双边投资协定、制度环境和企业对外直接投资区位选择

发布时间：2018-01-09 01:02

本文关键词：双边投资协定、制度环境和企业对外直接投资区位选择　出处：《经济研究》2012年05期 　论文类型：期刊论文

【摘要】：双边投资协定是两国政府为了促进和保护双边投资签署的协议。作为特定的联系两国的双边制度因素,双边投资协定给企业提供了不同于国家制度环境的保护,因而对企业的投资区位决策产生影响。本文建立了关于双边投资协定、东道国制度环境与母国制度对发展中国家企业对外投资区位选择作用的研究框架。基于中国上市公司2003年至2009年对外直接投资的数据,本文有三点发现:首先,双边投资协定能够促进企业到签约国投资;其次,双边投资协定能够替补东道国制度的缺位,对于促进企业到制度环境较差的签约国投资的作用更大;此外,双边投资协定还能够弥补母国制度支持的不均衡性,对于帮助非国有企业到签约国投资有着显著的积极作用。
[Abstract]:Bilateral investment agreements (bits) are agreements signed by the two governments in order to promote and protect bilateral investment. As a specific bilateral institutional factor, bilateral investment agreements (bits) provide enterprises with different protection from the national institutional environment. Therefore, it has an impact on the investment location decision of enterprises. This paper establishes a bilateral investment agreement. The research framework of the host country institutional environment and the home country system on the location selection of foreign investment of developing country enterprises. Based on the data of Chinese listed companies from 2003 to 2009. There are three findings in this paper: first, bilateral investment agreements (bits) can promote enterprises to invest in signatory countries; Secondly, bilateral investment agreements (bits) can replace the absence of host country system and play a more important role in promoting enterprises to invest in signatory countries with poor institutional environment. In addition, bilateral investment agreements (bits) can make up for the imbalance in the support of the home country system and play a significant and positive role in helping non-state-owned enterprises to invest in signatory countries.
【作者单位】：北京大学光华管理学院战略管理系;
【基金】：国家自然科学基金重点项目“我国企业海外直接投资与国际并购战略研究”(编号71132002)、国家自然科学基金面上项目“海归人员在企业资源获取、创新及国际化中的作用”(编号71172020)和光华思科领导力研究院的资助
【分类号】：F832.6
【正文快照】： 一、引言从2001年实施“走出去”战略以来,我国对外直接投资(FDI)连续保持快速发展势头。截至2009年底,我国1.2万家境内投资者在全球177个国家和地区设立对外直接投资企业1.3万家,对外直接投资累计净额2457.5亿美元,居全球第15位和发展中经济体第3位(商务部,2010)。类似对外

【相似文献】