中国制造业企业跨国投资模式研究

发布时间：2018-06-16 11:56

本文选题：跨国投资 + 制造业　；参考：《天津财经大学》2013年硕士论文

【摘要】：近年来,随着中国制造业企业的对外直接投资活动的不断增多,投资规模与范围的不断扩大,选择何种投资模式进入境外市场逐渐成为我国企业开展跨国投资活动时所要面临的重要问题,跨国投资决策已成为中国制造业企业海外扩张进程中十分关键的重大战略决策。在此背景下,本文从中国制造业企业对外直接投资的现状出发,以企业对外直接投资的内、外部双重动机的形成和对外直接投资模式的选择为研究线索,对当前我国制造业企业对外直接投资决策的影响机制进行分析。在运用文献研究法对以往专家、学者学术成果进行研究的基础上,运用比较分析法研究各种对外直接投资模式的内涵及其优劣,运用实证研究法对我国制造业企业对外投资模式选择进行研究,找出相关影响因素并加以分析,随后提出个人对我国制造业企业对外直接投资模式选择以及国际化发展的对策与建议。对外直接投资的方式从不同的角度可以有多种分类方式,近年来,绿地投资和跨国并购一直被认为是企业对外直接投资的最主要的两种方式。本文运用FDI相关理论,结合我国多年跨国投资项目的实际数据,对当前制造业企业绿地投资和跨国并购的现状特征及存在问题进行分析,进一步对我国制造业企业对外直接投资决策的影响机制进行探讨。并采取“区位选择-模式选择”的两步法,依次对影响我国海外投资项目区位选择和模式选择的影响因素进行实证研究,得出的结论显示：东道国经济发展程度、劳动力成本、东道国市场开放程度以及东道国的市场规模与潜力等因素都会影响到我国企业对外投资的区位选择,而企业对于市场规模较大、市场化程度较高、基础设施情况较好的国家更倾向于选择跨国并购的投资方式,对于自然资源禀赋较高、劳动力成本较低的国家则更倾向于绿地投资的方式。为了推进我国产业结构转换和技术升级,应进一步合理化海外投资区位与产业结构安排,鼓励跨国企业针对不同地区实施差异化的投资战略,选择最符合企业经营优势的海外投资战略,同时加强跨国企业在境外的本土化经营,以提高我国企业在国际市场上的竞争力。
[Abstract]:In recent years, with the increasing of foreign direct investment activities of Chinese manufacturing enterprises, the scale and scope of investment have been expanding. Choosing which investment mode to enter the overseas market has gradually become an important problem for Chinese enterprises to carry out transnational investment activities. The decision of transnational investment has become a very important strategic decision in the process of overseas expansion of Chinese manufacturing enterprises. Under this background, this paper starts from the current situation of Chinese manufacturing enterprises' outward direct investment, taking the formation of internal and external double motivation and the choice of foreign direct investment mode as the research clue. This paper analyzes the influence mechanism of foreign direct investment (FDI) decision of Chinese manufacturing enterprises. On the basis of using literature research method to study the academic achievements of past experts and scholars, we use comparative analysis method to study the connotation, advantages and disadvantages of various modes of foreign direct investment. Using the empirical research method to study the choice of foreign investment mode of manufacturing enterprises in China, find out the relevant factors and analyze them. Then, the author puts forward the countermeasures and suggestions on the choice of foreign direct investment mode and the internationalization development of Chinese manufacturing enterprises. In recent years, greenbelt investment and cross-border M & A have been regarded as the most important two ways for enterprises to invest in foreign direct investment. Based on the theory of FDI and the actual data of multi-year transnational investment projects in China, this paper analyzes the current characteristics and existing problems of green land investment and cross-border M & A of manufacturing enterprises in China. The influence mechanism of foreign direct investment (FDI) decision of manufacturing enterprises in China is discussed. By adopting the two-step method of "location choice-mode choice", this paper makes an empirical study on the influencing factors of location choice and mode selection of overseas investment projects in China. The conclusions are as follows: the degree of economic development of host country, labor cost, etc. The opening degree of the host country market and the market scale and potential of the host country will affect the location choice of our enterprises' outward investment, while the enterprises have a large market scale and a high degree of marketization. Countries with better infrastructure are more likely to opt for cross-border M & as, while countries with higher natural resource endowments and lower labor costs prefer greenfield investments. In order to promote China's industrial structure transformation and technological upgrading, it is necessary to further rationalize the location and industrial structure of overseas investment and encourage multinational enterprises to implement a differentiated investment strategy for different regions. In order to improve the competitiveness of Chinese enterprises in the international market, we should choose the most suitable overseas investment strategy and strengthen the local management of multinational enterprises in the international market.
【学位授予单位】：天津财经大学
【学位级别】：硕士
【学位授予年份】：2013
【分类号】：F832.6;F425

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