市场距离、市场规模与中国企业对外直接投资的市场进入次序
发布时间：2018-10-24 12:07
【摘要】：本文从动态的视角出发,将同一企业的多次对外直接投资行为视为连续性事件,通过运用中国商务部《境外投资企业(机构)名录》的数据(1983—2015),研究市场规模以及由地理距离、文化距离和制度距离三个维度构成的市场距离对中国企业国际市场进入次序的影响。本文发现,中国企业倾向于先进入市场规模较大的市场,但地理距离和制度距离降低了中国企业在进入次序上对大市场的偏好;随着投资次数的增加,制度距离对市场规模与进入次序的调节作用不再显著,但是,地理距离的调节作用却被加强;在2007年之前,中国企业倾向于先进入市场规模较大、自然资源和战略资源较为丰富的市场,但市场距离的调节作用并不显著;在2007年之后,战略资源对市场进入次序的影响力进一步加强,而丰富的自然资源反而降低了市场的进入优先级,地理距离和制度距离也在这期间表现出显著的调节作用。
[Abstract]:From the dynamic point of view, this paper regards the multiple outward direct investment (FDI) behavior of the same enterprise as a continuous event. By using the data from the Ministry of Commerce's Directory of Enterprises (institutions) with Foreign Investment (1983-2015), we studied the market size and geographical distance. The influence of three dimensions of cultural distance and institutional distance on the international market entry order of Chinese enterprises. This paper finds that Chinese enterprises tend to enter the larger market first, but the geographical distance and institutional distance reduce the preference of the Chinese enterprises to the large market in the order of entry, and with the increase of investment times, The regulatory effect of institutional distance on market scale and entry order is no longer significant, but the adjustment effect of geographical distance is strengthened. Before 2007, Chinese enterprises tend to enter the market first on a larger scale. Markets with relatively abundant natural and strategic resources, but the adjustment of market distances is not significant; after 2007, the influence of strategic resources on market entry order has further increased. On the contrary, the rich natural resources reduce the priority of market entry, and geographical distance and institutional distance also play a significant role in regulating the market.
【作者单位】： 上海财经大学城市与区域科学学院;
【基金】：国家自然科学基金项目“企业国际化的‘年龄依赖’效应:基于进入时间、国际化能力与国际化动力的研究”(71402085) 教育部人文社会科学基金项目“企业国际化的‘年龄依赖’效应:国际化能力、国际化动力与初始化时间”(14YJC630164)
【分类号】：F125;F279.2
，
本文编号：2291365
[Abstract]:From the dynamic point of view, this paper regards the multiple outward direct investment (FDI) behavior of the same enterprise as a continuous event. By using the data from the Ministry of Commerce's Directory of Enterprises (institutions) with Foreign Investment (1983-2015), we studied the market size and geographical distance. The influence of three dimensions of cultural distance and institutional distance on the international market entry order of Chinese enterprises. This paper finds that Chinese enterprises tend to enter the larger market first, but the geographical distance and institutional distance reduce the preference of the Chinese enterprises to the large market in the order of entry, and with the increase of investment times, The regulatory effect of institutional distance on market scale and entry order is no longer significant, but the adjustment effect of geographical distance is strengthened. Before 2007, Chinese enterprises tend to enter the market first on a larger scale. Markets with relatively abundant natural and strategic resources, but the adjustment of market distances is not significant; after 2007, the influence of strategic resources on market entry order has further increased. On the contrary, the rich natural resources reduce the priority of market entry, and geographical distance and institutional distance also play a significant role in regulating the market.
【作者单位】： 上海财经大学城市与区域科学学院;
【基金】：国家自然科学基金项目“企业国际化的‘年龄依赖’效应:基于进入时间、国际化能力与国际化动力的研究”(71402085) 教育部人文社会科学基金项目“企业国际化的‘年龄依赖’效应:国际化能力、国际化动力与初始化时间”(14YJC630164)
【分类号】：F125;F279.2
，
本文编号：2291365
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