行业经验对中国企业海外投资步伐的影响研究

发布时间：2018-01-26 17:24

本文关键词： 行业经验企业控制企业规模海外投资步伐　出处：《南京财经大学》2014年硕士论文　论文类型：学位论文

【摘要】：从20世纪90年代开始,中国经济的发展进入了一个崭新的阶段,经济成就卓越。在国际直接投资的领域里,中国已成为其中重要组成国家之一。中国企业也纷纷积极地走出国门,逐步迈向国际市场,开始国际化进程。那么,中国企业应该如何选择海外投资步伐,是小步慢走,还是大步快跑?这是中国企业国际化的一个关键决策。基于此,本文从行业经验的角度出发,试图对中国海外投资经验与海外投资步伐的关系进行分析,以加强对海外经验的深入研究。根据行业经验对投资步伐的影响,进而建议中国企业在海外投资的过程中更加重视相关经验的价值,指导中国企业更好地把握海外投资步伐,对其进行合理判断与有效促进。首先,对中国对外投资的发展现状与行业构成,本文进行了相关阐述；同时,根据经济的发展背景、结合相关目的和研究意义,构建了文章的研究框架,并对研究思路和技术路线进行了说明。然后,对组织学习、经验学习、投资步伐等有关理论进行回顾和论述,为经验与海外投资步伐的影响研究奠定了一定的理论基础：第三部分,本文从不同的角度分析了三种行业经验,即自身企业海外经验(子公司同行业)、其他企业海外经验(母公司同行业)、其他企业海外经验(子公司同行业),对海外投资步伐的影响。在此基础上,文章还分析了其他企业海外经验(母公司同行业)、其他企业海外经验(子公司同行业)、企业控制、企业规模对自身企业海外经验(子公司同行业)的调节作用。随后,通过对2000-2010年沪市上市公司的实证分析,行业经验与投资步伐的理论模型及相关假设得到了验证。最后,根据上述研究结果,本文提出了中国企业海外投资相应的启示,同时也指出了研究的不足与未来的展望。研究结果发现：自身企业海外经验(子公司同行业)对海外投资步伐有促进作用；然而,母子公司行业水平上的其他企业海外经验对海外投资步伐均具有阻碍作用。同时,其他企业海外经验(母公司同行业)、其他企业海外经验(子公司同行业)、企业规模对自身企业海外经验(子公司同行业)与投资步伐的关系有负向调节作用;企业控制则与之不同,它对自身企业海外经验(子公司同行业)的效应有正向调节作用。进一步的研究还表明,对于制造业和服务业而言,行业经验对海外投资步伐的影响存在着差异。本文的研究结论,对改善不同行业经验的学习与利用,如何把握海外投资步伐的规律性,减少不必要的失败举措,探索适合我国企业自身的海外投资规律,合理调整海外投资步伐有着积极的指导作用。
[Abstract]:Since 1990s, China's economic development has entered a new stage, with remarkable economic achievements in the field of international direct investment. China has become one of the important constituent countries. Chinese enterprises have also been actively out of the country, step by step towards the international market, start the process of internationalization. So, how should Chinese enterprises choose the pace of overseas investment. Is it a small walk or a big step? This is a key decision in the internationalization of Chinese enterprises. Based on this, this paper tries to analyze the relationship between China's overseas investment experience and the pace of overseas investment from the perspective of industry experience. In order to strengthen the in-depth study of overseas experience, according to the impact of industry experience on the pace of investment, it is suggested that Chinese enterprises pay more attention to the value of relevant experience in the process of overseas investment. To guide Chinese enterprises to better grasp the pace of overseas investment, to make a reasonable judgment and effective promotion. First of all, the development of China's foreign investment and the composition of the industry, this article has carried on the related elaboration; At the same time, according to the background of economic development, combined with the relevant purposes and research significance, this paper constructs the research framework, and explains the research ideas and technical routes. Then, the organizational learning, empirical learning. Investment pace and other related theories reviewed and discussed, for experience and overseas investment pace of the impact of a certain theoretical basis: the third part, this paper from different angles to analyze the three kinds of industry experience. That is, its own enterprise overseas experience (subsidiary company same industry, other enterprises overseas experience (parent company same industry, other enterprises overseas experience (subsidiary company same industry, influence on overseas investment step). On this basis. The article also analyzes the overseas experience of other enterprises (parent company of the same industry, other enterprises overseas experience (subsidiaries of the same industry, enterprise control). The role of enterprise size in regulating their overseas experience (subsidiary companies in the same industry). Then, through the empirical analysis of listed companies in Shanghai Stock Exchange from 2000 to 2010. The theoretical model and related assumptions of industry experience and investment pace are verified. Finally, according to the above research results, this paper puts forward the corresponding enlightenment of overseas investment of Chinese enterprises. At the same time, it also points out the deficiency of the research and the prospect of the future. The results show that the overseas experience of its own enterprises (subsidiary companies in the same industry) can promote the pace of overseas investment; However, the overseas experience of other enterprises at the level of parent-subsidiary industry has a hindering effect on the pace of overseas investment. At the same time, the overseas experience of other enterprises (the parent company in the same industry). Other enterprises' overseas experience (subsidiary company same industry), the enterprise scale has the negative adjustment function to own enterprise overseas experience (the subsidiary company same profession) and the investment step relations; Unlike firm control, it has a positive effect on its overseas experience (subsidiaries in the same industry). Further research also shows that for manufacturing and service industries. The influence of industry experience on overseas investment is different. The conclusion of this paper is how to improve the learning and utilization of different industry experience, how to grasp the regularity of overseas investment, and how to reduce unnecessary failure. Exploring the law of overseas investment suitable for Chinese enterprises and adjusting the pace of overseas investment play a positive role in guiding.
【学位授予单位】：南京财经大学
【学位级别】：硕士
【学位授予年份】：2014
【分类号】：F279.2;F125.4

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