海外华人网络对中国对外投资的影响研究——基于东道国异质性的视角
发布时间：2018-11-08 09:03
【摘要】：随着中国的全球化进程不断加深,海外华人网络作为一项在东道国的重要关系资产越来越受到重视。本文基于2008~2013年53个国家的海外华人存量数据与中国对外投资宏观的国家数据,考察了海外华人网络对中国对外投资的影响及异质性,并利用Bootstrap中介检验方法检验了海外华人网络对中国对外投资的影响途径。研究发现,总体上,海外华人网络作为与东道国文化交流的重要纽带,对中国的对外投资产生了积极影响,上述结论在控制了内生性问题后依然稳健。进一步,通过中介效应检验,发现文化距离的中介效应显著,海外华人网络会通过降低中国与东道国之间的文化差异间接促进中国对外投资。同时发现,海外华人网络对中国对外投资的影响在不同东道国存在显著异质性,在文化差异大和制度质量低的东道国,海外华人网络的正向作用更明显。
[Abstract]:With the deepening of China's globalization process, overseas Chinese network as an important relationship asset in the host country has been paid more and more attention. Based on the data of overseas Chinese stock in 53 countries from 2008 to 2013 and the macro national data of China's outward investment, this paper examines the influence and heterogeneity of overseas Chinese network on China's overseas investment. The influence of overseas Chinese network on China's foreign investment is tested by using Bootstrap intermediary test method. It is found that the overseas Chinese network, as an important link of cultural exchange with the host country, has a positive impact on China's foreign investment, and the above conclusions are still stable after controlling the endogenous problems. Furthermore, through the test of intermediary effect, we find that the intermediary effect of cultural distance is significant, and the overseas Chinese network can indirectly promote China's foreign investment by reducing the cultural differences between China and the host country. At the same time, it is found that the influence of overseas Chinese network on China's foreign investment has significant heterogeneity in different host countries, and the positive effect of overseas Chinese network is more obvious in the host countries with great cultural differences and low institutional quality.
【作者单位】： 山东理工大学商学院;
【分类号】：D634.3;F125
，
本文编号：2318007
[Abstract]:With the deepening of China's globalization process, overseas Chinese network as an important relationship asset in the host country has been paid more and more attention. Based on the data of overseas Chinese stock in 53 countries from 2008 to 2013 and the macro national data of China's outward investment, this paper examines the influence and heterogeneity of overseas Chinese network on China's overseas investment. The influence of overseas Chinese network on China's foreign investment is tested by using Bootstrap intermediary test method. It is found that the overseas Chinese network, as an important link of cultural exchange with the host country, has a positive impact on China's foreign investment, and the above conclusions are still stable after controlling the endogenous problems. Furthermore, through the test of intermediary effect, we find that the intermediary effect of cultural distance is significant, and the overseas Chinese network can indirectly promote China's foreign investment by reducing the cultural differences between China and the host country. At the same time, it is found that the influence of overseas Chinese network on China's foreign investment has significant heterogeneity in different host countries, and the positive effect of overseas Chinese network is more obvious in the host countries with great cultural differences and low institutional quality.
【作者单位】： 山东理工大学商学院;
【分类号】：D634.3;F125
，
本文编号：2318007
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