集团成员企业的国际化战略:资源折价溢价效应的视角

发布时间：2018-05-17 05:16

  本文选题：集团成员企业 + 独立企业　； 参考：《中国工业经济》2017年03期

【摘要】：独立企业和集团成员企业的国际化战略选择可能存在显著差异,但这一问题并未引起学术领域的足够重视。本文采用2006—2015年进行对外直接投资的中国上市公司独立企业和集团成员企业作为样本,研究了独立企业和集团成员企业的国际化战略选择。结果表明,独立企业和集团成员企业在选择是否采取国际化战略以及选择激进还是渐进的国际化战略方面存在显著差异。非竞争性资源和竞争性资源的溢价效应均有助于成员企业实施国际化战略,且有助于其实施激进的国际化战略。竞争性资源的弱折价效应有助于成员企业实施国际化战略,并且有助于限制成员企业的过度投资,促进其实施渐进的国际化战略。竞争性资源的强折价效应不利于成员企业实施国际化战略,但是当成员企业被迫听从集团指令实施国际化战略时,该强折价效应有助于其实施激进的国际化战略。
[Abstract]:There may be significant differences in the choice of internationalization strategy between independent enterprises and group members, but this problem has not been paid enough attention to in academic field. In this paper, the international strategic choice of independent enterprises and group members of Chinese listed companies with foreign direct investment (FDI) from 2006 to 2015 is studied. The results show that there are significant differences between independent enterprises and group members in the choice of internationalization strategy and radical or progressive internationalization strategy. The premium effect of both non-competitive resources and competitive resources is helpful for member enterprises to implement internationalization strategy and implement radical internationalization strategy. The weak discount effect of competitive resources can help member enterprises to implement internationalization strategy, limit the excessive investment of member enterprises, and promote the implementation of progressive internationalization strategy. The strong discount effect of competitive resources is not conducive to the implementation of the internationalization strategy of member enterprises, but when the member enterprises are forced to follow the instructions of the group to implement the international strategy, the strong discount effect is helpful to implement the radical international strategy.
【作者单位】： 中国科学院大学经济与管理学院、虚拟经济与数据科学研究中心;中国科学院大学经济与管理学院;
【基金】：国家自然科学基金面上项目“中国企业对外直接投资空间网络布局构建及其对企业海外运营的影响”(批准号71472173)
【分类号】：F272.3
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本文编号：1900069