正式制度距离与非正式制度距离对海外进入模式影响——来自中国跨国企业的经验研究
发布时间：2018-10-30 07:01
【摘要】：尽管中国企业海外投资已进入加速阶段,母国与东道国之间制度环境的差异仍然在很大程度上影响着企业的投资决策,但现有文献对制度距离与企业海外投资进入模式决策关系的结论并不一致。以2008—2012年间中国上市公司海外投资事件为样本,实证结果表明:(1)正式制度距离越大,企业越倾向于采用独资模式进入东道国;非正式制度距离越大,企业越倾向于采用合资模式进入。(2)当中国企业进入制度环境比自身完善的东道国时,正式制度距离与独资模式的正向关系被强化。(3)随着企业过去积累的东道国经验的增多,非正式制度距离与合资模式的关系被削弱。
[Abstract]:Although the overseas investment of Chinese enterprises has entered an accelerated stage, the differences in the institutional environment between the home country and the host country still greatly affect the investment decisions of the enterprises. However, the existing literature on the relationship between institutional distance and foreign investment entry mode is inconsistent. Taking the overseas investment events of Chinese listed companies from 2008 to 2012 as a sample, the empirical results show that: (1) the larger the distance of formal system, the more enterprises tend to use the sole proprietorship mode to enter the host country; The greater the distance between informal institutions, the more inclined to use the joint venture mode to enter. (2) when Chinese enterprises enter the host country with perfect institutional environment, The positive relationship between the formal institutional distance and the sole proprietorship model is strengthened. (3) with the increase of the experience of the host country in the past, the relationship between the informal institutional distance and the joint venture model is weakened.
【作者单位】： 浙江大学管理学院;
【基金】：国家自然科学基金重点项目(71232013);国家自然科学基金面上资助项目(71472164);国家自然科学基金面上资助项目(71372054)
【分类号】：F272.92;F276.7
，
本文编号：2299281
[Abstract]:Although the overseas investment of Chinese enterprises has entered an accelerated stage, the differences in the institutional environment between the home country and the host country still greatly affect the investment decisions of the enterprises. However, the existing literature on the relationship between institutional distance and foreign investment entry mode is inconsistent. Taking the overseas investment events of Chinese listed companies from 2008 to 2012 as a sample, the empirical results show that: (1) the larger the distance of formal system, the more enterprises tend to use the sole proprietorship mode to enter the host country; The greater the distance between informal institutions, the more inclined to use the joint venture mode to enter. (2) when Chinese enterprises enter the host country with perfect institutional environment, The positive relationship between the formal institutional distance and the sole proprietorship model is strengthened. (3) with the increase of the experience of the host country in the past, the relationship between the informal institutional distance and the joint venture model is weakened.
【作者单位】： 浙江大学管理学院;
【基金】：国家自然科学基金重点项目(71232013);国家自然科学基金面上资助项目(71472164);国家自然科学基金面上资助项目(71372054)
【分类号】：F272.92;F276.7
，
本文编号：2299281
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