政策风险、角色预期与中国企业对外直接投资绩效
发布时间：2018-10-16 10:58
【摘要】：东道国政策风险与跨国企业对外直接投资绩效之间的关系一直是学术界与实务界关注的焦点。基于制度理论的能动性视角,以中国沪深A股上市公司在2004-2013年投资建立的海外子公司为样本进行实证检验,系统分析东道国政策风险对中国企业对外直接投资绩效的影响,同时探讨所有权性质与东道国经验对政策风险与对外直接投资绩效之间关系的调节作用。结果表明,东道国政策风险与中国企业对外直接投资绩效之间具有显著的正相关关系;中国企业的东道国经验对政策风险与对外直接投资绩效之间的关系存在正向调节作用;中国企业所有权性质的调节作用没有通过验证。结论深化和丰富了东道国政策风险与中国企业对外直接投资绩效之间关系的理论研究,同时也为中国企业如何在政策风险高的东道国获得高对外直接投资绩效提供了一定的实践指导,中国企业应该使得政治战略与市场战略协同配合共同发展。
[Abstract]:The relationship between host country policy risk and FDI performance of multinational enterprises has always been the focus of academic and practical circles. Based on the dynamic perspective of institutional theory and taking the overseas subsidiaries of Shanghai and Shenzhen A-share listed companies in China from 2004 to 2013 as samples, this paper systematically analyzes the influence of host country policy risk on the performance of Chinese enterprises' foreign direct investment (FDI). At the same time, it discusses the moderating effect of ownership nature and host country experience on the relationship between policy risk and FDI performance. The results show that there is a significant positive correlation between the policy risk of the host country and the foreign direct investment performance of Chinese enterprises, and the experience of the host country of the Chinese enterprises has a positive regulating effect on the relationship between the policy risk and the performance of the foreign direct investment. The regulatory role of the ownership nature of Chinese enterprises has not been verified. Conclusion it deepens and enriches the theoretical research on the relationship between the policy risk of host country and the foreign direct investment performance of Chinese enterprises. At the same time, it also provides some practical guidance for Chinese enterprises to obtain high FDI performance in the host country with high policy risk. Chinese enterprises should make the political strategy and market strategy cooperate and develop together.
【作者单位】： 东北大学工商管理学院;
【基金】：国家社会科学基金重点项目“组织身份变革及意义给赋:克服外来者劣势的动态机制研究”(批准号:15AGL006,项目负责人:杜晓君)
【分类号】：F125;F279.2
本文编号：2274149
[Abstract]:The relationship between host country policy risk and FDI performance of multinational enterprises has always been the focus of academic and practical circles. Based on the dynamic perspective of institutional theory and taking the overseas subsidiaries of Shanghai and Shenzhen A-share listed companies in China from 2004 to 2013 as samples, this paper systematically analyzes the influence of host country policy risk on the performance of Chinese enterprises' foreign direct investment (FDI). At the same time, it discusses the moderating effect of ownership nature and host country experience on the relationship between policy risk and FDI performance. The results show that there is a significant positive correlation between the policy risk of the host country and the foreign direct investment performance of Chinese enterprises, and the experience of the host country of the Chinese enterprises has a positive regulating effect on the relationship between the policy risk and the performance of the foreign direct investment. The regulatory role of the ownership nature of Chinese enterprises has not been verified. Conclusion it deepens and enriches the theoretical research on the relationship between the policy risk of host country and the foreign direct investment performance of Chinese enterprises. At the same time, it also provides some practical guidance for Chinese enterprises to obtain high FDI performance in the host country with high policy risk. Chinese enterprises should make the political strategy and market strategy cooperate and develop together.
【作者单位】： 东北大学工商管理学院;
【基金】：国家社会科学基金重点项目“组织身份变革及意义给赋:克服外来者劣势的动态机制研究”(批准号:15AGL006,项目负责人:杜晓君)
【分类号】：F125;F279.2
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