3 Industry Analysis 14 3.1 Introduction 14 3.2 Threat of New Entrants 16 3.3 Substitutes 16 3.4 Competitive Rivalry 17 3.5 Gold Market 18 3.5.1 Introduction 18 3.5.2 Precious Metals Return to their Historic Role as Money 18 3.5.3 Fears of a Collapse of the Value of the U.S. Dollar 19 3.5.4 Other Currencies Seem Equally Precarious 21 3.5.5 Central Banks Have Changed from Net Sellers of Gold to Net Buyers 22 3.5.6 Central Bank Gold Agreement (CBGA) 23 3.5.7 Demand for Precious Metals Gold is Accelerating 25 3.5.8 Allegations of Manipulation and Fraud 29 3.5.9 Fear of the Derivative Market 30 3.5.10 Peak Gold 30 3.5.11 Demand from China 31 3.5.12 Demand 31 3.5.13 Demand for Gold Jewelry in China 32 3.5.14 Gold Investment in China 34 3.5.15 Gold Industry in China 35 3.5.16 Gold Supply in China 35 3.5.17 Effect of China’s Proximity 37 4 Strategic Homogeneity and Increasing Competition for Resources 38 4.1 Competition Ramps Up 38 4.2 Industrial Organization 39 4.3 Efficiency Theory 40 4.4 Institutional Theory 40 4.5 Counterargument 40 5 Mongolia National Competitiveness 41 5.1 Country Profile 41 5.1.1 Economy 42 5.1.2 Human Development 42 5.1.3 Exports 43 5.1.4 Macroeconomic Environment 43 5.2 Porter’s Diamond Model 44 5.3 Mongolia’s National Competitiveness – The Diamond Model Applied 45 5.3.1 Factor Conditions 45 5.3.2 Demand Conditions 46 5.3.3 Related and Supporting Industries 47 5.3.4 Firm Strategy, Structure, and Rivalry 48 6 Case Studies – Canadian Mining Companies in Mongolia 48 6.1 Khan Resources 48 6.2 Centerra Gold 50 6.3 Ivanhoe Mines 51 7 Assessment of Location and Ownership Considerations 54 7.1 Ownership and Location Factors 54 7.2 Geological Potential for Target Mineral 55 7.3 Measure of Profitability 56 7.4 Risk Associated with Country Governance and Stability 57 7.5 Restrictions on Ownership Levels 58 7.6 Security of Tenure 60 7.7 Taxation 61 7.8 Foreign Exchange, Capital, and Conversion 62 7.9 Stability of Financial Regime 63 7.10 Respect for Investment Agreements 65 7.11 Corruption 65 7.12 Environmental Regulation 68 7.13 Infrastructure 70 7.13.1 Housing 70 7.13.2 Land Transport 70 7.13.3 Electricity 71 7.13.4 Water Resources 72 7.13.5 Private Public Partnerships 72 7.14 Discussion 73 7.14.1 Pros of Investing in Mongolia 74 7.14.2 Cons of Investing in Mongolia 75 8 Canadian Mining Companies 77 8.1 Description of Canadian Mining Industry 77 8.2 Canada- Mongolia Relations: Lack of a Bilateral Investment Treaty 79 8.3 Implications for Canadian Companies Trying to Actively Reduce Risks 80 9 Conclusion 82 10 Bibliography 86 | |
dc.language.iso | en | |
dc.title | 針對加拿大企業在蒙古礦產業直接投資之風險評估 | zh_TW |
dc.title | Proceed with Caution: Using OLI Considerations to Assess Mongolia’s Mining Sector's Risk | en |
dc.type | Thesis | |
dc.date.schoolyear | 99-2 | |
dc.description.degree | 碩士 | |
dc.contributor.oralexamcommittee | 田正利(Myron Tien),陳明賢(Ming Shen Chen) | |
dc.subject.keyword | 蒙古,礦產, | zh_TW |
dc.subject.keyword | eclectic,gold,Mongolia,mining, | en |
dc.relation.page | 90 | |
dc.rights.note | 有償授權 | |
dc.date.accepted | 2011-08-11 | |
dc.contributor.author-college | 管理學院 | zh_TW |
dc.contributor.author-dept | 企業管理碩士專班 | zh_TW |
顯示於系所單位: | 管理學院企業管理專班(Global MBA) |
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